Mindy. A DNA test is possible I would assume. I have heard of it being done. But in most cases, 99.999% of the time, it is based on the reputation of the seller.
Now I can see taking a 130K bird and using a boat load of pumpers to raise the eggs from said bird. Then selling all of those babies for several thousand dollars a piece, and eventually making a profit.
But imagine the purchaser of this 131K young bird, actually racing it. It won't happen. It will only be used to produce babies for sale. I doubt any babies from this bird will even be raced by the new owner. Just sold on its pedigree and the historic factor.
As to the wedding and bird scenario I presented. I was not interjecting "real life" into the equation. Because sure, it is doubtful that if someone only has 20K in their savings account, that they would spend it on ANY one thing. But the question is too show that people make dumb choices all of the time. Spending large amounts of money on weddings is just dumb. Spending large amounts of money on pigeons is also dumb, but has the "possibility" of producing an income and even making a profit. That makes the wedding expenditure the "more" dumb idea financially, of the two choices.
I actually think the buyer of this young bird, will make a profit over the long haul. But it is a gamble. What happens with that "investment" after some birds are bought by someone in Japan or China for big amounts of money, and they actually fly the darn things and they don't do any better than the guys other birds?
Then the price goes down. But if the prodigy go on to win, like Sure Bets have, then there is money to be made.
There is also the "I own this" factor. Just haing the bragging rights in someones circle of acquantices that you have the most expensive "this or that", can mean a lot to a certain type of personality. That is why some of the really rich spend a little more on their daughters wedding than the other guy did last month. Before you know it, they are speding four million dollars for a lavish wedding that becomes a divorce in a couple of years. It ain't about having a great wedding. It is about surpassing the Jones's.
Silly stuff no matter how you look at it. All of the money spent on weddings. ANYONE that spends a half million dollars for a wedding dress, IMO, has mental and/or emotional problems. Even IF a half million to them is no big amount. It is still silly.
So. Buying this bird is not the worst expenditure of money I have ever seen.