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Over the last couple of decades in the thoroughbred industry, the public auction arena has steadily overtaken tradition-rich breeding operations as the premier choice for owners seeking horse racing's next superstar.
But thanks to a recent trend on racing's grandest stage, homebred horses might find themselves in the midst of a resurgence.
Money can buy a lot of things but, in the last several years, a Kentucky Derby winner hasn't been one of them. Since 2004, homebred horses have dominated the 11/4-mile test, with Smarty Jones, Giacomo, Barbaro, and Street Sense all sweeping home to claim the roses.
Before the current run of four straight winners, no homebred had taken the Derby since Grindstone in 1996. Their current reign stands a good chance of continuing this year as six Derby contenders -- Adriano, Colonel John, Cowboy Cal, Pyro, Smooth Air and Tale of Ekati -- are cut from the owner-breeder cloth.
While few are suggesting the commercial marketplace will become any less popular, some say the current streak might make some in the breed-to-sell business readjust their mentality.
"As far as the Derby goes, it's probably just a short-term trend ... but I do think there are some dynamics that have caused people to at least think more about (breeding to race)," said Doug Cauthen, president of WinStar Farm which owns and bred top Derby contender Colonel John. "I don't think four and five years ago people were thinking about it, but I do think it's a good thing.
"The industry might be more healthy if it does become more of a trend."
The thought that homebred winners would become more norm than novelty is one many would have scoffed at in the not-so-distant past.
During much of the Derby's existence, most of the best stock came from such great breeders as H.P. Whitney, John Madden and Calumet Farm -- which owned and bred a record eight Derby winners.
The death of the leaders of those operations, combined with record auction prices in the early 1980s, however, pushed the industry to seek more instant gratification.
"The landscape really started to change when we saw the last of the old die out in the major families that really ran racing and controlled racing and contributed to racing to such an extent that the racetracks and the entire industry had to change," said John Veitch, former trainer for Calumet.
"When you breed your own, you're looking at at least a three-four year investment with a great deal of patience and money. And people don't have that anymore."
Ironically, the rise of the commercial aspect of the thoroughbred industry might ultimately contribute to a greater influx of homebreds.
Stud farms -- in particular Sheikh Mohammed's Darley -- have shown they will pay top dollar for leading stallion prospects. Thus, if a breeder holds on to a potentially talented runner rather than putting it through the ring, the long-term rewards could be enormous.
"There will be more people who breed to race because the money appears to be in the stallions, so people are more prepared to form syndicates," said Mill Ridge Farm managing partner Headley Bell, who was involved in the matings of both Barbaro and Street Sense. "I wouldn't say the trend is definitely leaning toward homebreds, I'd say it's still a blend of the two. There is no sure method to accomplish it or else it would have been done before now."
