Magic Millions

The unlikely story of an Australian auction house In 1980, the Gold Coast was the most unlikely of places to sell racehorses. Or was it? When Queensland cattleman Carl Waugh built a thoroughbred auction house just a stone's throw from the meter maids, spivs and schoolies of Surfers Paradise, only he had an inkling of what it might become. By 1986, he had reinvented the business of selling thoroughbreds with the introduction of the 'Magic Million', a rich, world-first incentive sale that was copied around the globe and is today worth hundreds of millions of dollars. How did a middle-aged bushie pull off one of the greatest revolutions in the history of modern horsetrading, and how, through the 1990s, did it all fall apart? With a gallery of colourful characters and never-before-documented events, award-winning author Jessica Owers has pieced together the survival story of the Gold Coast company now known as Magic Millions, from its explosive genesis to its receivership, from its might in the ownership of Gerry Harvey, Katie Page and John Singleton to the day it sold Winx as a $230,000 baby. Magic Millions is a gripping industry story, a riveting racing history and an untold Queensland fairytale. It's the story of a company that almost didn't make it but that became a powerhouse in the sensational, high-stakes world of international bloodstock.