Emaratee, the colt which went through the sale ring for $4 million, has been beaten on debut by a horse which didn't attract a bid as a yearling.

The three-year-old finished two lengths second to Spill The Beans in a maiden race at Gosford on Thursday, sitting outside the leader but was unable to match the winner's sprint.

Winning trainer Gerald Ryan, who prepares Spill The Beans for Arrowfield Stud, said the son of Snitzel was unwanted at the sales because of X-ray issues.

While Spill The Beans was backed into odds-on favouritism, Emaratee drifted from $3.70 to start $7.

By Fastnet Rock, Emaratee is prepared by Hawkes Racing and is a three-quarter brother to stablemate and Silver Slipper winner Headwater.