Today, the antique business has a new problem: old customers.
Boomers and their parents, who have been collecting antiques for decades, no longer have the room or the inclination to buy more antiques. Their Generation X successors do not seem to care for antiques.
“The trend is away from antiques,” says Red Whaley, owner of an antiques business in Forney, Texas, since 1968. “I think it skips a generation,” Whaley said in a recent Associated Press article. “You just do not want what your parents had.”
Attend any antique show in the US, and all you will see is a sea of silver hair and bald heads. This leaves antiques dealers in a quandary: their customer base is shrinking, sales are plummeting, and they are buried in inventory.
The shrinking customer base is just phase one of the problem. When millions of boomers start to downsize and the antiques they have been collecting for decades hit the resale market, prices will plunge as well.
There will be an overabundance of supply, and very little demand. Boomers that bought antiques as an investment are in for a rude awakening. In many cases, they will not recoup their original investment. Read More
Originally posted 2013-11-12 16:31:00.