The cost of a Kentucky Derby horse varies widely, ranging from as low as a few thousand dollars to over a million dollars. For example, in the 2025 Kentucky Derby, two horses-Sandman and Baeza-were purchased for $1.2 million each, making them the most expensive in the race

. On the other end of the spectrum, a horse named Chunk of Gold was bought for just $2,500, which is exceptionally cheap for a Derby contender

. Most horses in recent Derbies have been purchased for prices around several hundred thousand dollars. The average auction price for horses in the 2023 Derby was approximately $446,000, and similar figures apply to the 2024 and 2025 races

. Some horses have been bought for less than $100,000, while others have commanded prices in the high six figures or low seven figures. In addition to the purchase price, owners face significant ongoing expenses such as training, healthcare, food, transportation, and entry fees for qualifying races. These maintenance and preparation costs can total around $50,000 per year, with an estimated $175,000 spent on qualifying race entries and transportation over the horse’s career leading up to the Derby

. Entry fees for the Kentucky Derby itself include a nomination fee (ranging from $600 to $200,000 depending on timing), plus a $25,000 entry fee and a $25,000 starting fee

. In summary:

• Purchase price range: $2,500 to $1.2 million+ (typical average around $400,000-$500,000)
• Annual maintenance and training: ~$50,000
• Qualifying races and transportation: ~$175,000 total
• Derby entry fees: up to $200,000 nomination + $50,000 combined entry and starting fees

Thus, owning a Kentucky Derby horse can cost upwards of $800,000 to over $1 million when all factors are considered, though some winners have come from much lower initial investments