In parts of the United States, herds of wild ponies still roam free. The most famous wild ponies live on Assateague Island, off the coast of Maryland and Virginia. The animals on the Virginia side of the island the Chincoteague ponies are owned by the Chincoteague Volunteer Fire Company. Every year, the fire department sells some of the ponies to raise money that will help care for the rest of the herd. Thousands of people attend the auction, and a few walk away proud owners of new pet ponies. Owning a Chincoteague pony isn't for everyone. Find out what it takes to own a wild Chincoteague pony, and you can decide if the pay off years of faithful companionship will be worth your while.