Some antique silver collectors believe they know exactly what their collection is worth because they once had it appraised years ago. Unfortunately, these collectors are often shocked at the price they’re offered when they go to sell these pieces. That’s because going off an old appraisal isn’t a good idea. The value of sterling silver pieces isn’t set, and it’s possible you could make much more money than what you thought.
Always Get an Appraisal Before You Sell
Before you sell any of your silver, you should always get a current appraisal. If you’ve had an appraisal done in the past six months or so, it’s unlikely the value of the piece has changed that much. Antique buyers are likely to do their own appraisal, too, but you can’t count on them to tell you if the value is higher than your selling price. They’re going to take the bargain if you don’t know any better.
Appraising Your Collection
Even if you’re not going to sell, it’s important to have your collection appraised regularly. This will let you know the value of your silver, which is important for insurance reasons. The more valuable your collection, the more insurance you’ll want on it.
It’s also good to know the value of your collection so you can decide if you do want to sell or not. Even if you never had the urge to sell before, knowing the current value of your items might change your mind. When you find out how much your collection is worth, you might decide it’s time to find the best place to sell antiques near you!
What Changes the Value of Silver?
When you’re talking about antique silver pieces, value is based on demand and rarity. Items that collectors desire more than others are going to have a higher value. This is somewhat due to trends. Pieces that aren’t worth much now may become more valuable as collectors decide they want to own those patterns or items from that manufacturer.