If Lawyers & Courts Have Their Way, The Answer Could Be Yes New York - In a captivating legal case currently being adjudicated in the French justice system, questions are being asked about whether individuals who've sold antiques or artworks later determined to have a significantly higher value can seek additional compensation over and above the original sale amount. The case revolves around an unnamed eighty-one year old woman and her eighty-eight year old husband, who stumbled upon an African mask while clearing out their vacation home. As the couple sorted through their belongings, most of which were destined for a garage sale, they decided to put aside an African mask and sold it to a local antiques dealer for a seemingly modest sum of €150, equivalent to approximately $157, in September 2021. However, several months later, while perusing their local newspaper, the couple was taken aback by the revelation that their once-unassuming mask had just fetched a staggering €4.2 million (approximately $4.4 million) at an auction in Montpellier for African art. From the auction records it was revealed that the mask was in fact an especially rare example of a Fang mask used in certain secret African rituals, and came with a fascinating history, having been brought back from Gabon by the husband's grandfather, a colonial governor in Africa at the beginning of the twentieth-century. With a growing sense of injustice, the elderly couple decided to take legal action against the antiques dealer who had purchased the mask from them. The core of their argument centered on the suspicion that the dealer had a much better understanding of the mask's true worth when he acquired it. The antiques dealer, for his part, did not put the mask on display in his shop. Instead, he sought appraisals from two auction houses, Drouot Estimation and Fauve Paris, which estimated the mask's value to be around €100–€120 and €400–€600, respectively. However, the dealer's decision to seek a third opinion from a specialized auction of African objects in Montpellier was a game-changer. After subjecting the mask to carbon-14 dating and mass spectrometry analysis, it was dated to the 19th century. An ethnologist's expert appraisal revealed its use in purification rites by the Ngil society, a secretive group within the Fang ethnic community in Gabon until the 1920s. The auction house subsequently placed the mask for sale with an estimated value of between €300,000 and €400,000, ultimately selling it for a remarkable €4.2 million. The couple's legal team believes that the sale should be canceled due to their honest misunderstanding of the mask's true value. The case draws parallels with other instances where owners of artworks have sought restitution after misattributions were corrected, as seen with paintings by Nicolas Poussin that were initially attributed to lesser-known artists. The legal battle has already gone through several stages, with the antiques dealer initially offering a settlement of €300,000 (approximately $315,000) to the couple, which they rejected due to their children's opposition, as revealed in court documents. The couple proceeded to file their case in a judicial court in Alès, seeking an injunction to seize the sale proceeds along with damages. A protective seizure was authorized by the Alès court and implemented by a bank in southwestern France. However, the lower court later ruled in favor of the antiques dealer, returning the funds to him and ordering the couple to pay him damages and other fees totaling €3,000 (about $3,148). Unyielding, the couple appealed the judgment to the higher court in Nimes in November. The ongoing legal dispute underscores the complexities of decorative art transactions, the responsibilities of buyers and sellers, as well as the evolving nature of valuing cultural artifacts. As the case continues to move forward, the appeals court in France has once again ordered the seizure of the sale proceeds, totaling €3.1 million, until a final judgment can be reached. David Rabinovitch, a New York based lawyer whose firm specializes in high-end contractual sale agreements related to the decorative arts, believes that the case now unfolding in France could have a far reaching impact not only in Europe but in the U.S. and Canada as well. "It's obviously not precedent setting for us," says Rabinovitch, "but there's no doubt that judges will at least look to examples like these for input and direction when it comes to their own cases." Rabinovitch thinks the outcome of this case could also have a broader effect on the responsibilities and obligations of antique dealers and art market participants from around the world, further highlighting the fine line between someone scoring a deal, and someone ending up in a lawsuit. "We read about these great largesse finds happening all the time," Rabinovitch says, "but what about the more pedestrian examples of someone selling a houseful of Mid-century modern furniture for twenty-bucks... are they now entitled to a share of the dealer's profits as well?" Rabinovitch thinks that we'll end up having to draw the line somewhere, but that it will likely come as a series of court judgments first before anything else truly gets resolved. "It's just a matter of time,' he says, "all industries eventually get regulated to some degree." - A.I.A. Staff Writers NOTE: For readers seeking more information about the Asheford Institute Of Antiques distance-learning program on professional-level appraising, the study of antiques, collectibles, vintage and mid-century modern, please click here to visit the school's Home Page. Should you have additional questions about the Asheford program, you can also write to the school at: info@asheford.com or call the Registrar's Office toll-free at: 1-877-444-4508. The sustainable eco-generation wants you to know they're in it for the long-haul New York - For Janie Roan, the 4 a.m. start time was all part of the bargain as she trundled out of her Brooklyn based apartment in the hopes of making it to Maine by opening time for one of the state's annual fall antique and vintage fairs. "There's a beautiful butternut chest of drawers being offered by a dealer up there," said Roan, "that's hopefully still going to be there when I arrive." Roan certainly isn't unusual in her early morning quest for that perfect piece of furniture, but what is unusual about this particular scenario is her age and previous interests as they relate to the decorative arts. Growing up in Brooklyn, the 28 year old says that in the past her primary source for decorating often involved a trip to Ikea or Crate & Barrel. "Flat-pack furniture was just part of my generation," says Roan, "but somewhere along the way, it just started to shift and align with my ideas about sustainability and creating a living space that felt warm and cozy rather than austere and cold." Prioritizing her belief in a balanced socio-economic future, Roan says that her discovery of buying 'old and used' items came to be somewhat revelatory. "I simply had no idea there were so many unique designs and pieces from the past that were out there and still available for purchase," she says, "it was almost like the lifting of a veil." While Roan's personal collection has grown over the past few years, she also acknowledges that many of the items that are of interest to her today are becoming harder and harder to afford. "Five years ago when I first started searching for antique three-drawer chests, they were cheap, very cheap," she says. "Today, that butternut chest I was chasing would have likely been gone before noon if I hadn't gotten there early." Roan adds that with many of her friends now accompanying her on the early morning upcycling adventures, it's become both a boon and a bane for her collecting passion. "It's great that we can all share a ride together," she says, "but my friends are also the one's helping to drive up the prices." Many dealers in major urban centers are likely to concur with Roan, as prices have been escalating quickly on almost everything from Early American rustic to even semi-ornate Victorian pieces. Jonathon DeVries a long-time dealer from Newport, Rhode Island, who frequents and displays at antique shows up and down the Atlantic coast, says that he's witnessed an explosion in interest and prices over the last three or four years that he attributes directly to a younger generation. "It's even younger than the millennials," he says, "we're getting kids in their early twenties who are becoming primary buyers." DeVries thinks that while millennials may have started the trend, it's definitely Gen-Z's who are moving the ball forward today. "Things like Pyrex and Corning Ware dishes, that we used to give away, have recently jumped up in value so quickly that we're not even sure what to price it at anymore," he says. However, it's not a straight across-the-board value increase for everyone acknowledges DeVries, with some of his dealer friends inventory still languishing at the end of shows. "If you're trying to sell giant over-sized Victorian pieces to the younger generation living in apartments or condos, then you're going to be missing the boat," he says, "but if you stick to the smaller items like washstands and side tables, they'll move quickly." Henry McDavid, a young dealer from New Hampshire who now specializes in antique spool furniture, says that he started in business as a 'picker' when just out of college in his early twenties. "Heading out of 2010 probably wasn't the best of decades for antiques, that's for sure," he says, "but one thing that was great about that time was the price." McDavid quipped that he could literally buy out-of-favor items like Victorian and early spool furniture for pennies on the dollar, and in many cases for free as long as he agreed to haul it away. "It's astounding to think," he says, "because today, I can't keep these pieces in stock." McDavid acknowledges that even items like odd sized spindle beds that require specially sized mattresses are usually spoken for long before hitting the showroom floor. "I'm lucky that I had sufficient storage to keep these pieces for a later day," he says, "but in reality, it was also just good timing that a younger generation came along and were interested in this kind of stuff." McDavid says he's long been trumpeting the news that buyers are much younger now than before, and seem to be more aggressive when it comes to getting what they want. "Five years ago people were making lowball offers or asking for a markdown, today it's a bidding war, and they're usually under the age of thirty." While McDavid's listing prices on his spool-themed website have risen sharply in recent months, he's also quick to point out that that it won't take long for source sellers to start raising their 'asking' price. "I was ahead of the curve," he says, "but I doubt those same folks will be letting me haul it away for free again." Nostalgia is in says Emily Harris of the collectors co-op, a loosely knit group of store owners on Etsy that come together to share tales of buy-and-sell stories with the intent of targeting specific offerings to prospective clients. "It just keeps getting younger," says Harris, "we're almost solely concentrating on online buyers in their mid-thirties and below now because that's who's driving our sales." Items like wall, chandelier, and furniture-top lighting are all seeing steep price increases due to demand says Harris. "We're buying from salvage yards, home-reno companies and more, and we still can't keep pace." While Harris says she's happy to ride the skyrocketing values, she wonders when the rising price-point on vintage home décor is going to peak. "It's not really sustainable," she says. "I'm seeing young people paying upwards of four times for an item that I had listed for a quarter of that price only a year ago." Harris believes the post-pandemic need for a world that's more comforting and inviting, rather than minimalist and modern is at the root of the younger generations 'buy-old' craze. "I think the pandemic maybe showed just how vulnerable our modern world was," she said, "and why those ties to the past can be so enticing." If anyone has need to question who the new demographic is when it comes to the decorative arts, then look no further than the world famous antique and vintage market at Brimfield, says Don Smith, a semi-retired dealer who notes that in his estimation, the attending crowds at Brimfield have turned from mostly blue-hairs and hats in recent years, to inked and ear-budded. "I've been attending, and sometimes showing for over thirty-years," says Smith, "and I've never seen so many youngsters clogging the aisles and booths." Smith isn't alone in his estimation either; David Orr, who's also a regular at Brimfield, and writer at large for a number of decorative arts publications, says that you can see the influence of this generation in the offerings. "Things that weren't even thought of as being collectible just a few short years ago, like 1980s homewares, are suddenly demanding exorbitant prices now - even by show standards." Orr says that he's interviewed numerous 'progressive' dealers from this year's show recently, and they all tend to tell a similar story, "Prices are good, very good." Adding to this, many young dealers are also reporting that hot and in-fashion used furniture websites such as Chairish and Kaiyo, are also helping to up the price-points on antique and vintage goods by making it easier for people to see that their mother's old Formica kitchen table from the 70's, might actually be worth more than a simple donation-receipt from the local thrift store. Sites like Craigslist are even showing higher priced comparative examples from other websites, when you search their site for a similar item. When all of this is combined say dealers, it's going to push up prices. Scott McAdams, who works for one of the largest flea markets on the west coast, says that most of his dealers are young and extremely tech savvy. "They'll show prospective customers what something is worth on their phone or laptop so they can compare prices to online sites instantly." McAdams notes that it's not just the dealers who've become younger at his venue, but also the attendees. "What's funny," he says, "is that despite the technology use, the prices aren't going down, but up, way up." For many in the business though, rising prices (even inflated ones), are a welcome relief, and hopefully a portent of a return to a long and secured stretch of interest and pricing in the world of antique and vintage decorative arts. While some may lament the uncertainty that comes with such price hikes, if Janie Roan's passion for her butternut chest-of-drawers is any indication of that generation's long-term interest, then there's also a decent chance the rest of us in this industry are going to be in good hands for some time to come. - A.I.A. Staff Writers NOTE: For readers seeking more information about the Asheford Institute Of Antiques distance-learning program on professional-level appraising, the study of antiques, collectibles, vintage and mid-century modern items, please click here to visit the school's Home Page. Should you have additional questions about the Asheford program, you can also write to the school at: info@asheford.com or call the Registrar's Office toll-free at: 1-877-444-4508. According To One Expert It's Already A Fait Accompli New York - While tech giants and government officials may currently be debating Artificial Intelligence's (AI) largescale use and application amongst the world's citizenry, for people like Cameron Newley, it's AI's influence on smaller more niche related industries, such as the decorative arts, that has him contemplating some potentially significant marketplace changes that could result from this evolving technology. As a longtime researcher and technical collaborator who's worked within the field of Artificial Intelligence for over ten years, Newley says he has a unique perspective on how this burgeoning technology may end up affecting the antique and vintage community in years to come. While his area of academic credentials upon first glance may appear to lie in more scientific pursuits, Newley acknowledges that his real joy and passion comes from collecting and selling antiques; especially Victorian oils and watercolors along with early Art Nouveau posters. "I'm a collector at heart," he says, "my family was in the business, so dabbling in antiques and selling on-the-side has always come naturally to me." However, Newley also concedes that he's put some considerable time into analyzing the potential relationship between AI and the decorative arts over the past few years, as a natural twinning of his professional and personal interests. "There's no question that Artificial Intelligence is going to revolutionize the antique and vintage industry in various ways," says Newley, "from reshaping the way collectors, sellers, and enthusiasts interact with historical artifacts, to profound effects impacting authenticity assessments, pricing, market accessibility, and even conservation efforts." One of the most significant impacts of AI that's going to happen within the antique and vintage community says Newley, is likely to be its role in authenticity assessments. "AI-powered tools and machine learning algorithms can now analyze images, historical data, and item descriptions to identify genuine pieces from reproductions or fakes." Newley believes this will help collectors and sellers make more informed decisions, reducing the risk of purchasing counterfeit items. "AI can detect subtle details that are difficult for the human eye to discern," he says, "such as variations in brush strokes on a painting or the intricacies of a piece of antique jewelry." As a result of these advanced algorithms, Newley thinks it will eventually make the antique and vintage market a more trustworthy and secure space from which to conduct business. Another consideration that Newley believes will factor heavily into AI's future role within the decorative arts market relates to pricing. For many in the industry, including himself, putting a price on antique and vintage items has always been somewhat of a challenging task, influenced by factors such as rarity, condition, and historical significance. However, Newley notes that the latest AI algorithms can now process vast amounts of historical sales data and market trends to provide more accurate pricing recommendations almost immediately. "Collectors and sellers will be able to leverage AI-powered pricing tools to determine fair market values and set competitive prices for their items." he says. "This will not only benefit individual buyers and sellers but should also contribute to the overall transparency and efficiency of antique and vintage markets in general." Another interesting facet that Newley revealed from some of his latest research was the improved online market accessibility related to searching for various genres or items grouped under the general decorative arts heading. "Online platforms and marketplaces use AI to curate personalized recommendations for collectors, suggesting items that match their interests and preferences," he says, "These recommendations are based on a user's search history, previous purchases, and browsing behavior." All of which, according to Newley, when aggregated together, and then applied using a new set of algorithms, have enhanced most users overall browsing experience, making it easier for collectors to discover new items and expand their collections. However, it's not just the browsers that are advancing says Newley, while most of us are familiar (and quite likely frustrated) by online Chatbots that promise to help in lieu of an actual person, Newley says that those days of souless-conversation boxes will likely be coming to an end shortly, as the latest batch of online Chatbots are now being heavily infused with AI abilities, making them much more than just a customer support automaton. "AI-driven chatbots and virtual assistants are increasingly being used to provide detailed and complex answers to customers," says Newley. "These AI-powered tools will be able to assist potential buyers in their inquiries, offer historical context about antique pieces, and even provide information on similar items that may be of interest." Newley feels that this will inevitably make the antique and vintage market more accessible to a wider range of potential buyers who may not have had any previous or specialized knowledge in the field. "It's a way to give customers a lot more instant, and in-depth information related to a pre-purchase than they ever had before" he says. Finally, Newley believes that conservation efforts within the antique and vintage industry will also benefit from AI technology, as it will be able to assist in the restoration and preservation of historical artifacts. For example, AI-powered image recognition will help conservators identify damaged areas in paintings or sculptures and suggest appropriate restoration techniques. Additionally, AI can also aid in the analysis of materials, helping to determine their age and origin, which Newley says is crucial for preservation efforts. However, while AI brings numerous advantages to the antique and vintage landscape, it also raises some challenges and concerns, says Newley. "The overreliance on AI for authenticity assessments, pricing, and market recommendations may lead to a reduction in human expertise and judgment" he says. "Collectors and sellers need to be cautious and continue to value the insights of accredited experts within the field." Additionally, Newley believes that there are also some privacy and ethical considerations surrounding the use of AI within the decorative arts community. The collection and analysis of user data to make personalized recommendations raises questions about data security and consent. "It's essential for companies to address these concerns," he says, "to ensure that the use of AI technology is being implemented in a responsible way." In the end, Newley believes that Artificial Intelligence is likely to have a profound and lasting effect on the antique and vintage industry; impacting authenticity assessments and pricing, along with marketplace accessibility and conservation efforts. While Newley feels that these changes will no doubt enhance the overall efficiency and accessibility of the antique market in the long-run, he also acknowledges that it's likely to bring challenges related to human expertise and ethical considerations. "We have to be mindful of the fact that just as Artificial Intelligence is going to evolve, so must we in the decorative arts as well." - A.I.A. Staff Writers NOTE: For readers seeking more information about the Asheford Institute Of Antiques distance-learning program on professional-level appraising, the study of antiques, collectibles, vintage and mid-century modern, please click here to visit the school's Home Page. Should you have additional questions about the Asheford program, you can also write to the school at: info@asheford.com or call the Registrar's Office toll-free at: 1-877-444-4508. |
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April 2024
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