King Charles III is auctioning 14 racehorses he was left by his mother, the Queen.
The horses are part of this week’s Tattersalls Autumn Horses in Training Sale, which is the largest sale of its kind in the world.
About 1,500 horses are in the auction that is running throughout the week.
Spokesman Jimmy George said: “It’s nothing out of the ordinary. Every year they would sell horses.
“The Queen had brood mares of her own, she would breed them and sell them. You can’t keep them all.”
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Mr George said the sale did not mean the end of the royal household’s connection with racing.
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“Every year owners sell stock. His Majesty is just doing what owners do,” he added.
The Queen’s love of horses and horse riding was a passion she shared with her mother and is believed to have started with her first riding lesson.
Her Majesty went on to breed and race horses for more than 60 years.
Thoroughbreds owned by the late monarch have won four out of the five flat racing classics – the 1,000 Guineas and 2,000 Guineas, the Oaks and the St Leger – with only the Derby eluding her.