When appraising antiques or collectibles, there are many factors to consider. Sometimes it is simply a matter of knowing the value of an item before trying to sell it, or of knowing its value, as in the case of heirlooms. In other cases, you may need a more formal appraisal for insurance or other purposes. The "value my antique" strategy ranges from self-assessment to hiring a professional for a written appraisal. With a little thought, it's easy to decide which path to take.
Online Assessment Service
If you need to determine the value of your antiques, many experts are already very good at identifying objects using detailed photos submitted via online appraisal services. Although these types of appraisals cannot be used for insurance purposes, they will provide you with a brief written report on the value of the goods and assets. Some online services offer free third-party appraisals. Antique art valuation platforms like mr-expert.com also offer free appraisals of valuable objects, furniture, and collectibles.
How does it work?
As uncertain as to the online appraisal, experts will appraise based on comparable value. Usually, they look for several registered sales for the same piece to provide a fairly accurate estimate. They will eliminate the highest and lowest values and average them to determine the value of the item in question. Real-time auction results are also used for this purpose. Therefore, to submit a review, you must upload a photo containing all product information. Experts will appreciate your items and you will receive your comments in your inbox within 24 or 48 hours.
How to choose the right antique expert for your item?
First, make sure you find someone who specializes in the type of object you wish to appraise. The major auction houses are also good sources for finding reputable appraisers. Some even organize "appraisal days" and invite the public to come and examine their pieces and collectibles by professionals. Once you've selected a few appraisers, here's some information you may want to know:
- Ask for a copy of their resumes that includes their experience and past clients.
- Contact their references/clients and ask about their experience.
- Understand how evaluators charge for services.
- Ask if they belong to evaluation companies that require ongoing training and testing.
- Determine exactly what they will provide in your evaluation report.