Tattersalls, the main auctioneer of racehorses in the United Kingdom and Ireland, continues this tradition of conducting auctions in guineas.
He was sold by his breeders at the Tattersalls October Yearling Sale to Gordon Smyth who named him "Al Moughazel" and sent him to Newmarket for training under Pip Payne.
The betting model he employed for delivering transparent odds to his clients was adopted from George Adams's successful Tattersalls totalisator venture.
Two "Subscription rooms" were reserved for members of the Jockey Club, and they became the rendezvous for sporting and betting men.
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The previous sale record price was set at the 2000 Keeneland yearling sale for Moon's Whisper at $4.4 million.
Portraits of Sir Edward Wilmot, bart., M.D., and Richard Tattersall, the horse dealer who established 'Tattersall's, were exhibited in the National Portrait Exhibition of 1867.
Following the invasion of France by Germany during the Franco-Prussian War, Count Frederic de Lagrange shipped his horses out of the country to the safety of England where they were sold at a Tattersalls auction.
In the case of the Sydney to Hobart Yacht Race, the winner of line honours is presented the J.H. Illingworth Trophy, whereas corrected time winners win the George Adams Tattersalls Cup.