Stickley Era, the Arts & Crafts Movement

[KenF]

I've heard a lot about how high prices have risen in recent years for A&C pieces. In addition, people have mentioned that prices for lower quality work have risen disproportionately as these more affordable pieces have been bid up simply because they were affordable.

Do you think that this pattern was accelerated by the housing boom? For example, people spent like mad to furnish their homes? Can we expect a slow-down in the collectibles market for A&C in lock-step with the housing slow down?

Also, with credit tight and Wall Street likely to see a lackluster bonus season next year, might this take the steam out of price increases?

My hunch is that we won't see the crazy bidding wars of recent years at the top end, but there will still be lots of people lined up for the more affordable pieces. As has been pointed out, most A&C collectors are not the irresponsible types that use credit to make these kinds of purchases...it’s a more conservative, cash-in-hand crowd.

Thoughts?

[Ray Fleck]

I would think that the soft economy is more likely to discourage the low-end buyers. If your net worth drops from 10 million to 7.5 can't you still afford a $50K chair?

[casequarter]

I think a soft economy hits the middle of the market hardest. Those at the upper end (especially the top) of the market will pay what it takes to get the best pieces. I think we will see less people enter the upper end of the market. Those currently in the middle market may be hit the hardest. They may either stop purchasing or move down market, in which case the lower or more generic end of the market will get a bit more expensive. This will push some out of the market and on to the sidelines all together. However it will likely provide some really good middle market deals.

For me, defining upper, middle and lower end of the market is hard and seems to correspond to whomever you may be discussing it with. Is a $5,000 Gus #332 morris chair with a few issues middle market, upper market? I think it is hard to say, however I think items in the $3,500 to $10,000 price point are in the middle market that is hardest hit.

[Ray Fleck]

I'd call $3500 and up middle market because it's sure above my market!