Show Quality Quarter Horse Auctions: Price Determinants and Buy-Back Practices

This study estimates the price determinants of show quality quarter horses sold at auction. Several characteristics including genetic and physical traits, quality of pedigree, and performance record of the horse, as well as the horse's offspring, were found to significantly impact selling price. Sale order positively affected price and appears to be driven by buyers rather than intentional ordering of the horses. A common practice at horse auctions is for the seller to reject the final bid offered and buy back the horse. Model-predicted prices for these buy-back horses indicate they are not undervalued by the final bids, based on their characteristics.


Issue Date:
2006-12
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/8631
PURL Identifier:
http://purl.umn.edu/8631
Published in:
Journal of Agricultural and Resource Economics, Volume 31, Number 3
Page range:
595-615
Total Pages:
21




 Record created 2017-04-01, last modified 2018-01-22

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