Determing Value

This is the 200th post of this blog. And being so, I thought I’d break away from my usual question and answer format and discuss a topic for which I receive lots of questions—value. I routinely tell everyone that I don’t do valuations. I do that because value is one of the hardest things to determine without lots of expert information. That’s why certified appraisers are in such high demand. But they’re expensive, so most people seek free value advice.

Value of any kind is subjective. It depends on several things—age, rarity, authenticity, trendiness, and historical association. Just because an item is old doesn’t make it valuable. Take glass from ancient Rome. At over two 2,000 years old, you’d think it would be worth a fortune. But the truth is there’s so much of it around that it isn’t worth as much as you’d think.

Throughout history, people had as much junk as we have today. But they didn’t value things in quite the same way as we do today. For ordinary people, old furniture was just old furniture. Old dishes were often mismatched. Let’s face it, they didn’t have “Antiques Roadshow” to make them think that just about everything was valuable.

To determine an item’s value, you first have to determine its age. The type of wood used in furniture, particularly the secondary woods used for the inside of drawers, is an important clue of age. If you see a  circular saw pattern in the wood on a piece of furniture, you know it was made after 1840.

Not everything rare is valuable either. An old book by an unknown author might be extremely rare. But to be valuable, someone must want to buy it. Nevertheless, rarity is a key determinant of value. Start by considering how rare an item was when it first appeared on the market.

Think in terms of different levels of production. At the bottom are mass-produced items made of ordinary and usually cheaper materials. At the top are unique items made of the finest materials. Generally, if an item was rare and valuable when it was made, it'll be even more rare and valuable today. Previously expensive objects will still be expensive today.

When an antique or collectible is in demand by collectors, it’s price can skyrocket. And when prices climb, fakes and forgeries abound. Some forgers use as much skill producing fakes as if they were making an original. Fraudulent antiques lie in wait for the uninformed. A good example is the myriad of fake Chippendale furniture coming out of Indonesia.

Perfectly round wood in a piece of furniture, for example, is a tell-tale sign of a forgery, because wood becomes distorted with age. Look carefully at ceramics to see if someone painted the decoration on top of the glaze after the firing.

When it comes to collecting antiques, condition is prime. Did you know that the patina on fine furniture----produced before 1830—is one of its most important features, and too much cleaning and restoration can ruin it? Did you know, for example, that the value of a rare book can drop by more than 100 percent if it doesn't have its dust jacket?

Another thing that influences value is how typical an item is. Collectors are always looking for representative examples of a given period, craft or style. When an item sparks a collecting trend, prices always go up.

Finally, an object’s association with someone famous automatically increases its value. That’s because more collectors want to own it. And that’s the bottom line with value. The more people who want to own an object, the more its worth. And an item is only worth what the last person paid for it.

I hope you find this post as useful as the previous 199. I’ve enjoyed writing this blog and plan to continue bringing you insightful information about antiques and collectibles. For more in-depth articles, please visit The Antique Almanac, my new monthly E-zine on antiques and collectibles. You’ll never know what you’ll learn next.

Vintage I Do

QUESTION: I have in my possession my great-grandmother’s wedding dress and accessories. They have been passed down from mother to daughter since my great-grandmother left them to her daughter. They’re in remarkably good shape, considering that they date from the1890s or perhaps earlier. I’d like to know more about how to care for them and since I have no daughters of my own, where I might donate such vintage clothing. Can you offer me any suggestions?

ANSWER: Vintage clothing has undergone somewhat of a Renaissance. As more and more people got interested in history and antiques through shows like the Antiques Roadshow, naturally attention turned to what people wore back then. Also, the proliferation of consignment shops selling vintage clothing has brought more people in touch with well-preserved older items.

Before looking at where you can learn more about the dress and accessories you have, you should understand the difference between old clothes, vintage clothes, and vintage costumes.

Old clothes are just that. Usually, they’re items that people recycle to charities so that less fortunate people can benefit from them. They can take in any time period, but are usually more recent in age. Vintage clothes, on the other hand, are items in good condition from particular periods of history, such as the 1890s, the 1920s, or the 1950s. And vintage costumes are sets of clothes in a style typical of a particular country or historical period. While vintage clothing can be purchased and worn and accessorized to complement today’s fashion styles, vintage costumes are special and can only be worn on special occasions like fancy dress events or in film or the theater.

One of the best places to learn about vintage clothing is at your local historical society. Often the organization will have a museum in which all sorts of historical objects are on display. Some have extensive vintage clothing and costume collections, but unfortunately, most have limited gallery space, so much of the clothing doesn’t get displayed. Many colleges also have costume collections, depending on the courses they offer. These are often unknown to the public, again because of the lack of exhibition space, staff, money, or interest.

The vintage clothing and costumes are usually donated by area residents. They bring in grandmother's or great-aunt Sarah’s clothes that they discovered when cleaning out her house after she died. The items run the gamut in type and condition. Sometimes they have an interesting story or provenance. Aunt Sarah may have even pinned a note to certain items.

These donations may then sit in the institution’s attic waiting for someone to resurrect and restore them. They present opportunities for a hands-on learning experience with costumes. Volunteering at your local historical society will enable you to to gain access to reference materials and vintage costumes. You can also view, close-up, exquisite workmanship and fabrics not available to the average person.

Even though museum visitors rate costume exhibits as one of the most popular attractions, sadly, some museums have little interest in displaying their costume holdings. At one Massachusetts historic site a visiting costume conservator was horrified to find a gown made by premier Parisian designer Worth stored in a shower stall. The director's reaction to her protests was "Why should I care about a woman's dress?"

While this attitude is common and a reason more costumes aren't on display, it opens the door for those who do care. The advantage of volunteering at an unenlightened institution is that a volunteer working on costumes might have a freer hand there than at an institution where the curator considers every thread sacred.

A few museums organize groups and programs centered around their costumes. These often include special seminars and teas, access to archives and the costume collection, and a newsletter.

These are ideal places to learn how to preserve your vintage wedding items. You’ll learn to wear white cotton gloves, what cleaning methods are best, and about different fabric types and safe storage methods, plus the names of suppliers of conservation supplies, such as acid-free boxes and tissue paper.

If you don't want to get involved in volunteering or groups, but want a close-up look at period clothing, some museums will set up appointments with their curators to see their collections.

And before blindly donating your items, be sure to ask how they’ll be cared for and if they’ll ever be displayed.

Taming Your Collecting Passion

QUESTION: I love to collect things. But my passion for collecting seems to be getting out of hand. How can I control this? And how can I judge whether certain items are worth collecting?

ANSWER: You’ve obviously been bitten hard by the collecting bug. With the advent of eBay and the Antiques Roadshow, everyone has the idea that everything is worth something. And if something is old, it must certainly be worth a lot. If you believe this, then you’re wrong on both counts.

The first question you need to ask yourself is “Why do you collect things?” Is it for their intrinsic or monetary value, is it for the pleasure they give you, or is it for some vague idea of self-worth?

Asking avid collectors why they do what they do is like asking, "Why do you breathe?" They might reply that something about human behavior wants—or is fated—to gather and accumulate, to crave and classify, to seek out and hoard. Passion plays a part in many serious collectors' pursuits, as does, many admit, the thrill of the hunt.

This can be true even, or perhaps especially, when time is long between looking, finding and acquiring. The rarer an object of desire, the less frequent or instant the gratification of its discovery; for some determined collectors, though, pleasure resides in the long, unpredictable search for a coveted item. Inexplicably, it may also dissolve when it leads to a find.

For many people, collecting is a way of getting in touch with a past era, even if they didn't live through that particular period themselves. Some enjoy owning objects from what they may imagine was a simpler, less stressful age. Or they may have a strong nostalgic or family connection to a certain period and place.

Some people collect with investment value in mind, others to develop an informed knowledge of a our material  culture. Either way, passion plays a part in many serious collectors' pursuits, as does the thrill of the hunt. Identifying personally with the objects one admires can also feed the collecting impulse.

Some collectors embrace—and celebrate—their magnificent obsessions; like entertainers, they enjoy displaying what they have amassed and sharing their enthusiasm with friends. Conversely, to be sure, many a treasured collection is a private, secretive affair.

Collecting has broaden in scope over the decades. It used to be that antiques included only decorative objects and furnishings. Today, anything 100 years old or older is considered an antique. Anything newer a collectible. And while some antiques may be considered collectibles, not all collectibles are antiques. Take typewriters, for instance. The oldest ones are antiques but newer ones from the late 20th century are technically collectibles.

What's old is new in the evermore-diverse collectibles market, and as long as someone, somewhere values something enough to acquire it and stimulate trading in its field, it can become a common practice to do so. Thus, along with such old favorites as stamps and coins, items like Barbie dolls, tea tins, and buttons, in fact, just about everything can be deemed a collectible.

So where do you draw the line.  The first rule of collecting is collect what you like.  The second rule is to be knowledgeable about your collection. The third rule is buy low and sell high.

Understand why you’re collecting what you do. What got you started? Have you kept up with your collection or has it run its course? If your collection is languishing, then perhaps you’ve lost interest. Life changes. You change.

Do you know a lot about what you collect? Have you studied up on the history of the objects? Do you know the makers and the marks? Do you know the last word on the subject? Have you kept up with the market value?

Too many people get caught up in the entertainment value of auction sites like eBay. For some it’s like playing poker. They even get to “win.” Many pay far more than an object is worth just because they want to be the winner. If you’re a true collector, you’ll not even bid on an item unless you know you can get it for a good deal below market value. And that means you have to know what it’s worth before you bid.

Do you just collect things or do you keep an inventory of your collection? To understand the true value of your collection, you need to know when and where you purchased each piece, how much you paid and how much it’s worth now. You may even want to photograph each item as a record for insurance purposes.

Of course, as any collector knows, there’s a price to pay. Thus, beginners and seasoned veterans alike usually pursue their collecting passion at some cost. No matter what your field is, there's something all of us inevitably collect and unless you pick the pieces off the junk pile, you’ll have to pay for them.
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