Waterman Silver Overlay Fountain Pen, ca. 1910
GUEST: I found 'em at a garage sale. I paid 50 cent for it and it was just laying on a table; I thought it was cool.
APPRAISER: How long ago did you pick this up?
GUEST: About seven months ago.
APPRAISER: This is a Waterman.
GUEST: Okay.
APPRAISER: Waterman pen, it's made around 1910. They're one of the most famous pen-producing companies in the world. They made thousands of different pens. And what Waterman did was they would number the pens. And on the bottom of the pen here, there's a number--420.
GUEST: Okay. Mm-hmm. Okay.
APPRAISER: That represents size of the pen and the number four represents the fact that it's a silver overlay pen. 20 is the largest Waterman pen they ever made.
GUEST: Wow. That's awesome.
APPRAISER: So it's the largest Waterman pen. Now if you take the cap off for a minute, you have here, it's a 14 karat gold nib.
GUEST: Oh, now, wow.
APPRAISER: It's a number ten. And this is a, an eyedropper filled pen. In other words, they would fill the pen with an eyedropper full of ink. This one in particular is really rare for the size and the fact that it does have the silver overlay. Without the silver overlay, at auction, a pen like this would sell somewhere between $1,200 and $1,500.
GUEST: Okay, that's awesome.
APPRAISER: With the silver overlay, it's going to sell, conservative estimate, at $4,000 to $8,000.
GUEST: Wow.
APPRAISER: Yeah.
GUEST: That's amazing. Wow. That's an amazing find. Wow.

$4,000 - $8,000 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.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
Appraiser affiliations: Finally, the affiliation of the appraiser may have changed since the appraisal was recorded. To see current contact information for an appraiser in the ROADSHOW Archive, click on the link below the appraiser's picture. Our Appraiser Index also contains a complete list of active ROADSHOW appraisers and their contact details and biographies.


