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03 December 2008 @ 08:44 pm
How to Sell Family Heirlooms for Fast Cash  



First of all, there is no shame to selling the family treasures. People have been cashing in their valuables for ages. But before you attempt it, there is one question you must answer honestly. Will the cash you're going to get compensate for the sentimental value you have attached to the Georg Jensen, the Newcomb pottery, the Tiffany lamp or the French dolls?
If you are going to be miserable without these things, stop reading right here. But if you are ready to move on, follow these simple steps to a rewarding experience.
To Determine Value, Go Beyond e-bay.
Knowing what your valuables are worth doesn't mean you have get an expensive appraisal or wait for the Antiques Roadshow to come to your town.
If you have purchase records or a detailed appraisal, or if your art is by a known painter or the silver is Gorham, you are a step ahead. If you are like most people and only have family stories to guide you, you will have to spend a couple of hours on the Internet looking at comparable items.
E-bay is only going to reflect the current situation. A better source is www.Kovels.com, which offers a free search guide to more than 600,000 collectibles sold in the United States last year. If you don't find what you are looking for there, try one of the on-line subscription sites like artnet.com or artprice.com. You can probably get away with a 24-hour subscription, for just a few dollars.
Your local Borders, Barnes Noble and Amazon carry annual price guides, such as Milllers, that you may prefer to buy and keep for future reference.
If your local auction house has a weekly or monthly Discovery Day, take in your item or a photograph of it. The specialists at the auction gallery will give you a low to high range of what you might expect to realize on a "good day" at auction.
Don't Expect to Sell At Retail Value.
Now that you know what you have, you know how much to ask for it. Unfortunately, even if you own a very valuable diamond ring or a Civil War rifle, you will not realize the full retail value unless you sell direct to a collector. If you don't know any collectors, don't worry. There are professionals you can turn to.
Know Who You Can Trust.
Your town's auctioneer has a responsibility to be trustworthy. If he handles your items, you will have to pay a seller's commission of between 6% and 20%. It will be at least a month before your property goes on the auction block and about another 30 days before you see any money from the sale.
A private dealer will come to you, pay cash on the barrel-head and remove your items. But you must be able to state your price up front, and then be willing to negotiate.
You must also check their reputation. For instance, in the New York area, a trusted dealer for over 60 years is Andrew Korman of Sherbee Antiques. 917-748-7623. Although Sherbee handles most items, they specialize in jewelry, statuary, gold, paintings and furniture. The Old and New Shop, 212-633-0329, is another that is a good source for selling silver ware, chandeliers, paintings, dolls, and more. Eric Caren, ccaren@prodigy.net, is a resource for selling historical documents, especially those of the Vietnam era.
For recommendations of dealers in your area, email prtothetrade@gmail.com.

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