Determining the value of a horse

Originally Posted by Travis Stone

I'm rather curious what the mathematics are behind determining the value of a horse. For example, I just read where Curlin is believed to be worth $60-70 million. How is that number reached? Is it based upon probable number of mares to be bred, race record, breeding? A little of everything?

Get two guys with Napoleon Syndrome in the auction house and watch the magic happen.