The last decade of trading portable second hand goods has seen a number of changes including the use of technology. The increase in leisure time and the volume of television programmes are directly targeted at the Antiques and Collector segments of the market. Designer and refurbishment programmes have added to this increase in awareness of cultural and design history also being held under the banner of House and Home. This combined with new media and the growth of electronic trading has brought the private individual into a market place that previously excluded them. This has motivated the industry to become customer aware and attempt to develop structures in line with other retail practices.
The market has failed like many others in the financial sector; to self
regulate itself though many attempts have been made whilst advising European
and Government initiatives. This failure across multiple industries has brought
about rapid change in the law in the last five years that is targeted to resolve
a number of issues outside the art and antiques trade, including drug trafficking
and the resultant money laundering of the proceeds.
The findings or lack of, show that this long established business has been left to its own devices for centuries. Yet it deals with the world’s cultural property in massive volumes allowing objects of low value that may be of cultural importance to leave the country on a daily basis without issue. The last decade has seen the removal of historic laws that allowed title to be exchanged with little regard for the holder. Whilst at the same time the governments of the world created agreements to protect their own cultural history no matter how it was obtained. This process has taken nearly fifty years to complete at National and International level.
The specialist policing has been reduced to a token level with a handful of officers in charge of the country’s cultural wealth no matter the monetary value. Being estimated to be in excess of six million objects traded each year and an implied level of illicit trade of around twenty-five percent of the volume. The country’s infrastructure and individuals have invested heavily in technology. For some reason suspected to be bureaucracy the tools have not been developed to resolve these issues. The government and law enforcement agencies have placed the onus on the insurance industry and/or private sector to fund and resolve the problem of illicit trade.
The lack of transparency in volume and monetary terms is driven by the
markets traditional cash transactions and a lack of education in diligence and
good business practice. This has created a market-place that can describe the
same object using completely different terms. To a point that although described
correctly the objects cannot be compared in text on a like for like basis without
using expert translation. This itself leads to disputes and the ability for
insurance companies and government bodies to view each issue on a case-by-case
basis. The dominant body will alter the definition in their favour dependant
on the financial or legal benefit without regard for the individual.
The fragmented trading industry is now consolidating to reduce overheads
and administration support for the glut of burocacy that has been placed on
them. There is no central body or organisation to support individuals. Trading
standards are not versed in the expert language used or even a clear definition
of classifying what is an antique. This basic lack of understanding will increase
controversy as the implementation of the price marking order takes place later
this year. This reflects the lack of awareness of laws and the inability to
track objects or even classify them with ease.
Although a number of new technological tools have been introduced, and some market information centralised the market is not a singular collective audience. It is made up from buyers and sellers with specific knowledge of a particular subject, genre or manufacturer. This may create their own individual demand on an object that is being pursued by others on a different level that leads to the markets diversity.