There’s an ebb and flow to
the antique market, which in part is caused by the state of the overall
economy. There are other factors too.
Personal taste and social trends also play a part in determining what’s popular currently and, more to the point, what's not.
Let’s take a moment to look
more closely at antiques that have fallen out of favour in recent years.
While prices for all antiques
have been down considerably since the economic slump of 2008, in large part due
to Wall Street zealots who sold the world investment community a pig in a poke,
otherwise known as mortgage backed securities, some categories of antiques have
suffered more than others.
Although not antique, but
still well crafted, solid walnut and mahogany furniture made in huge volume
between the wars, 1920 to 1950, has reached almost give-away prices.
I have seen entire dining
room sets struggle to make a few hundred dollars at auction.
Of course, since this
furniture was made in such a large quantity, it is sitting in many, many homes
and apartments across the country. It
continues to flood the market but is met with a cool reception by dealers and
collectors. Brown walnut and mahogany furniture has been sent to the sidelines
by mid century modern, shabby chic and other popular trends.
It’s a shame actually,
because the brown furniture of that period was made from solid wood, following
classic lines and will be around a lot longer than some of the trendy furniture
examples that have replaced it.
True antique furniture from
the 19th century and earlier fares somewhat better although prices
and demand for this category is also weak.
Canadiana pine furniture, so
much of it stripped of its original colour in the 1960’s and 70’s, has also
suffered the same fate as the walnut / mahogany category. Good form in a piece
of Canadiana furniture will help preserve the value over time but run of the
mill pine furniture struggles at auction and in shops.
To a large extent, we are
generally living in smaller quarters. The reduced size of homes and condos are
not conducive to larger antique furniture pieces. This is another factor in the
weak demand for furniture.
Glass, china and ceramic
figurines have also suffered a similar fate. Once steady performers and always
in demand, these categories have sunk in popularity to a point where there is a
barely a pulse in their market.
Chintz china was in vogue
several years ago but that ship has certainly sailed. At one point rare stacking
teapot sets in hard to find patterns fetched $1000. Not anymore.
There are exceptions of
course, certain specific types of glass, pottery and ceramics continue to fetch
robust prices. Some Moorcroft pottery, American art pottery and French art
glass still fetch good prices but the quality, condition and particular style
have to be exceptional.
The rarity of an antique or
collectable has a huge impact on its value. It stands to reason that if an
antique item is available in large quantity, the price will reflect the
availability. It’s simply a case of supply and demand. That rule can be applied
to just about any type of antique or collectable. If a collector or dealer has
only seen a particular antique the, generally speaking, the item will be more
valuable. There are many exceptions however to this rule.
While prices may be down,
antiques and collectables are still extremely popular. Design magazines and TV
shows promote antiques with continuing zeal. The problem though is that so much
material has become “collectable”, there’s a veritable sea of stuff out there. It’s
flooded flea markets and other venues, which further adds to the problem. It’s
much more difficult to seek out good antiques when they are surrounded by junk.
It’s perhaps only natural to
equate the quality of an antique to its monetary value. For some collectors
what an antique object is worth in hard currency is secondary to their joy in
finding and collecting a particular item. If you enjoy an antique or
collectable, that’s terrific. This is how it should be. The majority of
collectors don’t plan on selling their things so market value is totally
secondary. Sentimental value can often far surpass market value. I don’t happen
to own any family antiques but if I did, wild horses couldn’t drag them from my
grasp, let alone a bundle of money.
A wise individual once said
to me once, “Only collect the best”. Those words are still true to this day. If
you are going to put the time and effort into finding certain antiques, be
patient, wait for the best example to come along. Buy that one. Excellent
things will always hold their value.
This column also appeared in the Kitchissippi Times newspaper in Ottawa, ON.
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