Factors associated with the selling price of sport horses in public auctions in Ireland

Abstract

Sale prices at auction significantly impact the economic return of sport horse production. This study aimed to determine factors associated with auction sales prices of sport horses at four maturity stages: foals, juveniles, young horses, and older horses. A total of 42,799 sales records from 2003 to 2022 were obtained from two Irish equine auction companies. A univariate regression model was used, and significant variables underwent multivariate analysis. Within each maturity category, factors associated with above-mean-priced horses differed from those associated with below-mean-priced horses. Foals registered in a studbook, sired by high-performance stallions based abroad, and sold to overseas markets were associated with a positive price effect. Juvenile stallions and females that were sold at Cavan sales to Irish buyers were associated with a positive price effect. Four-year-old stallions in the overall and above-mean categories were associated with positive price effects in the young horse category. Young horses registered in a studbook, 165–172 cm tall, and sold in November to overseas clients were associated with positive price effects. Horses not started under saddle were associated with positive price effects in overall and above-mean young horse groups. Positive price effects were also observed from older horses that had competed in training shows, were <10years and >165 cm tall and were sold abroad. Negative price effects were associated with horses over 10 years of age in this category. Analysing maturity and value segments gives breeders insights into price determinants, enabling them to optimise pricing strategies and improve profitability.