Understanding Horse Prices

Not at all - go for it. :slight_smile:

Where on the east coast? I’ve seen a bunch of good ones in the 7-11k range in the last few months up here in central New England, but I suspect here vs. the mid-Atlantic states vs. Florida are all kinda different. Definitely some “fire sale” vibes coming from a few sales barns.

I think in the long haul the rising costs of everything are going to drive prices up, but at the moment I think they’re causing sales and driving prices down.

3 Likes

Really? Where are you finding them? I’m in New England myself.

I’m going to tangent off from @Zevida 's post & ask if your trainer routinely finds horses for clients?
If so, then could the nonexistent commission - if you buy from the owner directly - be part of the Nope from trainer?

I’m asking because I don’t know your trainer, your length of time working with this trainer or (most important) your trust in trainer’s honesty.
Having firsthand knowledge (granted, many, many years ago) of commission-driven sales that did not have buyer’s best interests at heart.
Call me sceptical :woman_shrugging:

3 Likes

The old standbys of dreamhorse.com and equinenow.com still get a lot of horses posted and maybe moreso than they used to. (Equinenow seems to have fewer but higher-quality listings, while dreamhorse is every damn thing. That said lots of horses seem to go up on some niche specialty site and then get posted to dreamhorse for more visibility.) Also bigeq.com isn’t all $100k-and-up, a friend found me an $11k horse there who I adore and would have bought if he was a little bigger.

On facebook, “North American Warmblood Horse Connection” is super-active, and also public, as so many of the horses-for sale groups aren’t. There’s another facebook group called something like Massachusetts Horses & Ponies For Sale that’s private, and I think many states have one. (Note that I’m not on facebook but I had somebody keeping an eye out for me.)

The horse I ended up with was found via a personal connection but was also posted on Dreamhorse. The personal connection probably put me at the head of the line to try her out, though.

There’s no substitute for grinding through the ads every single day. After a while of reading ads I starting getting a sense for who the overly-optimistic horse flippers were, and if not ignoring them at least taking their ads with a larger grain of salt. The other part of it was staying on top of things and moving fast when I saw a good one. There seem to be fewer people buying sight-unseen at least, but early in my search I was seeing nice horses posted in the morning and sold by nightfall.

It’s all such a pain in the ass. If I was doing it all over again I might just go to New Holland and take my chances. That said I’m really happy with the horse I ended up with.

3 Likes

went to go see one last weekend. Nice horse, but for a horse that had been consistently w/ some of our local BNT’s in the western world there were some large gaps in her training. (no lead change, didn’t rate well, didn’t like contact, no show record ) on the flip side, she could have cared less about things like snow coming off the roof.

They wanted 25K for her. Talked to the owner, she agreed to half that w/ a 30d trial so I could lesson with her a couple of times w/ my trainer & a little time to see if she didn’t do some of those things because she hadn’t been taught, or because she wasn’t capable.

Owner calls me back a couple days later & says she had contracted at the beginning of the month w/ some local horse trader to sell the horse & he told her horse was worth way more than I offered, if she was going to accept that offer, should be a done deal, no trial, & they would do a prepurchase w/ their vet.

I told her no. She also has a short time frame to get the horse sold. I feel like she is getting some pretty bad advice from someone who has a vested interest in getting more money, & who also has not ridden the horse. (she was going to take her there, but he gave here all sorts of excuses & recommended that she take her to a local girl w/ a nice facility that is a lovely rider, but not a trainer). but that’s her call. We’ll see what happens. Mind you, said horse was also supposedly being marketed by the BNT for the 6m prior to this & only one other person came to look at her, w/o making any kind of offer…

2 Likes

I think people tend to judge prices of lots of things (not just horses) based on what they grew up with or were used to in the past, and they have a hard time adjusting their expectations for inflation or changes in the market. I recently had a funny conversation with a coworker who was offended at the current price of a toll road because it used to cost just 25 cents. Then he realized that “used to” in his mind meant “in the 80’s”—which is now 30-40 years ago!

From that perspective, I could kind of understand your trainer thinking a horse is overpriced based on what she’s been used to in the past, or thinking you “should” be able to get what you want for four figures (which isn’t the same as saying you “can” get that in reality). However, if she’s going to be giving clients advice she should make an effort to adjust her expectations to the current reality.

6 Likes

I had a very long conversation with a friend, who was unhappy at a barn (as was I when I rode there) who felt that paying anything more than $50 for a riding lesson was too expensive. After a verbal PowerPoint presentation about rising costs, she’s now paying a bit more but very happy with a new barn, instruction, and care of the horses. She’s about 20 years older than me, and just couldn’t wrap her head around paying more.

Rising costs have a snowball effect, especially in the horse industry. Input costs go up, rents go up, labor goes up, and so forth…

5 Likes

Thanks again, everyone, for your input! I’m pretty new to COTH, so I’m not sure how to quote people and stuff yet, lol

But I think you bring up fair points. My trainer is new to me. She does do some buying/selling, and I don’t think she is out for commission, but I think maybe our priorities are ever so slightly different. I think she would like me to be on a horse who is well versed in what I’m asking him to do so that I can focus on me.
While that does sound lovely-- I want calm and a good brain more than anything else. I came to her after I sold my last horse, who was not calm and was green and it was just a bad experience, so I don’t think she fully realizes that I just want a steady eddy, even if that means I need to learn some things alongside him. Her critique of the one I’m seeing this weekend is that he seems like a lesson horse… which to me sounds great!

6 Likes

This sounds similar to my friend who is shopping - I don’t think trainers understand that amateurs are willing to pay a premium for a horse with the right temperament that is SAFE. So yeah, maybe it is overpriced for it’s level of training or quality but if it’s a level-headed horse that won’t spook, buck, or rear, who is friendly and lovable that’s worth a lot. Most of us ammies have one horse and we want to feel safe, have fun, and have a horse we enjoy. A trainer may be fine with a horse that pins its ears and snubs you - I want a horse that pricks its ears and snuggles with me.

8 Likes

I think that goes both ways - prices tend to rise over time true, but people also get stuck w/ I sold a horse like this one last year for $$$$, now a year later when the market is not so hot, same horse is not going to sell for $$$$

6 Likes

I don’t think that part of the world has changed, I’ve seen deals like that within the last year. I absolutely ran into people selling horses who were offended that I was even asking about details and who seemed to think that all negotiation should be trainer-to-trainer, each presumably working as an agent for the buyer/seller. (Or, in an imperfect world, themselves.)

I’m really happy to have a trainer to whom I pay time+mileage (with no other direct financial interest) to come see horses that I’m serious about. I was expected to make arrangements and often had a test ride myself first, although there’s a long-running group text thread between myself, my riding buddy, and two trainers where we share links to various horses for sale and debate their merits.

3 Likes

I like my new(ish) trainer a lot, and hopefully it doesn’t come off like I’m trashing her in anyway. I think she’s brilliant and has a lot of knowledge. I was just surprised to hear her initial take because I think I’ve grown to accept that I can’t have it all at my $$$

She’s tagged me in a few horses so far, that I’d be interested in if they were closer.

I will never understand the lunacy that is todays horse prices. As long as there are enough people overpaying consistently for horses who are in actuality, worth a lot less, the seller is going to price their horse accordingly.

4 Likes

People who believe horses are overpriced currently are woefully out of touch with the current industry and economic realities. Horses are commanding prices that reflect the fact that breeding numbers tanked 15 years ago and have never recovered. Lower supply + higher demand = higher prices. There is no reason to believe that prices will fall substantially anytime soon. Any increase in breeding numbers that happens today won’t be felt in the performance horse market for at least 5-7 years.

24 Likes

The market is insane, particularly in horse dense areas. I have a friend’s OTTB hanging out at my farm for a few months because I had the space and the extra time to swing a leg over a cute prospect a few days a week. Mare is a very respectable mover, BIG (17.1 and decently boned), with one of the best brains I’ve encountered in a long time, but she raced for about 18 months from 2.5-4 and then has been a broodmare for the past 4 years. My friend expects to get between 5K and 8.5K for her by April and there’s a small part of me who thinks she’s UNDERPRICED for the Ocala market (the mare will 100% hold her own at A shows with some polish). It’s absolutely wild.

4 Likes

I would call that way underpriced, as in she should double or triple what she’s asking. At that low a price people will think there’s something wrong with her.

Just saw a 16 year old Morgan gelding advertised, has been a lesson horse, advanced beginner safe, trail rides, cute as a button but too big for a pony card at 14.3 hands. $15K. If I had money for a second horse, I’d be hauling a** out to Wisconsin to try him.

4 Likes

I 100% agree with you.
The cost of horses is finally rising to meet the cost of breeding, caring for and training them.
When I started in my discipline 10 years ago you could buy a nice gelding or mare to begin your career on and “dip your feet in” for around 10k. The horse would have had a show record and been comfortable packing a greenie around. It would have had an auto change and been sound but might need maintenance like Adequan.
Today that same horse (if you can find it) is 25-30k….just to try out the discipline.
I’m not saying it’s 100% right but it’s definitely more accurate to spend 25-30 on that type than 10.
The cost to make a sound and confident packer that can still be competitive is certainly not 10k.
To me, this market is saving breeders.

6 Likes

Four years ago I bought an 11 y/o, 15 hand grade gelding for $7500.00. No show record, but a nice little horse and a cute mover. At that time I thought the price was a bit steep but that was really typical market price for that type of horse at the time. I am mainly a trail rider who dabbles in dressage. No show aspirations - I just want a nice horse that is pleasant to ride and trustworthy.

Last spring I sadly lost this horse unexpectedly. When I started horse shopping last summer I was shocked to find that my budget of $8,000.00 to 10,000.00 wasn’t going to cut it. I ended up with a really lovely 8 y/o gelding that is a bit bigger (15.2 h), with a fancier color and an exceptionally good brain. He has a bit less training than my previous horse but is a solid and safe ride and is willing to learn. This horse is still grade, with no show record. I ended up in the range of double the price of my horse from 4 years ago, and I’ve had several people who have offered to buy this horse from me at a very nice profit. The sticker shock was rough, but this particular horse is worth every penny. Still, horse shopping right now is not for the faint of heart - or pocketbook.

I’m sure it’s possible to find horses at a more reasonable price, but it’s sure not easy. Also, I’m 64, and I really wanted to buy a horse from a reputable seller (ended up getting this horse from a friend of a friend) and was willing to pay more for an exceptionally good brain (cuz I’m not getting any younger and don’t bounce well).

12 Likes

They are not overpriced if people are paying the prices. I hate this line of thinking. :woman_facepalming:

13 Likes