Lots of people have interesting antiques and collectibles in their homes. Antiques are objects that are 100 years old or older, while collectibles are interesting objects that are less than 100 years old.[1] Maybe you’ve wondered how much that heavy old table your grandparents used to eat dinner at is worth. Or maybe you’ve sifted through your childhood toys and wondered what you could get for them. Trying to determine a good selling price can be tedious and drawn out or it can be quick, simple and even fun. The value of any antique or collectible is defined as what someone is willing to pay for the item on a given day.
[Edit]Steps
[Edit]Doing Your Homework
- Learn more about your item. It’s important to have a baseline of knowledge about the kind of item you want to sell. If you’re selling your grandparents’ old dining room table, it might be useful to find out what kind of table it is (style, material, and, if possible, who made it). You can find this kind of information in general reference books on antiques. [2] Most libraries have a section on guides for antiques and collectibles. [3]
- Once you identify your item and get a ballpark value, it will be easier for you to figure out a good price for that item.
- Browse antique stores in your area. Look for items similar to the one you want to sell. Compare the condition of the items for sale to the condition of the one you have. Check for any differences in style, material, or maker. Then check how much the dealer is trying to sell the item for.
- You might even want to talk to the dealer—ask about why they priced the item the way they did.
- Beware: While antiques dealers can be helpful in determining a ballpark price for your item, you should ever ask them (or allow them) to appraise your item unless you know for sure that you will not sell your item to them. It is considered a conflict of interest for a dealer to appraise an item they intend to buy. If a dealer offers to buy an item after valuing it for you, say no. [4]
- Check online auction sites. Ebay, Amazon, and Craigslist are all useful sites for finding out how much people are willing to pay for items like yours. On Ebay, you can search for similar items which have recently been sold. This will help you to see what people are actually willing to pay for items like yours.
- Keep in mind that these sites are highly competitive, so their prices tend to be on the low side. If you want to get the most money possible for your item, online auction sites aren’t the best gauge.
- Check online price guides. Price guides list different types of antiques or collectibles along with a range of prices you can expect to get for them. Kovel’s is considered to be the best online guide for antiques and collectibles. You can get a free subscription or pay a yearly fee for its premium services. [5]
- Decide what kind of value you want to find out in your appraisal. Appraisers can give you several different kinds of price values, depending on how (or if) you want to sell your item.
- Auction Value – The auction value is the amount that your item would be expected to sell for at an auction. Very rare or valuable items are often sold at auction because people are willing to spend more. However, items that are less rare or valuable tend to go for less at auction than they would at retail price, because there is not much demand for them.
- Retail Value – Retail value is the amount of money your item would sell for in an antique store. If your item is not rare and you don’t expect its value to be high, the retail value is likely to be higher than the auction value. Remember, though, that an antique dealer will not buy your item from you at full retail value; if they did, they wouldn’t be able to make a profit.
- Insurance Value – If you decide that you don’t want to sell your item, an appraiser can also assess its insurance value. This is the amount of money that you would need to replace your item in a “reasonable amount of time” if it is destroyed or stolen. This is useful is your item is especially valuable. [6]
- Don’t alter your item before you have it valued. Many people think that their item will be worth more if they clean it up before having it appraised. However, “restoring” or otherwise altering an item without talking to an expert first often has the effect of lowering the value of the item—sometimes by a lot. Keep your item just the way it is—flaws and all. [7]
[Edit]Using an Appraiser
- Hire a professional appraiser. It’s important that the person who appraises your item is a trustworthy professional. You don’t want to waste your money on an “appraiser” whose information is not correct.[8] It’s also important to hire a professional appraiser who is not also a dealer because they will not have a conflict of interest when appraising your item. [9] Here are some tips for picking the right appraiser:
- A trustworthy appraiser will never offer to buy your item from you. If they do, kick them to the curb.
- Never hire an appraiser who will charge you a percentage of the value of your item. A trustworthy appraiser will charge a flat or hourly fee for their services. This fee can be several hundred dollars.
- Get references for trustworthy appraisers. Estate attorneys, antique dealers, and others who work with appraisers regularly are good resources for finding an appraiser. You can also find an appraiser through professional organizations like Appraisers Association of America, Inc. and the American Society of Appraisers.
- Talk to several appraisers before choosing one. You’ll want to pick an appraiser who specializes in the kind of item you want to sell. Make sure to ask for a written estimate of the kind of fee the appraiser will charge and how long the appraisal will take. [10]
- Go to an auction house appraiser. Auction houses like Sotheby’s and Christie’s also offer appraisals. Sometimes—but not always—these appraisals are free. To find out when the auction houses near you are offering a free “valuation” or “appraisal day” to the public, check their websites. [11]
- Get a written report of your appraisal. A good appraiser will give you a written report that includes a detailed description of your item as well as a thorough outline of the steps the appraiser took in valuing your item. [12] It will also include the reasons for the appraisal and a list of who handled your item (if there was more than one person). The appraiser should give you an exact number for the item’s worth, rather than an estimate. [13]
[Edit]Getting an Online Valuation
- Find the right website. There are lots of websites where you can get your item appraised by a professional appraiser. Search for websites which specialize in the kind of item you are trying to sell. Lots of websites are geared toward very specific kinds of antiques or collectibles, from furniture to stamps to vintage toys.
- Once you choose your appraiser, you will send them photos and descriptions of your item. Usually within about a week, the appraiser will send back an estimate of your item’s value. [14]
- Take good pictures of your item. Because online appraisers depend on photos to make their valuations, it’s important that the photos you send are high in quality. [15]
- Send photos of the item from every angle. Include close-ups of any distinct details in your item. Make sure your photos are well-lit, in color, and not blurry.
- Don’t hide any flaws in your item or misrepresent it. Don’t alter your photo to make your item look better than it does in person. Make sure to include photos of any damaged parts of your item, as well. Hiding or omitting flaws may get you a higher valuation for your item, but that value will not carry over when you try to sell it.
- Be prepared to pay for your appraisal. The upside of using an online appraiser is that they are less expensive than in-person appraisers. Online appraisals vary in cost, but you can expect to pay at least $10-30. [16]
- Take internet appraisals with a grain of salt. Because online appraisers don’t come in contact with your item, their appraisals cannot be as thorough as you’d get from an in-person appraisal. The best way to get an accurate appraisal of the value of your item is to hire an in-person appraiser. [17]
- It might be useful to get an online appraisal if you’re not sure whether your item is valuable enough to be worth paying an in-person appraiser.
[Edit]Using a Price Guide
- Look for price guides specializing in items like yours. A price guide is a book full of descriptions of specific types of items (antique furniture, baseball cards, stamps, etc.), along with the prices you can expect to get for each item. The best guide to use will depend on the kind of item you want to sell. [18] Kovel’s, in particular, is a highly respected publisher of price guides. [19] Many libraries have price guides on their shelves, too.
- Choose the right price guide. Make sure that your price guide is up-to-date and recent. Because the prices of antiques and collectibles change depending on markets, an outdated price guide will not give you an accurate idea of how much your item is worth. [20]The best price guides will also include plenty of pictures of the items included in its pages.
- Take pricing from price guides with a grain of salt. The descriptions and values listed in price guides are general estimates. They cannot account for the wide variations in the quality and condition of specific items, economic conditions, or demand in specific regions. [21]
[Edit]Video
[Edit]References
- ↑ https://hobbylark.com/collecting/AntiquesandCollectiblesHowtoValueandSellYourOldThings
- ↑ http://money.cnn.com/2002/06/03/pf/yourhome/q_appraise/
- ↑ https://hobbylark.com/collecting/AntiquesandCollectiblesHowtoValueandSellYourOldThings
- ↑ http://www.huffingtonpost.com/jim-t-miller/how-much-your-old-stuff-i_b_5384181.html
- ↑ http://www.consumerreports.org/cro/magazine/2012/10/how-much-is-your-stuff-worth/index.htm
- ↑ http://www.pbs.org/wgbh/roadshow/tips/value.html
- ↑ http://money.cnn.com/2002/06/03/pf/yourhome/q_appraise/
- ↑ http://www.consumerreports.org/cro/magazine/2012/10/how-much-is-your-stuff-worth/index.htm
- ↑ http://www.consumerreports.org/cro/magazine/2012/10/how-much-is-your-stuff-worth/index.htm
- ↑ http://money.cnn.com/2002/06/03/pf/yourhome/q_appraise/
- ↑ http://www.consumerreports.org/cro/magazine/2012/10/how-much-is-your-stuff-worth/index.htm
- ↑ http://www.consumerreports.org/cro/magazine/2012/10/how-much-is-your-stuff-worth/index.htm
- ↑ http://money.cnn.com/2002/06/03/pf/yourhome/q_appraise/
- ↑ http://www.consumerreports.org/cro/magazine/2012/10/how-much-is-your-stuff-worth/index.htm
- ↑ https://www.reference.com/hobbies-games/can-antique-price-guides-ec0254eb47430b6#
- ↑ http://www.consumerreports.org/cro/magazine/2012/10/how-much-is-your-stuff-worth/index.htm
- ↑ http://money.cnn.com/2002/06/03/pf/yourhome/q_appraise/
- ↑ http://www.consumerreports.org/cro/magazine/2012/10/how-much-is-your-stuff-worth/index.htm
- ↑ https://www.reference.com/hobbies-games/can-antique-price-guides-ec0254eb47430b6#
- ↑ https://www.reference.com/hobbies-games/can-antique-price-guides-ec0254eb47430b6#
- ↑ https://hobbylark.com/collecting/AntiquesandCollectiblesHowtoValueandSellYourOldThings
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