One of my most frequently asked questions is “is this item valuable because it’s old?” My response is just because an item is old does not necessarily make it valuable. The value of any item be it old or new is determined by the economics of supply and demand as they determine price. All old things are not valuable. Just look at any of the popular antique price guides such as Kovels Antiques and Collectibles Price Guide, Schroeder’s Antiques Price Guide or Millers Antiques Price Guide for antique values and you will see antique prices which range from a few dollars to thousands and more. Also, you can visibly see the law of economics in action at any antique auction.
In a free market economy, the economic principal of supply and demand determines the price of almost everything in our economy from a loaf of bread to a 5 carat diamond antique ring. You see this every day when grocery stores or any other retail store has sales to dispose of their inventory. If you follow the stock market on Wall Street, the stock price of most of the big companies have either a price increase or a price decrease every day. The same is true of commodities such as oil, wheat, cotton, pork and live cattle just to name a few.
In summary, price and fair market value is all about the economics of supply and demand, not how old an item is. If a very old antique item is in high demand and there is a small supply, it may have a high price. On the other hand, if an antique item is extremely old and the supply is very limited but no one wants it, you may have to settle for less than you wanted.
Want to learn more come to our free antique appraisal day held every Saturday except during the Brimfield Antique & Collectibles Show Saturdays which are Saturday July 13th and Saturday September 7th.
Marketing for Dealers & Consignors since 1990
371 Main Street
At The Entrance To Old Sturbridge Village
Sturbridge, MA 01566