Antiques on the up

The Guardian newspaper had an interesting article on antiques becoming fashionable and desirable last Thursday. Also covering price rises in silver, click here to read it. I was particularly happy to read this part: “Auction houses suffered a tough recession, with the RICS (Royal Institute of Chartered Surveyors) survey revealing price drops across virtually every category in 2008 and values down more than 30%…..But the RICS survey also suggests it is the lowest end of the arts and antiques market where activity is strongest. In the £1-£1,000 and £1,000-£5,000 categories the reports of rising prices were much higher than in the £50,000+ category. Some auctioneers suggest the rise of … younger buyers fed up with flat-pack furniture lies behind this. Rupert Toovey of Toovey’s antique and fine art auctioneers and valuers in West Sussex said: “The renewed interest in traditional fields of collecting and taste continues to gain momentum. And with continued interest from younger people, mostly 35 or younger, it seems that the post-Ikea generation has arrived and are here to stay.” With solid mahogany chests of drawers like this currently fetching anything from £150-600, you can see why antique, secondhand and retro furniture is MUCH better value in so many aspects. Long may it continue I say!

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