Vintage Vignette - March 2015

Junk In Your Trunk
The Etiquette of Valuing and Hocking Your Treasures

by Martha Whitney Butler
- This month - We have a saying in the antique business: "It's only worth what someone will pay for it."

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The Blue Rose Estate Sales

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We have a saying in the antique business: "It's only worth what someone will pay for it."

That phrase usually passes over my lips once a week, mostly when I'm attempting to educate someone who is seeking my advice on selling an item. The fact is, the sentiment you attach to Grandma's depression glass might not fetch the wealth you'd imagine at auction. On the brighter side of things, if it happens to be a rare piece of Anchor Hocking, then you might have something on your hands.

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Primitive Lures at Antique Maison

When diving into the world of collecting and selling, it is important to understand the term "fair market value". According to valuethisnow.com, "Fair market value reflects the amount of money most buyers pay and most sellers accept for a comparable property sold at retail, i.e., to the end consumer." So while you may have paid ten dollars for an item twenty years ago, it's value today could be one hundred dollars depending on how like items are selling in today's market.

The best resource to find out how much your antique item is worth is your local antique store. Most of the time they are happy to look at your item and tell you it's history. But please call and schedule an appointment first! Some shops offer this service for a nominal fee, and include printed information and resources. You can also schedule an appraisal for items of high value. Please do not show up at a store on a busy Saturday and ask the owner to abandon their post to come view something in the trunk of your car. That's so Ted Bundy.

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Time After Time at Bay Emporim

Another rule of thumb: you can either ask to have the item valued or sell the item. NOT BOTH. Fair market value does not apply to wholesale. In order for a buyer to make money, they need to purchase the item for less than it is valued. #Retail101

Any reputable antique dealer will offer you a fair price for your object, but be warned: this offer only stands in that moment. While you do reserve the right to shop around for the right buyer, remember that you're dealing with a tight-knit community of antique enthusiasts where phone calls are faster than feet. So if you're courting all of the shops on the same street, chances are the shop owners know who you are and what you're selling before you even walk through the door. Much like the dating world, you might get the cold shoulder in a situation like this.

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Countryside Antiques

Be prepared when going in to sell something. If you're selling expensive jewelry or sterling silver, arm yourself with it's provenance. All too often, dealers are met with suspicious items or people, so always prepare for scrutiny and don't take offense. There are plenty of online and library resources to help you gain the knowledge needed to effectively assess your object. If you are in negotiations with a dealer and you begin with, "I saw it on eBay for..." you might be met with an eye roll. While people LIST items on eBay, they don't always SELL them.

TIP: When viewing items on eBay, select "Sold Listings" to see what the item has actually sold for. To calculate an idea of value, average the lowest and highest sold items. By doing this, you can determine a (very superficial) fair market value. If you find the items on auction pages, some will reveal the selling price of an object. You may look at predicted auction prices to get a broad scope, but in reality- it's only the selling price that counts.

You must remember that your items matter most to you, and if you have any hesitation to sell, then don't. No dollar sign will ever replace the regret of hocking a piece of a loved one or a special memory. If you do have items to sell, call your local antique stores to schedule an appointment for viewing. See the the Cleaver's exclusive Bay-Waveland Antique Directory for local stores. 

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Magnolia Antiques