NEW YORK, NY.- Furniture design is hot. A new
Online Auction Report from Barnebys, the leading search service for arts, antiques and collectibles, explains how vintage furniture now rivals art as a collectible investment, no matter what the price range.
What is shaping new interest in the market?
Buying design at auction is growing in popularity among interior designers and collectors, as well as in the mass market, says Pontus Silfverstolpe, co-founder of Barnebys, an international online service that helps people search for, compare and buy items from dealers and auction houses around the world. Whether it is about finding vintage pieces at affordable prices or a one-of-a-kind item, interest has never been greater.
Silfverstolpe points to five key trends in the vintage furniture design market:
1. Elevating design
With budding interest from a new, younger audience, vintage furniture design is a rapidly growing market. The design category has evolved to become a common stand-alone feature with auction houses around the world.
2. Knowledge is power
Dealers and auction houses that are curating exhibitions and catalogues and providing more access to information about collections and single designers -- are gaining more attention and a more loyal following than those who have not.
3. Trash to treasure
Collectors tend to favor commercially unsuccessful prototypes rare and unique pieces that never found their way to mass production and often landed in the trash heap.
4. Going, going
. going abroad
Dealers have long capitalized on arbitrage buying furniture locally and selling internationally in major art hubs like New York, London and Paris. Savvy dealers that manage the process of fulfilling international orders will open the market even further.
5. Devoted to designated designers
Barnebys.com has identified 15 designers whose works saw close to 330% accumulated turnover, and market value reaching $42 million. Prices on limited supplies of unique high-end pieces has boosted furniture design to fine art market status.
Barnebys.com data points to 15 designers drawing the most attention in todays auction market. For more details visit Barnebys Online Auction Report 15: Designated Designers, based on Barnebys realized price bank, which consists of 32 million realized auction prices from 315 auction houses from 29 countries.