HORSE INDUSTRY
The RISKS and REWARDS of
By Karen Weslowski Miller Thomson, LLP, Vancouver, BC
PHOTO: ©THINKSTOCKPHOTO/MATTHEW LLOYD
Buying at an Auction
In general, the legal maxim Caveat emptor or “let the buyer beware” applies to any kind of horse purchase and sale.
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uying a horse is an important decision that usually involves careful planning, consideration, and research. Buying a horse at an auction can remove or reduce the ability to exercise due diligence in the buying process. “Deals” and good quality horses can be found at auctions; however, when attending an auction, buyers may be overcome with excitement for what appears to be a great bargain or sympathy for an obviously mistreated horse, and make a purchase they later regret. While there is nothing wrong with wanting to score a deal or rescue a horse,
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Equine Consumers’ Guide 2016
auction buyers should be aware of the legal obligations imposed upon buyers, consignors, and auction houses so they can protect their legal rights and, to the greatest extent possible, make informed decisions.
Know the Type of Auction You Are Attending
There may be a considerable difference between the local monthly auction and premium sport horse import auctions or major breed auctions. The latter types of auctions tend to provide detailed sales programs containing extensive descriptions and photographs of
CANADA’S HORSE INDUSTRY AT YOUR FINGERTIPS
the horses offered for sale, including their pedigrees and show records. Potential bidders may also be provided with an opportunity to ride the horses prior to the auction. In some instances, these auctions may have also pre-screened the horses for health and soundness, in which case there may be vet check results available for review as well. Armed with this additional information, buyers at these types of auctions may bid more confidently. Buyers at local auctions will often receive little to no advance information about the horses offered for sale. Horses at these auctions are generally presented “as