Redoute's Choice stars again at Magic Millions

If the 2009 Conrad Jupiters Magic Millions Yearling Sale lacks the frenetic

pace and electric atmosphere that prevailed last year, there is nevertheless a

rising sense of optimism at the Gold Coast sale complex, as Australasia's first

major indicates that the industry is standing on impressively solid ground in a

climate of global economic uncertainty. Buyers and vendors alike seem unanimous

in their view that the sale is stronger than anticipated, and the clearance rate

has steadily improved to close to 80 percent, with the average on A$134,711

ahead of the fourth and final select session, starting Saturday after

the sale company's A$5 million raceday across the road from the sales complex.

Gross receipts total A$58,578,500 with 420 sold, and buyers believe that they

are getting value for money, by and large, but there is genuine competition on

sought-after yearlings, particularly just below the top tier of the market.

The top price of Friday's third session was the A$1.2 million for Hip No. 515, a

high-profile

Redoute's Choice--Kapchat (Centaine) colt consigned by Widden

Stud. The colt, a half-brother to Group 3 winner Kaphero (Danzero) and a

three-quarter sibling

to multiple stakes victress Princesa (Danehill)) as well as the stakes-placed Keeneland (Danehill) and Wasimah (Danehill), was knocked down to Victorian owners Peter Devitt and Les

Gordon,

who have had considerable success on the racetrack over many years. The same

pair

purchased the colt as a weanling for A$630,000 as part of Adam Sangster's

Swettenham

dispersal at Magic Millions last June. The impeccably bred youngster will join

the stables

of the leading trainer of juveniles in Australia, David Hayes. The conditioner

has been

quiet on the buying end of the business at this sale, having announced last year

he would be curtailing his purchases substantially in 2009 for his Lindsay Park

operation

during a period of restructuring.

Demand for yearlings by Coolmore's champion sire Encosta de Lago, who has

had

22 go under the hammer to date at an average of A$332,955, was among the

dominant

themes Friday, with Scone-based bloodstock agent Kieran Moore snapping up Hip 531, an Encosta

de

Lago filly from Group 1 heroine Larrocha (Danehill) for A$750,000. Moore was

acting on behalf of Hong Kong owner Deborah Ho. Consignor Bill Benson of Emerald

Thoroughbreds gave A$680,000 for the filly as a pinhook prospect from the

Swettenham

dispersal.

"We bought her in an 'up' market, and we put her back in unprotected,

we

didn't play any games," Benson commented. "We had about three people bidding on

the

horse, and in the end Deborah Ho bought her. It is a happy situation, we made a

little bit

of profit. Some good judges said in a normal market she is a A$1.5- to

$2-million filly. I

think she is a magnificent, scopey filly, a potential Oaks winner."

Her

full sister, the Guy Walter-trained Rocha, was last seen out when a gallant fifth to

Samantha Miss (Redoute's Choice) in the VRC Oaks (Aus-G1) November 6, after

winning the Wakeful S. (Aus-G2).

Magic Millions Managing Director David Chester said the biggest surprise of the

day was A$600,000 given by Queensland trainer Alan Bailey for a colt by

Commands,

the highest price for a yearling to date by the Woodlands-bred son of Danehill.

The colt

was offered by Ashleigh Thoroughbreds, a Scone farm that combines with fellow

Upper

Hunter Valley nurseries Riversdale and Byerley to sell under the banner of

Southern

Cross Breeders. The colt had a reserve of just A$90,000, and his breeders were

crossing

their fingers, hoping for A$200,000 after he was inspected frequently. The

previous

highest price for an offspring of Commands was A$520,000 for a filly sold to

John

O'Shea at this sale in 2006, although stakes heroine Commands Nothin' sold for

A$620,000 as a broodmare.

Trainer Gai Waterhouse remains the leading purchaser with 21 secured for just

more than A$6

million, but the Hong Kong Jockey Club is also snapping up horses at an

eye-catching

rate, with 17 bought for a total of A$3,040,000, including Hip 574, an Encosta

de Lago colt out of Golden Slipper winner Merlene (Danehill) for A$510,000. The Hong Kong Jockey Club's Mark Player said the club would do

everything it could to ensure the colt remained an entire.

"Last year we gelded

the

majority, but kept five as colts, and we are very hopeful they might go on to be

stallions.

This is another one we would do everything we could to leave him as an entire,"

Player

said. "He is by one of the best sires in the world, he has got a great page

-- the

mare has

had one really good horse (South African filly Merlene de Lago), and a

couple of

others who were very promising but just didn't quite go on with it. When you

really look

at him, he is an outstanding individual."

The colt will be prepared

for the

unique Hong Kong International Sale of ready-to-run horses and will be marketed

to a

handful of licensed Hong Kong owners. The HKJC never looks to turn a huge

profit, but

would obviously welcome a return on their investment.

"We think we have got good

value, but we have got to resell him," Player explained. "The market is stronger

than we

expected it to be. We expected to see a bigger decline...we are trying to find

the right

horses to make good tough sprinter-milers, (and) the market on those horses is

not very different to what it was last year. Encosta is the sire of

wonderful horses

like (Group 1 winner) Sacred Kingdom, and our members want to race horses of that

caliber. The dollar is in our favor at the moment, but foreign currency -- it is

swings and roundabouts. This year it has helped us, last year it hurt us a lot."

Chester commented on the current state of trade.

"The whole sale is a lot better than anyone expected

and it

has showed the way for the rest of the sales coming up right up to Easter,"

Chester said.

"Two or three vendors have

100 percent

clearance, as the clearance rate has crept up -- 79 percent is a fantastic result

at any time. Maybe things aren't as bad as everyone thought. The

Japanese

are surprised how strong the sale is. Some buyers have been blown out of the

water, but

let's not delude ourselves, the sale is still down from $157,000 to $134,000."