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This article was published in the October/November 1999 issue of
AntiquePrime Magazine & Journal.
For What It's Worth ...
Q. What do you think of the TV shows about antiques and collectibles?
A. I am amazed at how often I am asked this question! I have mixed
feelings about these shows. On one hand, I am pleased that after
watching, so many people are questioning the value of the items
that they possess. On the other hand, the shows make it look as
though an appraisal can be completed in a matter of minutes and
at no cost. It is important to keep in mind that the primary purpose
of these shows is entertainment, not education.
The appraisers that you see on most shows are unpaid and not reimbursed
for their expenses to get to wherever the show is being taped. Why
would they volunteer under those conditions? For the publicity.
Not every "appraiser" you see on a show is one. Some are
employees of auction houses, some are dealers, but there are some
appraisers with credentials, too.
Many of these experts who participate never appear on TV. You probably
have noticed that the segments which air usually involve someone
who has something of value and didn't know what they had, or someone
who thinks they have a treasure, but it turns out to be a fake or
reproduction. This is because of the entertainment aspect. The producers
won't bore you with a simple this-is-what-you-have-and-it's-worth-this-much,
because that doesn't make for good TV.
I would not categorize as "appraisals" any of the exchanges
between the experts and those who bring in the items. A "verbal
opinion of value" is a more accurate description. Keep in mind
that an appraisal is a researched written report, and both these
elements are lacking on TV: thorough research and a typewritten
or word processed report.
Recently I've noticed some of these shows have subtly begun educating
the public about the different type of values. Often the auctioneer,
dealer or appraiser now qualifies a value by stating whether it
is an auction price (market value) or a retail price (replacement
cost for insurance). Listen carefully when the value is being given
and see if you can detect which value is stated.
These shows leave viewers with some incorrect impressions that are
not addressed.
• Outside of the show environment, appraisals are not free.
Appraisers are professionals who charge for their services. These
fees are based on an hourly rate, per item rate, or contracted flat
fee, never a percentage of the stated value.
• If you have an item similar to one shown on TV, yours is
not necessarily valued the same as the one in the broadcast. It
must be inspected by a qualified appraiser to determine its condition
and value characteristics.
• Know why you want your items appraised. The appraiser determines
the type of value given based on your reason for the appraisal (i.e.,
Fair Market Value for estate taxes, replacement cost for insurance
coverage, market value for resale, etc).
• Much behind-the-scenes research is necessary to arrive at
a stated value. The opinions you see being given on TV make it look
easy, but appraisers must stand ready to defend in a court of law
the values they arrive at. Guesses are not good enough.
Should you bring your treasures to one of these shows if they film
in Dallas? In return for a free consultation, you may have to spend
hours standing in line for a few minutes with an expert. I'd rather
sit back and watch on TV. I have appraiser friends and colleagues
across the country that I get to watch from the comfort of my living
room. The shows are entertaining, and sometimes even educational.
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