Newgate Farm have been enjoying a strong sale at Magic Millions and achieved a sensational result on Wednesday when exciting young sire Capitalist set a new benchmark for himself with a stunning colt from Golconda selling for $975,000.

Consigned by Newgate for a breeding partnership that includes China Horse Club, SF Bloodstock and Blake Sandblom, the handsome chestnut was bought by James Harron, who also bought his sire from this sale back in 2015.

He is a full brother to this season’s Group III placed two year-old Marine One, who was sold by Newgate at this sale last year for $500,000, and is the third foal of stakes-winning Snitzel mare Golconda, who was also third in the Group I VRC Oaks.

On the back of his promising racetrack results this season, Capitalist is enjoying great popularity at this sale with 14 yearlings averaging $292,143.

Other good sales for him on Wednesday were a colt from Eiffel Tower that made $600,000 for Vinery when bought by John Foote Bloodstock and the half-sister to Hong Kong superstar Golden Sixty that made $425,000 for Element Hill when bought by All Winners Thoroughbreds.