Tavernicus was sat in the Dubai Emirates club lounge on tuesday, en-route to Madras, mulling over the ghost town that Dubai airport has rapidly become. Planes empty as well. Tulipmania, the South Sea Bubble, the dot-com era, toxic debt and now the washing away of the World. All man-made crises built upon mountains of debt, greed and critically the stupidity of lenders. Back in our small world, we are looking for safe stores of value. Beware gold!! Is there a safe haven??
Timing is everything. Traditional antiques have had a long run of declining values, more a function of fashion, such that prices today are not that different to ten years ago. However, reports from Fairs indicate that traditional is doing rather well; such value and yes, green!! Tavernicus attended the dispersal sale of the effects of the late John Fane with many 18th century heirlooms in evidence and evocative of the country house look, once so desirable. Notionally there, at Dreweatts, to view the sale of the tavern clock by Burtt Wade. A very full room, with a raft of phone bidding and live bids from the internet. You should try the latter as it is the way forward, even if frightening the first time you have a go. Bidding for traditional furniture, art etc was brisk and good business was done mostly well above estimates. No bubble to be afraid of.
The Wade was once a great tear-drop tavern clock but it has been seriously impaired by well intentioned repainting. The signature is intact and the clock is mostly genuine. £5500, (inc premium), seems to be the going rate for a clock in need of extensive restoration and remedial work.
In contrast to Dubai, India remains on song. GDP is still growing by about 8% with no credit crunch and a well regulated banking sector. No toxic debt contagion here. A lesson that traditional methods may not have been as unimaginative as some would have you believe. Tavernicus receives the first proof copy of the book tomorrow. Excitement or what!!!
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