I recently visited LaPedis in his hometown of Denver to learn how to spot valuable items.

What’s Hot and What’s Not

My first lesson came during our visit to his local Goodwill store. There, LaPedis found a signed graduation speech by President Lyndon B. Johnson. While the signature couldn’t be authenticated on-site, if it proved to be real, LaPedis was certain it could fetch at least $100. For a purchase price of $5, he was willing to take the risk. Later, a quick call to a local appraiser proved he was right.

Along with signed presidential memorabilia, the best items to consider purchasing for resale value, according to LaPedis, inclthe best items to consider purchasing for resale value, according to LaPedis, include fine art, antiques, Beatles or Elvis collectables, coins, toy trains, rare books, antique firearms, antique furniture, china and some baseball cards and comic books.

You should avoid purchasing the following items: autographed sports memorabilia (since so much is fake), antique rugs, old newspapers and magazines, or fad collectibles such as Beanie Babies. His rule of thumb is that if something’s been mass-produced, even if it’s historic, it’s not going to fetch much money since there are likely many more still in existence.

When In Doubt, Search eBay

While perusing a yard sale or your local thrift store, LaPedis’ shopping tip is to keep your mobile device handy and search online for clues about an item’s worth. Consult sites like Worthpoint.com and, of course, the ever-popular eBay, where you can search its “completed auctions” section to judge whether the item in question has potential value.

Spotting Fakes

Fake antiques contain glue, staples, modern screws or nails. Examine items like paintings, pottery, china and Depression-era glass with a black light to see if they’ve been repaired or restored. Glue and residue from cleaning agents will typically glow under a black light. Depression-era glass will glow, as well, but that’s usually a sign it’s the real deal.

LaPedis has a few tricks for spotting real antique silver. “A lot of real silver, somewhere underneath, will say ‘.925.’ Another nice, really cool trick is to put a magnet to [the silver]. If a magnet attaches itself, it’s not real,” he says.

Be an Early Bird

Timing is everything when it comes to scoring the perfect treasure, says LaPedis. Shop garage sales early to get first pick, and swing by at the end of the day, about an hour before closing, when sellers are desperate to unload. Visit thrift stores regularly and kindly ask management to give you a heads up when deliveries are made.

Don’t Show All Your Cash

When trying to haggle, LaPedis says it helps to pretend you only have a limited amount of cash. For instance, if a yard sale item is marked $15, but you only want to pay $10, show the seller you only have a $10 bill.

Dress the Part

Presentation goes a long way when trying to score a deal. It’s less likely you can get a discount after driving up in a fancy car and carrying a designer handbag. “Dress the part,” LaPedis urges. “Wear jeans, tennis shoes and maybe a teeshirt. You don’t have to look like a bum, but you shouldn’t look like a millionaire, either. If you have a nice car, park it down the block.”

As always, we want to hear from you. What’s your most valuable garage sale find? Connect with me on Twitter @Farnoosh and use the hashtag #finfit. For YF, I’m Farnoosh Torabi.

via Secrets from the Garage Sale Millionaire – Yahoo! Finance.

The 1895 painting of a man holding his head and screaming under a streaked, blood-red sky has become a modern symbol for human anxiety, popularized in movies and plastered on everything from mugs to Halloween masks to T-shirts.

It is one of four versions created by the Norwegian expressionist painter. Three are in Norwegian museums; the one at Sotheby’s is the only one left in private hands. It is being sold by Norwegian businessman Petter Olsen, whose father was a friend and patron of the artist.

A price tag of $80 million would be among the highest-ever for an artwork. The record is $106.5 million for Picasso’s “Nude, Green Leaves, and Bust,” sold in 2010 by Christie’s in New York.

The image has become part of pop culture, “used by everyone from Warhol to Hollywood to cartoons to teacups and t-shirts to whatever else,” said Michael Frahm of the London-based art advisory service firm Frahm Ltd.

“Together with the Mona Lisa, it’s the

via Munch’s ‘The Scream’ may fetch $80M at NYC auction – Yahoo! News.

Earliest Warhol Sketch Found at Yard Sale for $5 Design News 04.02.12 A British man purchased this drawing, done and signed by an 11 year-old Andy Warhol, at a Las Vegas yard sale for a mere $5. According to the buyer, the sellers aunt cared for the pop artist as a child. The sketch has been appraised at over $2 million.In other news, Gehrys Eisenhower memorial gets the green light and the WSJ wonders if the iPhone is the only camera you need

via Earliest Warhol Sketch Found at Yard Sale for $5 Design News 04.02.12 | Apartment Therapy.

Garry Cucci bought the coin for $1 at a flea market in 1969. Cucci said that he’d long carried the coin in his wallet as a token.

Cucci, who collects coins, recently brought the coin to Martin’s Coins & Jewelry where he learned that the coin is worth much more than his original $1 price.

“I said, ‘Garry, are you sitting down? … Your coin’s worth a little over $100,000,” Martin’s owner John Martin said.

Cucci said that he was shocked, as he’d always figured the coin, that says Continental Congress 1776 on it, was a fake. Turns out it’s genuine and likely one of the first coins minted in the United States.

“You never know. You just never know,” Cucci said.

Martin will sell the coin to a collector or dealer for the best bid. Cucci said he’s OK parting with his lucky charm, given its extreme value.

via Rare Coin Nets Vt. Man $100K – News Story – WPTZ Plattsburgh.

A huge cache of canvas painted by Pablo Picasso nearly 100 years ago were unveiled for the first time by a French man who claimed the art works were gifted to him by the legend. The collection of 271 paintings, drawings, sketches and lithographs, many of which were previously unknown, dates from 1900 to 1932. The extraordinary works of Picasso, worth more than 50 million pounds, were found at the home of a retired French electrician, The Guardian reported.

The revelation came on Sept 9, when Pierre Le Guennec, in his 70s, approached the office of the Picasso Administration, which manages the artist’s legacy, seeking certificate of authenticity of the artefacts.

In the office of Claude Picasso, 63, the late painter’s son, who represents the artist’s heirs and estate, he produced 175 different works that, he claimed, were by Picasso.

The art works include nine cubist collages worth at least 40 million euros, a painting from his celebrated blue period, drawings and models for some of his most important works and portraits of his first wife, the Russian ballerina Olga

via Unseen Picasso paintings found in garage – Hindustan Times.

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