A question we often hear from potential clients is, “What are my items worth?”
Worth is directly related to the “Best Price,” whether for the seller or consumer, and it is relative to the current market for that particular item at that given time.
For the seller, there is an emotional attachment — this incorrectly inflates the value of an item, while the consumer wishing for the “good deal” — deflates the value based on what price they are wanting to pay. However valid the viewpoints maybe to the individulas, when we price items for a sale those points are not considered, but many others are.
We look into the current local market (and online retail and resell sites); how the item is currently selling – is there a trend, a need, or is it not wanted; are there multitudes of it available or is it a rare piece; at what price has the item recently sold; when did it sell – was it recent or a year ago; is the item we have to offer in excellent condition or does it need repair. The answers to these questions help us decided on a price; one that is profitable for the client and inviting for the consumer. Finally, we were hired to liquidate the estate and to do so requires a careful balancing of pricing and making sure items sell. So, we will be conscious of getting the most for our client and selling at the best price with the goal of making sure the item is sold.
So in short, when you ask “What are my items worth?,” the answer is “What the buyer is willing to pay in today’s market, based on it’s demand, availability and the buyer’s desire to purchase at said price.”
Below is a section of an advertisement by Kelly Kinzle Antiques of Pennsylvania on “The Value of an Object,” which touches on the same topic.
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