The Art of the Deal
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Trying, Buying, and Selling Horses at the World’s Largest Show
by Liz Arnold
Every October, the horse industry flocks to Columbus, Ohio for the All-American Quarter Horse Congress. World-class competition may be the number one draw for most exhibitors, but the opportunity to both market and shop for a new equine partner comes in a close second.
Buyers arrive with the impression that, with so many horses present, it will be an easy mission to find a mount to fit any number of needs. Sellers have the advantage of thousands of horse industry enthusiasts in one place, many ready and eager to purchase their next prospect. But the art of the equine deal is not always as simple as connecting horse and rider and exchanging papers. Buying and selling at such a large venue is often an overwhelming prospect and requires many considerations from all parties involved in the transaction.
Parting Ways
Charlie Cole of Highpoint Performance Horses in Pilot Point, Texas, believes Congress is a great place to locate new talent. Progress is the name of the game for the serious amateur or youth competitor. Cole says, “We always want to be better. When I’m looking for a new horse for a client, it’s probably because they have achieved their goals and are ready to create new ones. Or, a new rider may have noviced out and is ready for a horse that will be a step up. Maybe someone wants to specialize in one or two events.”
While it’s often the rider’s goals that necessitate a change, a horses’ age or behavior may make it necessary to move on. All-around trainer Bruce Walquist of Cleburne, Texas says that for many owners, “it’s often the case that the horse they have is getting older, or has soundness issues, or has developed bad habits in the show pen that can’t be resolved and it’s time for something new.”
Trying Things On For Size
“The Congress is really the Wal-Mart of horse shopping. It has the largest volume of any show and everyone brings something to sell,” Cole says. Pair the volume of horses with the fact that the year is coming to a close and many people are reassessing their goals and priorities. It’s the perfect environment to buy and sell. Despite the prevalence of advertisements filling walls, identifying the right horse to try can feel intimidating.
Wayne Davis specializes in futurity horses along with his wife, Judy, in Reddick, Florida. He says the hundreds of signs posted throughout the fairgrounds are a good place to start searching. He adds, “Trainers are very approachable. If you see a horse you like, don’t be afraid to talk to the trainer and ask about it.”
Prospective buyers attending the show with a trainer should take advantage of that individual’s connections, because word of mouth is the number one way the pros learn of horses for sale. A trainer is an excellent resource, because his/her trained eye is constantly on the lookout for horses. Along with talking to other trainers he trusts and respects, Walquist always has an eye out for the next great one. “A lot of times I’ll be riding and watching the warm-up pens for a horse that has the characteristics I’m looking for and does the events I want. If I like it enough, I’ll approach the trainer and ask if it’s for sale. That’s really the easiest way to start,” he says
For Cole, being at the top of the industry is a definite plus when it comes to buying and selling, but he too spends a lot of time watching the warm-up pens. “We are on most peoples’ radar and people know we are always looking. Oftentimes, we’ll arrive at the show with a few horses set up to try. But there is always something in the warm-up pen that catches my eye,” Cole says. He adds that people shouldn’t hesitate to browse the barns. “It’s not uncommon for people to walk in our barn and say, ‘Hey, this is what I’m looking for. Do you have anything that might fit?’”
For those attending the show solo, there are sale resources available. Ruth Ellen and The Horse Source, Inc. offer services aimed at matching a horse and rider and can aid in narrowing the selection while connecting buyers and sellers.
Horse Sale Etiquette
Because the majority of horses are at the Congress to show and not just to sell, it’s essential to consider the horse’s schedule. While there are no written rules for inquiring about and trying horses, most professionals would agree on waiting until after a horse has shown. For Cole, this comes down to respect for others’ goals. He says, “It’s up to the owner or agent to dictate when we try the horse, because even though the horse is for sale, it’s important to be respectful of what people are trying to get done.”
As a trainer who specializes in both Hunt Seat and Western Pleasure futurity horses, Dawn Baker of Sunbury, Ohio says show day is off the table when it comes to trying horses. “Typically, for me, show day is not a great time to try one. Some trainers will get a horse ready, show it, and then let someone try it out. I don’t feel people should try a horse on the day it shows, or even the day after, because it will be tired. You’re not as likely to see the horse at it’s best. If you know the day the horse will be showing, be there to watch it go, but give it a day of down time before you try it,” she says.
Prospective buyers may also want to consider the length and grueling nature of the Congress when planning to look at a horse. Baker notes that different qualities will be apparent at different points in the show. She says, “At the beginning of the Congress, horses will be more fresh and maybe not quite show-prepped, so I know I can see more of their authentic attitude.”
Conversely, Davis points out that looking at horses near the end of the show may not be the best timing. “If you look at a horse at the end of Congress, that horse is probably going to be a little grouchy.” As a seller, Davis believes in a common sense approach for timing appointments. He asks, “how much damage can a person do in fifteen minutes? If they do some damage, then that’s probably not the horse for them.”
First Rights of Refusal
With hundreds of horses for sale and hundreds of people looking to buy, it’s only natural that some crossover will exist with potential buyers. How should sellers handle multiple inquiries about their horse, and what should buyers expect in terms of first rights of refusal?
When dealing with Chuck Briggs of Azle, Texas, it’s a first come-first serve scenario. Briggs, who specializes in Hunt Seat events, likes to keep the process simple. He says, “They ask, they try it, and if they like the horse, they need to let me know right away that they want it. Someone else may come along tomorrow and like the horse just as well, and then it may be gone.”
To keep things fair, Walquist doesn’t believe in holding horses for anyone. “The first person with the check is the buyer. It’s hard to hold horses at the Congress. It’s different than at home where someone may be trying one and has a plane ticket. At Congress, you look at it, ride it, and vet it. If, after all that, you don’t buy, you run the risk of another person stepping up and doing it.” Davis agrees, saying, “I don’t believe in first rights of refusal. The first person who gives me the check will own the horse. It’s an old fashioned handshake approach, but it’s always worked for me.”
Baker believes in sticking to an order for interested buyers. She offers up a typical scenario, “Say you have three people interested in one horse. The first person we talk to rides the horse first, but we always tell them other people are interested. So, just because someone is extremely interested and approached us first, that doesn’t mean we won’t let other people ride the horse. That being said, even if person two likes the horse just as well as the first rider, we will always have the first option.”
Though Congress is almost a month long, many deals go down within very short time frames. “All of this has to work in a timely manner,” Baker says. “We won’t wait five days after a ride for a response. Most deals happen within twenty-four hours. This gives people time to go to dinner and discuss, but if we don’t have an answer the next day, it’s the next person’s turn.”
The Right Match
Since most sale decisions have to be made in quick fashion, making the choice to buy, or not to buy, can feel overwhelming. How do you know a horse is the right match after one brief ride? Davis believes that matching the horse’s talents to his rider’s abilities is the first, most critical, component to creating a new team. He urges buyers to, “find a horse that will match the rider’s experience. For example, for a novice, I make sure to buy one with self-carriage.” He says he’s constantly evaluating his clients’ abilities. “If it’s a horse that requires a lot of leg, I ask myself, can that person hold their leg and make it stand up?” In terms of protocol, he says, “Normally, my wife or I will ride it first. If we like it, we’ll put the customer on. I believe you will know in minutes. If the customer gets on, gets around, and the horse stays, then you know and usually the customer knows, too.”
Davis adds, “special considerations go into buying one for a select rider. A lot of these Western Pleasure horses have so much push that many select exhibitors have trouble riding them. The horse has to suit the person. Honestly, I’ll sacrifice movement for a good mind any day.” Finally, Davis says not to overlook eye appeal. “For me, it’s got to be pretty. I don’t care who’s judging, everyone likes a pretty one,” he says.
Asking the right questions and buying from programs you know and trust are a few of Walquist’s musts. He urges shoppers to, “be wise with who you buy from. I believe you run a risk of not getting what you want when you don’t know the training program. It’s important to ask who’s had the horse, who’s trained the horse and what the horse has done. Look at all that before you try.” Once those boxes have been ticked, he urges buyers to go in with a plan. “In your mind you have to know the three or four things that are most important for you. Maybe it’s movement, mind, and attitude. Whether it’s how the horse looks, or how many points it has, if the horse doesn’t fill your needs, look elsewhere.”
Instinct is the best route for Briggs. When trying horses for a client, “I go with my first instinct. If I have to make myself like a horse then I know it’s not going to work. It may be a great horse, but not a great horse for my customer or me.” Briggs also believes in trying the horse before his customer to rule out horses that may not work, and to save his customers time and effort. “I’ll ride it first and then I can tell if it will work for a customer. As a trainer, you know your customer and what will work for them,” he says.
Cole echoes the sentiments of others, adding that when it comes to identifying the right match, it’s all about instinct and feel. He says, “It should feel right and not be rushed. If it doesn’t feel right with the first ride, then maybe try a few others. It’s always good to have a few people to bounce ideas off of and help you talk things through. In the end, if it doesn’t feel right then it’s probably not the horse for you.”
Final Details
You’ve made it through the gauntlet that is finding a horse to buy at the Congress. But, arguably the most important factor in the horse deal equation lies ahead with the contract and vet check. With the pressure and short time frame most deals involve, handling contractual details can feel like an unnecessary step. But, failing to agree on the terms of a sale can mean misunderstandings and major headaches for both buyer and seller.
Since most horses will be showing before, after, or during a potential deal it’s natural for a prospective buyer to wonder how a horse’s performance may or may not influence the price. With that comes the question of winnings and awards. Again, communication comes through as the most essential aspect of any deal.
Most trainers agree that once a price has been quoted, it shouldn’t change according to the horse’s performance, be it good or bad. “I haven’t run into too many people changing prices based on performance,” Baker says. “It seems to me that the price is the price and then people negotiate.” In her opinion, so much about showing at the Congress is subjective, so prices don’t always reflect a horse’s talent or potential.
“Typically, if you’re looking at a horse that the owners believe has the talent to win, it will be priced high. But a lot of times the opposite happens and a high-priced horse doesn’t make the finals. Does that mean the horse isn’t still a high-dollar animal? Probably not, because one class can’t predict true talent,” Baker says.
Walquist says there are cases where the price may fluctuate. He said, “We knew someone who had a stallion place Reserve at the World Show and they raised the price. It was the owner’s prerogative. But, on the all-around horses, it really doesn’t factor in. Most of the time, if it’s a good horse, we already have them priced high, and it’s hard to go up in value just because they’ve won a class.”
He notes that many people will want different things, but honest communication about exactly what all parties require will prevent hard feelings. He adds, “with the futurities some people want to keep the horse in their name through the class. Others will want to negotiate on prize money. No matter the terms, you need to have it all down and the deal done before the horse goes in the pen. Don’t ever leave any gray areas.”
Along with deciding price and terms, commissions are necessary in most deals. For both the buyer and seller it’s important to know who gets what, especially when multiple agents can complicate deals. Briggs says it’s important to ask, up front, what the seller expects. He says, “Be sure you’re clear what’s going on. Don’t be afraid to ask if a quoted price includes commission, who will be paid what, and whether or not a commission will be added on top of the price.”
When it comes time to have the horse checked by a veterinarian, all trainers agree that there is no shortage of reputable vets on the show grounds. Davis says that along with temperament, movement, and looks, it’s important to know your expectations concerning a horse’s soundness. “Remember that no horse is perfect. It all comes down to what you can live with. For example, I don’t mind injecting a hock, but I’ll be funny about the front feet.” He believes buyers are in excellent hands with any of the Congress veterinarians, but that a check-in with their vet at home is also a smart choice. “The best vets in the world are at the Congress. It’s easy to get in with them the same day, or the next at the latest. I tell people to take their opinions and then send photos to their vet at home. Remember that he’s the one that’s going to keep the horse sound. Above all, ask the questions that matter to you.”
Respect, honesty, communication, instinct. Each of these qualities proves necessary to successfully navigating the Congress horse market. With good help and advice, a keen eye, and perhaps a little luck it’s possible to leave the Congress with a deal under your belt and either money in your pocket or a horse in the trailer.
