The Appraiser's Archive: The Fine Art Market Struggles as Collectibles Surge
- Danny Triplett
- May 15
- 4 min read
Today's edition of The Appraiser's Archive glimpses into the state of the fine art market and the collectibles industry via two recent developments: New York's marquee art auctions and a market report on the second-hand collectibles industry. We also spotlight an intricate piece of antique furniture as we reflect on our new home base up north.
PERSONAL PROPERTY SPOTLIGHT
We're coming to you this week from our new HQ in the Greater New York Metropolitan Area. As we begin to travel the backroads and discover everything this region has to offer, it has become strikingly obvious how much more prevalent the antiques industry is in New England than down south in Florida — especially when it comes to gorgeous antique furniture! Today's spotlight is a piece we appraised for a client in Tampa before we moved.
The piece is an antique oak Wilhelminian cabinet designed with a mixture of Gründerzeit-Biedermeier styles characterized by German Empire motifs and Neo-Baroque carvings, coupled with a sense of Prussian militarism. Its designs are further blended with geometric French Renaissance-influenced elements, including the pale green lead-glass vitrine window in the center door. The cabinet is accented nicely with matching, solid oak blind doors with period scrollwork/relief. The crowning top attachment is in the form of soft, wave-like foliage.
If that sounded like word soup to you, all you need to know is that it's a beautifully intricate piece with an impressive myriad of styles.
Do you have a potentially valuable item you want to learn more about?
UNLOCKING VALUE: INDUSTRY INSIGHTS
We want to make a quick callback to a story we covered a few weeks ago on the Mediterranean Blue Diamond — a fancy vivid blue, 10.03-carat diamond. After receiving an estimate of $20 million and embarking on a global tour, the dazzling gem was finally sold at Sotheby's Geneva High Jewelry Sale on May 13. It just surpassed its estimate with a final hammer price of $21.5 million.
In other auction news, New York City's marquee auctions kicked off this month. This series of art auctions is held by major houses like Christie's and Sotheby's. Works already sold and planned for sale include those by Mondrian, Monet, Warhol, and more. Pieces come from the collections of notable estates, including one of the most anticipated consignors of the season — the estate of Leonard Riggio, founder of Barnes and Noble. These marquee auctions are taking place in the midst of a high-end art slump, and the sales so far are no exception to this trend. Auction houses have already guaranteed a number of their lots, meaning they ensure a minimum sale price to their consignors regardless of bids (typically done when expectations are low).
While the auctions have already seen difficult lows, including the surprising failure to sell the Giacometti bronze bust Grande tête mince, one notable lot that far surpassed its estimate was a double-pedestal Frank Lloyd Wright lamp. The iridescent lamp, commissioned for an Illinois home also designed by Wright, fetched nearly four times its 2002 sale price of $1.98 million by the time the hammer fell. The $7.5 million sale turned heads following an 11-minute bidding war. We hope to see more of this excitement as the auctions continue!
THE PROFESSIONAL'S CORNER
We're taking a break from the barrage of estate tax news this week to address a different kind of professional than we normally do: our fellow members of the antiques and collectibles industry. Research and Markets recently released their 2025 Market Research Report on the Second-hand Collectibles Market. While the fine art industry has seen better days, the trajectory of our industry is looking a bit brighter:
"
This rapidly expanding market is fueled by a rising preference for sustainable consumption, heightened awareness of the circular economy, and the growing demand for unique, affordable items that also offer environmental benefits. As consumers become increasingly conscious of waste reduction and sustainability, the second-hand collectibles market has gained significant traction, appealing to both seasoned collectors and new-age shoppers.
"
With a 2024 value of $142.5 billion, the market is expected to grow at a rate of 6.40% over the next ten years, reaching a value of $248.9 billion by 2034. The report notes that the increased accessibility of authentication and appraisals for antiques and collectibles continues to fuel the growth of the industry. If you're looking to begin or expand your career as a dealer, appraiser, curator, auctioneer, estate liquidator, or anything else in this industry, it's a great time to dive in!
With economic uncertainty only driving demand for second-hand items, it's also crucial to identify and protect your or your client's valuables. Reach out to learn how a certified personal property appraisal can help safeguard your antiques and collectibles for years to come.
Subscribe to unlock expert personal property insights, unique appraisal spotlights, and more. Lands in your inbox every other Friday.
