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debodun

No Auction "Reserve"

debodun
10 years ago

I can't find an auctioneer that will sell my parents estate items with a "reserve". That means I put a minimum value on an item. If they don't get at least a bid that high, the item isn't sold. They say my putting a reserve value of $150 on a Victorian sofa is way overvalues for an auction. Right now Victorian furniture is a "hard sell" and they are lucky to get $25 - $50 for a piece. They haven't seen antique furniture sell for much since the 1970s here in upstate NY, and if it doesn't sell, they are stuck with it. I've done my research and have a general idea of what things are worth, but apparently I'm hitting a stone wall trying to sell at these values. Why the discrepancy between "book" value and what can realistically be expected? Have antique values fallen that much in the last 30 years?

Comments (18)

  • lazy_gardens
    10 years ago

    Have you tried selling them directly - on Craigslist, at an estate sale, or in a consignment store?

    The market for antiques varies wildly across the country, and what won't sell in one area may sell well in another.

  • debodun
    Original Author
    10 years ago

    I've been almost every route and have a hard time finding buyers. We have 2 consignment shops in the area and they say they aren't accepting anything right now because they aren't selling what they have. I've done just about all online sales sites and have had virtually no response. Even a regional classified ad magazine has brought no response. I had a garage sale about 6 weeks ago and only three cars stopped all weekend and I live right on the main road in my town. My aunt, who lives about 10 miles away, has garage sales now and then and makes money hand over fist. She says it's because she sells what people need (personal care items, household products and office & school supplies) while I sell trinkets, dust-catchers and out-of-style items.

  • duluthinbloomz4
    10 years ago

    I'll throw this out for what it's worth. Does your area have any estate appraisers/buyers?

    Went through this with an aunt's estate and knew early on I didn't want the time and effort spent, as well as the aggravation on piece meal selling. I also knew people want bargains, won't pay for "sentiment", and will never love stuff the same way the original owner does/did.

    Bottom line, I wanted the estate gone and was not going to hold out looking for top dollar despite the fact her things were nice and much of it antique quality. Cousins were invited in to choose a wanted or needed momento; good jewelry, photographs, strictly "family items" were removed then had estate appraisers come in, offer what I considered a fair price and was written a check virtually on the spot. Within a few days a crew came in and hauled everything away - even vacuumed the carpets. How they dispensed with it - auction no doubt - was no longer my concern.

    It was all neat and quick.

  • chibimimi
    10 years ago

    The auctioneers are right; Victorian furniture has fallen in price. How old is the "book" you are taking your values from?

    Unless the pieces are very special and there are at least two people who want them, auctions don't bring high prices. Pieces are often bought by dealers, who need to pay well below their retail price in order to make any money. Most people have to figure the cost of re-upholstery into the value of chairs or sofas; even if the current upholstery is in good condition, it most likely will not match the decor of its new home.

    Have you tried contacting interior decorators? Show them photographs of the furniture; they often have a "wanted" list and you may have something on the list.

    Or find a place to store them until prices come back up, as they no doubt will ... but who knows how long you'll have to wait.

    It's a real pity. Victorian furniture is often really well made of excellent materials. But it just isn't very popular right now, except among owners of Victorian homes.

  • debodun
    Original Author
    10 years ago

    I attempted to contact about a half a dozen "estate" liquidators. Most never returned my call or email. The ones that did come and look had these opinions: One said that I didn't have enough "high end" items for him to bother with. The other said "Take my advice - get a roll-off dumpster and put everything in this house in it." I can't get over these people. Every back-street auction house and estate liquidator think they are Southeby's or Christies.

  • teddybear_2009
    10 years ago

    Can you get someone to help you list it online.Try Etsy or Ebay.

  • ineffablespace
    10 years ago

    In this area (Northeast Mid Atlantic), I go to Auction Houses where they only sell at reserve and nice but unremarkable pre-Victorian furniture and even late Federal period furniture is not hitting fairly low reserves. The auction houses here don't take most Victorian era furniture for their reserve auctions unless it is an exceptional piece in exceptional condition. They both have one unreserved furniture auction a year, and some 19th c. furniture ends up in those and goes for almost nothing.

  • debodun
    Original Author
    10 years ago

    I lost money using eBay. Have to pay to list and no bids.

  • grandmamary_ga
    10 years ago

    My neighbor just sold what I would have considered junk furniture. Looked Victorian to me and was in poor shape. It needed to be refurbished from the frame to the seated cushion. She got $80 for it. I would put your pieces in a yard sale. You never know who will buy it. Advertise in a newspaper. She also had pieces of handwork which she said were her mom's. Everything had an odor.
    Mary

  • triciae
    10 years ago

    "Have antique values fallen that much in the last 30 years?"

    I think the real question is - did these Empire, Victorian, turn-of-the-century oak pieces ever have inherent "value"?

    I think you will find that c. 1700-1825 American furniture has appreciated during the time frame you mentioned (last 30 years).

    Fringe items such as Victorian furniture are subject to the home decorator's whims. That worked well in the 80s-early 90s but definitely not since 2000. There's not much you can do to change the direction of the average American's design aesthetic.

    Pre-industrial revolution American antiques are usually purchased by a different segment of the population. Most have established relationships with individual brokers and/or auction houses for new acquisitions to their collections. They don't cruise garage sales. These collectors keep the market stable and appreciating. But they do not seek out Victorian sofas, unfortunately for those needing/wishing to sell.

    IMO, you are going to have to adjust your expectations if you want to sell these estate pieces. I know this sounds really hard but, unfortunately, it's reality. Pre-1825 American antiques are considered a "hard asset" similar to gold coins or artwork. They are something that shows up on a financial statement. With an established market, prices remain fairly stable with the usual up/downs of daily movements. Marginal pieces - there just isn't that stable market.

    /t

  • maddielee
    10 years ago

    Is your furniture Victorian or Victorian Style? When was it made?

    ML

  • debodun
    Original Author
    10 years ago

    Here are some photos of rooms in the house so you can see what I have to deal with. First the front room:

    This post was edited by debodun on Sun, Oct 13, 13 at 11:54

  • debodun
    Original Author
    10 years ago

    Dining room

  • debodun
    Original Author
    10 years ago

    The middle parlor

  • justlinda
    10 years ago

    Everything looks just plain old "tired" to me. Nothing jumps out that would say high-prices!

    You must remember sentiment isn't worth anything to anyone else.

  • sam_md
    10 years ago

    www.bluehenauction and www.mid-atlantic.com are two absolutely top of the line auctions near me.(Delaware) They sell only choice period furniture, quality primitives in good shape, salt-glazed crocks, sterling, etc. Terms are clearly stated: No Sales Tax, No Internet Bidding, phone & absentee bidding is accepted.
    -------------------------------------------------------------------------------------------------------------------On the other hand there is a small weekly country auction near me which has been going for many years. This one sells pots & pans, lawn furniture, etc. If something doesn't bring a bid they combine lots, if it still doesn't bring a bid it is taken directly to the dumpster.
    ABSOLUTE AUCTION - NO RESERVES is a selling point for the billhead. How is it in the auctioneer's interest to handle a piece with a reserve bid?

  • maddielee
    10 years ago

    Truthfully, the first picture of the larger mahogany (?) drop leaf table looks like what would have the most value.

    Advertised around here on craigslist, it might bring $ 150.00. The small tables might bring $25.00.

    If you are selling the corner cabinets, maybe $100.00. Depends if you happen upon someone who wants them.

    Have you considered donating everything and getting the receipt for tax purposes?

    ML

  • ineffablespace
    10 years ago

    Honestly, there's nothing in those pictures that would get accepted by the auction houses that do reserve auctions here, except maybe the drop leaf table in the first picture, and that's even a maybe. Sorry.