The value of cast iron.

So... How much is my Cast Iron worth?

 

Wagner DO, Iron Mountain Lid, Two Griswold 866 Sheep

     That is another common question that I hear on a regular basis. Though I do my best to assist my customers in placing a price their items, it really does depend on a few factors.

     1. What is the condition? This is a common question that MUST be answered when pricing a piece of cast iron. Like any other collectible or antique, a piece of hollow ware that is in mint or near mint condition will fetch a higher price on the open market than one that has a lot of pitting or a crack.

     2. What is the brand? Most folks you talk to will recognize three major brands of Cast Iron Hollow Ware. In my opinion, out of the hundreds of manufacturers that have or do exist the US, these are the three most folks are likely to recognize: Lodge (still manufacturing cast iron today), Wagner Ware and Griswold. You can find more information on these companies here. I have customers that will only buy a certain brand of cast iron. Others simply don't care. They value functionality of the cookware more than the brand. Still others seek a specific type simply because it looks nice on a shelf. I personally favor Griswold. However, I use a Lodge No. 10 very frequently.

     3. What is the functionality of the specific item? In the world of Cast Iron Hollow Ware, there are three major types. Collectibles: These are not to be cooked on or with. They tend to be museum quality and usually fetch the highest prices. Users: These may be old, they tend to be common enough or in a less than perfect condition that folks are willing to take the risk of damaging them by using them. This is the most common type that I sell. The last are decorative or reproduction (spoken fake). The danger with these pieces are that they may have been made using questionable manufacturing techniques. In fact, I have come across tiny cast iron skillets used with candles. They have a big sign in bold letters that say "DO NOT USE FOR COOKING". Ever since I have found these I tend to avoid cast iron pieces of questionable origins.

No 7 Lodge Skillet Lid. A fairly uncommon piece.
Since the skillet is uncommon, it was a hard sell. I had
to find a buyer that already owned the skillet.

     4. Is there any sentimental value to the cast iron? A lot of times this hidden emotion will get in the way of somebody selling their cast iron. I actually had a friend who's wife did not know how to cook with cast iron. She became frustrated and told him to get rid of it and give it to me. He didn't really care about it, so he approached me about this. I asked him where she got it and he said he didn't know, but he knew that her dad got it somewhere. I had a funny feeling about the whole thing so I told him that we were going to re-season the cast iron and I would show him how to teach her to use the cast iron correctly. She came home from a trip to perfectly seasoned cast iron using methods found here. She was then very happy that he did not give away the collection of cast iron. As I suspected, over half of her collection were heirlooms that she received from a great-grandmother. The collective prices that I would have put on all these pieces would have added up to more than $400. For her though, they were worth far more.

     5.How rare or in demand is the item? With the advent of online auctions, many items that were once rare became quite available. Another consideration in rarity is that popularity of certain types of hollow ware cycle. For example, about 20 years ago Gem Pans became quite popular. In fact there a very nice collectors guide titled Griswold Muffin Pans which was published by Schiffer in 1997. This book is a fantastic aid in identify the scarcity and types of these pans. Nowadays it seems that the Lodge Wildlife Series the larger (Size 14 or 20) skillets are the desirable style.

I found this pan buried in the back bottom cabinet at an
antique store with a tattered and faded price tag for
$32.50. This same pan recently sold at auction for
$152.50. You can find the description of this pan in the
Griswold Muffin Pans on page 42.

     6. Lastly, and in my opinion, the largest driving factor in the price of an item is the price agreed upon by the person selling the item and the person purchasing the item. The value of an item is more of a philosophical ideal than anything. For example, my friend's wife who almost gave me a collection of cast iron. As stated before, I would have priced all the items for around $400. She valued those much more than that. She was a little upset when she realized that she almost gave away a family heirloom.

     What if you have a one of a kind skillet? Perhaps it is even a prototype? Well, that may be, but you will only receive for it what somebody is willing to pay for that item. If you have only one customer you may not have as high of a price compared to have two competing customers. I have lots of one of a kind rocks out back. Sure, they may be granite or some other common mineral type, but each one has its own shape and weight making it unique. If you are into collecting one of a kind items, I have some stones for sale. On the other hand, when it comes to a rare or one of a kind cast iron item, it just might be very desirable and therefore command a very high price in an open market.

     In closing, I cannot claim to be an expert on the value of your item. I am however, happy to answer any questions you might have on this topic. I do sell decent amount of cast iron and have a general idea of what prices different types of items tend to command. Please e-mail me using jim@castironjim.com with your questions. Please include pictures of the item as this will help in judging quality. Remember, you can always find more information at www.castironjim.com. Thanks for visiting and until next time, Cast Iron Jim out.