Looking for advice

[Moneypitt]

I’m very sorry for your loss.

I think the first place to start is to determine if the horse was insured. Typically, expensive horses are insured for both mortality and health. That insurance policy could be an indication of the value when purchased since purchase price is usually the insurance value.

Second, pretty much everything to do with horses costs money. This does not necessarily increase the value of the horse; however. Early, training can increase value. Show performance winnings can increase value. Teen age, arthritis, injuries, ect decrease value. In fact, it’s difficult to even find insurance on horses over 15 years old.

You should expect to pay between $1,000-$2,000/month or more; for board/training/farrier ect. in Texas. Most trainers charge around 15-20% commission fee to sell a horse. A through Veterinary exam might be prudent since buyers will want xrays ect and any limiting findings can impact value.

Third, there are Equine Appraisers the estate can hire, if need be, to determine value. I’m not sure the cost in that? Maybe in the mid three figures?

In order to minimize expenses for the estate, it’s probably best to find out a realistic value and find the horse a good home. Hopefully the current trainer can conduct the sale process or recommend someone reliable. Luckily, it’s a sellers market.

Best wishes!!

[crimsonrose]

I am so sorry for your loss

The short answer: it really depends.

You ask wonderful questions and there is a lot of variables:

1. Where the horse is located and what type of program it’s in (assuming full board and training). It’s similar to the housing market in that where you live, the quality of the facility and trainer dictate prices. For example, I pay $220 for shoes now, but in my old state I paid $150 for the same thing. Depending on your area, you’ll find add ons potentially like full care (grooming, turn out of horse) that is separate from board and training, as well as a la carte expenses like supplements and medication (if needed). The horse’s current trainer (or any trainer you connect with) should be able to give you a projected monthly amount, just note there are routine expenses such as shoes (every 5-8 weeks depending on the horse) and the potential for unexpected, and potentially, expensive expenses (i.e. horse gets injured or sick).
2. Market norm seems to be 15% sales commission. The % variation I have seen depends on: (1) if the horse is sold in barn (i.e. agent represents owner and seller), and (2) sale price; some trainers will have a different commission rate if horse is above a certain sale price. Whatever trainer you go to to sell will have a contract for the party to sign that outlines their commission and sales policy. It should be very clear.
3. Where the horse is physically located. Is the horse near a major city/airport? Is the horse near a major show facility? Maybe Texas users could share where some of the big shows are in TX? I’m not familiar with Texas shows. Will the horse be taken to shows to help market? My perception is horses that has high visibility i.e. located near a major show facility, actively and effectively marketed by trainer, goes to shows, and/or is located near a major city/airport sell quicker then say a horse that is not near a major city/airport/horse hub and does not attend any shows. If the horse is located away from major Tx horse hub or the estate is hesitant about spending money to take the horse to shows, then I would encourage them to look at sending the horse to a reputable sales barn.
4. How the horse is priced in relation to the market. I saw a fabulous horse that the owners wanted more than the trainer thought it was worth. It sat on the market for awhile, before the owners ultimately dropped the price and it sold. If it’s priced “competitively” based on its skill level, show record, age, etc. that will help it sell quicker.

[vxf111]

So sorry for your loss.