Magic Millions
Encyclopedia
Magic Millions Sales Pty Ltd is an Australia
n Thoroughbred
racehorse
auction
house which holds a sale each January at Surfers Paradise
in Queensland
. Eight days of auctions are joined by a major Thoroughbred horse race
meeting where all ten races are only open to horses who were bought at auctions staged by Magic Millions over the previous years. The race events includes the Magic Millions Classic for two-year-olds.
The Magic Millions is considered to be a top level auction in global racing circles. Some of the finest yearlings in Australia are offered for sale there and Australiais known for its very high level of thorougbred breeding and racing. Prices paid for individual horses have exceeded one million Australian dollars, with buyers from Hong Kong, Japan, Europe and the Middle East frequently attending. The Godolphin stables
, richest in the world and owned by the ruling family of Dubai, have been prominent buyers at the auction in recent years. The record for an individual horse purchase was made by Patinack Farm twice at the 2008 Magic Millions where that team spent $2.2 million on two Redoute's Choice colts - one a three quarter brother to Dance Hero and one a three quarter brother to their stable star Casino Prince.
In the late 1990s the auction house was almost bankrupt. It was bought by three business men, including the notable Australian retail entrepreneur and horse breeder Gerry Harvey
and notable Australian advertising entrepreneur John Singleton
. Both men, well known for their public profiles and flamboyant, non-conformist styles, set about reviving the fortunes of the auction.
Better funding, advertising, networking and public reportage have led to the Magic Millions growing considerable in national and international stature. Also, the recent growth of the Gold Coast
region may have helped. The international profile of the auction has also been helped by the recent development in the breeding world of 'shuttle stallions' - the practise whereby the very top stallions in the world are now flown between Australia, Asia, Europe and the US to be put to service. The end result of this is that whereas ten years ago only Australian champions would have bred progeny on offer in Australia, there is now just as likely to be the offspring of a Kentucky Derby
or Prix de l'Arc de Triomphe
winner as that of a Melbourne Cup
champion.
Besides Gai Waterhouse, other famous horse trainers such as Lee Freedman
and David Hayes are patrons of the sales.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n Thoroughbred
Thoroughbred
The Thoroughbred is a horse breed best known for its use in horse racing. Although the word thoroughbred is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed...
racehorse
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
auction
Auction
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder...
house which holds a sale each January at Surfers Paradise
Surfers Paradise, Queensland
Surfers Paradise is a suburb on the Gold Coast in Queensland, Australia. At the 2006 Census, Surfers Paradise had a population of 18,501....
in Queensland
Queensland
Queensland is a state of Australia, occupying the north-eastern section of the mainland continent. It is bordered by the Northern Territory, South Australia and New South Wales to the west, south-west and south respectively. To the east, Queensland is bordered by the Coral Sea and Pacific Ocean...
. Eight days of auctions are joined by a major Thoroughbred horse race
Thoroughbred horse race
Thoroughbred horse racing is a worldwide sport and industry involving the racing of Thoroughbred horses. It is governed by different national bodies. There are two forms of the sport: Flat racing and National Hunt racing...
meeting where all ten races are only open to horses who were bought at auctions staged by Magic Millions over the previous years. The race events includes the Magic Millions Classic for two-year-olds.
The Magic Millions is considered to be a top level auction in global racing circles. Some of the finest yearlings in Australia are offered for sale there and Australiais known for its very high level of thorougbred breeding and racing. Prices paid for individual horses have exceeded one million Australian dollars, with buyers from Hong Kong, Japan, Europe and the Middle East frequently attending. The Godolphin stables
Godolphin Stables
Godolphin Racing is the Maktoum family's private thoroughbred horseracing stable and was named in honour of the Godolphin Arabian, who came from the desert to become one of the three founding stallions of the modern thoroughbred....
, richest in the world and owned by the ruling family of Dubai, have been prominent buyers at the auction in recent years. The record for an individual horse purchase was made by Patinack Farm twice at the 2008 Magic Millions where that team spent $2.2 million on two Redoute's Choice colts - one a three quarter brother to Dance Hero and one a three quarter brother to their stable star Casino Prince.
In the late 1990s the auction house was almost bankrupt. It was bought by three business men, including the notable Australian retail entrepreneur and horse breeder Gerry Harvey
Gerry Harvey
Gerry Harvey is an Australian entrepreneur best-known for being the executive chairman of Harvey Norman Holdings Ltd., a large company which runs Australian retail chain Harvey Norman...
and notable Australian advertising entrepreneur John Singleton
John Singleton (Australian entrepreneur)
John Desmond Singleton AM is an Australian entrepreneur. He built his success and wealth in the advertising business in Australia in the 1970s and 1980s...
. Both men, well known for their public profiles and flamboyant, non-conformist styles, set about reviving the fortunes of the auction.
Better funding, advertising, networking and public reportage have led to the Magic Millions growing considerable in national and international stature. Also, the recent growth of the Gold Coast
Gold Coast, Queensland
Gold Coast is a coastal city of Australia located in South East Queensland, 94km south of the state capital Brisbane. With a population approximately 540,000 in 2010, it is the second most populous city in the state, the sixth most populous city in the country, and also the most populous...
region may have helped. The international profile of the auction has also been helped by the recent development in the breeding world of 'shuttle stallions' - the practise whereby the very top stallions in the world are now flown between Australia, Asia, Europe and the US to be put to service. The end result of this is that whereas ten years ago only Australian champions would have bred progeny on offer in Australia, there is now just as likely to be the offspring of a Kentucky Derby
Kentucky Derby
The Kentucky Derby is a Grade I stakes race for three-year-old Thoroughbred horses, held annually in Louisville, Kentucky, United States on the first Saturday in May, capping the two-week-long Kentucky Derby Festival. The race is one and a quarter mile at Churchill Downs. Colts and geldings carry...
or Prix de l'Arc de Triomphe
Prix de l'Arc de Triomphe
The Prix de l'Arc de Triomphe is a Group 1 flat horse race in France which is open to thoroughbreds aged three years or older. It is run at Longchamp over a distance of 2,400 metres , and it is scheduled to take place each year, usually on the first Sunday in October.Popularly referred to as the...
winner as that of a Melbourne Cup
Melbourne Cup
The Melbourne Cup is Australia's major Thoroughbred horse race. Marketed as "the race that stops a nation", it is a 3,200 metre race for three-year-olds and over. It is the richest "two-mile" handicap in the world, and one of the richest turf races...
champion.
Besides Gai Waterhouse, other famous horse trainers such as Lee Freedman
Lee Freedman
David Lee Freedman is a prominent Australian racehorse trainer. In partnership with brothers Anthony, Michael, and Richard, he has been a prolific winner of Australia's major races in past 20 years, with four Golden Slippers, four Caulfield Cups, two Cox Plates, and five Melbourne Cups,...
and David Hayes are patrons of the sales.