Why did Alexander the Great’s horse cost so much?

The story goes that Alexander’s father Phillip II paid a merchant 13 talents for
Alexander’s horse Bucephalus (literally “Ox head”) after first turning the merchant away because the horse was behaving erratically and refused to be mounted.

Alexander noticed that it was behaving erratically because it was afraid of its own shadow. Alexander turned the horse away from its shadow and the horse calmed down and allowed Alexander to mount it.

Plutarch says that the incident so impressed Philip that he told Alexander:
"O my son, look thee out a kingdom equal to and worthy of thyself, for Macedonia is too little for thee."

Then he immediately purchased the horse for his son at a price of 13 talents of silver.

But upon hearing this story my immediate thought was: “Why on Earth was Bucephalus so darned expensive?”

Back then a single talent was ALOT of money. Approximately 57 pounds (26kg) of silver equalled 1 talent and apparently Phillip paid 13 talents which is 741 pounds of silver or approximately 78,000 drachmae.

That means Phillip II basically paid the horse’s weight in silver for Bucephalus.

For a price comparison: 1 talent was a month’s pay for an entire trireme crew of 200 men.

100 drachmas = 1 mina
60 mina = 1 talent

Why would he pay so much? Surely there were many other fine horses that could’ve been had for much much cheaper. It’s not like Macedon at the time was stupidly rich and able to afford squandering massive amounts of money on things like that.

Does anyone have any thoughts or insight into why Phillip II would have paid so much money for Alexander’s horse Bucephalus?

 

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First, Philip II was probably the richest person in Greece at the time, and Bucephalus a superhorse with a pedigree tracing his ancestry back to Pegasus himself (Had I been the seller, this is what I would have told him).
Now let's be realistic. Have you heard of the yearlings auctions in Deauville? When they take place there are no vacancies in the Royal or the Normandy Hotels. Bidders from the whole planet are here, emirs and princes from Saudi Arabia and the Gulf who land in Saint Gatien airport on their private jets and jam the traffic with their caravans of armoured limousines. In their culture nothing is more prestigious than an outstanding horse and they can pay anything for it. Anything. I think it is very likely that Philip of Macedon shared the same ideas.

 

No price was too high to make his son happy

 

That’s a good point and to be honest that’s what I thought at first.

I assumed “Maybe it was just a world class horse with an incredible pedigree like the horses that today sell for a few million dollars”.

But if you look again at the story you’ll notice something. The merchant states the price as 13 talents while the horse is still acting erratic and wild and refuses to be mounted. It’s only after Alexander calms it that the price is paid.

Today when those billionaire Emirs pay millions of dollars for a race horse those horses are already highly trained and in peak physical & behavioral condition.

Another important thing to remember is today those horses are viewed as financial investments. When they win races they make money for the owner and can actually make a big profit if they win enough races.

So when the merchant originally tried to sell it the horse would not have come across as a top notch horse. It would’ve appeared at the time to be a problem horse with serious behavioral problems and potentially a useless horse if Alexander hadn’t figured out that it was the horse’s shadow causing it to behave like that.

It’s only after Alexander calms it down that the horse proves to be an excellent traveling companion and riding horse.

Oh and it’s also crazy how long Alexander kept it and how far he rode it. Apparently they had a very close bond and Alexander actually named some cities after Bucephalus.

 

Idk 78,000 drachmae is a pretty high price xD. I’m sure Alexander would’ve been just as happy with a 10,000 drachmae horse.

Sometimes though I wonder if he bought it as a reminder for his son that he was destined for great things rather than paying that fortune because he believed the horse itself was worth that much.

 

Surely no politician or ruler has ever exaggerated anything to make themselves seem larger than life.

 

Bucephalus had a large white star on his brow. (A star is a Macedonian royal symbol.)

There is a story, I don't know if it is true, that the horse and Alexander were born simultaneously (same birthday?).

The horse was the equine equivalent of the young Alexander himself. By purchasing it, Philip demonstrated that Alexander was the chosen one. If he had taken a pass, people might have started doubting the signs and portents around Alexander.

 

The whole story, including Philip's famous quote, is most probably a legend. Let us not forget that Alexander divinized his horse. Bucephalus was officially honoured as a divine horse, like Xanthos and Balios the two divine and immortal horses Zeus presented to Peleus as a wedding gift, and Peleus gave to his son Achilles for his chariot. One of them could even speak ! It is in the Iliad, a classic all the Greeks knew... For me, the incredible price is part of the legend, as is the story of the boy being the only one able to tame the horse so his father foretells he will become an even greater king than himself. This is not a rodeo story, this is a royal ordeal story. The same exists in medieval romances : young Arthur was the only one able to pull out the sword from the anvil, and thus recognized as the True King.
There are many other stories about famous horses ...

 

What value is your life? Bucephalus was a war horse sired to carry a man into battle and survive the extremely hostile environment of that battlefield. That animal could save your life. There is a monument in the crypt of St Paul's in London for this man. General Sir William Ponsonby was commander of the British cavalry at the Battle of Waterloo. He led his cavalry on a successful attack on a column of French infantry. After routing this formation he continued with his attack but got isolated from the rest of his men. Pursued by French lancers his horse got bogged down in a muddy field and Ponsonby was killed. Glorious but unavoidable death? No Sir William was worried that his good horses might get all shot up during the battle, so he chose to take into battle one of his inferior horses which may have cost him his life. Photos by T Cheesman

 

The story is unlikely to be historically accurate. Plutarch was writing 400 years after the events took place, and unless he is referencing a contemporary primary source (which he does not) the dialogue and many details are simply made up.

Remember that a historian’s job in Roman times was to create a readable a work that reflected his morals and values, or those of his patron. Adding creative details to make a point was not a bad thing. A different way to ask the question would be: Why did Plutarch write that ‘Philoneikus the Thessalian brought the horse Boukephalus and offered it to Philip for the sum of thirteen talents’?

 

One might also ask why Jesus used "10,000 talents" in his parable of the unmerciful servant (Matthew 18:24 reads μυρίων ταλάντων). Hyperbole to make a point.

 

Luckily the Coins of Bucepahlus are affordable:

 

You know, you really should know your subject before you state your opinion as fact, otherwise you damage your credibility.

People pay big money at yearling auctions precisely because (the hint is in the auction title: "yearling") they are young. They are betting on the pedigree of the horse, their ability to identify which horse may develop into a winner & the assessment of their staff of experts, including trainers, vets, jockeys, etc. They bet that their own people can develop the winner.

Already trained horses do not routinely sell (at least not the really good ones) except, for example, at "claiming races" (yes, exactly what the name means - you can obtain any horse in a "claiming" race - they are identified on the daily racing form); or through a private sale, etc. Owners (that term includes their "advisors") may do this if they see things in a horse they think they can improve upon.

And while they can make big money winning races, the really big money is in finding the next champion & marketing the stud services.

Racehorse ownership is not for anyone who does not have money to burn!

 

A TROPHY horse, like a trophy wife, is worth whatever it takes to own it... a statement piece, like no other BUT ONEs own, REGAL privilege, and so on and so forth.

 

Interesting!

 

WOW!! This is way over my head. When I was in the 8th and 9th grade, I started reading stories about many of the Roman and Greek heroes. (Actually, I read just about anything that I could learn from. I also read Arthur C. Clarke and Isaac Asimov (Foundation series). Aside from some entries on Coin Talk, I like the entries because most of the folks that write here, probably have an IQ higher than most college professors and almost all high school teachers. (I married a High School English teacher that is way smarter than I am.)
Anyway, keep these entries alive. Thanks. Jim

 

I suppose it is inappropriate to point out the parallel that could be drawn to the horse and the best coins sold at auction today. When you have one billion you are in no position to compete at a sale with those who have 10 billion. Perhaps you should be glad that Jeff Bezos and Elon Musk do not collect ancient coins (or do they???).
https://en.wikipedia.org/wiki/List_of_wealthiest_Americans_by_net_worth

Elon Musk did not want a cheap horse. He wanted a spaceship.

Don't forget there are other rich people who are not Americans. Who is top of the list that does collect?

 

As other said, probably legend or at least very inaccurate.
Whatever the price though, what comes to my mind is that he scoffed at the price because of the horse's behavior. But after seeing Alexander mount it he knew the horse could be tamed and that his son was the one to do it. And he probably took it as a sign or omen too.
That change of the horse's behavior would explain why he initially turned the merchant away but then changed his mind and agreed to pay a huge sum of money.
That's my interpretation. Now, as for 741 pounds of silver, I find that pretty unbelievable as well.

 

Here’s a worn but favorite coin of mine showing the taming of Bucephalus.
Like many of my coins, this one needs a better photo taken.

Even at the time of the minting of this coin (around the time of Gordian III (240s Ad)), the legend of Alexander’s taming of Bucephalus was nearly 600 years old.
Koinon of Macedonia
ALEXANDR-OY, Diademed head of Alexander right
KOINON MAKEDONWN B NE-W, Alexander standing right, taming Bucephalus, holding the horse's reins with both hands. AMNG III-I 556/7

 

Rumor has it that the Temple of Artemis was burned down the same day Alexander was born too.

His mother Olympia told him that it burned down because Artemis herself was away from guarding it because she was watching over Alexander’s birth and thus not protecting her own temple.