The Reality of Buying Horses: Expensive Lessons and Difficult Decisions

By Fran Robinson

One of the questions we're asked most often is, "Where do you find your horses?" Closely followed by, "Why are good horses so expensive?"

The truth is that buying horses has never been easy, and in recent years it has become even more challenging. Whether you're looking for a future event horse, a grassroots all-rounder or a potential young horse with talent, there is always an element of risk. No matter how experienced you are, there are no guarantees in horse buying.

From the outside, it can sometimes seem as though professionals have a secret formula. In reality, we're all trying to make the best decisions we can with the information available at the time.

The Appeal of Buying Young

Many people are drawn to buying young horses from sales. On paper, it can seem like the perfect solution. You can often purchase a horse for significantly less than an older, established one, and there is the exciting possibility of developing them yourself.

When it works, it can be incredibly rewarding.

However, buying young also comes with significant unknowns. A three-year-old may look athletic, move well and have an excellent pedigree, but nobody can guarantee how they will cope with training, whether they will stay sound or whether they will have the temperament required for their future job.

Young horses are much like investments. Some exceed expectations, some develop exactly as hoped, and others simply don't progress in the way you anticipated. That isn't necessarily because anyone has done anything wrong. It is just the nature of working with young animals.

For every success story, there are horses that require longer to mature, have unexpected veterinary issues or ultimately prove unsuitable for the job they were purchased to do.

The Sales Ring Gamble

Horse sales can offer fantastic opportunities, but they can also be one of the biggest gambling environments in the equestrian world.

You usually have limited time to assess a horse. Often, you are making decisions based on a short viewing, a brief veterinary inspection and your own instincts. You're buying potential rather than certainty.

Even experienced producers make mistakes.

We've purchased horses we absolutely believed in that went on to achieve very little. Equally, we've bought horses with very few expectations that have exceeded anything we initially imagined.

That's horses.

Paying More for Proven Horses

At the other end of the spectrum is buying from established breeders and professional producers.

The initial price tag can often cause buyers to hesitate. A horse that has already been professionally produced, backed correctly, educated well and proven its ability can cost significantly more than a youngster bought from a sale.

But what you're paying for is not simply the horse.

You're paying for years of feeding, farriery, veterinary care, training, competition entries, transport, staff time and expertise. You're paying for someone else having taken many of the risks on your behalf.

While there is still no guarantee, there are usually fewer unknowns. You can assess the horse's temperament, rideability, competition record and overall development with much greater confidence.

Cheap Horses Are Often Not Cheap

One of the biggest misconceptions in the horse world is that buying the cheapest horse saves money.

In reality, the purchase price is often only a small portion of the total cost of ownership.

A horse that initially appears to be a bargain can quickly become expensive if it requires significant retraining, has underlying veterinary problems or proves unsuitable for its intended purpose.

Sometimes spending more at the outset can save considerable expense, frustration and heartache further down the line.

There Are No Guarantees

One of the most important lessons we've learned over the years is that horses are not machines.

A five-stage vetting doesn't guarantee future soundness. A successful competition record doesn't guarantee future success. A good pedigree doesn't guarantee talent.

Likewise, a horse with a less-than-perfect start in life can go on to become exceptional.

Every purchase involves balancing risk and reward. The key is understanding which risks you're comfortable taking and being realistic about your goals, budget and experience.

Finding the Right Horse

The best horse is not necessarily the most expensive, the most fashionable or the most talented.

The best horse is the one that suits its rider.

Temperament, rideability, trainability and compatibility are often far more important than an impressive breeding page or competition record.

A horse that gives its rider confidence and enjoyment will almost always be a better investment than a more talented horse that creates stress and anxiety.

Our Philosophy

At Stead Eventing, we are always honest with clients about the realities of horse buying. Whether sourcing young stock, producing future event horses or helping riders find suitable partners, we believe in taking a long-term view.

There are opportunities at every level of the market, but there are also risks at every level.

The challenge is not finding a perfect horse, because they don't exist. The challenge is finding the horse whose strengths, weaknesses and potential are the right fit for the person sitting on top.

And sometimes, that's the hardest part of all.

About the Author

Fran Robinson is part of the team at Stead Eventing, specialising in the production of young horses and event horses. With experience sourcing, backing and developing horses from a wide range of backgrounds, Fran understands first-hand the rewards and realities of finding the right horse for the right rider.