Part four of this series is about pricing. This one is a bit tricky, and typically everyone’s least favorite part of the process. There are so many things that can influence the price of a horse from breeding to competition history to potential, from the economy as a whole to the actual location of the market you’re selling in. It’s highly subjective, and often times the number one thing that stops a sale from happening. But if you can price your horse accurately, along with the other pieces of this puzzle being in place, quick sales can and do happen quite often.

When it does stop a sale from happening, it’s almost always because the price is too high based on the presentation of the horse (pictures, videos, misrepresented, etc.), as well as the other outside influences listed above. Like I mentioned in an earlier post, no one is gonna pay $50K+ for a Frankenhorse.

That said, it’s also one of the easiest things to get right if you work with a professional who knows the market, knows what horses are selling for, and knows how to price your horse to sell quickly. This is one of the most challenging things I have to discuss with sellers though. Everyone wants to get the most money they can, sure. And as an agent, it’s in my best interest to do so as well since I’m getting a commission. But it’s also in my best interest as a professional to make sure you’re not stuck paying several thousands of dollars more in board and training over the next 6 months just to get a couple thousand more on the sales price. That goes directly to my reputation as a seller’s agent, and I take it seriously.

Contrary to popular belief, I (and I’m guessing the hundreds of other trainers who sell horses, though I can’t truly speak for them) do not want to keep your horse there for those extra 6 months to get the board and training money out of you. Why? Because then you go and tell all your friends that I couldn’t get your horse sold, and they should send theirs somewhere else to sell. I want your horse to sell quickly, at a good price, so you go and tell all your friends that they should send their horses to me to be sold. But if you demand $50K for your Frankenhorse when the market will only pay $40K max, then it’s going to be hanging out for a while until that one buyer out of 10 million comes along who is willing to pay that price, or until the value of the horse increases. And in the meantime, you’ve spent an additional $15K on board, training, farrier, vets, shows, etc.

When you place a horse with a professional to sell, part of their job is to price the horse, based on all the other factors, in a place where visits start to happen almost immediately, offers start coming in within a few weeks, and the horse is sold ideally within 90 days. Less time is better, but that’s the max. If you’re not getting that, then your horse is likely overpriced and/or undermarketed. So then you need to ask yourself which it is. If your sales agent has been suggesting you drop the price, that may be the next step. If it’s a problem of being undermarketed, meaning the videos, pictures, etc are either not good enough quality or simply aren’t being distributed strongly enough to generate interest (ad distribution is coming up in the next post), then it may be time to find someone else to sell your horse.