The drive for new breeds - horse and owner alike

Michael Lee
Monday, January 11, 2010

While the Gold Coast may not be the epicentre of Australian horse racing, come every January, it certainly takes centre stage thanks to the Magic Millions

The leading thoroughbred sales company then hosts both the Magic Millions Yearling Sale (6 to 14 January) and ten days of Carnival surrounding its glamorous raceday, which last Saturday saw the crowning of hometown girl Military Rose in the Group 1 Magic Millions Classic (2YO).

With its business model focused on both domestic and overseas markets, Singapore has over the last few years become one of Magic Millions’ most lucrative regions.

Singapore trainers and owners are frequent visitors at their sales, be it auctions at Gold Coast, Perth or Adelaide or at private sales. Some of the notable Magic Millions graduates to have made their mark in Singapore are Hulk (2004 winner of the Juvenile Championship), Handsome Jazz, Richest Gift and Marco Kid, to name a few.

Such growing support has been reciprocated by Magic Millions with the sponsoring of a feature race, the Group 3 Juvenile Championship.

In its bid to strengthen up its Asian foundations, the Gold Coast-based outfit has since 2008 designated a local representative with an office in Singapore – Wade Burridge (pictured above).

A horse business management scholar from the prestigious Marcus Oldham College, the 26-year-old was a shoo-in for the job, thanks partly to his knowledge of the region, acquired through his father, Kranji-based trainer Steven Burridge.

“Of course some of my clients have been from dad’s stable, but as a Magic Millions agent, I service all trainers and owners,” said Burridge, who is currently at the Gold Coast Sales

“They’re the ones that make racing happen in Singapore and that’s our main focus.

“My job is to get trainers to the sales, and buy at yearlings and ready-to-run sales, which is what I am doing now at the Sales - make the transition as smooth as possible.

“For private sales, I usually deal directly with owners and they can be from all stables really.”

Burridge mentioned Drovetti, Bionic Boy, Royal Suit and The Big Gee as some of the best horses he has sold to Singapore clients, who comprise the likes of trainers Michael Freedman, Patrick Shaw, David Hill and Desmond Koh, and his “most supportive owner”, Masa Otani (Big Valley Stable of El Dorado fame).

“The Big Gee and Royal Suit were two good ones with Masa Otani. He’s been the most supportive owner and now he has a very promising sort in Alacarte,” said Burridge.

“Overall, I had a good year (2009), sold about 32 horses privately, including Hong Kong, Malaysia, Macau and Japan, and sales have gone up from this region.

“Like in any business, you’ve got to get on the front foot now, and keep in front of the chasing pack who are also planning to attack the market in 2010.”

Being a young racing enthusiast himself and in line with Magic Millions' emphasis on hitting the ground with renewing stocks, Burridge believes one of the ways forward is to shift the focus to a younger market, while maintaining the established guard.

“My aim is to bring into the game the new owners, both local and expatriates. I personally know a few groups of racing enthusiasts who want to be part of racing,” said Burridge.

“For example, Benji Lee's stable had his first two runners (Benji’s Glory – 3^rd and Benji’s Pride – 2^nd) in the last two weeks. Benji’s a new owner, a real gentleman - just a racing enthusiast.

“We also have a group of expats who have some babies into the stable at the moment.

“I’m sure there are more out there but they should come and spend a day at the races more often.

“At the moment I see racing as a business to Singaporeans, as in the gambling and so forth, but we need to change that culture for new owners to want to be involved in racing here.”

After five days of sales, Magic Millions have reported healthy sales figures with 910 lots knocked down for around A$73.3 million. At A$925,000, the sale topper was a Redoute’s Choice colt, half-brother to champion juvenile Hasna, who was bought by a joint venture between Mark Pilkington for Lindsay Park and Bill Vlahos for BC3 Australia.

Singapore buyers have also been busy up to Sunday, parting with A$1.54 million for 17 lots with the highest price commanded by a General Nediym colt who went for A$280,000 to Jayven See.

Dr Yeoh Kheng Chye has however been the biggest spender among Singaporeans, bidding successfully for six lots for a total of A$427,500, the most expensive being a colt by 2005 Blue Diamond Stakes winner Undoubtedly.

New Windows 7: Find the right PC for you. Learn more.