How to Buy a Horse at an Auction

Buying a horse at an auction is a bit of a grab bag, because rarely do you get a chance to really find out much about a horse before you buy.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Breed-specific Magazines
• Local Horse Magazines
• National Horse Magazines
• Veterinarian

1. Find an auction listed in a local, regional, national or breed-specific horse magazine.
2. Know that many large horse shows have sales attached to them. All horse sales are auctions, since a single asking price is never put on a horse.
3. Realize that many large ranches have sales as well, which are also advertised in horse magazines.
4. Get to the auction early - days early if possible. Find out when the sale horses will arrive.
5. Study the bloodlines and information provided about the horse. Most sales will provide a list of bloodlines and minimal information about the horse.
6. Select a number of horses that appear to meet your needs, and concentrate on those.
7. Bring a veterinarian. If you can arrange to bring a vet to look over the horses, you'll be that much ahead of the game. If a vet is not available, ask your trainer.
8. Watch the horse move. If the horse is old enough, ask the owner to ride him so you can watch him work. If you're very lucky, the owner will let you ride him.
9. Spend time with the horse. Get to know his personality.
10. Decide how much you're willing to spend on the horse.
11. Avoid bidding at the beginning of the sale. Let everyone else bid; don't bid up the price. Wait until bidding slows down and then make your move.
12. Have a check ready for the initial deposit, usually 10 percent of the purchase price, including the sales commission, which is typically 10 percent.

Tips & Warnings

• Very few sales will vet the horses (have a veterinarian look at them) or check for soundness or even the most minimal physical ailments.
• If your vet or trainer accompanies you, you'll most likely have to pay them for their time.
• Realize that once you buy a horse, there's usually no recourse against the seller or the auction company if you later find something wrong with the horse.