Equine Appraisal Career - Part I

It never fails: I receive more inquires about what it's like to be an equine appraiser at the beginning of the year than at any other time. Perhaps people welcome in the New Year by considering their career choices. 2011 has been similar in the volume of inquiries, though I have noticed that more young people have called or emailed. They seem to share a background in horses but have very little practical work / business experience. This could be an indicator that with the soft economy, recent graduates would rather make a job than land one.

In this posting, I will share the basic information I have prepared in response to the most often asked questions. Also, the FAQs on www.equineappraisals.com answer many of the how and why questions I receive.


Most appraisers are self-employed. As a self-employed professional, it will be up to you to market your service and drive your business. How busy you are will be determined by your success in those areas and the demand for your services in the breed / geography in which you concentrate your efforts. Each appraiser’s experience is different. It is like running any other independent business – you get out of it what you put into it. Many appraisers do it “part-time” to supplement their other income, often from various aspects in the industry like training, giving lessons, or running a sales barn.


There isn’t a single answer for how long appraisals take or how much each one generates. As an entrepreneur, you are responsible for the turn around time of your product and the pricing strategy you use. Understanding your fixed and variable cost streams will help you determine how to price your work. A quick search of the internet showed me that less experienced appraisers charge between $350 to $500 for an appraisal, and more experienced appraisers can charge up to $1,200. (The type of appraisal and service may vary widely, as I discuss next).


My personal experience is that appraisals vary in their time requirements based on the type of appraisal being performed and the circumstances under which the service is being rendered. Ten hours is a reasonable estimate, but I have certainly worked on some audit and litigation appraisals that have taken much, much longer. While the ethical and technical requirements are the same for every appraisal, the amount of due diligence and research required is different for each project.


In reality, the On-Site Inspection takes about an hour, making it the "quick" portion of your work. The bulk of your time will be spent researching the horse, the market, and other recent sales, to determine the valuation. There are plenty of phone calls / waiting for people to return calls including other sellers, vets, farriers, trainers, past owners, perhaps even lawyers, and insurance reps. Then you will need to prepare the report and certification. Your skills on the computer will determine how long this takes, along with the complexity of the project. We turn around most appraisals between 2 weeks to a month.


Well written and well spoken are essential ingredients of a great appraiser. Some firms, like Sterling, take on interns to help new appraisers learn the ropes. I always keep a file of those folks who have expressed interest. A resume and details about your horse experiences help me to evaluate your communication skills and writing abilities. If you don't take the time to format and spell check your resume, chances are good I will not want to proofread your appraisal reports.


The American Society of Equine Appraisers can provide much greater details about organizing and running your own businesses. They can also put you in touch with appraisers already certified in your area if you are interested in seeking mentorship opportunities.


In Part II, I will share a Day-In-The-Life account of a recent appraisal project.

Buying a Horse (Avoiding Misery and Financial Ruin)

Usually, when a person calls for an appraisal of a horse they'd like to buy, they don't really need an appraisal. Often, they are a first time horse buyer, and the parent of a horse crazy kid. They just need someone objective to talk with about this seemingly huge financial step. Often, I unknowingly validate what their trainer has already told them...and talk them out of needing my service. But, if they become better educated and deal with ethical horse people, they will stay in the Industry and spend money to help us all grow and prosper. (They will meet their fair share of shady characters in the horse world without my help!)

I've received more phone calls from prospective purchasers this week than I have year to date. Summer's here and people want to buy horses. Of course, it's a great time to buy - prices are still generally low and there are many horses on the market.

Rachel of Equine Legal Solutions did an excellent job outlining what all horse buyers should consider. I think this is a great post, so I thought I would pass it along to you!

Equine Legal Solutions Horse Law: Buying Your First Horse: A Guide to Avoiding Misery and Financial Ruin

Good luck and happy shopping!
~Jennifer