What happened to the antique market?

As most of us know, the antique market has traditionally been an area where you received the value of what you bought.  What I mean by this is that when purchasing antiques wisely you were making an investment and the value usually appreciated over time or at least the item retained it's value.  I have said many times over the years "as compared to purchasing new furniture, antiques were the hand down winner because they retained their value and new furniture did not".  Buying new is like buying a new car and driving it off the lot only to know that it is at that moment work less than you paid.  Not to say buying new is bad because you buy what you want and enjoy.  It's only an issue of value and whether that is important as well.

So needless to say, I viewed antiques as an investment and never imagined a time when antiques would be effected by the economy or change in time.  I was wrong!  Over the last 6 years I have seen fine antiques that sold for $10,000.00 only be worth $1500.00 today.  And while collecting of many different things was once important, the newer generation cares little for it, making those items once collected of little value except to a current collector.  This is not to say all antiques have been effected.  Nothing could be further from the truth.  Some items bring more today than ever and those rare and unique items still sell well and retain their value.

Those of us in the business have seen the change and are evolving to meet it.  Long gone are the days when everything had a buyer at a reasonable price.  Instead today, if they do not want the item it matters little what you offer it for.  And this appears true across the board.  Estimations bing made by Auction Companies around the country seem to drop with each sale.  But while many antique shops are closing, still others are breaking new ground. 

Advice for the public.  Buy smart.  Select your Seller with understanding that there is not another Seller where you could buy the items for half the price.  Purchase rare and hard to find items.

I leave you with these thoughts:  Do things come in circles?  Will antiques and collecting come back?  Will the newer generation that are now painting fine antiques be taking it off in the furture?   

by:  Frank D. Edens, Auctionneer
Edens Auctions, Inc.