Worth Point Review Update

Do you value your items based on Ebay closed auction prices? Worth Point does. I do and I don't and here's why.

Why I sometimes do:

If there are a lot of your type of item on Ebay in the SOLD auctions, you can generally take an average of the closed prices and that will give you a general "Ebay value" for your items. This is helpful if you are selling on Ebay or to a dealer or auction house. If there is only one of your item in closed auctions, you may have a better idea of retail value because collectors are willing to pay more if an item is harder to find, even on Ebay. If you are an average person looking to sell some of your items to dealers then Ebay may be a good reference point for you. As a dealer, you should expect to basically double to triple the auction price to find a true retail value.

Why I usually don't:

When finding the true value of an item, you should use as many sources that are available in helping you determine worth. Reliable sources include Etsy, Ruby Lane, Google Images (for a variety of web sources), and yes, Worthpoint to some degree.  Ruby Lane shows their sold items for a period of time on the last page of the listings. This can be a starting point to determine worth although sites like Ruby Lane are going to be, on average, lower than book value because it is a mall with many competing vendors.

Due to the fact that Worth Point seems to get most (maybe all - keep reading to find out why I'm not sure) of their values from Ebay, I think it is highly overpriced for what you get.

Here are their fees (taken directly from their website):

Basic $9.99 / Month 25 Worthopedia Price/Item Lookups per Month 5 Classified Ads Free Profile

Professional $24.99 / Month 75 Worthopedia Price/Item Lookups per Month 20 Classified Ads Premium Profile

Power $49.99 / Month Unlimited Worthopedia Price/Item Lookups per Month 40 Classified Ads Premium Profile

I signed up for Power with unlimited lookups. I looked up a few items (you get only 5 with your trial) and was cut off from using the system again during the 7 days of my free trial. I cancelled my subscription immediately. What I received for the trial was not even close to enough to be indicative of this service's value or to give me a true idea of how they work. This was enough to make me question their business and run for the hills (note the date of this article - 2012).

In closing, I just want to say, use the power of the internet. Do a bit of research to find out which sites are reliable for pricing and information. Combine that with resource books and experts in forums (if you have the time and desire to do so). My valuation of Worth Point is, for purely practical reasons, about a 5/10.