One of the most difficult aspects of selling an antique is determining the price. If you have a salable item, everyone wants it. Dealers will offer to buy, but they will almost always insist that you set the price. Friends and relatives may want the antique, but will either expect it as a gift or will tend to offer less than the top price you might get from a stranger.

Your old Christmas ornaments are worth more to a collector of ornaments than to anyone else. And you would probably think an ornament shaped like an angel is worth more than one that looks like a potato. It isn’t. (An old potato ornament is very rare and is currently worth over $100.) The problem is that you must know what categories of collectibles are in demand and who wants them, and you must learn the requirements of the serious collector.

For example, a recent out-of-production Madame Alexander doll in used condition is worth about 20 percent of its original price. That Madame Alexander doll in mint condition is worth about 80 percent of its original price. The same doll in mint condition with the original box in mint condition is worth at least 30 percent more than the original price. This is true of most collectibles; the original finish, box, labels, and directions add to the value. Poor condition, flaked paint, chips, dents, or missing parts may make a collectible almost worthless. Repairs may add or detract. A good repair to an old, usable nineteenth-century country chair will add to the price you can ask, but a new coat of paint on an old tin toy will lower the price by 80 percent. The toy would be worth more with the old, flaking paint.