Magic MillionsThe 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