Antique and art market shows its resilience

THE most expensive antique ever sold at auction in Ireland and a new record for a Paul Henry painting have been among the antique and art highlights of the past year. The market in Ireland continues to prove its resilience in a changing environment.

Prices, by and large, are low. The value to be had is bringing new buyers, new collectors and more younger people. No one is paying silly money and quality is key as new trends emerge. There is more internet bidding, more social media involvement and some of our more resourceful auction houses have even taken to having catalogues printed in Chinese.

Smaller pieces of antique furniture are much sought after. At art auctions more and more lots are sold above the low estimate, which strongly suggests that there are more bidders in play.

The market for collectibles like Irish silver, Irish glass, European and Oriental porcelain is gaining in strength. Irish silver, in particular, is holding its own as a solid investment option. Jewellery is a hardy annual where well nigh insatiable demand is curtailed only by the shortage of money. Stamps, books, coins and items of memorabilia all featured strongly at sales throughout the past year.

The market for Irish Republican memorabilia is certain to continue to grow in the run up to the celebrations of the centenary of the 1916 Rising.

There are difficulties in the Irish antique market, but insofar as it is possible to generalise it can be said that 2013 has been an improvement on the previous year. It has to be pointed out that The Potato Diggers by Paul Henry which made a record €400,000 at Adams in May was bought by an Irish family living abroad. The Qing Dynasty white jade seal which made €630,000 at Sheppards in Durrow at the end of last November to become the most expensive antique lot ever sold at auction here changed hands after a bidding batter between internet and telephone bidders in Beijing and Jingdezhen.