Many people collect a variety of different items – from coins to furniture pieces and stamps. Although some people do this for fun, others do it to make a profit. You should know that although you can essentially collect any items of your choice, this does not mean that every collection or antique will be valuable.
This article will advise you on how to determine the value of antiques so that you can start your collection properly.
Learn To Recognize Valuable Items
Many people instantly assume that any old items will be valuable in the future, hence worthy of being collected. However, this is not the case. Antiques are valuable for a reason – not just because they are old. It may be difficult for you to recognize the value of an item at the beginning of your journey, but this will improve as you learn to spot what to look for. Once you can identify what items are valuable, you will be able to start your collection and you will know exactly where to find them.
Do Your Own Research
It should go without saying that you should conduct your own research if you want to start an antique collection. You may find an item that you believe is a valuable antique, but this may not be the case and you should do proper due diligence to find the worth of an item. This does not have to be a long process; Before the expansion of technology and the internet, collectors relied on printed books in local libraries where they could find guide prices every year. However, obtaining access to these was fairly challenging and by the time one got hold of the book, the prices might have changed already. Nowadays, you can use a range of websites that will provide you with a valuation. It is recommended you obtain more information here so you know what kind of information you will need to find if you collect valuable items such as coins, for example. Knowledge is power and this is absolutely true when it comes to antique collections so that you do not give away your collection pieces or lose money on them.
Consult With Experts on The Subject
Determining the value of a collectible may not be as easy as it seems and this will be even more challenging if there is little information out there to guide you on the valuation of your item. You may need some additional help from someone who has expertise on this subject. You may find these experts online whilst doing your research, as discussed previously, but if you prefer to speak to an actual person, as an alternative, you may choose to go into an antique store and ask to speak to a specialist in the type of item you are looking for or selling. There may be additional costs associated with getting a professional to provide you with a valuation, but it will be worth it as it will save you from having to do the work yourself.
Check The Marks
Any professional will advise you that one of the first things you should do when assessing the value of an item is to look for the manufacturer’s or designer’s markers. If an item has such a mark, this will instantly increase its value as it is proof of authenticity. You must note that these marks are usually well hidden and you may not be able to see them with a naked eye, so assess the item carefully with a magnifying glass.
Do Not Attempt to Repair The Item
Keeping your collectibles well preserved is crucial for them to retain their value. Make sure that you understand this and learn about your collection so that you know the best way to keep your items safe from damage. You may not know this, but collectibles may lose value once they are damaged. If it occurs naturally, it may not be an issue, but it will be if it is caused by your recklessness. Likewise, if you attempt to fix a collectible, you may be doing more wrong than good and this may actually decrease the value of your item. If there is major damage, it may be worth going to a professional to get this fixed rather than trying to do it yourself.
Understand The Marketplace
Having an understanding of the marketplace is crucial if you want to sell your collectibles later on. The value of your item is not the only variable that you will need to know – there may be other fees associated with selling your item that you may not be aware of, which are just as important. Once you know this, you will be able to gain a better idea of how valuable your collection really is.
If you are thinking about starting a collection of antiques, make sure that you follow the tips discussed on this page. They will help you know exactly how to determine the value of your items so that you can make a profit.
