Here's How to Know What Your Antiques Are Worth
We’ve all heard tales of those who picked up an obscure piece of art at an estate sale or inherited some porcelain that they later discovered was worth a small fortune (remember that bowl found at a yard sale that turned out to be worth $500K?). So, as you look over your own collection of antiques and heirlooms, you may be wondering which ones are due for an appraisal—or, more simply, how you even go about that process.
When it comes to estimating the value of antiques, we often tend to make mistakes of extremes, Roger Higgins of R. Higgins Interiors tells House Beautiful.
“People often assume that the pieces they cherish will mean something to others,” he says. “We, therefore, think that these items are worth more than they might be. On the other extreme, there has been a myriad of examples of people owning something and having no idea that it’s actually worth millions.”
We asked two designers who are well-versed in decorating with antiques—Higgins as well as (House Beautiful contributor!) Elizabeth Pash of Elizabeth Pash Interiors & Antiques—to share their expert tips for navigating the appraisal process. Here’s what they had to say:
1.Determine which pieces are worth an appraisal
Some common items in your home that you may consider having appraised include fine furniture, crystal chandeliers, signed art, and antique rugs, Pash says. As a general rule, consider appraising your investment or forever pieces rather than your vintage flea market finds. Your investment pieces, she says, are the ones that you may want to have insured or that you want to know their fair market value of because you’ll consider selling or donating them one day.
Other items that may be worthy of an appraisal include family heirlooms (especially those from family members who sourced from wonderful shops) or pieces that pique your curiosity and have you wondering about their provenance or history, Higgins says.
His general rule: “If you have an antique and think it might possibly be worth something, trust your instincts.”
Also, Higgins suggests doing your own sleuthing to start. You can start by looking at auction records for similar items that have been sold to get a baseline.
2. Hire an appraiser
Curious where to find a trusted appraiser? Pash recommends asking your local auction house or an attorney for the name of some reputable appraisers. To go a step further, ask the appraiser for some references that you can contact.
Before hiring an appraiser, here are some questions Pash recommends asking:
What are the appraiser fees? Are they hourly? How are they calculated?
What’s your background and experience?
Will you provide written and signed documentation of your findings?
Higgins says you should be prepared to spend $500 for a legitimate, unbiased appraisal.
“If you can, try to have several items appraised at once and you may save a bit,” he advises.
3. Go through the appraisal
In a nutshell, an appraisal entails a lot of research and work, Higgins says.
The process can begin with a search of the auction records and a verification process to determine the legitimacy of a piece. Your antique may then be compared to similar items in order to help establish its value, he says.
An appraiser can examine your items either in person or based on photographs, Pash says.
“They will look at the materials, workmanship, rarity, and condition to determine age and value of a piece,” she explains.
On the other hand, If you are considering purchasing an antique or would like to know its value without hiring an appraiser, you can ask the opinion of an established antique dealer, Pash says.
Now, it’s time to suss out whether that piece of porcelain you’ve been using as an umbrella stand is actually a high-value antique. Good luck!
Follow House Beautiful on Instagram.
You Might Also Like
