This tambourine is in pretty rough shape, so I am surprised someone was willing to pay $225 for it. Sustainable guide value for one in near-mint condition is $250, and this one is in fair to good condition only. Especially when buying tin items, condition matters. These were made in great quantities during the 1920s, and even though that was a long time ago, many are still around that would display better than this one. If you are going to pay top dollar, insist on top quality.
Mark B. Ledenbach's vintage Halloween collectibles blog.