Not seeing much change here. I think sellers are hoping for those last high prices. For example, a 22y.o. gaited gelding that needs a tune-up and body-work … they want $2500. Nope, not paying for the pleasure of retiring your oldster on $30/bale hay and $$$ grain for you.
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This is my observation, but I’m not sure it can be tied to the economy… Horses that can safely take an ammy around 2’6"+ still fly off the shelves at almost any price point. It’s the prospects that seem to be slowing down a little. That’s what I think I’m seeing. Anyone care to venture an opinion on why that could be? Maybe with the cost of everything, the idea of sinking two years into a greenie isn’t so appealing anymore?
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I think it’s also that inflation hits the “middle” class harder. A lot of the market for greenies is due to people buying the best horse they can in their budget - if they can do the training. I imagine folks at that level are more likely to have to think about budget. If you can pay $50K and up for a horse, you likely have deeper pockets to survive the pinch.
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I have my eye on a mid-teens,grade gelding that is broke (but nothing fancy). I would buy him today but he is about double what he would have gone for a year ago.
We are seeing COVID dogs coming into shelters here, with most shelters being full up and euthanizing for space. With hay costs rising, I just don’t see how horse prices can still be this high. Tack isn’t selling. Trailers are still way over priced. Local case in point: 45 year old, two horse straight load with plywood sides is priced at $2,000. That is crazy. But someone bought it.
Sheilah
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I am definitely seeing an uptick in cute-looking H/J horses in the $15k - $30k range and I feel like there was NOTHING at that price point a few months ago. I saw a mare for $20k that easily could have been listed for 2x that earlier in the year.
Also seeing some older Western and trail types being offered in the very low 4 figs due to high hay prices and I think it’s only the start of that. 
Somebody paying even $20K for a horse isn’t middle-class, unless they are making significant financial sacrifices elsewhere or are comfortable with debt. I forget how privileged one has to be to enjoy this sport. My experience is the horses I am trying at the top end of my budget ($40K) feel more like $20-30K horses and that’s been true for me since the pandemic hit. But obviously I am an outlier given how crazy the horse market has been.
Now money is no longer cheap, inflation is no longer low, the major stock indices are in a bear market, and the real estate market is anyone’s guess - I don’t see that changing in the near term and I am not surprised by any of it. Unless this time is truly different, I expect demand for horses to drop and price sensitivity to increase. Anecdotally, I’m not seeing horses sell as quickly as they were a couple of months ago, yet prices aren’t coming down that much. I am wondering if/when they will.
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Working ranch horses or horses that can seriously go compete in cow and ranch events are still selling nicely. Ditto for truly fancy western or all-around AQHA/Paint show prospects that are well started. But anything mediocre in movement or talent, or that has already been rejected as simply not “show pen worthy” suddenly seems like it can’t be given away. At least that’s how it’s going here in much of Arizona.
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Interesting… I bet the English market is going to trend that way too.
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I picked my four year old up from my trainer this morning, where he was for 90 days of starting. We were discussing horse prices, and whether or not we’ll see a glut on the market this fall due to rising hay and feed prices, as well as fuel prices. We both believe there will be more horses for sale and much lower prices.
We are in the mid South, and are starting into our second week of extremely high temperatures and no rain. We have been “in hay” here for the last two weeks, but no rain at this point means no regrowth. Diesel here is at $5.79 a gallon, which is not as bad as other states, but still not great.
I ended up buying a young horse last year, due to the price of made horses at the time I was looking. I fed him for a year, kept him up to date with all farrier and vet work, and then sent him off for training. I still have less invested in him than I would have spent on something finished. Yes, I will still be riding him to finish him, but I enjoy that part of the process.
In fact, I have enjoyed this so much I bought his yearling half brother so we can do this again in a few years! Because we farm and have large amounts of pasture and hay, it makes it easy to “grow” these horses myself. I am also finding I get to know them and their personalities and temperaments, and understand where their holes are.
I can also tell you I have well less than 5 figures in them until they are riding well!
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As fuel prices continue to rise and inflation starts to affect more people and once the majority of hay is made and priced and feed prices continue to rise , I believe things will slowly change.
Add to that the interest rates finally being raised significantly and more often, Some of us will see horse prices come down as people need to unload and lighten the burden on their outgoing expenses.
If you are still looking to buy you may have more horses to choose from at least.
you want a ranch horse then contact the dude ranches that have been providing rides into northern Yellowstone…saw one that has forty head …nearly all of their bookings have canceled, All of their hay washed way, all off their hay fields are gone… IF they can find hay it will need to be trucked in… not desperate Yet but will be soon
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I convinced myself I didn’t need the nice mare a friend is selling. Then a nicer road pony at the same price point showed up. As much as I’d like a finished show horse for <$10K, I won’t do it. The lease I’ve had is a yet unfinished project and at the end of the day, he’s not mine. I can walk away easily from my current arrangement.
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@red_mares , I can relate. I really thought I was going to be in a place to maybe buy something or pick up a full lease about a month ago, after looking forward to it for years, but changes in the economy and work put a halt on that for me. I’m glad that it did, it gives me some peace of mind to not be locked into a commitment right now. Sure, I’d love to step up from a half lease sooner rather than later but it’s not worth my sanity or financial stability at the moment.
I have friend that goes to several ranch horse and cow horse sales in Texas and he has seen a reduction in the number of buyers at the recent sales. Fewer buyers = lower prices.
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I am seeing that here as well (South East TX). The rescues are getting full with them as well.
I am seeing more horses on the market when perusing the internet and it seems a lot of the ads are of “prospects”. My opinion is that no one wants an extra mouth to feed since food for everyone and everything is increasing.
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Not sure how much of a barometer this is, but after reading this thread I asked the lady who runs the nice horse/pony/donkey rescue near my barn if she’d noticed a trend.
She said that she’s now getting at least one call a day from people who want to “drop off” their unwanted horse at her place. Of course it’s usually an older horse with soundness or behavior issues that hasn’t been ridden regularly for a long time. And now it’s too expensive to pay the monthly board bill or keep as a conversation piece in their backyard.
She is full, and her foster homes are filled, too. Not sure where these unwanted horses will end up, other than the feedlot or on a long, hot, miserable trip to Mexico. Maybe there will just suddenly be more loose horses on the state trust lands.
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Horses in Europe are cheaper with the euro being so low. Some of the savings is eaten up by higher import costs but a much better equation at an almost 1:1 instead the 1:1.3.
