I’m always amazed to read about the money spent on racehorses and the highs and lows of racing.  There are always great stories in the press about horses like Apache Cat, that was bred by someone who persevered in the game, or more so my favourite horse, Takeover Target, bought for the mythical $1200 + GST.

But what about the other side of the ledger.  There is never any press for the horses that are massive money flops.  My favourite until now had been Watsons Bay, that had started out being spruiked as a 2 year old running on city tracks in black type races, having been bought for $900,000.  It’s now running around on country tracks and has only just passed maiden status.

Well, welcome the new hero - Enchanteress.

Trained by the ubiquitous D Hayes, it ran in race 9 today at Cranbourne  - a class one race worth $6k for the winner.  The cost of the horse - a cool $1.3 million.  It picked up it’s maiden win at Balaklava and was having start 4 today - unplaced.  Bred out of Danehill, it no doubt has some value as a broodmare, but still, a big investment!