Instructions
Find four recent comparable horse sales. Search online for sales reports in your area such as the one listed in the resources section. Otherwise, ask about comparable sales from other members of your equine community. Comparable sales are of horses similar to your own. For example, if you're appraising a halter horse, the sale of a jumping horse isn't a comparable sale. Compare horses similar in age, breed and gender.
Contact the new owners of the comparable horses and ask to see the horse for the purpose of an appraisal of your own horse. Alternatively, obtain pictures of the horse for your appraisal but recognize the potential for inaccurate results.
Rank the confirmation of your own horse and the comparable horses on a scale of 1 to 10 with 1 as the lowest and 10 as the highest. Rank each of these elements: head, neck, shoulder, heart-girth/withers, loin, hip and croup, forearm and gaskin muscles, legs and feet, balance and eye appeal, breed character, performance record, soundness, pedigree, temperament and movement. An example of a 10 score on the head is an attractive head with well-proportioned ears and large eyes.
Add the confirmation scores of the comparables. Add the total dollar value of the comparable horse sales and divide it by the confirmation score total to get the net-dollar-value-per-point. Multiple your horse's confirmation score by the net-dollar-value-per-point and round it up to the nearest $100 for the appraised value of your horse.
How to Appraise Horses
The American Society of Equine Appraisers, or ASEA, teaches an appraisal method similar to real estate appraisers. Appraisers select comparable horses, or "comps," and rank them on a scale of 1 to 10 on their confirmation. Horses in poor body condition won't score as well on an appraisal. Body condition, or the amount of fat stored on the horse, changes the appearance of the horse. For example, on a thin horse, the withers, shoulders and neck are accentuated out of proportion; on a fat horse, they lack strong definition.