According to a recent article by The Business Desk, the value of antiques is set to rise. They reported that a survey carried out by the Royal Institution of Chartered Surveyors (RICS) on arts and antiques has shown that lots in the £50,000 and above bracket have risen by 18% as have lots that fall within the £5,000-£50,000 bracket.
The article suggests that with the economic downturn, there still seems to be faith levelled at the art and antiques market, that sales remain buoyant and that these readings have been the highest since the initial survey in 2008. An RICS spokesman said:
“We have seen some caution over the last three months as people have waited for the election result and the budget. Attendance has increased, as have prices, perhaps reflecting a lack of goods coming to market as the housing market still continues to falter.”
The RICS survey indicates an increased measure of confidence in the antiques and art market holding up certain subsections of the market which include ceramics, pictures, gold and silver, antique furniture and clocks for special mention. It is predicted that during the next year, demand will exhaust supply where buyers are looking at alternate ways to invest to safeguard their wealth against inflation and tax rises.
Investing large amounts of money in antique furniture needs to be approached with caution however even in a buoyant market place. If you are looking to buy top quality period antique cabinets, Preston antique dealers will be able to advise you on quality, rarity and investment potential.
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