Walt Robertson, who auctioned off the horse, already named Daddy Knows Best, says the horse’s sire that no one paid attention to became the star.
"He was by a horse called Scat Daddy and Scat Daddy was a young, unproven horse," Robertson said. "Today everybody’s looking at that horse a little differently because today he happens to have two horses in the Kentucky Derby."
That other Derby horse is Daddy Long Legs, which sold for $100,000.
The most expensive horse in the Derby is the favorite Union Rags, which Phyllis Wyeth sold for $145,000. After a dream about the horse gave her seller's remorse, she bought Union Rags back for $390,000.
Zollars bet has paid off big to the tune of $633,600 in winnings. (On Saturday, he is starting one of the cheapest horses in the field, with a chance to win more than $1 million in the Run For the Roses.
"It’s hard to find a gem, but there are lot of gems at those lower levels and it’s the same thing as in any sport," Zollars said. "There are a lot of great athletes that their parents weren’t that athletic. On the other hand, there are some great athletes that are the sons of some very athletic parents."
Take, for example, a horse named Mr. Besilu, fathered by the top sire at the time, A.P. Indy. The horse was purchased for $4.2 million, the highest price paid for a thoroughbred in 2010. The horse has yet to race.
A horse named Mr. Besilu sold in the same auction as Daddy Nose Best for $4.2 million, it was the highest price paid for a thoroughbred in 2010. The horse has yet to race.
Questions? Comments? SportsBiz@cnbc.com