Sam Snead Hats, ca. 1980
Well, I got these hats at the Greenbrier Resort at White Sulphur Springs, West Virginia, when I worked there. I worked there about eight years, from 1994 to around 2005. And during that time, they was remodeling Sam Snead's shop, and the ladies that was redoing it in there gave me these hats.
And did you know Sam Snead?
Yes, I did. Most any time you seen Sam, he had one of those hats on.
So you have two great pieces of history here. Sam Snead won his first professional tournament at the Greenbrier in 1936. He was a pro golfer for five decades, and he won 82 tournaments. These hats were made for him. It says right here, "Made exclusively for Sam Snead." And this one is signed by him. Now, you want to know value. In 2013, the estate of Sam Snead sold a number of his hats. The other auctions that have sold Sam Snead hats like this have sold between $200 and $600 a piece. And the ones that were sold at the estate of Sam Snead sold for $1,000 to $1,500 a piece. So Pete, here's what we're going to do. We're going to split the difference between them. And I would place an insurance value of the two hats for $1,000.
Well, that's good, that's real good.
Do you wear them?
No. No, I have stuck them on my head, but no, I've never wore them.
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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."
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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.
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