The antiques market is full of fascinating treasures, but it’s also fraught with potential scams. Whether you’re a seasoned collector or a novice buyer, it’s important to be aware of these common scams to avoid being duped.
Reproductions sold as originals
One of the most common scams in the antiques market is the sale of reproductions or fakes as originals. Unscrupulous sellers may try to pass off these items as genuine antiques, often charging exorbitant prices for them. To avoid falling victim to this scam, make sure you do your research and familiarize yourself with the characteristics of genuine antiques. If you’re unsure, get a second opinion from an independent expert.
Misleading restoration work
Some sellers may try to hide damage or restoration work in an attempt to sell an item for more than it’s worth. Always inspect items carefully and ask about any restoration work that has been done. If an item has been significantly restored, this should be reflected in the price.
False provenance
Provenance refers to the history of ownership of an item. Some sellers may create a false provenance to increase the value of an item. Always verify the provenance of an item and be wary of sellers who cannot provide any documentation to support their claims.
Bait and switch
In this scam, a seller advertises an item at a low price to lure in buyers. Once the buyer shows interest, the seller claims that the item has been sold and offers a similar but more expensive item instead. Always be wary of deals that seem too good to be true and stick to your budget.
Shill bidding
Shill bidding is a practice where a seller uses a secondary account or a third party to bid on their own item, driving up the price. This scam is more common in online auctions. Be wary of items that receive a sudden flurry of bids towards the end of an auction.
The antiques market is a fascinating world of treasures and history, but it’s also fraught with potential scams. By educating yourself and staying vigilant, you can navigate the market with confidence and avoid falling victim to these common scams.
