Why did Lester Piggott sell his trophies?

Mr Lester Piggott sold his precious items after clearing out his property in Newmarket, Suffolk, to fund his retirement in 2020.

His 1957 and 1960 Epsom Derby winner’s trophies brought £23,500 and £20,000, respectively, at Graham Budd Auctions in London. The sale of the 70 trophies and personal things was projected to fetch the horse racing icon about £80,000.

A commemorative trophy he received after winning 4,000 times was worth £3,100, while his BBC TV Lifetime Achievement award was worth £1,000. The auction also included prizes earned by his father Keith and grandpa Ernie throughout their respective illustrious horse racing careers.

Keith Piggott’s 1963 Grand National trophy, which he used to train Ayala, sold for £8,900. A jockey’s trophy from Ernie Piggott’s victory in the 1919 Grand National aboard Poethlyn sold for £9,400.

Lester, nicknamed “the Longfellow” due to his 5ft 8in size, won two 1000 Guineas, five 2000 Guineas, and nine Epsom Derbys during his career. He began racing at the age of 18 and didn’t stop until he was 60 years old, 41 years later, in 1995.

In 1987, he was imprisoned for 366 days for tax evasion, putting a halt to his career.