Trash or Treasure? How to Value (and Sell) Your Collectibles
Whether you inherited your grandmother's china collection or are still holding on to your Beanie Babies, you likely have thought about how to turn your unused stuff into cash. But you may have held off on selling it because you didn’t know how much the items were worth – and were afraid of selling them for less than their actual value.
Making accurate valuations of your collectibles will help you price them appropriately — and potentially get more cash if you sell them.
Importantly, the information your research turns up can also help ensure that you're adequately covered under your homeowners insurance, whose regular limits may be too low to cover expensive items. (For example, the standard home insurance policy provides only $1,000 to $2,000 for stolen jewelry, so you may need additional coverage to ensure you're made whole in the event of a burglary.)
How to value your collectibles
If you're clearing out your garage or managing a loved one's estate, valuing items can be a daunting task. Dividing the process up into five steps can make it more manageable:
1. Clean the items
First, give the items a quick cleaning. You don't have to scrub or make them look brand new, but a gentle wipe down with a dry cloth to clear the item of any dust or dirt can make it easier to see the item's true condition and any identifying marks.
If you know what the item is made of — for example, if you know a piece of furniture is true mahogany, rather than a veneer — using a gentle polish or cleanser can enhance the item's beauty.
This process will also allow you to get a better idea of the item's condition. Note any imperfections or damage, such as chips, scuffs, paint loss or broken hinges.
2. Look for maker's marks
Next, examine the item for any maker's marks or materials used in construction. Many possessions, from furniture to tools and jewelry, will have the maker's signature.
For example, I buy and sell vintage jewelry, and I've become really good at valuing my finds. One of the best ways to value jewelry is to use a magnifying glass to examine any letters or numbers on the piece. Letters or symbols indicate the jeweler or designer of the piece, while numbers reflect the metal content. Jewelry may contain the following marks:
925 or sterling: These marks mean the item is made out of sterling silver.
10K, 14K or 18K: The item is made out of solid gold, with the K count indicating the number of carats. Sometimes, the gold content may be written differently:
416 or 417 is the equivalent of 10K gold
583 or 585 is the equivalent of 14K gold
750 is the equivalent of 18K gold
Knowing the manufacturer or designer will help you to identify the item's value. For instance, a silver bracelet from Tiffany & Co. will usually be much more valuable than a silver bracelet from a big box retailer.
3. Check prices online
The internet makes valuing your items much simpler than it used to be. Take photos of your items with the best light possible, and get multiple angles and photos of any maker's marks. Then, use the following tools:
Google Lens: The Google Lens app allows you to upload a photo of your collectible, and Google will search for that same or a similar item online. You can use this tool to find more details about the piece, such as its maker or the year it was built and recent sales from major auction sites and retailers. For instance, I had a cat statue I bought at a yard sale. Google Lens allowed me to find out it was made by Universal Statuary, and that it normally sells for anywhere from $400 to $800.
eBay: eBay is another invaluable resource. Enter into the search field as much information as you have, and then select Filters. Click on Sold Items so you only see the prices of pieces that have actually been sold. This will give you a more realistic idea of what buyers are willing to pay for the item.
Online appraisal sites: You can use online appraisal sites like ValueMyStuff to get a ballpark idea of what your items are worth. These valuations are guidelines, and can provide useful information on how to describe and value your possessions.
4. Consider consulting a professional
In some cases, it can be difficult to identify an item, or to tell if it's an original piece or a reproduction. Particularly with jewelry or artwork, accuracy is critical, so consulting a professional can be helpful.
A professional appraiser may charge an hourly or per-piece fee, depending on the item and the number of pieces you have to appraise. The fee varies based on the type of appraisal you require; for instance, if you want a sales appraisal for a piece of jewelry that includes a paper copy of the item's contents, metal content and gem quality, that assessment will cost more than a verbal appraisal that gives you a range of what to expect when you sell it.
Look for an appraiser who specializes in that specific type of item. Some useful resources for finding appraisers near you include the Appraisers Association of America and the National Association of Jewelry Appraisers.
5. Work with an auction house or consignment store
If the idea of selling items on your own seems too daunting, you can work with an auction house or consignment store which can handle the sale for you. You can look for auction houses in your area, or you can use big-name auction houses that serve buyers nationwide.
These platforms will review the item and price it for sale, and they usually take a percentage of the sale price. Major auction houses include Bonhams, Christie's, Doyle Auctions, Fortuna Auction House and Sotheby's.
Many of them have free valuation forms; you submit photos and whatever information you have, and the auction house responds with a general valuation and whether they can accept the item for auction. If you agree to the terms, you can usually mail the piece to the auction house, and they'll handle photographing it, listing it and shipping it to the buyer.
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Getting the best price
When it comes to valuing your items and getting the best price, the key is to be patient.
Some pieces, such as some antiques or collectibles, may be quite valuable, but it can take months before the right buyer finds it. While it may be tempting to just list everything at a yard sale, patiently examining and researching each item and connecting with the right buyers will get you more cash over the long run.