Antiques - An Industry in Trouble?

Posted by Chris under Industry News on June 25, 2009

With the current economic recession, it's no surprise that most of us are feeling the effects of depressed consumer spending. The antique market, which owes its very existence to value that defies age and somehow survives each generational recession, shows its own signs of a serious slowdown. Every month that passes by, mom-and-pop operations and even established dealers and antique shows are either closing shop or teetering on the verge. Some blame eBay, while others point to the poor taste of today's young consumers, but everyone agrees that the antique industry is in trouble. The trick lies in knowing what to do about it.

Our industry, which fixes its eye and dollars on the cultural icons of antiquity—furniture, jewelry, collectibles—now faces an opportunity to embrace things utterly contemporary in the interests of self-preservation. This includes, yes, adapting to eBay and the online marketplace, maybe even starting a website, and those who don't are either lucky to have the buffer of a steady old-fashioned customer base, or they'll find themselves going the way of the Dodo. Consider, for instance, the great 19th century cabinetmakers: where are their shops now? They all shut down in the face of mass-produced junk. It is a sad irony that we now find ourselves facing a similar fate.

Even so, it's true that antiques hold their value, no matter how much all the Asian-made caricatures and Swedish disposables saturate the market. You still can't replace quality craftsmanship and one-of-a-kind value, and that's really what antiques are all about. So when we come out of this mess, the antique market will still be around, if only more in cyberspatial terms than before, and maybe that's the key to tapping the wallets of younger consumers. Any look at a successful antique-based online community can tell you that this strategy will ultimately change the face of the industry: just have a look at Rare Victorian, and you'll see a thriving community of knowledgeable experts and enthusiastic antique lovers. Meanwhile, some have found a way to look on the bright side of antiques in a bad economy. After all, as everyone keeps saying, now's the time to buy, but with the housing market down, fewer antiques are entering the marketplace, so who knows? As for me, I think I'll fall back on the old maxim that has done so well by our industry: "Time will tell."

Tags: economy, recession

Carlton Hobbs said on November 4, 2009 at 10:35 PM:

Agree with the above! We have embraced social media and are generating sales that way. We are also more active at staging exhibitions and trying out new fairs, such as Masterpiece, the new show in London

Chris Seidl said on November 5, 2009 at 2:28: PM:

Carlton, thanks for your thoughts. It's good to see other folks in the business who know what they're about. Good luck to you.

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