This particular year I have noticed more and more old collections coming onto the market as their owners pass away or move to a retirement home. These were great collections that were assembled in large part when the market was strong and money was flush for many people. Today, with less discretionary money and a finite number of active collectors, prices are soft. One could easily re-create a wonderful Pennsylvania German farmhouse by simply going to a few of the auctions held this past year. An eight-day tall case clock, some painted chests and maybe an Eichholtz portrait can be yours for under $10,000. Total! If I had to pin down what I think the biggest undervalued items currently are, then the answer would be textiles. I think back to the 1980s when even mundane jacquard coverlets would be over $1,000, and the best were as much as a small car. Today, a quick look at eBay reveals a ready supply of coverlets, many by well-known makers, can be purchased for a few hundred dollars. And, if you are really smart, you will study weaving and buy a super duper early coverlet that, while not signed, is a real gem. I just recently found a super rare early Canadian coverlet that is just incredible. Research is key to collecting textiles and one of the reasons why I think it is undervalued. Spending some time to do your research will save you vast frustration and from overpaying for items. This is true particularly with samplers, where English samplers have been posing as American for years. I recall at a museum I worked at many years ago where I was instructed to tell visitors that the phrase Honor the King on a purported American sampler was because the maker was copying an English one. Nope, not true, just a nice English sampler. Condition is another key. I struggle with this a great deal because most textiles, unless you discover that rare group of pieces that have been hidden in a blanket chest for a century, have issues. This past week, I spotted a superb early Mexican serape. It was of good quality, and the moths had never gotten to it. Yay! It was destined to come home with me. Unfortunately, as I looked more closely at it, I saw crudely repaired holes on the piece. I didnt have a guess as to what happened, but it was fatal. Now I might be willing to accept such a repair on an early 19th-century coverlet, but it was not acceptable on a 20th-century weaving where such examples are more common than not. One has to assess real rarity to condition on every piece. So if I had $1,000 to spend on textiles, I would invest in jacquard coverlets, beautiful and priced now at an all-time low. They are early and demonstrated an incredible skill in production. Replaced by the ubiquitous quilt, coverlets had their day, but they are truly magnificent textiles. So, go look for some coverlets! Peter Seibert, a native Pennsylvanian, grew up in the antiques business and remains closely tied to auction houses, collectors, and dealers. Professionally, he has served as a museum director and public historian in Pennsylvania, New Mexico, Virginia, and Wyoming. He holds a Master of Arts in American Studies from Penn State and has authored two books and numerous articles on decorative arts, interior design, and history