Antique Furniture Prices Continue to Fall

I know I have been posting a lot about fine art recently, but that is due to the large amount of important auctions and art fairs that happen every November/December. Here is a good article on the decline in English Furniture values. The Telegraph UK is reporting that English antique furniture prices are at there lowest point in value in the past 10 years. The article states many collectors are selling their collections in order to pay off debt, and the results are an over supply of antique furniture. Auction houses have a large variety and selection of items to sell, some may appear to be doing well, yet if prices are so depressed, the auction house will have to make the difference up in volume.

According to the Telegraph article The fall in values continues a trend going back to the start of the decade. Kevin Warne, saleroom manager at Stride & Son, in Chichester, said that prices began to fall following the September 11 terrorist attacks in 2001, which discouraged American buyers from visiting Britain.

"The 1990s were boom years for antique furniture," he said. "But now, a piece of furniture costing £1,000 ten years ago could sell for as little at £200 today. For basic furniture, we're struggling to give it away."

The article also lists prices from 10 years ago and similar selling prices of today.

Item Price in Dec 1998 Price today

Georgian mahogany bureau £1,000 £250

Victorian Pembroke table £200 £50

Oak French armoire from 1850 £1,200 £200

Victorian dining room table with braided legs £800 £175

19th century unsigned English painting £250 £80

Victorian Chesterfield sofa £400 £75

Set of six Victorian dining room chairs £900 £300

Trio of 1830 cup, saucer and plate £40 £5

Decorative Victorian ironstone dinner service £2,400 £1,000

Chinese silver rose bowl £500 £4,000

I cant say how much research has gone into the valuation comparisons listed above as there is no documentation referenced in the article. I would therefore assume it is all anecdotal and dealer/autioneer perception, but we do know that values and demand for antique furniture has declined greatly over the recent past. Again, here is a good article for quotes and use in a market analysis of for the valuation of antique furniture. Although the article is rather short with limited documentation which is what makes me think to be cautious about the contents, it does give a good idea of the current market situation. To read the full article, click HERE.