Image courtesy of nuttakit/freedigitalphotos.net
If you have ever thought about buying antiques, now is the time to act.
A January 2012 article by eCommerceBytes.com says that with the downturn in the economy, antique furniture prices have fallen, with the exception of furniture made in the 1950s and newer pieces by known manufacturers.
The same article found that the top 20 best selling collectibles for 2011 were jewelry, kitchen collectibles, ads, porcelain and pottery, memorabilia, books and dolls.
Buying antiques and collectibles can be intimidating. I should know.
I’ve purchased vintage antiques for years. But when I first started, I had no clue what I was doing.
I would visit antique shops and flea markets, but I didn’t know what questions to ask dealers and sellers. Most of the time, I was too scared to even try.
So, I started visiting museums and reading books about antiques. Over time, I learned the three most important questions to ask when buying antiques and collectibles as an investment:
What is the provenance? Provenance has to do with an item’s pedigree. Who used to own the item? A chair that was once owned by a famous person will be more in demand, and therefore more expensive, than one that was owned by a relative unknown.
If provenance is important to you, don't be afraid to ask sellers to provide a written legal document, bill of sale, or photo of the famous person with the item.
How old is it? If you’re spending a sizable amount of money on what you hope is a genuine antique, ask the dealer for written documentation to prove the age of the item. If, however, you’re shopping at an estate sale or flea market, the homeowner may not have any documents. In that case, you can buy the item and take it to a reputable appraiser. Most appraisers charge by the hour, but they will provide you with a written report of their findings. Some museums and auction houses offer free appraisals, but most will not provide written reports.
If an appraiser determines that the item isn’t as old as you thought, and you’ve already bought it, you have no recourse. That’s why educating yourself about antiques before you buy is important.
Is it rare? Don’t just take the word of the dealer. Read price guides and consult local appraisers to find out if an object is truly one-of-a-kind or a dime a dozen. But just because an item is rare doesn’t mean that it’s valuable to collectors. Some items are rare, but in low demand.
If you want to learn more about buying vintage antiques and collectibles, read my blog post from last month, "Yard Sale 101: Know What You're Buying."
LaCheryl
A January 2012 article by eCommerceBytes.com says that with the downturn in the economy, antique furniture prices have fallen, with the exception of furniture made in the 1950s and newer pieces by known manufacturers.
The same article found that the top 20 best selling collectibles for 2011 were jewelry, kitchen collectibles, ads, porcelain and pottery, memorabilia, books and dolls.
Buying antiques and collectibles can be intimidating. I should know.
I’ve purchased vintage antiques for years. But when I first started, I had no clue what I was doing.
I would visit antique shops and flea markets, but I didn’t know what questions to ask dealers and sellers. Most of the time, I was too scared to even try.
So, I started visiting museums and reading books about antiques. Over time, I learned the three most important questions to ask when buying antiques and collectibles as an investment:
What is the provenance? Provenance has to do with an item’s pedigree. Who used to own the item? A chair that was once owned by a famous person will be more in demand, and therefore more expensive, than one that was owned by a relative unknown.
If provenance is important to you, don't be afraid to ask sellers to provide a written legal document, bill of sale, or photo of the famous person with the item.
How old is it? If you’re spending a sizable amount of money on what you hope is a genuine antique, ask the dealer for written documentation to prove the age of the item. If, however, you’re shopping at an estate sale or flea market, the homeowner may not have any documents. In that case, you can buy the item and take it to a reputable appraiser. Most appraisers charge by the hour, but they will provide you with a written report of their findings. Some museums and auction houses offer free appraisals, but most will not provide written reports.
If an appraiser determines that the item isn’t as old as you thought, and you’ve already bought it, you have no recourse. That’s why educating yourself about antiques before you buy is important.
Is it rare? Don’t just take the word of the dealer. Read price guides and consult local appraisers to find out if an object is truly one-of-a-kind or a dime a dozen. But just because an item is rare doesn’t mean that it’s valuable to collectors. Some items are rare, but in low demand.
If you want to learn more about buying vintage antiques and collectibles, read my blog post from last month, "Yard Sale 101: Know What You're Buying."
LaCheryl
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