1928 Gibson Granada Banjo
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GUEST:
I've had it for about eight to ten years. My husband and I went to a storage unit sale. I saw this and another guitar, and I got it, and we've had it for that long a time. Have you had this appraised?
GUEST:
I've had it appraised once, and they told me it was, like, between $2,500 and $4,000.
APPRAISER:
Okay, and what did you pay for it?
GUEST:
I paid three dollars.
APPRAISER:
Three dollars?
GUEST:
Three dollars.
APPRAISER:
Three, three.
GUEST:
For... three dollars. Like, three dollars?
GUEST:
Three dollars. Okay. The materials is maple back and sides and the resonator and the neck. It's Brazilian rosewood fingerboard, which is endangered-- that require a CITES certificate, permit, to ship outside of the U.S. It's mostly original. This has been added, which is no big deal. It has a plug on its side.
GUEST:
Yes.
GUEST:
Which, this is not an electric banjo. What it is is, people would put lights inside for their show, which a lot of banjo players did back in the '30s, even the '40s. It has two Christmas lights that are easily taken out. This was a 1928 Gibson Granada banjo. This is a tenor banjo, which is a short-necked four-string. The only issue this has is, there is a crack in the headstock that somebody put a screw in.
GUEST:
Oh, I didn't notice that.
GUEST:
It's not a huge deal, and it can be fixed. It really doesn't make a whole lot of difference. Price-wise, a little bit. The gold plating is in pretty decent shape. There's engraving under here-- there's some oxidation. You have to be careful what you use to get this off. You can't use solvents, because it will take the plating off, too. Oddly enough, the best thing is saliva.
GUEST:
Oh, wow. Really?
GUEST:
To take it off.
GUEST:
Oh.
GUEST:
'Cause it's just enough acid to break down the oxidation without damaging the plating. It's also a rosewood tone ring. You see the back of it.
GUEST:
Mm-hmm.
GUEST:
And there's the damage, but it's pretty minor. But all that is repairable. Considering that, this has a retail value around $7,000.
GUEST:
(both gasp) (chuckling) Wow. Oh, my. Wow, $7,000?
APPRAISER:
Yeah.
GUEST:
Oh, my goodness. (laughing) I did not expect that.
APPRAISER:
No.
GUEST:
I did not expect that.
APPRAISER:
You don't want your three dollars back?
GUEST:
(laughing) No.
GUEST:
Man, $7,000. Wow. Never expected that.
APPRAISER:
The other sign of a good banjo is, it's heavy.
GUEST:
I noticed that it was heavy.
APPRAISER:
The heavier they are, the more valuable they are.
GUEST:
Oh, really?
Appraisal Details
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
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."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
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.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
Appraiser affiliations: Finally, the affiliation of the appraiser may have changed since the appraisal was recorded. To see current contact information for an appraiser in the ROADSHOW Archive, click on the link below the appraiser's picture. Our Appraiser Index also contains a complete list of active ROADSHOW appraisers and their contact details and biographies.
