Hunting for fine furniture and adding to your antique collection can be a daunting task if you don’t know what to look for
By Chris Hughes, Vice President of the Australian Antique & Art Dealers Association
There’s a lot more to buying antiques than rummaging through old stuff. Chris Hughes, Vice President of the Australian Antique & Art Dealers Association has a few tips to give you an edge when hunting.
1. Do your homework
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Imagine you are buying a car.
By comparing similar makes and models you get an idea of what is a high price and what is more middle of the road.
Also, if you have an idea of what you are buying, and what it compares to, you will have some awareness of what is rare and exceptional about the item you are looking at and why it might command a higher price.
So have a look around, find things that compare to the piece you are looking at and see if you can find anything like it.
You can always ask a dealer about what makes an item worth its price.
A good dealer will have prices based on current market values and should be able to justify the asking price.
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2. Ask about an item’s history
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Any major alterations and restorations that change an item’s value should always be disclosed to you as a customer.
For example, if you are buying a chest of drawers, you should be able to ask if the hardware is original or if any other part is a replacement or has had a major repair.
Condition is one of the most important factors governing the value of an antique, so this is a critical consideration when buying something.
3. Buy from a reputed dealer
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At the AAADA all our dealers have sat an exam and had their premises inspected.
This ensures our approved dealers sell with integrity, have a good knowledge of antiques, and are following the laws related to our trade.
Similarly at our fairs, each stall has been vetted by experts to ensure that what is on the swing tag, is what a customer is buying.
Look for dealers that are associated with the AAADA to buy with confidence and know that you and your investment, are protected.
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There’s a lot more to buying antiques than rummaging through old stuff. Chris Hughes, Vice President of the Australian Antique & Art Dealers Association has a few tips to give you an edge when hunting.
4. Look over the item carefully
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I have plenty of customers that come to see a piece in my gallery with a torch and a magnifying glass.
I welcome this kind of scrutiny because quite often the real magic in an antique is the details and quality of craftsmanship.
This kind of close inspection often shows anything not quite right about an item as well what is marvelous about the craftsmanship that went into making it.
5. Know the current market trends
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It’s a good idea to know what is hot on the market.
Obviously if something is very popular like Chinese art is at the moment, you might not get the best price for it.
It’s just like real estate, if you buy at the top of the market, you will probably pay a premium price for it.
On the other hand if you are buying Japanese art, which isn’t as popular as it once was, prices will be more moderate compared to what they were when they were on-trend.
In fact, many sources are saying the sun is about to rise again on the Japanese art market, so it might be a good place to start investing.
6. Invest in what you love
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It’s no good buying something you think is a good buy but you don’t actually like all that much.
A piece of art or fine furniture is something you are going to live with, so an important consideration when buying a new piece is to make sure you love it!
Antiques aren’t usually a short-term investment, it’s after a lifetime of living with an item and loving it that you may reap the financial rewards of selling it on.
