Nothing can replace the services of a skilled appraiser. But sometimes, a collector just needs or wants a general idea of the worth of an object. A Wisconsin appraiser and auctioneer said going online can be a great way to start.
Shirley Baumann is a certified personal property appraiser and a registered Wisconsin auctioneer. As the owner of both Baumann Auction Services and Heirloom Appraisal & Estate Services, she has seen technology drastically change the world of appraisals.
“When I first started in this business, I was in so many libraries, I can’t count them all! Especially art libraries, and historical society libraries," she said. "And of course … the change is the Internet. We have so much information.”
Baumann said that while a lot of buying and selling happens on the Internet today, that’s not all. She said there's also a vast amount of information to research the value of items, including the results from auctions of similar objects.
“Big auction houses to small local auctions keep the results on the Internet," she said.
Not all of the information is free and professional appraisers will pay for access to some of those databases. But even so, the data is accessible in ways that it never was before.
Baumann said that the important piece of the puzzle is that it isn’t just looking at what the asking price was, but what was paid for it and possibly on several occasions, not just once.
“It’s what it actually sold for. That’s the market value,” she said.
So what are some of those resources? Baumann points to several, including some that are free to use. For the auction and appraisal professionals, the Art Fact and P4A, which stands for Prices for Antiques, are useful, but there is a cost attached. PriceMiner charges a monthly fee to use it, but gathers a very amount of data on completed sales. WorthPoint is similar, and there is a free trial membership available.
There are also free sites that can be a great resource for the collector. The Antiques Navigator site is free to use, as is the Live Auctioneers site. Auction Zip, which is associated with the professional Art Fact site mentioned above, is also a good, free site to use.
Baumann also recommends Google and other search engines as a good place to start. She said it someone knows where to look, they can find out not just what price items are listed at on eBay, but also what they sold for. Baumann said that the advanced search function on eBay can be used to show completed sales, which again give a sense of the real market value.
Even with the depth and breadth of information that an individual can find, there may come a time when a person really needs to take their collectibles to a professional. Baumann suggests finding someone that specializes in the category of items that the person's falls under. For example, she doesn't value coins and stamps herself because it isn't her specialty, and it's a complex field to stay on top of.
She said that word of mouth among fellow collectors is a good way to find a trustworthy dealer. Another way to find a specialist in a particular area is to look for members of professional associations. People who belong to groups like the International Society of Appraisers, Appraisers Association of America, or the American Society of Appraisers adhere to codes of ethics, which is a further assurance, and provides some recourse if you feel it’s needed.
But, just like with in diagnosing health issues, getting a second opinion is always a good idea, she said.
"Take it to more than one dealer. I know that takes more time, but if two dealers are way off [from each other], then you find a third, and get that opinion," she said.
Even more importantly, Baumann cautions against ever selling the item to a person that has given an appraisal.
“You can see the potential for conflict of interest,” she said. “’Oh, these aren’t worth much, but I’ll give you this amount for it.’ And actually, perhaps are (worth more).”
She said that dealers are of course going to offer a price that allows them to make a profit, but it’s much safer to separate the appraisal from the sale.
