Risks in Horse Buying
What could possibly go wrong? Actually, a lot.
Here is an overview of common pitfalls in horse buying:
Secret Profits at Your Expense
- Agents may act in their own best interest
- Secret profits are taken through kickbacks and other methods
- The industry has a long history of operating this way
- Horse trainers may be subject to pressure and retribution from peers
- Do you value your money? Use Equine Exchange to insist on keeping your horse purchase above the table.
- Top professionals insist upon Equine Exchange
Having a professional assist you in the purchase of a horse is the only way to go unless you are highly experienced yourself, but you should be aware that agents may act in their own best interests rather than their clients’, taking advantage of their “insider” information and the highly subjective pricing of horses.
Secret profits are taken through collusion or “dual agency” – taking a kickback from the Seller or Seller’s Agent, “shearing” the sale – inflating the price of a horse in order to take a cut out of funds paid by the client, or through other undisclosed conflicts of interest. There are many ways to skin a cat, but the result is the same: one or more parties induce the Buyer into paying a higher price than necessary to buy a horse, and personally profit.
These problems persist despite the illegality of such practices. Even honest professionals can succumb to the temptation of easy money; those who object may suffer retribution and personal financial loss.
Without Equine Exchange, you’re vulnerable. With Equine Exchange, you can rest assured that you’ve taken all possible steps to reduce your personal and financial risks in purchasing a horse.
Through Equine Exchange, you’ll insist on transparency, with all parties at the table, and promises backed by legally binding contracts. The purchase price for the horse must be paid directly by Buyer to Seller, and Buyer and Seller each pay their agent directly and separately.
Insufficient / or Misleading Information From Seller
- It is easy to forget the details – you can relax when using Equine Exchange
- Peace of mind is priceless. Why take uncalculated risks?
- Equine Exchange handles everything for you, providing confirmed answers to everything you need to know about your prospective horse
When buying a horse, there are a ton of questions that need to be answered. During this exciting time, it’s easy for even an experienced equestrian to forget to ask specific questions about the horse’s history, experience, behavior, temperament, and health history.
Equine Exchange makes this process foolproof by handling it for you. The Seller will complete the Horse Profile™ providing answers to everything you need to know in writing with confirmation of the truthfulness of the information. With Equine Exchange there will be no surprises.
Insufficient / or Misleading Vet Check
- Vet exams give rise to disputes if the horse develops health problems after you buy it
- Guidance on how to find a qualified vet with an independent, unbiased opinion
- Complete guidance through all stages of the Vet Check™
- All veterinary records and assessments uploaded to Equine Exchange
The vet check often gives rise to disputes should a horse develop health issues after purchase. The Equine Exchange Guide to the Vet Check™ provides clear and concise advice about the vet check process. We explain how to find a qualified vet in the area that can provide an independent, unbiased opinion – with no conflict of interest, the importance of direct communication between you and the veterinarian, what services are considered standard, premium or exceptional, what additional diagnostics may be necessary in the event of an abnormal finding, etc.
By uploading your horse’s vet check record to Equine Exchange, you will have a baseline health assessment that all the parties can agree upon. With Equine Exchange, you can easily share the record with the other parties to the transaction to discuss issues or share with other vets to get a second opinion. Equine Exchange provides a clear record of what information was shared and discussed concerning the vet check.
Disagreements / or Misunderstandings With The Seller
- Get it in writing!
- Disputes arise from undocumented or lack of clear expectations and allocation of responsibilities during the sale process and horse trial
- A single dispute can easily cost you thousands of dollars to settle
- Equine Exchange makes sure you have covered your bases with the Seller, so that a dispute is highly unlikely
We can’t say it enough, the old adage “Get it in writing” is of paramount importance. Without doing so, questions often arise as to the relative responsibilities of you and the Seller during the evaluation and sale process. This is especially true if you’re permitted to take the horse into your possession for a trial period before making your decision to purchase the horse.
A dispute could involve the care and treatment of the horse, the transport of the horse, the insurance of the horse, or the injury of the horse. Of course, all of these aspects of horse ownership involve costs, which can easily accumulate to thousands of dollars. The saddest cases involve the death and complete loss of value of the horse. Equine Exchange makes certain that you have covered all the bases with the Seller, so that a dispute is highly unlikely.