Retro Reprice: The Covid Effect
Styling & Photography by House of No Era
"People like you are ruining the vintage market." That stinging comment directed at me on Facebook Marketplace made me pause and reflect. The vintage market has indeed transformed, especially noticeable post-COVID. The pandemic sparked a unique fusion of increased home-focused activities and halted furniture production due to safety measures. This period also saw a rise in people turning to side hustles. Amidst this, influential voices like Vogue Magazine and Architectural Digest declared vintage and antiques mainstream, thus reshaping the market's dynamics.
The stark contrast in pricing is most apparent on platforms like Facebook Marketplace and local thrift stores, where figures have skyrocketed. This trend begs the question of the rationale behind these prices, particularly from Instagram sellers, furniture flippers, and low-frills thrift stores. My experience at an antique mall in the middle of nowhere Mississippi vividly illustrated this point. Amid the sweltering southern summer heat, dusty shelves, and cramped, unventilated spaces, I found items priced similarly to those in my own well-curate and heavily marketed shop, situated within a magazine-worthy space. This incongruity highlights a disconnect; many still struggle to understand the evolving norms of the vintage market, where unpolished, hard-to-navigate spaces are demanding premium prices. Another dealer I visited recently in Dayton, Ohio, with a warehouse crammed with common vintage items like Hallmark and Precious Moments figurines, priced at $35 each, exemplifies the market's shift.
Styling and Photography by House of No Era
“What dictates the perceived value of a luxury shopping experience? Does the platform, be it online, in-store, someone's storage unit or at a flea market, sway your perception of an item's worth?”
This pricing seems overly ambitious. It showcases an emerging trend where even the most commonplace vintage items are fetching premium prices, regardless of their setting, value, or presentation in the market. Goodwill, traditionally a haven for thrifty finds, has also adapted. Their platforms like shopgoodwill.com and their online auction site feature items at significantly higher prices than what we were accustomed to pre-pandemic. This change not only mirrors the broader market's trajectory but also illustrates the changing perception of value in the secondhand goods sector, where previously affordable finds are now premium offerings.
Styling & Photography by House of No Era
“Being a professional in this field means managing costs that go far beyond the initial price of an item. The reality is, acquiring a chair for $100, per se, doesn't mean it costs $100 to sell it.”
One thing is certain: the heyday of thrift hunting is over. As a dealer, it’s now more crucial than ever to establish direct contacts with liquidators, wholesalers, and other industry professionals, as well as with individuals eager to offload their personal possessions, effectively bypassing public second-hand marketplaces. But this still leaves us with the million-dollar question: how should pricing be approached in this new era? This is a common question I hear from newcomers in the vintage resale scene. The answer lies in what the market will bear. What dictates the perceived value of a luxury shopping experience? Does the platform, be it online, in-store, someone's storage unit, or at a flea market, sway your perception of an item's worth? I will say that establishing a brand, building trust with consumers, and creating a valued shopping experience, whether online or in traditional retail, is essential to justify higher prices.
Styling & Photography. by House of No Era
Being a professional in this field, and ensuring legal compliance as a business, means managing costs that extend well beyond the initial price of an item. The reality is, acquiring a chair for $100, per se, doesn't mean it costs $100 to sell it. The pricing reflects a whole spectrum of business expenses and effort. This includes registration and license fees, contributions to city infrastructure through taxes, rent, various insurances, and significant investments in photography, advertising, and marketing, along with the subscriptions needed to support these services. To the feisty man on Marketplace who accused me of single-handedly destroying the vintage resale market, and to others who might echo this sentiment, here's something to consider. While it might seem like dealers like me are the culprits behind rising prices, it's really the changing market dynamics at play. Don't hate the player; understand the complexities of the game!
*Originally posted on January 22, 2024
No Era is an Art & Design house based in Cincinnati, OH, specializing in interior design services, product sourcing, art direction, and fine consignment.
