Middle Market - Not all Grim

Bob James the president of Armacost Antiques Shows posted a comment to the AW Blog about my analysis of the middle market from talking with dealers at the Alexandria Antiques Show. I do wish to emphasize that my comments and the comments of other dealers, while made at the Alexandria show were in reference to the middle market in general and not a specific indictment of the Alexandria show which happens to be one of my favorite shows or any other specific show. The downturn is impacting the middle market across the board, and its reach is widespread, including shows, shop dealers and acutions. Since many AW Blog readers dont always read the comments sections, and Bob makes some very interesting and valid points, I thought I would post his comments directly to the blog.

Bob James and Armacost Antiques Shows promote many national antiques shows throughout the country. He is one of a few promoters who is willing to try different ideas in order to enhance attendance and the show experience for both dealers and patrons. Bob also wrote a great article in the 2008 edition of the Journal of Advanced Appraisal Studies called Antiques Shows Getting a Makeover. The reputation and quality of his shows and show dealers are high. He is constantly talking with dealers, so his thoughts and insights are very relevant to the discussion.

Bob's comments are as follows:

Middle Market Not All Grim

Todd’s assessment of current middle-market conditions, based on observations made at last week’s Historic Alexandria Antiques Show, is accurate in stating that “the middle market is struggling at the moment.”

He is correct in his reading of the immediate situation. Most people, antiques collectors included, do prefer to hold onto their cash right now. And he is correct in his reading of the longer term predicament. Not only are there numerically fewer members of Generations X and Y than there are of Baby Boomers, but Xers’ and Yers’ tastes in furnishings differ. Dealers struggle in the face of a smaller, less receptive market than they did in the past two decades.

But I would add a bright brushstroke to the dark picture Todd paints.

Good news goes unreported, in my experience. As a show promoter, I have found consistently that the dealers whose sales are strong at shows do not broadcast that fact, for fear of provoking hurt feelings among their colleagues. Instead, the open talk comes largely from those who are faring poorly or—worse yet—who goose-egg. And rarely does the likelihood of post-show sales get a mention by these dealers.