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Advice-purchase

Hi,
I am from CA and considering the purchase of an Icelandic gelding but am unsure of how much to offer. Could you give me a range of reasonable prices for the following description?

gelding, 7 y/o Icelandic chestnut paint. Is used for kids in riding lessons. Apparently does not do the tolt or pace all that well ("gave it up after 2 weeks at present owner). I have never seen him do it. They have a mare that does do both well, so we've seen it. This gelding is very calm-good for beginners and is being used for beginner lessons. I don't know if he jumps or if Icelandics do or don't. I know they paid $1000 for him last fall (2004) and he was a little inexperienced but otherwise pretty much the same condition and training as he is now. I'm told he is not a "special" color. I am looking for a very calm mount for my daughter who is 6. We know this geldings' temperament pretty well having worked with him for about 7 months. My experience is with (giant) 18 hh warmbloods. We think he would be a great addition to our family but don't know what a reasonable price is for him-we don't want to offend with a too low price or overpay. Can you help or give a good resource? Also, I have seen him canter but not alot-we just want the three gaits-for dressage, trail etc. Is this an appropriate expectation of this breed?
Thanks so much!
Lynne Owen

Re: Advice-purchase

Is he registered?

If he does not gait, he may be worth less. But he may have a solid temperament that makes him worth what you want to pay.

Take you time; look at a lot of horses; the prices, in general, are coming down. Domestics are probably more suitable; imports may have some problems such as summer eczema (sweet itch), spavin, unexplained lameness, unsuitable training, been subjected to saddles that don't fit, may be afraid of whips, etc.