The fact that the National Sales Series has been able to proceed, through a global pandemic which has caused unprecedented restriction of movement of people is a tribute to the determination of both Magic Millions and the vendors, who need to get their horses sold.
The two-month delay of the series from its traditional dates means of course that the Yearling Sale is that in name only, with the entirety of the 460-strong catalogue having turned two on Saturday.
But of greater consequence has been the resurgence of COVID-19 across Australia's two most populous states, Victoria and New South Wales, which has seen many potential buyers shut out of Queensland.
While the key indicators for both last week's Broodmare Sale and Weanling Sale held up remarkably well amid a period of significant economic uncertainty, Magic Millions Managing Director Barry Bowditch believes the Yearling Sale is probably most vulnerable to a shortage of buyers.
Magic Millions Managing Director Barry Bowditch
"It's a Sale where we are coming toward with a few concerns in that we don’t have any internationals in play here, we’ve got Greater Sydney unable to attend and Victoria unable to be here. Some of the other states have restrictions as well, which makes it difficult. The market is quite diluted with foot traffic here on the ground," he said.
"It's Magic Millions' job to engage with as many people as we possibly can and give them as much opportunity as they need to bid on the product we do have here on the ground."
"It's a Sale where we are coming toward with a few concerns in that we don’t have any internationals in play here, we’ve got Greater Sydney unable to attend and Victoria unable to be here." - Barry Bowditch
KBL Thoroughbreds, the top Queensland-based vendor from last year's National Yearling Sale, will take a draft of 25 through the sales ring on Monday and Tuesday. While inspections have been solid, Managing Director Kandice Pritchard said the depth of the buying bench is foremost in her mind.
"We were busy here yesterday (Saturday) and fairly busy this morning. You just have to hope there are enough buyers. There are people walking around, it's just a matter whether it's enough," she said.
"It will depend on whether or not these trainers who are here, who usually buy four or five, if they might only buy one, because of everything that is going on. There's a lot of people that have lost jobs, or people who have had businesses shut the doors, everyone has tightened things up a bit."
The impact of the broader economic situation is difficult to gauge, especially considering up until this point it has had a small impact on the bloodstock market as a whole.
Realistic market creates opportunity
Bowditch said that while prizemoney remains strong, savvy buyers will still see the opportunity, especially in a market with less competition. He is confident vendors recognise this and will set their reserves accordingly.
"The vendors that came to this sale are always very realistic. They bring their horses here to sell and for anyone that is in the market to buy one or more yearlings, this is a great opportunity to do so," he said.
"There are a lot of well-bred horses that have been extremely well-raised. There is good stock on the ground, and the prices some of them are going to be making will be quite a bit less than people may expect."
The other two aspects Magic Millions are counting on are the lure of its rich race series, and the increased amenity for buyers to get involved.
"There are a lot of well-bred horses that have been extremely well-raised." - Barry Bowditch
"We’ve got 400 yearlings here that are eligible for the $12 million race series. There is opportunity here. The prizemoney in Australia is still fantastic, and we have a god catalogue of horses," Bowditch said.
"There are a lot of agents here on the ground, and so we are hoping that those that can not attend themselves, can make a plan and still participate in the market over the next few days, whether it be through an agent, through Magic Millions or bidding online."
Pharoah colt heads KBL offering
KBL Thoroughbreds certainly has faith in the top end of its draft, which is headlined by a colt by leading freshman stallion American Pharoah (USA).
Lot 1291 is out of the Listed winner Pearl Star (Star Witness), making him a half-brother to recent Victorian winner Cumberbatch (I Am Invincible), from the extended family of Group 1 winner Spectatorial (Spectrum {Ire}).
"He's such a nice forward horse and probably our pick of the draft," Pritchard said.
He is one of two KBL is offering which, due to the late timing of the Sale, has already been broken in.
Watch: Lot 1291 parade
The other is a colt by Sweynesse, Lot 1492, out of Beyond Comparison (Mossman), who is a half-brother to stakes-placed Nothing Compares (NZ) (Jakkalberry {Ire}), who Pritchard also describes as very forward.
"The two standouts are broken in and ready to go. We are trying to encourage people to think they are up and going and there won't be that extra step there," she said.
Additional highlights from KBL are Lot 1442, a filly by Pride Of Dubai out of the family of Group 1 winner Politeness (Street Sense {USA}), Lot 1263, a Vancouver gelding who is a half-brother to stakes-performed Billy The Kid (NZ) (Savabeel), Lot 1296, a Lonhro colt closely related to recent Brisbane winner Kylease (Lonhro) as well as quality fillies by Extreme Choice (Lot 1413) and Shalaa (Ire) (1429).
"We feel like we have something for everyone. There's a good variety there," Pritchard said.
Challenges in getting horses to market
Preparing for this Sale hasn't been straightforward for Pritchard and her team, but they are just grateful to get the chance to offer the horses through the ring.
"It's been a bit stressful. We have had to have them in another week. It’s the first time we have ever had late yearlings in the barn, while we have mares foaling. It’s stressful for a vendor. It’s been a long prep and there's a lot that goes with it," she said.
"It’s the first time we have ever had late yearlings in the barn, while we have mares foaling." - Kandice Pritchard
"We had to take our mares and weanlings back and forth from here, but I guess we are lucky to have a sale at all. We can't complain, at least we are live. We get the opportunity to show people the horses rather than being online."
Kandice Pritchard
Bowditch agrees that the fact the Sale has been able to proceed in its usual form, albeit on a delayed time frame, can only be a positive for those willing to invest. As the traditional sales season closes, he says the overall outlook across the industry remains positive.
"There's no question in most cases, the market has stood up very well. We had a very solid Broodmare Sale and we had a 75 per cent clearance rate in the weanling sales, with a reasonable average. We are happy with that," he said.
"This market is probably one that each and every year is a little bit tougher, but I think it's a sale that people need to pay attention to and participate wherever and however possible."
