Antiques Restore Investment Returns’
                           
SUNDAY POST  2002

Written by Sarah Loather

Many of us may have seen the TV programme “Lovejoy” about the lovable rogue involved in the antique business, and many of us may have come across Lovejoy characters through the course of our lives.

Increasingly the antiques trade has come across for public scrutiny and derision particularly when we learn that some of the larger international auction houses haven’t been able to tell their George III’s from a very elegant piece of furniture from the various Reproduction Centres across the country.

Some of us are becoming more savvy, questioning evaluators and vendors.  And with people’s confidence in equities shattered, more of us are looking at investing our money in something tangible, which is both useful, beautiful and appreciates in value.

Well last year when I was in Forfar I met the smashingly talented Jeremy Gow who is one of only three members of the British Antique Furniture Restoration Association (BAFRA) in Scotland.  With eighteen years’ experience in the trade, he works for many stately homes throughout Scotland and private clients including the owner of a £55m “gin palace” boat in Monaco.

He took me round his Forfar workshop and really put me through the mill “How old do you reckon this is Sarah?”, “What type of wood is this?” “How much would you pay for this?”  I was clueless, but I was distracted by the masses of fire and water damaged articles Jeremy had been given to restore. Well that was my excuse.

Jeremy is increasingly irritated at the public getting ripped off…. “auction houses have noticed an increasing number of private buyers at sales  over the last five years…people feel they are getting more of a bargain at auctions.  But if you take away something you thought was 18^th century and later find its 19^th century – you have no recourse.  At least at an antique shop you can take it back”.

In fact the auction houses in Edinburgh have noticed a drop off in demand for household sale furniture, but a marked increase in prices and demand for fine ‘investment grade’ furniture.

So, with that in mind Jeremy is starting the first course of its kind in the country dedicated to antique furniture recognition.  “The aim is to give people the knowledge and confidence to invest wisely in antiques, which in many cases outperformed the stock market and to teach them to appreciate fine furniture”.

Jeremy ran three courses at the end of 2001.  Participants ranged from 28-77 years old from the curious to former National Trust employees.

“There are millions of fakes out there in the market”, added Jeremy.  “It’s quite a minefield”.

Three days cost £295 + vat which includes lunch with wine.  The course not only covers understanding wood, dating furniture, learning styles to identifying fakes, but Jeremy promises me secrets of the trade are revealed and tips given on bidding at auction. 

This may be the first of its kind in the country, but I have no doubt Jeremy’s courses will inspire others to run their own courses.  Will this see the demise of ‘Lovejoys’?  I doubt it, so now’s the time to play the ‘experts’ at their own game.