It is quite possible to buy a good horse for a low price at an auction, but there are often more problem horses than good horses so you need to be able to tell the difference. At most auctions, horses are sold ‘as-is’ and without guarantee, so if you find a problem afterwards you likely won’t be able to get your money back. Therefore, you need to do your homework in advance to pick out which ones meet your criteria, after eliminating the potential problems (e.g. injured, sick, bad habits, or behavioral issues).