M. FORD CREECH ANTIQUES & FINE ARTS

 

 

UPDATE : THE ANTIQUES MARKET / 2009

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The Best Time To Buy Antiques

 

In February I wrote a synopsis of the economy and its effects on the antiques market: 

 

(click image to access February article)

 

Antiques & Fine Arts In The Current Market

 

In that article, I stated the following:

Retail:

…Do not expect prices on better antiques and fine arts to lower, as the best pieces are still hard to find,

and command high prices.  …  Now is actually an excellent time to buy, or to sell in selected areas.

 

UPDATE: 

 

I was instructed years ago by the Edinburgh Silver Assay Office senior warden that the British and Continentals 

simply do NOT believe in our intangible (stock) market, relying on tangibles (fine antiques and real estate).  The 

economic changes that began in the fall of 2008 have shown that statement to be quite accurate – now with a strong UK

 move even from savings accounts to the purchase of antiques – especially furniture, silver and early drinking glasses. 

As well, the Chinese, since about 2000, have developed an exceptionally keen interest in collecting native their

Chinese artifacts - paying record prices for pieces that are in excellent condition up through the early 20th century 

Republic Period - most particularly "mark and period" porcelain.  In "uncertain times", these antiques are regarded 

as the "tried and true" secure investments.

       

Currently in the US, there is a shortage of finer auction offerings.  When they do come up, an International buyer

often pays heavily for them as investment, and/or with a stronger currency.  We must realize that the antiques market 

in any country is no longer regional, but international - courtesy of the internet plus the desire to hold tangibles.

This situation is ultimately going to raise the prices in the US - despite the current sluggish retail economy.  American

antique dealers are already experiencing problems restocking at reasonable prices.  And currently in-stock antiques

 with American dealers are appreciating monthly, while most dealers have not yet raised the price tags.

     

When purchasing, it is now paramount to shop - and talk - with reputable dealers who can speak at length

technically and historically about their stock.  

Never hesitate to ask a lot of questions, and be sure that they are answered to your satisfaction.  An antique is not

 necessarily as represented, just because someone says so - or because you like it and wish it to be so. Unfortunately,

many unscrupulous or insufficiently informed vendors have seized this escalating antiques market to sell "not-so-correct"

antiques to those hopeful to "invest".  We have recently seen first hand too many of these incidences to try to relate, both

the in the US and abroad.  And often the stated guarantees for "errors", "omissions" and "satisfaction" are often not honored. 

At auction, personal viewing is always advisable, as "caveat emptor" is stated in all auction conditions of sale.

      

RECOMMENDATIONS:

 

The best time to purchase good antiques is NOW.  Delays will see higher prices – not lower.

Choose reputable dealers only – someone who can speak at length about the construction and historic connections

of the piece – whatever it might be. 

Ask for both a condition report and the dealer terms in writing.  All reputable dealers will be happy to supply both.

As escalating prices are expected to continue, advice from experts is becoming much more critical when

considering new purchases. 

If extended payments are needed, request the dealer’s payment terms, rather than delay. 

   

Remember - good antiques have at least these three advantages:

 

1.  Antiques escalate ahead of the market, without further taxation or continuing fees.

2.  Antiques furnish your home with permanent grace, elegance and a sense of history.

3.  Antiques bring pleasure and a sense of well being within the home – rather than on the expensive vacation.

 

     

For younger collectors considering a new purchase as well as those holding established collections, rest assured that

 these tangible assets should continue to appreciate within the coming years. 

          

Note: The "Antiques Trade Gazette", on August 17th, published the linked article, in which Deloitte,

the leading accounting and business consulting firm, has recently turned its attention to the antique

furniture market and concluded it is a good time to acquire:  Deloitte tell clients: buy antiques now

   

                                                               

I do hope this comes as good news.

 

Best regards,

    

Millicent Ford Creech

 

 

 

We welcome and encourage all inquiries.  We will make every attempt to answer any questions you might have.

 

 901-761-1163 (shop) /  901-827-4668 (cell)

581 S. PERKINS ROAD / LAURELWOOD COLLECTION / MEMPHIS, TN 38117

Hours : Wed.-Sat. 11-6, or by appointment 

mfcreech@bellsouth.net  / www.mfordcreech.com

 

 

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