Breeding and colour. Not many palomino gypsies out there and are literally worth their weight in gold when you get one with the right hair/conformation/breeding/. Probably will be sold abroad, they're crazy for them.
If you think his price is bad...I'd daredn't say how much our blue roan chap was bought for as a yearling last year!
Proper breeding cobs are in a world of their own. They're not bred and bought to be just 'happy hacking cobs' the general public are used to. It's all heritage/breeding/etc...it's quite crazy to get your head round the prices.