Bargain Shopping: A Big Auction Price is Rarely Predictive of Kentucky Derby Success

Racing
Mine That Bird, $9,500, 2007 Fasig-Tipton Kentucky October yearling, Kentucky Derby, Churchill Downs, Triple Crown, America's Best Racing, horse racing, ABR
Mine That Bird was purchased for a modest $9,500 at the 2007 Fasig-Tipton Kentucky October yearling sale and went on the Kentucky Derby glory in 2009. (Eclipse Sportswire)

Horse racing is often referred to as “The Sport of Kings,” creating the impression that only those with incredible wealth can participate … and it is, no doubt, very expensive to own a horse much less a racehorse. But the reality is you don’t need to be a monarch or a Sheikh or a titan of industry to own a Kentucky Derby starter, or winner for that matter.

While it helps to have oodles of cash to spread around at Thoroughbred auctions to land a quality racehorse, Derby history tells us that the pricier prospects are not always better. In fact, big-ticket auction racehorses have not typically navigated their way to the winner’s circle on the first Saturday in May at Churchill Downs.

According to the Kentucky Derby media guide, 33 Kentucky Derby winners since 1960 sold at auction (four of them sold twice, so 37 auction results total) before winning the race for an average price of $237,754. That number is a bit inflated by one horse, 2000 Kentucky Derby winner Fusaichi Pegasus, who sold for $4 million. The $40,000 median is actually far more representative as 22 times the Derby winner changed hands at auction for $70,000 or less, including 11 different Kentucky Derby winners bought for 20 grand or less.

See the auction results below from 1971 Derby winner Canonero II ($1,200) to “FuPeg” at a cool $4 million, featuring some monumental bargains … we’re looking at you Seattle Slew ($17,500), Sunday Silence ($32,000), and Spectacular Bid ($37,000).

Year

Derby Winner

Sale Price

2023

Mage

$290,000

2020

Authentic

$350,000

2018

Justify

$500,000

2017

Always Dreaming

$350,000

2016

Nyquist

$400,000

2015

American Pharoah

$300,000

2012

I’ll Have Another

$35,000

2012

I’ll Have Another

$11,000

2011

Animal Kingdom

$100,000

2009

Mine That Bird

$9,500

2008

Big Brown

$190,000

2008

Big Brown

$60,000

2003

Funny Cide

$22,000

2002

War Emblem

$20,000

2001

Monarchos

$170,000

2000

Fusaichi Pegasus

$4,000,000

1998

Real Quiet

$17,000

1997

Silver Charm

$100,000

1997

Silver Charm

$16,500

1995

Thunder Gulch

$40,000

1994

Go for Gin

$150,000

1994

Go for Gin

$32,000

1992

Lil E. Tee

$25,000

1990

Unbridled

$70,000

1989

Sunday Silence

$32,000

1988

Winning Colors

$575,000

1987

Alysheba

$500,000

1980

Genuine Risk

$32,000

1979

Spectacular Bid

$37,000

1977

Seattle Slew

$17,500

1976

Bold Forbes

$15,200

1975

Foolish Pleasure

$20,000

1971

Canonero II

$1,200

1970

Dust Commander

$6,500

1969

Majestic Prince

$250,000

1966

Kauai King

$42,000

1960

Venetian Way

$10,500

Likewise, the racehorses who sold for a noteworthy sum at auction and excel on the racetrack to the point of making it into the starting gate on Derby day have not historically performed well in the first jewel of the Triple Crown.

Of the 30 all-time most expensive 3-year-olds to start in the Kentucky Derby (see table below), only Fusaichi Pegasus won. Lion Heart (a $1.4 million purchase) ran second to Smarty Jones in 2004 and Good Magic ($1 million) finished second to Triple Crown winner Justify in 2018. Nineteen of the 30 listed below finished 10th or worse in their respective Kentucky Derby.

Year

Horse

Auction Price

Kentucky Derby

Finish

2000

Fusaichi Pegasus

$4,000,000

1

2009

Dunkirk

$3,700,000

11

2018

Mendelssohn

$3,000,000

20

1989

Houston

$2,900,000

8

2009

Desert Party

$2,100,000

14

2001

Talk Is Money

$1,800,000

17

2022

Taiba

$1,700,000

12

2015

Carpe Diem

$1,600,000

10

2007

Cowtown Cat

$1,500,000

20

1996

Unbridled’s Song

$1,400,000

5

2000

Exchange Rate

$1,400,000

12

2004

Lion Heart

$1,400,000

2

2006

A.P. Warrior

$1,300,000

18

2023

Tapit Trice

$1,300,000

7

2001

Millennium Wind

$1,200,000

11

2017

Tapwrit

$1,200,000

6

2005

Noble Causeway

$1,150,000

14

2007

Any Given Saturday

$1,100,000

8

2000

High Yield

$1,050,000

15

2018

Instilled Regard

$1,050,000

4

1983

Chumming

$1,000,000

12

2001

Songandaprayer

$1,000,000

13

2018

Good Magic

$1,000,000

2

2020

Money Moves

$975,000

13

2020

Honor A. P.

$850,000

4

1987

Capote

$800,000

DNF

2023

Kingsbarns

$800,000

14

2023

Reincarnate

$775,000

13

2023

Verifying

$775,000

16

2006

Point Determined

$750,000

9

It may be called “The Sport of Kings” but it’s often the pauper who becomes the prince as the saying goes under the Twin Spires on the first Saturday in May.

Seattle Slew, 1977 Kentucky Derby, Triple Crown, America's Best Racing, horse racing, ABR
Seattle Slew, a $17,500 auction purchase, winning the 1977 Kentucky Derby. (BloodHorse Library)

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