Magic Millions Yearling Sale record broken three times in three days

Records have been broken for the second time in 24 hours at the Magic Millions Yearling Sale on the Gold Coast, with a colt selling for $2.7 million.

The sale's fifteen-year record of $2.2 million first fell on Wednesday afternoon and was surpassed again on Thursday evening and Friday morning.

But why, and how, can bidders justify spending millions of dollars on young horses when they have never hit the racetrack?

It's a combination of breeding pedigree, the horses' conformation and a little faith, says general manager of Hunter Valley's Segenhoe Stud Peter O'Brien, which sold the multi-million-dollar colt to Coolmore Australia.

He said it could be hard for people to wrap their heads around the big numbers.

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Article written by: Amelia Bernasconi