Despite the credit crunch and a downturn in the antique furniture market, there is still plenty of business being done. Everyone likes to think that they are getting a bargain, and buying antiques is no exception.
In a depressed market, where 50% off the price of antiques compares very favourably with a 20-30% downturn in the housing market, investors should certainly be buying plenty of antique furniture. A good reduction in the price means that everyone benefits. At auction, fewer bidders means less competition, with less people taking part and more competitive prices as a result. However, when attending the auction it is crucial to locate where the weak areas are in order to take the fullest advantage. It is dealers particularly who are able to benefit from low competition where leaving very low bids can result in bargain ‘under the hammer’ prices.
Paying cash is always a good strategy in a recession where getting a line of credit from a bank can be quite difficult. Selling stocks of antique furniture for 50% off, then re-investing, is a good policy. Selling over the internet is also an effective way of offloading stock quickly. No sale means no money to re-invest.
The market may be cautious, but people are definitely buying antiques – and at competitive prices. In a market that will rebound, now is the time to sell antique furniture competitively in order to buy competitively for future profits. Buying antique cabinets in Lancashire , Cumbria and across the country at competitive prices will ensure future healthy profits.
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