The results for the Magic Millions Gold Coast Yearling sale are only just starting, with day 2 finishing with three million dollar yearlings.
MM Gold Coast Day-2: Top Sellers
- $1.3 million – More Than Ready x Purespeed colt (Gai Waterhouse & Adrian Bott Racing/Aquis Farm/Blue Sky B’stock/Dermot Farrington)
- $1.1 million – Snitzel x Sabanci colt (Waller Racing/Mulcaster B’stock)
- $1 million – Medaglia d’Oro x Sangfroid colt (Little Kwok Hing Hung/Bahen B’stock
But what happens when the buzz fades? Are they worth the cost?
Aquis Farm sold this colt by Medaglia d’Oro for $1million to Little Kwok Hing Hung and Bahen Bloodstock. (Photo thanks to Magic Millions and Aquis Farm).
The sales season is nearly upon us again, and once again there will be a few yearlings that sell for astronomical money. Consider this – in June, 2015, the median house price across Sydney hit $1million. Not the central city suburb of Sydney, but the whole Sydney basin. There is some risk when you buy real estate, but compared to other investments, the risk is fairly low. For the same money as the median house in Sydney, you can buy a top-line yearling – an ‘investment’ that comes with fairly substantial risk.
Not everyone who buys a yearling does it for the long term investment. The purchase of a million dollar yearling is, in most cases, part of a long term investment strategy. The risks in buying a horse are obvious to anyone who has been in racing for a while. Alongside risk comes reward. What are the potential rewards for someone buying a million dollar yearling?