At The Finer Things, a New York and Cincinnati-based company dealing in the upscale secondary market, requests from collectors looking for investments are on the rise. Requests for quality antiques, fine art and jewelry have increased extensively in the past few months, according to a press release issued by The Finer Things earlier this week.
“We get emails and calls daily asking what do we have available,” said Reyne Haines, co-owner of The Finer Things. “Investors have money to spend, it’s just a matter of finding the right deal.”
With turmoil in the market and a choppy economy overall, investors are looking for new options to make money work, and antiques is becoming a popular option, according to the release. In fact, some of the items The Finer Things have acquired for clients recently include a 1992 Ferrari, a 70-carat diamond necklace, and a Modigliani sculpture.
“The amount of fine goods coming through the door has increased dramatically in the past four months as sellers are looking to raise cash,” said Jennifer Rofe, co-owner of The Finer Things.
Another area people are turning to for investment options is coins, especially with the precious-metals market on an upward tear. However, even at a time where interest is high and the market is stronger, proceeding with caution is a must.
“The value of collectible coins tends to fluctuate over time. Hot coins, currently made of gold, soar. In other times it was Morgan dollars or Lincoln cents. But what collectors know is that anyone who spends time patiently assembling and completing a set where the coins are in matching grades and have eye appeal, tends to make a profit in addition to the many hours of pleasure achieved by working toward that goal,” said David Harper, editor of Numismatic News. “Without the collector approach for guidance, investors can charge into markets at the top and get badly burned. The last time gold was at a peak was 1980. It took 27 years for buyers at that top to get their money back.
“Coins can be good investments, but they must be bought with a collector’s eye and not with a get-rich-quick enthusiasm.”
Of course, it’s not just those investing who are looking to antiques as an answer. As people face financial woes, more are assessing the value of the antique jewelry, furniture, toys, fine art they own, and items from a host of other collecting areas.
“The most-asked question I get is, ‘What can I do with all this stuff I inherited,’” said Mark Moran, senior editor for antiques and collectibles books at Krause Publications. “These people need to know where to go for answers about appraisals, insurance and selling at auction. At Krause, we’re planning a series of online events that will address all these points.”
As you deal with deciding to buy or sell, identification and pricing references and resources are always a good investment for all your antiques and collectibles plans.
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