'Six figures-worth of talent for £1'

There’s much to be aware of when offered a horse at a knock-down price, but in the right hands sometimes the gamble pays off. Martha Terry meets some who have found their diamond in the rough

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THERE are very few things you can buy for £1 nowadays – outside Poundland. Not even a first-class stamp, a cup of tea or a plastic pony. However, some lucky riders have managed to acquire a real, live horse for just a quid. And not just any horse – top eventing thoroughbred Phelps was bought as a four-year-old “for a dollar”. Six years on, he finished fifth at the 2023 Maryland CCI5*, winning $20,000 (£15,760). Perhaps the old adage of not looking a gift horse in the mouth is a proverb to be ignored.

Phelps’ rider Mia Farley is based with the O’Connors in Virginia. Event director Joanie Morris sent Phelps – who had been in training but was unraced – to David O’Connor as a sales horse. David paid Joanie a dollar for him, with the plan for her to have a cut when he was sold. Except he never was.

“He was always for sale, but he managed to stick around; he’s the barn mascot now,” says Mia. “He has an exceptional brain; he’s cool-minded and keeps jumping higher every time we move up the levels. He’s one of the few horses I never feel nervous on because he knows exactly where his feet are and I fully trust he’ll take care of me.”