8 NOVEMBER 2018 By Tom Helms When establishing a value on an item, a savvy owner will always consider the condition, location, definition of value and market before providing a price. Neglecting these factors can lead to an incorrect price that an educated buyer wouldn’t pay for whatever you are trying to sell. In September we were asked to do an educational appraisal seminar during Gila County Historical Museum’s Old Dominion Days as a fundraiser and community food drive. Forty people from Miami and Globe participated in the event. The art, jewelry, vases, baskets, lamps, pottery, books, dolls and other items brought by 22 selected participants were used to teach our first lesson: condition matters greatly in price. If the item has nicks, scratches, chips, repairs, is faded, water-damaged, frayed, rusted, missing parts, or is broken, it has minimal value with almost no buyers. Most of the items that were to be valued had conditional issues ranging from minor to major. The first lesson of the day was just because something is old and worn, doesn’t make it valuable. Lessons two and three were that location and market are important. If you have never traveled to the Globe area, you might not know that it is a historic mining town with historic buildings from that era. Globe residents who enjoy the trappings of vintage and antique items like antique miner’s lamps or local well-known former resident Governor Rose Mofford’s autographed Christmas ornament, will have greater interest in these items in this location as opposed to buyers in New York or Los Angeles. The further away from Globe these items get, the less value they maintain. Most sellers are familiar with eBay and use information from sites such these to attempt to find a value. But novices frequently base their desired values on an asking price as opposed to a sold price, which can vary widely. The sold number is the cost and is considered to be at “orderly liquidation value,” the number that a seller might use to sell the item. If the seller owned a shop and was looking for a higher value, it would be necessary to add the additional expenses such as shipping, insurance and commissions, for “fair market value.” Of course, the most recent sales must be considered as your comparable to establish a selling cost based on location for a price that could be used for a shop. For example, the aut og r aphe d C h r ist m a s ornament that would cost $10 in Globe would likely command less than $1 in Los Angeles. Additionally, “road show” values had to be debunked. Such values given are not useable and are also misleading because they are auction estimates. It’s entertainment with a splash of drama. National auction houses such as Heritage have disclaimers on their sites stating, “the auction estimates cannot be used as an appraisal number as they are estimates based on a range what the auction house believes the object might bring.” The moral here is to enjoy the show but ignore the estimated value. — Do you have an appraisal question? Email us at editor@arcadianews.com. We look forward to hearing from you. What goes into valuating antiques? ASK THE APPRAISERS Insurance products and services offered by Mutual of Omaha Insurance Company or one of its affiliates. Registered Representatives offer securities through Mutual of Omaha Investor Services, Inc., a Registered Broker/Dealer. Member FINRA/SIPC. Investment Advisor Representatives offer advisory services through Mutual of Omaha Investor Services, Inc., a SEC Registered Investment Advisory Firm. AFN42811 Art Mier Arcadia/Biltmore 602-265-8223, ext 240 art.mier@mutualofomaha.com Insurance. Retirement. Investments. Insure Your Possibilities ® LIMITED TIME INCENTIVES! Visit a Watt Communities sales office for great values on new homes. In our continuing effort to improve our product, Watt Communities of Arizona LLC reserves the right to make changes or modifications to plan specifications, materials, features, move-in dates or floorplans without notice. Brokers must register buyers upon initial visit. Limited time incentives available on select homes only. Square footages listed are approximate. Watt Communities, its contractors, subsidiaries, assigns or successors do not warrant its accuracy. No offer for sale or lease can be made, and no offer to purchase can be accepted prior to the issuance of the final Arizona Public Report, available at www.re.stat.az.us. Construction by WCA Development Services, Inc. ROC# 294976. Watt Communities of Arizona LLC is pledged to the achievement of equal housing opportunities. Information is deemed reliable as of 10.18.18 MOVE-IN READY! 4236 North 27th St., Phoenix, AZ 85016 480-887-4933 (option 1) BiltmoreLiving@WattCommunitiesAZ.com www.wattcommunities.com/biltmore-living u Three-story u 1,395-1,806 sq. ft. u 2-4 Bedrooms u Den or Loft (per plan) u 2.5-3.5 Baths u Two-car Garage u Priced in the $300’s 11900 N. 32nd St., Phoenix, AZ 85016 480-87-4933 (option 2) 32North@WattCommunitiesAZ.com www.wattcommunities.com/32-north u Two-story u 1,717-2,301 sq. ft. u 3-4 Bedrooms u 2.5 - 3 Baths u 2-car Garage u Priced in the $300’s 1555 E. Ocotillo Rd.. Phoenix, AZ 85014 480-887-4933 (option 3) 16ocotillo@WattCommunitiesAZ.com u Two-story u 2,432 - 2,875 sq. ft. u 3-4 Bedrooms u 2.5 - 3.5 Baths u Casita option (plan 2) u Up to $50,000 in incentives! u Priced in the $600’s ONLY 2 LEFT! NOW SELLING!

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