The other place where you can vicariously experience the thrill of ownership is the yearling sales. These are held by the auction company Fasig-Tipton near the beginning of the meet, at the Humphrey S. Finney Pavilion, a large round building on East Avenue, just half a block north of the main racetrack. Prices are high for the Select Sale, and that generates a big buzz in the crowd. The dream is to buy a Kentucky Derby winner – many have been purchased here, from historical greats like Man O’War to recent winners Go For Gin and Monarchos. The horses all look like champions as they come into the ring. The young fillies and colts have to pass rigorous conformation and pedigree standards to be in this sale, and they have been groomed and exercised to look their best. Look closely at the horses and you’ll see the attention to detail – even their tails have been braided and then brushed out to make them full and fluffy. The horses arrive a few days before the sale so buyers who register with the sales office can view them.

On the night of the Select Yearlings Auction, limousines and sedans roll up to the doors of the Humphrey S. Finney Pavilion, where seating inside is by invitation only. If you aren’t a member of this privileged group, you can peer through the large windows, watch from the balcony or go around back to the walking ring, where a “bid spotter” stands on a podium, and the proceedings can be followed on television monitors. Watch the young horses as they nervously circle, with a numbered sticker on each hip. This is usually their first exposure to crowds, and the handlers have them under a tight hold. The bidders can be tougher to spot – don’t worry about bidding by mistake – each buyer who is interested in a particular horse has made a bid spotter aware of their interest in particular hip numbers and arranged a signal. Sometimes their movements are so discreet even the bid spotter has to double-check.

If you really want to get up close, attend the Select Yearlings Auction, for horses bred in New York State. The pedigrees might be less stellar, but New York breds qualify for special races with high purses, so there’s still a very competitive market and a big crowd. The bid spotters exchange their tuxes for navy blue jackets, and its easier to borrow a seat in the pavilion if you want to get a close look at the action. There is a free seminar the day before the auction if you are interested in becoming an owner. The first advice given is to work with a trainer or an agent who knows the routine! For either auction, you can pick up a catalog in the sales office back in the barn area. If you want to look like you know what you are doing, jot down notes and sales prices in your catalog. Pick out a few horses you like and see how much they sell for. Who knows, one of them might be a future Derby winner!