Value Of Estate Pipes, Generally

[aquadoc]

How do you value an estate pipe or previously used pipe for a current model? How much value is lost when a pipe has normal wear and has been reamed down to the wood? I know that a pipe is worth whatever anyone will pay but there has to be general guidelines for pipes not in the "collector" realm of the world. For example, a Peterson that cost 125 new but has been smoked and reamed...a reasonable offer would be???

 

[Chasing Embers]

How do you value an estate pipe or previously used pipe for a current model? How much value is lost when a pipe has normal wear and has been reamed down to the wood? I know that a pipe is worth whatever anyone will pay but there has to be general guidelines for pipes not in the "collector" realm of the world. For example, a Peterson that cost 125 new but has been smoked and reamed...a reasonable offer would be???

When still buying, I had good luck with offers between $55 and $85 on similarly priced pipes. Then again, I did get two unsmoked Punto Oros for $25 each. Just depends on what the seller is willing to take.

 

[aquadoc]

When still buying, I had good luck with offers between $55 and $85 on similarly priced pipes. Then again, I did get two unsmoked Punto Oros for $25 each. Just depends on what the seller is willing to take.

That is helpful. Thanks.

 

[BROBS]

How do you value an estate pipe or previously used pipe for a current model? How much value is lost when a pipe has normal wear and has been reamed down to the wood? I know that a pipe is worth whatever anyone will pay but there has to be general guidelines for pipes not in the "collector" realm of the world. For example, a Peterson that cost 125 new but has been smoked and reamed...a reasonable offer would be???

If the pipe is still in great shape otherwise with no rim darkening or bite marks maybe $40-60.
if it’s got any issues go down from there.

 

[larryspencer]

I agree, with a little research you can find a deal.

 

[BROBS]

However I usually pay considerably less than this, and buy most my estates unsmoked.

 

[hoosierpipeguy]

I think a pre smoked estate in good condition will sell for around 60% of the original MSRP.

 

[boston]

Steve @ pipestud is expert. Suggest you check out his site for general ideas comparing the estates he sells w/ current prices on the same new pipes. I tend to agree with hoosierpipeguy for factory and currently available similar/same pipes...etc. Mileage will vary for boutique /artisan pipes, and pipes out of production. If it's one of a kind or otherwise no longer available, it could be worth more than the original price.

 

[oldgeezersmoker]

The old rule of thumb was an estate pipe was worth half a similar new model’s MSRP. Widespread discounting, the internet, eBay and the ease of ordering from overseas shops that aren’t tied to the antiquated distributor.system have, IMO, changed that. There simply are a lot more pipes to choose from out there, in all price ranges, new and estate.

IMO, for most Pete’s, Sav’s, etc, I think I would stop bidding at about 1/3 of real American retail (MSRP less about 15%). I am not at all disinterested in older, Vulcanite stem era Savinelli’s and have scored a few very nice ones in that range from reputable, widel follwed, eBay sellers.

 

[mikethompson]

I don't know if there is a magic formula that results in the value of an estate. I usually just looked at the pipe, looked at the price, and decided if it was worth it.

 

[craig61a]

The asking price would be whatever you’re comfortable with... and if it doesn’t sell, mark it down.

There’s no “Scott’s” price guide for used and old pipes. If you bought something figuring you were going to turn a profit on it, time to forget that mindset.

Basic marketing 101. Plus, the internet is awash in old pipes. Somebody gets on this site and raves about a particular pipe, then there is usually a spike in demand; wait 6 months, you can find it for much less...

 

[Pierre1965]

Too much grey area. For a current production pipe I'd say the above applies. When you get into older pipes too many things come into play. I like Stanwells, so is it a Redg No era pipe? Is it handmade? Is the stem handcut? Etc. I have a Stanwell 96 smooth with all the above and it took me several years to run one down. I don't know what they sold for, but SPC claims to have only seen two of them, so I assume they had a price slightly higher do to their scarcity. I've never bought a pipe as an investment or with the idea of reselling it so for me the only thing that matters is do I like it and am I comfortable with the price. If I were a seller I guess I would do like I do with real estate and look for comps and adjust my asking price accordingly.

 

[aquadoc]

Craig, yes I get that. I wanted the guidelines folks individually use to decide a price (or limits) on a pipe they are considering. In fact, I used some of the advice to buy a pipe yesterday evening. I really was not looking for a detailed "blue book", so to speak. Although, it would be helpful.

 

[shanez]

You seem to be more asking in regard to production pipes but I'll go ahead and throw in my 2 pennies for artisan pieces. (These are my "rules of thumb" that I use for personal purchases.)

Given reasonable condition, I usually plan on paying a quarter of what I estimate the original price to be but a third is a much more common price to pay with half on a select few and higher on exceptional pieces. There are some rare pieces (and some old pieces) that do sell for more than their original price but these are usually out of my price range anyway.

Unless we're talking about Dunhills. Then someone usually comes along and pays more than I can get the same piece but in better condition elsewhere. If you want a good deal on a Dunhill just click on one of the site sponsors that deals in estates and outright buy one for less than that auction site. There are even some sites in Europe that occasionally have new or un-smoked Dunhills for less than what people are bidding here. ?

 

[mso489]

Too many variables for a general rule of thumb. If there is something special about a pipe, you need to research it, and if you can't find a "comparable" item with a price, you have to sell what you think are its unique features/history. But let's say, moderately smoked five year old Savenelli mid-size mid-price pipe, I would want to see it half price of comparable new pipe. Then of course, everything is negotiable. If the prospect wants a particular pipe, another $20 may not matter, or it may. shanez say one-third, which is probably a better starting point for a shopper/buyer.

 

[oldgeezersmoker]

A word about price guides, from the past.

Bruce Spencer and some of his friends started Pipe Collectors International around 1984. He had earlier been successful in organizing knife collectors. For example, they even built a museum which was located off the Shallowford Road Exit of I 75 in Chattanooga.

One of their cornerstone accomplishments was publication of a price guide. At the inception of PCI, Bruce trumpeted the need for a price guide. Everybody listened, then went on about their normal activities, cheerfully ignoring this glaring lack of what some viewed as essential, you can’t have a hobby without it, information.

PCI is of course no longer with us. Whether the knife museum is still there I have no idea.

 

[sablebrush52]

I pretty much agree with almost all of the above. That first match lops 50% off the value of the pipe, then the rest is a matter of condition and collectibility. Pipes that have a loyal or irrational following tend to maintain more value and depending on the level of recognition might do slightly better than 50% of new and on occasion for than 100% of new. For the most part, 25% to 35% of new is about it for run of the mill factory or artisan pipes.

When you talk about the world of "collectibles" you are talking about a very idiosyncratic world, with "rules" that are made up by "influencers" (hate that word, but it's accurate), largely self made and self proclaimed. There's little rationality to it, but it is understandable and fun. Prices land all over the map with little reason save a self induced one.

 

[anantaandroscoggin]

I have noticed that "drugstore pipes" of yesteryear which once sold for $1.25 to $12.99 are often on eB starting quite a few multiples higher.

 

[BROBS]

I have noticed that "drugstore pipes" of yesteryear which once sold for $1.25 to $12.99 are often on eB starting quite a few multiples higher.

And a lot of pipes (and really all items) sit unsold on eBay for years and years. Why it never occurs to the seller to lower the price is beyond me.