I was just looking at the 'Sale Mail' for today's Swan Hill Cup meeting on

https://www.breednet.com.au/

a wonderful website (Sale Mail tab is on top menu bar)

Look at these failures going around today at Swan Hill

Bought for $70,000 in 2020 Sold for $1,000 in 2022

$675,000 - $50,000

$150,000 - $3,500

$210,000 - $9,000

$200,000 - $3,500

We really only know the price of about half the horses and less than half of them are 'moved on' but even from this small sample you can see that all purchases are gambles often huge ones