Since no one has mentioned it, this mare, "ruined" or not is worth a nice chunk of change (a he!! Of a lot more than a couple hundred $$) jut as a broody.) She is an own daughter of Shining Spark, and her performance record is pretty good!
2002 LIL MISS SHINEY CHEX (embt), f. By Shining Spark. $100,414 and 51 AQHA points: 2009 NRCHA Open Bridle World Champion; NRCHA Open Two-Rein World Champion; AQHA Reserve World Champion Junior Working Cow- horse; NRCHA Limited Open Futurity Reserve Champion (Champion of the Reined Work; Reserve Fence Work); Open Bridle Reserve Champion at the 2010 NRCHAFuturity;4th,NRCHAInt.OpenFuturity,etc .
Plus, she is a proven broodmare-here is just ONE of her babies records. Cottonwood Springs Ranch: Broodmare | Shiney Lil Miss
So, frankly, I am of the opinion that your BO was trying to pull a fast one. This mare is worth a lot ore than a few hundred $$. JMHO.