Segenhoe Stud owner Kevin Maloney created a new high-water mark at the 2012 Gold Coast Magic Millions when he paid $470,000 for a More Than Ready colt on Thursday morning.

The colt highlighted the first hour of trade on Day 2 of the Gold Coast yearling sale.  Maloney had purchased Baramul Stud’s Redoute’s Choice – Miss Jakeo colt that topped Day 1 at $450,000.

The More Than Ready colt was also catalogued by Baramul and is from LR Morphettville Guineas winner Presenting (Redoute’s Choice).  It’s a blueblood family tracing back to champion mare Denise’s Joy.

Maloney purchased Segenhoe 12 months ago and then began stocking the historic property with quality bloodstock.  He topped the 2011 Inglis Easter yearling sale with a Redoute’s Choice – Regrowth colt that realised $1,875,000.

Maloney then paid $1 million for Sister Madly (Redoute’s Choice) at the 2011 Magic Millions National Broodmare Sale and she struck form with victories in the G2 Salinger Stakes and G3 How Now Stakes at the Melbourne spring carnival.

Sister Madly was already one of the most valuable mares in training being a half sister to Hong Kong’s world-champion sprinter Silent Witness.

Maloney also paid $150,000 for Irish Dream (Falbrav) at the Magic Million National Sale and she won a stakes race at Moonee Valley in September.

Maloney founded the MAC Services Group Limited which supplies accommodation services to the coal mining, construction, resource and tourism industries.  Before branching out on his own, the Sydney based businessman had worked for ANZ Bank and Elders Limited.