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Magic Millions Weanlings Day-1: Average Down 37.1%

Thursday, 26th May 2011

Overall during Day-1 at the Magic Millions National Weanling Sale, 131 lots sold for $3,425,000 (down 55.8% on last year’s 209 sold for $7,743,500). The average of $23,299 was down 37.1% (last year $37,050) & the clearance rate fell to 69% (last year 88%). Magic Millions managing director Vin Cox commented: “It is a tough market at the moment & today was no different. There are a number of factors that are in play - including the economy & the high Australian dollar, which is limiting the spend as well as keeping down the numbers of international visitors. Most vendors met the market on a tough day & those who supported the sale with quality individuals were rewarded.”

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