Champion trainer Peter Moody made the early running when the Gold Coast Magic Millions yearling sale began on Wednesday.

Moody paid $850,000 for Lot 30, the Redoute’s Choice brother to Golden Slipper winner Stratum offered by Reavill Farm.  “He’s all quality,” Moody said.  “He has an exceptional pedigree being a brother to a Slipper winner and is just an all round athletic colt.”

Bidding on the colt started at $300,000 and quickly rose through the $500,000 mark before Moody got him with a single $850,000 bid.  “I thought he was the colt of the sale and would have been prepared to give a little bit more.”

The colt’s full brother Stratum is a graduate of the same sale ring and went on to win the Golden Slipper Stakes before retiring to Widden Stud where he has met with exceptional early success.  He was crowned the Champion First Season Sire of Australia in 2009-10 after his daughter Crystal Lily scored a dramatic win in Golden Slipper.

Second on the Day 1 leader board was a Flying Spur colt (Lot 193) that made $440,000.  He is from Sydney G3 winner Fumble and was purchased by the Hong Kong Jockey Club.

Gai Waterhouse parted with $410,000 for a More Than Ready colt out of G1-winning Doomben Cup mare Cinque Cento (Lot 66).  Hong Kong-based John Moore paid the same amount for a Shamardal colt out of Confidential Miss (Lot 77).

Champion sire Encosta de Lago had the next two highest-selling lots with a colt out of Devil’s Gold bringing $400,000 from the Hong Kong Jockey Club, while Ingham Racing bought the top-priced filly, out of Fiammarosa, for $350,000.

Magic Millions managing director Stephen Silk said the opening day was in line with expectations.  ”It started a bit slowly and it is definitely still a buyers’ market,” he said.

Day 1 saw a 75% clearance rate with an average of slightly more than $127,000.