Yesterday, the New York Times noted a trend among antiques dealers where the best stuff was selling very well:
a trend that antiques dealers around the country have noted: despite the recession, demand remains strongest for the best and most costly items. That may seem counterintuitive, but the dealers say that people who have a lot of money still must do something with it — and some of those people are a little down on the stock market these days. [ . . . ] “Our clients feel more comfortable investing in art glass and furniture right now than in the stock market,” said Waltford Gonzalez, store manager for Valerio Antiques, a 29-year-old business in Coral Gables, Fla. Many of his buyers are over 35 and from countries like Brazil, Venezuela and Argentina, whose currencies and economies have been volatile in recent years. By contrast, he said, “buying antiques is a safe bet for them.” [ . . . ] The economic crisis, dealers say, has made this a terrific time to find newly affordable merchandise. “We’re buying like fiends,” said Camilla Dietz Bergeron, a Madison Avenue purveyor of estate jewelry who has been in business for 20 years and whose items range from $475 to $200,000. “Our doors are open and our checkbooks are out. We’re buying some pretty fabulous stuff.”
Antiques Dealers Still Scoring Big Sales (New York Times)
