1790 Appointment for 1st Supreme Court
GUEST:
It is a family piece that has been in our family for as long as I can remember. It came to my parents through my grandparents. The document is James Iredell's appointment to the first Supreme Court under George Washington, and we are all direct descendants from the judge. And we were fortunate enough to get it because my mother is related-- on the backside, you'll see, to John Rutledge, who was also on the first court, and he gave the oath. And since both my parents had a family connection, when it came time to decide who was going to get it, my parents were the lucky... They won.
APPRAISER:
They won.
GUEST:
I have an appraisal from 1979.
APPRAISER:
Okay.
GUEST:
And I think at that point, it was $9,500.
APPRAISER:
We see a lot of George Washington documents.
GUEST:
Right.
APPRAISER:
And they generally follow a certain look-- neatly written, his signature, the presidential seal.
GUEST:
Seal, mm-hmm.
APPRAISER:
So we know this thing is, is right. The president had to approve every appointment.
GUEST:
Correct.
APPRAISER:
So some of these are routine positions, postmasters, things like that. But in this case, George Washington was in that remarkable position of being the only president who ever had to select the entire cast of the Supreme Court.
GUEST:
Hadn't thought about it that way.
APPRAISER:
So, I mean, that is amazing when you think about it.
GUEST:
Yeah, yeah.
APPRAISER:
That makes this thing so out of league with all of the things that we typically see. But what you mentioned on the back, what you referred to, and I'll show you, it's a docket we call-- that, or it's a memorandum-- it's put on the back sometimes.
GUEST:
John Rutledge gave the oath to James Iredell. John Rutledge was also on the court with Judge Iredell. And John Rutledge is my mother's side of the family, and Justice Iredell is my father's side of the family. (chuckles) So 200 years later, who'd have known that?
APPRAISER:
It's amazing, It's amazing.
GUEST:
It ends up in the...
APPRAISER:
You're connected either way, You seem destined to have it.
GUEST:
Correct.
APPRAISER:
We're looking at a, a major appointment by... to a major position by Washington, and you're talking about two of the very first Supreme Court justice... associate justices. So, it's... it's just an amazing thing. So I, I would comfortably say an auction estimate would be something like $40,000 to $60,000, comfortably, at auction. Now, you'd want to be fully insured on that,
GUEST:
Yes.
APPRAISER:
so you're going to be talking about $80,000 to $90,000 would be like an insurance value.
GUEST:
Oh, okay.
APPRAISER:
It literally is irreplaceable.
GUEST:
That's happy news.
APPRAISER:
Good, I'm glad about that. We like happy news.
GUEST:
(chuckling): That's good. We do, very happy news.
Appraisal Details
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
Appraiser affiliations: Finally, the affiliation of the appraiser may have changed since the appraisal was recorded. To see current contact information for an appraiser in the ROADSHOW Archive, click on the link below the appraiser's picture. Our Appraiser Index also contains a complete list of active ROADSHOW appraisers and their contact details and biographies.