The horse market, like the housing market, has been wild lately, with horses being bought sight unseen for thousands more than the asking price. Many sellers can't keep enough equine inventory to satisfy the current need.
It's been nearly two decades since amateur rider Tracy Gould horse shopped, she wrote in a recent column for the Chronicle of the Horse. In the 2000s, it wasn't unusual for horses to go out on two-week trials or to find a plethora of horses for sale under $5,000 – specifically retired racehorses.
Now, green horses –including OTTBs — are being sold without trials and horses are selling on social media platforms within days of being posted. Gold writes she doesn't need anything fancy, but she does want a horse that could do a little bit of everything, especially as her daughter grows up and hopefully begins riding. She's reluctant to buy anything without the ability to test ride and see if they “click.”
Gold hypothesizes that the horse market is being driven by the meteoric rise in people taking riding lessons since the COVID-19 pandemic hit: kids began taking riding lessons as their team sports and indoor activities were cancelled, and it's easy to social distance while riding outside. Additionally, the stock market is booming, allowing even non-wealthy families the ability to afford horses, and many people are either working remotely or have moved away from the city, allowing them more access to horses and lessons.
As people return to in-person work schedules and schools, Gold wonders if it's possible the market may cool off. Still, most people in the business of selling OTTBs will tell you that day hasn't arrived yet.
Read more at the Chronicle of the Horse.
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