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Magic Millions Select Mares Day-1: Average Up 29.7%

Tuesday, 29th May 2012

Overall on Day-1 at the Magic Millions National Sale, 144 lots sold for $8,078,750 (up 9.2% on last year's 171 sold for $7,397,350). The average of $56,102 was up 29.7% (last year $43,259) but the clearance rate fell to 68.3% (last year 76%). Magic Millions managing director Vin Cox summed up: "It was a very selective market today. Buyers were prepared to pay for the right product. The disappointing aspect to the sale was that some vendors haven't come to terms with the reality of the market."

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