THE WILD PONIES OF CHINCOTEAGUE follows the annual Chincoteague wild pony swim and auction, as well as one teenager's journey to buy her first foal. The one-hour documentary begins with a legend. In the 17th century, the Spanish galleon La Galga crashed off the Virginia coast. In the hold was a band of ponies. The sinking ship fractured on the shoals, spilling the ponies into the Atlantic Ocean. The ponies swam for their lives and reached the barrier island of Assateague. Their descendants roam free on the island today. Ownership of the herd now belongs to the volunteer fire company on nearby Chincoteague Island. To keep the population in check, the firemen hold an annual auction and sell the foals. Buyers come from across the country and Canada for a chance to bid on a Chincoteague pony. Sabrina Dobbins, a teenager who has struggled with depression, is attending the auction this year to find a pony to help with her recovery. Her dream of owning one of the wild Chincoteague ponies is being realized by a local nonprofit that helps deserving children purchase an auction foal. With her hand held high, the auctioneer barks "Sold!" and, just like that, Sabrina happily becomes the proud owner of Blessing the pony.