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Author Topic: Interesting "Cash In The Attic" Article  (Read 814 times)
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SecondhandSophisticate
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« on: January 09, 2008, 02:58:37 PM »

Thought y'all might find this interesting:When you seek antiques, less is more

Skip the junk to add value to your collection
BY PAM HARBAUGH

When it comes to antiques, it's all about the power of stuff. At least, so says Tim Luke, host of HGTV's "Cash in the Attic" and former director of collectibles at Christie's auction house.

In his nearly 20 years in the field, including nine years on the "Antiques Road Show," Luke said the hardest part of his job is convincing people they have too much stuff. Currently, he is co-owner of TreasureQuest Appraisal Group, in Hobe Sound.

"In my job as an appraiser, I will see what we're doing in an estate, how the sentimentality of stuff takes over and blinds us to what we're really looking at," he said. "When it gets into hoarding, that's when it's a really bad thing."

Luke, an energetic, entertaining and gregarious speaker, will talk about this in a series of lectures at the Vero Beach Museum of Art's 16th annual Antiques Show and Sale. The lectures include:


"What's It Worth?" in which he will help train the average person's eye to look for valuable collectibles, 11 a.m. Saturday and Sunday.


"The Art of Auction," in which Luke, in part, will recount his experience working at Christies, 3 p.m. Saturday.


"The Art of Collecting," includes talks on focusing on the best, maintenance and weeding out items of lesser quality, 2 p.m. Sunday.

This will be the first time he will appear at the museum's annual antique show. Organizers watch him regularly on the "What's It Worth" segment during the WPTV (West Palm Beach) noon news. They thought it would be a good idea to invite him to speak at the show.

"We felt that Tim's expertise, enthusiasm, professional background would be a draw," said Robyn Orzel, the museum's director of development. "He was very enthusiastic and said 'I'd love to.' "

In addition to presenting Luke and an exhibition of pieces from the museum's permanent antiques collection, the show draws 38 dealers, mostly from Michigan to Maine and down through Florida, who offer pieces for sale.

Luke hopes his participation in the show will set people on the right path when it comes to recognizing truly valuable items, letting go of items that have no meaning and little or no value, taking care of their antiques and maintaining focus on a collection.

The "full cycle of collecting" means to acquire the best, watch out for defects and get rid of lesser quality items as the focus on your collection tightens, according to Christie's auction house in New York City.

"A lot of times, people will have 20 or 50 items, and they're happy and complacent with that," Luke said. "They don't realize they have two items which are extremely rare, and if they got rid of the lower value items and invest in more rare items, that will set their collection apart and raises the value of the whole thing."

To acquire the best, a serious collector will look for defects on any item and then compare it to what Luke calls the "holy grail" pieces in a certain category.

Anyone can train themselves to recognize these good pieces by going to auction houses, reading books, attending antique fairs and seminars, researching online and even by spending time on eBay, he said.

While Charlie Miller, a professional appraiser from North Carolina, agrees with Luke, he said the eBay market is primarily useful for researching 20th century items. That's because the provenance of the items is more likely to be accurate, thanks to an 1890 and 1914 United States laws requiring labels stating the country of origin and country where the work was made.

"The eBay market is primarily a collectibles market," Miller said. 'It is not a sophisticated antiques market per se, especially when it comes down to antique furniture."

Still, Luke said, the hardest part of collecting is knowing when to get rid of something.

"I joke that we do interventions," he said. "People become blind to their stuff. Sometimes, you have to take a survey. . . . If you have a storage facility filled with this stuff and you don't know what's in there, that's a problem."

Luke said most homes have about $1,000 in collectibles. Selling items like old manual typewriters and hand-push lawnmowers can add up if they're in good condition and you can find a collector to buy them.

"All the things we've been carrying around, all that adds up," he said. "Get rid of it. The sentimentality is in your head. It's not in the stuff. . . . That's the downside of shows like 'Antiques Roadshow' and 'Cash in the Attic.' They want cash but are blind to the condition of their items."

Then again, you could have a small fortune, especially if the pieces are in good condition and are rare.

"When you have these really desirable rare pieces, people will go crazy," he said.

Luke recently arranged for the sale of a collection of 20,000 Victorian cardboard Christmas ornaments. The collector had bought only the best he could find, which set the collection apart

The collector said "now is the time for someone else to enjoy them," Luke said. "We sold one-third of it. The low estimate for the whole collection was $150,000. It brought close to $300,000."

This certainly is not typical.

"It doesn't happen all the time," he said. "But this is a good example of someone who focused their collection, bought the best conditioned items and really focused his collection."

Contact Harbaugh at 242-3717 or pharbaugh@floridatoday.com.
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oceangurl
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« Reply #1 on: January 09, 2008, 03:07:39 PM »

Thanx Seso, very interesting. The ironic thing is that in the article they mentioned "Hobe sound" , that is in Jupiter , Florida and I have been there many times, and when you are heading there you go down a long road which I call "Millionaires row" because there are mega mansions, palm beach style that are on either side of the road, on the opposite side of the row is big palatial mega estates, the typical white mansions with red ludivinci tile roofs and palm trees on the water, so how appripo that this lecturer would be lending his knowldege to this class of individuals, Iam sure (from their old money ancestery) that they have many collectibles holed up in their "mansions"! lol! Roll Eyes
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Big Daddy Audio
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bigdaddyaudio
« Reply #2 on: January 10, 2008, 11:06:09 AM »

I'm going to run up my flag in the "I collect it because I like it and it's useful to me" category.  I don't tend to collect objets d'art, because that's how one begins to hoard.  I suspect that may thrifters are like this.

I have a small cabinet with some old/vintage cameras, all of which mean something to me.  The cameras are the ones that took the photos in the family photo archives.  It kind of ties it all together.  I have some photos of my Mom, when she was in Hawaii in the late 1950's (before statehood - you want to see legitimate tiki furniture?) and in one of the photos taken at a party is a Julia Lee 10" edition of Party Time.  That same exact album is in my collection, and it ties the photo to my reality - it symbolizes to me a sense of shared aesthetics with my Mom (we often didn't get along) - it gives me a bond that is from choice; something more than just DNA and biology.  (BTW - I also have a mint 12" edition of Party Time which has 2 extra tunes - I bought this later on eBay).

I tend to collect items that are useful to me - not just there to look at.  I admit that I'm offbeat, and my sense of aesthetics is not mainstream.  What I like is generally not what everyone else likes.  My stuff will ultimately be worth less, because there's not as much demand, but on the other hand, my stuff will ultimately cost less, because there's not as much demand.  That works for me.

See you next time
bye for now
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- Paul in AZ

"You never know what you're going to find next."
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« Reply #3 on: January 10, 2008, 11:36:06 AM »

They're really looking at it from a resale/valuable collection point of view, aren't they? And not the thrill of the hunt. Or the aesthetic enjoyment of the collection itself (whatever it may be). Or the decorative nature of it. They're looking at it as a Collection That Is Important.

(And I think to myself, "Who, exactly, am I impressing with a Collection That Is Important?")

(My insurance agency, I suppose, as my homeowners policy goes up.)

I do downgrade some items when I find others for my collections that I like even more, or are in better condition. But then, I don't buy things because I want a collection Christies will be breathless over. I just like these items around; they're me. They make me happy. They have little bits of history attached to them...

That's enough for me.
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Mattie
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« Reply #4 on: January 10, 2008, 07:15:37 PM »

"A lot of times, people will have 20 or 50 items, and they're happy and complacent with that," Luke said. "They don't realize they have two items which are extremely rare, and if they got rid of the lower value items and invest in more rare items, that will set their collection apart and raises the value of the whole thing."

Uhhh...if someone is HAPPY with their collection, why would this guy try to convince them to get rid of parts of it?  Is monetary value the ultimate goal of collecting?  Apparently that's what matters to Mr. Luke.  Maybe he should stick to collecting cash and skip the collectibles entirely.
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dukek9
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« Reply #5 on: January 10, 2008, 07:44:39 PM »

Oooh the photos from Hawaii sound so cool. Just a big tiki fan here, but I also appreciate your comments about how it means even more to you because of your mother.

I think it's sad when articles like this get out because it seems like there is always someone in a family who would rather have the money than the items and they will pressure others or somehow get their hands on things that mean a lot to others and dispose of it, just to get the money. 

And the sad thing is that often they won't even get very much money for it.  The cameras that Paul mentioned are a great example of this.  Selling them would not yield a lot of money; their primary value is to Paul.  And that's the way it is with lots of things, but when people get the idea that they can get millions out of things, some people will sell it, even if they end up getting very little money in the end.

Dee
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thunderthrift
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« Reply #6 on: January 22, 2008, 08:14:10 PM »

Hi,

The few times that I've seen "Cash in the Attic", I've always sympathized with the homeowners rather than the staff of the show.  The staff always seems to be ruthless and refuses to recognize the sentiments of the homeowners.  The "reality show" or melodrama aspect seems to predominate. 

The emphasis is whether the family will accede to getting rid of certain items within the auction time frame rather than on the items themselves.  OTOH, I guess the point is to give the viewer an idea of how much cash they can receive from the products that they have in their household.
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Big Daddy Audio
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bigdaddyaudio
« Reply #7 on: January 23, 2008, 01:43:02 PM »

I haven't watched CitA except on BBC America.  On the BBC version, most stuff "was bought years ago for a few quid at a car boot sale," or, "it was my mum's but I always kind of hated it."  Sure there are things that are sentimental, but in those cases, the owners/families will put reserves on the stuff. 

To be fair, the appraisers and presenters couldn't possibly be as sentimental about anything in the house they're scouring, except if they had one of the same things that meant so much to them.

See you next time
bye for now. 
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- Paul in AZ

"You never know what you're going to find next."
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