Supercars, flash holidays and lavish homes have always been a mainstay in the lives of the super-rich, seeking to boast about their pampered lifestyles of luxury and excess.
But now it appears wealthy millennials are turning their gaze towards snapping up top racehorses, as the latest way to brag about their silver-spooned lives of privilege.
Everyone from the likes of university students and alcohol entrepreneurs, to Qatari playboys appear to be saddling up and splashing out the big bucks for a slice of the action - with some spending more than £1million for a horse.
And it's a trend savvy auctioneers are seizing upon, as they try and tempt social-media obsessed youngsters into parting with their cash, by selling them the dream of one day parading around Ascot and rubbing shoulders with royalty.
'Come to Kensington Gardens on the Monday, buy a racehorse and by the Tuesday you will be in the parade ring at one of the world's most famous racecourses [Royal Ascot] alongside members of the British royal family and other royal families, with your own racehorse in your colours,' declares auctioneer Henry Beeby.
Qatari royal Sheikh Fahad Bin Abdullah Al Thani is among the young and rich splashing out on horses. He is pictured finishing second in a charity race at Ascot racecourse on April 2016)
Many millennials are now being targeted by auctioneers selling horses, who are trying to sell them the 'dream' of celebrating in the winners' enclosure and rubbing shoulders with royalty (pictured is Sheikh Fahad with King Charles and Queen Camilla in 2017)
Young students like 22-year-old Cameron Sword are spending thousands on a share to own a horses, with his, Corach Rambler, going on to win the Grand National in 2023
While entrepreneurs like Neil Sands (pictured) and his American father Con, have spent more than £1million on a horse
Beeby, the chief executive of the thoroughbred racehorse auctioneers Goffs, was summing up his pitch during a private event in London's swanky Mayfair district ahead of this year's Ascot spectacle in June.
Beeby, who has been in the race industry for four decades, said the 'dream' he was selling was the easiest way to 'target the fastest group of UHNWIs [ultra-high net worth individuals] - millennials'.
'They've got the money,' he told the Guardian, before adding there was 'nothing like seeing your horse and your jockey in your colours on the track and - my word - if it happens to win and you can share that joy with your friends.'
The high-end auctions are staged at Perk Fields, part of the normally private Royal grounds of Kensington Palace, with last year's event seeing 11 horses sold for a whopping total of £3.8million.
Top of the lot in 2023 was Givemethebeatboys, which sold to alcohol entrepreneur Neil Sands and his American father, Con for £1.1million.
Savvy auctioneers are seizing upon the trend, as they try and tempt social-media obsessed youngsters into parting with their cash, by selling them the dream of one day parading around Ascot and rubbing shoulders with royalty
Neil, who is the co-founder of Irish whiskey firm, Lost Irish, raced the horse at Ascot the day after splashing out the cash on it.
But despite the huge sum spent on it, the Sands' equine investment failed to win, placing fourth - scuppering any hope the father and son duo had of entering the winners' enclosure.
'We didn't pay a fortune to have a horse at Ascot,' Neil told the Racing Post afterward. 'We paid a fortune to have a great horse - and we still have a great horse.
'He's still at the front of his career and has put world-class talent to the pin of their collar for five and a half furlongs. I think it's one of what will be many great runs.'
More successful in their investment was 22-year-old Cameron Sword, who splashed out £3,400 for his share of Corach Rambler back in 2020.
Cameron, a business student at Edinburgh's Heriot-Watt University, co-owns the horse with six other people as part of the 'Ramblers syndicate'.
The animal went on to become one of the most unlikely Grand National winners and has already amassed a career earnings of £686,241, with Cameron pocketing more than £100,000 and appearing in winners' paddock celebrating the victory.
Corach Rambler went on to race last week at Aintree but any hopes of a successive Grand National victory were dashed when the horse fell at the first fence.
More successful in their investment was 22-year-old Cameron Sword, who splashed out £3,400 for his share of Corach Rambler back in 2020.
Cameron (left), a business student at Edinburgh 's Heriot-Watt University, co-owns the horse with six other people as part of the 'Ramblers syndicate'.
The animal went on to become one of the most unlikely Grand National winners and has already amassed a career earnings of £686,241, with Cameron pocketing more than £100,000 and appearing in winners' paddock celebrating the victory
Speaking ahead of last week's race, Cameron - whose last university exam is next month - said: 'There's no pressure as however he runs doesn't change how much of a legend he is in our eyes.'
'Last year it seemed like such an impossible task, whereas this year it feels different as we're trying to emulate what some of the Grand National greats have done by winning the race twice,' he added.
Cameron added he became addicted to watching horse racing during the coronavirus pandemic, and started to research the sport before investing his cash.
Since stumping up the cash for his share, the Scottish student has gone on to rub shoulders with the likes Harry Redknapp at Cheltenham.
Taking to social media after his first Grand National victory with Corach Rambler last year, Cameron wrote: 'The proudest and most special day of my life, thanks to Corach.'
'Something I have dreamed of writing but never thought would come true. An amazing ride from Derek Fox to top off the most unbelievable season in racing.
'I feel very privileged to have been part of this journey.'
The prestige of horse racing has also captured the eye of wealthy young Qatari royal, Sheikh Fahad bin Abdullah Al Thani.
Sheikh Fahad Al Thani of Qipco at Ascot Racecourse King George Vl weekend in July, 2016
The wealthy Qatari royal (right) has become a huge name in the sport racing industry, having splashed out millions on his prized animals
Sheikh Fahad Al Thani has even raced. He is pictured after winning The 347th Running of The Newmarket Town Plate on Almagest in July 2016
The 34-year-old has been smitten with the sport since attending his first race at Newmarket, buying his first horse soon after.
Worth an estimated $5bn, the wealthy playboy - the son of a former prime minister of Qatar - has now become a dominant force in the sport.
He runs Qatar Racing and has raked in millions of pounds in winnings, having previously spent a staggering £4.72million on a racehorse - which become the most expensive filly in British auction history.
In his first year of racing, his horses won an impressive 26 per cent of the races he entered, with Sheikh Fahad personally riding to victory at Newmarket in July 2016.