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Bowditch happy with figures at end of the day.

After getting off to a slow start, trade picked up throughout the day and at the close of day one Magic Millions reported that the clearance rate, which had been around the 60 per cent mark early on, had lifted to 75.95 per cent. 

Meanwhile, the average ended up at $39,617, down from $41,289 in 2019, and the median, which ended the day at $30,000, which was a $2,000 increase from 12 months ago. The aggregate sat at $7,131,000, having been $7,060,500 at the same point in 2019.  

Despite the slow start, Magic Millions managing director Barry Bowditch, by the end of day, was happy with how the figures closed off. 

"We got off to a really sticky start," Bowditch said. "It was very tough out there with a soft clearance rate.

"But as the day went on vendors met the market and buyers got a bit more confidence to bid up and the sale gathered speed.

"We had a slight increase in gross and a little higher clearance than day one last year – all in all it was a good sale.

"Horses that meet the criteria for buyers are being keenly sought after," Bowditch added. "It's a very selective market.

"The buyers are saying there's plenty of nice horses to be offered tomorrow and I think the sale will continue to pick up momentum for book one and then into book two where there will be plenty of opportunities for buyers."

Baramul Stud finished the day as the leading vendor by aggregate having sold 15 yearlings for $580,000 at an average of $38,667 whilst Armidale Stud were leading vendors by average (three or more lots sold) having sold five yearlings at an average of $88,500. 

Woodside Park's Rich Enuff (Written Tycoon) had seven lots sell for $341,000 on Tuesday to finish the day as the leading sire by aggregate with Street Boss (Street Cry) leading the way by average (three or more lots sold) with three yearlings having sold for $270,000 at an average of $90,000. 

Victorian-based buyers accounted for almost 50 per cent of turnover having spent $3,103,000 on 69 lots whilst South Australian-based buyers bought 47 yearlings for $1,724,500. 

Book 1 continues on Wednesday with Lots 261 to 401 and is immediately followed by Book 2 which comprises 119 lots.