I've been lucky to be involved with multiple sale horses, but I have always just been the rider, never the owner picking up the expenses.
Without going into too much detail, I might have the possibility of a resale. I LOVE the horse, and she has some strong points and some weak points. I think it could work, but was wondering what are criteria that people (who do this on a more regular basis) find to be absolute musts?
I have a monthly cost analyzed and I realize each month I hold onto said horse I lose profit, but I'm also considering my time to be "free".
I doing this for fun for me and to find a deserving mare a good home, not the money, but would still like to know the criteria that makes for a successful resale, so I at least break even.
How is the current economy in the less than $12,000 market? What does $5,000 get you? (Location is helpful too!)
The less than $12000 market is pretty ugly right now. I am in zone 7 and currently have a 3' hunter priced at $6k with no takers (he's not the easiest ride, but pretty). I think if the horse is a true packer you should be okay or if the horse is very fancy. There's so much out there right now in the $5k-$10k price range that it can be very difficult making a horse really stick out (especially if its kind of average).
They absolutely *must* vet without issues.
They have to have a junior/amateur friendly temperment.
They must have a lead change.
They must be under 7-8 years old.
I only buy geldings, personally; there are quite a few people who won't look at a mare. (Yes, I know that lots of people love mares.) Just my own preference.
I am afraid I have no experience in the price range you mention, so can't offer much insight there. However, I will note that the group that has been hit hardest in the current economy is not the wealthy folks buying six figure horses; it's the middle class, and they are often the ones shopping in that bracket.
********** We move pretty fast for some rabid garden snails.
My fears were confirmed.
Not the best resale project, but she's one of *those* horses, a horse that I just can't get out of my head and fall in love with more and more each day. The try and heart that this horse has, along with athletic ability just surpasses my expectations everyday.
A largepart of my business is marketing the less expensive horse. The range I ahve seen hit the hardest is the $10 - $25K market. THe under $10K and particularly under $7500 market is still there BUT you need to have what everyone wants, and usually that is a gelding! Also quiet, easy something ammie or child friendly.
Member of both the Southern California and Michigan clique - currently residing in Grand Rapids, MI
My experience with resale horses is this. I've bought horses specifically as resale projects and gone "by the book," a specific type, look, height, and sex that I "know" is popular. And, it's gone okay. I've sold them fast, and never lost money (except for one very memorable one that did not vet, but someone gave me that one, so I'm not counting it). I have barely broken even a lot, and sometimes I've just flat out gotten lucky. However, the ones that I've bought for myself that were completely against "popular" type (e.g., they were small, chestnut, etc.) are the ones that people always end up wanting. And I'm always standing there with my head cocked, saying, "but this is MY horse. You don't sell horses like this, you ride them. I have a lovely tall bay gelding back at the barn you can try."
What I have learned about sale horses is this. If it is a horse that you can't live without, chances are other people will feel that way too.
I usually sell about three to five horses a year on average. This is the FIRST year I am not even thinking about picking up a re-sale project. I am too nervous about this economy. I don't believe we have even seen the worst of this yet. The real bummer about it is that if you surf some of the sales sites, the horses are so underpriced right now...you can get a greenie for a song...it would be fun to go look. My fear is the impact that has on the sales end right now.
We sold all 8 of ours last year in that price range (under 12k), and all within 3 months of purchasing them, and 2 more already this year.
It's not a difficult thing to do, the trick is making sure that you set yourself up to get lucky.
1) Make sure you like the horse. If you wouldn't mind being "stuck" with her, it's much more likely that she'll get sold. It's the ones you don't like to ride are the ones who never move.
2) Make sure that the horse is responsive. Make sure it stops, goes, and turns. Sounds simple, but you wouldn't believe how many people come out and marvel at how easy our horses are to ride. It's just basics, basics, basics, whether it's a $500 horse or a $50,000 horse. If the horse is easy to ride, people will enjoy them more, and make more allowances for things that are missing, like height, age, sex, color, etc.
3) Market. Seriously, trainers down here complain all the time that they can't sell anything, but when you ask where they advertise, they say only on their websites. Sorry, but I would never be silly enough to think that I'm so famous people are going to be looking at my site on a regular basis. Put the horse on any and all websites you can find, there are plenty of free ones out there, so it won't cost you an arm and a leg. If you google "Horses for Sale", and click on any link on the first page, our horses are there, which is why they sell so fast. People can't buy if they don't know about your horse.
The rest is just the more obvious stuff that you always hear.