Partnership question

[Nicky]

We own some mares with our friends, half and half partnership. So when we have broke and rode colts out of these mares til they are finished horses...what is our half worth? The first one was a filly (registered), I rode her for several years and then told Carol that I didn't want to keep my half of her, and did she want to buy me out or should we sell her. Carol decided to keep her, so now we need to come to a price for my half. This actually happened a couple years ago and we've just been letting it drift. I finally told her that we needed to come to a price by year end. The same year she decided to keep her we sold a gelding the same age/training for $7,500.00. IMO she was by far the better of the two. (Of course that could be because she was mine and the gelding was Mikes )

So let me know what you all think. Thanks!

[Northern Rancher]

What guys do up here is the guy who trained it prices the horse-if the other half doesn't take it the trainer buys their half out at the named price. It can be a sticky deal at times. I'm just in the process of extricating myself from a couple bucking bull deals or should I say donations lol.

[katrina]

Take a colt instead of trading money.... Hey... you can never have to many horses.... Just like shoes....

[Northern Rancher]

Now there's a plan

[ReRun]

I agree with Katrina, I'd trade for a colt or even 2... It's easier to deal in livestock with friends then money. Some people get to 'touchy' when it comes to money and what they think something is worth.

[JF Ranch]

I would suggest that you equally share all costs and split the ownership of the foals before they are born.

If you have two mares, agree on which mare's foal you get and which one your partner gets. Then swap mares the next year and alternate each year after that.

There would be no arguments on which foal is best this way, as it would be like flipping a coin.

As Katrina suggested, you can always trade your way out of whatever inequity you might find yourselves in.

[Denny]

I've never seen much good come from partnership's. End's up someone always feels used. I'd price the colts at the time you took over. Without training they are'nt worth much.If it's worth $1500 at weaning all the training and feed made it worth $7500 an unbroke 4 year old is'nt worth much no matter what the pedigree.

[Justin]

[Faster horses]

I'm agreeing with Denny. A horse standing there just doesn't have
much value nowdays. It't the training they have that gives them
a value. This is a sticky situation and you might have to take less
than you should just to keep a friendship. If you sold that gelding
for $7500, a mare is generally worth less (not that I agree with
that, but it's just the way it is--unless the mare has some great
bloodlines, and I do mean, GREAT). So if you took $1000 less for
being a mare that would leave $6500; cut in half would be $3250
that she should pay you. Not too bad for a good horse...that you
know is dependable...


Good luck. Hope it turns out ok for you both.

[Big Muddy rancher]

Hind sight is great, you probably should have priced the filly when you took her so you would know her value before breaking. Then if they didn't want to pay you what you felt your time and talent was worth you could sell her and split the unbroke value and you get the balance.
I don't really know of a delicate way to get what you have coming now.

[gcreekrch]

Count me in with Denny.

[Nicky]

Hindsight is definately 20/20...and most of your suggestions are what we wished we'd done But since we didn't, more suggestions are welcome.

The colts are half and half when born. They share in expenses (feed, vaccinations etc.) we do 100% of the work til they are finished. I know it's a bad deal and I wish we'd never let it get this far.

How do I go about valuing our time? It's not like riding an outside horse where you charge by the month or whatever.

And Katrina...yes, unfortunately you can have too many horses