Fair Market Value define:  Fair Market Value is the price at which the property would have changed hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell, and both having reasonable knowledge of the relevant facts.

(Per the U.S. Department of Treasury Regulation description Sec. 20.2031 (b) )

In today's high priced horse market we have to be able to properly evaluate the true market value of our horses. Specially given the investment we make for some of these fine athletes.

The old saying "A horse is worth what ever you get for it on a given day" really doesn't apply anymore. With competition and training fees, the cost of breeding, and most of all the comparable market in which a horse can sell for truly dictates a different value proposition than we have seen in the past.

There is only one way to appraise a valued equine: You have to know the breed, and you have to know "how" to research their true valu

We are certified members of the American Society of Equine Appraisers, and regulated by the Appraisal Qualifications Board (AQB) in Washington, D.C. to assure that professional, personal property appraisers are fully qualified to do their work.

As part of our service we provide the estimated Fair Market Value based on a sales comparison approach. The premise of the comparison of the equine appraised is other similar equine sold at places like preferred breeder sales, racetrack affiliated sales, or private treaty. Using a number of recent orderly liquidation sales of similar horses for comparison, a composite figure is calculated which represents
Fair Market Value of the subject horses.

Equine Appraisals

With a Certified Appraisal you Will Receive:

  1. A statement of the purpose for which the appraisal was made, and a definition of value estimated.
  2. Description of the equine, copies of equine registry or foaling certificates, and all relevant supporting documentation used to conduct valuation.
  3. A summary of the facts upon which the appraisal is based.
  4. A statement of the conclusions reached, together with any applicable qualifications or limitations on the conclusions.
  5. Fair Market Value and Orderly Liquidation.
  6. Assumptions and limiting conditions.
  7. Appraiser's Certification.
  8. A statement that the appraiser has no present or contemplated future interest in the equine being appraised, or a full and complete description of any such interest that may exist.

Santa Fe Equine and

Santa Fe Horse Transport

are wholly owned subsidiaries of

Santa Fe Equine, LLC

A Florida company

Santa Fe Equine, LLC. All rights reserved.

About our Appraiser:

 Mario "Kit" Espin spent over 30 years as a breeder, trainer, and competitor of performance horses in Northern Idaho and Western Montana. He has attended thousands of equine sales, breeding farms, training centers, and competition venues. As a result, he has had the opportunity to evaluate most breeds for confirmation and pedigree.

Today, he specializes in racing Thoroughbreds and Performance Quarter horses such as cutting horses. He also has an extensive back ground on the Foundation bloodlines of the Appaloosa breed. He has owned Champion halter horses, and is a past professional rodeo bronc rider.

His daily involvement and handling of horses has led him to have a sound opinion of horse flesh that one can only acquire from "time in the saddle". His extensive knowledge combined with a formal education has provided him a well rounded background to conduct research and create "valuation models" in order to support sound, well founded appraisals. 


  • MBA in Marketing and Finance – Rockhurst University
  • B.Sc. in Engineering Management – Clayton University
  • ​PhD current a doctoral candidate at Montana State University
  • Attended college seminars on horse husbandry and equine nutrition
  • Equine Logistics Project Manager
  • Thoroughbred Farm Manager
  • Extensive experienced in Brand Marketing and Strategic Market Planning
  • Horse ranch owner and breeder for over 20 years
  • Speak Spanish very well

 Member of:

  • Florida Thoroughbred Farm Managers Association
  • Louisiana Thoroughbred Breeders Association
  • Texas Thorughbred Association
  • American Society of Equine Appraisers
  • American Quarter Horse Association
  • National Cutting Horse Association
  • American Paint Horse Association
  • United States Dressage Federation


Contact information:

  • (352) 390-7788 cell
  • mario@santafehorses.com
  • ​(352) 468-2155 fax