QUESTION: I love horses. When I was about 8 years old, my dad took me to a horse race. Ever since I’ve gone to horse races whenever I can, especially some of the famous ones like those if the Triple Crown. I especially like going to the Kentucky Derby. Over the years, I’ve collected an assortment of memorabilia from these races—tickets, programs, souvenirs. I’ve never seen anything written up about them, so I’m not sure if any of this stuff is even collectible. Can you tell me what might be collectible? I’d love to get serious and start a real collection.ANSWER: True, there hasn’t been much written about horseracing collectibles. But as with any other sport or event, there’s certainly plenty of memorabilia floating around. While the items you have directly relate to specific races, there are others that relate to specific horses and race tracks. To understand just what treasures are out there, we have to go back to see how this all started.
The history of racing on mounted horses dates back to ancient Greece and Rome. But it was the English in the 12th century that began to selectively breed horses. In 1110, Henry I, King of England, imported an Arabian stallion from Spain, which he mated with English mares to breed horses suitable for warfare. As the breeding continued, the horses evolved into sleek racers.Informal races between purebred mounts became popular, and in 1174, Smithfield Track, the first public racecourse built since Roman times, was constructed in London. The race horses eventually became bred out or “thoroughly bred.” Breeders realized that they couldn’t make them any better or faster through breeding and thus called them thoroughbreds. Thoroughbred racing subsequently became a favorite pastime of English nobility and was soon dubbed “the sport of kings.”
In 1730, a Virginia plantation owner imported a 21-year-old stallion named Bulle Rock. his arrival marked the beginning of many mares and stallions being imported to the colonies for the purpose of racing and breeding. Major horse centers developed in New York, Pennsylvania, Virginia, Maryland, and the Carolinas, and even presidential candidates caught the fever.
America's interest in horse racing continued unabated, and its passion for the pastime was evidenced by more than 750 lithographic prints produced by the firm of Currier & Ives. One of the most famous horses of the mid-19th century was Lexington, bred by Dr. Elisha Warfield, who historians consider the Father of the Kentucky Turf. Currier & Ives published the print “The Celebrated Horse Lexington by "Boston" out of Alice Carneal, circa 1855.”During the Civil War, all horseracing stopped because both armies needed many horses for battle. But in 1867, the first running of the Belmont Stakes occurred in New York, and racing gradually spread south and west. The first Kentucky Derby happened in 1875, and in 1894 the Jockey Club, patterned after the British Jockey breeding of thoroughbred horses while maintaining high ethical standards in horse racing, was formed and incorporated in New York State. Although the Jockey Club brought order to the sport, by the turn of the 20th century a reformist sentiment that disapproved of gambling was gaining momentum. Many states made bookmaking illegal, and by 1908 only 25 American and six Canadian racetracks remained open. By 1913, racing had returned to Belmont Park, Elmont, New York, and although World War I diminished the amount of racing activity, the pastime continued.
From 1919 to 1920, a colt named Man o' War dominated the American horse racing scene, setting several American track records. He won by as much as 100 lengths, and lost only once in 21 starts in 1919 to a horse named Upset. After amassing nearly $250,000 in winnings, Man o' War’s owner retired him to stud in 1920. Racing enthusiasts consider Man o' War to be the greatest race horse that ever lived. Other horses of the 20th century that have great collectiblity include Secretariat, Seabiscuit, Citation, and Kelso.
The book and subsequent film about Seabiscuit catapulted him to the spotlight and his collectibles soared in popularity. Today, the program from his final race at the 1940 Santa Anita Handicap sells for over $1,000.
In fact, racehorses are the primary influencer in the value of a racing program. Due to their age, Man o' War programs seldom turn up, and collectors should expect to pay $3,000 to $12,000 depending on the race and condition of the program. Although Secretariat progras are more common, they stilml. command high prices. His 2-year-old races in 1972 start at $300 and a mint, unused Kentucky Derby program will still fetch $250, even though thousands were printed.Condition, age, rarity, race, and to a much lesser extent, the actual racecourse. Here, Kentucky Derby programs are winning by a wide margin. Pre-1929 Derby programs are extremely rare, and start at over $2,000. Programs from Triple Crown winning years— the year in which one horse wins the Kentucky Derby, the Preakness, and the Belmont Stakes—go for five times what the same program goes for if there’s no winner.
Unfortunately, betting, itself, is a high-stakes sport, resulting in a number of fake collectibles. One item that’s particularly prevalent in the fake market is the lapel pin, first produced in the 1980s. Each of the major races now has one of these little souvenirs. For instance, fake ones exist for the 1985 and 1986 Breeder’s Cup, but the lapel pins weren’t even made for it until 1988.There’s an endless variety of authentic items available for those who love the sport. Posters, prints, weather vanes and sculptures depicting racehorses are always of interest, as are race-specific items, such as Kentucky Derby glasses. There are even elaborate board games, such as the Saratoga Sweepstakes Horse Racing Game with coin dispenser, six numbered horses and riders, and three iron gates and a finish line.
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