Deloitte's urge clients to buy antiques now Following a study of data provided by the Antiques Colector's Club, the financial giant concluded that now is a good time to acquire "a proven asset". In a statement to clients issued in August, Deloitte's chief UK economist, Ian Stewart wrote: "We think that the credit crisis could be supportive of antique furniture prices. First, a low return on cash provides investors with incentives to put money into less orthodox assets. "Second, the credit crunch has highlighted the need for investors to put their money into a range of assets. Last year all the major assets – equities, houses, commodities – fell. Antiques are illiquid and they generally avoid the big price swings seen in financial markets." But for Deloitte the best argument for buying old over new is “simply that antique furniture is better made and cheaper than new furniture." Deloitte's conclusion is that "now could be a time to bet against modernism and look into buying a functional, proven asset." Source: Arkell, R., Antiques Trade Gazette, Issue 1903, 22 August 2009, p.1. |
