Magic Right Around the Corner
by Christina Bossinakis
As December quickly approaches, much of the Northern Hemisphere begins to hunker down for winter, while the Southern Hemisphere eagerly welcomes the longer and warmer days of summer. And as is its custom, Magic Millions kicks off the calender year with the Gold Coast Yearling Sale, the first major yearling sale of the Southern Hemishere season.
“The Gold Coast is Australia’s #1 tourist destination,” said Magic Millions Managing Director Vin Cox. “The sale is on in the heart of summer, and the heart of the Christmas and school holidays, so everyone is in a good frame of mind, and they are essentially on vacation. It allows people to conduct some Thoroughbred business in a relaxed atmosphere.”
Held at the Magic Millions Sales Complex in Bundall, the auction commences with Book 1, comprised of four select sessions–Wednesday, Jan. 7, through Saturday, Jan. 10. Immediately following the initial 692 entries is Book 2–which will be presented Sunday, Jan. 11–and will feature an additional 220 head.
The Gold Coast sale was first conducted in 1986, the year that subsequent 2YO Classic winner Snippets (Aus) sold for a mere A$22,000, and the venue has proven a valuable source of Group 1 winners and champions alike, including Dissident (Aus) (Sebring {Aus}), Amicus (Aus) (Fastnet Rock {Aus}), Shooting to Win (Aus) (Northern Meteor {Aus}), Atlantic Jewel (Aus) (Fastnet Rock), Zoustar (Aus) (Northern Meteor), Pierro (Aus) (Lonhro {Aus}), Boban (Aus) (Bernardini) or Almalad (Aus) (Al Maher {Aus}).
“Over the past few years, we have been able to attract better quality horses,” said Cox. “Our sales, whether it’s the Magic Millions January sale, National sale or Breeding Stock sale, they have all been very, very strong and well supported. It has built on itself, snowballed and people got confidence in what we are doing, which resulted in people entrusting us with a better quality horse.”
The sale is held in conjunction with the multi-million dollar Magic Millions raceday, which will be conducted in 2015 on Saturday, Jan. 10. Both the sale and raceday have become the cornerstone for the week-long Magic Millions Carnival. In 2014, the Magic Millions raceday offered purses in excess of A$4.7 million, highlighted by the 1200-meter, $2-million Jeep Magic Millions 2YO Classic and the $1-million 3YO Guineas over 1400 meters.
“It’s a great opportunity for Magic Millions to showcase horseracing, the sales and the Gold Coast to business leaders, to government officials, to international guests, basically, a wide array of people,” said Cox. “It’s become a huge event, and is televised and is shown nationally, so it’s on every TV and in every household. It’s really an ideal setting.”
The Midas Touch on the Gold Coast…
During the 2015 renewal of the Gold Coast sale, a total of 274 stakes-performing mares are represented through Book 1 and 2, including 26 who have won at the Group 1 level; 27 Group 2 winners; and 28 Group 3 winners. In total, 274 lots in the Gold Coast catalogue are out of stakes-performing mares, including 166 of them who were stakes winners.
“For a long time, January was pigeon-holed as a one-dimensional sale, where you sold your early speed, early 2-year-old type, with an obvious focus on the Magic Millions 2-year-old race,” explained Cox. “These days, we have a much broader spectrum horse catalogued; our catalogues have improved significantly. In the old days, we really didn’t get a filly with pedigree. Now, we have a lot of fillies with massive pedigrees. We are getting more two-turn horses, Classic-type horses, and the catalogue has stallions like High Chaparral (Ire) or So You Think (NZ). It’s a much broader catalogue than it has been in the past.”
In all, there are 92 individual sires represented in Books 1 and 2, including leading sires Sebring (Aus) (53 lots), Snitzel (Aus) (52), More Than Ready (36), Sepoy (Aus) (34), I Am Invincible (Aus) (31), Northern Meteor (Aus) (28), Fastnet Rock (Aus) (26), Denman (Aus) (24), Hinchinbrook (Aus) (24) and So You Think (NZ) (23).
Plenty of interest will also surround the progeny of 22 first season sires, including Dream Ahead (14 lots), Foxwedge (Aus) (30), Helmet (Aus) (8), Love Conquers All (Aus) (7), Pluck (9), Sepoy (34), Smart Missile (Aus) (44), So You Think (23), Toorak Toff (Aus) (8) and Uncle Mo (12).
“The depth of our stallion market is probably the envy of anywhere in the world,” said Cox. “We get to draw on the best stallions in America, Japan, Europe as well as our colonially-raced horses. So, we offer a smorgasbord of high-quality stallions.”
A Stately Setting…
The rapid growth of the sale and Magic Millions raceday attracted attention outside the Thoroughbred industry. The Queensland government took notice as the one-time modest event developed into, not only one of the top yearling venues of the Australian sales season, but a summertime must-do as well.
“There are three big racing carnivals in Australia: The Melbourne Cup, the Sydney Championships and now the Magic Millions Carnival,” explained Cox. “It has grown exponentially in the last few years and is set to get even bigger with, hopefully, the continued support of Queensland Racing and the Queensland government. With their help, we hope we can move up to the next level over the next couple of years.”
Late in the last decade, the Australian Thoroughbred industry took a hit along with many other racing jurisdictions around the world. Not only has Magic Millions weathered that storm, but it appears to have come out bigger and stronger, thanks in a large part to the support of the Queensland government. Buoyed by the influx of funds to drive tourism to the Gold Coast, Magic Millions has reaped the rewards, which have bolstered both the sales and racing industries in the state.
“There had been A$30 million allocated [by the Queensland Government and Queensland Racing] for the Gold Coast Turf Club, of which they spent some $20 million,” said Cox. “They completely refurbished the grandstand, they built a new permanent facility on what we used to call the ‘Southern Lawn’. It’s not really what you would call a big facility, but it’s certainly ranks up there with any facility around the world in terms of look and feel these days.”
The January sale itself has also experienced growth over the past five years. In 2010, the sale grossed A$66,640,500 for 515 head sold, and that figure has since expanded to A$75,082,500 for 521 sold at the 2014 renewal of the sale.
“[Events Queensland] has a lot of confidence in what we are doing and where we are taking this carnival and the sale, and it’s reflected in our results,” said Cox, explaining the company’s growth. “Magic Millions is now the biggest auction house, in terms of turnover, in Australasia, which is largely through the support of Tourism Events Queensland, Queensland Racing, the Queensland Government, and obviously, our vendors and buyers.”
In addition to a catalog that offers buying opportunities for all price brackets, the most basic ingredients that continue to draw families and horsemen and horsewomen alike to the Gold Coast every January remains the wealth of summertime activities and postcard-like locales, comprised of golden beaches, scenic hiking trails, theme parks, shopping, nightlife and entertainment.
“We have sand and surf combined with great racing and a great sales carnival,” offered Cox. “Everybody who is here, whether they are from the Northern Hemisphere or Southern Hemisphere, they’re game. They are prepared to step on a plane for several hours and go racing in other jurisdictions and meet new people, who are also into horses. And if you’re into horses, you’re in club. It gives you access to industry leaders, government leaders the world over. And I think that is very unique in our industry.”
True International Flare…
In recent years, Magic Millions has worked tirelessly at attracting and supporting international patrons. Included among incentives designed to facilitate the travel of international buyers to Australia for a Magic Millions sale is the International Inward Buyers Scheme. Funded by Magic Millions, the program assists clients from all over the world with funding for airfare, accommodations, dining, entertainment and ground transport during the sale. In addition to the various incentives, the world-class racing and top-rung sales prospects have drawn an increasing stream of international buyers, including representatives from, Asia, Europe and the United States.
“We are getting a lot of international interest, particularly from America,” said Cox. “Obviously, over a long period of time we had good European participation. Our strongest market internationally has always been Asia and, specifically, Hong Kong. We’ve been keen to broaden the participation from the Northern Hemisphere player. It’s easy to stand behind your catalogue with stallions and pedigrees that the Northern Hemisphere people can recognize. And that’s on the back of some of those stallions with international pedigrees.”
Slated to attend for the 2015 renewal of the January sale is French-based trainer Criquette Head-Maarek, who only last month took down her second consecutive score in the G1 Prix de l’Arc de Triomphe with supper filly Treve (Fr) (Motivator {GB}).
“We invited Criquette to come down and see what we do and have a little bit of fun,” confirmed Cox. “It’s very exciting to have a woman like her coming down, especially after the wonderful job she did with Treve winning her second Arc.”
Over the course of the past few years, several high profile buyers from the U.S. have patronized the Magic Millions sales, including John Moynihan, agent for Barbara Banke’s Stonestreet, Hill ‘n’ Dale Farm’s John Sikura, representatives of Mt. Brilliant Farm and bloodstock agent David Ingordo. Leaving the biggest impression at Magic Millions’ 2014 renewal of the January sale, however, was retired television executive and California resident Jon Kelly, who snared the $1-million sale-topping yearling. By leading sire Redoute’s Choice (Aus), the colt is out of Hades (Aus) (Encosta de Lago {Aus}), a daughter of champion juvenile filly Hasna (Aus) (Snippets {Aus}).
“That was an amazing result for us,” said Cox. “I’ve known Jon for many years, we’ve been friends, and truthfully, I just wanted to see him come out. I would have been very happy to see him buy a middle-of-the-road horse, but no, he stepped up to the plate and bought the big one [laughing]. It’s tremendously rewarding from the Magic Millions perspective, and certainly mine, personally.”
Named Red Knot, the bay is currently in training with Gai Waterhouse and will ultimately be campaigned in partnership.
“It’s very exciting to have people like that coming and buying at our sales,” offered Cox. “If you get a good colt in this part of the world that wins a Group 1 or a race like the Golden Slipper or a Coolmore stakes, they become A$20-30 million horses, which compares to many jurisdictions in the Northern Hemisphere. On the other side of it, if you turn around and take these horses back to the Northern Hemisphere, these pedigrees stand up anywhere now. This is an international game, they are international commodities and that’s the way it should be.”
According to Cox, securing a member of the fairer sex at Magic Millions can also prove highly beneficial to the American buyer.
“Over a number of years, the American broodmare bred to a colonial, Australian-campaigned stallion punch well above their weight,” explained Cox. “I think with the Australian bloodline, we are very focused on speed and I think that could translate very well to the American industry. I am not suggesting that America is lacking in speed, but hybrid vigor is a wonderful thing and it does express itself prolifically when you can do it.”
Build It and They Will Come…
Not only has Magic Millions proven itself one of the leading venues to buy yearlings in the country, but the backdrop is regarded as one of the top tourist attractions in all of Australia. Add to that lucrative purses and top quality racing, and one is left with a thriving Thoroughbred industry which is quickly becoming a haven for horsemen and racing enthusiasts alike.
“The draw primarily is that we have an amazing, dynamic, racing industry,” said Cox. “The fundamentals in our racing are very strong here, the prizemoney, infrastructure and the participation. Racing is in the daily press, and everyone in Australia has some sort of idea about racing. It’s a fun sport to be part of, it’s a very young industry here.”
While significantly younger than its main Australian counterpart, Magic Millions has developed a reputation for innovation and the ability to change with the times. Case in point: Magic Millions launched an incentive series targeted at women in 2012. Thanks to the contribution of Magic Millions owners Jerry Harvey and Katie Page-Harvey, a A$500,000 bonus was allocated to any all-female owned horses competing on the Magic Millions racedays. In the first year it was implemented, Racing Women eligible horses finished first, third and fourth, headed by the connections of Real Surreal (Aus) (Real Saga {Aus}), who collected the highest purse payout ever in Queensland history. With the ladies in the mix once again last January, first-time owner Louise Gillard landed the Magic Millions Racing Women Bonus after Oakleigh Girl (Aus) (Snitzel {Aus}) collected A$625,000 for running second in the 2014 Jeep Magic Millions 2YO Classic. Now in its third year, the MMRW initiative has attracted the registration of 311 horses wholly owned or leased by women.
“The first running of the race was actually won by a wholly-female owned horse,” said Cox. “It was the biggest payday, ever, in Queensland racing, with the connections collecting approximately A$1.5 million, which is staggering.”
Explaining the need for the for the initiative, Cox explained, “Here in Australia, it has tended to be a male-dominated sport and the boys go to the races and their wives often hang around in the background. Now a days, the women are front and center. The horses have become their horse and, look out when they go to the raceday. It’s been a wonderful concept. It’s brought a whole new level of ownership and promotion for syndicators, trainers and others members of the industry to market it to a different audience.”
Also helping support the initiative to draw more women to the game is the participation of Edwina Tops-Alexander, an Australian who is a world-class showjumper and who was pegged as the 2015 Magic Millions Racing Women Ambassador.
“We are trying to expose the elite, female performers in the equine world and Edwina, truly, ticks that box,” said Cox.
With the women’s racing initiative being just one spoke in the wheel of the continual effort to build on its bloodstock and racing markets, Magic Millions kicks off this season’s carnival with a week-long schedule of festivities, headed by a cocktail party at the Gold Coast Turf Club Jan. 2. Over the ensuing week, this year’s carnival offers patrons a variety of events, including the BMD Sportsman’s Lunch, the Women in Racing Luncheon at the Sheraton Mirage, the barrier draw on Surfer’s Paradise beach front, the Carbine Lunch and the R.M. Williams Launch Party, also presented on the shores of Surfer’s Paradise.
“It is a phenomenal destination; the beaches, the weather, the parties and the fashion are just spectacular,” explained Cox. “There are theme parks for the kids, restaurants to die for and views that are simply out of this world. When you contrast that to that time of year in Kentucky, Ireland or England, it will blow your socks off. It really is something to be seen.”
With everything the Gold Coast has to offer in January, Cox sums up the entire experience succinctly.
“The weather aside, the thing people really enjoy about being on the Gold Coast is that is a very relaxed time of year, people do have a great time, they catch up with a lot of people in a fantastic environment,” he said. “It is just a
wonderful time of year to be on the Gold Coast.”