I agree with the abuse issue. On the other hand, however, quite often sale price for old equipment pieces helps financing new, better ones. Once you start playing you can afford only cheapest stuff, then you sell it to buy a new one. Now, it is impossible. It is temporary solution as I understand.
@chadz - does it mean that in next big patch we will loose all our items? In any other case guys that bought 20 horses will still be able to sell them