Prices are crazy high.

[Janis Berzins]

We were coming through PA going West over the last several days and stopped at a variety of antique/junk shops. I am not sure what it is, but prices were crazy high. Examples I observed, Griswold small logo 5 skillets between 55-65 dollars. #8 Large Logo Smooth bottom that was so covered you couldn't tell condition 89 dollars. Wagner 3's for 30-50 dollars and one Wagner with heat ring #10 for 240. Not sure what was up, but it has gone crazy. Finally found one Large Logo Smooth #7 for 35.

[Cheryl Watson]

It is re-dunkulous!

for sure...... :(

[Janis Berzins]

Just stinks when you can't even buy a couple of decent pieces. I found an older National, I think it was an 8, on the floor in one booth and figured it was cheap, nope 50 dollars.

[Adam Hoagland]

[size=12]The silver lining is that the stuff that we already own and devote storage space in our domiciles to is only going up in value.  (At least that's what I tell myself whenever I go to a cast iron auction and wind up largely empty-handed at the end of the sale.)

But, yeah, the antique mall prices are starting to nudge up into that loco e-bay stratospheric high.  The good question is, are people really paying those prices, or are a lot of antique sellers just looking at asking prices on-line and then wishful thinking when they pull the Sharpie out to make out their tags?[/size]

[Chris DeSoto]

I'm relatively new to cast iron collecting but not new to collecting things as a hobby and I've got to say that I have occasionally gotten a better deal on ebay that the antique stores. I have actually taken an unpriced vintage item to the cashier and asked for the price only to have them turn to their computer, pull up ebay and give me an average price of the top three highest auction asking prices. This was without taking into consideration the condition of those items against the one I brought up. This is a major problem since most anyone has access to the internet and will look for the highest priced item of the one they want to sell and price there's in kind. Never giving a second thought as to whether there item has all of its parts, is damaged, functions correctly, etc.

[Mark R. Smith]

What I've seen around here is the shops and malls are way overpriced. Especially the booth type malls and shops. For the owner operator antique store they are a little more reasonable and will be able to  negotiate the price. Best deals are the occasional garage sale and estate sales in older parts of town.

[Jonathan Sutton]

Man, I'm really glad I ran into a couple of guys at the local flea market who sell stuff for a reasonable price (at least, it's cheaper than ebay, and they're really nice). (And they know their stuff, too!)

I've gotten a Vollrath #3 ($15), a BSR Red Mtn #7 ($25), and a BSR Red Mtn #8 ($40) from them in the last few weeks. (Okay, my wife was the one who wanted the Vollrath #3 because it was 'cute' and the BSR #7.) The #8 I could have gotten for $35, but it was really nice (the guy didn't want to sell it, it was so nice, but he had promised it to me the week before), and I want them to remember me when I'm looking for something special.

I got their phone numbers, so even if they quit going to the flea market, I can still get my fix.  8-)

[Jim Glatthaar]

I agree that antique stores tend to have very high prices.  Each time I go to New England I try to hit antique stores and every year I wonder why.  Last year I saw a no name skillet shaped heart star muffin pan for $200.00.  Another place had Griswold small logo skillets from $90.00 to $350.00 depending on the size.  Nonetheless, I will probably stop at them again this year :o

[Janis Berzins]

I continue to stop and check, but it really is amazing. I agree that people search the internet for their top prices. However, I believe that lately it is getting even higher. I partially blame that recent article and the fact that some companies are making "new high quality" #8 skillets for 100 each.

[Stuart Lowery]

Just stinks when you can't even buy a couple of decent pieces.

Janis,
  If you're looking for a certain type and size skillet, or ?, you might try a post in the "items wanted" section. It doesn't have to be a high end collectible, it could just be a quality user grade skillet that you want.
  Where do you live? I've been known to let some of my "extras" go to another WAGS member for a fraction of those crazy prices...
  I'll be glad to check to see if I've got one for you :)

[C. Perry Rapier]

While it is true that cast iron prices are higher than what they were three or four years ago, they pale in comparison to what they were thirty years ago. And thirty years ago a thousand dollars was a whole bunch of money. Look at the old newsletters that are available for WAGS members here. See what some of the prizes were back then. Back then if you had a piece to sell you shipped it to the prospective buyer, if they liked it they kept it and sent you the money, if they didn't like it they shipped it back to you. As we all know, the internet changed all of that. BIG TIME :o :o

[Janis Berzins]

Just stinks when you can't even buy a couple of decent pieces.

Janis,
  If you're looking for a certain type and size skillet, or ?, you might try a post in the "items wanted" section. It doesn't have to be a high end collectible, it could just be a quality user grade skillet that you want.
  Where do you live? I've been known to let some of my "extras" go to another WAGS member for a fraction of those crazy prices...
  I'll be glad to check to see if I've got one for you :)

I use the wanted section, haven't had too much luck on the things I need. I am always looking for new pieces. I don't think I "need" anything else, wait what am I saying of course I do.  :D

[Adam Hoagland]

[size=12]I was to an auction today below Lancaster, PA, that had a pretty good amount of cast iron at it.  Very little of it was unmarked, and over half was Griswold.  Honestly, most of the pieces were pretty common -- LBL smooth bottom or small logo skillets -- but there were a few pieces that were a bit less common. I don't think anything there had a blue book value over $150, and like I say, a lot of them were the sort of pans where there's a thousand out there for everyone who wants one.  In general, the quality was OK, but here and there a badly pitted griddle could be found, and several of the pieces needed cleaning.  The auctioneers were... disorganized... and I won't say any more about that here.

I came away with only one piece, and that was just an unmarked 755 skillet.  Most of the time, I couldn't even get a bid in on any pieces that I would have liked to have taken home before they were so far above their listed value that I wasn't interested anymore.  I did a little quick scratchwork when I got home, and quite a few of the pieces were bringing 1.5 or 1.9 times their listed blue book value (using the high end of any value ranges, and according to the fifth edition of the blue book.)  Two 746 no. 9 long griddles brought 2.1 and 2.3 times their listed value, and they both needed cleaning.  Very, very few things went for less than their listed value, and if they did then it was usually due to pitting or some other obvious flaw.  But even some fairly badly pitted pieces were commanding 1.7 or 1.9 times their list price.

Last September, not quite a year ago, I was to a different sale out west of State College.  Stuff better than this was going for giveaway prices compared to blue book, and it was being sold by a much better auctioneer (in my opinion.)  I don't know what to blame it on -- geography, economy, or e-bay -- but now I'd have to grudgingly agree with what Janis said.  When small logo Griswold brings almost twice what it's worth, consistently, all day long, then prices really are at the crazy high point.

But, again, at least the stuff I already own is maintaining value.[/size]

[Jonathan Sutton]

[size=12]I was to an auction today below Lancaster, PA, that had a pretty good amount of cast iron at it.  Very little of it was unmarked, and over half was Griswold.  Honestly, most of the pieces were pretty common -- LBL smooth bottom or small logo skillets -- but there were a few pieces that were a bit less common. I don't think anything there had a blue book value over $150, and like I say, a lot of them were the sort of pans where there's a thousand out there for everyone who wants one.  In general, the quality was OK, but here and there a badly pitted griddle could be found, and several of the pieces needed cleaning.  The auctioneers were... disorganized... and I won't say any more about that here.

I came away with only one piece, and that was just an unmarked 755 skillet.  Most of the time, I couldn't even get a bid in on any pieces that I would have liked to have taken home before they were so far above their listed value that I wasn't interested anymore.  I did a little quick scratchwork when I got home, and quite a few of the pieces were bringing 1.5 or 1.9 times their listed blue book value (using the high end of any value ranges, and according to the fifth edition of the blue book.)  Two 746 no. 9 long griddles brought 2.1 and 2.3 times their listed value, and they both needed cleaning.  Very, very few things went for less than their listed value, and if they did then it was usually due to pitting or some other obvious flaw.  But even some fairly badly pitted pieces were commanding 1.7 or 1.9 times their list price.

Last September, not quite a year ago, I was to a different sale out west of State College.  Stuff better than this was going for giveaway prices compared to blue book, and it was being sold by a much better auctioneer (in my opinion.)  I don't know what to blame it on -- geography, economy, or e-bay -- but now I'd have to grudgingly agree with what Janis said.  When small logo Griswold brings almost twice what it's worth, consistently, all day long, then prices really are at the crazy high point.

But, again, at least the stuff I already own is maintaining value.[/size]

I'm guessing geography had quite a bit to do with that. Lancaster is fairly close to the main line (i.e., rich people area for those not familiar with the area) and gets a lot of rich tourists with stupid crazy money burning a hole in their pockets. State College (especially west of it) is, well, not nearly as rich as Lancaster/SE PA and is not nearly as conveniently located for the people on the main line.

[Jonathon Davis]

[size=12]I was to an auction today below Lancaster, PA, that had a pretty good amount of cast iron at it.  Very little of it was unmarked, and over half was Griswold.  Honestly, most of the pieces were pretty common -- LBL smooth bottom or small logo skillets -- but there were a few pieces that were a bit less common. I don't think anything there had a blue book value over $150, and like I say, a lot of them were the sort of pans where there's a thousand out there for everyone who wants one.  In general, the quality was OK, but here and there a badly pitted griddle could be found, and several of the pieces needed cleaning.  The auctioneers were... disorganized... and I won't say any more about that here.

I came away with only one piece, and that was just an unmarked 755 skillet.  Most of the time, I couldn't even get a bid in on any pieces that I would have liked to have taken home before they were so far above their listed value that I wasn't interested anymore.  I did a little quick scratchwork when I got home, and quite a few of the pieces were bringing 1.5 or 1.9 times their listed blue book value (using the high end of any value ranges, and according to the fifth edition of the blue book.)  Two 746 no. 9 long griddles brought 2.1 and 2.3 times their listed value, and they both needed cleaning.  Very, very few things went for less than their listed value, and if they did then it was usually due to pitting or some other obvious flaw.  But even some fairly badly pitted pieces were commanding 1.7 or 1.9 times their list price.

Last September, not quite a year ago, I was to a different sale out west of State College.  Stuff better than this was going for giveaway prices compared to blue book, and it was being sold by a much better auctioneer (in my opinion.)  I don't know what to blame it on -- geography, economy, or e-bay -- but now I'd have to grudgingly agree with what Janis said.  When small logo Griswold brings almost twice what it's worth, consistently, all day long, then prices really are at the crazy high point.

But, again, at least the stuff I already own is maintaining value.[/size]

In my opinion, any "book" values are long gone and out the window. The books were written so long ago, and values are so far off, if you try to go by book values, you won't be able to afford anything. Like it or not, those days are gone and book prices are no longer relevant.

I have a nice little Martin collection, and I wouldn't sell any of them at Red Book prices, even common pieces such as 3, 5, and 8's.

[Cheryl Watson]

I have Totally gone off the auction circuit... Lancaster is my playground.
Stomping ground...

Until all of the hype stops... I am out.

Next market crash should be fun!

Not buying... Not selling... just watching the fun... or developing disasters?  :D

[Cheryl Watson]

I encourage everyone to go back to "the books" and read, really read the preface definitions.

Book values are based on:

Items that are FULLY RESTORED and known to be in EXCELLENT condition!

Out in the wild, you usually just don't know the true condition.

Buyer beware! :) :)

(the world according to me). 

[Cheryl Watson]

While it is true that cast iron prices are higher than what they were three or four years ago, they pale in comparison to what they were thirty years ago. And thirty years ago a thousand dollars was a whole bunch of money. Look at the old newsletters that are available for WAGS members here. See what some of the prizes were back then. Back then if you had a piece to sell you shipped it to the prospective buyer, if they liked it they kept it and sent you the money, if they didn't like it they shipped it back to you. As we all know, the internet changed all of that. BIG TIME :o :o

Yup, BIG TIME... a whole lotta pieces that were thought to be one of a kind, are no longer.  A whole lotta more of many things are now seen.  Factor that into your thinking. :) and pricing structures. :)

[Adam Hoagland]

In my opinion, any "book" values are long gone and out the window. The books were written so long ago, and values are so far off, if you try to go by book values, you won't be able to afford anything. Like it or not, those days are gone and book prices are no longer relevant.

[size=12]We have different opinions on the issue, but there's nothing wrong with that.  In my case, I'm not ready to jettison the ol' girl just yet.

I see it like this.  You're right that the red book is less useful than the blue book.  To the best of my knowledge, the red book was never updated -- the edition you'd get fresh from the publisher is the same edition that you would have gotten back when it first came out.  I can't comment on Martin specifically because I don't collect it, but for Griswold the red book is showing its age.

Even though its prices were first compiled in 1995, I think, the blue book has been revised four times since it was first published.  The most recent edition, the fifth, has a 2013 copyright date.  I know that some of the prices have been slightly adjusted compared to the fourth, because I had to reprint my own pocket cheat sheet price list when I bought the fifth edition.  So yes, it's been a long time since the blue book came into the world, but it's more current than its red cousin.

Personally, I view blue book values as the foundation.  I think that a lot of other collectors do, too, so I don't feel like I'm on my own when I say this.  I was to a sale less than a year ago (west of State College, like I said previously,) and quality Griswold was being sold for close to its blue book value in many cases.  On that day, some pieces that had nothing wrong with them were going for less than their book price.  Griswold-made ashtrays, in particular, were almost being handed out like party favors.  If the blue book was useless as a foundation for pricing, then I would have expected things to be going for much more than they sold for that day, since it was fairly recent.  Now, true, most of the time when I'm at a sale, Griswold iron brings a little more than its book value, but yesterday's sale was remarkable to me in that almost everything sold for much higher than I would have expected, based on blue book prices.  To me, it helped prove what Janis said at the beginning of this post, that prices were indeed crazy high right now.

I don't look at e-bay for values, but then again I'm only willing to use e-bay for cheap things that aren't much of a risk to ship.  Admittedly, my own personal rules about how I'll buy iron and where I quit bidding on it at an auction also serve as a way to force me to keep my foot on the brake, financially speaking.  If I'm only willing to go so high and no higher, maybe I don't get a big haul at the end of the sale, but I don't have a lot of buyer's remorse later on, either.

Collecting antiques isn't a bulletproof investment, though.  The market for Griswold could deflate tomorrow just as easy as it seems to have inflated yesterday.  But, no matter what happens market-wise, some day either me or my heirs will have to sell off a pile of cast iron that I've spent my life enjoying and accumulating.  With that thought in mind, and not trusting internet auctions to be valid indicators of worth rather than trend, I'm still a blue book devote.  It's nice to have an ever growing pile of antique iron, but it's nice to know that you stand a good chance of getting most of the money back (not accounting for inflation, unfortunately) if you had to sell it all tomorrow.

 [/size]

[C. Perry Rapier]

That's a very good post Adam. Thank you for saying this. To me the BB is a very useful tool. Some pieces it's high on and some pieces it's low on. Look at the skillet cover prices for Griswold. I'll take a couple semi loads at them prices.