[2] As a yearling, Giacometti was offered for sale in October and bought for 5000 guineas by Jack Doyle acting on behalf of the Lloyd's underwriter Charles St George.
He led from the start and was never challenged, winning easily by a margin officially given as twelve lengths although the photo finish strip suggested that he had won by sixteen.
Giacometti won again, but produced a disappointing performance, being ridden along by Tony Murray from the start and struggling to overcome Late Love by a length, with Music Maestro a head away in third.
In the 2000 Guineas over the Rowley Mile at Newmarket Racecourse he faced a strong field and finished second, beaten a length and a half by the French challenger Nonoalco, with the 4/9 favourite Apalachee in third, Northern Taste in fourth and Habat sixth.
Giacometti was matched against older horses for the first time in the Eclipse Stakes over ten furlongs at Sandown in July, and started favourite, but ran poorly and finished fifth of the twelve runners behind the 33/1 outsider Coup de Feu and the four-year-old Ksar.
[5] Giacometti returned in September when he ran in the St Leger over fourteen and a half furlongs at Doncaster Racecourse, with Lester Piggott taking over the ride from Murray.
His task was eased by the withdrawal of Allez France, but he faced thirteen opponents including Coup de Feu, Ksar, Pitcairn (Goodwood Mile), Northern Gem (Pretty Polly Stakes) and Star Appeal.
[6] There was no International Classification of European two-year-olds in 1973: the official handicappers of Britain, Ireland and France compiled separate rankings for horses which competed in those countries.
Timeform gave him a rating of 130, level with Bustino as the best British-trained three-year-old of the year, a pound behind the French horses Nonoalco, Sagaro, Dankaro, Caracolero and Comtesse de Loir.