RINKER ON COLLECTIBLES — Column #1462

Copyright © Harry Rinker, LLC 2014

It Is In Excellent Shape - It Just Does Not Work

At almost every appraisal clinic I conduct, I encounter one or more pocket watches.

“Does it work?” is the first question I ask.

“It did.”

“Did is not does,” I respond.  There only are two responses to the “does it work” question – yes or no.  If a pocket watch or any object is not working, no is the mandatory response.

Before analyzing the “does it work” issue, it is essential to discuss the general public’s understanding of “excellent shape.”  The public’s interpretation of excellent differs significantly from that used by auctioneers, collectors, dealers, or others involved in the antiques and collectibles trade.  The disparity arises because the general public discounts age and the ravages of time when determining the condition of an object.  An object in excellent condition shows little to no defects, is complete, and in working condition.  An object considered in excellent condition by the general public is often no more than good or very good when graded using trade standards.

The antiques and collectibles trade uses a 10-point condition scale, with 1 being the lowest and 10 the highest.  While the C scale differs with collecting categories, the following C scale has universal application:

C-1: Parts value, that is to say, parts can be salvaged to be used in the repair and restoration of an identical object.

C-2: Poor.  The object shows extensive damage and/or wear and is often missing major parts.  The object has no display value.  The cost to restore or conserve the object will exceed the object’s value following restoration or conservation.

C-3:  Fair.  The object exhibits signs of heavy use and wear at first glance and can be missing minor parts.

C-4:  Good.  The object has visible surface damage and minimal display value.  Costs to restore or conserve the object might be recovered following restoration or conservation.  There is no guarantee.

C-5:  Very Good.  One has to look hard to find minor signs of use.  Collectors refer to a very good object as “lovingly used.”  The object is complete and in full working condition.

[Author’s Note:  From the C-5 grade forward, the object is assumed to be complete, in full working condition, and requires no conservation or restoration.]

C6:  Fine.  Age and wear issues spotted only upon close inspection.  In the 21st century, this is the minimal grade collectors are likely to accept, no matter the scarcity or desirability of the object.

C7:  Very Fine.  Although exhibiting minimal wear, the object has aged and mellowed.  It has lost its “like new” appearance.

C8:  Excellent.  The object has retained its like new appearance.  Minor surface problems may be evident upon very close inspection.

C9:  Near Mint.  The object has most of its assembly line luster.  There are no detectable problems on the object’s visual surfaces.

C10:  Mint.  The object appears as though it had just left the assembly line.  It is flawless.

While it may seem unreasonable to expect an object over 50 years old to avoid experiencing some change as a result of the aging process, collectors and others have such expectations.  A C-9 or C-10 object has never been used.  It may in the course of its history been removed from its packaging for inspection and/or display.  Thus, a C-9 or C-10 object may have been touched by human hands.  The assumption is those hands exercised the greatest of care.

The “arm’s length” test is the key.  When an object is held at arm’s length and damage is visible, the object should be condition graded no higher than C-5.   If an object is missing parts, it is graded at C-4 or below.  Finally, if an object is supposed to work and it does not, it also must be condition graded at C-4 or below.

The latter raises the question of whether or not an object should be returned to working order.  The logical answer is if the cost to return the object to working order adds more to the final value than the cost of conservation or repair, the answer is yes.  If only the answer were this simple. It is not.  There are multiple factors to be considered.

First, is it possible to find a person who has the skills to restore the object to working order?  The answer is not always yes.  Consider a non-working late 19th century pocket watch.  Today, watch repair is the provenance of jewelers.   If the jeweler is under 40, chances are that he/she has little experience with pocket watches.  “I will have to send it out” is not only a common response for a pocket watch but one I have encountered several times with my Movado wristwatch.

Fortunately, there still are old-time, traditional pocket watch collectors who take pride in their ability to repair antique timepieces.  They can be found by contacting the National Clock and Watch Museum in Columbia, Pennsylvania, and asking for the name(s) of skilled members of the National Association of Watch & Clock Collectors located nearby.

In the late 1960s, I purchased a hi-fi system consisting of a Marantz tuner and JVC turntable.  By the early 1980s, it was packed away and was one of the things, along with a collection of 33 1/3 records, that moved with me from location to location because it was “too good to throw out” and “one of these days, I will hook it up and use it again.”  In 2014, the tuner, turntable, and record collection wound-up at Linda’s and my Altamonte Springs, Florida condo.

As part of my 2015 New Year’s resolutions, I resolved to set up the hi-fi system.  My friend Hansmartin Hertlein, a fellow Lehigh graduate, came over to help.  It took only a brief time to discover that the turntable no longer worked.  Further, the tuner needed a cleaning.  By chance, I called Rock and Roll Heaven (1814 North Orange Avenue, Orlando), a vintage record store, to see if the owner could recommended anyone who could repair the turntable.  “Bring it in, I will take a look at it.  It may just need a new belt,” the owner replied.  I did.  After a quick glance, the owner told me that the turntable needed to be rebuilt.

I was thrilled when the owner informed me “I know someone who can do it.”  A quick call resulted in an immediate appointment with Archie Laird in Winter Park.  Archie, who claims to be a retired electrical appliance shop owner, not only fixed my turntable but cleaned my Marantz tuner and provided new wires for the speakers.  The total cost was a little under $150.00, about half the cost to buy a new system.   Hansmartin hooked up the system during Linda’s and my late January visit.  With apologies to Ronnie Milsap, I was “lost in the Sixties” for a full day.

Archie is no “spring chicken.”  He is among the last of his breed.  In 10 to 15 years, there will be no more Archie Lairds.  I got lucky.

Second, is the person who claims to be able to restore the object properly skilled?  Restorers are not licensed by the federal, state, or local government.  Anyone can claim to be a restorer.  Check the credentials of any restorer before engaging his/her services.  Do not be fooled by a fancy internet website or storefront.  Seek out and talk with individuals who have utilized the restorer’s services.

Third, insist on a cost estimate before allowing work to begin.  Do not allow the restorer to assign a before and after value to the object.  Have an independent appraiser do this to establish a sense of perspective on the cost versus the return on restoration costs.  Over the years, I encountered dozens of horror stories whereby ceramic restorers charged in excess of $1,000.00 to repair objects that are worth less than $100.00.  In every instance, the restorer convinced the customer the object would be worth far in excess of the repair costs.

Each restorer sets his/her own ethical standards.  When a restorer informs a person that “no one will ever be able to tell the object has been repaired,” the person is well advised to think twice about utilizing that restorer’s services.

Fourth, today’s buyers want objects “room ready,” one interpretation of which is “in working order.”  Buyers shy away from any object that is supposed to work but does not.  The issue is the potential cost of having the object restored to working order.  As a result, objects that should work but do not are viewed primarily by the trade as parts objects (C-1 on the grading scale).

Harry L. Rinker welcomes questions from readers about collectibles, those mass-produced items from the twentieth and twenty-first centuries.  Selected letters will be answered in this column.  Harry cannot provide personal answers.  Photos and other material submitted cannot be returned.  Send your questions to: Rinker on Collectibles, 5955 Mill Point Court SE, Kentwood, MI  49512.  You also can e-mail your questions to harrylrinker@aol.com. Only e-mails containing a full name and mailing address will be considered.

You can listen and participate in WHATCHA GOT?, Harry’s antiques and collectibles radio call-in show, on Sunday mornings between 8:00 AM and 10:00 AM Eastern Time.  If you cannot find it on a station in your area, WHATCHA GOT? streams live on the Internet at www.gcnlive.com.