Palm Beach Consignment Shops are Active

Jose Lamiet of the Palm Beach Post reports consignment shops in the Palm Beach area have seen a rise in consignments. The headline, sums it up nicely Palm Beach consignment shops see influx of goods as rich tighten belts. Much of the blame is being placed on the Madoff Ponzi investment scheme. The article relates more to designer clothing and accessories consignments rather than the fine or decorative arts, but you can certainly connect the dots as to why the fine art and decorative art markets are also struggling due to economic issues, higher consignment levels and thus, an oversupply.

The article points out how some consignment shops have seen consignments nearly double over the past few weeks. Lamiet states "On Antique Row in West Palm Beach, meanwhile, the Chris Ellis Collection consignment shop is getting so much fine furniture and art that it's expanding."

Perhaps there are some good deals for collectors, but from an appraisers market value perspective, values will probably continue to decline due to the over supply.

The article states that many collectors are selling and consigning items, even at great discounts from the original purchase price, yet the article makes no mention of how sales of the consigned items are. That, very important part of the equation is missing.

Click HERE to read the full article.