VANCOUVER(NEWS1130)- Sellers beware!
The Better Business Bureau has a warning if you're headed to a travelling antique show, hoping to make some quick cash from your collectibles.
It's received complaints from people getting bad cheques and poor prices from selling their valuables to travelling roadshows.
Lynda Pasacreta with the BBB says she knows these types of antique roadshows show up for a week and are heavily marketed.
"Consumers tend to get excited that our old junk will magically turn out to be worth a fortune. While some consumers may be sitting on a gold mine, going to these roadshows may not lead to a consumer getting fair value for their items,” she says.
Brian Grant Duff of
All Nations Stamp and Coin in Vancouver says your odds of getting a good deal are better with someone local.
"So the person is a local operator who's been around for some period of time. You know, normally they want to maintain a good reputation. They're going to be there next week, " he says.
If you are headed to a roadshow, Grant Duff says you can quickly google the outfit to check their background.
BBB offers the following tips to consumers looking to sell coins or antiques as investments:
Compare Prices Carefully. When you compare prices, make sure you are comparing identical items. A vintage $5 gold coin, for instance, is usually worth more than a newer $5 gold coin. The value of coins minted the same year likely will vary depending on the condition. Go to an antique mall or search on
eBay to get an estimate of your collectibles’ value.
Do not make an immediate decision. Consumers that are not as knowledgeable about antiques should not give in too easily or be afraid to counter-offer an asking price. Even if the offer is time-sensitive, do not be afraid to walk away.
Research businesses in advance. Before buying anything, make sure you know the name of the company, its address and, preferably, the company’s top brass.