The young man now resolved to go to the hut where his old parents lived; and they were glad to see that he had come back to them once more.
Next morning, the son said to his father: "Now, father, I will show you what I have learned. I will change myself into a beautiful horse, and you must lead me into the city and sell me, but be very careful not to give away the halter, or else I shall remain always a horse!" Accordingly, in a moment he changed himself into a horse of extraordinary beauty, and the father took him to the market-place to sell him. Very soon a great number of people gathered round the horse, wondering at his unusual beauty, and very high prices were offered for him; the old man, however, raised the price higher and higher at every offer. The news spread quickly about the city that a wonderfully handsome horse was for sale in the market-place, and at length the king himself heard of it, and sent some servants to bring the horse, that he might see it. The old man led the horse at once before the palace, and the king, after looking at it for some time with great admiration, could not help exclaiming, "By my word, though I am a king, I never yet saw, much less rode, so handsome a horse!" Then he asked the old man if he would sell it him. "I will sell it to your Majesty, very willingly," said the old man; "but I will sell only the horse, and not the halter." Thereupon the king laughed, saying: "What should I want with your dirty halter? For such a horse I will have a halter of gold made!" So the horse was sold to the king for a very high price, and the old man returned home with the money.
Next morning, however, there was a great stir and much consternation in the royal stables, for the beautiful horse had vanished somehow during the night. And at the time when the horse disappeared, the young man returned to his parents' hut.
A day or two afterwards the young man said to his father: "Now I will turn myself into a fine church not far from the king's palace, and if the king wishes to buy it you may sell it him, only be sure not to part with the key or else I must remain always a church!"
When the king got up that morning, and went to his window to look out, he saw a beautiful church which he had never noticed before. Then he sent his servants out to see what it was, and soon after they came back saying, that "the church belonged to an old pilgrim, who told them that he was willing to sell it if the king wished to buy it." Then the king sent to ask what price he would sell it for, and the pilgrim replied: "It is worth a great deal of money."