Yearling quarter horse prices are dependent upon a number of characteristics. Quantifiable genetic and macroeconomic variables for 5,295 sales from 1982-92 are used in a hedonic price model. Marginal values and discrete incremental prices are determined for 23 characteristics, 21 of which are found to be significant. The model’s fit implies it may be helpful for maximizing breeder returns. Overall, buyers pay substantial premiums if the yearling’s first dam or sire was a champion and if the sire or first dam previously produced a champion. Likewise, yearlings whose second and third dams are winners and producers of winners receive higher prices. Prices paid for fillies and older yearlings exceed those paid for clots, geldings, and younger horses.


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