Actual Value VS. Appraised Value . . . (SHocking)

[FarmMom]

So my husband was watching I think it was either Auction Kings or American Pickers the other night on TV. Both do public auctions. They had a massive old ruby necklace (I didn't see it, he's telling me this), the guy took it to be appraised, it came out to $30,000!!!

The auctioneer looked doubtful . . . "usually things only get 20% of the appraised value."

Guess how much it sold at Auction for?

. . . .. $8,000.

OUch.

So when SLC touts how much something is WORTH, it's worth knowing that estimated does not equal pay

And lets face it . . . unless you are someone very important or have a famous collection, chances are good your item won't sell for what it's worth . . .

[MaeWest1953]

Hi FarmMom,

What a great point and observation about the REAL values of stones, jewelry etc. !!
Every time a Host shows the viewers an appraisal card I think to myself how that could be doctored to make it appear the item is way more valuable then it really is

Since I have been in the Antique business for years, I run into so many folks that feel they have something that is "hard to find and rare" and want lots of money when they come to me for an appraisal
These programs on TV are to blame for that mentality but at the same time they are helpful when the the truth of closed auction prices are told

I bet that necklace was gorgeous though
This comment of yours made me giggle...lol~~~SO TRUE!!

"So when SLC touts how much something is WORTH, it's worth knowing that estimated does not equal pay"

[Leanderlynne]

I saw that Ruby necklace on Auction Kings and it was Beautiful!

[FarmMom]

@Leanderlynne

I'm jealous! I would have LOVED to have seen it!

@MaeWest1953

I do like watching those auction shows because they do go through and get a more realistic value estimated out, but then you see something sell and they are disappointed that it sells far less. It always depends on who's in the market to buy at that time.

I also like when someone comes in with something "cool" and they find out it's fake, lol!