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I am asked that question almost every day. The truth is, I don’t know.
I most certainly know the worth of my own possessions and of the products in my stores. I just don’t know the worth of your stuff by simply looking at it.
Also, I think the question really is, "What is it's market value?"
Market Value is easy to explain yet not so easy for sellers and buyers to agree on.
Market Value is the monetary worth of something, a fair return or equivalent in goods, services, or money for something exchanged. Many things affect market value:
Desirability
Condition
Scarcity
Popular Culture
Lifestyles
Regional Preferences
The Economy
Even with fluctuations from those effects, market value is fairly easy to determine on the internet. Comparable items can be found on eBay, Amazon, Worthpoint, Ruby Lane, Etsy, and even Craigslist.
Remember though, the prices you will see are the ‘asking’ price.
That does not mean that is what someone has paid or would typically pay.
While a knowledgeable and trusted seller (Me!) will have done the research to determine her price, the price also includes general business operating cost and the various commissions and fees that are charged to the seller by the hosting website. In my experience, those fees range from 9% to 25% of the sold price.
Then, there are packaging and shipping costs that will be absorbed by the buyer, seller or both.
You will have better chances of finding a buyer if you consider pricing your item about 5% less than the average price you find online. Even then you may have to negotiate.
So, I can hear a few of you crying back at me, “I can’t sell my mother’s china cabinet for that little!” That is because you have become victim to the number one fallacy sellers believe - Personal Value Matters.
Not in the marketplace.
While strongly intertwined in the seller’s mind, in the buyer’s mind market value and personal value have nothing to do with each other. That is because personal value is based on sentiment, emotions, penchant, romanticism, memories, wishes and dreams.
As much as I’d love to say it isn’t so, there is no mark up for nostalgia. There is no add-on cost because you ate 25 thanksgiving dinners at your grandma’s table -which fits in no one's house or lifestyle.
I am sorry to be the bearer of such grim news, but your Wedgewood Beatrix Potter Baby's First Bank will not attract any more money than anyone else’s.
For reselling and insurance purposes do your research with the expectation to be disappointed.
For those items near and dear to your heart, don’t research yet, don’t sell yet. When you are ready to let a possession go your heart will let you it is time. And that it is OK.
Until then, and long, long after,
hold it near your heart.
It's value is greatest there.
And that is why I have
Blessings,
Terri
DID YOU KNOW?
One of the membership bonuses included with your
Free Valuation Assistance. We will help you determine a fair market value on vintage items you possess. A free service from A Vintage Addiction! No one else offers anything like this. We're special like that.
Be assured, we don't let Bella perform valuations.
She's too busy writing the weekly newsletters and
her home page section "A Bark from Bella".
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