Story highlights Yearling sells for $3.4 millionColt sired by Dubawi and Fallen for You(CNN) He is only a year old and he's never run a race, but the offspring of a champion racehorse has become the highest-priced yearling of 2016 after being sold for $3.4 million at a Newmarket bloodstock auction. The colt was purchased Tuesday for 2.6m guineas (£2.73m.) He was sold on day one of the Tattersalls October Yearling Sale on the strength of his pedigree out of sire Dubawi, the Irish 2000 Guineas winner and Epson Derby third, and Group Two Coronation Stakes winner Fallen for You. Yesterday we sold the world's highest-priced yearling of 2016: will it be more of the same today? Selling for D2 #OctBk1_2016 starts at 11am pic.twitter.com/h6mBS5ZVkO — Tattersalls (@Tattersalls1766) 5 October 2016Ferguson also bought the second highest-priced lot, another Dubawi colt out of Group Two winner Giants Play, for $1.6m (£1.26m or 1.2m guineas.)

Source: CNN October 05, 2016 12:13 UTC