Why Mendelssohn's the most expensive Derby 2018 contender

With all eyes turned to the 2018 Kentucky Derby through the first Saturday in May, do you ever wonder just how much money in horse flesh we're witnessing?

From modest stories such as beloved homebred California Chrome, to multimillion dollar purchases like Fusaichi Pegasus, Kentucky Derby starters come from a wide array of places and prices. This year's field is no exception.

With five homebreds among the contenders, that means 15 projected starters received their new ownership through the slam of a gavel at auction prices ranging from $20,000 to $3 million, the price it took for Coolmore connections to acquire Mendelssohn.

The European-based Aiden O'Brien trainee, who last out captured the UAE Derby in record fashion, is far and away the most expensive horse in this year's Kentucky Derby field. The son of late sire Scat Daddy is a half brother to leading sire Into Mischief and four-time Eclipse champion Beholder.

Mendelssohn's price tag no longer seems like a surprise, considering that last November, he also won an especially strong edition of the Breeders' Cup Juvenile Turf. But for breeder Fred Mitchell of Kentucky's Clarkland Farm, fireworks in the sales ring were a bit more than he was anticipating. 

"No [we weren't expecting him to go for as much as he did]," said Mitchell, "We were thinking maybe $2 million after seeing how many people came to look at him." 

Many racing fans may not be familiar with the name Clarkland Farm when it comes to Kentucky breeders. Situated on 400 acres of Fayette County, Clarkland has bred, raised and/or sold 15 stakes winners, including 1990 and 1991 champion sprinter Housebuster. 

But the 2006 Keeneland November Breeding Stock Sale is when Clarkland really struck gold, as $100,000 later, the Mitchells walked away with a mare by the name of Leslie's Lady. 

"That was all my wife's fault," Fred Mitchell said with a laugh, "My wife has been a pedigree fanatic ever since she was a little girl. We were looking for one or two mares and she loved that (Leslie's Lady) was a 2-year-old stakes winner and had a beautiful pedigree and conformation."

One year after Leslie's Lady became a resident of Clarkland, her son, Into Mischief won the Grade 1 CashCall Futurity. Two and a half years after that, she delivered a bay daughter by Henny Hughes. Beholder would go on to be an 11-time Grade 1 winner and divisional champion four of her five years on the racetrack. 

Beholder was in the midst of her 5-year-old campaign when Mendelssohn was born.  

"We insured him for a lot because of his pedigree," Mitchell said. "He really didn't start maturing until August, like Beholder, because they were both late foals."

Both Beholder and Mendelssohn were born in May, when the Thoroughbred foaling season is typically winding down. Interestingly, Mendelssohn will technically be the youngest horse in the Derby field, with his official third birthday not occurring until May 17.

By the time Mendelssohn was a yearling entered in the Keeneland September Yearling Sale, his sire, Scat Daddy, had died suddenly at the young age of 11, and Beholder had furthered her assault on the racing world. The highly anticipated colt stepped in the ring as Hip 454, and it didn't take long for the bids to flow. 

"It started at $25,000. I think the auctioneer wanted to play with them," Mitchell recalled. "There were multiple bidders up to $2 million, but then it was just left to Spendthrift (owner of Into Mischief and Beholder) and (Coolmore's) Magnier." Four minutes of bidding later, Magnier ended up getting the final call. The sales pavilion broke into applause as the gavel fell and Mendelssohn was lead out of the ring. "I've never seen a yearling in the ring for as long as him," Mitchell said. "He took it all in so well." A million-dollar horse hasn't won the Kentucky Derby since Fusaichi Pegasus went for $4 million and took home the roses in 2000. Between Good Magic, Instilled Regard, and Mendelssohn, could this year be the year the streak ends? That's Mitchell's hope. "This will be my first Kentucky Derby. I think I'm gonna go," he said, "and you know, he has his European ties, but he's still a Kentucky-bred horse."