investing IN ANTIQUES D
AND ART IN THE 21ST CENTURY
o traditional art and
antiques have a place in the 21st century? Do they fit in
By STEPHEN COHU, Director, Stephen Cohu Antiques
with modern tastes and house sizes? Why are there so many programmes about antiques on the television and yet the demand for antiques shrinks year after year? There is no doubt that the market has changed and peoples’ tastes have moved towards lighter woods and less fussy décor.
But does this trend apply to only the lower levels of the antiques and art market or has it spread right through to the upper levels?
What are traditional art and antiques?
Perhaps we should start by discussing the word antique. The word conjures up in many people a vision of an old, dirty object or furnishing that has no place in a modern home. In other people it will conjure an image of something that will be expensive and exclusive to large houses or stately homes. Many people are unsure of where antiques will fit into their lives and are afraid of trying something new with something old, because their parents are the first generation where antiques have not been avidly collected. The word antique provokes an image of old fashioned, something their grandparents would have owned.
Today people seem to have lost their desire for individuality and they have lost this connection with the past. This is partly due to the lack of time people have spare so they go for the
Page 86 20/20 Finance & Investment
production line, quick fix of the modern interiors retailer, the one stop shop all delivered virtually the next day. However time spent carefully selecting vintage items will be much more rewarding in terms of pleasure, intellectual interest and may eventually be rewarding financially as the cycle goes on and antiques and traditional art come back into fashion.
Antiques and art-where has it been hit hardest? This lack of interest has hit particularly hard across the mid-range priced furnishings and collectables. This has been felt most in the “high Victorian” category where both furniture, art and decorations were very fussy or busy, totally over the top in both design and scale. This has also affected the Regency period and to some degree the Edwardian period. That is not to say that fine objects were not created during these periods but the general values have collapsed, the majority of the output being
completely out of fashion and ignored by today’s buyers. Changes in lifestyle have also hit prices, the value of dining room furniture being a particularly good example as people no longer entertain in a formal manner. The highest percentage of planning applications at the minute is to adapt a property to create a kitchen/diner. A good large Georgian sideboard can today be bought for a few hundred pounds, twenty years ago it would have been £2500. A long set of Victorian balloon back chairs can be bought for less than £100 pounds. These items must now present incredible value for money but
are they worth investing in? No one can predict the future but anyone with a large empty shed and money to invest in bargain basement bombed out antique prices will I predict see a very good return over the next 20 years. Perhaps tastes will never change back to furnishing with antiques but everything goes in cycles, perhaps one day even flared trousers and platform shoes will be back in!
The influence of television TV shows about antiques are entirely concerned with monetary value. Even the Antiques Roadshow, the bastion of Sunday night BBC TV is now entirely focussed on value, the “wow” moment at the end of a featured article.
Of course the person would never sell the item as it is a treasured heirloom, they wouldn’t, but wait till their kids get hold of it! They do not inspire people to go out and buy antiques, most are concerned with selling what they’ve got already! Bargain Hunt is more interested in how much contestants can lose rather than how much they can make!
We can’t blame TV producers for making programmes solely for entertainment value but in a way this makes them very misleading. They reinforce the negative image people have of antiques rather than reinforcing the idea that antiques are incredible value for money, easy to live with and will last for ever.
Bringing antiques into the 21st century When you look at other forms of media, especially interiors magazines, you will see the
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116