AS the DJIA and Nikkei are plummeting almost daily to new lows, with the dollar and yen surging as the Euro drops the question of the year seems to be…”How will this affect the antiques market? and in particular the Asian antiques  market”, after all the middle market for Americana impaled itself 5 years ago, after all the now broke pinheads bought houses they couldn’t really afford and now are in even worse shape.  After paying those mortgages little is left after making the monthly Wide Screen Payment and Car Lease for much else. Will the Fed cut interest rates to ZERO? or close to it?

 I digress, So forget about people loosing their houses and jobs, pensions being wiped out, health insurance being cancelled. The people in our industry want to know…”Will the Asian Market remain STRONG!!!”.  The answer is in a word…”Are you kidding? NO! is the short answer for now.”.

Less money means just that, less jobs means less money, collapsing stock markets and failed bank credit means less money.  Don;t you remember the lost decade…? in Japan?? So….try and follow me on this, when there is less money people prioritize spending much more carefully. Here is the order:

1. Housing
2. Food
3. Heat
4. Electricity
5. Cable
6. Clothes for the family
7. Car payments
8. Insurance payments
9. Basic home maintenance
10. Minimum Credit Card payment.
11. Retirement (at age 90)
12. School tuition

and antiques….well its down here someplace…

So, keep reading about that  Kangxi vase, the Qianlong jade animal, maybe go to  http://www.Abebooks.com once in a while and find a bargain.  This too shall pass!

So do I really think things are that bad? NO…not really, Its just good once in a while to get some perspective. I think values for the very best things will continue to rise, the middle market will level off and collectors will collect.  Go to a good museum, enjoy the Asian Art, European Art and whatever else there gets your attention.

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For those of you looking for something to see and someplace to go and you happen to enjoy Asian Art and you happen to live in Indianapolis or St. Louis or within driving distance or EITHER place.   Keep These Dates: Indianapolis Museum of Art (October 26–January 11, 2009); St. Louis Museum of Art (February 22–May 17, 2009).

The most important exhibition of Asian Imperial Art of the Ming Dynasty in many years will be on view.  “Power & Glory: Court Arts of China’s Ming Dynasty” organized by Li He, Associate Curator of Chinese Art of the Palace Museum and Michael Knight, Senior Curator of Chinese Art and Deputy Director of Strategic Programs and   Partnerships. The exhibition has on loan stunningly rare items from the Palace Museum (Forbidden City) in Beijing, the Nanjing Municipal Museum, and the Shanghai Museum, Chinas three most important Asian Art Museums.