The Economics of Excellence: Why Investing in Top-Quality Dressage Horses Makes Financial Sense

When it comes to dressage horses, there's a hard truth many owners struggle to accept: all horses cost roughly the same to feed, vaccinate, and maintain, but only exceptional horses offer real financial upside possibilities. This is an important consideration, particularly for dressage horse breeders, resellers, and riding professionals.  

Whether owning a future Olympic prospect or a career first-level horse, monthly expenses remain remarkably similar. The difference lies not in what is spent, but in the longer term outcomes.

The Carrying Costs of Ownership

Take a minute to consider the annual cost of horse ownership, considering board, veterinary care, blacksmith, insurance, and other associated costs.  Keep in mind the surprise expenses along the way, like the “indestructible” blanket replacement, that special shoeing, and that unexpected medical expense. As unpleasant as this budgeting exercise might be, it brings clarity to the carrying costs of ownership, especially once the horse reaches riding age. 

Riders who train their own horses need to factor in the value of the time spent on training. If a professional commands, for example, $75 to $125 an hour for teaching, that hour spent on the horse’s care and/or training is a daily lost income opportunity. If an owner is self-boarding, they must factor in both those costs plus the lost income opportunity. Remember, the horse occupies a stall or pasture space that a paying client could be filling. 

How many years will the horse be owned? Multiplying all costs times the number of years of ownership provides an honest picture of the cost of ownership. Frankly, this represents more than an independent dressage professional can realistically afford to lose, and more than investors want to risk—unless the horse offers significant potential returns.

The Financial Reality of Mediocrity

Horses with limited natural ability offer virtually no financial upside. After years of investment, these horses typically sell for modest amounts that rarely cover even a fraction of the money invested in their care and development. Many owners find themselves unable to sell such horses at any price, continuing to support them indefinitely as expensive pasture ornaments.

The Wealth-Building Potential of Excellence

Any horse ownership is risky if you even dare to consider it to be an “investment,” and one should never spend money on a horse unless it’s money one can afford to lose. 

That said, average-quality dressage horses offer no upside financial opportunities, while top-quality dressage horses represent genuine wealth-building possibilities.

An exceptional horse developed through the FEI levels can be worth $100,000 to $500,000 or more, depending on their success and breeding potential. For stallions and international team prospects, values can reach seven figures.

The breeding potential of top-quality stallions and mares adds another dimension of future value. A successful FEI horse can generate significant income through breeding fees or embryo sales, creating ongoing revenue streams that continue long after their competitive careers end.

Stallion: Volumia (Vaderland x Floriscount)

Rider Reputation

Some might argue, “I’d never sell my horse anyway, so this logic doesn’t apply to me.” But it does. Your professional brand, the way people position you in their minds, the level of respect for you, and the amount they might be willing to pay for your services is largely impacted by the quality of horses you are riding. 

Talented Kim Alting (NL) first "discovered" by success on Dark Rousseau

When competing on better horses, trainers attract better clients, students, and other top-quality horses to ride. It can be key for attracting sponsors and investors, maybe even sponsorship opportunities.  Success breeds success in the horse world, creating opportunities that extend far beyond any single horse's value.

Rider Satisfaction

Let’s face it, we’re not curing cancer or working toward world peace as we train our dressage horses. But professionals and amateurs alike will sacrifice time and money, endure pain, humiliation, and discouragement, just for a good day at the barn. We’ll suffer bleeding knee blisters, arthritic fingers, frozen toes, and daily back pain just for that vague sense of accomplishment or soon-forgotten ribbon. 

The reality is that horses that don’t bring that daily dopamine we all crave are just as expensive as the ones that bring indescribable enjoyment. A horse with limited gaits costs just as much to feed as the one that teaches you what a fantastic canter feels like. 

Tough horses often make tough riders, while dressage horses with natural talent allow riders to refine their feel and quickly advance in their abilities. 

Making the Strategic Choice

The message isn't that every dressage professional needs to own the next Glamourdale. Rather, it's recognition that if you're going to make the substantial financial and time investment that any dressage horse requires, choosing quality makes profound economic sense, even if that requires a greater up front investment, buying an even younger top-quality prospect, and/or involving other parties in making the purchase possible.

In the end, cheap horses are the most expensive. The daily costs remain the same, the time investment is identical, but the outcome can be the difference between growing your talent as a rider, or growing old without progress. 

For professionals who should have a number of horses in their queue, investing in top horses often represents building equity and a great reputation vs. a stagnant career while your net worth disappears one hay bill at a time.

Too often, a buyer makes a purchase decision based on cash-on-hand for the most ready-to-go horse, a formula that can be short-sighted. In dressage, as in many investments, quality often proves to be a much better investment in the end.