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Magic Millions Weanlings: Select Average Down 30.1%
Overall after the 2 Select Sessions at the Magic Millions National Weanling Sale, 281 lots had sold for $7,355,000 (down 46.8% on last year's 368 for $13,823,250). The average of $26,274 was down 30.1% (last year $37,563) & the clearance rate was 70% (last year 85%). Magic Millions managing director Vin Cox commented: "Most vendors met the market today in what has been a tough sale so far." He said the absence of a number of regular buyers "due to the high Australian dollar" was having an impact on prices across the board & noted: "The most significant impact on the sale has been the reduced participation from traditional supporters - mainly New Zealand buyers."