With trends in the market fluctuating, investment in gold and real estate is cliché. The new trend is to invest on antiques.
Rare items with historical importance grow in value with age just like jewellery. As a burgeoning bunch of yuppies and rich kids rake in the moolah in various fields, many of them are turning to antiques and rarities for investment.
Since metal costs are also increasing, financial advisers too don’t think this is a bad option. In fact some say rare coins, if verified and bought can be a good investment.
There is no systemised market for antique trading yet the economic slowdown has also brought the prices of these items down thus making it irresistible. Be it antique items such as grandfather clocks or vintage furniture, they not only have significance by value but also historical importance connected to ancient clans and races. Omar Lateef, owner of Old Curiosity Shop, says, “IT guys and engineers who are drawing good salaries and have disposable income are interested in antiques.
They are fascinated by gadgets like navigational items, shipping related antiques and instruments. Recently we sold a grandfather clock for 35,000 and many young couples who are just married drop by to get some vintage furniture.
Omar also offers, “Youngsters who want to gift their folks something of value are also opting for antiques. They serve a dual purpouse. They connect their folks with their era and it’s also great investment.” Although the interest seems to have grown Steve Borgia the founder of Indeco hotels says, “Youngsters are attracted to the rustic appeal and the fact that there is value to it. Even when Madras Jail was demolished, several young people came to look at the items.” The multi-hotel owner who also promotes antiques through his curio stores on-site, says, “The real value however is still not understood.”
The younger generation seem smitten by these priceless items, yet how far are they willing to splurge on the same? Spokesperson from Kalpa Druma, Charles says, “The trend has certainly changed now as handicrafts, which are priced at Rs 1 lakh or more are being bought by youngsters.
Normally students do spend around a few thousands in our galleries to buy gift items or articles of their interest.” Times are different and it just goes on to show that younger generation do not just carry the pride of a big bank balance but also cherish historical and cultural values.
