Your antiques retain stories of the past and can be worth lots of money in the present. Just how much they’re worth entails careful evaluation. Here are some tips to help you determine the value of your items.
1. Research Your Piece
One of the first steps to determining the value is doing background research. You want to use online resources to see how much the item is worth. Here are some sites to check out:
- Ruby Lane
- Antique Trader
- Collectors Weekly
- Heritage Auctions
- Kovels
You can also hire a professional appraiser. Start with your network and see if you can get trusted recommendations from friends. Another strategy is to ask an antique dealer at an auction house. When hiring an appraiser, check their reviews and certifications. Keep in mind you want to find one who is familiar with your specific item.
The appraiser will charge a flat fee or an hourly rate starting at around $150. You will then receive a written report, including the object’s value.
2. Compare It With Similar Items
To give you a better idea of the value, compare it with the prices of similar objects or luxury goods. Look online and see what other antiques have recently sold for. Check out sites such as eBay or Ruby Lane. You can also research common collectibles in price guides. Check out “Miller’s Collectibles Handbook & Price Guide,” for example. It features detailed descriptions and cost ranges for each object.
3. Understand the Marketplace
Along with knowing the value of your item, you also want to be familiar with the marketplace. When you go to sell, look into any extra fees the auction house may charge. For example, you may have to pay a commission of 20-50% of the sale price. Therefore, you may want to hire a professional to help negotiate the cost for you.
If you end up selling your antiques online, still do your due diligence. Understand the selling procedures for the platform. Keep in mind some sites may require a listing fee.
4. Be Purposeful With Restorations
Before repairing, consider whether it will add value to the item. Some restorations can cause pieces to lose their worth. Removing the patina, for example, which takes the form of surface wear or discoloration or oxidation, can devalue your things.
Another factor to consider is the extent of the damage. Minor damage, like fading or cracked finishes, can be left alone. Yet, pieces that are broken or have lost their original finish can be restored. Also, consider the risks of the repair process, especially if the item is valuable to you. If you’re still unsure about fixing the antique, consult a professional appraiser.
5. Check Out the Marks
If your antiques have a signature or designer mark, they are more valuable. These trademarks are often found on pottery, porcelain, and silverware. Here are some of the different types you may find:
- A maker’s mark
- A standard silver mark, guaranteeing the silver content
- A foundry mark, identifying the workshop
- A design registration
- A pewter touchmark
Use a magnifying glass to locate these marks. Once you find them, look into museums and universities to help with identification. The Smithsonian is an excellent place to start. You can contact an appraisal service as well.
6. Examine the Item’s Condition
When it comes to the value of your item, the condition is a critical factor. Any signs of chips, cracks, or missing components can devalue your piece. Keep in mind minor blemishes may give it value, but significant damage can be a dealbreaker.
You’ll want to clean the items as well. Suppose you have furniture? Dust off any cobwebs. Consider hiring a professional for fragile items to avoid any damage. If you have a classic car, make sure you detail the exterior and interior without changing the original finish or style.
7. Look Into the Item’s Rarity
The more rare an item, the more value it has. A hand-crafted vase with cracks may be worth more than a mass-produced item in better condition. Check out auction houses to get expert opinions on the rarity of your antiques. You can even review online catalogs or receive a valuation from an antique dealer.
8. Pay Attention to Its Age
While older items can be unique, age doesn’t always mean more value. Other factors, like demand, play a role. For example, many old postcards aren’t sought after by collectors. Many of these items are too common now to hold value.
Yet, a rare Santa Claus postcard dating back a generation or two can be worth more. The ones with the German version of Father Christmas are desirable to collectors, for example.
9. Make Sure It’s Authentic
Suppose you have an item that’s been passed down through many generations, and you know its provenance? It is most likely authentic. Yet, if you bought the object from a flea market, have it professionally authenticated.
Look for signs of wear and tear representing its age. Check for any marks or signatures as well. You can use a black light test on pottery to find signs of cracks or previous repairs. If newer paint was added, it would fluoresce under the light.
10. Know the Market Trends
Keep in mind pricing for antiques can vary depending on the demand. So, it’s essential to understand the current market value of your items. Suppose Disney released a new version of a movie, and you have collectibles of the characters from the original theatrical release? They could be extremely valuable.
Make sure to study the market value in your item’s category and stay on top of trends. Minimalist decor and natural wood products are current trends in the antique market.
Determining the Value of Your Antiques
Antiques can be beautiful decor or hold sentimental value. Yet, it may be hard to determine how much your collection is worth. Follow these tips for evaluating your pieces and getting the most value for your heirlooms.
