05/14/2020
Friendly reminder when horse shopping:
*Note that this article is in reference to sporthorses. I understand that the costs and the market are greatly different across other horse sports and activities.*
LOW 5 FIGURES:
Very low 5 figures = $10-15k
Low 5 figures = $15-30k
Low-mid 5 figures = $30-40k
MID 5 FIGURES:
Mid 5 Figures: $40-60k
Upper-mid 5 Figures: $60-70k
UPPER 5 FIGURES:
$70-99k
As a general rule, a decent sporthorse for the average person is going to fall into one of these categories. If a horse is listed as mid-5 you can guess the horse is around $50k, give or take a little.
Please be realistic about what a decent horse is going to cost. Assume it cost the breeder about $10k to get a quality foal on the ground, inspected, and registered. We no longer live in the world where the old adage of “most riders don’t need a $35,000 horse, they need a $1,000 horse and $34,000 in lessons” is true. The average rider looking for a decent (yes, DECENT, not spectacular) horse is going to need to spend around $20k. That $20k horse is probably either quiet and safe for low-levels, or quality enough for upper level potential, but not both.
Yes, there are stories about the $500 thoroughbred competing in Rolex, or the auction horse bound for the slaughter competing at the National Horse Show, but that’s not the norm. Low-cost, high-quality horses sell fast. These great deals are usually reserved for professionals because they have the knowledge and instincts to see the diamond in the rough and move quickly. Horses listed publicly for sale that are priced well below market will usually sell within an hour, sight unseen, off the original ad. Many amateurs are not comfortable spending large sums of money so quickly and with such a risk.
The “in my (low) budget” horse that doesn’t sell immediately is the price he is for a reason. Sometimes those are reasons you can live with - maybe he is difficult to ride. Just be aware that if it seems like a great price for that horse AND you are looking at his ad, there is a reason. If it’s a true fire-sale situation for a perfect horse then he would already be sold - either to a trainer or friend, or immediately upon the publication of his sale ad. If you are lucky enough to find this deal know that others have seen it too and be ready to buy immediately, sight-unseen, without time to do a PPE or “think on it”. Since most are not comfortable buying under this pressure they will need to pay retail price.
Market drives price, but COST also drives price. If it costs a breeder $10,000 to produce a quality sporthorse foal, and (conservatively) $200/month to care for that foal, then they will have $17,000+ into the horse by the time it’s ready to be sent to a trainer as a 3-year-old. Trainers can range between $500-$1500/month. If you want show miles on that young prospect you’re looking at...$600/weekend times as much experience as you want on the horse. You want a made horse? $600/weekend x 30 shows = $18,000 (not including fuel costs, trainer fees, your time, or 4+ years of care, training, and incidentals).
Quality horses are expensive because that’s what it costs to make that horse. If the market could not support this then nobody would breed sporthorses. The argument is often made about 4-5 year old thoroughbreds coming off the track costing $2,000. Remember, an off-the-track thoroughbred is a racehorse repurposed for sport. They are not in themselves purpose-bred sporthorses. The cost to breed and produce them was driven by and (hopefully) recuperated back through their race earnings. They are bred on a gamble that they will greatly out-earn their cost. After they do not win they are sold quickly and at a low cost since horses that are not winning are expensive to keep. Some of them are incredible sporthorses none the less and I love a good throughbred as much as the next person. Regardless, if they were consistently as competitive as propose-bred sporthorses in the show ring, especially at the upper levels, then competitors would only be buying OTTBs and would have no reason to spend $17,000 raising a quality 3-year-old sporthorse. The courses built today are so technical, and the competition so steep, that generally only horses that have been bred to perform very specific jobs are capable of doing them and winning.
Please, next time you are in the market for your next partner, be realistic about what you will spend and what you will get in return. Be respectful of the owner’s time. If your budget is $20,000, make a list of what you want, what you need, and what you cannot live without. You are probably not going to find a 9-year-old winning, made, 3’ 6” eq gelding for $20,000. You may possibly find a 18-year-old schoolmaster looking to step down, or a 4-year-old prospect with potential. Your personal budget does not dictate the price of a horse. While many people cannot afford a $50,000 horse for their child to be competitive in the show ring it does not change the fact that most quality, easy, sane, and competitive horses go for this amount or higher.
Some additional items to remember when horse shopping:
Maintenance is normal. Many, especially less experienced shoppers will shy away from buying horses that require maintenance. However, if you are riding and competing moderately-heavily, you should already be doing at least baseline maintenance on your horse to keep him comfortable. Yes, injections, Adequan, etc. can be expensive but so is everything else in this sport.
Flexion tests during a PPE are not typically a good indicator of a horse’s soundness. Soundness is an indicator of soundness. Many new studies have been done regarding a horse’s flexion results in relation to near future soundness. A horse with moderately positive flexions and who is otherwise sound is no more likely to be unsound in the near future than a horse with negative flexions.
Horses are not machines, they are animals with individual personalities, qualities, and flaws. There is no such thing as a perfect horse and faults can be found in even the top horses in the world if you look for them. The true test is not finding the nicest horse in your budget, but to find the horse that suits your personality and makes you happy.
Brief follow-up:
https://www.facebook.com/1783021211968633/posts/2597010337236379/?d=n
