Letīs take the plunge. Letīs buy a horse. Itīs about as easy as buying a one-of-a-kind, exotic sports car. Those who go about it in a sensible way can get a thrilling and serviceable vehicle at an appropriate price. Those who close their eyes, grab their noses, and leap might just as well buy lottery tickets.

Like those shiny cars on a sunny lot, horses can have beautiful bodies. In both cases, however, it is what that is under the skin that counts. In buying a horse, there is no consumer guide or so-called "blue book" published that sets price ranges. The market determines the cost. Past "bull markets" have seen untested horses sell as yearlings for 13 million dollars, based on their conformation, the way they are "built," and their bloodlines. Some of these horses proved to be dismal failures on the racetrack. On the other hand, there have been horses acquired, at some point, for less than $5,000 that have provided millions of thrills and hundreds of thousands of dollars in purse money.

Keep a simple rule in mind: There is not a soul in racing who wouldnīt sell their houses and mortgage their children to own a horse able to compete in the "Triple Crown", or The Breedersī Cup, or the Cal Cup. Everyone who has ever sold a horse has a small voice inside that wonders, "Have I sent away the big one?"

But breeding, buying and selling comprise the economic engine that drives thoroughbred racing. Ask major breeders of horses if they willingly give up the best of each lot they breed, and they will tell you - in deadly earnest, "Thatīs what we are in business to do." However, in the shank of the evening, as the last bourbon is being sipped, you will likely hear from all of them stories of the thrills they have had in winning races, and even the excitement of coming heart-stoppingly close.

There are broad basic choices to consider at the outset of a buying venture. Each contains risk and can produce rich rewards. Each demands that you bet both your wallet and your heart on the outcome. The three most common ways to acquire a thoroughbred are:

1. by claiming a pre-selected horse at the races.
2. by bidding at an auction.
3. by private purchase from a breeder or owner.