How Can I Increase My Horse's Value?
One question we sometimes get from clients is, "How can I increase my horse's value?" While there are a lot of different factors that play into the horse appraisal process and valuation, here are some of the most important factors our horse appraisers look at when determining a horse's Fair Market Value (FMV):
Training: The number one most influential factor in a horse's valuation is training. Horses that are well-trained can perform a variety of maneuvers, generally have exposure to many different types of environments, and have the tools to excel in a specific discipline or multiple disciplines. Horses with extensive training are almost always more valuable than horses with limited training when all other factors are equal (age, breeding, etc.). Additionally, horses with training from known/reputable trainers with successful track records are far more valuable than horses with training from lesser known trainers.
Competition Record: Once a horse has received enough training, competition is the next step in increasing your horse's value. By demonstrating the horse's skillset in a competitive environment and placing competitively in rated competition, a horse's value is tested and proven against comparable animals. The higher the rating of the show, the more competitors in a class, and the higher the horse's placing, the more the horse's value will increase.
Health, Care, and Appearance: A healthy horse with proper nutrition and care can maintain its physical and mental condition and increase its value. Regular veterinary check-ups, a balanced diet, and exercise are essential to keep your horse in good health. Horse's with proper care and nutrition will reflect this in the body condition and grooming, often a factor that will tip the scales in their value over other comparable horses that are not in good physical condition.
Marketing: When applicable, marketing can help to bolster a horse's reputation and value. This usually comes into play for horses that are in competition. Consider hiring an Equine Photographer and taking out advertisements in industry publications to increase your horse's reputation and, consequently, value.
Though there are many ways to increase a horse's value, we found that most factors fall under the above umbrellas. If you need assistance in increases your horse's value, Stier Horse Appraisals consultations can help establish where your horse falls on the Fair Market Value range, and help give you direction on how to increase their valuation.