Equine appraisers are trained to value a horse’s worth. Many factors are involved in valuing horses, including breed, lineage, health, show records and awards. Testimonials to the horse’s character, health and potential performance from owners, trainers, judges, breeders and veterinarians who are familiar with the horse are also taken into consideration when appraising a horse. A qualified appraiser must know identifying characteristics of different breeds and disciplines of horses, have a thorough understanding of the appraisal business, and follow USPAP Standards (Uniform Standards of Professional Appraisal Practices).
There are hundreds of breeds and disciplines. No one appraiser can be an expert in all of the breeds and disciplines. Chose an appraiser that is an expert in your breed and area of discipline.
ValueMyHorse specializes in warmbloods, warmblood crosses and thoroughbreds for use as a hunter/jumper, combined training, dressage and for breeding.
We use comparatives, or “comps,” in our appraisals. We utilize the same methodology real estate appraisers use to determine the value of real property and is a method the American Society of Equine Appraisers teaches.
We compare similar horses using a grid that scores each horse from 1 to 10.
To get a dollar-value-per- point, we add up all the sales prices on the comparables and divide that number by the total number of points the comparables scored. We then multiply the number of points a horse scored by the dollar-value-per-point which provides a good rough estimate of what the horse is worth.
There are some subjective elements that come into play that can create a swing of 5% either way. Those areas may include conformation, age bias, athletic ability, vices, training, location, and so on.