Friday, January 16, 2009

Traditional antique market on the up

Overall sales figures for the top art and antiques salerooms outside London were largely down in 2008, but most ended a difficult year with better than expected results. Many remain optimistic that the market for traditional art and antiques, already subject to a decade of seismic change, is relatively well placed to survive the economic gloom forecast for 2009.

Guy Schwinge from Duke's of Dorcester anticipates 2009 will present a challenging operating environment, but remains upbeat. "At times like this people often focus on their homes. Bland minimalism seems to be giving way to a more furnished look."

The more general feeling across Britain's auctioneers is that the various facets of the contemporary market will lose momentum in 2008. But most expect the traditional antiques market upon which regional salerooms largely rely to be more stable, primarily because so many categories have already experienced major price readjustment.

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