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Originally Posted by Bold Brooklynite
Let's face it ... there is no known value or price for any race horse ... one man's million-dollar horse is another man's nag.
How can anyone say, "The horse was only worth $100,000 ... but I paid $200,000"? Hey ... the horse may really be worth nothing ... or millions. A yearling may never get to the races ... or he could be a champion. A broodmare may be barren ... or she may drop five SWs. A champion race horse can go to stud and be Coaltown (0 SWs from 160 foals) ... or Bold Ruler (24% SWs).
The price of anything ... horses, cars, cigarettes, or toothpaste ... is what you're willing to pay for it ... and what someone else is willing to sell it for.
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This is true but that should only factor as an opinion when the buyer is spending his OWN money and not an agent spending someone else's money....If you are an agent bidding on a horse for a client, it is your responsibility IMO to value that horse pre-sale based on your opinion and then try to buy him for that price....If that number in your mind is $100,000 and he brings $90,000 - then great....Now, if that number is $300,000 and you actually spend that much for him - then that is a HUGE injustice to your client IMO and it makes you look like a jackass too....