Kentucky’s Stonestreet Farm stepped up its investment in the Australian industry at the Magic Millions National Broodmare Sale at the Gold Coast on Wednesday by purchasing the Group One winner Bounding for $1.9 million.

John Moynihan made the successful bid on behalf of Stonestreet Farm owner Barbara Jackson.

Bounding, a rising six-year-old by Lonhro, won eight races including the G1 Railway Stakes at Ellerslie and was named Champion Sprinter in New Zealand in 2013/14 after being the top filly on the 2013/14 NZ 3YO Free Handicap up to 1600m.

Stonestreet Farm has been purchasing bloodstock in Australia since 2014 to race and breed and the purchase of Bounding is a continuation of the Kentucky stud’s foray into the southern hemisphere market.

Bounding improved on that record with eight wins including the Group 1 ARC Railway Stakes at Ellerslie. She was the Champion Sprinter in New Zealand in 2013/14 and the Top Filly on the 2013/14 New Zealand 3YO Free Handicap (1200m-1600m).

Moynihan said that he did not have a purchase in mind when he arrived for the sale until he inspected Bounding.

“We did not come down here specifically looking to buy anything, but when I saw that mare in the catalogue I had to buy her,” he said.

“I knew she was going to be expensive, you never know that they are going to go to that number, but I think she is an absolute gorgeous mare with a gorgeous pedigree.

“Moving forward if she produced the right kind of colt that had real ability it could be a stallion worth a lot of money.

“If she produces yearlings that look like herself they are going to be extremely well received in the market place for years to come so I think it is a very good long term investment.

“I think your racing is second to none in the world and we are very happy to be part of it.”

Bounding was presented at the sale on behalf of her owners by Willow Park Stud at Scone.

She attracted an opening bid of $1 million and from that point the bids went in $100,000 increments to $1.4 million and then $50,000 through to the final $1.9 million buying price.

Michael Wallace for China Horse Club was the underbidder.

“You win some, you lose some,” Wallace said. “I expected to have to go into that range and we were competing against US dollars.

“She is a lovely mare and it is what the market desires, but that is the way it goes.”

Bounding’s dam, the Exceed And Excel mare Believe’n’succeed, won the G3 Blue Diamond Prelude and was fourth in the G1 Blue Diamond Stakes.

Her third dam November Snow, by Storm Cat, was the Joint Top Filly of the 1992 US 3YO Free Handicap and is the dam of the unraced Indian Snow, the dam of G1 winner Morning Line (Tiznow).

Wallace had earlier paid $825,000 for the Group One winning mare Precious Gem, a first acceptor for the $1.5 million Stradbroke Handicap at Eagle Farm on Saturday week, on behalf of the China Horse Club.

Wallace confirmed that Precious Gem will progress to a start in the Stradbroke and go to stud later in the year to be served by a Chine Horse Club owned sire.

The Henry Dwyer trained Precious Gem, by Econsul out of the Peintre Celebre mare Gem Of Gems, was a last start winner of the G1 Robert Sangster Stakes over 1200m at Morphettville on May 7, taking her career record to eight wins and 10 placings from 35 starts.

Bloodstock agent Bruce Perry secured the 2013 Magic Millions 2YO Classic winner Real Surreal for $800,000 on behalf of Cressfield Stud’s Bruce Neill.

“She was a wonderful race mare and a great type too so you would like to think that she will replicate that as a broodmare. She is going to be real jewel,” said Perry.

A bid of $720,000 from John Kelly of Newhaven Park Stud secured another G1 winning mare May’s Dream.

May’s Dream, a six-year-old mare by New Approach, is out of the G1 winning Archway mare She’s Archie.

She’s Archie won the G1 South Australian Oaks and her daughter May’s Dream won the G1 SAJC Australasian Oaks and was second in the G1 MRC Thousand Guineas.