They had a maiden race at Belmont yesterday with unusual conditions. It was limited to horses that sold for less than $45,000 at there last sale. I saw this condition for the first time last year. This year Eclipse folks mentioned these races when they bought a Mshawish colt for less than $40,000 at a two year old sale.
What was stunning is that the race conditions also allowed horses that had been RNAed for $45,000 or less. I guess racing secretaries want full fields, but this seems to promote bad behavior. Maybe I am just a cynical bastard, but why encourage breeders/consigners to set artificial reserves.
The fact that you can only buy a horse if you “overpay” is by far the most discouraging part of the entire sale process. I have already seen too many examples of decent horses not meeting reserves or being withdrawn, and then being raced by their breeders.
Buying A Race Horse 