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Animals : an open access journal from MDPI2023; 13(8); doi: 10.3390/ani13081329

Factors Affecting Thoroughbred Online Auction Prices in Non/Post-Racing Careers.

Abstract: Racehorse welfare is a prominent, public issue which affects nearly every aspect of the racing industry. Thoroughbred care after race career completion has garnered increasing attention from the equine industry, general public, and animal welfare groups alike. As the average racehorse's career lasts just 4.5 years, owner demand for thoroughbreds is essential for post-race careers and acceptable welfare standards. This study utilized data from and hedonic pricing models to analyze buyer demand for thoroughbreds sold in online auctions held from 2012 to 2020. The results indicate buyer preferences for age (p < 0.01), sex (p < 0.05), and organization registration (p < 0.05), with bid price premiums for age and registration status (USEF, USEA, USHJA, etc.) and price discounts for mares compared to geldings and horses listed for non-competition careers (trail, p < 0.01). The results of this study confirm and quantify the value potential buyers place on thoroughbreds offered for sale in sport disciplines. The findings may help non-profit organizations charged with rehoming off the track thoroughbreds and reduce the number of unwanted thoroughbreds by illustrating the desired traits and skills within the equine market, thus improving welfare optics overall.
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Publication Date: 2023-04-13 PubMed ID: 37106892PubMed Central: PMC10135104DOI: 10.3390/ani13081329Google Scholar: Lookup
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Summary

This research summary has been generated with artificial intelligence and may contain errors and omissions. Refer to the original study to confirm details provided. Submit correction.

The article examines the factors influencing the prices of Thoroughbred horses in online auctions for post-racing careers, providing insight on buyer preferences for certain traits and skills in these horses.

Objective of the Study

  • The study focuses on understanding the preferences of potential buyers in the equine market, particularly for Thoroughbreds transitioning into non-racing or post-racing careers. The research aims to examine the influence of different factors such as age, sex, and registration status on the auction prices of these horses.

Methodology

  • For this research, the authors used hedonic pricing models and data from online auctions conducted from 2012 to 2020.
  • Hedonic pricing models are used to identify the factors which determine the price of a good or service. In this context, it allows the researchers to dissect and quantify the specific traits or factors that potential buyers value in Thoroughbreds for non-racing or post-racing careers.

Findings

  • The research results indicate that buyer preferences revolve around the age, sex, and organization registration of the Thoroughbreds.
  • A significant finding from the research was that buyers are willing to pay more for younger horses and for those registered with certain authorities such as the United States Equestrian Federation (USEF), United States Eventing Association (USEA), and United States Hunter Jumper Association (USHJA).
  • Interestingly, the study also showed that mares (female horses) sold for lower prices compared to geldings (castrated male horses). Thoroughbreds listed for non-competition careers (like trail riding) also received lesser bids compared to those being auctioned for sport disciplines.

Implications of the Study

  • The results of the study provide important insights for non-profit organizations responsible for rehoming Thoroughbreds after their racing careers conclude. By understanding what potential buyers value or look for when purchasing these horses, these organizations can guide their rehoming efforts more effectively and reduce the number of unwanted Thoroughbreds.
  • Additionally, by illustrating what traits and skills are desirable in Thoroughbreds in the post-racing market, the study can contribute to improving overall welfare standards for these horses.

Cite This Article

APA
Camp M, Kibler ML, Ivey JLZ, Thompson JM. (2023). Factors Affecting Thoroughbred Online Auction Prices in Non/Post-Racing Careers. Animals (Basel), 13(8). https://doi.org/10.3390/ani13081329

Publication

Animals : an open access journal from MDPI
ISSN: 2076-2615
NlmUniqueID: 101635614
Country: Switzerland
Language: English
Volume: 13
Issue: 8

Researcher Affiliations

Camp, Madalynn
  • Department of Agriculture, Illinois State University, Normal, IL 61761, USA.
Kibler, Michelle L
  • Department of Agriculture, Illinois State University, Normal, IL 61761, USA.
Ivey, Jennie L Z
  • Department of Animal Science, University of Tennessee, Knoxville, TN 37996, USA.
Thompson, Jada M
  • Agricultural Economics and Agribusiness, University of Arkansas, Fayetteville, AR 72701, USA.

Conflict of Interest Statement

The authors declare that they have no conflict of interest.

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Citations

This article has been cited 3 times.
  1. Yuan X, Yao X, Zeng Y, Wang J, Ren W, Wang T, Li X, Yang L, Yang X, Meng J. The Effect of Training on the Expression of Protein and Metabolites in the Plasma Exosomes of the Yili Horse. Animals (Basel) 2026 Jan 6;16(2).
    doi: 10.3390/ani16020158pubmed: 41594348google scholar: lookup
  2. Corbally AF, Mulligan FJ, Sweeney T, Fahey AG. Phenotypic Associations Between Linearly Scored Traits and Sport Horse Auction Sales Price in Ireland. Animals (Basel) 2025 Jul 29;15(15).
    doi: 10.3390/ani15152227pubmed: 40805017google scholar: lookup
  3. Knox AL, Fenner K, Zsoldos RR, Wilson B, McGreevy P. Owner-Observed Behavioral Characteristics in Off-the-Track Thoroughbreds (OTTTBs) in Equestrian Second Careers. Animals (Basel) 2025 Jul 11;15(14).
    doi: 10.3390/ani15142046pubmed: 40723508google scholar: lookup
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