Antiques and the economy

James Harris

February 12, 2008 08:48 am

— Looking into the new year, we all try to put on our thinking caps and predict what it will hold. Economists, both bears and bulls, have difficulty in determining which way the economy will travel. Energy prices, real estate foreclosures and employment all will be major factors as the 2008 economy takes shape.
Why is this important for the antiques market? As I have frequently noted, antiques do not exist in a vacuum. Their values change with the ups and downs of the country’s and the world’s financial situations. Certain collectors think investing in antiques is wiser than any other type of investment.
While I have never been one to recommend that antiques be purchased in anticipation of their potential for growth in value, I can understand the thought that a wise investment in quality antiques gives a certain feeling of substance. After all, the ownership of a Kentucky cherry sugar chest, with proper provenance, is probably at least as much to be desired as a handful of stock certificates, at least, with the volatility in the stock market.
At any rate, collect whatever you feel comfortable in owning. At any one time there are a variety of new artists emerging. Find out whose work excites you, and collect that. Alternatively, find a whole new collecting area — one you think will have future growth. Japanese robots, original Fiesta ware and Victorian silver plate come to mind as areas that have had growth in previous years.
Because not everyone has the same comfort level in investing in antiques, beginners might desire to start slowly. Portrait prints, or their subset, miniature portrait prints, or a further subset, miniature portraits on ivory or porcelain, might be a starting point. Mid-level art pottery, particularly pieces that are in mint condition, is another possibility.
Whatever the choice, before investing even minimum dollars, invest time and effort in learning about your particular collecting area. Knowledge is your most important ally in making wise collecting decisions.
Attend auctions, antiques shops, antiques shows; read specialized books and magazines; visit with and discuss your interest with knowledgeable collectors and dealers. Take every opportunity to add to your expertise. Then you will be able to make intelligent and informed decisions in acquiring additions for your antiques portfolio.
Copies of the first 50 columns in this series are available in book form by sending a check for $7.50 plus $2.50 for shipping to: P.O. Box 672, Richmond, KY 40475.
For questions of a general nature about personal property appraising, contact the author by e-mail at jimant@ipro.net.