1886 Leland Stanford-signed Joaquin Miller Book
GUEST: My father was a chiropractor in a small town up in the foothills, in California here, and sometimes, people didn't always have, um, money to pay. So they would often bring things that they thought might be of interest to my parents.
APPRAISER: Well, the book is by Joaquin Miller. It's called Unwritten History: Life Among the Modocs. As a piece of California history, the book itself is a collectible title. But what makes your copy special is the inscription. From Senator Stanford, who is Leland Stanford, who was a U.S. Senator from California, he was our governor...
GUEST: Okay.
APPRAISER: ...he is the founder of Stanford University. He is a very important figure in California history. The book by itself is a $150 to $200 book. But the Leland Stanford association makes this a much more desirable copy. I would estimate this at $600 to $800. But it's a terrific piece, and thank you so much for bringing it in.
GUEST: Thank you, I appreciate that.

$500 - $700 Auction
$600 - $800 Auction
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Understanding Our Appraisals
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
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