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Average cost for equine appraisals +recommendations?

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  • Average cost for equine appraisals +recommendations?

    Basically what the title says! I recently donated a horse to a non profit riding program and need an appraisal for tax purposes as his value is over $5,000. I have contacted a few appraisers but all of them referred me to one in particular who seemed very competent but fairly pricey...he quoted me $800-$1,000 for an appraisal. Is this in the ballpark for a certified appraiser? Also does anyone have any recommendations for an appraiser? Thanks in advance!

  • #2
    Originally posted by Halfbroke View Post
    Basically what the title says! I recently donated a horse to a non profit riding program and need an appraisal for tax purposes as his value is over $5,000. I have contacted a few appraisers but all of them referred me to one in particular who seemed very competent but fairly pricey...he quoted me $800-$1,000 for an appraisal. Is this in the ballpark for a certified appraiser? Also does anyone have any recommendations for an appraiser? Thanks in advance!
    Wow... IIRC, last I looked, you can go through the whole certification process and become an appraiser for just around that much.

    The guy we have here charges around $150-200 depending on travel.

    Comment


    • #3
      I had to use a certified appraiser when I donated a horse. The cost was somewhere between $300-500.00. Sorry I don't remember the exact figure as it was a number of years ago and I'm old. It was worth it as the horse's value was up in the low 5 figures.

      A few months after my tax return, the IRS required me to send them a copy of the appraisal inspite of listing the appraiser's contact info and certification. Nothing further was required.

      The woman I used was very professional, timely and did a great job for me, but she's too far away from you.
      Lost in the Land of the Know It Alls

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      • #4
        When I did appraisals, there was a pretty wide range. For some simple jobs (e.g., donations such as the OP describes, estimate for insurance purposes), I usually charged in the $300-500 range. I rarely traveled for my work, but when I did, that expense was factored into my bid.

        For more complex work (e.g., appraisals for divorce settlements or investment purposes), I would charge $1000-3000, depending on the specific situation.

        Some appraisers tend to work with higher-end clients and price accordingly. Those that also have law or higher finance degrees will charge more. Those with many years of experience and great respect within their field will charge more.

        Regardless, you need to expect to cough up a bit of coin for an adequate appraisal by a competent professional. If the value is challenged, it is the appraiser's name on the line; s/he will have to be able to document logically and clearly why s/he arrived at that particular number.

        ETA: Given your location, OP, I think I know who you may have been referred to; he is VERY good and is among the higher-priced ag/equine appraisers in the U.S.
        Equinox Equine Massage

        In the depth of winter, I finally learned that there was in me invincible summer.
        -Albert Camus

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        • #5
          I had one done maybe 4 or so years ago in the Kentucky area; was charged $400 plus travel.
          We don't get less brave; we get a bigger sense of self-preservation........

          Comment

          • Original Poster

            #6
            Thanks for the replies I appreciate it! I was definitely expecting to pay $300-$500 for an appraisal so I'm glad to know that my expectations are in line.

            Coloredhorse- if you are thinking of the same person I talked to I definitely got that impression from him and I think he would be well worth it if I was going to be able to take a large deduction, but sadly that will not be the case!

            Any recommendations of names would still be much appreciated!

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            • #7
              Everybody and their dog seems to have hung their sign out there to do equine appraisals. The problem is, finding someone who is competent, thorough and does a proper appraisal. I cringe hearing there are appraisals in the $100 range and also cringe regarding ones in the $1,000+ range (meaning a simple valuation for one horse).

              Many people who are attempting to do appraisals out there have little to no credentials behind them and nothing to back them up. As a result, I've been hired quite a bit to argue poor appraisals done by someone else or hired to give a second opinion.

              It's important to find an appraiser that is knowledgeable in the breed you need appraised and the discipline. For more serious appraisals like divorce settlements, lawsuits, etc., it's even more important to chose an appraiser with experience and credentials.

              Just my two cents!

              Daventry Equine Appraisal Services
              www.EquineAppraisers.com
              Last edited by Daventry; Jan. 31, 2012, 06:32 PM.
              www.DaventryEquestrian.com
              Home of Oldenburg, Westphalian & RPSI approved pony stallion Goldhills Brandysnap
              Also home to Daventry Equine Appraisals & Equine Expert Witness www.EquineAppraisers.com

              Comment


              • #8
                Originally posted by coloredhorse View Post
                ETA: Given your location, OP, I think I know who you may have been referred to; he is VERY good and is among the higher-priced ag/equine appraisers in the U.S.
                It depends which one you are talking about. If it's one located further south, it would not be my recommendation at all...despite the dog & pony show persona put out there to the general public, the accuracy of the appraisals have caused a few clients to raise concerns with the ASEA. Now, if it was just a simple valuation for insurance purposes, etc., you are likely OK. But for something more important like a divorce settlement, contract disputes, etc., I think the horse owner would be much better off finding someone more competent.

                FYI, it should be a HUGE warning sign if an Equine Appraiser is willing to do an appraisal site unseen for scenarios involving court cases, etc. and tells you they don't need to see the horse in person. You might as well just throw away your money. Most courts will not put any merit on an appraisal in which the horse was not seen in person. So, for example, if you are involved in a divorce dispute and your husband hires an appraiser who just looked at photographs and the show record, etc. of the horse and the wife hires an appraiser who actually came and did an on-site inspection of the horse, it is likely the husband's appraisal will be thrown out of court..and all that money he spent on the fancy, expensive appraisal will go down the drain. Ask me how I know?

                Daventry Equine Appraisal Services
                www.EquineAppraisers.com
                www.DaventryEquestrian.com
                Home of Oldenburg, Westphalian & RPSI approved pony stallion Goldhills Brandysnap
                Also home to Daventry Equine Appraisals & Equine Expert Witness www.EquineAppraisers.com

                Comment

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