An English businessman, on his first trip to Australia, has paid $2.8 million for a thoroughbred yearling, setting a new record.

The colt offered by the Hunter Valley’s Widden Stud is the most expensive horse ever sold at the Magic Millions Gold Coast Yearling Sale.

Widden Stud owner Antony Thompson said it was a very special moment for the whole team.

“We knew we had a lovely horse on our hands … but to see him sell for a record price at the Magic Millions of $2.8 million was really stunning and quite humbling.”

The colt’s mother Humma Humma was a “fast mare” on the track before starting a broodmare career.

Its father, Snitzel, is one of Australia’s top stallions, with a service fee of almost $250,000 and dozens a group race winning progeny.

Snitzel also sired champion racemare Winx’s 2024 foal.

Buyer of the $2.8 million colt Ciaron Maher Bloodstock, fronted by one of Australia’s leading horse trainers, was bidding for English businessman Phil Cunningham, who owns a stable in the UK.

The previous record of $2.7 million was set at the 2023 sale, when longstanding records fell three times in three days.

Widden Stud also holds the record for the most expensive filly traded through the Magic Millions Yearling Sale, $2.6 million, set in 2023.

Paying with pounds, bidding in dollars

Widden owner Antony Thompson said bidders “really went to war” over the colt.

“Once we got over $2 million there were really two camps on either side of the auditorium in deep discussion.

“It feels like a lifetime waiting for the next bid and the pause in bids you think, ‘Maybe this is it, they’re done’.

Mr Thompson said buyer Mr Cunningham had a strong footprint in the UK and was excited by his entrance to the Australian market.

“[He] races more than 50 horses in England at any one time,” Mr Thompson said.

“I guess paying with pounds and bidding in Aussie dollars at the moment gives him a big advantage.

Ciaron Maher said he knew the unnamed colt would bring top dollar.

“He was a standout for us and those top-line colts you always know you’ve got to bid up for them … probably a little bit more than I expected but those quality horses, you’ve always got to pay up,” he told Sky Racing.

Bright future

Mr Thompson said the international interest at the sale was a credit to the state of the Australian racing industry.

“We have more races worth a million dollars than any other country, we have great prize money, a great love of racing and it’s a very popular sport.”

He expects a bright future for the colt on and off the track.

“It was the real strength and athleticism and the way the horse handled himself that added to the price.