Locals can get antiques appraised at Treasure Hunters Road Show this week
Local antiques collectors and hoarders will have a chance to turn grandma’s silver tea set into cash at the Treasure Hunters Road show.
The event, which begins today and ends Saturday, will help antiques owners figure out how much their items are worth and link them with collectors and buyers.
“There’s so much cool stuff brought in, and there’s a story behind every item and where it came from,” said Matthew Enright, vice president of media for the company. “It’s almost like being in some sort of history museum, seeing all the different items.”
Residents can bring in any antique item for the company to analyze, from early 19th-century toys and comic books to coin collections and vintage jewelry or sports memorabilia and war guns.
About a dozen experts will be on hand at the Waco event to evaluate the items, consulting research databases to determine their retail value. the representatives then search through the client database to find a collector interested in purchasing the item.
“We’re pulling information and getting real numbers, comparing information for how the item is selling in auction houses like Heritage Auctions, Sotheby’s and Christie’s to see roughly what the item is worth and getting the sellers the most money from them,” Enright said.
About 86 percent of the attendees walk away with a check for their antiques, Enright said. the company does not charge admission into the shows but earns a 10 percent commission off each item that is sold.
Enright said the Waco event is one of 70 roadshows the company is holding in three different countries this week.
Enright said some people have earned major bucks through the roadshow, such as an Akron, Ohio, resident who sold his mint-condition copy of the first Batman and Robin comic book for $30,000, or a man who earned $1.9 million last year for his 1894 S. Barber silver dime.
Making a match
Enright said sometimes visitors to the roadshow are aware that they have something rare and valuable, but just need an estimate for what it’s worth or to find a buyer who will pay its full worth. Earlier this year, for example, a South Dakota man sold his 1961 Gibson Les Paul guitar to Metallica frontman James Hetfield through the roadshow after unsuccessfully searching for a buyer in his town for several months.
“We’ve also seen the other end of the spectrum, where people think they have the most rare thing in the world and it turns out that it’s something we see every week,” Enright said.
While residents can get their items appraised at the roadshow for free, with no commitment to selling the items, sometimes shopping around can yield better sale prices.
Milton Talbert, owner of show and tell antique shop in Waco, said the popularity of a particular item or brand can also add to its value, such as a 1920s Tiffany lamp. Some items also may garner higher prices in different cities or states.
“Newcomb pottery is a very expensive type of pottery,” Talbert said, referring to early-20th-century pottery produced by students at H. Sophie Newcomb Memorial College in new Orleans. “It may be really popular in certain parts of the country and not so popular in other parts of the country.”
Show and tell does appraisals for individual antique items and estate liquidations, and also takes items on consignment for individuals looking for buyers for their antiques.
Talbert said the store charges $150 for the first hour of appraisal services and $75 for each additional hour. the time it takes to do an appraisal depends on how many items are being appraised and how much information is available about an item.
“the Internet has proven to be a very useful tool, but that still doesn’t cover other resources and publications that are available,” Talbert said. “We also may run into a situation where we would have to engage the services of some other appraiser who may have a specialty in a certain type of item. We’ve been in business more than 40 years, but you can’t expect to know everything about everything.”
If it’s readily apparent that a cherished possession won’t bring major bucks, Talbert will let the sellers know upfront and save them the appraisal fees. Often, it’s the condition of a particular item that dictates how much money it can bring in.
Seller beware
Talbert said sellers should also be aware they may not get the full value of an item by selling to an antiques dealer or at a roadshow, because the buyer’s ultimate goal is to resell the item for a profit.
“Just because something is worth $500 doesn’t mean me as a dealer would be willing to pay $500. That’s naturally the business,” Talbert said, adding that it doesn’t hurt to shop around for the best rates. “If I were buying something from a customer, I would want to buy it at a wholesale price, and it’s up to the customer whether they want to sell it at that price.”
Judy Warren, owner of Judy Warren Estate Sales in Waco, said antiques owners should do their own research and visit roadshows and antique stores to gain more knowledge about their items and negotiate the best sale prices.
Economic issues
But Warren, who inherited her mother’s antiques collection and got her start in antiques trading, said antiques owners looking to sell some of their items should hold on to them until the economy improves.
“Hang onto it till we get out of this recession, because you’re not going to the money you want right now,” Warren said. “Even at the antique auction houses and roadshows, (antiques) don’t have the same value that they had five years ago. It’s like a good stock on the stock market, hang onto it.”
Talbert said he advises customers who want to put their items on consignment with his store that their antiques may go unsold for months or years until the right buyer comes along to pay the full value of the items.
Show and tell charges a 40 percent commission on consignments.
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