Furniture can look beautiful and return a handsome profit
CHOSEN WELL, furniture can reward, too
Living with fine furniture can enhance a home but chosen wisely can not only give enjoyment but return a handsome profit.
After more than two decades of falling period furniture prices at auction, the tide may have turned. Lennox Cato, a noted dealer and regular specialist on BBC’s Antiques Roadshow, says, “We are definitely seeing an increase in demand for good antique pieces. Interior decoration seems to be very much going towards the traditional antique look with much colour, pattern and individual character being added to a room.”
This is echoed by London dealer Anthony Outred who says there has been a renaissance in classical English furniture in the past two years, particularly in strong practical pieces, notably mahogany dining and serving tables.
He warns that auction houses tend “to seriously undervalue furniture ( resulting in) vendor reluctance to part with surplus pieces, this creating a shortage of supply.”
Condition, provenance and maker are key to pricing. Major damage can occur from fluctuations in temperature and relative humidity. Fine furniture can survive for centuries in unheated conditions to then have its value cut by a winter or two of central heating. Keep out of direct sunlight.
Years of accumulated wax, dust, wear and ageing combine to create a mellow protective skin, known as patina, which is almost impossible to counterfeit.
Provenance not only establishes the history of a piece but gives confidence to the buyer. If an article has been in a noted collection, a premium is likely.
Four chairs, made in 1778 for the younger brother of Louis XVI who became Charles X, sold at Artcurial auctions in Paris in August. Although they lacked backs or seats, the frames realised £ 1.06m owing to their former ownership.
Where the designer or craftsman can be attributed and is in demand, the valuation can rocket. Often their authenticity is a specific tool such as the adze for cutting and shaping, which was used by several noted Yorkshire makers.
Jane Tennant, of Tennants auction house, Leyburn, is seeing millennial purchasers who are “less averse to buying on the second- hand market than their parents” and who increasingly view antiques as an eco- friendly source of affordable furniture. With a low carbon footprint, made from simple materials and easily resold, “brown furniture beats the likes of imported flatpack furniture hands down”, says Tennant.
English oak of solid construction and a rich patina is currently sought after, particularly if made in the Arts and Crafts style.
Without doubt, the craftsman to seek is Robert Thompson ( 1876- 1955) of Kilburn, known affectionately as ‘ Mouseman’ as he carved a mouse as his signature. Whilst his earliest works and his church pieces lacked this addition, its appearance changed over the years which helps dating and hence pricing.
Besides the other factors, pieces can fetch very different prices owing to decorative carving and quality of wood. For example, two tables of the same date, one from quarter sawn oak and the other from burr oak – the latter is far more in demand.
Early Thompson work commands high prices. Most is consigned from either the family or institution which has held it since commission. A monk’s chair of 1930 made for the Horlick family, founders of the malted drink, in the Thompson’s ledger at £ 6, sold for £ 3,400 at Elstob & Elstob ( 26.4 per cent buyer’s premium incl VAT) in Ripon, in February.
Sotheby’s in 2003 achieved the highest world auction price. A two- section cupboard ( 2.1m x 1.7m x 76cm) from c1923 made US$ 70,000 ( then £ 40,460). It had elaborate ironwork by the Kirbymoorside blacksmith Will Dawson.
Only slightly later, from 192627, Wilkinson’s of Doncaster
( 24 per cent premium incl VAT) sold a pedestal dining table for £ 31,000 in November 2018.
Although Thompson died almost 65 years ago ( December 8), his legacy very much continues.
From his workshop, a pair of oak triple mice bookends sold for £ 1,200 in 2014 and last year for £ 2,400, both at Tennants ( 24 per cent premium incl VAT). A carved Yorkshire rose has increased from £ 320 in 2012 to £ 850 now with the same auctioneer.
In September, Hartleys of Ilkley ( 21 per cent premium incl VAT) sold pieces made where the original prices in 1984 were known. They included:
Oak standing corner cupboard with half penny moulded cornice ( 29 x18 x 74in) £ 983 originally, £ 2,300 now
■ Oak oblong refectory table ( 60 x 34in) £ 567, £ 1,650 now
Oak sideboard ( 60 x 18 x 32in) £ 1,046, £ 3,600 now
Carved birds are popular subjects. A Mouseman pheasant in running pose ( 47 x 26cm) was expected to make £ 2,000- 3,000 at Duggleby in Scarborough ( 24 per cent premium incl VAT) in July but realised £ 6,500.
To show the effects of originality and provenance, a Thompson adzed oak bedside cabinet ( 48 x 75 x 38cm) with a single door panelled with figured burr oak realised £ 4,700 at the same sale. It had excellent provenance as it came with a copy of the original receipt for £ 13.18 to Captain N. L. Barker in 1937.
Arts and Crafts oak of quality from a known retailer is worth seeking.
The noted dealer John Bly recently offered eight high back dining chairs, c1890, for £ 3,850, each labelled Hampton & Sons of Pall Mall East. Bly says such work has “steadily doubled in price
over 20 years.” Many Thompsoninspired craftsmen, often trained at Kilburn, have created pieces which could rise significantly in value.
Stan Dodds worked for Thompson all his life but also ran a small workshop. His pieces include delightful carved rabbits and woodpeckers.
Another carver to find is Peter Heap, the ‘ rabbitman’ of Wetwang near Driffield, who was an apprentice. Hartleys recently sold a nest of tables for £ 680 ( estimate £ 250- 450), stool for £ 460 ( estimate £ 150250) and a bookcase for £ 680
( estimate £ 500- 800), all in oak. David Siddall Antiques, in Slyne, Lancaster, often has Heap stock including a magazine rack, ashtray, bowl and coffee table. He offers a book trough from around 1985 for £ 295 ( 48.5 x 20.5 x 22cm).
Furniture designer Viscount Linley, the Queen’s nephew and known now as David Linley, founded his firm in 1985.
Jonathan Pratt, specialist at auctioneers Dreweatts, said: “The Linley market has exploded in recent years with the brand highly sought after. It is a name synonymous with quality.” The
light, often sycamore, wood and classical George III style fit modern flats as well as country houses interiors. No capital gains tax on profits is liable where the single piece is sold for less than £ 6,000 but is unlikely to catch above as everyone has an annual exemption which for 2020/ 21 is £ 12,300, up from £ 12,000 last year.
Ensure valuations are kept up to date for contents insurance. Use an experienced member of the British Antique Dealers’ Association or LAPADA, founded 1918 and 1974 respectively, or a leading auctioneer.