Antique furniture sales are on the rise amid inflation, supply chain issues
Antique furniture is hot again as inflation and supply chain issues push people to consider their purchases carefully
{{#rendered}} {{/rendered}}With supply chain issues continuing to pose a problem for many Americans, scores of people are turning to antiques to furnish their homes.
The Bureau of Labor Statistics reports that inflation reached a 40-year high in March, rising to 8.5% annually. Consumers have been sharing their worry in multiple forums about rising gas, food and energy costs.
As with so much else, furniture prices in stores have been rising — but instead of spending more money on brand-new pieces, people are turning to items that were lovingly crafted decades ago.
{{#rendered}} {{/rendered}}Not only are antiques budget-friendly in many cases — they also give a unique look to virtually any room.
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In addition, there has been an increasing turn toward sustainability for many consumers.
{{#rendered}} {{/rendered}}Cinderella White, general manager at Antique Up in Stevens Point, Wisconsin, said the increase in her shop's business is due to the current political and financial climate. She said it's made people start looking into pieces that they know will last over time.
This image released by Kyle Caldwell Photography shows a dresser refinished with paint and wallpaper from Mary Maloney of Bee’s Knees Interior Design in Hopkinton, Mass. Maloney reawakens old wooden furniture by painting it in cheery hues; she also often applies patterned papers. (Kyle Caldwell Photography via AP)
Environmentally conscious buyers are averse to throwaway furniture, the Associated Press also reported — so many people are trying to reuse and recycle.
For all of these reasons and more, antiques sales are up across the board.
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Lance Thomas, lead designer at Thomas Guy Interiors in Lake Charles, Louisiana, said different areas of the country seem to lean toward certain antique styles.
"For example, in the South, where I’m based, French antiques are most coveted because of their historically French heritage," Thomas told the AP.
{{#rendered}} {{/rendered}}This image shows a living room by Georgia Zikas, a designer in West Hartford, Conn. Designers say vintage pieces can work well with any style and go nicely with modern ones. (Jane Beiles Photography via AP)
"Coastal cities like West Palm Beach in Florida, and Malibu in California, gravitate toward vintage and antique Italian contemporary pieces," he also said.
When purchasing antiques, Thomas advised others to trust reliable auction sites but to proceed with caution.
As always, buyers should personally inspect the antiques they are interested in and ensure they are getting a good deal.
"There are some very good fakes and reproductions that would fool even the most experienced buyers," he said.
{{#rendered}} {{/rendered}}Antique buyers can also pursue opportunities for items through Facebook Marketplace, Craigslist and consignment stores.
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As always, buyers should personally inspect the antiques they are interested in and ensure they are getting a good deal.
{{#rendered}} {{/rendered}}This combination of two photos shows a disassembled wood cabinet, left, and the cabinet refinished with white paint and brass hardware, featured in the book "Probably This Housewarming: A Guide to Creating a Home You Adore," by Beau Ciolino and Matt Armato. (Beau Ciolino via AP)
Just as with the trend of house flipping, "furniture flipping" is also becoming popular among buyers.
Many people will buy a piece of furniture with plans to completely change the look of it. This winds up making the purchase more cost-effective than buying something brand new, plus it's a fun activity to DIY a new piece for the home. And some people sell their refurbished piece for profit.
The item, made of oak, was stuck in the back of the previous owner's garage.
Mary Maloney of Bee’s Knees Interior Design in Hopkinton, Massachusetts, said she still cherishes her first antique purchase, a dresser she bought over 40 years ago.
{{#rendered}} {{/rendered}}MAN FINDS HIDDEN ATTIC IN NEW HOUSE FULL OF VALUABLE ANTIQUES
That appears to be true to form for other people as well. A woman and her husband in the lower Hudson Valley of New York purchased a sofa table many years ago at a yard sale in their town.
The item, made of oak, was stuck in the back of the previous owner's garage, the woman reported. To this day, decades later, it still occupies a prominent piece in their bedroom.
{{#rendered}} {{/rendered}}"We just loved it — and never planned to buy anything like it. But once we spotted it, it captured our hearts and we wound up taking it home."
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She said they can't part with it even now and probably won't any time soon.
{{#rendered}} {{/rendered}}FOX Business' Kelsey Ramirez and The Associated Press contributed reporting to this article.