Have you been thinking of starting an antique collection? Or, would you like to have an antique selling business? Either way, you’d need the services of a reputable antique dealer for your venture to be a success. The trouble is a Google search will likely show you the various dealers who are present in your area alone. So, how do you find the best one?
Here are some factors to consider when you want to find the best antique dealer you. This will help you choose:
The Best Antique Dealer Belongs to a Trade Association
One of the smartest things you can do while looking for a dealer you can trust is to choose one who is a member of a respected trade body. Such associations, like the NAADAA (The National Antique and Art Dealers Association of America) are expected to have the right kind of knowledge before they can be declared members. Moreover, they must also adhere to a strict code of conduct. Finally, if you get into a dispute with your dealer, the NAADAA will act like a free arbitration service to solve said dispute. Thus, you can buy antiques from a dealer registered with NAADAA with complete confidence.
The Best Antique Dealer Gives Fair Appraisals
A good dealer is likely to be a good appraiser too. Whether they offer you a fair deal or not will depend on how they conduct business. Great dealers will simply charge a flat fee. Others will charge an hourly rate instead. More on the kind of dealers you should be avoiding below.
While the level of expertise that appraising the object in question requires, you might have to pay $400 or more. You’d know that the dealer is the real deal when you receive the appraisal in the form of a written report. It will explain the method used to measure the object’s value, its description, and the actual value of the item.
As mentioned above, the best antique dealer would know what they are talking about when appraising an antique item. What’s more, since they would be interested in repeat business, they won’t be ripping off customers like yourself. Besides that, the association they belong to likely prohibits false appraisals.
We’d still advise you to stay away from any dealer who promises to appraise your antique object, but on a fee that is based on its value. Since they will be charging you a percentage of what the item's value is, you will get an overly inflated price quoted to you. The associations of dealers and appraisers consider this a conflict of interest, which is why they strictly prohibit this practice.
Another disadvantage of getting an inaccurate appraisal is that you might get into trouble with the IRS over it. They will require a reputable source for an appraisal and won't accept any quotes from other less than ideal sources.
The Best Antique Dealer is an Expert
Depending on the kind of antiques you decide to deal in, you may need the services of an expert dealer. The garden variety antique dealer might not know as much on the subject of say antique coins as someone who has made it their specific niche. That usually means they would have read many reference books on the subject. Therefore, they could do a much better job of helping you complete your collection.
The more specified your requests are, the more careful you’d have to be when choosing an antique dealer. For instance, if you are only collecting coins that originated from a particular era, you’d need someone who know what they are looking for.
Did we miss something? Let us know by commenting below. Know of a good antique dealer? Leave their name in the comments section below if you won’t mind sharing them!