"An imporant consideration in the days ahead ..."

The third quarter headline on the RICS Art & Antiques website reads:“Activity slows due to housing market downturn, but top end is still buoyant.” This follows the second quarter headline: “Super rich bolster the market” and the first quarter,“Investments in arts and antiquescontinue to rise”. Perhaps fourth quarter headline should read ‘A year is a long time in the Art World’.

The first 3/4 of the year was influenced internationally by the strength of the Modern and Impressionist Art Market rather than the traditional art & antiques however. In recent sales this modern bubble appears to be bursting, as predicted for sometime, bringing the art world to the brink of collapse as happened in 1990. We have seen the economic chaos at the top end of that market bring financial worries to us all.

The Government created fiscal changes to cushion a blow that will knock many out later. The traditional, commercial auction market place has had to cope with a down turn in many areas of “antiques” for the past seven years. Despite ‘50% Off’’ furniture being advertised in many of the country’s larger department stores, prices there are many times higher than antique furniture being sold at auction;the latter being both of superior materials and workmanship.

We must continue to bring this observation to the attention of the public, letting the world know just how much better value an antique is compared to the modern equivalent. An important consideration in the days ahead, where greater saving will have an important role to play in all our lives.