Magic Millions
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Magic Millions Sales Pty Ltd is an Australian Thoroughbred racehorse auction house which holds a sale each January at Surfers Paradise in Queensland. Seven (plus) days of auctions are joined by a major Thoroughbred horse race meeting where all nine 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 Gai Waterhouse at the 2007 Magic Millions where the top Australian trainer purchased a Sadler's Wells colt for $2 Million AUD.
In the late 1990's 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.
