The industry often puts out data on millennials making consumers think they want to live as minimalists or live with parents forever. The reality is that millennials are the biggest group of consumer home buyers. There are also articles online that claim millennials don’t buy antiques when in fact they are decorating with antique furniture and fine art while using antique appraisals to build personal wealth.
Data on Millennial Home-Buying
According to the annual Home Buyers and Sellers Generational Trends Report from the National Association of Realtors, millennials are the strongest home buying group since 2014, including younger millennials between twenty-two (23%) and thirty and thirty-one and forty (14%). The data is promising as to home buying, but what about the décor trends they are choosing to decorate their homes?
Are Millennials Buying Antiques?
Recently, an online article stated millennials are not interested in buying antiques. According to our experts at Manzi and the business experts at Forbes, millennials supporting sustainability is triggering a buying trend in the antique marketplace. Millennials are all about saving the environment, reducing personal waste, and being thrifty, so it makes perfect sense that they want used goods rather than new ones.
One of the fascinating things about millennials is that their buying trends show they want hard-to-find furniture pieces and more than six in ten say that style and uniqueness are most important to them when choosing vintage and antique home furnishings and décor. They also prefer used, dated antique pieces that have a homey feel rather than buy new decorative embellishments that are too commercial.
Colonial furniture has been on-trend for a century, but in New England, millennials are looking specifically for 17th and 18th-century furniture makers, especially those from Massachusetts like as Thomas Sherburne, Nathaniel Gould, Jacob Carter, and Daniel Munroe who were quite popular creators during the American Revolution and whose works are often on display today in the top American museums.
It is not unusual to find millennials shopping online for antique furniture and decorative arts, but they are also searching at used vintage shops and estate sales as people are inheriting high-priced family heirlooms. This is one of the perks of having an experienced appraiser on your side as we not only provide antique appraisals, but we do the research, gather information, and guide clients through sales.
To Learn More About Antique Boston Furnituremakers, Visit the Colonial Society of Massachusetts Here
How Millennials Are Building Financial Portfolios Using Antique Appraisals
One of the other things millennials are doing is building their financial portfolios through antique acquisition. Assets of value can be used to leverage to get credit or as collateral for loans. For this reason, buying personal property such as antiques, fine art, or decorative art is considered a savvy business move that allows millennials to get started earlier on with homeownership or other personal pursuits.
Manzi can help you get started today by calling our office at 617-948-2577 or by visiting our Facebook page at https://www.facebook.com/ManziAppraisers/ to set up an appointment or make inquiries.