Australia-2009 Bloodstock yearling sales Wednesday 7 January.

AUSTRALIA.

MAGIC MILLIONS YEARLING SALES.

The most important thoroughbred horse sales begin on Wednesday in Australia and there is an entry of 1,300 top class yearlings.

The current low Australian dollar, makes it look very attractive for overseas buyers, however the downturn in the Australian economy is not looking good for potential Australian buyers.

David Chester, the head of the sales said, "We expect big numbers in attendance at the auctions, but the global economic crisis is likely to keep prices down".

The prices are expected to be as low as 40% below the sale in 2008, according to a reliable bloodstock agent who bought 11 yearlings last year, but only has orders for 3 yearlings on Wednesday.

Yearling sales are the biggest gamble in the racing industry, the horses are only halter broke, never tried and tested and you only have the bloodlines to work on