Since retiring Foster, I’ve put in offers on four different horses. The financial decision that goes along with purchasing a horse is a big one, and I may have a way that is different from others in regards to making an offer on a horse.
When I first go see a horse, I am as much assessing the horse for its value as well as for it being a good fit. Just like when shopping for a house, the horse should feel right, but if you can’t afford it, you’re wasting everyone’s time- including your own.
With that in mind, if I see a horse that is slightly above budget, I like to reach out and contact the seller. I respectfully (and that is key!) share my interest, describe what I am looking for and mention my budget. Sometimes the response is “sorry, the price is firm at X”, but most times I’m told to come see the horse anyways and we can go from there. To me, being on the same page about realistic expectations for payment is key- I don’t want to waste the seller’s time if I can’t possibly afford the price they want, and I certainly don’t want to waste my time either. So far, sellers have been appreciative of a more candid discussion about this up front, and I appreciate not being toyed with as a buyer.
So far for me, the pre-purchase side of things has been more of a pass/fail type scenario. Having agreed to a price, the assumption is that barring any surprises in the exam, that is the price I pay. If the vet finds something awry with the horse, we can of course have a discussion about how that could affect the price, but typically for me it’s more of a decision about whether or not I can accept the horse as-is altogether as a suitable partner.
Price can be a sensitive issue when horse shopping. I try to be cognitive of the time, emotions, and finances the seller has put into the horse, but prefer to be frank with both the seller and myself about what investment I’m willing to put into the horse as well. There have been several times in my search that a seller values their horse as solid first/second/third level when the training is obviously not there, or that the horse is described as an upper level prospect when the conformation or ability simply isn’t present, and I choose to not engage these sellers as a rule. Let someone else be the bearer of bad news, or let the market speak for itself when that horse doesn’t spark interest at the price they are asking.
Luckily, in general the folks that I work with when I go to see a prospect are familiar with the process of buying and selling and are not offended by someone talking money before the deal is done, or even before someone has sat on their animal. But I’d love to know- what are your experiences with this? Do you have strong opinions about the money-aspect of buying horses? Do you plan to pay full price, or how did you evaluate the horse you currently own before bringing him home?