Hunting for treasure
Published 10:39 am Thursday, March 19, 2009
Don’t hold on to that broken gold necklace, unused guitar or Shirley Temple doll you’ve stowed away — get paid for that “junk” you removed during spring cleaning.
The Treasure Hunters Roadshow has rolled into Austin, drawing much curiosity, excitement and controversy as people line up for more than an hour at a time at the Holiday Inn.
Alan DeRaad, of Austin, brought in currency, coins and “odds and ends” Wednesday afternoon. He said he had no idea what his items were worth.
“It’s here in town, and I thought I’d take the opportunity,” DeRaad said of the Roadshow. “My mother wants to get rid of some of hers.”
Lynn Esplan waited next to a laundry basket lined with blankets protecting Hummel figurines and a Shirley Temple doll. About 20 years ago, the Hummels were appraised at $500 apiece, she said. She didn’t know if she would sell any of the collectibles at the show.
“I don’t know what to expect,” she said.
People don’t know what to expect, and that apprehension can be eased, Roadshow manager Anthony Enright said Wednesday, the second day of the show in Austin.
Enright — who said Austin has been “wonderful” — explained what the Roadshow is all about.
What started in 1996 as a toy roadshow, the Treasure Hunters Roadshow now consists of 12 teams doing more than 500 shows per year, typically in markets of less than 100,000 people.
According to Jason DeLong, vice president of the Treasure Hunters Roadshow, $708,000 has been approved to spend in Austin, and he expects they will spend most of that.
Enright said if the Roadshow believes it could spend more than that before the end of the week, more money could be approved.
The Roadshow does not have certified appraisers and does not claim to offer official appraisal services. Those seeking appraisals for insurance purposes only, should not attend.
“It isn’t kosher” to offer appraisal services and have buyers at the same show, said buyer Dave Wright.
“You can’t be an expert on everything,” he pointed out. The item will be put in a database of about 6,000 collectors and dealers, and the buyer will select the highest offer. Buyers get paid “on the back end,” he said, so collectors bid and drive prices up, benefiting both the buyer and the seller.
This is how the Treasure Hunters Roadshow differs from the popular Antiques Roadshow seen on public television: Treasure Hunters has buyers seeking items collectors want to buy; the Antiques Roadshow offers appraisals only. Therefore, prices are determined on market value — how much collectors are willing to buy for that particular item now.
“Fifty to 70 percent of the time, we have a collector,” Enright said. The Roadshow does not have collectors available for a couple categories — sports memorabilia and record albums. Other categories, like jewelry, coins, military memorabilia and musical instruments, are hot tickets at the moment.
The Roadshow has been booming as people are digging out their garages and attics in an attempt to make a little extra cash, Enright said.
Also, he explained, “Antiques have always been intriguing to people.”
At a typical Roadshow, the first couple days are usually slower, with high-end items coming in during the weekend.
By Wednesday afternoon, a 1979 Fender Telecaster guitar was sold for $1,100, and an antique target pistol went for $700-$800. One woman sold a handful of gold jewelry for $600.
A Herald employee brought in a 1953 Gibson guitar and a Mayberry banjo dating back to the 1930s or 1940s.
Enright typed the guitar’s serial number into a database and called a collector. The process can take time; occasionally, buyers will call sellers the next day to report back with offers.
The banjo — which was well-worn and not a sought-after brand — would likely bring $300-$400. The guitar ranged from $1,800 to as high as $3,000.
“The guitar market is down right now,” Enright said. Although older guitars are still in high demand, the Gibson may have brought as much as $4,000-$6,000 a couple years ago.
About half of Roadshow attendees are amateurs, said Enright, who suggested telling buyers previous estimated prices of items to help with the negotiating process.
“The thing about antiques is, it’s always changing,” Enright said.
Jewelry is hot right now, with the price of gold and silver very high. Don’t dismiss a broken bracelet or tarnished ring at the bottom of your drawer; the items may be wanted for their gold value.
On the other hand, a cameo brooch may bring big bucks not for its gold value, but its value as an antique.
Enright warns the public about the high mark-ups at jewelry stores, where a diamond ring may be marked up five to 15 times its actual value. For example, a wedding ring may cost thousands in a store, but if you try to resell it, it’s worth a tiny fraction of its original price.
“We don’t want to lie to people and make them think they have this great treasure,” Enright said. “We try to educate people.”
Roadshow visitor Gordy Bau may not have hit the jackpot, but he said his trip to the Treasure Hunters Roadshow was a “good experience.”
The Austin resident sold his 1971 class ring, some old coins and scrap gold, and received a check for $64.65.
He wheeled a suitcase containing an old accordion and carried an antique iron as he left. Bau said he knows the items are worth something; however, there’s no market for them right now.
“I didn’t feel I got screwed,” Bau said. “I’d come back.”
Enright said the Roadshow will likely return to Austin in eight months to a year. It will visit Fairmont and Owatonna in upcoming weeks.
The Treasure Hunters Roadshow runs from 9 a.m. to 6 p.m. today and Friday and 9 a.m. to 4 p.m. Saturday. For more information, visit www.treasurehuntersroadshow.com.