Australia, 11 June 2008

73% clearance rate as middle market remains tough

A gorgeous filly by Australia's leading sire Encosta de Lago today topped the second and final select session of the Magic Millions National Yearling Sale on the Gold Coast.

Les Tinkler, father of Patinack Farm owner Nathan Tinkler, purchased the filly and outbid both Coolmore Stud and Dean Watt to secure the well bred youngster for his Serene Lodge property.

Tinkler had to go to $335,000 to secure the filly who was catalogued for the auction as lot number 2497.

Consigned by Southern Cross Breeders, the association of thoroughbred nurseries Ashleigh, Byerley and Riversdale, the filly is closely related to former outstanding Encosta de Lago filly, the multiple Group One winner Mnemosyne.

"She was our pick of the sale," Tinkler said. "She's a lovely filly, really correct and has a great pedigree."

"And after her days on the track she'll go well with Casino Prince," he quipped.

"We've purchased a great bunch of yearlings here over the past couple of days and she's the pick of them," Tinkler summed up.

The team from Serene Lodge signed for 15 yearlings over the two day sale at a total spend of $1,137,500.

All up over the past two days of the sale some $7,779,000 was traded on 257 lots at an average price of $30,268.

Magic Millions managing director David Chester said buyers shopping for value at the National Sale were thrilled with the opportunities available.

"We've had a strong buying bench from around Australia and overseas here over a number of days and they've been busy buying horses to suit their budgets," Chester said.

"Vendors with quality offerings have been justly rewarded with strong competition on their lots," Chester said.

"The middle market, which has been the case with every sale in Australasia this year, has been tough throughout the sale."

"I'm sure those who've been buying in that area would be thrilled with their purchases and this sale in particular will be looked back on as one of the best value held in recent years."

SALE STATISTICS

Lots Sold: 257
Sale Aggregate: $7,779,000
Average Price: $20,268
Top Price: $335,000
Lots Withdrawn: 94
Lots Passed: 94
Lots Catalogued: 445
Sold %: 73.22