APPRAISAL REPORT

Documented Sales & Comparable Evidence

These are important anchors because they reflect real buyer behavior, not asking prices.

Collector Value: The collector value of the RCA Victor Model 128 has steadily strengthened over the past several decades as antique radio enthusiasts, industrial design collectors, and restorers have increasingly recognized the model as one of RCA’s finest prewar tombstone receivers. While many Depression-era radios survive in modest numbers, comparatively few combine artistic cabinet styling, excellent engineering, strong display appeal, and historical significance as effectively as the RCA 128.

Today, the Model 128 occupies an important place in the upper tier of collectible mid-sized American radios. Well-preserved examples are increasingly difficult to locate, and professionally restored sets have demonstrated remarkably strong market performance in recent years — especially in the Canadian collector market, where high-quality American tombstone radios remain relatively scarce.

Original 1935 Selling Price and Modern Equivalent

When introduced for the 1934–1935 season, the RCA Victor Model 128 sold for approximately $69.95 USD — a substantial purchase during the Great Depression. At a time when many workers earned less than $25 per week, the RCA 128 represented a premium household appliance intended for buyers seeking quality and prestige.

Using modern inflation comparisons and historic purchasing power calculations,
that original selling price translates today to approximately:

$1,500–$1,900 CAD

depending upon the inflation model used and current exchange rates.

In other words, RCA positioned the Model 128 much like a modern premium audio component or high-end entertainment system. It was never intended to compete with inexpensive entry-level radios.

This original positioning still affects collector value today. Radios that were expensive when new were often better constructed, more technologically advanced, and produced in smaller quantities than lower-priced mass-market sets.

The RCA 128 benefited from all three factors.

Why the RCA 128 Commands Strong Collector Prices

Several characteristics contribute directly to the Model 128’s continued appreciation in value.

Exceptional Cabinet Styling

The cabinet is unquestionably one of the radio’s greatest strengths.

Collectors consistently seek visually distinctive tombstone radios, and the RCA 128 possesses some of the most graceful proportions RCA ever produced. The rounded shoulders, illuminated circular dial, Gothic-inspired vertical grille structure, and rich walnut veneers create a cabinet with extraordinary visual sophistication.

Many collectors consider the Model 128 superior in styling to numerous contemporary Philco and Zenith tombstones.

This matters enormously in today’s market because decorative appeal increasingly drives antique radio prices. Buyers are no longer limited strictly to electronics enthusiasts. Interior designers, Art Deco collectors, and historic home owners now compete for visually important radios.

The RCA 128 displays beautifully in modern interiors while still preserving unmistakable 1930s character.

Relative Scarcity of High-Quality Examples

Although the RCA 128 was not extraordinarily rare when manufactured, survival rates have declined dramatically over the last ninety years.

Many original radios were lost due to:

o   water damage,

o   veneer deterioration,

o   improper storage,

o   amateur refinishing,

o   electronic cannibalization,

o   or disposal during the television era.

As a result, the modern collector market strongly rewards originality and restoration quality.

Today, collectors distinguish sharply between:

o   ordinary unrestored examples,

o   partially restored radios,

o   and museum-quality restorations.

This distinction dramatically affects value.

A damaged or incomplete RCA 128 may still sell for several hundred dollars, but exceptional examples command prices many times higher.

Real Market Sales in Recent Years

Recent sales data illustrates how widely values can vary depending on condition, originality, and restoration quality.

Examples appearing in online collector marketplaces and auction platforms during the past several years include:

o   An unrestored RCA 128 offered on eBay in rough condition at approximately $200 USD (roughly $275 CAD) (eBay)

o   A working but unrestored example recently listed on eBay Canada for approximately $475 CAD (eBay)

o   A professionally restored RCA 128 advertised as “beautifully restored” with extensive chassis work and cosmetic restoration priced near $1,400 USD, equivalent to approximately $1,900 CAD at current exchange rates (eBay)

o   Collector-oriented specialty dealers such as Radio Attic have historically offered restored examples in the approximate range of $1,200–$2,000 CAD, depending upon originality and cabinet quality. (Radio Attic)

These figures reveal an important reality of today’s antique radio market:

Exceptional restoration quality now commands major premiums.

Collectors increasingly recognize the enormous amount of specialized craftsmanship required to properly restore radios of this caliber. High-end restoration involves:

o   careful veneer conservation,

o   historically accurate lacquer finishing,

o   proper toner application,

o   electronic rebuilding,

o   dial restoration,

o   speaker repair, and

o   historically correct detailing.

When restoration is executed properly, the resulting radio becomes far more than an antique appliance — it becomes a functional museum-quality artifact.

Canadian Market Trends

The Canadian collector market often values premium American tombstone radios more aggressively than some American regional markets.

Several factors contribute to this:

o   Fewer surviving examples in Canada

o   Higher transportation costs for large radios

o   Strong interest among Canadian Art Deco collectors

o   Increasing appreciation for prewar industrial design

o   Growing scarcity of professionally restored examples

As a result, premium restored RCA 128 sets in Canada can realistically command:

$1,500–$2,500 CAD

The Importance of Original Finish and Authenticity

One of the most important changes in the antique radio hobby over the past twenty years has been the increasing emphasis on authenticity.

In earlier decades, many radios were aggressively refinished using incorrect materials and techniques. Cabinets were often stripped excessively, stained improperly, or coated in heavy polyurethane finishes that destroyed original character.

Modern collectors are far more sophisticated.

Today, the highest prices are generally achieved by radios featuring:

preserved original finish,

accurate lacquer restoration,

proper grain filling,

correct period sheen,

and historically accurate grille cloth.

For the RCA 128 specifically, cabinet presentation is critically important because the radio’s value depends heavily upon visual elegance.

The cabinet is not merely a container for electronics — it is the centerpiece of the entire object.

The Added Value of Early Serial Numbers

Serial number 492 is especially noteworthy.

Such a low serial number strongly suggests extremely early production at RCA Victor’s Camden, New Jersey facility. Early-production examples possess historical interest because they may preserve original factory details or construction characteristics modified later during production.

Advanced RCA collectors frequently pay premiums for:

low serial numbers,

unusual production features,

original tags,

factory markings,

and documented provenance.

While the exact monetary premium attached to serial number 492 would depend upon originality and condition, the historical appeal absolutely enhances collector interest.

It transforms the radio from simply a desirable model into an unusually early surviving example of an important RCA design.

Future Outlook for the RCA 128

The long-term outlook for the RCA 128 remains strong.

Several important trends support continuing collector demand:

1. High-End Tombstones Continue to Appreciate  
   While ordinary radios may fluctuate in value, visually exceptional tombstones consistently retain collector interest.      

2. Art Deco and Depression-Era Design Remain Popular
   The RCA 128 benefits enormously from modern appreciation for 1930s industrial and architectural aesthetics.

3. Functional Historical Objects Are Increasingly Valued
   Unlike many antiques, restored radios remain interactive and experiential. They still perform their original function and recreate the atmosphere of another era.

4. Restoration Skills Are Becoming Rarer
   Truly skilled antique radio restoration has become a specialized craft. As expert restorers become fewer, professionally restored examples gain additional value.

Final Assessment

Although collector pricing is important, the true value of the RCA 128 ultimately transcends the market.

This radio represents:

the optimism of early electronic engineering,

the artistry of Depression-era cabinetmaking, and

the moment radio first connected ordinary families to the wider world.

A properly restored RCA 128 still delivers much of the experience it offered in 1935:

the warm glow of the dial,

the sound of vacuum tubes,

and the excitement of distant stations emerging from the speaker.

For collectors, this emotional and historical connection is often the greatest value of all.

The current restoration is well above average.  The exterior finish is superb which reflects a professional cabinet restoration similar to what it would have been in 1935.

The reception, based on the video provided, is remarkable for its age. Shortwave reception is good for the era.

The addition of modern electronics in the form of an FM module does not in any way detract from its value given that the radio is still capable of operating in it's intended AM and SW modes. In fact this feature will likely appeal to the non-purest given that the radio can be played on a daily basis.

When all is considered this professionally restored RCA 128 set, with Serial No.492, in Canada, can realistically command:

The RCA Victor Model 128 is not merely an antique radio. It is
one of the enduring masterpieces of the golden age of broadcasting.