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Do You Like Collecting Antiques? Here’s How to Recognize Value

The antique industry has grown significantly over the past decade, as many people continue to develop an interest in adding collectibles and antique items to their homes. For an item to qualify as an antique, it needs to be at least a hundred years old.

Collecting Antiques

Most of us often sit on treasures in our homes, without knowing the real value in the current world. Maybe you recently brought in an old table from your grandparents’ house. Probably you have an old painting passed on to you by your grandfather. It could be a childhood toy in the form of a carving.

Whatever it is, determining its real value can be very tiring and time-consuming. It could also be quick and enjoyable. The value of an antique is defined as the amount of money someone is willing to pay for it. You need to take a few steps to determine how much your antique item is worth so you do not end up selling a valuable commodity for peanuts. Read on for more.

1. Do Your Due Diligence

First, you need to have some basic knowledge about your item. If you have antique furniture you want to see, make sure you know what kind of furniture it is. Reference books on antiques can provide you with all the details you need.

Once you know the kind of item you have, check any local antique stores to find similar items and what they sell for. Also, compare the conditions of the items on sale with your antique product. Identify any difference in the material, manufacturer, or style, as they can have a significant impact on the value of an antique product. Unless you are sure you cannot sell to an antique store, do not let them appraise your product due to a conflict of interest.

Online auction sites and price guides can also help you determine the value of an antique item. You can use such sites to find similar items and what they have sold for. However, most auction sites have lower prices since they are incredibly competitive.

2. Hire an Antique Appraiser

Appraisers offer the most accurate valuation for vintage and antique items. Before you even hire an appraiser, know the kind of value you want to determine through the appraisal. You can get different prices from an assessment depending on how you want to sell the item in question. The auction value refers to the amount the product will potentially sell for at an auction. Retail value refers to the amount you can expect to get for your antique product if you sell it at an antique store. The insurance value comes in when you have no intention of selling your treasure. It is the total amount you will need to replace the item in a reasonable timeframe if it is stolen or destroyed.

Always stick to working with reliable appraisers who will provide accurate information. Avoid any appraiser that wants to make a good deal from buying or selling your item. Similarly, do not work with an appraiser that charges a percentage of the value of your item as commission for their services.

Collecting Antiques

3. Get an Online Valuation

Different websites exist to help you determine the value of an antique item. They can help you with other questions, for example, how many years old is vintage? When choosing an online valuation site, go for one specializing in the kind of item in your possession. An antique website that deals in antique furniture may not help much if you have vintage toys or collectibles. After finding a reliable website, send them the photos of your item, and you will receive an estimate of its value in a couple of days.

Since the valuation you get from an online appraiser depends on the photos of your product, make sure you take clear pictures from every angle. If the item features any distinct details, take up-close photos of them. Also, make sure that the photos clearly show any flaws so as not to misrepresent your item. It may get you a higher value in the estimate, but it will not reflect the selling price.

If you opt for an online appraisal, you should note that it may not offer an accurate valuation of your product. However, it may work well if you are not sure if the value of the item warrants the services of an in-person appraiser, as they charge more for their services.

In conclusion, determining the actual value of an antique item comes with various challenges. It will help if you consider lots of variables that may affect the actual price of the item. However, having your antique item appraised gives you a good idea of how to price it, so you do not sell it for a meager amount or set an extremely high price that wards off potential buyers.

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