According to Mudgee born managing director of Magic Millions Bloodstock Vin Cox, a million dollar spend on a yearling may not eventuate due to economic pressures.

“I would be surprised if we see a seven figure horse (this year),” said Mr Cox prior to the sale (who incidently only took over the managing reins in April last year).

“We are in interesting times with the GFC and its repercussions.”

But Mr Cox did state there were a lot of very nice horses on offer and there were probably about six or seven colts that could potentially make their way towards the “big” one million dollars.

“But if people want to step out and spend a million dollars at this stage I don’t know.”

Money may prove tight, but the regular domestic and international contingent of buyers are on site for the 989 catalogued horses to be offered over six selling sessions (finishing this Sunday), of a sale which began 26 years ago with less than 200 horses.

In all but one during the past five years at the Gold Coast “Millions” there has been a million dollar plus horse that topped its sale; last year it was a at $1.150m, and its peak being $2.2m in 2008.

“Being the first sale (the Magic Millions) of the year, vendors are always nervous and a bit on edge, about where the market is going to be.”

According to the Australian Racing Fact Book buyers spent $246.88m on 4646 yearlings that were sold (for average of 53,138) in 2010-2011, $63.669m of the total at the 2011 Magic Millions Gold Coast Yearling Sale (515 sold, for average $123,629).

As always, Australian champion sires Encosta de Lago (standing at Coolmore stud, Jerrys Plains) and Redoute’s Choice (at Arrowfield stud, Scone), will be in the spotlight.

One of the early attractive lots at the sale is a colt by Redoute’s Choice (from I Got Chills), pictured with Mr Cox, and will be offered by the John Singleton owned Strawberry Hill stud, Mount White.