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How To Tell If Your Collectibles Are Worth Money

Tuesday, October 18th, 2022
collectible auctions

Collecting has been a popular hobby for many people for centuries. While some collectors are in it for the love of the activity, others are looking to make a profit. If you’re wondering if you have valuable collectibles, here are a few tips to help you determine the value of your items.

Understand Your Collectibles

The first step to finding out how much your collectibles are worth is understanding what you have. You should take the time to examine and learn as much as possible about the item. Note its shape, size, color, and any labels and identification marks. These features are critical for antique identification. The more information you have about a collectible, the easier it will be to determine its value. 

Check Online Price Guides

Various websites provide online price guides for collectibles. Kovels is among the most popular websites, with over 600,000 current prices for collectibles and antiques. Other helpful websites include Beckett, Collect, and Downtown. You may need to pay a fee for the services rendered or a monthly membership to access information on these websites. 

Get a Professional Opinion

However, you can’t rely on websites alone. One of the most reliable ways to find out if you have valuable collectibles is by consulting a professional. You can take any of the following approaches:

  • Visit a certified appraiser: You can find a professional appraiser for virtually any item. It’s best to work with a professional certified by the Appraisers Association of America, the International Society of Appraisers, or the American Society of Appraisers. After completing the appraisal, the appraiser will give you a written report explaining the item, the valuation procedure, and its current value. 
  • Take the collectible to an antique store: Reputable antique stores have in-house professional appraisers. They usually offer fair-market valuations, insurance replacement valuations, and budget-friendly services like verbal approximations.
  • Consult a collectibles dealer: If your collectible has well-established price guidelines, search online for a board-certified collectibles dealer to help determine your item’s value. 
  • Visit an auction house: Auction houses provide private valuation services at various rates, depending on location. They even have days when they offer complimentary valuations for the public. 

Common Collectibles That Are Worth Money

If you are considering collecting items but are unsure which collectibles will generate the most profit in the long run, here are a few suggestions:

  • Coins: Coins should be your first choice if you are looking for valuable collectibles. Some classic coins can fetch at least a million dollars in private auctions. 
  • Stamps: Stamps are another collectible that can be worth a lot of money. An “Inverted Jenny” stamp initially sold for 24 cents and fetched over a million dollars at an auction in 2016. 
  • Books: You can earn a lot of money from first editions of classic novels. Their value usually depends on factors such as rarity and binding quality. 

Looking for Valuable Collectibles?

Looking for valuable collectibles? Look no further than High Plains Auctioneers. We have a wide selection of collectible items at our auctions. Call us at 806-244-6776, or check out our upcoming auctions on our website to get exceptional items.