How do I know if I am paying too much for an antique? Some tips? This questions describes what everyone needs to know when shopping for antiques. "If you're shopping at local antique stores or shows, get...
"If you're shopping at local antique stores or shows, get to know your dealers," says Claudia Reese, who owns 2nd Time Around Antique Mall in Twin Falls, Idaho, and has been studying, buying, and selling antiques for 20 years. "Just as with any other transaction, work with people who earn your trust," she advises.
Ultimately, it's up to you, the collector, to do your own research about an item's value. There are many ways this can be done. Hundreds of books about antiques are published every year. Check your local bookstore or library to see what's available on the topics that interest you. Out of print books, available at used book stores and through online book sellers, can help you learn the history of an item. Subscribe to one or more of the hundred plus antiques newspapers and magazines. Their articles on collecting topics and reports about auctions and antique shows will keep up to date on values. Also, research the selling prices at online auction sites. For example, if a certain Fenton vase is repeatedly listed as selling through online auction sites for $50 to $60, you will know that the identical vase marked $40 at a local antique store is a good buy.
Condition is a very important factor in determining the price to pay. Even a tiny chip on the underside of a dish, a small tear on a postcard corner, or a one inch stain on the back side of a quilt greatly lowers its value. Consider damage on items when evaluating the purchase price. The rarer the item, the more damage is considered acceptable. For example, if you often look for postcards from a specific place without much luck, and a postcard with the small tear shows that place, you may be willing to overlook the tear because of the item's rarity.
Study the history of an item you'd like to buy. For example, if you did research on Grueby Pottery you would learn it was made in Boston between 1891 and 1907. And since 95% of the pieces of this fine art pottery were green, the 5% that are multicolored are the most valuable. Therefore, you should expect to pay more for it.
If you decide the asking price is a little too high for your budget, negotiate a final sale price with grace and finesse. Remember that antique mall owners are limited in their ability to negotiate lower sale prices. They must consult with the dealer who owns the item. If you are at a show or a shop owned by the dealer, remember that nobody likes to be put down. Insulting a dealer is not negotiating. Don't yell, "I'll take this junk off your hands for $50," and expect to be rewarded with a bargain. A polite customer who says, "Could you consider $50 cash?" is way ahead.
In the end, you are the judge as to the value of an antique. Sometimes, if an item is special to you and the asking price seems reasonable, you may simply enjoy the purchase. For example, if you collect flag jewelry, you may be on vacation and find a pair of vintage flag earrings you like that are priced $50. If you will enjoy adding them to your collection and it will be a happy remembrance of a special trip when you wear them, it may be money well spent.
