It’s no secret that times, they are a-changing. E-commerce has taken over, leaving shopping malls to slowly wither away. Groceries can now be ordered from your phone and later picked up from the store without ever having to set foot inside the building. (You can even get groceries delivered to your home!) People see jobs as stepping stones to the next big thing, not lifetime commitments as our parents and grandparents did.
Even in our beloved collectibles and antiques market, the tides are turning. It seems as though the value of pre-20th-century antiques has declined dramatically, in addition to more modern pieces. Some people say it is the end of collectibles, while some believe it is just a trend. We here at Form Function Art believe the latter.
So, What’s Really Going On?
Many antiques dealers are abandoning the “solely antiques” storefront for a mix and match venue, filled with both valuable collectibles and modern art. One such example is Todd Merrill of Todd Merrill Studio (formerly Todd Merrill Antiques). He states that custom-made pieces by living designer-artisans are now 70 to 80 percent of their business. “It’s a big behavioral change for the trade, for collectors, and for dealers. We’re not buying things on the secondary market for resale. We’re presenting artists and representing them like an agent.”
There are several reasons for this behavioral change.
- The Great Recession of 2008. This huge economic downturn left many without expendable income. Where people used to pop into antique stores and buy whatever caught their eye, now people simply can’t afford to spend money on things that aren’t absolutely necessary.
- The Minimalist Movement. Many Gen Xers and Millennials simply have no interest in “dust catchers” and are choosing to live with less “stuff” to create a sense of freedom in their lives.
- Smaller Living Spaces. Due to economic circumstances, many people (especially young people) are forced to live in small apartments/homes, or even with their parents. There is also the Tiny House Movement that correlates with minimalism, where people are choosing to live in 100-400 sq. ft. homes to save money.
The Case for Collectibles
While these may seem like unsurmountable odds, we remain optimistic. History shows us that it can, in fact, repeat itself. The market ebbs and flows, fluctuating between bear and bull, hitting everything in between. Trends go out of style, then make a comeback 20 years later. One political party has the majority, and then the pendulum swings the other way.
We believe this is the case for collectibles. Many people are still looking for eclectic pieces to combine with their modern décor, creating a unique feel in their homes. According to Jamie Drake, a New York interior designer, a home without antiques “would be like a sentence without punctuation.”
The mass-produced décor of today simply doesn’t come with the same quality as something hand-crafted by a master. Take our Loewy originals, for example. Raymond Loewy was a visionary, an incredibly talented designer and artist. His designs are known the world over, from the S-1 Locomotive to the Skylab to Air Force One. Yet he only produced and signed a certain number of lithographs of these iconic designs. Owning one of these is like owning a piece of history.
While we cannot predict when this trend will end, we believe wholeheartedly that the market for collectibles will indeed rise again.
Invest in Your Collection Now
What better time to invest in original pieces? If you are looking for the perfect piece to begin, or add to, your own art collection, visit our GALLERY. We have beautiful, original mid-century modern pieces by Raymond Loewy, Vincent Raney, and others.
