|
Photo provided by DuMouchelle Galleries
This group of Mexican paintings by artist Juan Tinoco, which are not highly sought after in Michigan, but are popular in California, broke the artist’s record with a sale price of $35,000 at
a recent auction.
|
Estate sales: Cleaning up or cleaning out
By Terry Oparka
C & G Staff Writer
Estate sales could be compared to a game of chance.
Shoppers may pick up valuable items for a song — but the painting that hung in grandma’s house that you’ve always hated and just wanted to get rid of could be worth more than you think.
Ernest DuMouchelle, vice president of DuMouchelle Art Gallery on Jefferson in Detroit, said one man brought in a Navajo basket that he thought was worth perhaps $5 to $10. DuMouchelle thought it was worth closer to $7,000, and maybe more.
DuMouchelle Fine Art Auctioneers and Estate Appraisers is an appraiser for the PBS television show, “Antiques Roadshow,” where people bring items in for appraisals and are often pleasantly, or unpleasantly, surprised by the value.
DuMouchelle handled an estate auction for a customer in West Bloomfield who had a Russian wine cup she didn’t know anything about. DuMouchelle discovered the Faberge name inscribed on the bottom in the Cyrillic alphabet. It sold for $245,000 at a recent auction.
“That’s why people go to estate sales,” he said.
He explained that some people who run estate sales are not aware of the various markets for collectibles and art. If you can, let an appraiser tell you what it’s worth beforehand, he said. He said he doesn’t charge for informal appraisals. It’s also good to check out the Internet to get an idea of what prices are, he said.
But, be aware that prices will vary depending on a number of factors, he said.
EBay and the Internet provide the seller with worldwide exposure, said DuMouchelle. “With a worldwide market, the price would go up.”
For example, some people are always looking for one particular artist, he said.
In choosing an appraiser or someone to handle an estate sale, it’s all about reputation and the word on the street.
“Their reputations are on the line,” said Ward Randol, an attorney who serves on the board of the Troy Historical Society.
Randol has helped to organize the Troy Historical Society Annual Antique Appraisal Fair for the past four years.
He explained that while the verbal appraisals that are available at appraisal fairs, which are sometimes free or are given for a nominal charge, are not suitable for insurance or state tax purposes, they are a great starting point. There is a charge for formal, or written appraisals, which are needed for insurance or tax matters.
Paul Haig, owner of Haig’s of Rochester Fine Jewelry, serves as an appraiser at the Troy Historical Society Annual Antique Appraisal Fair.
People often are mistaken about the content, therefore the value, of jewelry, Haig said. “Is it gold or not gold, 14 karat or platinum?” he said. Repairs made to jewelry are sometimes of a different material, which sometimes leads the owner to think that the entire piece is of that material, he said.
Even dealers sometimes miss things, he said. He’s seen Asian art pieces misidentified, which led the owners to believe they were more valuable than they actually were.
He added that there are many niche markets that some dealers aren’t aware of.
“It’s a risk — for the buyer and seller,” he said, noting that even museums get “taken in” by fakes.
Darlene McClelland, owner of Classic Estate Sales and Auction Services, online at www.classicestate.net, has been conducting estate sales for more than 20 years and does about 50 sales each year.
“Sellers need to ask themselves, who is doing this sale?” she said. “An antique dealer who is doing the sale may want the stuff for his or herself,” she said.
One ploy, she said, is for unethical dealers to price items high, and when it doesn’t sell by the third day, take it for free during the “cleanout” process.
McClelland said that typically, during a three-day sale, the price on items are reduced the second and third days, and some companies will remove all items left over on the final day of the sale.
When hiring an estate seller, read the contract carefully, she said. “Look for a clause to back out. Once you sign some contracts, the estate agent owns everything in the house.”
“Get references and find out when you get paid,” McClelland said. She said she knew of someone who waited months to get the check from the estate sale.
That said, estate sale shoppers can clean up at sales, she said.
“The tool guys love them. And you can make out like a bandit on cleaning products,” she said. “Towels, sheets and linens are also a good buy.”
“Garden tools and items for household use are usually priced to sell, and are better sold in the local area,” said Nannette DuMouchelle Poole, director of Auction Services for DuMouchelle Art Galleries.
“I love to go to estate sales,” said Haig. “It’s a great place to buy things.”
For a list of estate sales visit estatesales.net. The Troy Historical Society Antique Appraisal Fair will be held from noon to 4 p.m. May 4 at the First Methodist Church at 6363 Livernois. The entry fee is $5 for verbal appraisals and $20 for informal written appraisals. Proceeds benefit the Heritage Campaign.
You can reach Staff Writer Terry Oparka at toparka@candgnews.com or at (586) 498-1054. |