Antique Appraisals
From comics to posters to furniture, antiques are charming links to the past that many people enjoy collecting and sharing. However, while some antique collectibles can go for hundreds or thousands of dollars, others are only worth the sentimental value the owner may have for them. Whether you own a few antiques or are thinking of buying some, getting accurate antique appraisals can give you an idea of how much antiques are really worth.
Before Getting an Antique Appraisal…
When getting an antique appraisal, finding an appraiser who comes recommended through a credible source is a good idea. Your bank's manager or your attorney are good possible sources because it is likely that they have dealt with appraisers before and know who to trust. A friend or family member may also be able to point you to a good appraiser.
Once you have a few recommendations of possible antique appraisers, narrow down your choices by following these steps:
- Avoid services that charge you a percentage of the antique's value. In these cases, the appraisal will probably overestimate the value of the item so that the appraiser can charge you a larger fee for his services. Keep in mind that a trustworthy appraiser will charge you an hourly fee to perform an antique appraisal and will have no personal investment in your item.
- Be wary of an appraiser who wants to buy the item. If an appraiser wants to buy the item you are evaluating, he will likely value it for less than it is worth so that you will set a lower price for him. Consequently, finding a neutral, unbiased antique appraiser will ensure that you are getting the most accurate valuation of your antiques.
- Consider the appraiser's specialty. From the list of possible antique appraisers, cross off ones that don't specialize in items like yours. For example, if you are looking to get an antique furniture appraisal, you’ll probably want to avoid someone who mainly specializes in antique book or art appraisals.
- Interview a few different people before deciding whom to hire. Ask about the appraiser's experience and credentials. Good, experienced antique appraisers will have the proper credentials and should be able to give you contacts of past clients who were happy with their services.
What to Expect from an Antique Appraisal
To get an accurate price, plan to have a face-to-face meeting with the appraiser. Before looking at your antique, the appraiser will first sit down with you to find out why you want the appraisal because this can affect his valuation of the antique. For example, antique appraisals for insurance purposes will likely be valued higher than those for tax purposes.
During an antique appraisal, your appraiser will closely inspect the item and may take pictures of it so he can continue his work after you have left. He will look at the condition of the item to see if it has been changed or damaged in any way over the years. Other factors considered include:
- any special markings on it
- how long you’ve had it
- the material from which the antique is made
- the size of the object
- what people would be willing to pay for the antique on the open market
- where you got it.
After taking all of these factors into consideration, your appraiser will give you a full report on the condition and value of your antique. These reports allow you to have legally binding proof of the appraisal results for whatever purpose you may need it in the future, including for divorce settlements, insurance claims or tax reasons.
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Appraising Antique Toys
Action figures, comic books and other such items are a favorite of many kids. While some parents see these as junk to throw out when kids get tired of them, they can actually be quite valuable. These, along with sports cards and other memorabilia, can bring in hundreds or thousands of dollars if they are kept in good condition. |
Online Antique Appraisals
While those getting antique appraisals would traditionally bring their antiques to an appraiser's office, today, many Web sites offer low-cost or free antique appraisals online. All you have to do is e-mail a picture of the antique and answer a few questions in an online form.
However, although online antique appraisals can save you the hassle of hauling around your potentially precious antique, they don't provide you with the most accurate valuation of your antique. Keep in mind that the best way to find the most accurate assessment of your antique's value will come through a first-hand inspection of it. For this reason, experts say you may want to avoid using an online appraiser if you plan to sell or insure the item. Yet, if you are just curious about an approximate valuation of your antique, free online appraisals are a good option.
Protecting Yourself Before an Antique Appraisal
Making changes to any antique prior to getting it appraised is a bad idea and a mistake many people make. People do this to improve their item and make it more valuable. In most cases, however, this actually does the opposite. It is also not a good idea to rely on published books to get a value for your item, since value can change over time. This is especially true for collectibles and other memorabilia.
Resources
Crawford, Jim (n.d).
What’s this worth: How to use the internet to research the value of your antiques and collectibles. Retrieved September 1, 2009, from the Crawford Direct Web site:
http://www.crawforddirect.com/worth.html.
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