The Magic Millions on the Gold Coast looks a hell of a lot of fun and the company has done an amazing job to build this sale from humble origins to becoming a week of the nation’s biggest trainers and bloodstock agents having a massive party and then spending huge amounts on yearlings.
I’ll admit, I’m jealous – all of us busting our chops to earn a living are jealous, why would we not be?
I am a tad puzzled though by the racing media’s coverage of the sale. Obviously it is a big event on our national industry’s calendar, so the media are right to be there, reporting on all the fun. But the basic fundamentals of thoroughbred yearling sales seem to get lost in the party atmosphere. When it is reported that a trainer has had “a great sale!” because they have bought several yearlings for massive prices, surely I am not the only one thinking “unless, that is, they can’t run, in which case the trainer is having the worst sale of all time!” Spending crazy amounts is not generally good buying is it?
Of course, there is truth in the old maxim “buy the one you want, not the one you can afford”, and some of the biggest buys work out well for all involved. But for my money (limited as it sadly is) those who seek and find the best value are actually the best buyers.
Maybe the journalists could instead report on all the yearlings from 2 years ago that the big trainers paid massive money for and which have failed to win a race. Now that would be an interesting show to watch! (and the end of the journalist’s sales reporting career!)