Discussion: How to price horses these days?
Jul 22 2008
Pricing sale horses correctly has always been a challenge. I remember years ago seeing a well broke but not finished, pretty AQHA mare sit and sit and sit at $2500. The owner finally got the idea to up her price to $3500. I bet she was sold in two weeks. Whoever bought her was looking to spend $3500, that’s what they searched for, and that’s what they got. Go figure.
In the last year, I’ve seen horses who sold for $5000 just a few years ago go for under $1000. I’ve also seen a pony purchased for $500 get resold with some training and showing for $8000. That’s kind of obvious – training and showing successfully will up the price on any horse, but there’s more to it. A lot was presentation. The pony at $8000 was clipped, shiny, and living in an A circuit barn. He was a long way from the feedlot he’d come off of less than a year earlier.
But, you know, it’s just a weird time to sell horses. Like I said, I can get you a free Thoroughbred any day of the week and I know of quite a few free Quarter Horses right now. The Thoroughbreds are just track broke, they may need some lay up, but still, free is pretty cool.
Here’s what I’ve observed in the past few years about selling horses:
1) If there’s any kind of a major flaw or what people perceive as a major flaw – cribbing, not tying, swayback, a maintenance issue – you are screwed. You are looking at $1000 or under with one exception – if the horse is in a Big Name Trainer’s barn and the BNT can talk some amateur into the sale.
2) Much of the general horse-buying public still thinks anything over 12 is old, and that they shouldn’t have to pay very much for it.
3) Most people don’t want to train their own. They absolutely will pay $5000 for a trained TB instead of picking up one for free that is fresh off the track and paying someone to train it or doing it themselves. I think this has to do with risk. They just don’t want to gamble. They want to see the finished product even if that costs them more money. They are making not just a financial, but an emotional investment in a horse, and they don’t want to have to go back to the drawing board and try again.
Like I say, I have a list a mile long of free horses I can get you. Some are giveaways, some are care leases, but if you want a horse, I can get you one. Most need training, some need rehabbing. But for those who have sound, trained horses for sale – how do you price them these days? I think a lot of people are completely baffled at what the values really are in today’s market, where so many excellent horses are going cheap or free because of an inability to provide for them.
Let’s discuss this a bit. Name your part of the country and tell me what the following would sell for or what you’ve actually sold the following for this year. My answers are below for the categories of horses I’ve sold or friends have sold in the past year. I’m in the PNW.
a) well broke trail horse, safe for a beginner, either grade or unremarkably-bred registered horse (free to $700)
b) too young to ride, but with breed/rated show potential ($1500 – $5000)
c) too young to ride, 4-H/open show potential (free to $1000)
d) green broke, with breed/rated show potential ($2500)
e) green broke, 4-H/open show potential ($800)
f) OTTB, ready to be retrained (free to $1000)
g) OTTB, retrained and ready to compete or been to a few shows ($5000)
This should be interesting, and informative. I think we all agree that the way to sell them these days is training, training, training (and a competition record is even better), but now I want to talk about what they are actually selling for. I think the other big factor is presentation (is the horse clipped? shiny? good weight? is the handler/rider/seller professional? is the horse at a nice facility?) What else do you think makes the difference between selling the same horse for $5000 or $1000? (We know it happens all the time!)
2 comments to “Discussion: How to price horses these days?”
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I personally think it’s all about presentation.
I recently rescued a mare from a kill pen for $500, she is now for sale for $2,500.
The total cost I spent on her was $1,032 including the amount I bought her for.
She’s a good horse. I broke her in pretty well (which is why she is worth so much more now) and when taking photo’s for the ads, we groomed her, made sure her coat was nice and shiny had her standing in front of a nice background and took pictures of her being ridden in a lovely big field full of green grass. We got a good conformation shot and a few of her being ridden. The ad was worded well and I made sure there were no spelling mistakes. Presentation makes a difference.
I think pricing is about locality and availability, as well as presentation, training, and breeding.
The barn I learned at was a barn set in rural, depressed Michigan. You could get horses out of auction for $100-$500. CANTER was adopting out lots of TBs for cheap, and everyone with a horse in their backyard was trying to get rid of their horses for cheap. There was a glut on the market, but hay was getting expensive ($5-15 a bale) and board kept raising because of cost inflation. I never saw horses move if they were priced $500. My trainer and I were working with a “sport horse” hoarder that had an Egyptian Arab gelding she wanted to sell for $5K (he had no training and was only barely halter broke at 2 years old) and a PercheronXFriesian filly she wanted to sell for $8K (again no training and wouldn’t tie to save her life). This woman also picked up a mini sport horse she wanted to flip for about $5K (no training) and 2 CANTER mares she wanted to flip for about $2K a piece. My trainer and I were out there to train all of these. I was working with the draft filly to teach her basic manners. She was a 2 year old that stood about 16 hh, and weighed as much as my arab (Who was pudgy) and would try the patience of a saint. None of those horses moved. The filly was finally traded for a welsh type A. (this woman wanted to breed and show sport horses, but wouldn’t get in the saddle to train…) And didn’t want to pay for training (my friend was paid gas money…)
Out here in california I’ve priced halter broke horses at between $1K and $5K depending on where they are. My friend wants to sell 3 of her 5 because she has a baby on the way. She is hoping to get what she paid for them. I can tell her now she won’t get that. All 5 have pretty much sat the last year because we can’t work them, we have no area to work them. The cremello needs to learn to give to a bit and collect is long frame, the black QH needs to learn to give to cues, the chestnut mare needs a job with someone that can use her to her potential and the Mor-Ab needs manners. The old arab mare just needs a retirement home. I told her she will be lucky if she gets $1k a piece for the cremello, the black QH and the chestnut QH. They are all smart but will all try to get away with everything because they haven’t gotten much by way of manners put into them. I told her I will work them when I get an arena to work them in and trails to ride them on, not roads (I don’t like how rough pavement is on horses or myself). I also warned her it will probably take a good year to home the horses after they are up to speed on their training.
personally I think the black QH would make a good game pony or cow horse, he is fast and agile. The cremello could be good for flatwork in an English class of some sort, he is very TB looking for a QH. The chestnut would be a good game horse, she is fast and loves to go fast. I was walking poles with her and did a few barrel patterns and she was excited. She is good as a pony-ride, too.
I have been photographing horses for as long as I have been involved with them and have learned how to photograph them in a flattering way. Coming up with a good ad picture won’t be hard, its the training that will be. (it will be enjoyable though)