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What determines the value of a horse when sold?

I know that positive traits shoots the price up and that the "untrained" trait will drop it, but is there anything else that affects this price?


I noticed that a lot of the horses are considered "mixed" under "breeds", but you get a few actual breeds in there as well. Do the purebred horses fetch more money over the "mixed" ones? I never understood how the actual breed of the horse affected gameplay at all.



I wonder if there is a list/tutorial posted somewhere that goes into detail more about this?
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