1969 KENTUCKY DERBY GOLD CUP SELLS FOR $60,000 AT DOYLE NEW YORK ON JULY 20, 2005

Solid Gold Trophy Won by Racing Legend "Majestic Prince"

Gold Cup Was Purchased by an Anonymous Telephone Bidder

On Wednesday, July 20, 2005, horse racing history was made when Doyle New York, one of the world's foremost auctioneers and appraisers, auctioned the 1969 Kentucky Derby Gold Cup won by the legendary race horse, Majestic Prince. With competition from telephone and absentee bidders, as well as bidders in the salesroom, the trophy was hammered down at $60,000 to an anonymous buyer on the telephone. The auction marked the first time since 1951 that a Kentucky Derby Gold Cup had been offered for sale.

The 1969 Kentucky Derby Gold Cup was the highlight of the July 20 auction, which was held at Doyle New York by order of the Provident Loan Society. Made of solid 14 karat gold, the trophy measured 16 3/4 inches tall and weighed almost 50 ounces. The Provident Loan Society had estimated the trophy at $15,000-20,000.

MAJESTIC PRINCE
Majestic Prince was the first race horse in history poised to remain undefeated and win the Triple Crown – the Kentucky Derby, the Preakness Stakes, and the Belmont Stakes. With an unblemished racing career, Majestic Prince swept the 1969 Kentucky Derby and the Preakness, only to finish a disappointing second in the Belmont. His track record mirrored the euphoric victories and stunning defeat in 2004 of Smarty Jones, who also met his first career loss at Belmont.  

Majestic Prince's owner, Canadian oil millionaire Frank McMahon, paid a record $250,000 for the chestnut horse in 1967. His trainer was Hall of Fame jockey Johnny Longden, who was the most-winning jockey of his day with 6,032 victories in his career. Majestic Prince's jockey was Bill Hartack, another Hall of Famer who would ride five Kentucky Derby winners. 

Majestic Prince never raced again after his defeat at Belmont. He was syndicated in 1970 for $1.6 million, and he died in 1981 at the age of 15.

	The 1969 Kentucky Derby Gold Cup (click for larger view)
	Detail of inscription (click for larger view)

THE KENTUCKY DERBY GOLD CUP
Introduced in 1924, the Georgian Revival design of the trophy has remained virtually unchanged for over 80 years. The horse and jockey finial commemorates the long history of the sport. The horse's tail is cropped in 18th century fashion, and the jockey's long stirrups reflect 19th century examples. Each cup is created almost entirely by hand over a period of three to four months. 

INSCRIPTION
The inscription on the 1969 Kentucky Derby Gold Cup read: NINETY FIFTH / KENTUCKY DERBY / $125,000.00 ADDED / 1 1/4 MILES / CHURCHILL DOWNS / LOUISVILLE MAY 3, 1969 / WON BY / MAJESTIC PRINCE / OWNER / FRANK MCMAHON.

THE PROVIDENT LOAN SOCIETY
Established by a special act of the New York State Legislature in 1894, The Provident Loan Society of New York is a not-for-profit lending organization dedicated to providing low interest funds to individuals upon pledge of personal property. J.P. Morgan, Cornelius Vanderbilt and other business leaders of the era gave their time, talent and money to create the Society as a response to the abuses of some lending institutions during the financial panic of 1893. Today, The Provident Loan Society serves approximately 100,000 people annually and continues the mission of its founders. For further information on the Provident Loan Society, visit ProvidentLoan.com

DOYLE NEW YORK
Doyle New York is one of the world's foremost auctioneers and appraisers of fine art, jewelry, furniture, decorations and other personal property. Located in New York City, Doyle offers approximately forty sales each year that attract a broad base of buyers and consignors from around the world. Doyle has built its professional reputation on achieving outstanding prices at auction and focusing on the individual needs of its clients.

FOR FURTHER INFORMATION, interested bidders may call Doyle New York's Client Services Department at 212-427-2730 or email client.services@DoyleNewYork.com

EXHIBION
Friday, July 15, 10am–5pm
Monday, July 18, 10am–6pm
Tuesday, July 19, 10am–2pm

MEDIA CONTACT
Louis LeB. Webre, Vice President, Marketing and Media, 212-427-4141, ext 232, louis@DoyleNewYork.com
Images and interviews are available upon request.