Motion at Magic Millions: Part Three

A few hours away from the sale gave me a chance to think

about the media, marketing and event mix that is so much a part of its success.
Like the Breeders' Cup, the week leading into Saturday's $A10 million race-meeting is organised around a series of events starting off with Tuesday's Barrier Draw. The format is familiar, but the setting is very different because it's held with horses and riders on the beach at Surfer's Paradise. Even though the weather wasn't good, it worked very well and the coverage on social and traditional media was extensive.
On Tuesday evening there was a big cocktail party hosted by Magic Millions owners Gerry Harvey and Katie Page-Harvey–it was good fun, very exciting, and launched the week in champagne style.
Apart from that, I've been struck by how much media attention the whole event attracts. Because it's tied in with the races and racing is such a big deal over here, there's a lot of interest in what's going on.

Johnny Velazquez and I have done umpteen interviews with radio personalities, local newspapers, Sky Racing, and media not related to horse-racing. It all adds up to a lot more media interest than a similar sale would attract in the States.
It's also an event that's built around the trainers–trainers are so involved in the buying process here, which is not necessarily the case in the States where agents tend to do a lot more of the purchasing.
The syndication market is bigger in Australia too. In the US there are a few syndicates that are very well-known, such as Team Valor and West Point, but trainers here may have several syndicates among their clients.
What's really clever about the Magic Millions week is that it's extremely well-managed and promoted like a top-end event such as the Breeders' Cup, yet it's readily accessible to everyone. That's where the flair and experience of the company's owners in retailing, marketing and communications is most obvious.
I returned to the sale in time to see the colt by Snitzel from Mirror Mirror (by Dehere) knocked down to Sydney trainer Gerald Ryan and Jadeskye Racing for $A1.6 million–the highest price of the first two days.
And it was great to discover that Animal Kingdom has averaged $250,000 for his first three yearlings. Their buyers –a private owner, a syndicator and a trainer–reflect this diverse and dynamic marketplace.