In an industry that commonly sees purses for individual races reach the six-figure range, a $10,000 stakes event isn’t the biggest of deals. Although, things do get interesting when one of the starters in the race was purchased for one dollar, literally.

As an article by stuff.co.nz explains, the $10,000 ‘El Cheapo Cars’ Wellington Trotting Cup will take place on Friday (January 27) at Otaki Raceway in New Zealand. One of the participants in the stakes, named ‘Eldolar’ – which is, ironically, Spanish for one dollar – changed hands for a buck earlier in its career.

Eldolar’s breeder, Colin Turner, has said that he has no regrets over the transaction, even though the Standardbred has surprised him.

"I sat down with my mate, Craig Good, and we had a coffee in Waiuku. I said to him ‘I don't want the horse, but I will sell him to you for a dollar,’” Turner, 61, explained.

"I thought he was a bit small and to be honest I didn't think he would make it, but he's a lot bigger now.”

Eldolar has won three of his last five races and is considered to be one of the favourites to win the Friday tilt, which will be raced on the grass. He will start from a 10-metre handicap for 20-year-old driver Mark Johnson and trainer Arna Donnelly.

(With files from stuff.co.nz)