The Telegraph recently ran an interesting article on a growing interest in antique and vintage furniture from millennials due to the sustainability rather than the past interest in fast furniture. With low price points fro many antiques, at times lower than Ikea, according to many in the auction trade, millennial interest is growing, and it is expected to continue.
Perhaps that interest in sustainable furniture will grow into real collector interest as well. With that it might move the needle from just buying antique and vintage furniture to collecting.
The Telegraph reports
Source: The TelegraphA boom in antique sales has been driven by eco-conscious millennials who are rejecting “fast furniture”, auction houses have said.
While the enduring image of a young person in their first home is the assembly of cheap flat-pack tables and wardrobes, many members of the younger generation are rejecting this stereotype and filling their houses with antique finds from auctions.
And with auction houses setting up special sales for first-time bidders, featuring lower-cost items, some pieces are even cheaper than what can be found in IKEA.
Benedict Winter, a specialist in furniture and works of art at Christie’s auction house told The Telegraph: “We've definitely seen a growing trend in young people who are interested in our sales at Christie's.
"It definitely helps that people care about green furniture, and this combined with the history and the craftsmanship really appeals to 21st century people.
"The trend is towards sustainability and less of a throwaway culture and that's definitely been reflected in our auction sales.
"We have so many sales a year with low starting points for beginner collectors. The lowest lots start at £300 which is entry level stuff."
Christie's said they have had many new young customers thanks to Instagram and other social media sites
Christie's said they have had many new young customers thanks to Instagram and other social media sites CREDIT: PAUL GROVER
International search engine Barnebys, which monitors 2,000 auction houses on its website which hosts more than one million items daily, has found a similar trend to be true.
Their furniture sales have risen by 32 per cent in the last 12 months, and the company believes this is due to young people searching for sustainable furniture for their homes.
A spokesperson said that their search tracking is picking up info that this interest is coming from people aged 18-45, which is a steady and growing increase that has happened over the last few years.
Pontus Silfverstolpe, co-founder of Barnebys, said: “Today we can say that everyone who works in the auction world is working in the world’s most sustainable industry. Changes in consumer behaviour, led by millennials is driving this new interest in using renewable pre-owned items.
“They know that antiques are better for the carbon footprint. We clearly see an increased interest from the younger generation of buyers who want unique, personal and quality items that last over time.
“It is just not sustainable for our world to continue to consume as we do today, and have done over the last few decades. So, today, many of the younger generation actively choose to furnish their homes with pre-owned furniture, which surprisingly is often cheaper than even Ikea furniture.”
Also driving this trend is the Instagram aesthetic; people hungry for inspiration often land on the idea of buying photogenic vintage pieces.
Mr Winter added: “At Christie's online is a great aspect, people can read the stories about the pieces on our website, and on social media there is a huge trend of decorative arts and furniture, that's by people of the younger generation and sales completely are driven by that.
"I've actually emailed people from Instagram who have turned out to be bidders and buyers in our sales.”
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