So You Think You Need an Appraisal

 

QUESTION:  I have inherited a bronze statue called “The Bronco Buster” by Frederic Remington, along with several other bronzes from my uncle. I know nothing about them but admired them on visits to his house. I’d like to find out what they’re worth and the best way seems to be getting them appraised but I have no idea where to start. Can you help me?

ANSWER: Bronzes are interesting pieces of sculptural art. Unlike paintings and other forms of sculpture, bronzes have been cast from a clay original. Does that make them less valuable? Certainly not. In fact, depending on the number cast from the original mold, they can be quite valuable. When it comes to art, most antique dealers don’t know where to start to valuate a bronze sculpture. For this, you’ll need an expert’s opinion. 

Contrary to popular opinion, not just anyone can valuate an antique or collectible. Asking someone how much an object is worth is like asking if it will rain tomorrow. The only way to know what an antique, especially a potentially valuable one such as this clock, is worth is by having it “appraised” by a professional appraiser. And only a professional appraisal is legally binding when it comes to insurance claims or inheritances.

Exactly what is an appraisal? An appraisal is the paid opinion of an expert on the value of an object based on known facts. In the case of antiques and collectibles, known facts include records from more than one sale at more than one auction, the latest published price guides, and personal experience gained from buying and selling similar items many years.

While a verbal appraisal may offer an indication of how much an item is worth, a professional written one is the only one legally recognized by insurance companies and the courts. It must be based on fact and able to stand challenges in court. However, written appraisals, even for one item, can take hours to prepare and are expensive, but are absolutely necessary to prove an item’s worth.

A written appraisal is the result of hours of research by the appraiser. First, he or she must determine the age of the object based on its appearance, materials, and craftsmanship. Decorative techniques and motifs may also play a part. Then the appraiser needs to search for a provenance if the object doesn’t yet have a written one.

A provenance is a history of ownership dating from when the object was first made and by whom and continuing through various owners to the present day. This may not be easy. Often the appraiser has to contact experts in the particular category of antiques to fins out more about the object. Lastly, the appraiser searches auction databases, not available to the public and only to subscribers for hefty fees, to find out the sales history for objects like the one being appraised. While the last sale price usually determines the market value of the object, an appraiser will often average out the most recent sale prices to determine the object’s value. All this information, written up in legal form, plus photographs of the object, constitutes the appraisal of the object. Most appraisers usually assemble the contents of the appraisal in a folder or bound form before presenting it to the current owner of the object.

Take General Sherman’s hat, for example. Did this hat actually belong to General Sherman? How many other owners did it have after him? And how did the hat get passed down to it’s present owner? While there may have been other hats like it, most likely it was one of a kind, made especially for Sherman. This is where an appraisal is best.

Formal appraisals fall into two categories—replacement and fair market value. Insurance companies require the former, while estate valuations require the latter.

Replacement value is generally defined as the price at which an object would be available on the retail market. In other words, what an antique dealer would charge for a particular item.

When you try to insure a collection, the insurance company wants to know how much it will cost to replace it. The same applies for a single piece of furniture. The insurance company won’t accept a verbal appraisal as the basis of settling a claim. Instead, they require a written appraisal with proof of replacement cost.

Fair market value, on the other hand, is best described as "the price that property would sell for on the open market between a willing buyer and willing seller, with neither being required to act, and both parties having reasonable knowledge of the reasonable knowledge of the relevant facts.

But whatever the appraised value, an object will bring only a percentage of its replacement value when offered for sale—generally between 40 and 60 percent below replacement cost. Items that sell extremely slow will sell for only about 30 percent of replacement value, while those that sell fast may bring 80 to 90 percent of replacement value. 

With so many auction sites online these days, it’s easy to pull one up and do a search for a particular antique or collectible to see what it may be selling for. Most people use eBay. Unfortunately, the amounts listed on eBay may not reflect an object’s true value. If the object is listed on an auction site, then, as with live auctions, the price could go way above the object’s current value due to competition between bidders. If someone really wants an antique or collectible, they may stop at no amount of money to obtain it.

Objects of antiquity are another matter altogether. Copies abound. This little ancient Egyptian sculpture of a boat and its occupants is a good example. To the untrained eye, it may look authentic, but only an expert can tell for sure. In fact, many copies of small tomb sculptures have been made and sold as souvenirs to tourists.  

Too many homeowners use this as an easy way to price items in a yard or garage sale. Flea marketers do the same. This is why so many items that are actually worth much less are selling for higher prices today at these venues. 

Prices of objects at antique shows usually sell for the amount of their value or a little less. However, some sell for what the dealer perceives to be the value of the object. High-end dealers selling objects for four to six figures do their research and know their market. Those selling at middle-market shows, sometimes do research about an item, but, more often than not, just guess at an item’s value and price it for what they think the market will bear.

To read more articles on antiques, please visit the Antiques Articles section of my Web site.  And to stay up to the minute on antiques and collectibles, please join the over 30,000 readers by following my free online magazine, #TheAntiquesAlmanac. Learn more about "The Ancients" in the 2021 Spring Edition, online now. And to read daily posts about unique objects from the past and their histories, like the #Antiques and More Collection on Facebook.

9 Ways to Help Identify Antique Furniture

QUESTION: Some friends of my mom’s gave me what looks like a Chippendale desk. They didn’t know anything about it, so I’ve had to do some research on my own. The only problem is that I can’t seem to find out much about it. Can you please help me out?

ANSWER: Not only will I try to tell you something about your desk, I’d like to give you and others some tips on what to look for when trying to identify antique furniture.

First and foremost, you need to determine if the piece you have is really an authentic antique or whether it’s a reproduction, a revival piece, a fake, or just a piece of junk. The key to the history of valuable antiques is whether they have a provenance—a history of ownership. This document lists the maker, all the owners to the present, and whether any repairs have been done to it. If you were spending five or six figures for a piece of furniture, you certainly would want to know everything you can about it.

But what about everyday pieces that don’t come with a provenance. Identifying them is a bit more difficult. Follow these steps and you should be able to determine quite a bit about any older piece of furniture that you have.

1. Determine the style. Using photographs in antiques books and photos online, try to determine the style of your piece. Certain styles, such as Chippendale, have telltale features, such as ball-and-claw feet, that help to identify them.

2. If it’s not authentic, determine if your piece is a revival or a reproduction. The difference between a revival and a reproduction is quite simple. The first is stylized version of the original style. So Colonial Revival furniture represents stylized versions of true 18th-century American Colonial pieces. A reproduction, on the other hand, is an exact replica of the original, often made of the same type of wood, using the same woodworking techniques.

3. Determine its age. Check to see if it has any nails or screws. An original Chippendale desk would have been assembled with pegs and mortar and tenon joints. Does it have any manufacturers labels anywhere? If so, then it’s definitely a Colonial Revival piece or even a fine reproduction from the mid-20th century.

4. Check any drawers for dovetailing. You can usually tell if the dovetails are handmade or done by machine. Those done by machine are very regular and even and can usually be found on pieces after about 1870.

5. Look inside the drawers or pullouts and see if the maker used the same wood—for example, mahogany. Later versions will have used some sort of fruitwood---pear, apple, or even poplar---for the drawer backs and sides. If its an older piece, the drawer bottoms will be made of a thinner version of the same wood.

6. Does the piece have decoration that isn’t in keeping with its style? Look at the detailing on your piece of furniture. Does it have added knobs or edging that doesn’t seem to go with the style of the piece. Often one of the owners of the piece may have added these to make it more up to date. The opposite also applies. Can you tell if any details have been removed for the sake of updating?.

7. Have any repairs been made to the piece? Look for signs of glue, nails, or screws that seem newer than the piece, itself. Also look for replaced wood panels, veneer, or detailing, such as finials.

8. Has the hardware been replaced or is it original? You can usually tell if hardware has been replaced. For instance, you’ll often see chests of drawers sporting glass or brass knobs. Originally, these chests usually had wooden knobs, but antique dealers, in an effort to make them more attractive to decorators, replace the original knobs with glass or brass ones. It’s actually better to replace missing original knob with a reproduction rather than replace the entire set with hardware that wouldn’t have been originally on the piece.

9. Were you told anything it about it? Did the seller or the person who gave you the piece tell you anything about its past? Did you ask them?

By studying the closeup photos that accompany this blog, you’ll notice the following about this desk.

First, your desk is definitely from the late 19th century---I’d say probably the 1880s, based on the 1886 mark you found. Second, the dovetails are definitely 19th century. But the real signs are the nails or screws that appear in one of the photos and the rather poor craftsmanship of the carving and joining. In an authentic Chippendale, the wood would be perfectly matched---the top of the leg where it joins the desk is a good example. Also, the stain would be even. I believe this piece had been refinished at some point, and not very well. I can tell that from the molding closeup from the front rim of the desk. And the last sign is the carving, itself. The little stars were stamped in. No 18th-century craftsman would have ever done that.

When asking someone to help you identify a piece, it helps if you take closeup photos of certain parts of the piece—hardware, dovetails, inside of drawers, carving, repairs, even the back.

No Room at the Inn

QUESTION: My grandfather left me a beautiful creche which he said his father brought over from Germany in the late 19th century. Can you tell me anything about this and if it is, in fact, German?

ANSWER: You, indeed, have a German creche. From its design, I’d say it dates from the 1890s, possibly a bit before. During the 17th century, Nativity scenes, promoted by the Capuchin, Jesuit and Franciscan orders, gained in popularity as a way for common people to express their joy during the Christmas season.

The most popular form is the crèche, a word meaning "manger" or "crib" in French. Originally carved from wood, today these beautiful figures can also be made of   ceramic, glass, straw, fabric, or even plastic, then and painted. A crèche usually depicts the entire Nativity scene—the manger, star, angels, shepherds, kings and the Holy Family. Most makers construct them on a miniature scale, although some church crèches can be almost life-sized. Crèches originated in Europe with the Italian presepio which used small carved figures in the 18th century. By then, three centers of creche culture had emerged—Naples, Italy; Provence, France; and Bavaria in southern Germany.

Historians generally credit St. Francis of Assisi with popularizing the Nativity scene.
Supposedly, a rich man, Giovanni Vellita, approached St. Francis in December, 1223, asking how he could serve God. St. Francis told him to build a simple, little stable just outside Assisi in the cave at Greccio. During the 13th century, people celebrated Christmas as a purely religious holiday, so many of the activities associated with it occurred in churches. Since common workers weren’t given much of a place in these celebrations, St. Francis came up with the idea to give them a chance to celebrate.

As the story goes, as midnight approached that Christmas Eve, a great procession wound its way out of Assisi and up the hill to Greccio. Everyone came carrying candles to this new manger they had built for the Holy Child. They celebrated mass that night, surrounded by an ox and a donkey and by the people of Assisi, all playing the parts of the shepherds and folk of Bethlehem. From Italy, the idea spread north across the Alps, and finally came to the U.S. with German settlers.

Today’s creche makers model their pieces after the elaborate Italian and German ones of the 17th  century. Creches or Nativity sets can be made from a variety of materials. The characters can be carved from wood, formed from wax, papier-mache, or clay, or hand painted on cardboard. They stand in or in front of buildings, ranging from Alpine stables and guest houses to romantic Roman ruins. Others have oriental style structures with minarets and domes.

But the best—elaborate and intricately carved figures of wood—came from Bavaria.
Their creators stained them with paint to make them lifelike. German creches , often called krippen, can also be made of cast metal, cast painted plaster, cardboard with painted or printed artwork, turned wood or clay. Each Christmas, in scenes made up of rocks, branches, evergreens and moss collected in the woods by the family’s children just before the holiday, the krippe is reborn. Christmas morning finds these scenes around the base of the family’s Christmas tree in what’s called a putz or tree yard.

Among collectible creches, those hardest to find today are those predating World War II.  Adolf Hitler had many of the German molds for creche figures destroyed. At the time, Germany was the premiere maker of creches. So what you have is a real treasure, not only for its value—a similar one sold for close to $1,000 at previous auction and just one animal is going for $95 currently on eBay—but also for its place in history.