Selling horse woes

I

I love my Spanish horse

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Hi all, thanks in advance for any help and advice received.
I bought my current horse approx 9 months ago, he's a real sweetheart but in all honesty I over horsed myself in terms of my ability and the time and commitment needed for a youngster. He's never done anything horrendous with me but a series of unfortunate events resulting in me gradually losing confidence in him and I decided the best for both of us would be to find him someone with more time and experience to do him justice.
Anyway as my confidence was at an all time low and I had zero time to work him as it was let alone conduct viewings I decided it would be best if my trainer took him in for sales livery to get the best price possible for him. I don't know this trainer that well tbh but a lot of people on my yard do and she's brought my boy on a long way in a short time so clearly knows her stuff!
Anyway on to the relevant stuff! we were asking £10k for him, dropped from £12k originally as I think we overpriced him. We've had very little interest in the 5 weeks he's been advertised and today's was the first viewing. They seem really keen but don't want to pay more than £7.5k for him as although he has potential they think he needs more work to be worth asking price. My trainer is horrified and thinks they're taking the proverbial, that they wouldn't have driven so far if didn't have the money and are just trying there luck, they want to try him again at some point but she's not keen. Problem I'm up against is although that's less than I was hoping, (and about half what I paid) that he's costing me around £600 pcm in training, and with no other major interest if it goes another couple of months without a sale I've negated any extra money in just keeping him!
I would post a link to the ad but don't have him advertised through here so don't think it's allowed. Trainer thinks £10k is about right though and I do trust her judgement, prob is the market seems pretty dead at the moment and holding off for closer to the asking price could end up costing more on long run. It's a gamble I guess but Also my car went bang the other day and may be a complete write of so that money is quite appealing right now, it's also a really perfect home and lovely people which I always said was no 1 priority. Any advice much appreciated, I've yet to speak to trainer properly about it but she's made feelings fairly clear already!
 
I have been on both sides, selling liveries and my own as well as helping clients purchase horses and usually if you get a firm offer it is worth taking in what is a tricky market, unless the horse is costing very little to keep and or is doing something that is going to increase the value within a month or two in which case it may be worth holding out for more.
I have occasionally advised owners to hold out for the full price, and it has nearly always gone wrong and ended up with them getting less money with the livery taken into account, your trainer is going to win whatever the outcome and I think she is incorrect in her advice unless she has a plan B that will generate more interest at over £10k within 2 months, I guess he is an Iberian which will limit the market and most people looking specifically for the type will have seen the ad, the longer he is not sold means the less interest there will be unless something changes to make him more attractive.

I would let them come back if the home is right and take the offer if no more can be squeezed out of them, they will know what he is worth to them, they will also probably have a good idea why he is at a trainers yard which gives them some bargaining power, sell and move on.
 
Wise words from Be Positive.
If you have had little interest and now have a firm offer Id be inclined to seriously consider it
 
In the absence of any other serious interest you are faced with the reality that the offer represents the market value today and if you do not have any particular reason to refuse that.......then sell.
 
Another who agrees with bepositive.
I know a loss of a couple of thousand pounds is not to be sniffed at but as you've not had a lot of interest so far, as you point out livery is expensive, Spanish horse will be a niche market and you say yourself home is more important than price, then I'd be inclined to sell.
Cut your losses, not more outgoings or worry! You'll soon recoup your losses just by not paying livery costs for a few months!
 
How does his price compare with other similar horses on the market?

Dropping the price by £4,500 from what you originally thought he was worth and is half what you paid is quite a big price drop and you are paying a lot in training fees which should be increasing his value rather than decreasing it {has he got deskilled or his behaviour deteriorated since you purchased him 9 months ago or has the bottom dropped in the market since you purchased him?}. However you are not getting any pleasure from owning him so really the sooner he is gone to a good home the better and like others have said the livery and training fees can soon mount up.

Maybe suggest they come back to view him again by which time if your trainer is any good the horse should have improved more and if they like him suggest they make a slightly better offer and go from there.
 
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I had a horse on sales livery and sold him from less than half of what I paid. Similar scenario, I was over horsed.

If he is at 10k, and they offer 7.5K. Id invite them back for a second viewing, and meet them in the middle with £8750.
 
When I bought my youngster, who wasn't cheap either, I was advised that the value can go down as well as up. Mine hasn't been out doing young horse classes etc., so realistically is probably worth less now in terms of money than he was as a just backed 3yo when I bought him. Doesn't matter to me, as I have no interest in selling him, but if I had to do so, I fear I would be taking a loss. Unless your trainer is taking him out and creating an impressive competition record, you are probably in a similar position by the sound of it. Unfortunate, but I agree with others, you're probably best to cut your losses.
 
I'd be tempted to arrange a second viewing and try and talk them up to 8k so you're making a it less of a loss. If theirs is the only offer on the table and you could do with the money then you've not all that much room for negotiation but worth a shot at trying to get them to raise the offer a little as they've knocked a large chunk off the asking price there and will surely be expecting you to try and negotiate a little at least
 
He is only worth what people are willing to pay, he is costing you £600 per month and it is the first offer? I would tell them they can have him for the 7.5k if they pick him up by next Sunday.
The trainer is earning money whilst he is with them but the biggest thing here for me is you are gaining no pleasure from ownership, you admit he has not done much for 9 months, you could hold out for more oney and he ends up staying with trainer for another 3-4 months and you end up cutting the price anyway.
Drop the price, let him go to a good home and get shopping for a more suitable replacement.
 
twiggy2 said:
He is only worth what people are willing to pay, he is costing you £600 per month and it is the first offer? I would tell them they can have him for the 7.5k if they pick him up by next Sunday.
The trainer is earning money whilst he is with them but the biggest thing here for me is you are gaining no pleasure from ownership, you admit he has not done much for 9 months, you could hold out for more oney and he ends up staying with trainer for another 3-4 months and you end up cutting the price anyway.
Drop the price, let him go to a good home and get shopping for a more suitable replacement.
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I've just done this with H. Granted he's not a youngster and was worth nowhere near the sort of money you're talking but I accepted an offer of half what I was asking (and a lot less than I paid) as he was costing me around £800 a month with livery and schooling. I figured I'd rather he go to a good home where he'll be well loved than keep holding on in the hope someone would offer asking price all the while paying livery for a horse I was getting no enjoyment from.
 
I would also be on the side of cutting my losses. If the horse gets a terrible injury in a couple of months time you'll have spent a fortune and got nothing to show for it.

I would try and talk them up but I'm afraid, what you paid, doesn't mean that's what he's worth. I've bought a couple of horses at half what they were advertised at and I got a bargain with one (price was negotiated before I went to view and she was a lot better than I had anticipated!) and the other I was pretty generous considering the issues she had, however there was no competition or other interest in the first, while the second had a cash buyer waiting in the carpark behind me to buy her if I didn't!
 
I would get them back for a second viewing, don't let yourself be pinned down to the price before they come but tell them you're open to dealing. Before they come get some good arguments as to why the price should be higher, like you paid more as she's a top quality horse etc. Also find examples of others like her and what they're selling for, plus is she rare, perhaps hard to find.

Get them to ride and enjoy her and all the rest and then tell them you'll split the difference with them, bringing the price to £8750, then they'll bargain you down to £8500. Try and get that, otherwise you may have to take the £7500.

You are in the unfortunate position that this horse is costing you a considerable amount so you don't have the luxury of waiting it out. Six weeks is not that long to be selling but it is long when it's costing you big livery fees. Ignore the trainer, she has a vested interest in keeping the horse and do what you have to.
 
If £7500 is their first offer chances are that they expect to negotiate and meet somewhere in the middle. I would probably go back and say you're willing to negotiate a bit but can't go that low so invite them to come and try again and see if they can make a better offer. It's not clear how long you have been advertising at £10k do this may have found you a new market of viewers if most of the 5 weeks he was advertised at 12. The £2.5k you're knocking off the asking price would buy another 4 months of your schooling livery (and get you into summer) so if you think 10k is a fair price (not a best price for perfect purchaser) then I would be tempted to hang on for a bit longer. It is a gamble though.
 
7500 for a youngster with potential who is too much for a nervous rider, when you're having to pay fees, I'd probably take it but see if buyers would go up to 8500 and meet at 8000 personally, they are probably wanting to negotiate. depends on the youngster and if you paid much more for him etc.
 
Could it be that the trainer wants/needs the income of having him there?
When it boils down to it he's your horse and therefore it's up to you.
If you are not enjoying him then cut your losses and move on.
 
These days you can put advertisements up quite quickly, so I'd drop the price a bit and inform the people who have already offered that you've done so and will be dropping the price still further if he remains unsold. Thank them for their offer, say you hope they'll understand. Be absolutely honest and straight forward in the advert and make it clear that you are open to offers. A kind of dutch auction if you like. Advertise as widely as possible without spending a fortune, include good photos and videos and say if they want more to please ask. You only need one good buyer.
 
I know someone who bought an expensive young horse for their daughter, it didn't work out at home so they sent it to be sold, six months later it was still there.
I think you also have to be clear with the trainer, that it is there to be sold and you need to get X for it, by Y. If they want you to reject the offer they should be prepared to waive your fees and take them out of the higher sale price, if and when its sold.
 
The problem is the trainer has a conflict of interest - keeping the horse there for longer and selling for more is obviously going to be in their financial interest, so although you can listen to their advice you should certainly not rely on it.
 
You need to do the maths and work out what this horse will cost if it doesn't sell and offset that against the loss you are making on the capital sum you paid for it. The trainer will be enjoying the income while it lasts and I would try to ignore their opinion re price. I also think the horse would be happier settled in a new home with someone who really wants it. Good luck.
 
I agree that the trainer has a vested interest in the matter so is not a good person to take advice on price from. Might be best to take the money and run.
 
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