NAC

Almost everyone, without exception, automatically thinks that any antique rises in value. The words appreciate and antique go together like horse and buggy. Unfortunately it's not true. Antiques do NOT always go up in value. In fact, they are subject to the whims of the economy and consumer likes and dislikes just like everything else. It just seems like they always go up in value.

The word appreciable means large enough to be measured. From an appraisal standpoint it also means increasing in value over time. The word depreciable, on the other hand, means decreasing in value over time. The meanings of both concepts must include the perceptions of parties in the market. The reason things appreciate is because the people involved in the buying and selling of them deem those items worthy of increasing. They don't just increase because they exist or are old.

Let me give you an example. Plain, country stoneware crocks and jugs have always been sought by those wanting to buy antiques. Since they are no longer in production (except for reproductions) the supply was thought to be rather limited. People saw the prices escalating over time and believed that they would continue. Rise they did and over a rather long period of time. But eventually everyone had a crock or jug that wanted one. These people soon discovered they held no modern purpose (no one needs to preserve butter, milk, or cheese) and a few quickly fill up a contemporary kitchen counter. The result was that people began selling their "collectible" crocks and jugs. Eventually there weren't that many people out there that wanted them anymore.

Country as a decorating theme had seen its heyday. Whether this was too many Country Living type magazines, prolific antique malls, or changing contemporary tastes, no one knows. The fact is that country is no longer king. All those crocks and jugs that sold for $50-100 are now sitting in shops with prices half of what they originally brought. Yet the items are old. They are not in production. They are even quaint. But they have faded in the market.

This happens with all kinds of other things as well. Old bisque head Victorian dolls, on the whole, are not as exciting as they once were. Neither is pressed and pattern glass or Limoges dinnerware. Their cycles have peaked and they have retreated.

Surprise...antiques can depreciate just like the new car you drive home from the dealer. Take new furniture. Order it from the manufacturer with custom fabric or wood. Pay a bundle. Take it home. You've lost half the value. The same can happen when you purchase something at an antique shop!

"Investment" antiques are not exempt. They are simply items (usually of extreme high perceived value) that are purchased because one thinks they will rise in value. No thought is given to using the item. No interest in beauty or form. No appreciation of craftsmanship or make . These items are hawked to the public as always escalating. Beware! No such thing.

There are certain items that tend to go up over time, but there is no guarantee they will continue. (Just think Real Estate.) That's why the most trusted axiom you hear in every article about buying antiques is the most important. Buy what you like and you won't be disappointed.

Antiques are to be enjoyed like any other object. They are to be used, not just put in a corner, closet, or safe. They have warmth, charm, and history. Once people lived with them as functional pieces. You must do the same. If you do, you will find the investment was indeed fulfilled, if not your pocketbook or portfolio, at least in your soul.