How to Shop Smart for Antiques

Antique shopping has long been a favorite American pastime. There are thousands of antique shops, malls and websites available for your perusal, and owning an antique is somehow more exciting than owning something new. But are you shopping smart for antiques? Before you start cruising the antique strip centers while on vacation, research antiques and know what you're looking for. Beyond that, you should also know the secrets of dealing with antique dealers, who just may be trying to get over on you.

First of all, not everything you find in an antique store is going to be a valuable original. In some cases, the antique dealer simply can't tell the difference between a fake and the real thing, and in the worst-case scenario, the dealer created the fake, hoping to sell it to someone who doesn't know antiques. For example, my wife came home a few years ago with what she thought was an authentic Persian rug dating back several hundred years. Later, we found the exact same rug at a flea market -- next to about ten of its manufactured brethren. When we had the rug appraised, we discovered that it was worth around $20. Not exactly a great investment.

Shopping smart for antiques means scrutinizing every piece and getting it appraised before you lay down any serious cash. Never have the antique dealer appraise it for you because, according to Antiques Roadshow, about 90% of antique dealers have never been professionally trained in appraising. Instead, take the piece to a third-party appraiser for an estimated value. At least then you'll know you're getting the real thing.

It is equally important to examine antiques for repairs that might diminish the value. For example, an antique table with broken legs that have been repaired by modern hands will drop up to 80% in value. The same goes for artwork, jewelry, other furniture and anything else that has been altered or repaired. When you buy a new stereo and it breaks, get it repaired; antiques, however, should stay as they are. Unfortunately, it isn't always easy for an inexperienced collector to tell if an antique has been repaired. Again, this is why an appraisal is important.