MM National Yearling Market "Polarising"

Across the day on Day-1 of the 2021 Magic Millions National Yearling Sale, just over $7 million was traded on 112 lots sold at an average price of $63,887. The clearance rate sits at a disappointing 57 per cent. "I think it's an extremely polarising market and the clearance rate is far from satisfactory, and over the next 24 hours we'll be working very hard to increase the clearance rate to a satisfactory level," Magic Millions Managing Director Barry Bowditch noted. "Buyers, agents, trainers and owners out there need to be paying attention to this sale. They need to be doing their research overnight leading into tomorrow because there's so much opportunity out there." Bowditch added, "On the other side of the coin, I think vendors need to set their reserves low and give the market an opportunity to gain some confidence and obviously give themselves an opportunity to sell these horses. This is the end of the line from a selling perspective for the yearling market and it would be good to be able to sell a higher percentage of these horses over the next couple of days." To view the sale results or to make an offer on a passed in lot click here. Day 2 of the sale commences at 10am (AET) today.