Is There Treasure in Your Attic?

Do you have a fortune hidden in your garage, attic or basement? You’d be surprised to learn what collectors consider valuable.

In 1989, a man’s flea market purchase of a framed painting turned out to be a gold mine. He later discovered a folded-up document behind the painting: an original copy of the Declaration of Independence. It later sold at auction for more than $8 million,  according to History.com.

In 2012, someone in Martinsville, Virginia found his late great-uncle’s comic book collection in the basement. Those 345 comics fetched $3.5 million at auction, according to CBS News.

Gold in the Garage?

There are many stories out there about people finding lost treasure in their garages, basements or attics – another reason why Antique Roadshow has such a busy road schedule.  (Sadly, few of us have that kind of luck.)

However, while downsizing for retirement (and since Boomers’ kids are reluctant to take our ‘stuff”), it might be smart to take one last look through our “stuff” to see if we have “hidden treasure” in the items we’ve held on to, left for us by a relative or other loved one.

Hidden Treasure?

So, what do people find in their own homes? All kinds of things, says Glenn Spellman, at Spellman Gallery in New York City.

• Old paintings, even if they are damaged. “Sometimes people see old paintings, and if they see a hole, or if they’re damaged, they just assume it’s something to throw out. But antique paintings are easily repaired,” he says. It can be repaired by a restorer and might be valuable.
• Costume jewelry can be valuable, Spellman says he often finds gold in costume jewelry, especially  pieces from the Victorian era. Cameos, for instance, often contain gold. “Gold prices are high right now so a handful of gold can be worth over $1,000. Also, some costume jewelry is very collectible.”
• Vintage dishware, according to  Martha Stewart is valuable in certain scarce patterns.  “The price often depends on the object’s desirability and condition,” according to her website. “While a set of old custard cups may fail to sell for 50 cents, a four-color, four-piece mixing bowl set can cost from $45 to $65.” The value depends on the pattern and the condition. Spellman says he found a set of four Pyrex bowls that were about to be thrown out that he valued at $300. And there’s a brisk market for vintage Corningware on eBay.
• Furniture is tricky. Some stories on the internet say big brown furniture is at the top of the list of things our children don’t want. Richard Eisenberg, in an article in Next Avenue, said brown furniture like dining room tables and chairs and armoires (brown furniture) have become “furniture non grata.” But Spellman says Mid-Century Modern furniture is hot. “If it’s in good shape and a has a nice design, it’s quite sellable,” he says.
• “Old denim clothing can be quite valuable,” Spellman notes. Levi jeans are sought after, the older the better, he says. “There’s Levi’s from the 19^th Century that are worth thousands of dollars. Vintage clothes is a big category. Even rock and roll t-shirts from the 1970s and 80s can be worth hundreds of dollars, if it’s the right band and the condition is good.” Spellman says t-shirts from bands like Led Zeppelin and the Rolling Stones, and some of the early rap music artists can be valuable. Some t-shirts from the late 1980s and early 1990s are worth thousands.
• Vinyl record albums. “I sell a lot of vinyl records and there is a strong market,” says Spellman. “There’s a lot of people who come to my gallery looking for vinyl records and the average age is probably 30 years old. They’re really into it now. The categories where the value is going to be is jazz records on the Blue Note label from the 50s and 60s.” He says you also want the earlier pressings, preferably the first pressing, of a vinyl record. Some Beatles records can be valuable, he says, but most of the ones in the market are the later pressings.

A Hidden Treasure

Spellman says a few years ago a man in Oregon sent him a photo of a Korean painting. He recognized it as a mid-Century Korean painter. He sent it the photo to a colleague in Korea who in turn flew to Oregon to authenticate the painting.

“He ended up selling the picture for a few hundred thousand dollars,” Spellman says. “And the guy called me practically in tears. He says you don’t know how much this means to me. It’s totally changed my life. I’m just a professor in college. I have a young, teenage son and I wasn’t sure how I was going to pay for college. I love stories like that.”

Want to learn about selling online? Check out this class on June 6 – details at the link! 

YOUR TURN

Has any of your trash turned out to be a treasure? Or have you sold anything online?  Share your experience in the comments!

Rodney A. Brooks is an award-winning journalist and author. The former Deputy Managing Editor/Money at USA TODAY, his retirement columns appear in U.S. News & World Report and Senior Planet.com. He has also written for National Geographic, The Washington Post and USA TODAY and has testified before the U.S. Senate Special Committee on Aging. His book, “The Rise & Fall of the Freedman’s Bank, And Its Lasting Socio-economic Impact on Black America” was released in 2024. He is also author of the book “Fixing the Racial Wealth Gap.” His website is www.rodneyabrooks.com

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