price/value puzzlement

[Frank Fusco]

We have started watching the Antiques Roadshow after a hiatus of several years. On the most recent one was a bench made by Nakishima (sp?). His work is mostly natural edge slabs highly polished. I have never been particularly impressed with his pieces as they seem relatively easy to make and are not very imaginative (IMHO). This one was valued at over $100,000.00. I believe anyone on this forum could make one very similar. I have a slab of walnut in the garage that could be used for a project like this. I can hire time on a 48" belt sander to flatten and sand the top. In my market here, I think I would have difficulty getting $500.00 for it. Where does the $100,000.00 come from?

 

[Bill Satko]

People with a lot of money?

 

[Ted Calver]

For the same reason that this sold for 140 million.

 

[Toni Ciuraneta]

This is the never ending debate. I see it in the same way I regard collectors. There are people that collect planes and pay a lot of money for them. Not only that if you look at Holtey or Sauer planes or others they are sold on some sort of regular basis. It is the same as paying an incredible sum for a rare post stamp.
Three factors must coincide to make that happen. Scarcity of the item, someone wanting to posses it badly and having enough money to pay for it. The value of things is given by us, they do no have an intrinsic value by themselves.

 

[Don Baer]

After taking the Class from Sam Maloof I made a few of the pedestal Tables that were identical to the ones using the exact same material, joining techniques and even used his finish on two of em BUT I could never ask what he got paid for them nor would I expect to. Why, because as well made and as exact as mine are they are still not made by Sam.

 

[Chuck Ellis]

Market value is determined by a willing and able buyer... or what the market will bear.

That said, I think a lot of the antique roadshow is hype for TV and not necessarily realistic.

 

[Rennie Heuer]

I had the distinct pleasure of sitting at a small table made by Nakashima. (The CEO of a company I worked for out of Philadelphia could afford it) The workmanship is something to be appreciated, to be sure. However, even if I had it, I don't think I could part with $100 grand for one.

 

[Bill Arnold]

... even if I had it, I don't think I could part with $100 grand for one.

But, it IS relative. To a lot of people, paying $100,000 for a table to have 'bragging rights' is no big deal. As to the price of a serviceable table, it would be much like 'regular' folks paying $500 for one.

 

[Toni Ciuraneta]

The right question is: How those people reached that level of price in their pieces? If we knew that, wouldn't we like to charge the same for ours?

Perseverance, knocking on many doors, doing something different to what is made at the moment, to mention some and many others that I let you think about.
Does anyone know how much Sam Maloof charged for his first sold piece? Besides I think that the approach is not the same when one is making pieces as a hobby and sell one of them from time to time, than having to make ends meet at the end of the month with what you make/sell. The pressure is completely different.