"Ask the Appraiser"
Please contact us if you have a specific inquiry.
Here are a few frequently asked questions concerning horse appraisals:
Q: What determines the value of my horse?
A: A horse's value is a combination of several qualities, including (but not limited to) its history and performance records, bloodlines, conformation, eye appeal, health and soundness, disposition, level of training, etc. Typically, the most predominant factor regarding a horse's value is how good he is at his/her "job." For instance, if you have a trail horse, its disposition will have an incredible impact on its value. On the other hand, if you have an experienced show horse, its show records will be the primary basis of its value.
Q: How does an appraiser decide what my horse's value is?
A: I conduct my appraisals similar to how a real estate appraiser would. An on-site inspection of the horse may be necessary. I collect information about the subject horse that will allow me to find comparable horses that have recently sold in a relative market.
Q: I need to determine the value of my horse for an issue that may go to court. Will an appraiser really help my case?
A: Certified equine appraisers are being used more commonly in courtrooms in the past several years. Whether for divorce cases, bankruptcy cases, lawsuits or tax audits, the appraisals I develop follow Uniform Standards of Professional Appraisal Practice (USPAP) guidelines and can be used in court as an unbiased professional opinion of value. I am also available for consultation or expert witness testimony.
Q: I need an appraisal on a horse that normally does not have any soundness issues. The horse just recently looks slightly off, but I don't think it is a major issue. Will this affect its value in the appraisal?
A: If there is any question as to the soundness of the animal, it is the client's responsibility to order the appropriate health and soundness inspection, at his/her expense, by a qualified veterinarian. The appraiser does not have the license nor expertise needed to make such inspections.
Q: What will the appraisal report cost?
A: The cost of the appraisal report will depend on several factors, including the scope of work, traveling fees, and time constraints. I offer three different types of appraisal reports, to be determined by the intended use of the appraisal (i.e. donation, divorce case, insurance claim, etc.). The most simple form of an appraisal is a "restricted use appraisal." A value for the horse will be provided in this report, but it will not hold up in court or for IRS purposes. The most common report I will use is a "summary appraisal," which provides more detail and can be used for IRS purposes. The "self-contained appraisal" report is the most highly developed report and is typically the best choice for an appraisal used for a case that may go to court. *Please contact us for a quote on your appraisal.
Q: Is it best to have the horse inspected before he arrives at his new location (i.e. the school or therapeutic riding center he is being donated to)?
A: I typically recommend a horse be inspected before traveling to a new location. In an unfortunate situation, the horse may injure himself on the trailer. I appraise the horse based on its condition the day it is inspected.
If your question was not answered above, please contact us directly at firstname.lastname@example.org or call 630-715-1768.
Photo courtesy of April Waltz Photography