Storage Auctions

How to value things

How to value things
« on: March 21, 2011, 04:33:58 PM »
I have the last few days seen some pretty scary things when it comes to putting value on things.
Both in the real world and in here people all the time like to give advice on value.
Sometimes i wonder what the heck are you thinking, how can you give a advice like that, without double checking the facts.

When you buy  a locker and find soemthing cool/old/rare,don't just take any guy's word for it. If you don't know what it is, or when it is from or the value, don't let someone tell you what it is without checking the fact. Any value claims should be backed up if possible. "comps" If anyone gives you a advice on age and other facts, don't buy it blindly, you can burn your self badly.

At least try to get more then one opinion on the item, due your research, check it out with the pro's.
I have seen people beeing fooled and lost a lot of money because they took bad advice or incorrect advice.

Only known facts can be used to put a value on a item, and of course "comps".

The reason i am typing this thread, is because i have seen a guy loose 400 dollars this week on a bad advice.
I have also seen it twice in here this week, two bad advices on question of value and other specifications.

I find it horrible that someone can give others such wrong information, it is almost like they are sitting at home guessing what it is worth and throws it out there as it is THE guideline to follow. At the same time they pretend to know alot about the item, when it turns out they are totally wrong. That tells me, they do not know a jack ****, and should not give advice to others who honestly have said they need help to find out value and age.

So my advice to all of you who think you know things, please know what you are talking about, and back it up with facts.
If you can't back it up, then don't give advices. You might end up creating a loss for the other person.

Offline rulesforrebels

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Re: How to value things
« Reply #1 on: March 21, 2011, 05:06:42 PM »
Good point, also thanks for the tip on the radio the other day. I wound up looking up bing crosby special and found a ton of stuff bout these radios.

Though I'm not giong to get rich off of it should get me a decent buck and seems like there's a pretty big collectors market for them.

I'm probably going to give this one to my grandpa as he likes stuff like this but your right, someone told me it was worth about 75 to 150 if I remember correctly.

I havn't put much time into research but just a quick ebay search shows that $130 seems to be the going price for ones in not working condition so I imagine mine is worth at least that as the radio works, havn't checked the record plalyr yet as I did't even know it was also a record player lol.

Another good point is not only should you now let people tell you value who are buying from you and not only shoudl you not under value items but when your scoping out a unit don't overvalue things.

I see a box of Noritake China for example I could be like yeah I know replacements sells eac piece for like $26 I got over $500 worth of China. The reality of it thoug is that's an inflated price and there's not much of a market for it so you'll be lucky if you can get rid of the whole lot for $26/

Re: How to value things
« Reply #2 on: March 21, 2011, 05:18:50 PM »
Yeah if you need any more information on it, just let me know. I might have one or two things about it that you don't find online.

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