Demonetization is off limits to overseas buyers ahead of the G1 New Zealand Derby (2400m) on March 3.

The son of Vinery sire All Too Hard is currently a $7 co-favourite with Age of Fire for the classic since winning the G2 Auckland Guineas on New Year’s Day.

Trainer Nigel Tiley said Demonetization’s Auckland-based owner Narendra Balia had knocked back all approaches.  “He’s turned down some pretty big offers.  He told me he’s been waiting 25 years to get a good one so he just wants to race him.”

Tiley will bypass the G1 Levin Classic next week and will run him at Counties on January 26 and then go to the Avondale Guineas before the NZ Derby.

“He’s come through the Auckland Guineas really well,” Tiley said.  “He had a bit of a mishap before that when I took him to Ellerslie for a gallop and he got hooked up on the side of the tie-up stalls.

“I wasn’t sure we’d get to the Guineas, but we managed to with the help of the vets.   I’ve given him a little freshen up since.  He’s in the stable, but I won’t put a saddle on him until this week.”

DEMONETIZATION