The colt is the first offspring of the late Henry Cecil’s champion to come under the hammer and Crystal Gaze is expecting a second foal by Frankel next year.
Crystal Gaze has already produced the classy sprinter Spirit Quartz, as well as Epsom Dash winner Caspian Prince.
The youngster, who was Lot 65 together with his mother, was consigned by Tweenhills Stud.
Magnier, the son of Coolmore supremo John Magnier, said: “He has been bought for a racing partnership, and there are four different people in it.
“It’s a nice, strong colt and the lads really liked it.”
Asked where the star attraction would be trained, he said: “It’s too early to say, there’s plenty of time to think about it.”
Tweenhills Stud is owned and managed by David Redvers, who said: “It seems like an awful lot of money to pay for a horse and it’s a bit sad to see the whole package go, as the mare is a sweetheart.”
The sale was held in association with Sheikh Fahad’s Qipco Holding.
Redvers, who manages Sheikh Fahad’s Qatar Racing operation, added: “It was fantastic to bring them to London and Sheikh Fahad was very keen to support the sale.”
The sale took place outside and attracted many well-known names from the racing community.
Among those in attendance were trainers John Gosden, Luca Cumani, Roger Charlton and Ed Dunlop and a number of significant owners.