Aged horse fair market value question

[WNT]

I have no intention of selling my 20+ y.o. TB gelding, but a changing circumstance needs me to figure out what he’s worth. Technically he is still rideable, just needs about 4-6 months of slow conditioning work. He is one of those wonderful (:sigh:) aged semi-pro rides, retired mid-level eventer who thinks he could go out and tear up a prelim xc course. I can hop on him and hack him down the road, but I wouldn’t trust him with a true anmy.

Anyway, I’m fairly sure his FMV is whatever price per pound is at a Mid-Atlantic auction house; short of coughing up for an appraiser does that sound about right?

[saultgirl]

Around here people would be asking much more than the per pound. Probably at least $2500.

[heronponie]

In my area that would be a free horse and you probably couldn’t give him away even at $0.

Some markets are brutal

[WNT]

He’s definitely priceless to me, however I just need to estimate a value for insurance purposes (property, not medical/mortality).

[poltroon]

The accurate estimate would be the per-pound price. If he was in work and sound and taking care of an amateur rider, then more.

[Guilherme]

[QUOTE=WNT;8753487]
He’s definitely priceless to me, however I just need to estimate a value for insurance purposes (property, not medical/mortality).[/QUOTE]

Fair market value? Likely carcass weight.

G.

[Bluey]

Some in a situation like yours will take the horse to a local sale and run it thru and then use that value for those requirements.

Generally those that have a horse they are training or boarding left behind, abandoned, they use that value to buy/sell the horse as a sheriff’s sale type transaction.

That depends on local laws if that is acceptable.

You may consider something like that?

[WNT]

He’s not for sale, a new boarding possibility came up and the property owner’s insurance is requesting values for the horses that may be kept there. I’ve had this horse for nearly 11 years, and he’s certainly not worth monetarily what I paid for him then, and it’s a question that hasn’t had much reason to cross my mind.

I figured he wouldn’t be worth more on paper than about $500 or $600 (he’s pretty pudgy for an older TB). He’s like my old car, he runs but he wouldn’t pass state inspection, as it were, bless him. And I wouldn’t part with him for all the tea in China.

[heronponie]

That makes more sense. In that case, I’d go by weight. Most meat horses in my area fall somewhere in the $0.40 to $0.60 per pound range.

[Guilherme]

[QUOTE=WNT;8753581]
He’s not for sale, a new boarding possibility came up and the property owner’s insurance is requesting values for the horses that may be kept there. I’ve had this horse for nearly 11 years, and he’s certainly not worth monetarily what I paid for him then, and it’s a question that hasn’t had much reason to cross my mind.

I figured he wouldn’t be worth more on paper than about $500 or $600 (he’s pretty pudgy for an older TB). He’s like my old car, he runs but he wouldn’t pass state inspection, as it were, bless him. And I wouldn’t part with him for all the tea in China.[/QUOTE]

You are quite realistic. That’s a breath of fresh air in the sometimes fantasy world of equine valuation.

G.

[clanter]

OP’s question doesn’t include loss of companionship of the pet which a few states would include

States such as Alaska , Florida , Hawaii , Idaho , Kentucky , New York and New Jersey to some extent, as well as the District of Columbia express a willingness to accept claims requesting damages beyond market value.

https://www.animallaw.info/intro/petcompanion-animal-damages

[Bluey]

The OP could also call any insurance company and they would give their figures on insuring that horse, that she then can give to the BO for her insurance.

For insurance purpose, that horse is probably valued at $0.

[Palm_Beach]

Fair market value would be what the horse is worth right now, not what the horse is worth if you put 4 - 6 months of conditioning on him. For a 20+ year old TB, I’d put down $500, if he was suitable for novice riders.

[Guilherme]

[QUOTE=clanter;8753822]
OP’s question doesn’t include loss of companionship of the pet which a few states would include

https://www.animallaw.info/intro/petcompanion-animal-damages[/QUOTE]

This would work only in a state where a horse is “pet” vice “livestock.”

G.

[Countrywood]

I don’t think insurance writes policies on that age horse, call and check of course.

[WNT]

Thanks for the input, everyone.

[shezabrazenmare]

Mine is priceless. He’s been with me for many years.

[WNT]

[QUOTE=shezabrazenmare;8754624]
Mine is priceless. He’s been with me for many years.[/QUOTE]

Ditto, but insurance underwriters don’t view our oldies-but-goodies through the same lens we do :winkgrin: