If you read Maine Antiques Digest, you might notice some bargains going through auction. One example in the most recent issue is a Philadelphia Chippendale Chair, estimated at three times its selling price. A Belter table, one that would hve brought $20,000 or more a few years back, went for $8,000.
That the mid-market isn’t good isn’t news. Now it seems even the high-end isn’t so hot. Take for example the recent news from Sotheby’s.
Have antiques just fallen out of favor? Perhaps for now. I do think low to mid-range buyers are squeezed in places like New York by housing costs. The trendy glass condo look has encouraged shopping at Ikea rather than a flea market or antique shop. At the mid to high end, especially in terms of American antiques, there’s just not a good feeling about the country and its heritage right now, and aside from the economy, that’s not helping. But as JP Morgan noted long ago about markets, whether they be finance or antiques, they will fluctuate.