Are antiques a good investment? If so, which are the best pieces to invest in? If you’re considering buying antiques to expand and diversify your portfolio, it’s normal to ask those two questions. First, antiques can be good investments, but their value is dependent on a lot of factors such as the market and overall condition of the piece. Second, the best antiques to invest in depend on different factors, and that’s what we will share with you today.
Antique items are not limited to furniture and artwork. There’s a wide range of antiques that you can collect such as pottery, plates, clocks, jewelry, sculpture, lighters, mirrors, glass, bottles, vases, portraits, blankets, coins, wines, memorabilia… the list goes on.
So, how do you know which one will make the best investment? Quick answer: it depends and here are some of the tips to help you figure that out.
1. You need to have genuine interest for it.
More than the potential of being a valuable investment, you need to have a passion for collecting antiques. That should come first. When you buy a particular piece, do so because you have genuine interest in it. Financial gains should only come next.
Buy antique pieces that you don’t mind having for a long time. Make sure that you only purchase items that you’re willing to clear up space for. When you love antiques, you wouldn’t mind having them around, especially when markets are down and putting them up for sale is not advisable.
2. Always go for quality pieces.
According to rule of thumb, an item is considered antique if it’s 100 years old or more. However, age is not the only criteria of a valuable piece. Rarity, provenance, and overall quality are other factors that influence the value of an antique item.
When you go shopping for antiques, make it a point to only go for pieces that are in good condition and made with the finest materials and impeccable craftsmanship. If an item has excellent quality, it will transcend through time and if you decide to put it up for sale in the future, you will have better chances of getting good offers.
3. Be an expert.
Whether you love old coins, or have a passion for antique furniture, you need to be an expert on the pieces you are collecting. When you learn as much as you can on your favorite types of antiques, you are setting your eyes on finding the best of its kind.
For example, you love collecting antique china cups. As you learn and gain insight about them, you will strive to look for the best antique china cups out there. As a result, you’re not just expanding your knowledge, but you’re putting more value to your collection.
It’s also important to learn the history of the pieces you own, because it gives you better chances of selling a piece at a good price. On the other hand, It’s for your protection too, because when you know the story behind an item, con artists will not be able to scam you and trick you to believe it costs lower or higher than it actually is.
In addition, familiarize yourself with how antiques are appraised, especially for your particular collection. Learn the methodology appraisers use and the qualities that you need to look for in an evaluator.
4. Take care of your antique collection.
If you really plan on selling your antique collection, make sure to take proper care of them. Avid collectors and buyers are very keen on details, and even the slightest damages such as scratches, small chips, and minor dents can cause them to pass up on an item, no matter how rare it is.
5. Go out there.
You never know where you will find your next treasure so go out and visit thrift stores, yard sales, and auction houses. Part of the joy of antique collecting is the hunt, and the priceless feeling that comes after snagging a rare piece.
Going out there also allows you to meet fellow enthusiasts, which help you gain more insight about the industry and expand your network.