Living (and loving) Life
Antique items can come from a variety of different sources. You may have found your treasures in an antique store, or you may have inherited them. You may also have purchased items many years ago that qualify as antiques today. Regardless of how you obtained your antique items, chances are you would like to know their value.
Knowing the value of your antiques allows you to provide your insurance company with the correct appraisal amount. Having this information may also help in settling your estate, or it may help you sell the item for a reasonable price. In addition, some people like to know the value of their antique items just for peace of mind. Whatever your reason for obtaining this information, finding out more about your treasures is easy.
Getting an Appraisal
The easiest and most convenient method of determining an antique item’s value is through an appraisal. There are two main types of appraisals: written and verbal. A verbal appraisal is a more casual assessment of your item, while a written appraisal is an ironclad document that includes information about the item’s condition. Each appraisal method is useful in different circumstances.
Verbal antique appraisals are useful when you need to know the value of your item in order to sell it at an auction, consignment shop, or private buyer. To obtain a verbal appraisal, you must locate an professional appraisal and request the service. Make sure you ask about the price before you agree to the appraisal.
If you need to evaluate an antique for estate or insurance purposes, you will usually need a written appraisal. A written appraisal is more formal. The document you will receive will contain a detailed description of the item, its condition, and its appraised value. If you purchase a written appraisal, you must decide whether you want the insurance replacement value, estate and inheritance value, retail market value, or auction market value. To find a qualified appraiser, you can search online or check the yellow pages. Make sure you compare prices, services, and experience levels before you make your final choice.
Researching the Item
If you do not want to hire a professional appraiser, you can also try to research the value of an antique item yourself. Before beginning this process, you should make yourself as familiar as possible with the item. Take note of its condition and look for any inscriptions, logos, or markers that indicate its manufacturing date or company. You should also take several photos of the item from different angles.
You can research the value of your item in several different ways. One way is to visit your local library and look for a book that lists the values of common antique items, such as Kovels’ Antiques and Collectibles Price List. There are also books available that focus on a specific class of antique items, such as pottery or glass. If you do not want to visit the library but you would still like to use these books, you can buy them online or in bookstores as well. Try to find the most up-to-date edition of any antique pricing guide you consults as prices frequently change over time.
Another option for researching the value of your antique item is to search online. To start your search, you can input a few related terms into the search engine. For example, if you have an antique vase, you may search “antique vase worth” or “price of antique pottery.” If you know the maker of your vase or its year of manufacture, you can include this information in your search as well to get more specific results about the piece.
Finally, you can research the value of your antique items by using sites that focus specifically on the value of certain antiques, such as www.kovel.com. You can also visit eBay to see what prices consumers are currently paying on antique items similar to yours. In some cases, fanatical bidding may drive the price of a similar item up to an unreasonable point. For this reason, make sure you look at several different auctions of similar items to get a more accurate picture of your item’s worth. Keep in mind that you cannot use the item value you obtain from research for insurance or estate purposes.
Credits: Photo courtesy of Danica Jovanovic.