Do you have an old rocking chair that used to belong to your great great grandmother? What about an antique china cabinet that you found at an estate sale? These can act like focal pieces to bring interest into your home.
But if you’re trying to clean out your home or get money fast, you may be considering selling these antiques. That is if you can sell them for the right price.
“So, how much is my antique worth?” That’s a great question! But the answer isn’t so simple – it depends on a variety of factors, like age and condition.
Do you want to know how you can discover your antique’s worth? Keep reading to find out.
1. Do Your Own Research First
You should start by doing your own research. This can come in many forms. If you have a family heirloom, ask your family members if they know what period it’s from or if there’s an interesting story behind it.
If it wasn’t passed down through family members, see if you can find tips on discerning real antiques from fakes. There are probably a few key details that will let you know if you have a genuine antique or a replica.
You may also hit the internet and do an antique value lookup. See what other people are selling similar items for. You won’t be able to get an exact number from this method, but it should help you find a ballpark figure.
2. Get it Appraised
When learning how to find out what an antique is worth, you’ll probably read a lot about antique appraisers. This is the best way to get a real and knowledgeable answer. It’s their job to evaluate your piece and do an antique value lookup if needed.
You may find that their price differs from what you found on the internet. Remember, things like cracks, restorations, blemishes, edition numbers, and manufacturing year can all play a part in how much your antique is worth. You can always take it to another appraiser for a second opinion if the number seems too low.
3. Contact a Specialist or Collectibles Dealer
Do you have some niche or collectible? Things like baseball cards, comic books, or war memorabilia may be taken to a specialist or collectibles dealer.
They have expertise in the specific antique you have and know more about the niche market you’ll be selling it to. They’ll be able to give you a good price range and tell you more about your item.
How Much is My Antique Worth?
So, you’re still left with the big question: “how much is my antique worth?” Pinpointing an exact price on your own can be hard. The best way to determine worth is by doing an antique value lookup at home to get a ballpark figure. Then, get it appraised or take it to a specialist for a more exact number.
Did you find this article helpful? Check out our blog for more great articles like this.
Is that painting you found in the closet worthless or worth millions?
While it’s rare for someone to find something that is worth millions in an estate, knowing the value of things is important because finding things that are worth thousands is not all that rare.
Getting an estate appraisal is the only way you can know for sure how much the items in a home are worth. And, contrary to popular belief, they aren’t just done after someone has passed away.
Keep reading to learn a few reasons as to why you may need the help of an estate appraisal expert.
In many cases, an official estate appraisal is needed before securing insurance. When looking to get a valuation for this reason, it’s important to make sure you’re using someone with the right credentials.
Most insurance companies will only accept an appraisal from someone that has been authorized by the Uniform Standards of Professional Appraisal Practice (USPAP). Always ask about this before hiring someone.
When someone passes away, and the will states that the assets are to be divided between heirs, it can be difficult to know who gets what or how much everyone will receive.
This is where a professional appraiser comes in. They can provide a fair market value for the estate contents so it can be divided equally between parties.
If the assets are to be sold to provide an inheritance, this valuation should only be considered a guide as there’s no guarantee the items will be sold for that amount.
Donating to Charity
If you have valuable items that you’re looking to donate to charity, you will need to have them professionally appraised first. This will allow you to write off the full amount on your taxes.
Alternatively, some people choose to donate entire estates to charity because it’s far more straightforward and faster than going through the selling process. However, to get a tax write-off, you’ll need an appraisal.
This is another instance in which you will have to be especially careful about who you hire. The IRS may investigate any item that has been appraised for more than $50,000, so you want to know the person you’re hiring is giving an accurate valuation.
Having an Estate Sale
Whether you’ve inherited a house filled with unwanted items or you are merely liquidating belongings, an estate sale is a great way to earn some money while getting rid of things you don’t want.
However, if you want to know what the values of items prior to an estate sale you can hire someone to appraise the estate. This will help when deciding what the family may wish to keep or sell. Maybe you would want to keep an item if you knew it was worth $5,000. An estate inventory or valuation also known as an estate appraisal is a great way to determine that very question before an estate sale process begins.
How to Schedule Your Estate Appraisal
Now you know the reasons behind why you may need an estate appraisal. It can be done for insurance or donation purposes, or to find out the value of items to execute a will or sell everything.
If you’re ready to have an appraisal of your estate done, check out our website to learn more.