Yep, which is why I want you to keep him! If you can.. if it's too much of a burden then do what's best.
I would be insulted if someone offered $200 for a yearling that's well handled. I mean, that's the same amount as a plain headstall and breast collar set! That's how much a really nice bit would cost.. or nice stirrup leathers. I mean that horse is going to grow up and be trained and he'll be really nice like tiny said in a VERY short time. $200 isn't what he's worth. At least double that.
$400 isn't that expensive for a yearling, at all. I've seen them closer to $600 or $800-$2000 for the "nice" ones.