NAC

Thank goodness we don’t call our radio show “The Value This Roadshow.”  If we did, we’d be in for big trouble, and at least one lawsuit if not two.

On Feb. 25 a lawsuit was filed by WGBH Educational Foundation, producers of PBS’s The Antiques Roadshow (1)against Treasure Hunters Roadshow(2), an Illinois based variation of the popular antiques television show.  The suit claims that Treasure Hunters Roadshow is infringing on the goodwill, trademark, and logo of the Antiques Roadshow.

The Treasure Hunter’s Roadshow is decidedly different in scope.  The name of their game is buy.  Their “appraisers” or dealers examine items and offer a price to the owners. Take it or leave it.  Who cares what the item might bring elsewhere, auction or otherwise.  It’s cash on the barrel, the oldest antiques game in town.

The Antiques Roadshow, on the other hand, does not buy merchandise.  Each “appraiser” must refrain from private offers.  They provide estimates based on either past auction sales or what they think the item might be worth in a gallery setting.   The numbers flashed on the screen are usually ranges from what the appraiser has said.  People go their way, often disappointed, sometimes surprised, but armed with information that might prove valuable in making a decision about their item.  (Business cards from the appraisers may be picked up in the lobby on the way out.)

The Treasure Hunter “schtick” is simply an expanded version of the “rent a hotel and buy scrap gold and silver.”  In fact, the suit calls THR “primarily in the business of buying scrap metal.”  The only difference is that they now include antiques, collectibles, and anything else that can or can’t be weighed.  This may mean pennies on the potential dollar or quick cash and an honest deal.  No one really knows.  In any case, now they’re ready for prime time, so hand over the remote control.

As you can probably imagine, the possibility of underpaying or undervaluing items for potential gain is enormous.  After all, isn’t that why dealers are in the business?  It’s also why a couple of Antiques Roadshow appraisers were accused of and eventually kicked off the air when they “appraised” a civil war collection at a low amount, proceeded to buy it, and then sold it for an enormous profit (not on the air).  The legal suit said that the owner had every right to assume their offer was fair since she depended upon them as reputable appraisers.

To coin an old auction phrase--caveat emptor!  Not just “buyer beware”, but seller as well.

The real question for us is not whether the law suit is valid or whether one side is more ethical than the other.  The question goes deeper.  It could be what is an appraiser and what do they offer? It’s something we deal with on a regular basis in doing our radio show (Value This with Brian and Leon).

An appraiser is one who provides an opinion of value.  This opinion should be based on education, experience, and wisdom.  It’s not a guess.  It’s also not an offer to buy.  An appraisal gives a value or cost of a specific item in a specific market for a specific time and set of circumstances.  This is based on data in the marketplace and communicated in a meaningful way to the client.  Some reports are restricted to the client only, others are for second or third parties.

Most appraisal organizations have a regulation against buying items one appraises.  It presents a severe conflict of interest.  Others state that if one has an interest in buying they must disclose such interest in the report and to the client and it must be approved prior to purchase and without any contingency.

An offer to buy is not an appraisal.  It is a business transaction.  It may be fair, one-sided, or downright  bad.  That happens all the time.  It’s called life.

The problem with Treasure Hunters is that they attempt to do both, have their cake and eat it too.  They want to educate the public on what an item is and how much it is worth, and then buy it for that amount.  The problem is that these people are not buying to put things in their home for pleasure or enjoyment; they’re buying to re-sell and make money, sometimes lots of money.

On the other hand, The Antiques Roadshow people can claim an item is worth a lot of money or might bring an enormous amount at auction, but until the deed is done, no one will know if they were correct or not.  Remember: entertainment loves a high number.

So what’s it all about?

1.  The Antiques Roadshow is a television show.  Television shows are about ratings.  It’s entertainment.  Fortunately, it’s produced by Public Broadcasting, so it seeks to be credible and sound, offering historical and educational benefits to the watchers.  It also won’t get the ratings without big number estimates.
2.  The Treasure Hunters Roadshow is about business--making money.  It only has to be credible enough to keep people coming and getting the cash.  If a few rumors begin or lawsuits surface about “cheating” people out of their heirlooms, the jig will be up and the pockets will dry up.  (Obviously it makes for good virtual television, whatever happens.)
3.  Value This will continue without a television show, unless one is offered, providing callers free information on their items based on our own personal experience and research data, suggesting potential values in appropriate ranges, depending on the intended reason for the call, and not offering to buy items.  Sometimes we’ll be right and sometimes wrong, but we should be close, and we’ll do it with a smile and a bunch of helpful tips.

 

Above all, here’s the real scoop.

Hire a professional qualified appraiser—one that isn’t looking for fame or glory or a chance to make a big financial killing.  Pay them for a genuine valuation.  Put it in writing.  Have them stand behind their numbers and explain how they got them.  You will then be armed with significant, perhaps priceless information.  Now you can seek to sell, save, give away or destroy the items with peace of mind and the assurance you did the right thing.   (You may not get on primetime tv, but sometimes that’s just overrated.)

---

1.  The Antiques Roadshow name may be copyright or trademarked.  We’re not sure.
2.  The Treasure Hunter’s Roadshow may be copyright or trademarked as well.  We’re not sure.  I guess this suit may figure it out.