Antique furniture can be a superb asset but many people don’t know if the pieces they own have any value. Others own valuable antique pieces that they’re unaware of.
In this article, we look at antique furniture as an asset and how to value antique furniture in South Africa. We consider:
- what affects the value of antique furniture
- how to get antique furniture valuated
- can you value your own antique furniture?
- how to use antique furniture to get a loan.
What affects the value of antique furniture
Many factors affect the value of antique furniture, including its condition, age, history and rarity. The maker and style will also impact its appeal to collectors.
Hallmarks
A hallmark is a maker’s mark that verifies a piece’s origin. An authenticated hallmark can add significant value to antique furniture. The hallmark must be genuine; some older furniture might have been given fake hallmarks.
Condition
The condition of antique furniture affects its value. Chips, wear, tear, cracks, stains and missing pieces reduce its value. Rare or historically significant antique furniture will maintain its value even if it’s damaged.
Repairs or restoration
Repairs or restoration work can add value to antique furniture, provided it’s done well by a professional, restoring a piece to its original condition.
How to get antique furniture valuated
If you have antique furniture that you think is valuable, start with the following:
- find out what it’s made from
- take high-quality photos
- check for labels, logos or maker’s marks
- note any damage (including photos)
- find out if the piece has been refurbished or restored
- if you know where the piece came from, note its history.
Once you have this information, contact The South African Antique, Art and Design Association (SAADA) to get a valuation. You’ll be charged a fee per item or a percentage of the assessed value.
Many auction houses offer valuations. Contact your nearest auction house to see if it can help and what it charges.
Types of valuations
Before you get a valuation, you must know the type to get.
An auction valuation is the amount the item is likely to fetch at auction. This will be a slightly lower amount to attract bidders.
A probate valuation is based on the prices that similar pieces have sold for at auction.
An insurance valuation is the amount the piece would cost to replace in the retail market.
An insurance or probate valuation are generally considered the most “official”.
Can you value your own antique furniture?
It’s easy to research an item’s worth through the internet. Start with platforms like eBay, but check the actual selling prices of similar items.
Depending on the type and likely value of the antique furniture you have, it may be worth marketing it internationally. Internet-based platforms make it fairly easy to do this.
Here are established online platforms and other resources to get you started.
1stDibs
1stDibs is an online platform for buying and selling items of value, including antique furniture. You can track auctions to get an idea of selling prices.
Invaluable
Invaluable is an auction site for antiques and art. Information on past sales is free, which can give an idea of your piece’s value.
WorthPoint
WorthPoint has data on previous auctions that can help establish what your item might be worth. It also offers valuations. There’s a membership fee but a free trial is offered.
Kovels’ Antique Trader
Kovels has a large database of prices for a range of antiques. You must create an account to view it. It offers a free trial for the paid option.
Kovels’ Antiques & Collectibles Price Guide 2023
The annual Kovels’ price guide is the most trusted source of prices and valuations in the industry.
Victorian & Edwardian Furniture: Price Guide and Reasons for Value
This guide to antique Victorian and Edwardian furniture that will help you identify what might make your antique valuable.
How to use antique furniture to get a loan
Any valuable asset can be used as collateral to get a loan, including antique furniture.
To get a loan against antique furniture in South Africa, contact an asset-based lender like LoanAgainst.
At LoanAgainst, we offer short-term loans against a range of assets, including cars, jewellery, gold, art and antique. To get a loan, apply online now or contact us for more information about loans against antique furniture.
