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Om El Erodite sells for $1.55 Million


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#1 arabsRgreat

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Posted 27 February 2017 - 09:36 AM

Can we have the discussion here?  Did anyone go to this auction?  Is it true as was said on FB that the tax laws changed again to the '80's write offs or was someone just having fun? 

Good or bad for market with these kinds of prices? 

Looks like the Addis PT horses have some big numbers in front of them too.

Is the Trump stock market helping horse prices? 

Thoughts?

 

I was excited as this mare's dam is a 3/4 sister to my gelding's sire.  Not that it matters since he is a gelding but it doesn't take much to get me excited.  Ha ha ha!


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#2 beyfan

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Posted 27 February 2017 - 09:49 AM

Though I can't fathom having that much $, I thought she was an outstanding mare indeed. So lovely.



#3 OHR

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Posted 27 February 2017 - 09:59 AM

And I can't get $2500 for a proven cutting horse. Whats wrong with this picture?


:bigemo_harabe_net-135:   :( 


#4 cvm2002

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Posted 27 February 2017 - 12:12 PM

I think this was more marketing hype and flaunt than anything, especially for a young filly that hasn't done anything yet.  Don't get me wrong, she's a lovely filly and I love Om el bred anything, but I think this had more to do with prestige than honest worth.


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#5 ladycascabel

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Posted 27 February 2017 - 04:21 PM

I am happy to hear there may indeed be an upswing of any kind in the horse market, and yes, the tax laws did change back to allowing write-offs the way they were in the 80s. Hopefully there will be yet more tax laws changed to help small businesses.


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TS Paarden Mia chestnut purebred mare
HAA Marco Rojo chestnut Classical Spanish gelding
SA Firefoxx chestnut purebred gelding
OFW Carnation bay purebred mare
Skyy RPA amber champagne HA mare
Goldenseal MSL palomino HA gelding


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#6 arabsRgreat

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Posted 27 February 2017 - 05:11 PM

I am happy to hear there may indeed be an upswing of any kind in the horse market, and yes, the tax laws did change back to allowing write-offs the way they were in the 80s. Hopefully there will be yet more tax laws changed to help small businesses.

So was that a depreciation change then?  I can't remember what the change was years ago.  I just know it killed everything overnight!



#7 ladycascabel

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Posted 27 February 2017 - 06:14 PM

Yes, as I recall it. And you are right, once the "big boys" couldn't write off their horse hobby, the horse market fell like a stone. Sad for all the high-dollar horses that went to the sale ring. A friend of mine ended up with a mare that had brought $80,000 at a Lasma sale as a two year old. The mare, and her pure Polish son, were purchased for $600.


Mary Logan

www.cascabelranch.com

Proud of our family of working western athletes: Arabians, Half-arabs, National Foundation Quarter Horses.
Producers of all-natural grass-fed beef.

The Arabian and Half-arab Fam:
 

WCF Rampage+/ bay purebred gelding

TS Paarden Mia chestnut purebred mare
HAA Marco Rojo chestnut Classical Spanish gelding
SA Firefoxx chestnut purebred gelding
OFW Carnation bay purebred mare
Skyy RPA amber champagne HA mare
Goldenseal MSL palomino HA gelding


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#8 Dreamcatcher

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Posted 27 February 2017 - 08:14 PM

When did the tax laws get changed, and where can I find the info?  We've been out of the country and out of the loop.  That's some AWESOME news, do we know when it takes effect? 


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#9 SportArab

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Posted 28 February 2017 - 05:29 AM

The change that hurt all horse markets was to only allow deductions of expenses if they were "active." In other words you had to be actively involved--that is, spend a certain number of hours a year--to deduct against active income. So, if you were just an investor who had no hands on connection, you couldn't deduct expenses except against other "inactive" income. I didn't know that had been reversed.

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#10 Dreamcatcher

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Posted 28 February 2017 - 06:52 AM

The change that hurt all horse markets was to only allow deductions of expenses if they were "active." In other words you had to be actively involved--that is, spend a certain number of hours a year--to deduct against active income. So, if you were just an investor who had no hands on connection, you couldn't deduct expenses except against other "inactive" income. I didn't know that had been reversed.

 

I had read that it was under consideration, not that it had passed.  So, I'm curious to be able to find it and read it and see when it went/goes into effect. 


Pat Lowe