MAGIC MILLIONS : Gold Coast, Australia
Tuesday, January 13, 2009 at 03:20PM 
Gai Waterhouse with Lot 127 Encosta De Lago - Surrealist
(Sportpix)
“Surprisingly satisfying” was the billing at the end of the Premier session of Australia’s big sale in Queensland, Magic Millions.
Salient features:Top price of Aus $2million for a son of Encosta de Lago.
Clearance rate of 80%, an excellent result given the economic climate.
An average of Aus $131,632 (against Aus $157,321 a year ago), down approximately 16 -17%.
Managing Director David Chester expressed himself as “pleasantly surprised”, while Australia’s biggest man in advertising, John Singleton, was effusive in his reflections.
“It’s the only economic indicator that’s got me bluffed. No one would’ve picked that, not one of us believed that would have happened. It’s gone against the trend of the stock market, the inflation rate, the unemployment figures, the sales of Europe and Kentucky. It’s an amazing result”.
