The world seems to be in flux; AAA rating gone, Italians vote
for a comedian with a record of manslaughter and UKIP beat the conservatives in
Eastleigh. The fiscal cliff in the USA is not averted and politicians in the
west are just paralysed with the debt legacy binge which they have no courage
to deal with lest they end up losing to a comedian.
Some things however do not seem to change. The annual survey
of antiques published by the Antiques Collectors Club, known as the Antique
Furniture Index, initiated in 1968, has continued to show falls in values. The
rot set in in 2002 when the index peaked. Every year since has shown a decline
and the 2012 result, (-3%), is now at the index level of the mid 90’s. In plain
English, practically any antique furniture purchased after 1995 is now worth
less than its purchase price.
Of course the Index does not apply to all antiques and clocks
are not specifically included. As with all averages there will be exceptions
and there will always be sub-categories which buck the trend. Golden Age
clockmakers would certainly be an exception. Reading the few specialist clock auction
catalogues, one can easily become maudlin as longcase clocks appear to be at
their nadir with many estimates for run of the mill lots at around
£500. However museum pieces, particularly those with a Chinese connection continue to surprise.
In the tavern clock world practically every lot auctioned in
2012 failed to excite as the quality just was not there. The spectacular and
singular exception was the early shield dial auctioned by Bonhams in December.
Made by Gabril Holland in around 1740 this was an unrestored example which the
trade loves. Not without its faults, but a very desirable example, it was sold
for a stonking £23000, including commission. Compare that with the more typical
auction prices of £3000-5000 and it is clear that averages never tell the
entire story. There is no substitute for specialist knowledge. For more
information on tavern clocks auctioned in 2012 go to www.tavernicus.co.uk and follow the Forum link to
auctions; over 30000 hits to date.
It is to be hoped that the Holland result will “encourager
les autres”; poor auction results are self-perpetuating as the quality lots go
to sleep with sellers sitting on their hands until better times. Some people
have been sat on their hands for ten years as values continue to fall.
Hopefully a few great lots will now emerge to excite us, failing which we can
continue to follow the unrelenting scenarios going on all around us which would
be comic if they were not so tragic.
