A Magic time of year

Written on the 30 November -1

Magic Millions makes its mark internationally

SINCE Gerry Harvey, John Singleton and Robert Ferguson bought the Gold Coast's Magic Millions in 1997, the carnival has gained momentum both in Australia
and overseas.

"Just the involvement of three of Australia's most famous businessmen
made an major impact in the public awareness of Magic Millions in business circles and in mainstream media," says the event's marketing and media manager Annie McDonald, .

"The past six years have been outstanding," she says, adding that buyers and punters come from 32 countries - including New Zealand, Argentina, Belgium, Canada, China, Finland, France, Germany, Hong Kong, Indonesia, Ireland, Italy, Japan, Korea, Macau, Malaysia, Netherlands, New Caledonia, Pakistan, Philippines, Saudi Arabia, Singapore, South Africa, Spain, Switzerland, Taiwan, Thailand, United Arab Emirates, the UK, the US, West Malaysia and Zimbabwe.

"Marketing on an international scale involves extensive and very direct contact with target markets. It involves a lot of international travel and special clients functions, in addition to extensive media campaigns and targeted advertising across all mediums," says Ms McDonald.

"The nature of the event makes it almost impossible to conduct an Economic Impact Study, but the government has quoted around the $50 million mark."

She says buyers spent almost $100 million in January this year - "and that's just the bloodstock they bought!"

"All the hotels report 100 per cent occupancy for a two-week period in early to mid January and the restaurants, retailers and other businesses would experience huge benefits," she says.

In its 21st year last year, the event
offered races with prizemoney of more than $4.93 million. Although the company is best known for its Gold Coast Carnival, Yearling Sale and race day each January, it is only the tip of the iceberg.

"Private sales are conducted every day of the year, whether it is the private sale (not at public auction) of million-dollar horse flesh to eager buyers off-shore or the fulfilling of major export orders to countries requiring bloodstock for racing and/or breeding," says Ms McDonald.

"Magic Millions offices in Adelaide, South Australia, and Perth, Western Australia, also conduct year-round monthly and private sales and Magic Millions has agents based internationally in South Africa, Hong Kong, New Zealand and Korea."

The 2005/2006 sales season was deemed an extraordinary success for Magic Millions, the company sales aggregate topping $213 million in thoroughbred sales for the year.

"This is an increase of 27.8 per cent, up from the previous year's record turnover of $167 million," says McDonald.

The Magic Millions company was also a Tourism Award Finalist in the 2005 Australian Export Awards.

Next year's event promises to be bigger than ever, with sales extended to eight days of auction and the carnival extended to 19 days - from January 1-19.

Gerry Harvey and John Singleton are still involved and attend a lot of sales throughout the year.

Ms McDonald says Magic Millions runs imore than 30 sales a year in Australia
and overseas.


Latest News

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

FOR Kay Koplovitz, the key to being a successful entrepreneur is an agile mind - one that is always learning and q...

VITA GROUP SHARES SURGE UPON RESULTS

VITA Group (ASX: VTG), the Brisbane telco retailer tied up with Telstra (ASX: TLS), saw its share price surge 12 p...

SONAND TURNS THE TIDE AT SURFSTITCH

SURFSTITCH (ASX:SRF) has reduced its losses in the first half of FY17 as new CEO Mike Sonand executed his turnaround ...

EUREKA IMPROVES WHILE MANAGEMENT REMAINS UNIMPRESSED

EUREKA Group has collected the gains on its 'buy and build' strategy to achieve a net profit of $6.29 mill...

Related News

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

FOR Kay Koplovitz, the key to being a successful entrepreneur is an agile mind - one that is always learning and q...

FASHION RETAILER'S TAKEOVER IN DOUBT AS PROFIT CLIMBS

IN the thick of takeover talks, Specialty Fashion Group (ASX: SFH) worked hard to cut costs and see its bottom lin...

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so...

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter