Well, okay, let me rephrase that. They may not be your opinion of the best horses, but I'd suggest they'd be pretty close. Basically, they will be the horses which I have put the highest reserve price on.

Here's how it will work. I will put a 'reserve' price next to each horse. During the auction, that price is the minimum amount of money that you must bid for that horse. Let's say the reserve price is $300,000. If you bid $300,000 for that horse and then nobody else posts another bid, the horse is yours. BUT if someone does subsequently make a higher bid, then you'd have to go higher again to outbid them and buy the horse. The bidding can continue on like that right up until the deadline on Sunday night. By the way, the auction deadlines for each of the highest priced horses will actually be staggered slightly, so that people who miss out on one horse can then make a bid on the next one.

After the auction of the top priced horses finishes on the Sunday, the rest of the horses are chosen beginning on Monday night on a straight "first in first served" basis. People may even decide to completely ignore the auctions. They may prefer to buy a large number of cheaper horses, rather than a small number of expensive ones.