Antique Dealers feel the Economic Slump

The other day I posted some of my thoughts on the middle market of the antiques industry. I recently found this article from the Orlando Sentinel about how many dealers are being hurt by the current economic woes. While I believe the slump is a reality the trade has to deal with it and survive through it. I believe the overall downward trend is wider and deeper and is caused by more than just the economic issues. The current state of the economy is certainly contributing greatly to the slower than expected sales, as is changes is taste, lifestyles and collectors.

The Orlando Sentinel article states Across the country, antiques dealers are hurting. "It's very, very tough," said Mark Hill, co-author of The Collectibles Price Guide. The antiques business has changed in recent years, as some dealers shut shops and moved sales to online auctions such as eBay. Antiques dealers have also been battling a shift in tastes, as younger consumers lean toward modern furniture.

"It used to be, not too long ago, everybody was into Duncan Phyfe mahogany or oak claw-footed tables, but that's not the trend anymore," said Tuttle, who specializes in American furniture of the 1920s, '30s and '40s. "A lot of these kids, the younger generation, they don't want that clutter. I go into so many of these big houses, and there's nothing in them. They've got a leather couch and a big-screen TV and nothing on the walls." And the sour economy isn't helping. In the past six months, many Florida antiques shops and dealers have seen sales slump.

Overall, not much different than what I reported after talking with dealers about the current state of the industry. The economy, changes in decorating tastes and the lack of young collectors, all contributing to the sluggishness of the antique trade. To read the Orlando Sentinel article, click HERE.