The pandemic has been a really difficult time for everyone and everything. It has affected things you wouldn't believe, including the saddle industry. We as a shop have struggled getting product in as quickly as we used to or even at all. Time frames are pushed out tremendously and many products have been discontinued. This is due to not being able to get supplies and the high demand for the items. Every industry has experienced something similar through all this. It reminds me of a domino effect. One thing trickles down to something else and it keeps going down the line. A huge thing that has taken the horse world by storm is the increase in horse prices since the pandemic started. That's right, horse prices. It reminds me of the house market right now. They are priced higher than usual, but they don't last at all. People are scooping them up just as soon as they are advertised and it is a battle between buyers. Like houses, some sellers are even getting more than their asking price. It is crazy to see the amount some horses are going for, but when you break it down, there is some logic behind it. 

There is a huge imbalance with supply and demand in the world right now. This has a big factor in why horse prices have went up. There is a high demand for horses, but there are only so many horses out there. People are buying horses left and right, even those who have never owned them before. With everyone buying horses, the demand for tack/saddles go up. With the shortage of supplies, that causes an imbalance for businesses like us. We are selling saddles like crazy, but we aren't able to replace them as quickly with our vendors struggling to find supplies. It all ties in together. Why is this happening? With the unknown times, you would think the opposite would be happening. 

Here are some reasons why the horse market has sky rocketed due to COVID:

1. Supply and demand - people working from home 

COVID increased the demand for horses for many reasons. One big factor was how many people started working from home. While working from home, people experienced a lot of free time that they did not have prior to going into their job. It was also found that people saved money by staying home. This cut back on gas/fuel cost or ordering food or coffee. Without these extra expenses, people found they were able to afford more and they also had all this new free time. What better way to spend your extra time and money than on a new horse? This led to numerous people buying a horse, even if they hadn't owned any before. 

2. Supply and demand - Trips/holidays canceled

Many people, especially families, plan their trips, vacations, or holidays in advance. When people booked these getaways, we had no idea what the next year was going to hold. There has been so many trip cancelations due to COVID and many people just had to stay home. As we all know, trips cost a lot of money. With them being canceled, people were basically getting free money back that was supposed to go towards their trip. This allowed people to purchase a horse.

3. Supply and demand - Outside activity 

I think the biggest reason the horse market has gone up during COVID is due to it being an outdoor activity that allows you to social distance. Pretty much every aspect of owning a horse involves being outside. You can ride, spend time with a horse while being safe, and not be cooped up in your house. 

With several amateur riders horse shopping, there has also been a high demand for better quality horses. With higher quality comes a  higher price tag. People are wanting something safe, sound, healthy, and built for what they are wanting to do. This has also played a factor in competition/performance horses. Many amateur riders have gotten into a certain discipline and are now even competing. This means they are looking for a high quality horse that knows a certain job well. Seller's do have the advantage point here. They are able to get top dollar for their horse and have them move quickly, while buyer's are struggling to find an available horse that fits their needs and budget. Bloodlines, color, age, training, etc.. will always have an affect on horse prices, but the main reason for the increase is the supply and demand. 

Horse prices are expected to go down once the demand goes down. Unfortunately, the cost of owning a horse is steadily increasing as well. Hay prices are going up, acreage is hard to find, board is going up, equipment prices have gone up or it is hard to find, and you always have to keep vet bills/maintenance in mind. Farriers are increasing their prices also because the cost of supplies are going up for them drastically. This is scary because all these people who purchased horses, may be forced to sell them because they are unable to afford the care that is needed. While horses do bring a lot of joy, they are a living animal and a lot goes in to owning one. It is crazy to see how everything is unfolding and how the smallest of things can be affected. It will sure be interesting to see the horse market in 2022!

(picture credit: https://myexracer.com/2014/05/smart-pak-sold/)