The antique furniture market and the rare coin market are incredibly similar
Longacre
Posts: 16,717 ✭✭✭
I am a member of my town’s chapter of the Lions Club (charitable organization). On Saturday, we had our annual duck race fundraiser and held a small fair in conjunction with the race. I was assigned to watch over the moon-bounce (incidentally, I was told that no one has ever run a better moon-bounce than yours truly 
). Anyway, the fellow Lion that I was working with happens to collect antique furniture. I like hanging out with him because he is a pretty interesting guy. As we were talking about antique furniture and coins, I realized there is an incredible similarity between the antique coin market and the rare coin market. Here are some of his statements to me. You can easily change “antique furniture” to “coins” in any sentence:
“If you collect antique furniture, it is best to specialize, because it is impossible to be good at everything. I only collect 19th century desks and chests from New England.”
“If you find a good dealer, give him most of your business. Good and ethical dealers are hard to come by.”
“When buying antique furniture, it pays to buy the best you can. Otherwise, you just end up with a bunch of junky furniture”
“The only people who make money in antique furniture are true collectors, who tend to get good returns on their investments in spite of themselves. They have a collector’s eye for quality and they buy appealing pieces that others will find appealing when it comes time to sell. It is almost impossible for “investors” to do well consistently.”
“There are a lot of sharks in the antique furniture business.”
“Too many people strip the surfaces of antique furniture, thinking they are “improving” the piece. It is just the opposite. A nice, crackled, crusty 19th century chest is much more desirable than a 19th century chest that has a nice new coat of stain or varnish on it.”
With every statement, I was exclaiming, “that’s just like the coin market!” It was a pretty good conversation. (Incidentally, he said he found a colonial coin in the floorboards of his house (built in the 1700's) and he wants me to take a look at it. He claims it is some sort of “Spanish coin”, but that is all he knew about it).
). Anyway, the fellow Lion that I was working with happens to collect antique furniture. I like hanging out with him because he is a pretty interesting guy. As we were talking about antique furniture and coins, I realized there is an incredible similarity between the antique coin market and the rare coin market. Here are some of his statements to me. You can easily change “antique furniture” to “coins” in any sentence:“If you collect antique furniture, it is best to specialize, because it is impossible to be good at everything. I only collect 19th century desks and chests from New England.”
“If you find a good dealer, give him most of your business. Good and ethical dealers are hard to come by.”
“When buying antique furniture, it pays to buy the best you can. Otherwise, you just end up with a bunch of junky furniture”
“The only people who make money in antique furniture are true collectors, who tend to get good returns on their investments in spite of themselves. They have a collector’s eye for quality and they buy appealing pieces that others will find appealing when it comes time to sell. It is almost impossible for “investors” to do well consistently.”
“There are a lot of sharks in the antique furniture business.”
“Too many people strip the surfaces of antique furniture, thinking they are “improving” the piece. It is just the opposite. A nice, crackled, crusty 19th century chest is much more desirable than a 19th century chest that has a nice new coat of stain or varnish on it.”
With every statement, I was exclaiming, “that’s just like the coin market!” It was a pretty good conversation. (Incidentally, he said he found a colonial coin in the floorboards of his house (built in the 1700's) and he wants me to take a look at it. He claims it is some sort of “Spanish coin”, but that is all he knew about it).
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
<< <i>... incredible similarity between the antique coin market and the rare coin market. Here are some of his statements to me. You can easily change “antique furniture” to “coins” in any sentence:... >>
Looks like you already changed furniture with coins.
the dealers will do whatever to that old furniture to make
a profit. even ruining the original finish if that is what is
in style at the time.
the same people who like their furniture "original" were slapping
latex on antiques 20-30 years ago.
people change, hobbies change, etc..
i reckon, just do what you want in your chosen hobby even if
it is burn the antique furniture to stay warm in the winter.
There is also the issue of shipping...
<< <i>They aren't similar at all when it comes to liquidity. Coins are by far the most liquid collectible.
There is also the issue of shipping... >>
True statement made. If you watch that antique roadshow you will notice they usually state "at the proper auction" or "at the right auction" or if it's something weird like a valuable pen they say "at a pen auction". Ok so maybe an antique person knows where they are but the average person would really have to go out there way to find them and go to them.
COINS on the other hand you will find dealers, stores, shows, everywhere.
And then there is storage. How many antique chairs can you fit in your safe deposit box?