What is a Bill of Sale? It is a written statement attesting to the transfer (sale) of goods, possessions, or a business to a buyer. When purchasing a horse, it should accompany, or be part of an agreement, which states the agreed upon terms of sale, including the PRICE and COMMISSION!
Would you leave the price and commission out of the agreement when you purchase your home or real estate? Then why would you leave it out of the purchase or sale of your horse? You work hard for your money and you make solid decisions as an adult everyday in work and in your personal life, so why would you feel like you cannot question or speak up when your trainer or broker tells you not to have the price or commission in the Bill of Sale and Agreement, or leaves it out when they prepare it? After all, you are paying them a commission to find you an appropriate horse for you at an appropriate price, or they are assisting you in selling your horse. Monies involved in the sell and purchase should be included in the terms, because if its not, your trainer/broker may be taking more of your money because it is not stated in the Bill of Sale.
Speak up! It’s your money and is or will be your horse! The trainer/broker may not want you to have the Price and Commission in the Bill of Sale because what the horse is selling for may not be the same price it is being bought for! That’s right! Seller thinks he is selling horse for $30,000 and paying his trainer a 10% commission. Buyer thinks he is purchasing the horse for $70,000 and paying his trainer a 10% commission. By not stating the selling price and commissions in the Bill of Sale, these trainer/brokers could be taking in $50,000 in profits. Now there may be some other unknown trainer/broker(s) that your broker has to pay, but this is how it works without the transparency.
Now think of this, the two people who are going to be responsible for the sell and purchase of this horse, will not know what the actual sell and purchase price is or the commissions paid on both ends if it is not so stated in the Bill of Sale. It’s ok to say NO! Guess what, there are tens of thousands of horses out there and hundreds of trainers who want to be transparent and look after the best interest of their client. If you are not with one of them, put the pen down and walk away!
Bridget R. Brandon is Founder and Principal of ValueMyHorse LLC, a full service equine appraisal, expert witness, consulting and marketing firm. Bridget is a life member of the American Society of Equine Appraisers and has been qualified as an expert. She has been breeding, boarding and showing Sporthorses for over 25 years. She has served as an expert for both the plaintiff and defendant side and has been hired by insurance companies such as Zurich, Liberty Mutual, Farmers, Safeco, and many others on cases involving death, fraud, accidents, breeding, equine business, buying and selling, behavior, standards in the industry, divorces, estates and much more. She also provides appraisals for donations, loans and insurance values. Bridget is a graduate of Southern Methodist University and also works as a marketing executive.