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Magic Millions QTIS Yearlings Day-1: Average Down 9.3%
Overall on Day-1 at the Magic Millions QTIS 600 Yearling Sale, 171 lots sold for $3,394,500 (down 7.1% on last year's 167 sold for $3,654,500). The average of $19,851 was down 9.3% (last year $21,883) & the clearance rate was 70% (last year 80%). Magic Millions acting managing director David Chester commented: "The sale held up very well despite the natural disasters that have badly affected Queensland racing this year. The average & clearance are down on last year's sale, but you need to take into account that we are selling an extra 100 horses in this year's session, which adds a lot of pressure to the average & clearance rate. However on a positive note, these factors are very much in buyer's favour, as there is great value in the market at the moment."