HOW TO BUY ANTIQUES AND ASSESS THEIR VALUE

November 1, 2021

Buying furniture from large chains has many advantages – it's readily available, relatively inexpensive, and doesn't require specialized knowledge. A good sense of style and style are all you need, and you can also follow the advice of a decorator or interior designer. Unfortunately, you have to accept that in a dozen or so years, the furniture will be worthless. This type of furniture is likely to have only utility value, and nobody considers such purchases as an investment. You can't expect mass-produced furniture to give your home character and distinguish it from other interiors.

The situation is different when we decide to buy antique furniture. Antique furniture not only beautifully enhances the interior of a home, but can also be considered an investment. Over a longer period of time, usually at least a dozen years, selling antique furniture can yield a substantial profit. It's safe to assume that you won't find similar furniture at your neighbor's, as is often the case with furniture from, say, IKEA.

Buying antiques (over 100 years old) or vintage pieces (less than 100 years old) isn't easy, any connoisseur will tell you. If you have more money, you can ask an expert to buy the pieces you're interested in for you, but you'll likely have to pay a commission of 25 to 30 percent of the furniture's value. This fee is so high because, according to estimates, there are few experts in this field, and finding a bargain is very difficult.

If you decide to buy antiques yourself, you'll need to do at least some preliminary preparation to avoid being scammed. Below are some tips to consider when buying antiques and assessing their value.

How to buy antiques and assess the value of antiques:

Condition of the furniture

Two identical antiques can differ significantly in value. This will depend on the condition of the furniture. Never compare two identical items in a photo and assume their value is the same. Two items can only be considered equal in value if they are in the same condition and have retained their original appearance. The value of a product can be significantly reduced by missing parts, scratches and cracks, holes, stains, unpleasant odors, etc.

Age of the furniture

Older doesn't always mean more expensive. A product's value is determined solely by demand. For example, there are many products over 100 years old that are not sought after by collectors and consumers. Take looms, presses, and many other items from the early 20th century that are now useless but were once very valuable.

Labels and tags

A manufacturer's label or mark can be helpful in assessing the value of an antique. Items with maker's or designer's marks are often worth more than similar items without them. Carefully examine the item, and if necessary, use a magnifying glass or jeweler's loupe to ensure you haven't missed any markings that could increase the item's value or help determine its age or origin.

Authenticity

It's best to seek professional help from an expert, but if you want to assess authenticity yourself, it's best to buy a piece of furniture with a known history, such as one from a well-known family that has been in their possession for generations. If the item comes from a suspicious flea market or from an unknown source, when assessing authenticity, you should look for signs of wear and age, as well as examine the technical parts used in its production. Each era has its own production method.

Renovation

Professional restoration can add value to a rare antique, but amateur restoration can devalue it! It's crucial to evaluate the item and verify whether it has been repaired or professionally restored. Missing or stained parts devalue it in the eyes of antique dealers and collectors! Some minor repairs may not affect the item's value, but this often depends on rarity and demand.

Change in value over time

The prices of antiques and collectibles can fluctuate significantly and rapidly depending on current demand. Prices may remain at this level until market demand is met. As supply dwindles, product prices rise as dealers find it increasingly difficult to replenish their inventory. The price of well-preserved antiques cannot fall because there are no new products available!

Comparative value

If you're unsure how to properly value your gear, your best option is to compare a similar item and its price! Valuing rare items can be difficult, but the recent price of the same or similar item can provide a good indication of its current market value.

Searching for antiques, especially rare pieces, can develop into a true passion. Experts advise buying only beautiful items and always paying attention to their quality. How can you tell if something is quality? Don't buy based solely on photos. It's essential to see antiques in person before buying. Logical thinking is essential – are the proportions and color correct? If the cabinet is too low on the legs, a piece may have been cut off.

By following the rules presented, we will certainly reduce the chance of making a mistake when shopping.

Marek Larson, Luxury Boutique magazine