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b. Petitioner’s Horses
Petitioner’s only evidence of the fair market value of
her horses is based on the testimony of an expert witness,
Janine Esler (Ms. Esler). Ms. Esler is a professional horse
trainer, breeder, bloodstock agent, and business consultant.
She has trained Arabian horses since 1975. Her experience
is sufficient to qualify her as an expert in the Arabian
horse field. However, we find that Ms. Esler’s expert
report does not provide reliable valuations of petitioner’s
horses.
Rule 143(f) states that a witness’s expert report
“shall state the * * * opinion and the facts * * * on which
that opinion is based. The report shall set forth in detail
the reasons for the conclusion.” (Emphasis added.) In her
report, Ms. Esler did not disclose her method of valuation.
At trial, she testified that she used “comparable values of
horses”, but she could not be more specific. Ms. Esler
further testified that a horse’s pedigree, health condition,
training history, and performance history are all factors to
be considered in determining a horse’s fair market value,
yet these factors are not mentioned in her report. In
addition, Ms. Elser testified that it is important to view a
horse from all angles and to watch the horse walking both
towards and away from the observer. However, Ms. Esler
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