Former mining mogul Nathan Tinkler reportedly owes Gerry Harvey around $40 million, but his debts could be cleared when the Patinack Farm dispersal sale finishes up on Wednesday.
On its first day, the auction, which was organised by Harvey to recoup monies owed to him, raised more than $21 million, the AFR reported.
“I’m very happy and Mr Tinkler thinks he’s been robbed,” Harvey joked on Sunday.
Harvey took control of the Patinack assets after Tinkler admitted he couldn’t repay the loan. While the exact amount owed to Harvey is unknown, the AFR reports it is believed to be about $40 million.
Attending the sale was Harvey and John Singleton as well as representatives from renowned trainers Gai Waterhouse and Anthony Cummings.
The most expensive sale was for lot 455, Bel Mer, which went for $850,000. Currently in foal, Bel Mer’s father is Bel Espirit, the same as racing champion Black Caviar. It was snapped up by Goldfin Farms, a South Australian breeder owned by multi-millionaire Pan Sutong.
After the horse sale is wound up on Wednesday, Patinack’s properties in NSW and Queensland will be sold.
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