When you need to sell a horse ASAP..
then you take the low offer and cut your losses!
Yes it sucks, yes you "lose" money but it is better than the alternative.
It still amazes me that when I was horse shopping, sellers were so unwilling to negotiate, even when their ad said "best offer," or "negotiable to great home," or "must sell asap." Yet when I offered them a lesser price, they hung up the phone so to speak.
Guess what, this is now a year later and some of those horses are STILL in the market!!! I can tell you that it has cost you waaaay more to feed them for a year than it would have had to make a deal with a willing buyer. By the way, some of these had issues that popped up during PPEs, hence the lesser offer.
Unless you have a huge ranch with tons of grass and the horse is only costing you a few $100's a year, take the offer, or at least be willing to negotiate and meet in the middle. Keep the lines of communications open with potential buyers. Maybe you were "offended" by the offer, but it might sound pretty good 1 or 2 months from now. Don't be afraid to call buyers back and ask if they are still looking. Maybe they are, maybe they have found the horse of their dreams in the meantime.
A friend told me I was delusional. I almost fell off my unicorn.
Probably won't like this answer but I couldn't give away a sound, good moving scopey jumper, auto change 16h TB local show and eventing miles,good temperament not bomb proof, needed maybe intermediate rider, did have questionable xrays but no injury, or history of lameness in 4 years off the track. We are free leasing the horse in the barn and everyone is happy, to his kid be is priceless but he is a hard sell. People give away horses just like your horse every day.
FWIW, I just sold one for about 30% of what I had into it - didn't want to feed/clothe/shoe it for the winter, or assume the risk of it getting injured and vet bill$. Also, wanted that spot for another horse that was more suitable for my program.
It is the cost of owning them, I view any "profit" as simply making up all the other ones I have lost money on. As an amateur owner, I do not expect to ever break even.
You never know what kind of obsessive compulsive crazy person you are until another person imitates your behaviour at a three-day. --Gry2Yng
Not sure where you are located, but this is a great time to sell a foxhunter or foxhunter prospect. So if you can get him out hunting and he behaves, he could be sold very quickly.
Also, there are sales people who have websites and will post your horse and bring you potential buyers. Then you're not sending him out to a sales barn and paying 1/2 his value per month just to have him there.
As for time of year. One of the biggest months for horse buying tends to be November. Not sure why, as it seems like it'd be the very worst. It may be because people think they can find the best bargains in the late fall.
As others have said, it is not uncommon to spend far more on a horse than it is worth on the market. I'd chalk this experience up to Life 101 and the "feed lease" is your tuition. We all have paid this kind of tuition, believe me. Personally, I think the OP is lucky that she is not the owner and can walk away now.
Agreed! If I had the money that I lost on every horse and pony I purchased in the past, I'd have one really, really nice pony in their place.
When I buy a pony now, my motto is "how much money can I afford to lose"......and that is based on the purchase price, not even counting the other investments once it is mine. LOL
Hate to be another voice of take it as a lesson that it won't always work out, but it happens. I buy a few a year to sell. Some I make money on, some I brake even with all of their expenses, and some I just cut my losses before it gets to deep. I use to buy lots of different kids of horses for resale, but now I won't buy one that has soundness issues that are known of any kind, ugly legs (windpuffs aren't a huge deal on one I think will pack a kid or adult around, but do make me think twice), poor mover, or bad personality.
So far this year I have turned down 8 free horses, took 2 out of the 8. This is one of them http://i297.photobucket.com/albums/m...g/foxyoxer.jpg When she came she needed some reschool as she went with her head star gazing and was nervous on her lead changes, I got her in March and in August we were 3'6 Modified Jumper Divison Champion at a B show.
I have also purchased 3 horses this year as resale. One is a pony who was doing trails and now is doing SS and packing kids around courses, schooling BN XC, went to a CT and got 2nd, and has been jumped around 3' courses and has the scope to do 3'6.
The other two were two half sister Haflingers who were unbroke 3 year olds. One of them I sold in 60 days after she was going w/t/c for enough to cover the expences on both her and her sister plus their purchase price. The other I still have since she has proven to be so useful for a lesson pony, the 5 year old rides her in the lessons and even bareback. She is now being offered for sale, but priced high enough that it makes it worth my while if she sells.
So sorry, to make a long story short in this market you need to be careful what you buy to resell as people are extra picky, and with the hay situation most places (ours has went up $30 a round bale since summer!!) people are dropping prices or giving away. The ones that are holding firm are the ones who don't NEED to sell.
So ... do I understand that the owner has no carrying costs - no costs of ongoing care? You are paying?
In that case, the owner may not care how long before the horse sells. If they wait a year for an offer that may or may not be coming, they aren't out anything, you are. Is the owner at least covering the vet bills? I am among those who doesn't know exactly what "feed lease" means in this case.
Who is in a hurry - you or the owner? If the owner has final say, you need to both have the same incentives. Otherwise maybe it's time to return the horse and the bills to the owner. If the horse is for "quick sale" you won't be riding much longer anyway.
Is the real question about a quick sale, or about who pays the bills, and for how long?
Cut your losses, send the horse back where it came from and go on.
You will not make you money back.
This, especially the longer you wait and the more money you put into it. I can pick up tb's with the same training, younger, with no previous injuries, who are fancier than your guy off CL right now, in this area, starting at $400. I've seen many going in the $800-2000 range.
You can pick up a broke, kid friendly, show proven one for $3500ish.
We are selling a proven, shown, 2nd level fancy, easy wb gelding who is bombproof on the trails and anyone can ride for only 1k more than what you are asking for this guy. I think in this area and market, you are really asking a lot for what you have.
Also, the video on the current CL add definitely does not show him at his best. I know you said you are working on getting new videos - I would consider paying a pro to ride him for the videos. I would absolutely not pay 3k in this market for what I see in the video, and I think that is a lot of the problem that you are running into.
Like others have said, count your blessings that this isn't YOUR horse, think of the bills you have paid so far as a lesson, cut your losses and walk away.
It's not having what you want, it's wanting what you've got.