March 16, 2008
Appraisers Offer Advice on Selling Antiques and Collectibles
Jason Salzenstein READ TIME: 4 MIN.
RESTON, Va.- Many people will find themselves cleaning out their attic or garage this spring and looking at things that were inherited, or bought at yard sales flea markets or antique stores and wondering what it's worth, and how to sell it. The American Society of Appraisers offers advice to people who want to sell their antiques and collectibles.
"Many people own or have inherited things that they don't want or need, but they don't know what the items are worth, so they don't know how they should go about selling them and what they should expect to receive," says Vivian Riegelman, accredited senior appraiser of the American Society of Appraisers. "There are a range of places to sell items from auction houses to yard sales, consignment shops, to on-line sites. However, the fear is that you'll sell something cheaply that is actually worth much more."
For people who have a number of items that they think might be valuable but aren't sure; one way to get an answer is to hire an appraiser to act as a consultant. Many appraisers will do a walk-through at a client's home, and for a consulting fee will advise people about which things might be valuable and offer suggestions as to the best place to sell the items. This is different than getting an appraisal of the items. An appraisal will assign a value to an item and will give a description and background about the piece. An appraisal cannot be done on the spot.
"I do what I call a home triage," says Mark Grove, an accredited senior appraiser of the American Society of Appraisers. "I might spend an hour or two walking though a client's home, and while they take notes I advise them - this should go to a yard sale, or this can go to a catalogue auction." He continues, "Although I am not doing an appraisal, or providing them a value for each item, they find it helpful to know which items might be valuable and merit an appraisal, and which items could be sold at what type of venue."
Some outlets for selling collectibles and antiques include:
Local weekly auctions. Local auction houses also hold regular catch-all auctions that sell a variety of items which are normally less valuable than items included in the catalogue auctions
If consumers feel they have items that might be valuable, they should consult an appraiser. When hiring an appraiser, hire only accredited appraisers from an established national organization like the American Society of Appraisers. Don't use an appraiser who offers to buy the items or charges you based on a percentage of the item's value; that's a conflict of interest
Keep the appraisal report with your other legal, estate planning documents. Appraisal reports are recognized by courts as reliable testimony to the value of your possessions. They combine in one place the documentation, identification (including photographs) and a value for your property.
To find an appraiser or to learn more about appraisals, go to www.appraisers.org
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Jason Salzenstein is a writer and editor; design, image, and marketing consultant; and professional shopper. His work has appeared in numerous national and international publications and he has clients around the world. For more information :: www.JasonSalzenstein.com