Collectibles used to be the 800 pound gorilla of the antique market. In decades past, all different kinds of people obsessively accumulated massive quantities of tchotchkes, knickknacks and other “stuff.” From the 1950s through the 1990s, housewives blanketed their homes with Hummel miniature figurines, antique crystal and a variety of other shelf-sitters. Their husbands collected coins, stamps or vintage toys. Their young daughters turned their rooms into shrines to porcelain horse figurines or seashells while their young sons avidly hoarded baseball cards, marbles or G.I. Joes.
None of this is the case anymore, with few exceptions. The last 20 years has seen the relentless decline of the collectibles market. Some of this is due to changing aesthetics; the rise of modern minimalism is certainly partially to blame. But that is not the only reason, or even the biggest reason.
The Great Recession of 2008-2009 was a major contributor to the death of the collectibles market. Even today, almost a decade later, we are still struggling with the aftermath of this tragic economic event. Previously unprecedented during the post-World War II era, The Great Recession starved the middle class of discretionary spending money.
While it used to be possible for an average person to stop into an interesting antique store and pick up whatever item struck his fancy, today that extra $20, $40 or $50 simply isn’t sitting in many peoples’ wallet. Most people cannot afford to haphazardly accumulate junk on a whim these days. Now if you’re going to collect anything, you had better know exactly what you want, exactly why you want it and exactly how much it costs.
Another reason for the widespread decline of collectibles is that today’s young people have little to no interest in them. In fact, I would say that some Gen Xers and Millenials even have a visceral aversion to these dust catchers. They grew up with their Boomer parents in a house full of these unnecessary trinkets and consequently find them repulsive.
I fall into this category. While my parents were not exactly hoarders, they certainly came close. They refused to throw away most of what passed through their hands, instead choosing to stash it in endless piles in the attic and basement. My greatest fear is that my house will someday inadvertently turn into a packrat’s nest like my parent’s house. It isn’t surprising that minimalism holds a strong attraction for me and many people like me.
The final reason for the end of the era of collectibles is that younger people today are living in far smaller spaces than their parents ever did. Due to economic circumstances beyond their control, many young adults live in small apartments located in urban areas. Or they share a larger apartment with roommates. Or they own a house, but it is on the smaller side. These spaces simply do not have the scale to accommodate large accumulations of superfluous knickknacks without feeling hopelessly messy and disorganized. The minimalist aesthetic works well in these smaller living spaces, and also helps to keep young people from feeling tied down by too much “stuff”.
Even though I’ve spent the last several paragraphs explaining why collectibles are going extinct, I don’t believe the same is true about the fine art and antiques market. On the contrary, I think that younger people have a deep appreciation of well-made, high-quality luxury items from different times and cultures. Being surrounded by junk most of your life will do that to you.
Anything younger people buy today will be intentional, well-conceived and meant for a specific purpose. This might not be how our parents lived, but this is a far, far better philosophy to follow. Investment grade antiques, with their small size, high-end materials, excellent build-quality and wide stylistic range are perfect for today’s sophisticated, modern lifestyle. The collectibles market may be dying, but that just emphasizes how desirable real investment grade antiques are today.
