Can any horse truly be a financial investment? I have yet to own a horse that has given me a positive financial return on the purchase. That said, every horse I have owned has been worth it!
As for a 20 year old horse, I agree it depends upon what you are willing to spend, the care and maintenance you are willing to give and the condition of the horse. I bought back my 20 y.o. Clyde X App last summer and paid a fair price for him. If he died tomorrow, it would still have been worth it. He's a great horse and in great shape with many miles left. I simply cannot put a price tag on his experience and he is a dear old friend.
If you are only looking for a horse for a couple of years, why not consider a lease? Maybe the owners will lease the 20 year old to you?
Originally Posted by waresbear
20 yr old horses are not investment horses, you use them and enjoy them. And 9 times out of 10, they will reward with so much pleasure you will get back your original investment plus interest.