Untested colt sells for $16 million

MIAMI, March 2 (UPI) -- A nameless, unraced Florida-born colt has brought a record $16 million in a hectic auction at Calder Race Course in Miami Gardens.

The previous record of $13.1 million was set in 1985 for Seattle Dancer, whose lineage included Triple Crown winner Seattle Slew, the Miami Herald reported.

The 2-year-old, which has never raced but boasts two Derby winners in its bloodline, scored the fastest workout time among the 154 racehorses sold, wowing prospective buyers by running an eighth of a mile in less than 10 seconds.

Irish racing magnate Demi O'Byrne edged out a representative of His Highness Sheikh Mohammed bin Rashid Al Maktoum of Dubai by $500,000.

The record-setting, reddish-brown horse, with a broad white blaze down his face, could begin running races in the next few months and be in the running for the 2007 Kentucky Derby -- following the path of his forbearers 1981 Derby winner Pleasant Colony and 1990 winner Unbridled.