She Just Didn’t “Get It”

September 26, 2011 | Julie Hall

Though my efforts were admirable, my client simply did not want to hear the values I placed on her “heirlooms.” I was there in her lovely, traditional home getting paid handsomely for a couple of hours of my time to offer her an opinion of value, but I am not certain she heard what I had to say. As with all of my clients, I have a way of being succinct and direct, yet kind and compassionate. I offer guidance they can trust and direction based on the market and where it is headed. It is not always an easy combination to attain.

In her home, all things were phenomenally valuable according to her. She had, after all, done her research. Her figurines were worth far more than ever recorded, and simple ceramics or collectibles were off the charts. It doesn’t take a rocket scientist to know these figures just aren’t applicable, especially now. I tried to bring her down to a realistic place and questioned where she got these “values.” Some came from research a dozen years ago when the market was strong, and others were on very high retail sites. These are not viable sales comps.

This is the new reality. It is worth what someone is willing to give you for it, and in this economy if the offer is fair, take it. Just know what you have first.

When researching prices on the internet, compare apples to apples and not just asking prices on retail sites. Find out what the items are actually selling for.

A rude awakening, perhaps, but gone are the days of spending wildly — at least for the next few years.

His Outgoing Message Said …

September 12, 2011 | Julie Hall

“Hi. I hope you are going to have a great day. Sometimes, you’ve just got to go out there, do your best, and grab what you can. Make the most of your day and make it a great one.”

You may recall last week I wrote about a lovely man who is dying and his energy and attitude were incredible. He lifted me up with his words and charisma. Yesterday I called him to reconfirm an appointment to come and look at items he wanted to sell in order to donate the proceeds. His outgoing message was quoted above.

I thought to myself with so much going wrong these days, here is this one gentleman who probably doesn’t have much time left, and yet he is making a very strong impact on those around him. Touching them in an incredibly selfless manner. We don’t see that often, do we? Not in this me-me-me world.

It is difficult for us to reach deep down and pull up all the good that is within us, especially in the midst of the many challenges we face today. But if this one man can project beauty and goodness in his darkest days, we can too.

So I will add only one thing to his outgoing message: Smile a lot today, especially to those you don’t know. You never know what challenges they are facing.

Your Reality Check for the Day

September 5, 2011 | Julie Hall

My clients have taught me that in the end, the worth of an item is measured only by the joy it brings at a particular point in time. Many of us claim to cherish our possessions, only to discover that with the passage of time, they don’t mean as much anymore, or they have become a burden to us in some way.

Perhaps our tastes have changed. Our home is too cluttered, or the sheer volume of what we own has caused marital strife. Maybe you feel guilty because mom passed away and you feel the need to take a lot of what she owned.

Today, more and more people are selling their stuff to downsize, make extra money, empty an estate, or to simplify their lives and not have their stuff own them. I’ve seen each scenario described, and I have witnessed what appear to be love affairs between people and their things.

A recent client told me he was terminally ill and he had many collectibles and oddities he had collected over the years. He wanted me to come over, sell what I could, and send the proceeds to benefit a wonderful organization. What a beautiful thought, but it’s what he said that made me really think: “Mrs. Hall, it’s time for someone else to enjoy these items which brought me so much pleasure. I am blessed beyond measure. These are just things that I had fun fixing up and looking at. But it is a humbling thought knowing someone won’t make it through the night, and it’s time to move forward. My job right now is not to worry about this stuff … it’s to live as long as I can!”

Suddenly, everything shifted as his words sunk in. I always thought I was unique to my industry – that while I was an expert in personal property, I never truly had love for these things, just appreciation. Clients like him have taught me what’s really important in life.

“B GR8FUL”

August 8, 2011 | Julie Hall

The license plate on the car in front of me during a long stretch of monotonous highway read, “Be grateful.” I couldn’t help but wonder if this was a personal message to me, just returning from a wonderful weekend with my parents in Florida, or if it was meant for all who read it, spreading a positive message during uncertain times.

My husband and daughter were snoozing in the car and I was pensive as usual behind the wheel, thinking about everything from the economy, to finances, to family to you name it. I, like many of you, am worried about the state of our economy and where it will leave our generation in the years to come. I worry about my daughter and her education; will she be okay during this craziness we are experiencing? Will she have work in the future? Will the economy bounce back or are we headed for a recession? So many people struggling. News images of drought, famine, earthquakes, shootings, a downed military helicopter.

The worries seemed endless and my mind began to wander while I was driving. Then I saw the simple license plate: “B GR8FUL.” I know that I had an instant calm when I saw it. I know that was a message for me to take these worries and transfer them into appreciation for all that we do have. When you look at the grand scheme of things, we really do have so much to be grateful for. So the next time your mind races with an endless stream of worries, try to shift your thoughts to appreciation. You’ll feel much better!

Why can’t I determine value on the internet?

July 25, 2011 | Julie Hall

Q: You make it sound complicated to establish value of my heirlooms. Why can’t I just look at the internet and find the value myself? Surely there’s plenty of stuff for sale on Ebay that I can find a similar item and see what they are asking for that item.

A: The arrival of the 21st century has enabled us to find 90% of what we are searching for on the internet. What a great tool — but with greatness also comes weakness. What a double-edged sword. If used correctly, you can find the answers. If used incorrectly, it can truly mislead you, or cause permanent damage to one’s reputation.

I read numerous articles, newsletters, and blogs; I see so many wanting to research what their possessions are worth.

There are multiple factors involved in assigning a value to a particular item, not limited to the following: marketability, condition, collectability, age, rarity, provenance, materials used, handmade vs. factory made, etc. Age alone is not the only important characteristic, for all that is old is not necessarily valuable. Original condition is a very important factor, as is rarity.

One problem is everyone seems to believe they have something hard-to-find or rare, based on family stories told over years. Families are often disappointed to learn that the old bench great-grandfather made in 1857 is just an old bench and has more sentimental value than monetary value.

People have a tendency to jump onto Ebay, which is not always a good thing. While Ebay is a huge site with a broad variety of items, the market is currently down and often cyclical. There are better times of year than others to sell on Ebay. It’s also important to compare apples with other apples, and not an item that just looks like grandma’s old figurine. You must first have an accurate description of the item, then you can begin your search.

Remember too, the cardinal rule: If you go searching on the internet, make sure you accurately find the price the item sold for, and not just the asking price. Many times people say, “Julie, you only appraised this item for $200 and I see it on the internet for $675. Why is your appraisal so different?” My research in comparables accurately depicts what it sold for. Anyone can ask any price they wish. Go on Ebay and you will see some pretty ridiculous asking prices! But note, the items have not sold for these prices.

It is important to also remember to search multiple search engines, as well as different values: not just Ebay, but online auctions, in-person auctions, estate sales, etc. Find the fairest comparables you can. Keep in mind that professional appraisers have extensive training and knowledge in research, writing, and databases, which the average person does not have. When in doubt, please hire a professional appraiser to offer you the knowledge you need to make good, sound decisions about your personal property.

It’s Better to Be Safe Than Sorry

July 18, 2011 | Julie Hall

You know you are in trouble when an expert shakes his head and says, “With the way the economy is going ….” I share this because I sat with an expert just yesterday and he offered me sound advice which I want to share with you.

He’s not just a highly successful jeweler. He’s been in the business 60+ years and knows a great deal about his industry. I also knew immediately upon meeting him that this older gentleman had extensive knowledge about the market, where it’s headed, and what we can expect in the future. Many clients ask me on a daily basis what my thoughts are on the market, so today I offer a little on precious metals and gems.

My mom had given me some scrap gold to sell and I have several items I no longer wanted, but some of the pieces are very nice. So I went to him for a little advice: Should I sell now, or hold onto it for “a while?”

His eyes and demeanor were like that of a wise old sage, and he said the following:

1. Don’t sell these items now if you don’t need the money. One day, these items will probably be worth more than cash. With the way the economy is going ….

2. In his opinion, gold may very well hit $5000 per ounce in our lifetime, but not in the immediate future.

3. If the US dollar lost its power, you would still have items to barter with. At least you would have it, and it’s better to be safe than sorry.

Now, I know this isn’t rocket science and we’ve heard this before. But the warmth and wisdom in which he delivered this information forced me to take heed and really listen. So for now, those items are tucked back in the safe where they belong, taunting me with the question, “Will I ever need to pull it out in the future, if things got really bad?” Well, at least it’s there if I need it.

What is Value?

July 11, 2011 | Julie Hall

Let’s start by addressing what it is not. Value is not a price you see on the internet or in a store. That is only a numerical figure someone conjured up, very often based on their personal sentiment towards the item, or a price they once saw in a book. The economy pretty much tossed that out the window. It’s not the story the family handed down for generations that a particular piece is “very valuable.” Maybe it is, but most likely, it’s not. Sure it’s old, but that alone doesn’t guarantee value. It may just be old.

Value is a very personal thing. People want to believe what they have (or what grandma has) is valuable. Price is determined by supply and demand, as well as the collector market. As I have often said, there must be a demand for what you have. You might have an antique china set from grandma — so does everyone else. The supply is bountiful, but the demand simply isn’t there and this means the price is not going to meet your expectations, regardless of what they paid for it. Those days are long gone.

If you have something rare (and most people think they do), you will need a professional personal property appraiser to confirm that, and also recommend where it should be sold. For the record, “rare” means extraordinary, like a flawless diamond, and most of us do not have that. What we have, and what we inherited, is a lot of stuff that is good and useable, but not necessarily valuable.

When in doubt, bring in someone like myself so that you can move forward and make good, solid decisions for your personal property. Set your expectations accordingly so you will not be disappointed, and may, in fact, be pleasantly surprised.

One Chip Can Ruin Everything

May 2, 2011 | Julie Hall

In my world of personal property, one little chip on a porcelain piece can mean the difference between going into the trash and selling it for far less than it should have sold, had it been perfect. As an appraiser of fine items, I know that original condition is just one very important characteristic when assigning value.

My entire career has centered around selling items that are in good, original condition — not stripped of original finish, not repaired, not refurbished — just plain, old original condition. It is also that same original condition that attracts the collector toward the mellowness of color that only the passage of time can create on a beautiful antique wood piece — imperfections and all.

Those imperfections “prove” to that collector’s discriminating eye it’s true age, and the history and personality of the piece. Worn leather, distress marks, scars from accidents, etc. are all part of the life our antique possessions have led before they came to us.

The collector knows some of these marks are positive attributes, but the average person is in search of perfection — perfection of body, perfection of mind, perfection for each facet of their lives.

It suddenly occurred to me that we should look at ourselves and each other in the very same manner as that special collector. We are aging, we have earned our stripes, we have gained insight and wisdom through the passage of years. Yet we too have many imperfections: a chip here, a chip there, a few fracture lines. We should strive to do our best to live with our original condition for as long as possible.

While one chip can greatly diminish the value of an antique platter, our own self-worth only grows deeper with our well-earned battle scars from a life well lived.

Life is Like a Track Meet

April 11, 2011 | Julie Hall

As a middle-aged adult, those junior high kids have a way of making it look easy. I honestly don’t remember having that kind of energy, but I know we all did.

Attending my teenager’s track meets, I find myself in awe of the high jumpers and the hurdlers. Observing them, in all their youth and vigor, I could see that it takes even a young athlete great effort to get up and over that bar and those hurdles. There is a rhythm in their approach, a method to the madness that the spectator marvels at. Tremendous coordination of body, mind, and spirit must synchronize to successfully clear those hurdles. Leaping into mid-air, up and over an obstacle you cannot see at the last moment requires forethought, guts, and faith that they will achieve their goal.

Watching each of them focus on the task at hand and seeing the power of their “take-offs,” the sound of their pounding feet on the track, and the grunts from overexertion, I see sensory proof of their efforts, victories, and momentary defeats. Life is very much like a track meet.

These are among the great lessons that teach us our lives are a series of hurdles and high jumps. Regardless of age, we are often reminded that we too have our own obstacles and fearful moments. It takes courage and faith to overcome them, or at least face them. We too will fall and get hurt many times in life, but we must get up and keep going, just like these kids.

Every time I have problems getting motivated, or even days when I realize I am having a pity party for myself, I think of those thundering flashes of feet on the track. Those kids are scared and vulnerable when they step on that track for all to see, but it’s the champion inside us that keeps us moving forward and over those hurdles.

“I know you paid $2,000 for it, but …”

February 28, 2011 | Julie Hall

If I had a dollar for every time I said this to a client, I would be a wealthy woman. It is a difficult occupation being an estate expert who specializes in personal property. They call it personal for a very good reason. When people go to sell their items, everyone gets very personal about them and feels they might be worth a fortune.

As one who has handled tens of thousands of personal items in my tenure, I can assure you very few pieces actually have truly significant value. I know you paid a considerable amount for that sofa, or candelabra, or sideboard, but in today’s market, that is a thing of the past. It’s a hard pill to swallow, I know.

The truth is, when times are good, people simply pay too much for things. Now, due to economic reasons, everyone is recycling personal property, buying at estate sales and auctions, and really saving a great deal of money not buying retail. When we hear clients lamenting the fact that they paid $4000 for a sofa and today can only get $600 for it, they want to know why!

In a nutshell, the styles have changed, the times have changed, younger women don’t like what the older women like, and we have too much supply of traditional furnishings as our older loved ones leave us. The more supply that comes on the market, the lower the prices will go.

So, hold onto your hat when you go to sell your furniture or traditional items. As hard as it may be to hear, remember … don’t shoot the messenger. I’m just doing my job to prepare you!