A recent Wall Street Journal article suggests it has, and I’ve personally seen evidence of it. One recent example is a 19th-Century slant-front desk at a New York auction house. It had minimal damage, I’m guessing a Connecticut piece that I’d expect to see at a show for more than $5,000. At an auction, I would have expected $3,000 or so. Yet it went for around $700. I sent the article to a friend who says he too thinks there has been some pullback from the “no-price to great” period, though he hadn’t seen the kind of deals mentioned in the article. He also suggested it was a good time to buy if you can. I couldn’t agree more. Even if 18th and 19th Century furniture did stay at its current lows, it does still have resale value, something new items don’t have.
Read the article