Join Date: Aug 2009
Location: New South Wales, Australia
He's not worth 4 grand, but keep in mind here in Australia horses are a fair bit more expensive than over there. To buy a registered rideable QH or something you're looking usually at a minimum of $3000 at that's your really basic one. Thoroughbreds are generally the cheapest to buy and while registered horses are still valued, so are cross breeds. Many riders, unless they're kinda serious, are happy to have an unregistered horse.
I've seen "grade" horses go from 3-6 grand if they're quiet, somewhat educated horses suitable for pony club competition. People will pay for a horse they can trust with their kids, and that their kids can have fun on.
If their horse is okay being ridden out, you can just jump on after a break, has experience on trails and at pony club and he's a nice type they'll probably get somewhere between $1500-3000. Depends how he rides and what his bad habits are though, and how well they sell him and what the market is like where they are.