I go to auctions all the time. It's a love hate relationship. I love the rush and getting horses for little money, but I hate the people that bring their horses there and clearly havent taken care of them. So far I haven't been burned- knock on wood. So you can get a good horse or a really bad horse. My old boss picked up some real winners... one of which bucked me off and cracked some ribs, sprained some fingers, lovely concussion, etc.
My first piece of advice- go to at least 4 auctions if you can and see how it works and what a decent price to pay is. As a general rule never trust a single thing the seller will tell you. If they lied, you're not surprised and if they didn't- yay!
What kind of horses go there? It depends on where you are and what kind of an auction it is. For a general monthly sale: QH's, some TB's, a lot of ponies, donkeys, mules, paints, some TWH's, foxtrotters, occasionally a paso, etc. Don't expect any fancy breeds. Most of them are unregistered or grade, but not all.
How much is it for a good horse?
Completely depends on the look, training, the sale, who's at the sale, how much time the auctioneer spends on the horse, what you're looking for, what time in the sale it is, how the horse acts in the ring, etc. I saw a really nice reining QH mare go for $500. Her training would have cost way more than that. Do not get involved in a bidding war- set a limit and don't go over it. I usually spend around or under $400.
Will I need to arrange a trailer?
Yes, if you're planning on buying you will need to bring a trailer, a halter and lead rope, some grain, and hopefully a friend or experienced person to help. The seller will almost never be there to talk to you or tell you about the horse, they won't sell anything with the horse either. Generally if they're the kind of owner to sell a horse without caring where it ends up, they don't care at all. Not always true, but generally. Oh and bring cash. Most sale's wont take anything else. I usually bring $800-1000 just in case. I'd rather have too much than not enough.
What should I look for in a horse at the auction?
If it's the kind you can walk around beforehand- go at least an hour to two hours early. Bring a notebook and pencil- check out all the horses and write down the number and characteristics of the horse's you're interested in. Look at their feet- if they're long and splayed the horse probably hasn't been well cared for and worked much. Hair that's matted and tangled usually means it's been out to pasture for a very long time and hasn't been ridden much or for a while.Look for old scars, proud flesh, rub marks, good knees and joints. Check their top-line and conformation- very important. Look at height and things like them being ewe-necked. Check for bites and cuts. Gashes on the legs and face generally mean the horse struggled when they tried to load it. This means it hasn't been trailered much if ever and usually not worked much. Check for old glue residue around the tail or butt area- this could mean it was just at another sale and the person took them right back. See if they kick and bite. See if they'll come to you if you have a carrot or something.
Look for: Horses tied up away from the others, horses tied up very short- both could indicate a kicker or striker. Horses with the seller around to answer questions- a good seller will be there and may even let you ride the horse. Saddle sores, good hooves, teeth/age, sway backed- do not trust a horse with a saddle on and tied to be broke. If you see a sweet horse and pet it and it just stands there no matter what you do, has glassy eyes and is in the same spot after 20 minutes- give it up, it's drugged. Extreme sweat marks before entering the ring- has probably been run to exhaustion just before the sale. Just because there's a kid on it doesn't mean it's kid broke. There's not a lot of room to move and more horses are so scared they won't do much. I rely a lot on my gut- if I dont feel good about a horse I wont get it.And most importantly, is it worth it? If you know what you're doing, know the type of sale, know who the dealers are, feel comfortable working with all types of problems, including physical and mental, yes. If there's any type of horses you don't feel comfortable around- no. The first thing I do when I get them home is worm them, feed them, trim their feet, show them the water and salt block and get them on supplements if needed. You could get a great horse or a terrible one. Be careful when grooming and riding them at first. The horse probably hasn't had food or water for at least a day so watch for complications.