The Wall Street Journal recently published an article chronicling the rather drastic decline in some areas within the antique trade. This is a good article to refer to when documenting and substantiating a market analysis for antique furniture. The article states, "some antique furniture is going for a quarter of what it fetched a year ago as people gravitate toward contemporary styles. On top of that, struggling consumers have been liquidating their collections of vintage pieces, flooding the market. Even high-end auctioneers such as Sotheby's have seen some disappointing sales of all but the rarest pieces."Not encouraging news if you are in the antique trade, or are in a related or connecting field such as appraising. The article lists both statistical and anecdotal examples from auction houses, online resellers and dealers. It also references Ebay statistics noting that "from April through June, 2,376 mid-century modern items and 2,132 Eames-inspired items sold on the auction site, compared with 141 Queen Anne pieces, 71 Federal pieces and 1,782 Victorian items." A rather drastic difference in sales volume between the 20th century items and the pre 20th century.
The article also states that some of the higher end upper market antiques, which were holding value are also starting to soften. Again, the WSJ article is a good reference point for a market analysis and justification of declining values for upset clients. Overall not a very good trend for the antique industry. To read the rest of the WSJ article click HERE.
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