Any signs yet that the crazy horse market is finally cooling down?

[jcc813]

If not quite yet, I imagine probably pretty soon? Aside from inflation and recession worries, I believe the trends are showing that people are starting to put dollars towards travel and experiences more than buying “stuff.”

I’m hoping this might actually bode well for me as I potentially need to start looking for a new partner later this year/early next as my current horse is getting up in years.

I haven’t been keeping a super close eye on listings but others I know who’ve bought horses recently have told me how crazy and inflated the market’s been.

[Scribbler]

@jcc813

If not quite yet, I imagine probably pretty soon? Aside from inflation and recession worries, I believe the trends are showing that people are starting to put dollars towards travel and experiences more than buying “stuff.”

I’m hoping this might actually bode well for me as I potentially need to start looking for a new partner later this year/early next as my current horse is getting up in years.

I haven’t been keeping a super close eye on listings but others I know who’ve bought horses recently have told me how crazy and inflated the market’s been.

Horses are an experience!!

[jcc813]

@Scribbler Haha, I guess I can’t argue with that. Although there is a difference paying someone for an hour’s trail ride then tossing the reins over vs being the one on the hook for everything that happens post ride, too.

[CindyCRNA]

I was thinking that too. Surely this will bring the market back down a bit…I hope, I hope.

[findthedistance]

I work in therapeutic riding and we’re starting to get calls from people looking to place horses, which hasn’t happened in a while. I’m assuming that means the lower end of the market is starting to cool.

[MadTrotter]

I feel like with every market cycle, the most extravagantly priced things retain their princely values, but the rest of us who aren’t so fabulously wealthy to be recession proof will notice a fall in prices for the middle and low end of the economy continues to worsen.

I say middle price as being anything from $8-$50k. $50k used to sound like a LOT for a horse until people I know who are not super rich started paying $80k for a pickup. Then again you can’t finance a horse at the dealer….

We will probably see a lot of middle price horses, well-trained and proven, but new owners who weren’t expecting the maintenance costs like joint injections, who may try to unload expensive to maintain horses for less than purchased. I do not expect vet costs to go down!

I really feel like the “middle” budget equestrian has shrunk in the last 20 years. Anyone making enough to afford it has to live in high COL areas which makes ownership even harder. Will see how remote work affects this.

[amb]

Absolutely. I’ve been pretty actively tracking the low-middle market for a while, and lately (past month or so?) it’s gone from having nothing to look at to having quite a few options.

[cayuse]

Sadly, I’ve seen quite a few older “low end” horses being dumped lately. Breaks my heart. Two years ago same type of horses would’ve been a hot commodity for beginners with nothing to do because of covid lock downs/restrictions.

[jcc813]

Middle price market is my jam, so fingers crossed.

I do feel bad, though, seeing horses with extra needs starting to get off loaded. Like the people who rushed to adopt cats and dogs during COVID then started sending them back to shelters. Not cool.

[twostinkydogs]

I haven’t been willing to pay pandemic prices for a horse or a house. But the market is so tough to read and obviously there’s no data to track so I second guess myself even though the economy has fundamentally made no sense for the last 2+ years.

Yesterday I randomly looked through the sold ads on Warmbloods from a big sales barn that has a horse I am going to try. Three horses with the same sire and roughly the same age and level of training sold in 2019-early 2020 for around 40% less than what they are asking now.

Things may not change at the wealthy end of the market but I think the 20-50k will. If I didn’t have a really stable job, I would be too nervous to get a second horse in the current environment. I don’t even want to think about the horses at the low end of the market

[Blugal]

I think it’s going to cool as we find out hay prices in the next few weeks. Rumour has it hay will cost double what it did last year…

[Spudsmyguy]

Hay prices here in WA have gone down some as growers are bringing in their first cutting and second cutting is well on its way to being ready. Local grass can be found for $8.00 a bale (50 - 60 lb). Alfalfa and orchard grass (80 - 90 lb) are going for around $22 as opposed to $27+ a few weeks ago.

[lenapesadie]

While I was browsing FB recently, I saw an ad for an older mid level schoolmaster type. Moderate sized 16.2, mare, registered WB. Ammy friendly. Currently actively showing. Advertised in the upper 4s. Moderate maintenance required. I personally thought that was significantly less than what I’ve seen similar types go for in the past year or two when advertised to the public.

Disclaimer- I just saw the ad. For all I know the horse was a train wreck and priced accordingly. But if I was looking to buy, I would have been very interested.

[jcc813]

Upper 4s?? Wow. Where were they located if you don’t mind sharing?

[lenapesadie]

It was in a group for FL but it’s possible the horse was located elsewhere.

[Rel6]

I feel like recently I’ve seen a lot more younger, nice warmbloods who are jumping courses (albeit green) in the lows 5s. Six months ago, when I was shopping, I wasn’t seeing that at all. I feel like I’m seeing a lot more in general in the low 5s and high 4s (TBs and WBs) that a strong ammy or junior could get on and go show locally, and I couldn’t really find that back in January.

[Spudsmyguy]

I’ve been seeing lower prices in our area (PNW) on FB at least. Horses that I would have expected to be priced in the low 5s are now in the mid to upper 4s.

[Ergots]

In my area there seems to be a bigger selection of nice, restated OTTB’s in the 3-6k range ( last year the same type was twice or thrice as much, IF you could find one) Oh, and used horse trailers are steadily becoming available again.

[Pico_Banana]

@lenapesadie

While I was browsing FB recently, I saw an ad for an older mid level schoolmaster type. Moderate sized 16.2, mare, registered WB. Ammy friendly. Currently actively showing. Advertised in the upper 4s. Moderate maintenance required. I personally thought that was significantly less than what I’ve seen similar types go for in the past year or two when advertised to the public.

Yeah, I haven’t seen anything at all like that. Horses meeting that description seem to be mid-fives still.

[lenapesadie]

Maybe a different idea of older and/or mid level?

I’m definitely seeing younger talented horses or those ready to show FEI mid fives and up