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With 2019 now behind us, early 2020 seems to be a good time to reflect on the state of today's markets for antiques, art, and collectibles. I don't feel that there were any momentous changes in 2019... just a continuation of past trends with perhaps a slight acceleration. Here are my thoughts:
Without a doubt, the fair market value for most things continued to trend lower in 2019. This was largely across the board in all categories, with traditional forms having an especially hard struggle. By traditional, I especially mean categories such as early furniture, china, sterling silver, etc. Or, as one client put rather humorously, "anything that would have been in my grandmother's house". More contemporary categories such as Mid-century Modern seem to retain some strength, although my sense is that the popularity if this particular category has waned somewhat as well since the end of the TV show "Mad Men". Pockets of strength can be found in areas such as fine wines, vintage automobiles, celebrity memorabilia, and other more esoteric categories. Early technology such as early Apple computers also can bring strong dollars for the right piece. As in the past, an exception will always be made for the very best examples of anything, even in struggling categories like early Americana. Similarly, blockbuster items will always have a strong appeal as well... an example would be the famous Mustang used in the movie Bullitt, which recently sold for $3 million. Looking ahead in 2020, I see little reason to think the above-mentioned trends will turn around in any meaningful way. My advice to clients continues to be that if you are thinking of de-accessioning items, do it ASAP while there is at least still some sort of market to sell into. Just be aware that auction houses are getting ever more finicky about their value thresholds, so don't expect them to take just anything. It amazes me to see how so many items that once would have sold in ones or twos are now being shoved into a single lot of 10 or more similar pieces. This in turn makes it harder to attract a lot of bidders, since most people aren't looking for 10 or 12 pieces of anything. So, to conclude, you don't need to fasten a seat belt for 2020 as far the resale markets go but instead expect a continued gentle descent in values. The one wildcard will be the 2020 presidential election. Depending on how that shakes out, a loss of confidence in the financial markets could make for a nasty downturn, which will only incite more people to sell and make for even fewer buyers. Something to think about...
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 Beginning in the 17th century, a tradition sprang up among the aristocrats of Britain and the nations to take what became known as "The Grand Tour". The concept was straightforward: in order for the sons of wealthy families to gain knowledge and culture, they would take a trip through the cultural centers of Western Europe. This would expose them to the elements of classicism and the Renaissance as well as foster important aristocratic contacts.
The "tour" could last months or even years and while it did indeed provide cultural benefits, it also afforded opportunities for risqué partying and often became merely a pleasurable extended journey. By the mid-19th century, however, technological advances in transportation had opened the world to far more that just the wealthy and the Grand Tour subsequently diminished as a rite of passage for the wealthy. Picking up the baton in the late 19th century, however, were Americans. With trans-Atlantic travel increasingly accessible, wealthy American families began making their own "Grand Tour" since at the time, Europe was still considered culturally superior. Many of the affluent American patricians were self-made in humble industries and an extensive travel throughout Europe was perceived to confer a desirable veneer of sophistication. The impact of the Grand Tour on the antiques and art markets was considerable. Early on, it helped to inspire artists, architects, and other creatives. Later, it became an opportunity for the enterprising class, who sold antiquities and art to wealthy travelers or marketed their services as cultural experts and advisors. This reached a crescendo during the Gilded Age, when the so-called "robber barons" such as Frick, Carnegie, Mellon, Rockefeller, and others began to amass important art collections sourced from Europe. Skilled artists in Europe copied museum works for collectors of lesser means, and today even those works can bring substantial sums. Unfortunately, it also sparked a lively trade in forgeries, especially for works by popular, easily copied artists such as Corot. A running joke in the art world is that Corot painted two thousand works and all three thousand are in the US. Even some of the most storied galleries of the day were complicit in this trade but at the time, the rivalries were fierce and the gallery owners saw money to be made. No figure loomed larger in this than Lord Joseph Joel Duveen, arguably the greatest art dealer in history. Abetted by a shady art scholar named Bernard Berenson, Duveen sold art literally by the train car load to the robber barons. It was one of the most fascinating times in Western art history and two good books are recommended. The first, "Duveen" by S. N. Berman, is a lighthearted treatment of Duveen and his career. Less flattering is "Artful Partners" by Colin Simpson. Both are excellent and offer wonderful insights into the final peak of the "Grand Tour" era.  The mountain city of Taxco in Mexico has long been a center of silver making. Ironically, it was a North American architect, William Spratling, who first began the 20th century tradition with his silver workshop. Called the Taller de la Delicias, it was founded in 1931. Spratling combined traditional Mexican forms and iconography with hand-crafted silver jewelry that became enormously popular. This in turn inspired generations of Mexican silversmiths in the ensuing decades and Taxco remains an important center of silversmithing to this day.
While much of the silver jewelry produced over the decades in Taxco was aimed at the tourist trade, significant collector pieces also were produced. Some of the best known makers include Spratling, Margot, Los Costillo, Victoria, and Pineda. These makers produced an amazing variety of high-quality sterling silver jewelry, sometimes incorporating stones such as turquoise and onyx in their pieces. As you might expect, however, works from these artisans command the highest prices. So where is value to be found in Mexican silver? Personally, I feel that a great area to explore is the Mid-century Modern jewelry made in Taxco during the 1950's and 60's. In particular, I feel that excellent bargains can still be had in the so-called "mixed metal" pieces made by lesser-known silversmiths. These are pieces that combine other metals such as copper with the sterling silver (plus stones such as malachite and onyx). The value stems from three things, as I see it. First, by seeking out works by talented but lesser known silversmiths, you avoid a "name" premium when purchasing a piece. Secondly, the design of some of the pieces can be absolutely striking and thus make a strong statement when worn. Lastly, Mid-Century Modern design remains very popular today, which in turn keeps the Taxco mid-mod jewelry relevant to current fashion trends. This is especially true with pieces that combine bold designs and clean lines, such as the ones shown in the above photo. As to where to find good pieces online, look at sites such as Etsy and Ruby Lane. If, like me, you also enjoy the true thrill of the hunt, go to antique shows and flea markets and search the large flat cases of jewelry that many dealers put out on their tables. This allows you to inspect a piece closely and also bargain with the dealer for a better price. Most show dealers have some wiggle room in their prices so never hesitate to ask. Expect to pay $100 or less for most pieces which, when one considers the craftsmanship, age, and design, is an absolute bargain in my book. Happy hunting!  Discovered in 1831 on the Isle of Lewis in the Outer Hebrides, the Lewis Chessmen are one of the most famous artifacts found in Europe. Numbering about 93 pieces, the chessmen are mostly carved from walrus ivory and date to the 12th century. For many years historians have attributed the origin of the pieces to Norway. Researcher and author Nancy Marie Brown, however, has raised the possibility that the set may have in fact been carved in Iceland by an artisan known as Margaret the Adroit. If so, it would then be likely that the chess pieces were given as gifts to Norwegian nobility by an Icelandic bishop or other high ranking official. Regardless, the highly unusual chess figures have stoked the imagination of archeologists and historians ever since their discovery. Presently, 82 pieces reside in the British Museum, 11 in the National Museum of Scotland, with four pieces unaccounted for. Until last month, the total of missing pieces was five but a recent discovery now has a placed one piece in private hands. Purchased by a now-deceased Scottish antiques dealer for $6 in 1964, the piece was found in a drawer by the dealer's heirs and brought to market via Sotheby's. Estimated at $670,000 - 1.2 million, the chess piece hammered down for $927,500, thus making it the most expensive chess piece ever sold at auction. The buyer chose to remain anonymous and whether the piece will be placed for public viewing in the future remains unknown. Although this is an extreme example, it also illustrates a mantra of mine: always get things checked out if you are unsure as to whether an item has value. Odds are, you won't have a Lewis Chessmen piece on your hands, but it doesn't mean you don't have something of value! NOTE: For further reading on Brown's theory of Icelandic origin, you can track down her book, Ivory Vikings: The Mystery of the Most famous Chessmen in the World and the Woman Who Carved Them (St. Martin's Press, 2015).  With items across the board bringing less and less each year, finding value in an estate can be challenging. One area that people often overlook, however, is the jewelry box. What many people dismiss as out-of-fashion and costume jewelry can still have significant value just on the metal content alone.
As I write this post, sterling silver is at a very low price point and thus it will take a fair amount in terms of weight to generate significant income. That being the case, the silverware chest will be a better bet than the jewelry box. Gold, however, is a different story and it doesn't take much to start adding up to some real money. Weighing gold can be confusing since it is often measured in troy ounces, which are heavier than standard ounces. But, a troy pound has fewer ounces than a standard pound so the troy pound is lighter. My advice is to make life easier and just weigh everything in grams, like I do. Problem solved since the internet has free sites galore that will give you daily prices of metals in grams. Gold content is very important. Your finest gold will be 24 karat, followed by 22K, 18K, 14K and on down to 8K. By law, gold must be marked but often times the mark is very hard to find. And, sometimes instead of a karat mark you will instead see a number, such as "585". This is a percentage number based on 24K as 100 percent. 585 means 14K gold since 14 divided by 24 is essentially .585. Likewise, .750 means 18K gold since 18 is 75% of 24. Obviously, the higher the gold content the better when it comes to value. One mark to watch for is "GF". When present, it will almost always be immediately to the right of the gold mark. GF means "gold filled" and might as well stand for, "not gold". A "gold filled" item, also sometimes called "rolled gold", means that the item is made of base metal with a thin gold coating. There is no precious metal value in a gold filled item, so be sure to look for it before taking an item in to sell. A final word of warning: on occasion, a gold chain will have a gold clasp but the chain itself will be "gold tone", i.e. base metal with a gold finish. The photo above is a good example of this. The clasp is marked "585", meaning 14K gold, but the chain turned out not to be gold. As Ronald Reagan famously said, "trust... but verify". A reputable gold/silver dealer will usually perform this test for you while you wait.  Insurance is a topic that sends almost anyone heading for the hills. Face it, most of us would rather talk about anything... March Madness, the weather, annoying relatives, you name it... rather than insurance. But, if you have nice things, insurance is something that you really want to explore.
Perhaps the most common misconception is that artwork, antiques, etc. are covered by your homeowner's policy. In fact, that usually is not the case. To get coverage for your finer things, most insurance companies require a separate policy commonly referred to as a Fine Arts Rider. The value threshold will differ from company to company, so this is a conversation you definitely want to have with your agent. In most instances, insurers will require a written insurance appraisal for items covered by the rider. While that is good for appraisers like myself, you will want to do the math first to make sure the appraisal cost plus the rider cost makes sense relative to the items you wish to cover. For household contents, a great idea is to do an inventory, both written and digital. Save purchase receipts and scan them both to a flash drive that you can store off site plus on cloud server such as Google. Redundancy is your friend here! The easiest way to do the digital documentation is to do a slow 360 degree video of each room. Most insurance companies will do the right thing regardless but there is a lot of truth to a picture being worth a thousand words. Lastly, do your inventory and insurance updates now. Having been through Hurricane Irma here in Sarasota, take it from me: you will have your hands full with plenty of other things besides insurance policies in the event of severe weather or any other sort of disaster ;-)  Adult beverages have been a part of American history from the very first days of the colonies. Taverns were key meeting spots and early accounts indicate that the settlers consumed copious amounts of booze of every sort, often locally distilled. Thus, most of the early glassware made in the US was aimed at both the storage and imbibing of spirits, including the lovely "swirl" bottles made in Zanesville, OH in the early 19th century.
One of my favorite early forms is an ale tumbler referred to as a "firing glass". These were tapered ale glasses mounted on a thick, solid discoidal base. Popular in lodge halls, the lodge members would pound the tables with them as a way of applause, although they were also probably a convenient weapon during the occasional brawl. With the introduction of sophisticated European wares in the late 19th century, American glass makers strove to produce equivalents here in the US. Some of the best forms were the amazing cut crystal glass decanters and whiskey tumblers made in Wheeling and other US glass centers in the late 19th and very early 20th centuries. By the 1920's, American glass houses were expanding into different colors and adding etches and overlays to their wares. Over time, fussy designs gave way to sleeker, more contemporary looks such as the 1930's Cambridge decanter set shown above. The advent of the Mid-century Modern era furthered this trend. Metal cocktail shakers became standard fixtures in homes along with contemporary highball and martini glasses to go with them. These latter pieces of barware have enjoyed a noticeable return to popularity thanks to the Mad Men TV series. Prices today across the barware field reflect this trend. Elegant crystal such as Waterford and Baccarat brings a fraction of what it used to. More popular instead among collectors and those just looking for fun barware are the mid-mod cocktail shaker sets and other pieces of barware with a contemporary look. Speaking as an appraiser, I expect this trend to continue for the foreseeable future.
Ohio was home to many excellent glass houses in the late 19th and 20th centuries. One worthy of special note is the Cambridge Glass Company, which enjoyed a fifty-two year run from 1902 to 1954. Disclaimer: the fact that my wife has collected Cambridge for over 30 years has everything to do with this post. Started in the eastern Ohio town of Cambridge, the location was a strategic one due to the area being rich in natural gas and coal, which were needed for commercial glass-making. Also helpful was the hiring of Andrew Bennett as director, a native of England with years of experience European glass and porcelain markets. At the time of his hiring, Bennett had forged close ties to Boston and New York, two of America's most important cultural and retail centers at the time. Early pieces made by Cambridge were mainly utilitarian such as lamps, tumblers, and bowls. By the 1920's, however, the enormous popularity of the Art Nouveau and Art Deco aesthetics induced Bennett to largely eliminate heavy common pressed ware and instead expand into colorful opaque lines and lighter clear pieces. Also introduced at this time were many distinctive etches, including "Marjorie", which was named after Andrew Bennett’s daughter. For the next few decades, Cambridge Glass prospered due to the penchant for formal entertaining. There were glasses and serving pieces for every occasion as well as many etches aimed at brides looking to register a pattern. Just to illustrate the variety: within a single etch, iced teas, creme de menthes, low wines, tall wines, sherbets, and clarets, among other stemware. Cambridge also formed cross-ventures, including making perfume bottles for the DeVilbiss Company in Toledo, Ohio. Founded in 1905, DeVilbiss still exists today although they have long since changed from making perfume atomizer hardware to industrial paint sprayers. The war years and ensuing Mid-century Modern period saw sweeping changes to American culture but Cambridge likewise changed, introducing new colors and sleek, modernistic designs. One of the best known is the Square pattern, which was introduced in 1951 and highlighted by the Museum of Modern Art. Square was produced in both crystal and Ebon (a matte black called) and look like they would be something in which Don Draper's wife would proudly serve cocktails. Despite their quality and penchant for innovation, Cambridge ultimately succumbed in 1954 to an onslaught of cheap factory-made glass and the decline in formal entertaining. Although values of Cambridge glass have declined along with most other collecting categories, certain rare etches such as Japonica can still send pieces into the thousands of dollars. For more information about the history of Cambridge glass and the wares they made, please visit cambridgeglass.org. And if you have any Japonica that you are interested in selling, please let us know ;-)  Recently I have been on a tear reading mystery fiction set in late Victorian and Edwardian England. David Dickinson's wonderful series featuring Lord Francis Powerscourt is a favorite, and I have also been enjoying Barbara Hambly's excellent James Asher vampire novels as well. Thus, it seems fitting to share some information about mourning jewelry, which became very popular during the Victorian era and remained so throughout the Edwardian era as well.
Mourning jewelry is pretty much what it sounds like... jewelry worn to commemorate a lost loved one. The most common form of this is the hair locket and wearing woven hair of some sort actually dates back to the 16th century. The tradition was revived by Queen Victoria and it remained popular into the early 20th century. Some of the lockets were very large and elaborate, with the finest being made out of gold and sometimes featuring enameled decoration and semi-precious stones. Smaller versions were worn either as a small pendant or a charm on a bracelet. Other mourning jewelry forms included charms carved from ebony and onyx and "lover's eye" rings and lockets. The latter were pieces that featured a closeup of a loved one's eye, and were usually painted pieces. These first became popular in the late 18th century and persisted into the 19th century, although the trend overall was somewhat short-lived. Along these lines were portrait miniatures, often done on bone or ivory. These were eventually replaced by photographic images in the second half of the 19th century. In some cases, a portrait miniature will feature a glassed compartment on the reverse in which a lock of hair could be placed. Overall, there remains an active collector's market for good examples of mourning jewelry. Expect to pay a premium for pieces crafted from gold and in elaborate forms. Similarly, a portrait miniature will bring more if the quality of the painting is above average. Sometimes one can find a charm bracelet composed mostly of mourning jewelry charms. These can have good value and more often than not, the value is greater if the charms are sold separately.  Hoarding behavior is not unlike a train wreck in that it is both disturbing and intriguing; the popularity of reality TV shows like Hoarders is testimony to this. In my opinion, such shows typically paint hoarders as kooks who simply need to have their "stuff" hauled out of their house for their own good. The reality, as you might suspect, is far more nuanced.
According to hoarding expert Dr. Jane Roberts (no relation) of the University of South Florida Sarasota-Manatee, hoarding is now considered to be its own mental disorder. It is a complex disorder and can manifest itself to varying degrees and with different things being the hoarding focus. Some hoarders focus on one or two items, such as clothing or books. Others may focus on animals, such as cats. In the worst cases, virtually everything is kept, including newspapers. When hoarding reaches a crisis point, it is not unusual to find the hoarder confined to tiny areas for actual living connected by so-called "goat paths". These situations often call for intervention since public health becomes an issue as well as the safety of the hoarder. Whether dementia has a relationship in some way with hoarding is an area yet to be explored by behavioral science. When working my appraisal work involves a hoarding situation, a special approach is called for. Oftentimes, the hoarder will not discriminate between valuable and worthless items, so it is not uncommon to find valuable items and even money stashed in unlikely places. This means that a thorough search is usually needed in the event there is something worthwhile squirreled away. A case in point involved a recent hoarding situation where I discovered the hoarder had valuable Native American antique jewelry packed along with cheap new jewelry from Asia. There was no attempt at organization... the hoarder apparently just saw it all as "jewelry" and treated it accordingly. This person also hoarded clothing and there were racks and racks of never-worn items, with Paris couture side by side with thrift store garments. If you have a friend or relative that is hoarding and are not sure how to deal with it, consider an insight-oriented therapy program. According to Dr. Roberts, such interpersonal therapy is presently regarded as the best treatment option. It addresses the thinking that is driving the hoarding behavior and thus offers a potential pathway to behavioral change. To contact Dr. Roberts and learn more about hoarding treatments and obtain a brochure about the disorder, please visit www.lifecoach.net. This will have contact information for Dr. Roberts, for whom I have developed great respect after hearing her speak to various organizations. In short, while it is undeniably fascinating in some ways, hoarding is not a disorder to take lightly when it reaches extremes. It can ultimately become a danger for the person who has the disorder as well as both relatives and neighbors and even animals, if they are the hoarding focus. As you can imagine, hoarding situations are some of the most challenging jobs that come my way. |
AuthorBryan H. Roberts is a professional appraiser in Sarasota, FL. He is a member of the Florida State Guardianship Association, the Sarasota County Aging Network (president), and is certified in the latest Uniform Standards of Appraisal Practice (USPAP) Equivalent Archives
November 2019
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