APPRAISING ANTIQUES: HOW TO BE AN EFFECTIVE
SELLER
AND INFORMED
BUYER
By marks4antiques.com
Evaluating antiques & collectibles to determine their worth is generally referred to as an Appraisal. There are several specific definitions of what constitutes a proper appraisal and all depend on its purpose. For an interesting overview on this topic, please see our articles for APPRAISALS & ANTIQUES VALUES: Part I - Some Definitions and APPRAISALS & ANTIQUES VALUES: Part II – What is an Appraisal? Once one decides on the type of evaluation needed for a particular purpose, it is imperative to seek and gather several examples of similar items, referred to as comps, to begin making realistic comparisons. Although in many cases, the beauty is on the beholder and some of us often buy items that we just like regardless of their real present or future value, when it comes to being a seller or serious buyer, especially in a professional setting, appraisals or valuations are part of doing your due diligence and performing your business duties effectively.
Auction records must be recent to be relevant for an Appraisal
Keys to an accurate evaluation for just about any type of antiques or collectibles include at least the following: 1) Use research resources that are as current as possible Because antiques & collectibles follow market trends, it is important that any pricing guides that you use include information as to when a particular item actually sold. If these records are more than 3 years old, you should take them with a grain of salt and perhaps extrapolate as needed per current trends in taste or popularity. There is one exception for items that are extremely rare for which recent records just don’t exist. In these cases, make sure to compound any inflationary changes to its value and also check for trends in style of similar items by other makers or artists. Location is also important as some items tend to sell better in certain regions, although nowadays with global and online tools for selling, this is a lesser concern unless you operate exclusively locally out of a brick-n-mortar shop. 2) Use only pricing references for items that have actually sold Price ranges and estimates based on what someone is selling an item online or at a shop do NOT constitute an appraisal. Price tags of unsold items are not comps. Other than for sentimental reasons, which are not a very accurate indicator of value anyway, only items that have actually sold should
be considered and taken into account when trying to determine the worth of an item. The “I saw this at a shop selling for such-n-such� has no bearing whatsoever in calculating a fair market value. For items that have not had any sales whatsoever, use the same estimation method as described in No. 1 above for older records, i.e. consider results for similar items. 3) Some antiques & collectibles are unique or were made in small
quantities - Finding the exact same item to compare may at times be impossible. Unlike most recent Chinaware or Decorative Arts smalls, most items were made only once and uniquely or in small numbers with some variations. If your reference guides do not have the exact same item listed, and likewise as above, you need to locate records of items that are similar enough and then compare. Look for similarities in maker, style, size, condition and age. This is an accepted method even for professional appraisers and not all comps used in formal appraisals are of identical items. This is true in just about any endeavor of estimating a price, most familiar example being that of Real Estate appraisals. 4) Start your research with specific terms, then go more general Be creative in your search and avoid using words or descriptions that are too specific or, for that matter, too vague. Partly for reasons explained in No. 3 above and partly because some of us may use different terms to describe the
Ewers, Pitchers or Jugs? same item, it is important to think outside the box and expand your ordinary vocabulary and knowledge. Looking for similar examples of items and reading their description often gives many clues as to what other words you could use. Specifically for online reference guides, entering a search for
“porcelain figurine model No 1179 made in England” will probably yield either no results or too many; in this case the “No 1179” is too specific and everything else is too vague. However, entering “Minton Porcelain Figurine” is just right. If “No 1179” pops-up, congrats!! - but instead, you will most likely get a much more relevant and manageable selection of items that you can then compare with yours and find a close match. [Btw, our antiques pricing guides use a proprietary behind-the scenes analysis to translate each query to related words used for the same item and also suggests more appropriate search terms if too long or vague. Because of these unique features, Check our antiques research tools at most of these issues marks4antiques.com are minimized and our results of auction records are more accurate. Additionally, all results are displayed in photos (visual search) that are easy to review right on your screen and instantly compare with your own treasures] 5) Use the right keywords when selling (or buying) - Just as it is important to use the right terms for an item when researching it to determine its worth, you should do the same when listing it online for sale. Buyers look for items using specific terms, especially on the Internet, and having the right keywords in the Title & Description of your listings helps to make sure that your items appear on the results. This not only increases your sales because your item will be found more often, but it also reveals that you have done your research and most probably priced it right. In other words, the confidence level of your buyers goes up a notch and you will be more successful in closing the deal. The most important keywords in these cases are the maker and style of an item and possibly its age. For example, describing an “Old Blue Tall Vase marked with a Lion and Flowers allover”
may not be such a great idea; instead use “Early 20thC Hutschenreuther Cobalt Blue Tall Floral Vase”, which is specific enough and much more informative.
In summary, whether you are a seller or a buyer, it is important to do your homework. In addition to dusting and cleaning your items for best appearances, it is absolutely essential that you also dust your knowledge and clear your mind of any pre-conceived notions of how to sell. Some old-timers may remember the days when setting up a booth to display their goods at Antiques Fairs and wearing that wide smile, was all that’s needed to sell. However, and as we have all experienced very frequently nowadays, this is very rarely the case anymore. Accurate keywords and complete descriptions are your best tool for successful sales online. In reverse, as an informed buyer you will find more items to enrich your collection and be more at ease when making decisions of what price to pay.
About marks4antiques.com - Currently celebrating its 10th anniversary of service, marks4antiques.com is dedicated to providing the largest and most updated research tools to help its members identify and appraise antiques & collectibles. Registered members have access to comprehensive visual reference methods with thousands upon thousands of images of makers’ marks & hallmarks displayed in Shape or Letter Categories for fast access or can use the proprietary Name or Initials Search features. Also includes a huge database of millions of actual auction records and uses a ‘smart’ search that quickly deciphers key terms using advanced software technology to yield accurate and relevant results. The company is located in the San Francisco Bay area since 2004.