Antiques Market Outpaces Contemporary Art in the U.K.
Published: October 14, 2009
LONDON—The antiques market has become a haven for British investors seeking stable, traditional assets, according to a survey of members of the Royal Institution of Chartered Surveyors. Two-thirds of dealers surveyed report that prices rose in the previous quarter.
More traditional categories, such as silverware and jewelry, seem to be enjoying the strongest growth, as buyers take advantage of low interest rates and prices that had fallen over the past five years. The contemporary market, on the other hand, appears to be struggling. 34 percent of contemporary market sellers reported declines in prices. As has been seen elsewhere, buyers seem to be taking a more careful look at works than in previous years. “Buyers are getting much more particular and they all want the same goods,” Roger Williams, head of the fine art department at auction house Brightwells, says. “More and more items are becoming difficult to sell, especially lower-end furniture, ceramics, metal and pictures.” |
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