1. Millennials and antiques just don’t go together.
Parents and grandparents are planning for their mid-20-year-old sons and daughters to take family antiques, collectibles and heirlooms when they move so the items will remain in the family. However, they’re finding the answer is more frequently “no.”
Such a response is echoing throughout the nation as millennials drive away from their parents’ home with nothing from the family. Many baby boomers have discovered that these treasures aren’t valued like they once were.
Appraisers (and parents) are finding that millennials do not want to be burdened with a trove of stuff as they move from job to job and city to city. Along with some rejection and hurt feelings, these parents are also being forced to sell around the same time, which is putting downward pressure on prices.
The market nationwide has been flooded with “brown” furniture, porcelain figurines, china, crystal, silver plates and antiques that are dropping in value. Many auction houses are declining such items since the values are so minimal. Unfortunately, boomers still think there is substantial value there and are faced with a difficult lesson.
2. Not all Oriental rugs appreciate in value.
Post-WWII rugs purchased today do not appreciate in value. They’re more like new cars. They decline in value due to the changes in décor, colors, design and texture of the rug; an example being the pastel Kerman rugs of the 50s and 60s.
“All old Oriental rugs are worth a great deal of money” is a myth.
However, if the condition is excellent and the artistic features are notable – such as the right color and fitting the decorative and functional plan of today’s buyer – it might be worth buying. If in poor condition, the repair costs may outweigh the value.
Persian or Iranian rugs that are Pre-WWII, such as Ferahan Sarouk, Kashan and others might have a small market, but a weaker value since such styles rarely fit in with the majority of today’s decor and demands. Post-1979 Persians have dropped considerably in value due to the embargo (1987-1999 and 2010) that resulted in deteriorated quality.
In fact, the market for such rugs is stagnating with low demand because of a flood of rugs from the downsizing of baby boomers. Mid-century, mass-produced, machine-made rugs that accentuate décor have replaced the elegance and fine rugs of the past.
3. Rock and roll autographs are faded memories.
Autographs make up a significant part of the industry; however, the most sought-after (and valuable) items are a highly specialized subset.
Elvis Presley, Mick Jagger, The Beatles and Elton John are the most popular. For example, Presley’s signature on an album sold for around $400, a Jagger autographed air sickness bag sold for $450, a signed photograph by all four Beatles sold for over $10,000 and an autographed music, score and sections for Candle in the Wind sold for $35,000.
However, the lesser-known signatures that are not authenticated have nominal value: usually under $10, especially if the artist’s autograph is well-known. The same applies to most stars: the less they are known and/or remembered, the less the value of the autograph.
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