Vase or “V-ah-se” – Do You Know The Difference?

Image

Photo Credit: AP

By Tim Luke

Whenever we encounter a vase, we ask the owner if they know the difference between vase & “v-ah-se”?  While they are look a bit baffled, we tell them jokingly, “the difference is about $25 bucks!”  A vase is under $25 and “v-ah-se” is over $25.

This tale starts off with a vase found by family members cleaning out a relatives estate over two years ago.  Upon the discovery, the item was evaluated by an auction house and deemed worthy to be included in upcoming sale, making it now a “v-ah-se”.

Turns out, the piece is an 18th century Qianlong porcelain vase and the competitive biding was fierce.  It generated bids 50 times the estimate and sold for a record breaking $83 million dollars to a Chinese bidder.  The story does not stop here.  The new buyer reneged on payment and for the last two years the piece and the sale has been in limbo until January of 2013.

In a private sale, brokered by a London based auction company, the piece has changed hands to an Asian collector for $40 million dollars.  All sales are final at auction unless the bid is not honored.  In that case, alternative methods like a private sale can work out to be beneficial for all parties involved.

Give the Appraisal Guys a call (772-546-4853) or email (customerservice@tqag.com) to assist you with (Estate, Insurance, Divorce, Donation or Damage) appraisals or the liquidation of items.

Posted in Appraisal Advice, Auctions, Collecting, Finds, News | Tagged , , , , , , , , , | 2 Comments

British Barn Find Yields Blue Beauty

By Tim Luke

Photo Credit: Telegraph

Imagine the surprise upon opening the barn door to discover an unrestored 1965 Aston Martin DB5 sports car.  The car was purchased in the 1970s for 1,500 pounds or less than $2,400.00.  It was used occasionally for about 10 years before being retired to the barn for the next 30 years!

The sports saloon has less than 50,000 miles and all original parts.  The car has been cleaned up a bit plus some work done on the engine to get it fired up again.  The interior is in very good, all original condition.  As the photograph illustrates, the car has been well preserved.

Photo Credit: Telegraph

This barn find was part of an Estate inventory after the passing of the owner.  The personal representative for the Estate contacted an appraiser and auction house to assist with the appraisal and sale of the Aston Martin.  The car will be sold in England in May of 2013 with a pre-sale estimate of 150,000 – 200,000 pounds or $236,000 – 314,000.

This year also marks the 100th anniversary of the Aston Martin car company.

Great finds are hidden in barns, attics and garages.  This story illustrates the importance of having trained appraisal and auction professionals assist in the identification, valuation and sale of tangible personal property.

Give the Appraisal Guys a call (772-546-4853) or email (customerservice@tqag.com) to assist you with (Estate, Insurance, Divorce, Donation or Damage) appraisals or the liquidation of items.

Posted in Appraisal Advice, Collecting, Finds | Tagged , , , , , , , , , , , , , , | Leave a comment

Robots Are Not All Made The Same

#1 Battery operated toy robot.

Battery operated toy robot.

#2 - Battery operated toy robot with original box.

Battery operated toy robot with original box.

Recently, I was contact by an auctioneer in Colorado who informed me he had a client with a battery operated toy robot called,  “Mego Man Robot”.  The tricky part is both robots featured in the above photographs are called “Mego Man Robot”.   The difference are one recently sold for $21,000 and the other sold for $450.  Can you pick which one is which?

Based on the photographs you will notice subtle differences between the two.  The toy robot with the box also features the words “Mego Man” printed on the small white section of the hat, a bell on the chest, and a company logo marking on the lower left corner of the original box.  The other toy robot is more simplistic and basic in the design, no markings or company names and no original box.

Do you think you know what value goes with which toy robot?

If you selected the simplistic robot with no box as being the $21,000 robot, kudos to you!  That is the earlier version and is also approximately 11″ as opposed to the approximate 7″ of the other toy robot with the original box.  Both are in very good working condition but the taller toy robot is earlier with less examples existing today which accounts for the higher value.

The next time you are confronted with invading battery operated toy robots from clients, remember the toy in its original box is good but rarity and desirability of an earlier example will trump original box on a mass produced toy every time!

Posted in Appraisal Advice, Collecting | Tagged , , , , , , , , , , , , | Leave a comment

What’s It Worth Wednesday – Vintage Lamp

Join Auctioneer/Appraiser Tim Luke for his weekly segment on Fox WFLX 29 in West Palm Beach, FL.  The live in-studio segment is part of the 8am morning news line up.  This week’s viewer submitted item come to us from Rana in West Palm Beach, FL.

The item is a vintage lamp with a porcelain figural base.  According to the owner, the piece was her grandmother’s and she is interested to find out more information and current market value of the piece.  Once I get the opportunity to examine the piece in person, it will be easier to determine the condition and value of the piece.

How much do you believe the piece is worth?

All will be reveled on the “What’s It Worth Wednesday” segment during the WFLX Fox 29 morning show 8am hour.

The answers will be posted after the show along with follow up commentary!

Posted in Appraisal Advice, Collecting, News, What's It Worth Wednesday | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

What’s It Worth Wrap Up – Wall Clock

Anchor, Lauren LaPonzina with Suzy and Tim Luke

Auctioneer/Appraiser Tim Luke joined anchor Lauren LaPonzina for the weekly segment on Fox WFLX 29 in West Palm Beach, FL.  The live in studio segment is part of the 8am morning news line up.  This week’s viewer submitted item came to us from Susie in West Palm Beach, FL.

Susie remembers the wall clock being in pieces before her mother had the wall clock restored.  Today the clock resides on Susie’s wall in her home.  Besides the fond memories of the clock, she was wondering, despite the restorations, what the piece was worth.  Additionally, she brought in two Japanese porcelain pieces which represent a small fraction of porcelains in her home.

Overall, the clock was in fair condition and had a value in the $100 range.  The Japanese porcelain items were in excellent condition.  The small figure was in the $70 range while the plaque was hand painted depicting a village scene had a value in the $160 range.  My advise to her was have the family members pick out items they would like to keep because the sentimental value of the collection is priceless!

Posted in Appraisal Advice, Collecting, News, What's It Worth Wednesday | Tagged , , , , , , , , , , , , , , | Leave a comment

What’s It Worth Wednesday – Vintage Wall Clock

Join Auctioneer/Appraiser Tim Luke for his weekly segment on Fox WFLX 29 in West Palm Beach, FL.  The live in-studio segment is part of the 8am morning news line up.  This week’s viewer submitted item come to us from Susie in West Palm Beach, FL.

Vintage Wall Clock

The item is a vintage key wind wall clock and according to the owner, the piece was damaged years ago and professionally restored.  When looking at clocks, check out is the mechanism to see if it is still functional.  The case and the overall appearance of the piece also adds to the evaluation of the piece.  Susie is interesting to find out more information  and current market value of the piece.  Once I get the opportunity to examine the piece in person, it will be easier to determine the condition and value of the piece.

How much do you believe the piece is worth?  All will be reveled on the “What’s It Worth Wednesday” segment during the WFLX Fox 29 morning show 8am hour.

The answers will be posted after the show along with follow up commentary!

Posted in Appraisal Advice, Collecting, News, What's It Worth Wednesday | Tagged , , , , , , , , , , , , , , , , | Leave a comment

What’s It Worth Wrap Up – D’Amico Painting

Fox's John Favole, Sheila & Tim Luke

Auctioneer/Appraiser Tim Luke joined anchor John Favole for the weekly segment on Fox WFLX 29 in West Palm Beach, FL.  The live in studio segment is part of the 8am morning news line up.  This week’s viewer submitted item come to us from Sheila in Port St. Lucie, FL.

The painting was a gift from the artist to Sheila’s husband.  Over the years it has found its place of prominence in her husband’s man cave or garage!  The painting employs the palette knife technique of applying the oil paint with the knife resulting in a more textured work of art.  The piece depicts a beach scene with a distant sailboat.

Overall, the piece was in very good condition and the artist’s work has appeared at local auctions.  For insurance purposes, including the frame the piece has a replacement value of $500.  Not a bad gift, and I suggested the piece take up residence within the house!

Posted in Appraisal Advice, Collecting, News, What's It Worth Wednesday | Tagged , , , , , , , , , , , , , , | Leave a comment

What’s It Worth Wednesday – Florida Painter D’Amico

Join Auctioneer/Appraiser Tim Luke for his weekly segment on Fox WFLX 29 in West Palm Beach, FL.  The live in-studio segment is part of the 8am morning news line up.  This week’s viewer submitted item come to us from Sheila in West Palm Beach, FL.

Oil Painting

The item is an oil painting by Peter D’Amico depicting a beach scene.  The artist is known for using the palette knife technique in the execution of his paintings.  Sheila’s husband acquired the piece about 20 years ago and she is interesting to find out more information  and current market value of the piece.  Once I get the opportunity to examine the piece in person, it will be easier to determine the condition and value of the piece.

How much do you believe the piece is worth?  All will be reveled on the “What’s It Worth Wednesday” segment during the WFLX Fox 29 morning show 8am hour.

The answers will be posted after the show along with follow up commentary!

Posted in Appraisal Advice, Collecting, News, What's It Worth Wednesday | Tagged , , , , , , , , , , , , , , | Leave a comment

Tim Luke Auctioneers for Episode of Baggage Battles

 

Auctioneer Tim Luke

Auctioneer/Appraiser Tim Luke was in Los Angeles, CA on March 3, 2012 to serve as auctioneer for a taping of Travel Channel’s new reality show, “Baggage Battles.”  The show debuts April 11, 2012, and follows three teams of experts traveling to various auctions competing for the best auction deal they can flip for a profit.  The episode featuring Tim as the auctioneer will air on the Travel Channel, Wednesday, May 9, 2012 at 10pm eastern.  Check local listings for times and channel.

The sale took place at the City of Industry, a suburb of Los Angeles, CA at the warehouse facility of PropertyRoom.com on Saturday afternoon, March 3, 2012.  RL Auctioneers provided the online bidding option with a live video stream of the auction.  The sale featured 300 lots of various electronics, Apple products, jewelry, purses, furs, kitchen items, tools, gold items and a variety of power tools.

Preview of the Auciton Items

The day began with a steady stream of auction bargain hunters making there way through the preview noting items of interest.  By the time the auction started over 300 people assembled with bid cards in hand.  The camera crews were positioned throughout the crowd and the on-air team members were positioned close to the front.

Crowd of Bidders

The crowd responded with active and aggressive bidding competing with online bidders for gold, iPods, computers and digital camera.  The day was an overwhelming success and the outcome will be edited down and presented in an episode of “Baggage Battles” on the Travel Channel, Wednesday, May 9, 2012 and 10pm eastern.

More Photo Highlights:

Auctioneering from the Warehouse Bay Door

Over 300 in Attendance

Oh, The Humanity!

Posted in Auctions, News | Tagged , , , , , , | Leave a comment

Pop Art – Pop Investment!

Photo Credit: Sotheby's - "Sleeping Girl" Estimated at $30 - 40 million

Art fascinates me because of its diversity in appeal, meaning, feeling and value.  We are often asked what artists or genre should be collected now in hopes of a future windfall.  We often respond, “We are appraisers not oracles!”  Followed by, “there are many factors that make a piece valuable.  The condition, rarity, and desirability all play a major role in determining value of a piece, especially at auction.”

A fine example of this is aptly illustrated in the story behind the artwork, “SleepingGirl” by Roy Lichtenstein.  In 1964, Hollywood agent Phil Gersh and his wife paid $1,000 for “Sleeping Girl.”  The piece rested with the family for the next 48 years.  Having never been on the auction block, the piece makes its debut at Sotheby’s with an estimate of $30 million – $40 million.  Because the piece has been in private hands, coupled with the desirability of Lichtenstein’s ladies, the sky may be the limit when bidding begins in May 2012.

“All of Lichtenstein’s other girls have been traded over the years,” said Sotheby’s Tobias Meyer.  “This is one of the last Pop icons that has remained in the she collection, and collectors have been waiting for it.”

Photo Credit: Christie's "I Can See the Whole Room!...and There's Nobody in It!" Sold for $43.2 million

In November of 2011, Christie’s offered “I Can See the Whole Room!….and There’s Nobody in It!” by Lichtenstein and the piece hammered down at $43.2 million, a record for the artist at auction.

The moral to this tale is always collect what you like.  If it increases in value over time, it is an added bonus.  If not, you have still collected a piece you like!  Not every piece is going to appreciate 10,000% so enjoy your collection and keep looking for fun and unique items.

I will post a follow-up to this story with the final selling price of the piece in May 2012!

Posted in Auctions, Collecting, News | Tagged , , , , , | 1 Comment