What's Your Horse Worth?
In "What's Your Horse Worth?" (September 2006, Horse & Rider magazine) professional equine appraiser Michelle Stallings explains how she determines a horse's fair market value. She uses comparatives, or "comps," a method real estate appraisers use to determine the value of real property and a method the American Society of Equine Appraisers teaches.
Here's an example of a chart Michelle might use to evaluate a halter horse and determine its value by comparing it with four similar horses. Want to try it for your horse? The grid scores each horse from 1 to 10 on every value factor.
"To get a dollar-value-per-point," Michelle explains, "add up all the sales prices on the comparables and divide that number by the total number of points the comparables scored. Multiply the number of points your horse scored by the dollar-value-per-point and you have a good rough estimate of what your horse is worth.
"Despite the fact that this method sounds complicated, it's really pretty simple once you get the hang of it!" she says.
Horse & Rider's Appraisal Chart
(If you have trouble opening the PDF file, we can fax you a copy. Email your name and fax number to equineeditor@equinetwork.com.)
Michelle and her husband, Ronny, another equine appraiser, own American Equine Services and Stallings Ranch in Aubrey, Texas, where they have trained, bred, and shown champion Paint and Quarter Horses for more than 30 years. Michelle specializes in preparing tax returns for horse-related businesses, developing appraisal reports, and assisting attorneys with litigation issues. She also provides expert witness testimony in court and consults on issues for all breeds of horses.
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