Antiques are not regularly the conventional way of making a living, but they can potentially generate big returns when you know exactly what you’re doing. There are pros and cons to making money by buying and selling antiques. According to financial adviser, Patrick Connolly, “Antiques investments are unregulated, which means investors cannot fall back on the Financial Services Compensation Scheme or any other body if it all goes wrong. They are also illiquid, with few buyers, so you might not be able to sell when you want at the price you want, and transaction costs can be steep.” Nevertheless, consult with an expert when buying antiques as they can be very insightful. So what exactly do you need to know before taking a leap of faith in such an investment?
Buy the ones that you like.
When you buy furniture, only buy the ones that you see yourself with for a long time. This is because the value of furniture will fluctuate, but nevertheless rise. While something you see now may seem invaluable today, it many change over time.
Name Brand Jewelry
Dealers suggests to stick with buying name brand jewelry as they are reputable and have more potential to go up in price. Brands like Van Cleef & Arpels, Tiffany, and Cartier are just some of the few to invest on. This is because jewelry can be unpredictable. For example, pearls used to be a so popular then that that their price went up, however there are new trends that devalued this item fairly quickly.
Heed From Fakes
Buying fakes is such a misfortune. So when you are suspicious of an item being a fake, heed from it until you can get an expert’s confirmation of its credibility.
Restored Furniture
To the untrained eye, furniture that are restored might be overlooked. Such restorations can make or break your invest. This is the part where an expert should be consulted. If there is no one available, try it yourself but be very careful. You are looking for blade marks or machinery use. Perhaps checking with furniture repair Las Vegas shops could help you out with that as well.