Word: auction
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Dates: during 1970-1979
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...surface, such a venture seems nothing short of fiscal madness. For every dream horse like Seattle Slew (auction price: $17,500; payoff on the Triple Crown races alone: $462,380), there are thousands of also-rans and tens of thousands of never-rans. As a rule, only 5% of the more than 30,000 thoroughbreds foaled each year will ever earn their keep on a race track. Fully 65%, in fact, are high-priced, slow-footed dreams deferred that will retire without a single trip to the post. But if the pie is quite high...
...railroad money and new fast-food money, Saudi sheiks and Japanese transistor magnates, Texas oilmen and British noblemen, not to mention the usual clutch of Whitneys and Vanderbilts. Around the barns of the great breeding farms-Spendthrift, Claiborne and the like-and under the canopies covering the caviar at auction-weekend parties, the talk was peppered with the names of sires: What A Pleasure, Round Table, Sir Ivor, Northern Dancer. A casual comment about one filly brought the quick question: "How was she bred, ma'am?" The equally quick answer: "By Secretariat out of Crimson Saint by Crimson Satan...
...four-year-old is a bold one. The Taylors and Hills have turned down stud-syndication offers ranging as high as $14 million; the premiums on Slew's $3.5 million insurance policy run a huge $2,000 per week. Those are, heady figures for a colt bought at auction for a bargain-basement $17,500. But Slew's owners want to return some of their good fortune to the sport. For racing fans, a four-year-old campaign by a Triple Crown Champion would be rich reward indeed...
...cluttered gallery on Rue Laffitte in Paris, stacked floor to ceiling with rolled canvases and folios of prints, Paul Cézanne, Pablo Picasso and Henri Matisse had their first one-man shows. (Cézanne was 53 when Vollard "discovered" him in 1892 by buying five oils at auction for a paltry 900-odd francs.) Buying cheap and selling dear, he got in on the ground floor of Gauguin, Van Gogh, Bonnard, Vuillard, Renoir and Chagall as well. He then ploughed his fortune back into the publication of artists' prints and deluxe editions of texts classical and modern...
Osgood added that this year's auction raised a record-breaking total of $783,000 for the station's operating fund...