 Frequently Asked Questions
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Why would someone
need a horse appraised? At
some point in a horse owner's life, situations may occur that requires you to prove the
value of your horse. This is when you need a professional horse appraiser who is
compassionate and can advise you of the proper process and procedures. Sterling examines horse values for sales,
donations, litigation, partnerships, collateral and more. (more
details)
What types of horses does Sterling usually appraise?
Hunters, Jumpers, Equitation Horses, Ponies, Miniature Horses, Western Pleasure &
Performance Horses, Trail / Companion Horses. If we don't
specialize in your breed or discipline, we are happy to direct you to another Certified
Equine Appraiser that does - just contact us for a free referral. (more details)
 Who are the equine appraisers and what are their backgrounds? Sterling
has the highest caliber appraisers.
Feel confident in your selection of Sterling for your horse appraisal needs. Each appraisal is conducted by an expert horse
person who at a minimum is an earner of state and national titles, high points, honor
rolls, points and awards in several breeds and disciplines and schooled in the hands-on
appraisal process. Every partner of our
team is certified by the American Society of Equine Appraisers and receives continuing
education annually. It's not just a job, it's a passion! (more details)
D o you provide services to attorneys, accountants
or insurance agents? Yes! Visit the professional services
page to see everything offered for you and your clients. Then call to discuss your
specific needs.
How much does an appraisal cost? Much like
attorneys, in the world of appraisals, you get what you pay for. Our valuations are used
in court, for tax purposes and with insurance companies. You can be confident that your
appraisal and your appraiser will hold up to the highest standards including litigation
and the IRS. Sterling offers appraisal services from $750 to $1,200, depending on the
client's need and project scope. We offer volume discounts and extend discounts to members
of many equestrian organizations including USEF, AQHA, and 4-H. Please allow us the
opportunity to provide a free, no obligation, written quotation. (more details)
Can you
value a horse that you don't physically see? Because some horses are no longer
available for inspection, much of our work is appraising horses that we can not see in
person. We conduct appraisals under hypothetical conditions, usually if the horse is
deceased or stolen. This type of appraisal requires that we 'assume' some facts by using
information obtained through various documents and validated by other sources including
but not limited to veterinarians, trainers, breed registry officials, local sale barns, or
prior owners. (more details)
How do you
determine value of my horse? There are many way to assess the value of a horse.
Sterling evaluates the unique circumstances of each project and then applies the most
appropriate method, as defined by the American Society of Equine Appraisers. Most often,
we use the Sales Comparison method to determine the "fair market value" of the
horse being appraised. Much like real estate, we can review horses that have sold recently
with similar characteristics to your horse and add or subtract dollars based on an
unbiased evaluation of how your horse stacks up. Recently, Horse & Rider published a chart
that depicts this process.
I am considering
donating my horse. Do you have any advice? Donating your horse to a school,
theraputic riding program, or non-profit organization is one of the nicest charitible
contributions you can make! First, make sure the organization qualifies as a charity under
IRS guideline. The program director should be able to validate this. Then, consult with
your accountant to determine if you may be eligible to receive a tax deduction. Some other
things to keep in mind in deciding to donate:
IRS regulations
generally allow you to deduct "fair market value"-the price your horse would
fetch on the day you make the donation. If you are donating an aged, foundered horse to a
rescue group, for example, you will not be able to claim the price you paid when he was a
4-year-old show champion. Most nonprofits let the donor determine the fair market value of
the horse.
If the value is more
than $500, you'll need to file IRS form 8283 with your tax return to claim the deduction.
If the value
is more than $5,000, you will need to support the claim with a written appraisal by a
qualified, independent expert. If you horse is quite valuable, your accountant may advise
you to have two appraisals, in case the IRS disallows one.
What can I do to be
prepared in case I ever need an appraisal? Here are a few pointers from our
certified experts:
1) Hire a professional appraiser who remains current on industry trends and who is
knowledgeable about your discipline and breed.
2) Maintain a current series of videos and photos of your horse. These will be invaluable
to an appraiser if your horse is injured, stolen, or worse.
3) Protect the investment you have in your
horses. You may be able to add them to your homeowner's policy. There are also many
companies who specialize in equine insurance. (more details)
4) Keep records of your horse spending,
winnings, and achievements. This data may be necessary for an accurate appraisal. It may
also benefit you at tax time.
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