What Would I Need An Appraisal For?
Donating your horse to a University, Therapeutic Riding Center or qualified nonprofit? The IRS requires a professional written appraisal for a horse valued $5,000 and over.
When selling a horse, some people tend to under price because they aren’t familiar with the current market and comparable horses. Others overprice and end up sitting on a horse for months, unable to sell it for the same reason. An appraisal is a professional, unbiased opinion of value, supported by relevant data. An appraisal takes out the guess work and gives you a defensible number, not a Facebook opinion.
Many insurance companies require a formal appraisal for things like mortality insurance, major medical or loss of use. Should anything happen to your equine pal, you’ll need a documented value you can trust.
Getting a divorce? Partnership dissolving? In the midst of a business dispute? Maybe you need to know the value of a horse for an estate settlement. Courts don’t usually take your word for what you think your horse is worth. They accept appraisals conducted by professionals.