Antique Map Appraisal

Geographicus occasionally appraises large or important collections for tax, insurance, or inheritance purposes. Appraisals are subject to our hourly rates, may involve travel and research expenses, and must meet our minimum hours quota.

Geographicus DOES NOT offer off-the-cuff valuation or historical pricing data over the phone or by email. Most people who contact us asking what a map sold for or how much a map is worth are interested in knowing if they can turn their own maps into money, and if so, how fast and how much. At our discretion, we may provide such information free of charge, as it is part of the offer process, but only if we are interested in pursuing a purchase. For this, your best option is to fill out our pre-acquisition form.

Understanding Fair Market Value

It is important to understand what an appraisal is and is not. Professional appraisal organizations regularly talk about Fair Market Value. The definition of fair market value can be rather abstract:

Fair Market Value (FMV), in the context of antiques, is the price at which an object would change hands between a willing buyer and a willing seller, both being reasonably informed, acting in their own best interest, and under no pressure to buy or sell.

In plain words, this means what the item would actually sell for today, not what someone hopes it is worth or once paid for it.

An Appraisal Is Specifically Not

• What a dealer is asking
• What a seller hopes to get
• What an item "should be worth"

Instead, an appraised value is what the market has actually demonstrated it will pay under normal conditions.

The most important factors in determining this are:

• Recent auction results
• Private sales (when known)

Importantly:

• A single high auction result does not define FMV
• A consistent range of sales does
• Demand fluctuates. FMV is not static.

For example, if a 19th-century map consistently sells between $1,200 and $1,800, that range defines its FMV.

To complicate matters, a piece may have multiple FMVs depending on the market.

• Auction / eBay (wholesale environment) – often lower
• Premium Auction (mixed environment) – extremely erratic
• Flea Market (wholesale environment) – often lower
• Generalist or Consignment Dealer – middle
• Specialist Dealer (curated, guaranteed) – higher

Rarity vs. Demand

A key nuance in antiques: rare does not automatically mean valuable. Value depends on collector demand. An extremely rare but obscure item may have a lower FMV than a more common but highly desirable one.

What FMV Is Not

• Not insurance value (usually higher)
• Not replacement cost (usually higher)
• Not sentimental value (irrelevant)
• Not asking price on eBay (irrelevant)
• Not the highest known sale ever (outlier)
• Not the highest current asking price on the market
• Not a guarantee of sale
• Not a guarantee that an FMV can be attained