The old adage that a thing is worth what someone is willing to pay for it certainly rings true in the world of antiques. When compiling my annual price guides, I am sometimes amazed by the difference between the value ascribed to an item by the experts and the price it eventually realizes on the market.

A remarkable Italian micromosaic table was snapped up at auction earlier this year for nearly a cool half million dollars, five times the auctioneer’s initial estimate of just $90,500-145,000. Despite this story, and other evidence of a healthy and vibrant market, a spate of recent press articles seem to have drawn the conclusion that the antiques industry is in the grip of a lengthy decline. The rise of the young, trendy entrepreneur at the expense of the stuffy old money and other demographic shifts, such as the tendency towards later marriage and consequent postponement of nest-making, have all been seen as steps along the road to a society increasingly uninterested in antiques and collectables.

(Above) A fine Italian micromosaic ‘Chronological Rome’ table by Michaelangelo Barberi with views of historic buildings in Rome.
c1845 40.25in diam $500,000-700,000
Courtesy of Dreweatt Neate

To be sure, there are some areas in which dealers are feeling the pinch. British galleries, some of whom have traditionally relied upon state-side tourists for up to fifty per cent of their turnover, have been hit by the weak dollar and a general reluctance among the American public to travel quite so frequently as they may have done in a pre 9/11 world. But the doomsayers in the media do seem to be presenting a rather skewed vision. After all, a market in which a Roman glass bowl can sell for almost four and a half million dollars must be showing some signs of buoyancy! Other record prices set this year include over $4,000 for a 1950s Dunhill plastic lighter, $300,000 paid for an American Rookwood vase, $435,000 for a steamy letter from James Joyce to his wife Nora, and an astonishing $1.5 million for ‘Blackie’, the Fender Stratocaster guitar once owned by Eric Clapton.

(Above) A rare reverse carved and painted Dunhill ‘Aviary’ table lighter.
c1951 4in long $3,200-4,200
Courtesy of Dreweatt Neate

Away from the top end of the market there are further signs of prosperity. I have recently seen Ysart paperweights, Moorcroft vases and 19th century work boxes all outstrip their estimates and sell for a good profit. Recent hot fields have included areas as diverse as graphic arts, modern designer furniture, costume jewellery and provincial silver. The common link here is specialization – a collector with a craving to fill that gap in his collection of Moorcroft vases with a rare version of the ‘Claremont’ pattern is not going to be easily deterred by price, and so the ceiling is higher. The market for ’brown furniture’, on the other hand, has been relatively slow moving. Cumbersome or large items like longcase clocks do not gel well with today’s smaller house sizes and more itinerant lifestyles. Bureaus that might have realized up to a thousand pounds years ago now struggle to make $360. They have fallen out of favor because they are not the right size for that most modern of home comforts, the PC. Whereas in the past people would emulate their friends, families and neighbors when purchasing antiques and decorative arts, today’s consumer is generally looking for something a little out of the ordinary. The 21st century antique hunter has a highly developed sense of personal taste and will often seek out the weird and wonderful, especially pieces that have a strong provenance, and are easily displayed. These attitudes might help to explain the furor that inevitably surrounds sales of exotic novelties such as Chinese porcelain from shipwreck cargoes.

(Above) A Georgian Mahogany bureau, with fall front and bracket feet.
38in long $800-1,200
Courtesy of Lyon & Turnbull.

Ceramics by the great Art Deco designer Clarice Cliff regularly sell at auction for $360 or even less. The more common patterns and shapes, such as ‘Crocus’, can be found at just about any decorative arts auction, and their easy availability translates into moderate prices. At the highest end of the market, rare patterns or shapes attract the attention of the most dedicated Cliff collectors and have realised extraordinary prices. The highest price so far paid for a piece of Clarice Cliff was just over $18,000 for an extremely rare large plaque bearing the desirable ‘Appliqué Lucerne’ pattern. A salesman’s sample vase with the same design was sold last year for more than $3,600, despite being less than three inches high! The most exquisite and hard to find pieces in any field, whether it be Queen Anne furniture, Scottish quaiches or Oriental vases, are without doubt the most likely to appreciate in value year on year and will certainly always attract market interest, as long as they are in fine condition.

(Above, right) A rare Clarice Cliff ‘Applique Lucerne pattern miniature vase, probably a salesman’s sample.
3in high $3,200-4,200
Courtesy of Woolley & Wallis.

As prices on less favored items fall, there are real bargains to be had. It is incredible to think that beautifully designed 19th century solid chairs can be bought for a less than $175 when the same amount could quite easily be spent on a mass-produced modern chair that becomes worthless the moment you get it home. Blue and white transfer-printed plates look fantastic when displayed together and are currently very reasonably priced – a lot of six plates by Spode might cost as little as $180 at auction. Items such as these represent better and better value for the buyer, and market interest might well be reawakened in the future. At other times, the market is subject to a sudden jolt by an event in the industry: when the Beswick factory ceased production in 2003, prices for the collectable animal figures they produced began to soar and have been climbing steeply ever since. Exhibitions at venerable institutions such as the Victoria and Albert Museum increase public awareness and interest, and this can have a knock-on effect on prices.

(Above) A 19thC Spode blue and white transfer printed plate.
24.5cm diam. $50-80
Courtesy of Woolley & Wallis.

Some things seem to transcend these market fluctuations and hold their value in a relatively stable fashion. One such area is Lalique glass, which is a perennial favorite. While prices range from a couple of hundred to many thousands of pounds for a piece of antique Lalique glassware, within these bands the annual price changes are relatively predictable. The Lalique Collector’s Club advises its members to increase the insurance coverage on their collections by five per cent each year. Designers and makers that are less well established in the marketplace, such as the glass manufacturer Whitefriars, may be more susceptible to its capricious nature, and this can mean large increases in value over short periods. ‘Banjo’ vases by Geoffrey Baxter for Whitefriars are now selling for up to $1,800 or more when they would only have realised a fraction of that amount just a few years ago.

(Above, right) A Lalique red ‘Ronces’ vase, with moulded and engraved marks to base.
C1921 9.5in high $5,000-7,000
Courtesy of David Rago Auctions.

(Left) A Whitefriar’s ‘Banjo’ vase designed by Geoffrey Baxter.
C1967. 12.5in high $1,500-2,000
Courtesy of Graham Cooley Collection.

Of course, everyone wants to know what will be the next sensation – which neglected designer’s work is next to be rescued from relative obscurity and start breaking records in salerooms around the world? Without the help of a crystal ball it is impossible to say for sure, but careful study of the current climate and close reference to price guides will certainly give you the head start that you need!