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These are the types of orders I like, Brag, Brag, Brag

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Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Just got the below email in. This is one I can get my teeth into and really like to work these types of appraisal. There is life on the other side of residential appraising. For $5000 a year in marketing in Trade Journals already this year has paid for themselves and now making money for that special nitch we are all looking for. After talking with the attorney on the phone a letter of engagement did go out.


Hello,
I am looking for a quote for an appraisal. It would consist of 13 horses and some equine-related buildings (stable, arena), home and supplies and tack. The home is located in xxxxxxx. Let me know if you need more information.

Thank you,
Attorney XXXXXXXXX
xxxxx, xxxxxx & xxxxxx, S.C.
Mauston Office Dells / Delton Office
xxxxxxxxxxxxx xxxxxxx
Mauston, WI 53948 Lake Delton, WI 53940
(608) xxxxxxx (608) xxxxxxxxxxxxx




 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Ray,

That looks like the orders I receive from two attornies I receive work from.

No biggee, like you said, make up th eengagment letter and send it back.
 

DaveH

Junior Member
Joined
May 5, 2007
Professional Status
Certified Residential Appraiser
State
Ohio
Awesome Ray this gives me a reason to get into the equine business. I have been investigating what, who and where and just needed to get the right amo for the boss......
Thank you for the amo.....

Dave
 

Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Awesome Ray this gives me a reason to get into the equine business. I have been investigating what, who and where and just needed to get the right amo for the boss......
Thank you for the amo.....

Dave


Not to toss cold water on your plans. But just like Mr. Shields mineral and oil rights and others that work in specialty areas, you need a very strong background in that field. A complete understanding of the equine industry and the many different parts of it.

If you are doing an appraisal for a Standard-bred, which market are you going to appraise it to?

Backyard horse owner, the Trainer/breeder for racing, the show horse cart driving, the Amish. Each one poses a different value for the same horse. You need to know this for each breed. From Drafts on down to mini’s.

You must know your markets, local, regional, national and international for each breed. Which approach is the correct approach to use in establishing value for the horses?

Tack and related equipment is even harder to understand. Take for example English saddles can be flock with real wood and the way down to string and paper, then they can have foam panels that die with six months to a year of usage rendering the saddle about useless for most events. Or any number of different fillings. Western saddles can be just as hard. I had one a couple of weeks ago that was a perfect reproduction of the original. The man had bought it as an original 1880’s saddle in the condition it was in it would have brought $20,000 at auction and he paid near that for it. But being a reproduction it would be at best $6000 at auction for collectors. I found the man that had reproduced it ten years ago. Same can be said for Silver mounted saddles, what type of silver is it, was it added at the time of manufacture or later. Later makes it worth less.

So before you jump, be sure you have the background and knowledge and the contacts to get into this field appraisal.
 
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