Are Antiques A Good Investment? 3 Experts Share Their Thoughts

You stumble upon a gorgeous chest in mint condition at dusty antique shop. It's listed at a can't-pass-it-up price, so you grab it and take it home. The small dresser finds the perfect spot in your bedroom then, one day, you look it up online and realize your $40 find could be worth a sum with a few more zeros at the end.

It doesn't take long to start daydreaming about your future antiquing endeavors. You're wondering if perhaps your path to riches is paved with ornate French side chairs and Federal style sideboards. You'll start spending your weekends scouring markets and secondhand shops for the diamonds in the rough—those pieces you can turn around and sell for ten times what you paid.

But is is that simple to invest in antiques? And is it actually worth it? We talked to three experts who deal in the world of antiques and can speak to the realities of recognizing valuable pieces, evaluating the potential return, and everything you need to learn to make a smart investment.

An Investment You Can Live With

"My motto has always been 'Who needs a 401K when you have antiques?'," says Hirsch, lightheartedly referring to a view of antiques that's reminiscent of Carrie Bradshaw once referring to preferring her money where she could see it—in her closet.

But Hirsch makes a good point. When you invest in the right antiques, she explains, "They are are an investment you can live with and get enjoyment from more than other types of investments."

The key is learning what's a good investment versus what's just another pretty wood chair. She recommends first spending time browsing antique shops, shows, and auctions. "Figure out what speaks to you," says Hirsch. "Then learn all you can about that item or style."

Before you make your first big antique purchase, Hirsch recommends taking several steps to make sure it's a wide decision. First, she advises seeking out expert guidance to avoid costly mistakes. "Until you have spent significant time studying antiques, there are a lot of mistakes—some costly—that can be made."

Then, determine a budget. She explains, "Determine a budget and if its $1000, buy the best thing you can find for $1000." Avoid buying quantity over quality, and steer clear of common items that aren't unique in the market. Value is driven by supply—or lack thereof. "If there are too many available and the economy gets iffy, the first thing people pause buying are luxury items, not necessities," says Hirsch.

Finally, immerse yourself in learning, but try to niche down. Look at reference books, check out collectors' clubs, talk to antique dealers, and put yourself out in the field with these items. "You can read and learn a lot but you'll never learn it all. Pick a period, or a specific type of item and learn all there is to know about that and you'll be ahead of the game," adds Hirsch.

A Piece Of History

The investment in antiques isn't entirely monetary, of course. It's also something that speaks to a larger story and the story that you're continuing to tell. "When you invest in an antique, you are investing in a piece of history, resulting in a unique conversation piece for your home for years to come," says Arthur.

Looking at an antique piece from the perspective of its history and personal significance to your interests separates it from the idea of return on investment, but that doesn't mean you have to forget its provenance entirely. Arthur recommends springing for beautiful pieces that will have a place in your home for years, if not decades.

When thinking about specifics, she loves a clean-lined piece in a beautiful, warm wood, such as a Louis Philippe or Biedermier chest. "These pieces can work in many different spaces as you move through life and store everything from clothing to table linens," adds Arthur.

As you get further into collecting, you'll figure out the styles and eras that you prefer. Arthur recommends looking on websites like 1st Dibs to give you an idea of what's out there and what the price ranges look like. Even if you never plan on re-selling a piece, you want to make sure that price you're paying is fair.

Consider Quality And Sustainability

"Should you invest in antiques? Absolutely, especially when you consider investing in antiques from a quality and sustainability perspective," says Owen, speaking to the inherent benefit of buying secondhand.

As an appraiser, she, of course, believes in the value of antiques, but she explains that a monetary return on investment depends entirely on the the specific pieces and styles someone decides to collect—and that can change over time.

Her recommendation to someone interested in investing in antiques is to become hyper-knowledgable on one particular style. Look at local auction houses and antique stores, and don't overlook the incredible resources that are historic house museums, especially if they're focused on a particular time period that you're interested in. "My personal favorites are the Driehaus Museum in Chicago, IL and Ashland: The Henry Clay Estate in Lexington, KY. These museums allow you to see the furnishings in the environment they were created for."

But, to her original point, that expertise doesn't always translate into continued investing success. Owen explains, "Value does correlate with interior design trends. For example, mid-century modern pieces have been at a premium over the last decade, but you are starting to see this market cool off as people are moving back into more traditional and maximalist design preferences."

However, if you stick to what you love, there will never be a concern over whether your favorite French antiques are no longer the trend du jour. The most important value is the value they have in your home.