Profit from sales

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xspiralx

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So I was pondering a matter today. For those of you who've had horses bought for you, or partially paid for by somebody else, like your parents, what happened when you sold the horse - getting a new one, going to uni whatever. Did you get the money for it, did they get the money for it, or what happened?

In my case, my parents paid for around half of each horse I bought. When I sold one, basically my mum got back the original amount she'd put in, plus a little extra, as did I but I got the majority of the profit, because it'd been my work putting extra value on the horse. IMO that is the fairest option.

Did anyone else have something different - ie. get to keep the full amount themselves, or have it all go to the parent?
 
Oh, your post sounds selfish! Sure its not meant to be!

Your mum has done what many parents have done, give most to your child. Dont ask or question, just accept that your parents want to give you what they can!!! And say a BIG thank you!! Im sure you have!!
 
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Oh, your post sounds selfish!

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HOW?!
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Spiral said "IMO that is the fairest option" about her situation, how is that selfish?
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I bought and paid for the keep of all of the ponies that our children had use of. When the ponies were sold, I kept the money however any child who helped during the sale of the pony was given a sum of money from the proceeds. If they didn't help then they didn't get anything.

Megan makes fairly decent money from me when I am selling horses as I alway like to show the horses with a child rider on their back aswell as myself.
 
WTF??

How is my post selfish?

I just explained my situation - I am very grateful for all the help my parents have given me both financially and timewise over the years, and they know it. I have always been expected to work to keep my horses, and we split the cost 50/50 which I am very thankful for as I could not have afforded it alone.

When it comes to profit though, I don't think it is unfair for me to have it, as it has been my hours improving the horse - and if my parents had disagreed they would have said so?
 
But who paid the livery, vet bills etc? If it was you then fair enough, but if it was your parents then you should just count yourself lucky to have such generous ones.
 
My mum bought all of my ponies for me until I could buy my own and she kept all the money from them. I was quite desperate to pay for my own horse as she would always threaten to sell itif I didn't pass this exam or do what she wanted etc. So at 16 I bought Guinness for £250.
 
When I sold my mare not so long ago I made a lot of money on her to what I paid for her, As I was getting another horse We agreed I would put the money to that. But my horse was bought for a birthday and christmas present so I see no need to give any money back as It was a present. It may sound selfish.

But If I didnt get another horse after the mare I had, then yeah I would have kept the profit, As It was me that did all the work, paid livery, paid for shows, I paid for everything I did. And got her the way she was, no help from parents, I had a job to pay for it all.
 
My parents bought all our ponies starting at £100 for a 11.2hh and any profit as they always went up in value was then used to purchase the next one. If my sister kept my pony/horse then her ponies money was used to purchase mine.
My OH paid for my current horse and the agreement is he gets back what he paid for the horse plus 50% of the profit.
 
my pony was a birthday present and will never be sold however my horse whom my dad paid for when i sell him i will keep the profit because i have done all of the work with him.
 
I am rather cross that I am being called selfish actually. I could go on and on about how grateful I am to my mum for helping me out and letting me live my dream, however its not at all relevant for this post. FYI I AM extremely grateful as I said so above but our agreement suited us - believe me I am not a spoilt brat.

As for your question, I split half the costs of everything with my mum, and I paid for extras like boots or shows if it wasn't something essential. My horses were on DIY livery, and I looked after them except for the odd time if I couldn't get down the yard.
 
As a parent, I wonder if our teenage daughters realise that the original cost of the horse is hardly even relevant next to years of livery, lessons, equipment, vets fees, dentists, farriers, physio/chiros, feed, supplements... payback time will be when they have teenage daughters of their own who want their own horses.

What would I rather have done with the money? Have a holiday home in Cornwall. But I'm grateful for the positive things owning a horse has done for my daughter.

We have generally lost money on our horses, they are hardly an investment and have a habit of breaking themselves in the field and elsewhere.

If we make any profit on the present one, it will go towards Uni fees - another parental burden.
 
Gosh, I'd never even thought of that question. Just naturally assumed that any profit made from a horse bought by a parent and financially kept by the parent would automatically be the parents money!!! More than likely this would be put towards the next horse etc.

If however horse purchase and and keep was split 50/50 etween parent and child then surely the profit should be split 50/50?
 
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If however horse purchase and and keep was split 50/50 etween parent and child then surely the profit should be split 50/50?

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I don't think so. As you know caring for a horse is about more than money, its about a lot of time. I put the time in, so the profit was mine - which my mum agreed to and if she'd thought that was unfair she would have said - believe me!
I very much appreciate their financial input - but they helped pay for it as a hobby, just as they pay for my sister's violin and piano lessons and "orchestral tours" - which they get no financial profit out of either. Neither does my sister, but then she doesn't work to pay for her lessons or very expensive violin either!
 
My mum buys the horses and pays for their keep, I break/school/compete them to increase their value and she keeps the profit. But my parents do support me through uni by paying my tuition fees and giving me a bit extra when I'm not expecting it, and I really enjoy bringing on the young horses, so there's no complaints about her keeping the money!
 
To be honest, doesn't bother me either way!

But did your parents have to drive you to and from the stables at all? What if you had a huge unexpected bill come in? would you have been able to do it without their help at all?

I'm not trying to be argumentative. And I am not saying you don't appreciate what you have been given or that you don't deserve to keep a higher proportion of the profit. I just find it very sad when a child has oppertunities given to them and a fantastic hobby and yet they see all the fun they have had riding as 'work' for which they are entitled to financial gain.

(and it's not a dig at you spiral, just a general observation)
 
I occasionally got lifts to and from the stables, but most of the time I walked from school [got picked up later], or cycled, or later on I had a moped which I drove. They did help me out when I needed it, and I do see it as a privilege - not a right. Infact I think they were fantastic because although they enabled me to live my dream, I had to work for it, I didn't get it handed to me on a plate.

My parents saw it as fair that I kept the profit - because they knew it would go towards sensible things. It is in a savings acc. atm for me to learn to drive with. I guess I feel that its not much different to having my lessons paid for by my parents anyway, except that I have the satisfaction of knowing that it was my effort that got the extra. I certainly didn't set out to make a profit, it was a perk to get a couple hundred extra than I paid.
 
So where does that leave people who loan horses? They pay for all the outgoings, put work into the horse....sometimes for the owner to take the horse back and sell for a nice little profit....
 
My Grandad paid for my first pony, with the money he left me when he died. My Mum paid all bills but it was technically a joint ownership. The money from the sale of my pony went straight into a savings account and then became the money for my horse. I also paid £1000 towards my horse, and I look after her and contribute as much as possible towards bills, but Mum mostly pays everything ongoing. I don't think I would ever sell a horse then not buy another, so the money would always go back into another horse, but if I did then I think I would try to split the money between me and my Mum but I don't think she'd take it!
Difficult situation really, personally I think I would split 50/50 but then if I were you I'd discuss it with my parents.
 
Good point Tia... before I bought Grace it was written in the agreement that if she was to be sold, any additional value added to Grace would be split between me and her owner. However, I bought her so that is all void now.
 
My Dad has bought my two horses as gifts... and he paid for Hannah to be put in foal too last year as a birthday present. I could never thank him enough for everything he has done, and continues to do with me. But if I sold any of the horses I would give all the money to him. After all, if that money was in a bank it would be making interest.

However, I don't intend on selling any of them, so it will never be an issue.
 
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Difficult situation really, personally I think I would split 50/50 but then if I were you I'd discuss it with my parents.

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Well its hardly relevant, I sold my last horse in September.

However because of this thread I went and talked to my mum about it, and she said that she thought it was a perfectly fair arrangement as she'd always had a bit of a bonus out of it but it was my work that made the horse worth a bit more money. She also said she was very proud of me for working as hard as I did in order to keep my horses, and that it had taught me a lot because I didn't just get everything handed to me, I always had to work for it.
 
well as im only 16, mum and dad buy my horses. however, when we sell them, they go towards other horses, or kept in the "horse bank", for things like rugs, boots..etc. However im very greatful, as i dont have a real job yet so dont earn enough money to pay for hay/straw/food/shows etc, so am extreamly greatfull towards my mum and dad, however mum and dad said that they dont mind, it is their life and they dont know what they would do if i decided to quit riding!
 
Parents always bought horses and ponies and paid for their keep / equipment / comptitions etc. The money from all sales and some went into new purchases (so I never saw any of the money and this was never discussed or questioned by me!). This was until my present horse who they bought and keep but they have said that she belongs to me and if she is sold, all the money (including purchase sum) will be mine - it is irrelevant, I will never sell her!!

I am about to get another horse - but due to other things I will only keep it for one year and then sell it, then be horse-less for a year or two (want to travel etc) and then buy another which will be a keeper.

Horse one to be kept for one year - parents are giving me the money to buy it, I will keep it both financially and care wise, when I sell it I will keep the money minus the purchase price which will go back to the rents.

Horse 2, the keeper - parents will buy the horse for me, it will be mine and I will not owe them for it.
 
My parents have always bought the horses and got the profit. As I'm just turned 18, it is their right! They pay for everything so..
But latest project I put around 50 in(payment for doing sisters horse) so hoping to get same percentage out!
 
I honestly can't believe anyone REALLY makes any money out of selling a horse. I think what you need to do is keep proper accounts on who pays for what, and when the horse is sold, add up everything that has been spent, work out who has spent which percentage, and any profit should be split in that proportion. By all means add a "schooling" percentage, however, if you get the pleasure of competing, then perhaps the schooling part should not be included.
 
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