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This article was published in the September/October 1999 issue of
AntiquePrime Magazine & Journal.
For What It's Worth ...
Q. If I want to get an idea of something's worth, can't I just use
a price guide?
A. Sure, as long as you realize that the emphasis is on "guide"
rather than "price" when using price guides. Here are
some things you might want to research about the price guides you
select:
• How were prices obtained? Where and from whom?
• Are pictures included?
• What are the limitations for use?
• Are descriptions complete? Is condition included?
• Is useful information, such as current market trends, included?
Let's look at two examples.
In the "Lyle Official Antiques Review", 1998 edition,
a picture is included for each item along with a very brief description.
Condition of the items is not addressed.
"All values are prices actually paid, based on accurate sales
records in the twelve months prior to publication from the best
established and most highly respected auction houses and retail
outlets in Europe and America." Below each picture the auction
house where the item sold is listed along with the value. A representative
sample of auction houses includes Christie's, Bonhams, Sotheby's,
Skinner, Phillips, and Spencer's.
Although the introduction states "... thousands and thousands
of individual items carefully selected to give a representative
picture of the current market in antiques and collectibles ...",
there is no discussion of current market trends.
Limitations of the Review to keep in mind include the regional nature
of values and the omission of the date of auction and lot number
of the item. Also, in the editor's own words, "When dealing
with the more popular trade pieces, in some instances, a calculation
of an average price has been estimated from the varying accounts
researched."
In the 17th Edition of Schroeder's Antiques Price Guide, there are
very few photographs and the descriptions are extremely brief. The
contributors, however, do attempt to provide information about condition
of the items listed.
Sources for the prices in Schroeder's are varied. They use auction
results and dealer lists, and they consult with national collectors'
clubs, recognized authorities, researchers, and appraisers. You
will not be able to trace any listed price back to its source. And
you will find little information about market trends. You'll have
to compare several year's worth of prices to determine this.
If you do not know what the item is that you are researching, you
may find it difficult with Schroeder's price guide because there
are no photographs to guide you. Price fluctuations by regions are
not addressed. Items of local importance may not be found in a nationally
published price guide.
Despite their shortcomings, there are some practical uses for price
guides. Remember that they are guides only. Consult several different
price guides to determine a value range. Take into account the item's
condition when estimating its value. A damaged piece will be worth
far less than any price quoted in a guide. If your treasure has
geographic appeal, it's value may be higher in one part of the country
and perhaps less elsewhere. A price guide can't adjust for all circumstances,
but it can help you get a "ball park" idea of value.
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