WHAT have Foxes Tales and Create Belief got in common? Both are Group 3 winners in the past week, having graduated from landing handicaps at this year’s Royal Ascot meeting. Both are three-year-olds, bred in Ireland.

Where they differ widely is in their yearling value. Foxes Tales sold in Book 1 of the Tattersalls October Yearling Sale for 400,000gns to SackvilleDonald, acting for King Power Racing. Create Belief sold earlier that same year at the Tattersalls Ireland September Sale for just €12,000. What was the cause of the huge disparity in their sale prices?