The beginning of 2009 into the Fall saw significant changes in the antiques world, much due to the downturn in the economy. Most of us were affected, some, unfortunately more than others.
One long time customer, who, by any standard is financially successful, decided to put a hold on collecting and move to the sideline. His explanation, “I, too, have been financially impacted, but it’s not just the money, I feel psychologically wounded and depressed.” Caution, depression and fear best describe the economic atmosphere these days.
Many shows of long standing with large dealer participation and audiences were cancelled for the time being and others, for lack of dealer commitment folded completely. A case in point, our Thanksgiving weekend show, one of our favorite shows, was cancelled. Attendance and buying at most shows that we are familiar with have declined by as much as 40%.
The conversation among dealers at shows is not how much profit they expect, but how much they are prepared to lose. Attendance at auctions remains fairly strong, but hammer prices seem to have fallen below estimates and significantly below the prices of only 5 to 10 years ago.
The good news is that those collectors and decorators, in a position to buy, can acquire some fine antiques in all fields. There is a wonderful opportunity to purchase objects of beauty at discounted prices that rival retail chains selling disposable “stuff” with little or no future value.
The bad news is that there has been a “behind-the-scenes” occurrence negatively impacting dealers, namely a rise in show booth rents and a rise in auction fees. Reality says we should all work together, take less profit, find less expensive venues, encourage new collectors, share our knowledge and make every effort to make our offerings more affordable.
We encourage all dealers to offer their merchandise to interested clients on a lay-away basis if needed, promoters to keep their exhibitors by lowering booth rents and luring attendees with exhibits, good food, music -- all things to create a “happening” at a show, encouraging patrons to have fun and to stay longer.
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