As collectibles and memorabilia specialists we are often asked about valuation.

And the first and most obvious answer feels not very helpful.

It is hard to value collectibles and memorabilia.

Trading in collectibles means entering quite a pure free market - things are worth what you can get for them.

That doesn’t mean it’s impossible. Or a waste of time.

But, any valuation - whatever its use and for whatever purpose - should be considered with that limitation in mind.

This small scrap of paper owes its value to the authenticated signature of Marilyn Monroe. 

Memorabilia and collectible appraisal

The first problem we encounter is that memorabilia and collectibles are very broad categories.

It can encompass anything that is with more than its raw value because of its rarity or its associations.

And, it can be that straightforward.

And yes, it is quite strange: recently, a pair of glasses owned by John Lennon sold for £40,000.

There's excellent provenance on this lovely set of Beatles signatures. 

They weren’t prescription glasses, but mass-produced, tinted glasses.

The fact they went into an auction sale with an estimated value of £3,000 illustrates a couple of things:

First, the general difficulty in appraising and valuing collectibles, and, secondly the further complication added in the widespread use of auctions to sell memorabilia and collectibles.

And secondly that auctions are notoriously volatile marketplaces.

This is not a science. 

Authenticity and value for collectibles

If you own collectibles I would not counsel you to ignore valuations.

You might need one for insurance purposes for example, or to account for your assets, and when considering storage options.

And, you will certainly ask for advice when you consider selling at item.

The first task is to prove authenticity.

That should be your priority with all your collectibles.

A watchword you keep in your mind while you shop too.

When you buy you should look for proven authenticity backed with some sort of actionable guarantee.

Some authenticity is more concrete than others.

A diamond is a diamond is a diamond. Gold is gold - and comes with testable purity levels.

Most well-known signatures can be authenticated with a good degree of certainty.

Ownership is harder to prove.

It’s certainly not impossible and it’s something you should interrogate if you’re buying “owned-by” items.

Isn't this portrait wonderful? And it comes with a letter that proves the signature by Albert Einstein is authenticate. 

However, such claims can be much easier to make than they are to prove.

And sometimes you’ll be reliant on somebody’s word and what you trust.

Any claims that can be interrogated should be.

What is the chain of ownership on the item? And can it be proved.

Is the item of the right period and condition?

Is there any written or photographic evidence of the item in the possession of the famous owner?

If so, get copies. 

Almost all of the value in a collectible lies in its specifics and these are what you need to check most closely.

Authenticity and appraisal documentation

If “location, location, location” is the watchword of the property buyer then “documentation, documentation, documentation” should be yours as you shop for collectibles.

You’ll soon come across the term provenance.

It really means history. Most often a chain of ownership.

And it’s the most important thing for a collectibles buyer.

Look for documented provenance when you buy.

And add your own paperwork to a folder collecting everything you know - and can be proved - about the item.

That’s vital when you come to sell on.

You’re entitled to ask about any authentication certification you get too.

Ask what it means and how it was arrived at. If you want to ask for a more detailed explanation in writing then you should do that.

Specialist appraisals for collectibles

Collectibles is such a broad field that it also crosses into several areas that have more concrete appraisal standards.

Art and antiques for example.

Let’s say you are looking at a painting, said to be by a collectible mid-20th century artist and said to be owned by a member of a famous 1960s pop group.

That’s an item with two claims to value.

Both of which should be tested.

An art appraiser may be able to authenticate the painting, assess its condition and perhaps provide some advice on storage and restoration.

The ownership may be proved with receipts, photographs, a letter or other documentation. 

Anything involving precious stones or metals should be appraised on raw material grounds alongside any authenticity (who made it?) or ownership claims.

Appraising stamps and coins

This penny black cover is full of interest and highly desirable. The authenticity comes with two guarantees, including this letter (below) from the highly regarded British Philatelic Association expert committee. 

Stamps and coins are usually appraised by specialists in those areas.

Their value is almost only reliant on authenticity and rarity rather than ownership.

Condition is also extremely important for philatelists and numismatists and specialist appraisers can give a rating on a number of scales (there are, for example, separate UK and US coin-condition scales).

Most sellers will add a condition report of some sort to their sales description.

You don’t have to accept it and you should certainly ask how it was arrived at.

If you’re unhappy, and especially if you’re spending a lot of money, you might add a further appraisal (possibly paid for) to negotiations over price.

Specialist expertise is what you’re looking for.

Appraise the appraisers. What is their experience - and experience can’t be bought and can’t be beat - in the field they’re offering their advice on?

There are recognised authorities whose word carries the most weight in, for example philatelly (The Royal Philatelic Society committee for example) or CGC for comics. 

Looking for appraisals now

We appraise items that we handle for sale.

We certificate everything we sell as authenticate using our own or sourced expertise. 

And we can give a certain amount of advice from time to time.

But you may need to pay for an expert valuation and appraisal if you’re simply looking to insure an item or find its value for accounting or estate purposes.

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