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Old or young, we’re really all the same underneath when it comes to a bargain
Last week I wrote about brown furniture and how the fact that it is so competitively priced these days creates an ideal opportunity for getting young people looking to furnish their first home into the saleroom.
Of course, that presumes that just because they are young they have no idea about the auction process – wrong!
As I have discovered in recent years, while Generation Z have moved on from the millennial obsession with Facebook and tend to favour Snapchat, a huge number of them are also very much at home trading clothing and other possessions via apps like Depop.
The online trade in collectable trainers – especially limited edition versions issued by celebrity musicians and sports stars in the US – is now worth billions of dollars a year. What we are seeing here is the evolution of auctions and dealing platforms where teenagers are becoming as adept at negotiating, assessing value and spotting flaws as well-seasoned art and antiques dealers and collectors.
This tells me that chasing a bargain is a strong part of the human psyche and the auction process is one of the best means of meeting that need. Whatever the age and the technology, then, the essentials remain the same. And that’s rather reassuring for industry professionals, like me, who have been around for a bit.
Why ‘brown’ furniture is the key to the future of auctions
For years now, we auctioneers have been banging on about the decline in demand for ‘brown’ furniture. It’s true that a number of auction houses who have developed specialist departments for smaller high-value items like jewellery, glass and ceramics have got rid of their furniture departments altogether. I understand their thinking: why devote so much time and, in particular, space to something that no longer props up the bottom line in the way it used to?
Well I think there are at least two good answers to this: the first is that not all brown furniture is the same and, even with the long-term slump, certain makers, styles and types of furniture can still make strong prices, as can been seen in our fine antique sales in Fernhurst. The second reason is that while sellers may not reap the benefits they once would have from a tallboy or a breakfront bookcase, it’s a bonanza for buyers.
For those young people who actually can afford to buy their own home these days, money remains tight, so being able to get your hands on an amazing statement piece of furniture that will last a lifetime has got to be a major attraction. These people are the next generation who will learn to love auctions, and ‘brown’ furniture, for want of a better term, is the key to getting them into the saleroom.
How to look for the real deal at auction
First impressions count; don’t judge a book by its cover; you can put lipstick on a pig but it’s still a pig; quality shouts: contradictory aphorisms come thick and fast in many walks of life, but few apply as often as to the fine art and antique world, especially when it comes to auctions.
So what is the best advice to follow when confronted by a lot that piques your interest?
If possible – and this is often not the case now, thanks to the internet and access to auctions on a global basis – go to the view and look at the item in person.
Ask yourself a few questions? Does it look like the real deal? Does the estimate reflect its value? If you look past the flaws, damage etc, does the quality really shout out from beneath?
If you are an expert in your field, it’s true that first impressions really do count. You may immediately recognise the typical motifs or style of an artist that others have missed; or you may also spot that something isn’t quite right and the mark and period Qianlong vase you hankered after is actually a later copy.
But for the less expert among you, ignore what everyone else does and look beyond the cracked glass and the ugly frame – both of which can be replaced – and ask yourself: how good a picture is this and do I really like it? That is the way to snapping up a real bargain.
Durham Cathedrals’ lesson for de-clutterers
Are you a hoarder or a de-clutterer? Have you ever heard of anyone being both? Taken to extremes, both can have problems, and neither tends to have a great deal of understanding of the other. For the de-clutterer, it’s a case of tidy desk equals tidy mind, while the hoarder understands what the de-clutterer doesn’t: that tiny unidentified widget that you are about to throw out will obviously turn out to be the vital part of something much larger, and without the widget you won’t be able to use the larger machine / piece of furniture / whatever.
I’m not advocating filling your homes with rubbish or leaving a mess everywhere, but the well-organised hoarder ultimately has an advantage over the de-clutterer when it comes to auction. This is because, as long as they know where to put their hands on it, they are the one who won’t have thrown out that rare scrapbook of 1966 World Cup Player cards (as I did once when I moved house), now worth a small fortune, or 1950s tinplate toys.
The authorities at Durham Cathedral have learnt this lesson. They have just raised more than £125,000 by auctioning off superfluous parts of the building’s fabric, including old bits of masonry.