ABC
-----Antiques – Books – Collectibles ----“Old is Better and Maybe Cheaper”
By Ray DeThy
This is the third and last column relating to Antique American Furniture. The previous two included
pictures and brief details about each of the major styles and the approximate dates of their periods of
construction. Today’s finale includes the value and tip section that normally culminates each
separate column and will cover the same format, but summarize for the previous two months’
material.
VALUES & TIPS
Value:
Antique and collectible furniture values are influenced by four variables:
1.
Style popularity
2.
Construction


Methods
Materials
3.
Size and shape
4.
Condition
1. Style Popularity: is a criterion that ebbs and flows in much the same way as any other element
that surrounds our lives. As clothing styles change to fit temporal popularity, i.e. length of skirts;
casual vs. formal; cuffs or no cuffs on trousers, etc., so also do current tastes affect the interest in
antique furniture styles.
If you look at the photograph samples of American Furniture beginning with the late 1600’s pieces, it
becomes apparent that, even though there were many makers, only one or two achieved enough
popularity to be sought after for a long period of time. William and Mary style furniture was not the
only furniture made during its period, but it was the predominate one that was desired. More were
made and purchased, and it takes its place among major and memorable American furniture. It may
be heretical to indicate that there may have been better or more interesting furniture made during all
periods that now are identified by a particular style name, but in effect, it doesn’t matter. The market
forces at the time caused buyers to accept and desire what became the dominant style and to reject
other contemporary makers’ work. This phenomenon has always been the determinant of popularity
and still is—not only in furniture, but in every form of purchasable commodity.
There have been times in all commodity markets where no style dominated and a time period passed
without a designated name to identify it. Such an example is the period that encompassed the late
1920’s to pre-World War II. It has been named “Colonial Revival Period,” but this is only a name of
convenience. There was no colonial period—rather there were many styles during colonial times,
therefore, it’s a name of no meaning. The furniture during this period was machine-made and its
style suggests that it was designed by a committee rather than emulating the style of a single period,
i.e., a little bit of this kind of leg and some of another kind of hardware, and any kind of wood or
veneers that satisfied the furniture company’s fancy.
Some styles have truly experienced “revivals.” Art Deco furniture styles were actually more
dominant during the 1950’s than they were in 1920’s/30’s. So too, are the Mission and Arts and
Crafts styles in today’s world.
2. Construction Methods and Materials: There will be a bit of redundancy in discussing this criterion
with that of style implications. Obviously, prior to the Industrial Revolution, all furniture was handmade. After 1870-1900, much of the pieces were machine made, but a significant portion of furniture
continued to be hand-made—enough so that the Arts and Crafts and Mission styles were mostly
hand fashioned. It was in fact, one of the reasons for their popularity. Even many modern pieces are
designed and made by artisans, but there is not sufficient interest to produce a style designation.
Selection of the woods used in construction is also a factor in popularity. Though initially, the type of
wood available to the maker was a significant reason for its use, some woods are important reasons
for some buyers to choose one piece over another for their homes.
3. Size and Shape: may be the least known reason why certain styles were popular at the time they
were made and of no interest during subsequent times. The perfect example is the very large, heavy
and bulky Empire Period furniture. Its appearance was perfect for the urban late colonial period
when large homes with high ceilings were the vogue. It is also the forgotten period. Empire
furniture was never made after its period of dominance in the 1820’s to 50’s. It has never had a
revival. The trends in housing sizes suggest that it never will. Though a piece may be in excellent
condition, it can frequently be bought for $100 more or less.
The same phenomenon occurred in the 1950’s and 60’s when very large and ornate Victorian oak
pieces could be purchased at auctions for $1, and the requirement that the buyer had to haul it away
immediately. I know people who actually bought pieces to use for firewood.
4.
Condition: is the always prevalent “elephant in the room” for any form of ABC. No
exception here. A great item that the buyer really covets in excellent condition will bring high
dollar amount. A poor condition piece, no matter what its age and style, may not be saleable.
Tip:
The tip for this issue is that if you want a great piece of antique furniture or antique decorative art
material such as lamps, paintings or other home furnishings, you might want to consider shopping
for them before you go to a high-end furniture and accessories venue—or, at least, make an attempt
to look at both before you decide to buy.
Several examples:
I visited one such high-end store last year to deliver some framed prints that the manager
bought to decorate his room ensembles to give them an “antique” look. While there, a woman came
in to look at lamps and was talking to a salesman. This is the dialogue I overheard:
Lady: “I don’t really like the shade. Do you have it in a pale green?”
Salesman: “Yes, I can get that for you.”
Lade: “Okay! Do you have any other color shades, perhaps gold or a brown?”
Salesman: “Yes.”
Lady: “How much would it be if I bought three with the shade colors I want?”
Salesman: “Let’s see! $1,750 each-that will be $5,250 for the three less 10% less a 10% discount equals
$4,725 plus tax. Total of $5,055.75.”
Lady: “Okay, here’s a check. Please deliver them to …”
This actually happened, and my tip is that these lamps would be worth about $200 to $250 each on a
secondary market as soon as left the building. AND, I had in my store an authentic Handel signed
table lamp with original stained glass shade (in only one color) for $1,800. It will hold its value or
increase over the years. Hmmmm!
However, I want to be perfectly fair regarding this episode and similar ones in other situations. If
buyers have sufficient discretionary resources to buy specific items that meet immediate needs and
they believe that they will continue to be enjoyed over time, then such purchases may be totally
appropriate. Money is not a major consideration .A need is met. And living happily ever after is
likely!
But, my experience indicates that this is not the usual scenario. It usually follows along a different
path. Decorative tastes change or the time for “down-sizing” approaches. Suddenly, the owners
believe that their expensive acquisitions from an earlier time are seen as having significant value.
Generally, shock is the emotion of the moment when they are told that what they have is used
furniture or accessories and the resale value is very low or, in many cases, unsalable.
Believe it or not, one of the ways to avoid this experience is to compare legitimate antique furnishings
and accessories to new “high-end” equivalent items.
Several months ago we explained this precise circumstance to friends of ours who were
contemplating changing their home décor. They scoffed at the idea that they could buy genuine fine
condition antique material for about the same price as new custom pieces. After diligent research
(and some slight help from my wife and me), they were pleasantly surprised. Result was that most of
their redecorating was accomplished by purchasing antique material (not all, but most).
The tip of the day though is that not all antiques are created equal nor do they all have equivalent
values for similar types of items. This is because most all hand-made antique items that have
survived are: much better constructed; made of genuine woods; age patina finished; and, likely to
hold their value or increase in the future.
The items that are price competitive with new pieces are: NOT signed; NOT museum quality; NOT
previously owned by a celebrity; and, NOT purchased at an auction that has two or more people
(with loads of money, but no knowledge) bidding on items. For any of these reasons, the hammer
prices may reach into the high five figures or more. An antique piece made by an unknown skilled
artisan may easily be purchased for the same or lower price than a poorly made modern piece that
may be made of a percentage of real wood and may have a back portion that is covered by “cigar box
board”
A recent Wall Street Journal investigative reporter’s article indicated that new custom furniture
pieces that are priced in the $5-$8000 range are ripe for being
underpriced by unknown makers’ quality antiques.
A final note: Even though antique material will definitely hold its value over time, it may have to be
kept for a good number of years for it to achieve a full return on purchase price because if one sells it
to a dealer, the offer price will be low enough so that a fair profit can be made.
Good Hunting! and next month’s column will return to its normal format.