1981 George Nakashima Coffee Table Sold in 2006 for $102,000
Modern 20th Century Design. Those objects of art, lighting, and furniture from about 1920 through the present time, continue to be a hot commodity in the collectibles world. This has been the trend and continues to grow as a red hot commodity today, with no let up in sight. Modern Design, is the one area of the collectible world that piques the interest of the younger crowd as well as those who grew up during the time period of these great designers.
My interest in this area of the market was piqued on a visit to a prospective client's home to buy some paintings. Cindy was with me that day, and upon entering, we both noticed the woman's house looked a bit sparse. She soon began to tell us about the modern items she had sold recently, including the metal lamp with little cone shaped light shades, each of a different color. She added that she and her husband paid little for this light fixture at the time they first set up house. Now that she was a widow with grown children and grandchildren, she no longer needed a large home, so she called an auction house to look at her period furniture. A man by the name of Richard Wright came to look at some of her items, and she consigned the lamp, along with several other items to the auction house. To her amazement, that lamp she described to us sold for $12,000. She also sold some of her furniture for thousands, as well.
Furniture, lighting, and art objects from the top designers of this time have been copied, often rather badly, but it is the designer pieces of this time that are considered works of art, commanding top prices in today's marketplace. My client, had consigned her pieces to Richard Wright at Wright Auction House in Chicago's West Loop. And what an excellent decision that was.
No one has changed the world of Modern Design Furniture and Objects of Art as much as Wright Auction House. In 2000, founders Richard Wright and his wife, Julie Thoma Wright opened the doors of their auction business, specializing in items from this period. Their business creativity drastically changed the face of business in this area of the market. Julie Thomas Wright, we are sorry to say, has recently passed away, but it was her visionary ideas for this business that propelled this company forward to become today's standard for Modern Design Collectibles. Today, Wright Auctions is known internationally as the spot to go for the best of these designer items.
Why am I writing about this? There are two reasons. First, for those who are following my book and have joined the 31 Club, dealing in these more rare and valuable items is the direction we are moving toward. You might still be working the lower end steps at the moment, but when you stick with it, continuing to complete each step, soon enough you will find yourself in the position to be buying rare and high end items. Knowledge about these designer items will expand the areas in which you can trade.
Secondly, most of my readers know, as a rule, I don't deal in antique furniture. I'm not much interested in dealing with bulky items that require more than myself to transport, nor do I want to keep the kind of storage space furniture requires. But, I must say, in this case, I'm seriously considering making an exception for some of these fine pieces and the prices they can bring in.
Prices for items by well known designers and artists like Vladimir Kagan, George Nakashima, Ponti, and Paul Evans, can bring in amounts of $40,000 to well over $150,000. You might not recognize these names right now, but I hope you will in the future. If you ran across any of these items in a house sale right now, I doubt you would recognize them, and you'd be passing on a find that could make a big difference in your life.
Find out more about our step-by-step for building wealth in the Antique, Art, & Collectible Markets and the 31 Club, here.
Read more about The Million Dollar Challenge 31 Club members are participating in, here.
If you haven't yet had a chance to see what we've got listed in the 31 Gallery & Marketplace, click on over and take a look. You might even find a real bargain. We've got many high quality items priced reasonably. If you have a high quality piece you'd like us to find a buyer for, why not consign your item to us. No high fees when you sell with us.
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Wright Auction House
Article on Wright and Modern Design from Men's Vogue
Article on Wright from Chicago Magazine