Real Comparison Between Antique Evaluation V/S Appraisal V/S Liquidation?
Whether you are looking to sell the antique estate your “Aunt Sadie” willed you or the treasured antiques you’ve been collecting for years, you’ll need to know some important but potentially confusing terms. From antique evaluation and antique appraisals to liquidation, both antique buyers and sellers need not only to understand what the words means but how each applies to their personal situation.
An antique e-valuation is when the value of an antique is set online through a process such as undergoing an antique appraisal. If one is participating in an online antique auction, he or she sets the items e-valuation once they stop bidding just as is customary during an in-person auction. The only difference between valuation and e-valuation is that an e-valuation takes place online rather than in person.
Antique buyers depend upon an antique appraisal in order to establish the value on an antique. The antique appraisal is conducted by an experienced appraiser. A legal document is then presented stating the exact value. Not only is the appraisal of value to the antique buyer but also for the purposes of insurance, taxes, wills, and estate planning.
Antique appraisers are well-schooled in setting the value of an antique. There are a number of ways they base their final appraisal on including age, condition, and place of origin. Ideally, an appraiser should be experienced in the field as well. When having an antique appraised, be sure to check credentials and references along with years in business.
An antique liquidation happens when a complete inventory is being sold all at once. It can take place in a liquidation auction or another type of transaction. The liquidation of antiques typically involves a discount since the antiques are being sold in bulk which is helpful to antique buyers and to the sellers as well.
How Valuation, Appraisals, and Liquidations Come Together
Within the antique industry, there is a process that usually takes place when the transfer of buying and selling occurs. First, it is common for a piece to be appraised to establish the value or valuation. If this doesn’t take place, a person at an antique auction who is bidding on an item sets his or her own version of appraisal, ceasing to bid past what they feel the item is worth.
When an antique liquidation takes place, the valuation of the antique items and their appraisals may not be the price set for antique buyers to make their purchase because they typically get a bulk discount.
The Importance of Terms
If you are going to be participating in antique buying and/or selling, you want to learn the terms. Failure to do so can hurt you in the long run. If you don’t know what an antique appraisal is, how can you go about having your antique examined to determine the price it should bring? And, if you don’t understand the valuation of your antique, you won’t know what price to charge for it or, if you are buying an antique, you won’t know how much the suggested price should be set at.
The more you know about antiques and the terms used within the antique industry, the better moves you’ll be able to make when buying, selling, or simply shopping around.