April 18, 2017 at 3:36 pm #6529
Whether you are buying or selling, it’s important to understand what your pieces are worth. There are many ways to go about this both online and using printed guides. Utilizing these services will allow you to sell or buy furniture for a fair value, insure your best pieces for the appropriate amount, or simply satisfy your curiosity. Here at Interiors, a room at a time, you can ask questions, respond to questions or just join in the discussion. You can learn estimated values as well as information or history about your vintage item.
Several websites offer searchable databases to check out: eBay, Ruby Lane, Go Antiques, Chairish, Amazon, Invaluable, and 1stdibs. You can also use printed price guides to help you get an idea of your piece’s value, some of which are: Antique Trader, Miller’s Antiques Handbook & Price Guide, Kovels’ Antiques & Collectibles Price Guide, Warman’s Antiques & Collectibles, and Maine Antique Digest. It can also be meaningful to look up major auction house websites for your finer pieces; some have past sales that you can search. A few of my favorites are Sotheby’s, Christies Auction House, New Orleans Auction Galleries, Neal Auction Co, Charlton Hall Auctions, and Brunk Auctions. There are much more, so it’s worth exploring the region in which you live.
If you own valuable antique furniture, you may want to list it separately for insurance purposes. Typically, the insurance value of an antique item is the highest retail value for that item. In other words, it’s best to insure your antique furniture for the maximum amount of money it would cost to replace that item if it were lost or damaged. Typically, insurance companies will require you to get a formal written appraisal from a professional appraiser, meaning you will not be able to rely on furniture values from printed guides or online lookups. Instead, you’ll need to seek out a certified antique appraiser in your area.
There are several ways to value home furnishings which can be confusing. You have an estate or tax value: The IRS will determine the value by averaging the actual auction prices of similar items. Retail value or retail price: This is the price an item sells for at an antique shop. Wholesale value: This is the price that an antique dealer pays for a piece which is usually considerably less than they hope to sell it. Auction value: This is the open market price the item.
Some things to keep in mind when you are evaluating your vintage item: Was your vintage home furnishings expensive when you purchased it in relation to the cost of other similar items at the time? Make a list of everything you know about your item; this may include the manufacturer, the patent number, the materials used, and assess the items condition. The condition is a major factor in determining value. Is your item in good shape, decent condition, or does it need help? Lastly look up your item using several different sources, you may find that you receive different values from various sources which will give you a range to consider.
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