The colt, which shares a mother (Helsinge) with the winner of 24 consecutive races, was snapped up by Melbourne bloodstock company BC3 Thoroughbreds.

The same company owns the yet to be raced Belle Couture, the colt’s older sister, which they bought for $2.6 million last year.

The bidding was furious for the horse BC3’s yearling advisor said was the best he’d seen – starting at $2m, it went straight to $2.5m, then $3m before leaping to $4m.

It then went up in meager $100,000 increments until the most important one for $5m.

The previous Australian record sale is $3m.

A trainer is yet to be decided for the horse, but Black Caviar’s mentor Peter Moody is in the frame.

The yearling has a good time ahead of him as he heads now to BC3’s agistment property in Torquay.

A high profile lot at the auction, with flash bulbs a frequent companion, but BC3’s Simon Marshall said he’ll first learn to be a horse again.

“He won’t have to worry about having his picture taken. He can have some carrots and roll in the mud and become a horse again,” Marshall said.

Black Caviar was bought for $210,000 and has so far won $7.5m in prize money, has never been defeated and is rightly regarded among the best sprinters of all time.

Image via AAP