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The Role of Art & Antique Dealers An Added Value


Many of these collectors were wealthy in the 1960s to 1990s, however, some were now surpassed by new global billionaires in terms of net worth. Many are also now retired or nearing retirement age, with some important exceptions. This again is part of the more general trend noted by dealers that some sectors of the art market are aging out on the buyer side. However, despite this aggregate trend, a number of dealers did remark on signs of a revival of interest in older sectors of the market such as antiques by younger buyers over the last few years. The age profile varies by country and region also, with some dealers finding that buyers in older art markets tended to be older collectors whereas the Russians, Chinese, and Middle Eastern collectors were younger and seemed driven to build heritage very quickly.


New buyers on the other hand, were described by dealers as often (but not always) in a younger age group and with serious wealth and disposable incomes. These buyers often had less knowledge and experience of the art market, and often bought along trends or were described as “magazine-led”. These collectors tended to look for individual and unique pieces, and were increasingly strict on condition, often snubbing fixed or restored pieces and only interested in clean goods.


Although motivations varied between individuals, many new buyers were driven by a combination of aesthetic and investment concerns. Considerations of investment go some way to explaining why these buyers often made more diversified purchases across a range of sectors as a hedge against the risks of market declines for a particular artist or category within their portfolios.


Changes in taste also dictated buying patterns, with newer modern homes tending to be more minimalist, and less suited to older art and antiques. There are some trends working towards antiques and older art, however, with newer collectors buying for fun and nostalgia, versus a perceived need to “buy class” in previous generations. Some dealers observed that it seemed important for new buyers to differentiate themselves culturally in an increasingly globalised world, and in doing so have begun to buy older art and antiques to show pride in their heritage. The environmental movement towards “buying green” and buying second hand has also worked in favour of antiques, as interests in sustaining and restoring from the past gain in popularity.


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Historical & Future Perspectives


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