Is it time to sell your antiques?
Recession brings opportunities in many varying forms. With interest rates low and the stock markets volatile behaviour putting many investors off, there may be an opportunity to cash in on peoples desire for tangible possessions that grow in value.
The collectables market has always been a niche investor opportunity. There are few wealth managers that would advise that antiques should form a significant portion of a portfolio since fashions change and markets move in a fickle way. However, recent auction results have shown that the market for certain types of collectables has led to an upsurge in realised prices. This may tempt some into selling some of their long held antique furniture, jewellery or art in the hope of raising some much needed cash.
The market varies for different types of antique.
Fine art is probably the highest profile of all the antique markets thanks to the high profile nature of the artists and the values for the best pieces. Whilst the old masters always realise top prices, there is a steady demand for quality pieces from lesser known artists. These tend to be more realistically priced for the mainstream market and certain artists are growing in popularity. Returning confidence in the high priced markets will help to drag prices up for the lesser known artists. Auction houses report fewer lots and more realistic prices but strong demand for the top end pieces.
Quality period furniture has always maintained strong prices at auction. With more people looking to decorate homes with period pieces, there should always be an outlet for furniture that has been well maintained or sympathetically restored. This applies to furniture from recent decades as much to the older and rarer pieces from the 18th or 19th century. Condition and completeness are key attributes in order to realise he highest prices. Current sentiment encourages the sale of Georgian pieces whist perhaps waiting for value in the contemporary market to develop.
Of more familiarity for most will be the pottery, ceramics, glass and silverware antiques. These are more likely to have been passed down through the generations or to have adorned mantelpieces in many homes. With commonality comes a lower price. The very best prices will always be available for the rarest or most contemporary of items. With larger numbers of people trying to sell off their items of pottery and glassware it is inevitable that realised auction values have fallen recently. Art Nouveau items rise and fall in value dependent upon the market sentiment – but they do seem to have a cyclical trend for bouncing back. Keep a steady eye on the auctions to see if prices are rising before deciding whether to sell.
Costume jewellery has really appreciated in value in recent years. Pieces from the early to mid 20th century are especially in demand. In addition, clothing from the same period is rising in price. This relates to quality designer pieces – not retailed items. The upsurge in interest in the 1930's to 1950's fashion means that youngsters today will pay high prices for items with a designer label. Perhaps this is a period easy for most of us to relate to since we probably have a parent or grandparent alive that lived this era to the full. Check out their wardrobe and see what Mary Quant or Milgrim dress may be hiding away. Again, quality is essential to realise the highest prices. Original buttons, zips and stitching will lead to an item that is much in demand.
Stamps and coins are probably the two collectible antique markets that are associated with the masses. Many take to acquiring a stamp collection when young and then tuck the albums away as we get older. It may be worthwhile digging out those old collections and getting an expert collector to appraise their value. It may be that you have a hidden gem in your collection – but the chances of finding a really valuable item are quite remote. It's well worth checking, though.
The advent of on-line auction sites such as Ebay has revolutionised the marketing and selling of items. The market place is now global and make it easy to identify items to get an estimate of what yours may be worth. If selling on-line then you should describe the piece as accurately and completely as possible and use photos so as to avoid comebacks. If you have a genuinely unique or old piece then it could be worth getting it properly valued. The valuation you receive will give you an estimate of its worth and replacement value for insurance purposes – but don't necessarily expect to realise this in a sale room. Remember, demand, quality and uniqueness drives price.