Honestly? I overpaid hugely for both mine.
First one was a 5yo Polish Warmblood, paid £6500 (which would have been reasonable if dealer had been being truthful). Was very green, slightly out of control when jumping and a nightmare on the ground. I was only 14, fell in love with her the second I sat on her and didn’t know better. But she turned out to be worth every penny and more with a little bit of work.
Then there’s Henry (3/4 ID 1/4 TB). I paid £5500 for him in 2016 as a just turned 6yo. Was massively fat, unbalanced and had barely done anything. But I suppose I was paying for potential and looks (and to be fair, gorgeous breeding). They were very honest, and we all thought he’d get over the spookiness pretty quickly once he got out doing things (we were wrong 😂).
Knowing what I know now, I’d pay for the first one, but possibly wouldn’t pay that for Henry (he’s not totally useless, he does have a lot of good points!)