Family Treasures Reassessed: Unveiling Ten Heirlooms That Turned Out to be Worthless - and Some Unearthed Gems of Inestimable Value
Antiques, heirlooms, and collectibles that hold significant sentimental value for many homeowners may not have delivered the monetary returns once anticipated. These beloved items, purchased decades ago for thousands, have not increased in value for over 40 years in many cases, representing a substantial loss in real terms.
Antique Furniture -- A Proven Poor Investment
Perhaps the most striking example of such a misinvestment lies in popular antique furniture pieces. Mahogany, rosewood, and walnut dining tables, chairs, and cabinets from the 1970s and 1980s are now worth a mere fraction of their original prices. Douglas Carter, owner of Alice's antique shop in London's Portobello Road, attributes this decline to the skyrocketing cost of modern real estate, making it impossible for many families to accommodate large antique furniture pieces in their small apartments.
High-quality rosewood dining tables that once fetched around £4,000 in the 1980s and 1990s — equivalent to approximately £17,000 in today's money — are now only worth a few hundred pounds and hard to sell. Smaller side pieces such as davenports (compact writing desks) that used to sell for £700 to £800 are now typically only worth around £100, according to Robert Barham of Barham Antiques in London. Bookcases, oak chests of drawers, and desks that were once valued at hundreds may now only sell for £20. Only the rarest and best pieces have maintained their value.
Porcelain, Silverware, and Clocks -- similar market trends
Antique porcelain sets and silverware have also experienced dwindling demand and lower monetary value. Investors may find that even Royal Doulton porcelain sets, popular gifts for weddings, are now worth very little, while porcelain and ceramics shops have much less stock than they did decades ago due to the lack of sales.
Victorian silver tea sets, once coveted items seen in shows such as Downton Abbey, have witnessed a significant drop in value, except for solid silver sets, which maintain their value alongside the price of raw silver. Silver plate, on the other hand, has depreciated substantially.
Grandfather and mantel clocks, once essential household items, have fallen out of fashion due to the rise of mobile phones and digital clocks on household appliances.
Other Collectibles -- candlesticks, figurines, and glassware
Antique candlesticks, collectible figurines, glassware, and wooden writing boxes have all suffered a similar fate. While a friend of Portobello Road antique shop owner Judy Fox managed to sell only £6,000 worth of a collection estimated to be valued at £80,000, other collectors may be luckier if demand for their items sparks a bidding war at auction.
Exceptions to the rule
While the market for many antiques appears bleak, some items still command high prices. Advertising paraphernalia, antique taxidermy (especially fish), vintage watches, and rare and odd items remain sought after and can bring in significant returns if they find the right buyers.
The Rise and Fall of Antique Value
Antique experts attribute this market shift to various factors, including the decline of traditional dining, the aging collector base, the saturation of the antiques market, consumer preferences for minimalist, contemporary styles, shrinking home sizes, and changing demographics. The global market for antiques has also contracted, with export rates nearly halving in the last decade.
[1] According to "Which?," British homes are 20% smaller than they were in 1970.[2] "Antiques Trade Gazette" reported in October 2021 that younger generations show less interest in antiques collecting due to their sustained devaluation.
- Cryptocurrency prices, like the antiques market, have experienced fluctuations over the years due to changes in consumer preferences, global market conditions, and technological advancements, as seen in the rise and fall of antique value.
- For those interested in fashion-and-beauty, the sale of vintage clothing and accessories has remained steady, with interest from Millennials and Gen Z buyers creating a niche market that helps mitigate devaluation concerns.
- It's not just antiques that have faced devaluation; food-and-drink collectibles, such as rare wines, vodka, and other spirits, can also suffer from market oversaturation, much like the porcelain and silverware sectors.
- In the realm of education-and-self-development, classic books and literary first editions have remained valuable, with rarities and items signed by famous authors continuing to maintain (or even increase) their worth despite the changing landscape of book consumption and publishing.
- Entertainment memorabilia, such as signed movie posters, original movie props, and limited-edition video games, have also proven to be more resilient to devaluation; however, mainstream merchandise often experiences reduced market demand and lessened returns over time.
- In general-news, it's worth noting that the global market for modern luxury goods, such as fashion and jewelry, have actually demonstrated growth and stability, despite the ongoing volatility in various collectibles markets. This underscores the importance of understanding the unique factors driving market trends for individual asset classes.
