From time to time, people write to me asking the value of original flutes they hope to sell, or need to insure. And I need to put a value on flutes in my Research Collection for insurance purposes. My problem in both these areas is that I don’t follow the market, and so I haven’t a clue!
Anyone more educated than I have any suggestions to what flutes of various kinds are currently attracting on Ebay? Or a suggestion on other ways to put values on flutes?
Terry
Achievable values on antiques appear (from subjective observation) to be way down, at least on eBay and C&F private sales evidence, from what they were in the early 2000s. Only truly exceptional instruments seem to be pulling the sorts of prices they were then. It’s a buyers’ market! That is not at all helpful in valuing for insurance purposes. I guess that for adequately reliable insurance replacement valuation one probably still needs to go for peak values as there is no certainty that, should one be in the unfortunate position of needing to replace, one could get an equivalent instrument for less. Moreover, although modern maker prices are likely also suppressed by market conditions from what they might be, they have held up better (both new-made and second hand) than the antiques seem to be doing, and should one need to replace and not be able to find a close enough equivalent antique, having a new-made instrument may be the best viable solution (if your insurers will allow that!). Modern maker prices, (ignoring waiting time issues) are mostly similar to what the peak of the antique market reached.
I think the medium/low end prices for antiques have been less affected than the high end ones. Later C19th 8-keyers by “lesser” makers or unmarked are still fetching in the £150-250 range unrestored and the £500-1k range fully ready to play. F and Bb band flutes and “system flutes” are selling for similar prices (unrestored or playable) to those they fetched a few years back. It’s the R&Rs and similar which seem not to be reliably getting the sorts of prices they did, down by up to 50% from the £3-3.5k they peaked at in the mid “noughties”. But if one has a good R&R, I would still insure it for about £3k.
Checking out asking prices on dealers’ websites may help somewhat, although they don’t always show what things actually sold for or how long ago - and of course dealers prices tend higher than auction prices, eBay or “solid state”. So check such as Pamela’s, Tony Bingham, Shoreys’, even Just Flutes, http://www.earlymusicalinstruments.com/ and so forth. The main ones I know of are listed on The List.
Thanks Jem. That gives me some figures to play with.
I usually advise enquirers to check out the dealers sites, but advise that these are top-dollar prices. I reckon the dealers generally are playing the long game, figuring that sooner-or-later someone will be willing to pay that price for that flute. Flutes don’t take up much room, so if you’re not in a hurry to sell…
Terry