So some of you know that I've taken on a (pregnant) horse to train for this lady. She knows I'm in the market for a project horse, so she made me an offer: half ownership of the mare and foal for $1500 ...
The mare is 6 and untrained (well, till I get through with her!).. and a grade mix. The stallion of the foal is a grade QH.. or so she's been told.
Here's what I don't get: She was offering this mare to me a couple of months ago to buy for $1400 with foal, and $1200 without - and now I get HALF ownership for $1500? If I just want to half-own the foal, it's "only" $500!
I was expecting to offer her $300 at THE MOST to BUY (own, not part-own) this foal if I liked it when it came out.
The market is in a HUGE slump. If she was taken to a sale, she'd barely pull in $300, let alone $3000! And foals now (especially grade mixes) are almost literally a dime a dozen.
It's not that the mare isn't cute - it's just that good-looking, trained horses are going to sales and averaging $700 per horse.
I would be interested in the foal, but certainly not for $500 for part-ownership!
How do I tell her that:
1) the prices she's asking are rediculous for the market value right now .
2) yes I'd be interested in the foal, but the most it's going to be worth is $300 - for full ownership - and that's putting top dollar on it! Not the $1000 she thinks it will be worth.
This has to be done tactfully. She's a very nice woman with a cute mare and I really do like working with both of them! I do see potential in the mare, and am really enjoying seeing the fruits of my labour!