Saratoga Auction: The Very Elegant Crap Game

The son of a Hall of Fame horseman (Bill Winfrey, trainer of Native Dancer), TIME Correspondent Carey Winfrey spent his first 15 Augusts in Saratoga Springs, N.Y. Now 30, he returned last week for the annual thoroughbred yearling sales. His report:

IN the early evening's cool, the uninvited maneuvered for a position near the glass, while under bright lights inside, the horsy rich gossiped, complained about the location of their seats, shifted their jewels and studied their catalogues. From high on a rostrum center stage, a young man in a tuxedo surveyed the all-white crowd, then once again rapped his gavel and...

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