Program

Undoubtedly, the single most frequently asked question of collectors - a common thread which runs through all collecting areas - is "How much is it worth?" This is a typical reaction when we find something interesting, particularly if it fits into one of our colletions.

Even if we are not a collector, the question often comes up. Perhaps you have received a gift from a friend or have the responsibility of disposing of a collection which belongs to an elderly relative. Often the question is like this, "I just found this old (fill in the blank) in my parents' basement, and I was wondering..." Whether you would like to know the value for insurance purposes, to settle an estate, for possible sale, or simply out of curiosity, it doesn't matter. The question remains, "How much is it worth?"

Finding the "right" answer...and where you find it...is extremely important, and may not necessarily be easy. Oh, you'll find plenty of people with opinions. Some may even consider themselves "quite the authority." But is their opinion correct? Sometimes (and usually most of the time), bad advise is worse than no advise at all.

For many collecting areas there are existing price guides - sometimes several from which to choose. But as the name implies, use these references only as a "guide". If possible, find out the philosophy of the author. Are they knowledgeable and uptodate? Did they "low ball" the prices in their book because they were writing it primarily for dealers to show perspective buyers realistic prices? Did they inflate prices to establish an inflated market for the area covered because they wanted to sell their personal collection? Never use a price guide as a single source for determining an item's value.

There are many excellent price guides on the market. It is recommended if at all possible to review the price guide before purchasing. Book stores, libraries and some antique malls have large selections available for brousing.

With the Internet readily at our disposal, seeking values is both much easier, yet can be more complicated, trying to determine which option to choose.

Again, there are dozens of sites which offer price guides of various types - most of these are free information but some charge a small fee. There are general antiques and collectibles sites and some for specific collecting areas. Some of these are listed in the Appraisal Services section of this program area. There are also several professional appraisal associations which can offer advise on selecting a professional appraiser. These associations are listed under Appraisal Resources section in this program area.

If you feel you are in need of a professional appraisal, particularly for insurance or estate purposes, be prepared to pay a fee. Professional appraisers normally do not offer appraisals for free, nor should they. You may decide to e-mail dealers who carry inventory similar to what you are seeking a value on and may well get free advise this way, however more and more antiques & collectibles dealers are not responding to these requests. Why? Because they've been taken advantage of by those who send the same query out to 10, 20 or even 100 dealers asking for free opinions on values, finding they get enough back to make an educated judgment that will be fairly accurate. (This is particularly a problem with some who have an item they want to place in an Internet auction and want to know a quick value for establishing a reserve for the item.) Rather than doing their own homework, it is easier to mass-query dealers asking for a free appraisal. In the past couple of years this has become such a problem of epedimic proportions that some dealers with a broad inventory may get several dozen queries for values in a single day! This is not a recommended method for soliciting the values you are seeking.

In addition to the appraisal sources listed in this program section, watch for shows and antique shops or malls in your area for appraisal clinics. This is an excellent way to get a good idea of value on a single item or two. Some of these are offered free of charge. Others charge a small fee or ask for a donation.

If you are seeking advise on an item or a collection in which you have a strong interest as a collectable, check to see if there is an established collecting club serving that collecting area. (There is a club directory on this website.) Joining a collecting club is an excellent way to gain knowledge about your collection, including values, but it may take some time - perhaps several years.

Many of the publications serving the antiques and collectibles industry offer pricing features and Q&A columns that often deal with values.

If you are seeking advise on values because you are interested in selling your collection, or the item, and are interested in getting the best possible price, you have several options. Local hobby stores, antique shops and malls and dealers contacted at shows may all be good potentials. Local auction houses, specialty auctions and online auction sites should be part of the consideration. Remember, if you consign your collectible to an auction house or hobby store, you can expect to pay a commission fee. If you sell the item to a dealer, don't expect to get the top value on the item or collection; the dealer must be provided some room to make a profit, too! Selling an item or collection directly to a collector is one of the best ways, IF you can find the right collector to purchase your item.

There are many sources for values or appraisals. Regardless of your choice or decision, here are a few pointers to remember:

Try to use more than one single source for comparison purposes.
There is often a geographic difference in values of the same item from one locality to another due to local interests, supply & demand, local economy and cost of living, etc. Be aware of this.
Many values, particularly in price guides, are based on the condition of the item being very good to excellent. If your item has any problems or defects, be prepared for the value to be substantially less than the quoted value.
A professional or certified appraiser is probably going to cost you money. Depending on the purpose, an appraisal may not be necessary.
In many collecting areas in today's market, prices are very "fluid". In other words, unfortunately, some `hot' collectibles today may be `cold' tomorrow, and sometimes the opposite. If we are talking here about an entire collection rather than one or two items, do a periodic analysis of market trends and values on a regular basis. Just like the stock market, is it a good time to sell...or not.