Without a doubt the most common question I am asked as an antique dealer is, “How much is my antique worth?”
It has always been my practice to not discuss values in this blog because of the variables involved in pricing an individual item, but there are numerous resources one can use to give you a ballpark idea of what the value is of your particular item.
While this post is on a pottery blog these rules can guide anyone interested in selling an item of any nature on the secondary market.
Condition, Color and Craftsmanship
Three very important criteria to consider when evaluating the value of a piece is in the 3 C’s: condition, whether it is repaired or as originally issued; its color, particularly when dealing with pottery; and its craftsmanship, or how well it was made. More than most other factors these will determine the price of a piece.
To these we can add a fourth C–collectibility. Collectibility in not necessarily determined by rarity, though it sometimes is, but more on desirability. With many very rare antiques the price factor doesn't really come into play because there is little demand for them.
For more on desirability go here. for more on the importance of color go here.
Price Guides
The most obvious way to find out the value of an item is through a printed price guide. Many books on antiques specialize in assigning values to particular items, however there are many limitations to printed guides like this. The market for antiques is constantly fluctuating. Reruns of the PBS show Antiques Roadshow illustrate a good example of this. Old episodes feature adjusted values at the conclusion of appraisals to allow for how the market has changed in the years between the original airing and a more recent appraisal. Intangibles like fad, desirability and the stock market can all affect the prices of antiques. This gives the printed price guide a built in obsolescence.
Certain companies that specialize in these guides like Warman’s Antiques, Miller's Antiques and Kovel’s Antiques take advantage of this to keep people interested in buying updated guides year after year. Before the invention of the internet these were the only venue for finding this type of information. This is probably the fastest way of getting a price, but to my mind not a very dependable method of finding the real value of your item.
Television
Before I move on, one word of advice when viewing programs like Antiques Roadshow. Appraisers frequently inflate the value of an item for the sake of drama on these shows. Whenever you see an appraiser offer an insurance value of an item it is often double the actual sale value of a piece. This is because insurance values are based on replacing an irreplaceable item retail, which is generally a 100% markup over its sale value. These programs are meant as entertainment, not a guide on valuing your antiques. For more on my thoughts on Antiques Roadshow go here
Retail Antiques Stores and Shows
This method involves comparing your item to one found in a local antique store or at a local antiques show. This method of pricing your item is more dependable than the printed guide because it gives a good indication of more current values than a printed price guide, but there are built in limitations to this as well. Dealers of antiques have varying levels of experience in evaluating the price of any particular item. If the dealer you are consulting has only a general knowledge of antiques, their expertise in a particular field is likely limited. They may well price an item based on a price guide they bought five years ago or something similar they owned ten years ago. No one can know everything, so they do their best based on their own resources and experience. Unless you are dealing with a dealer who specializes in a particular field you are likely to get an undependable price.
Collectors and Specialty Dealers
Collectors and dealers of particular fields of antiques are usually quite attuned to the market value of the items they buy and sell. Should you find one willing to generously share this knowledge with you, you can often depend on their advice, The biggest problem here is that most collectors and dealers keep their knowledge close to the vest and are unwilling to share this information with anyone lest they miss out of a good bargain on a piece they are interested in. Many dealers’ entire livelihood is dependent on the ignorance of sellers. The advice here is if you know someone with this knowledge who is willing to share it, you can depend on it, PROVIDING they know you will not sell them the item in discussion.
Auctions and Online Resources
Considering the fluid nature of the market, auctions both in person and on the web are usually the most dependable means of finding the correct value for your item. Online auction sites like eBay and LiveAuctions are an excellent resource for finding the value of your piece. A search of past auction results will bring up a number of examples similar or identical to your item.
The more recent the sale, the more reliable the result, If the item is sold through a general sale, the retail price is generally 50%-100% above the auction value. If it is a specialty auction, the value realized is usually closer to retail.
You should also consider the auction venue when considering prices. International premium auction houses like Sotheby’s, Christie’s and Doyle can usually command prices far above what the general value may be of a particular item. This has as much to do with their advertising resources and reputation as anything else. They usually only accept items above a certain price point and charge massive auction fees, sometimes as high as 60%, of the final auction value.
For more on eBay go here, For more on buying at auction go here.
Conclusion
Selling anything on the secondary market is a minefield full of traps. The more educated you become in the market of the item you are selling, the more likely you will be in concluding a fair, satisfying and successful sale.
