Thursday, June 18, 2015

Old money trumps new money

I have finally discovered the key to owning antiques. If you bought something at a garage sale it probably isn't worth any money. It may be valuable to you but it probably isn't worth that much. A close inspection of Antiques Roadshow reveals the source of most wealth. It's coming from old money.

If your grandparents had money and bought nice things and these things are handed down through the generations they will be worth money. That watch or painting or lamp that your aunt bought in 1920 in Boston will be worth money today. That painting your father bought in Paris when he was a G.I. during WW2 won't be worth much today. Parisians sold millions of things to American soldiers during the war. Most of it junk.

If your grandparents bought an original oil painting in Greenwich Village in 1918 it will be worth money today. If your father bought a chair in a flea market in 1980 it probably won't be worth money today. The secret of having nice things is to have grandparents who bought nice things back in the day.

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