Little Hung, an emerging force in the thoroughbred world, is starting to form a serious affiliation with quality Snitzel colts at the Melbourne Premier Yearling Sale.

Last year the Hong Kong-based Mr Hung bought the Premier sale-topper, a Snitzel x Beauty World colt he paid $700,000 for which now races a Ducimus – undefeated after two starts and already a Stakes winner.

Snitzel colt from Mightier

Today, Day 1 of the 2017 Premier Sale, Mr Hung again flexed his muscle, purchasing the day's top-priced yearling, a Snitzel x Mightier colt from the Millford Thoroughbreds draft (as agent for Cressfield Stud), for $620,000.

Mr Hung has become a big investor in the industry, this year already having bought up big in Japan, Ireland and now adding to his Australian artillery.

The $620,000 buy was the fourth-highest priced colt ever sold at the Premier Yearling Sale, following a bidding duel with the Hong Kong Jockey Club, who were underbidders.

"We had our heart set on him after all the inspections we did,'' Mr Hung said.

"He's a strapping colt, big boned, great girth and hind quarter. He's a sensible colt, he's got a brain on him and you really need that.

"I knew he'd be popular, and when two people want the same thing at an auction, you need to be strong and we were.''

For vendors of the top lot, Millford Thoroughbreds, it was a high point on what was overall "a super day, a super result all round for us''.

Millford ended the day with a 100% clearance rate from three colts to enter the ring, with a sale-leading average of $310,000.

"All three colts, we couldn't and didn't expect those sorts of figures, nothing like them at all,'' Millford's co-principal Jarrod Byers said.

"It's a huge result. The hard work starts at home with prepping these horses for sale so to the entire team back at the farm, a huge congratulations.

"They all deserve this type of result.''

Millford were one of 36 vendors to enjoy a perfect clearance rate on Day 1, with Maluka Thoroughbreds selling all seven they entered (the highest of the day) while Woodside Park sold five from five and ended the day as the leading vendor by aggregate at $975,000.

Day 1 ended with a strong clearance rate of 81%, an average of $124,414 and a gross of $13,685,500.

The Blue Riband session was again a success, averaging $134,692 with a clearance rate of 84%.

The leading buyer by Lots purchased and aggregate was McEvoy Mitchell Racing with five yearlings for $710,000.

Inglis' Victorian Bloodstock Manager Simon Vivian was pleased with how Day 1 fared.

"It's a very satisfying start and knowing the quality that's still to come, we can go into the next few days with an absolute degree of confidence,'' Vivian said.

"The top part of the market is very strong, the median is quite amazing when compared to last year and while the clearance rate started a little soft early, the buyers found their feet as the day progressed which was great to see.''