Quarterly Market Report: 1st Qtr 2013
March 25, 2013 ADVISORY
The market for antiques remains unchanged: weak and getting weaker. “Huh?” you say.
Yep, interest in antiques is getting weaker for most categories but there is still some sustained strength for specific niche categories, i.e. portrait miniatures, listed artists of some renown, 20th century moderne, vintage estate jewelry with design merit, and the noble metals. If you’re a geezer-in-training (like me), stop buying more crap! …It is going to be worth less before you croak, not more. The opposite is true for you young whippersnappers. Buy! Buy! Buy! And if you have a lick of sense, buy only the best and dollar cost average your purchases the same way you do when you buy equities, bonds, and other instruments that don’t collect dust.
What we are experiencing in the antiques trade now is going to continue for another 20 years. Yep. Why? Because the Boomers are dumping all of their junk into the marketplace as they downsize from their McMansions to quarters that make sense: no stairs, no lawn mower, view of a park or lake somewhere warm with lower taxes. “Duh?” you grunt.
Yes, Watson. Open your bleeding eyeballs and pay attention to what’s happening beyond your hood ornament for once in your life! The world is a-changing. If you do not adapt — go with the flow — then you will be left behind and the assets that you have accumulated over your lifetime will slowly erode your net asset value. Your estate will be diminished by your inaction. Get your act together, NOW!