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September 25, 2012

The auction of Rita Crundwell’s prize possessions

by DePaolo Equine Concepts

The horse industry is all a buzz about the Rita Crundwell sale which wrapped up yesterday and raised over $4.78 million.  Crundwell is accused of misappropriating more than $53 million from Dixon county to support her equestrian hobby.  Tack, trucks, trailers and horses were all sold off to try to recuperate some of the funds for the county.

Highlights of the sale included World Champion stallion, Good I Will Be, who sold for $775,000.  Another top money pull was three-time World Champion halter stallion, Execute.

Several comments on the internet are posing the question to why Crundwell’s assets were sold off before her trial and possible conviction.  If she is found innocent then the money raised will be given back to her but it is at a fraction of what it was actually valued at.  She will not be able to get back any of the actual assets including her horses, tack and other possessions such as her diamond encrusted show halter.

The chief inspector for the US Marshals’ asset forfeiture division said that they have spent more than $1.3 million caring for the horses between May and August.  September expenses will top $300,000 and they just couldn’t afford to keep the hundreds of horses and care for them properly.

Good I Will Be (pictured above)

 

Execute (pictured above)

Top sellers

  1. Good I Will Be, a three-time world champion, for $775,000
  2. Execute, a three-time world champion and world champion sire, for $245,000
  3. I Execute Class, a five-time world champion, for $226,000.
  4. Pizzazzy Lady, a five-time world champion halter mare and world champion producer, for $126,000.
  5. IE Copy, a world champion and high point hunter under saddle, for $101,000.
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