The American economy is not in a good place. The stock market is down, and the odds of a recession have increased. The cost of many goods has increased because of tariffs. The cost of domestic products such as food and eggs continue to rise. People are watching their 401s, Roths and other investments decrease. The Wall Street Journal reports that buyers are backing out of purchasing high end homes because of the economic turmoil and the ambiguity of what is going on with no end in sight.
The question is: How is the economic downturn, volatility, and ambiguity going to affect collectors and dealers in the American antique market? Are collectors already telling dealers – “If it had been a couple of months ago, I would have been interested but not now.” The recently concluded Philadelphia Show, the Mid Atlantic Antiques Festival and upcoming evens at different price points offer some answers. How did dealers do? Was traffic down? Were sales down? What was the mood? I would love to know.
Another answer can be found in the auction world. Are prices down? Are more pieces going unsold? Are fewer collectors participating in the auctions?
I have always thought of my antique dollars as somewhat separate from the economy. They sit there waiting for me to fall in love with a piece, waiting to be spent. But I am a bit nervous I will admit of a large dollar purchase at the present time. I plan to attend Antique Week in Manchester in August. If the present economic turmoil continues it will be interesting to see if crowds have lessened, and what collectors and dealers have to say.
Paradoxically it may be a good time to buy. Stay tuned.
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