In general, furniture nowadays is a lot more affordable as it is mass produced and mostly is not designed to last a life time. People are usually thrown off by the price of good quality designer furniture, however, one should learn that exceptional furniture should be valued like a piece of art or antique which will show an incredible staying power, looking just as contemporary now as when they were first designed and it will last you a life time or more. Like any antique, rare masterpiece furniture can increase in value if it is unique, first edition, special edition, or very small series.
Never under estimate the potential growth value of a piece of designer furniture as it may double or triple in value if it is in mint condition. Traditionally, most of the furniture collectors are from Europe or the US, but there is an increasing trend of Asians who are slowly entering the market too. Due to globalization, people in general are more well-traveled, cultured and knowledgeable in design. A museum worthy furniture piece can be and should be passed down from generation to generation like a piece of jewellery.
Investment tips for furniture buyers:
- Take your time, do your research, and ensure that you are truly in love with the piece of furniture you are thinking of purchasing as you will be living with it. Like a painting, it is vital to have an emotional connection with it.
- Do not blindly follow the trend, but to think about it as a future heirloom. Consider how the next generation may feel about it and if it will sit well in a future home.
- Make sure that it is not an imitation and it is in good condition. Consider the rarity, provenance, creativity, and the story behind the piece.
- Like any antique or art, be prepared to sit on your investment to achieve good returns.
- If you can afford it, purchase the whole set of furniture as the designer intended for the same home setting. The value of the whole collection may drastically increase in value, if they were the same production number.
- If it is your first time purchasing a museum worthy furniture, seek professional advice about the designer from someone you trust. Find out the designer’s history and if he or she is an originator of a new style.
“Herman miller is a classic. They have a lot of pieces which you can choose from. One of my favourite is George nelson bench which can be used in multiple ways (sitting bench, coffee table, along the edge of the bed)”
Howard Siow
Graduate
M.Arch (MELB) Hons, RAIA
BY Projects Architecture
08/05/2017
