The Impact of Brexit in European Art & Antique Market
Brexit, the final verdict of the EU Referendum has impacted the every industry in the global order and Art & Antiques industry is not an exemption. The Art & Antiques is an old market and has been active for more than hundred years. With UK breaking away from EU, industry experts are expecting multiple impacts on the market. While some are optimistic about the repercussions, while other are expecting whiplashes. Whatever be the impact, it is certain that a sheer uncertainty is now looming over the industry. On a good note, the recent referendum could bring better tidings for the EU, as Pound may lose its value against the Euro and merchandise brought from the UK would offer better value for money in the European market.
There is no doubt that dealers in both the regions will carry on business with an unchanged mindset after the break. However, the common barriers to the trade that exist between markets of two different nations will certainly have a strong impact. Art & Antique dealers in both the markets would find difficulties in conducting seamless business as in within a free market. In any industry, there is always a group of skeptical investors who retrain to move according to the market. However, the recent breakup in UK-EU, on those adaptable to the change are expected to foster in the Antique market. The industry has been known for being stable for investment purposes, even in a volatile and market specialists are expecting a settlement after this fuss is over.
The Antique market is driven by the urge to keep intact with history and its aesthetics. According to experts, the industry survived the major collapses in the market before and it would survive Brexit as well. For auctioneers, however, the referendum seems to have the least impact. Being the oldest form of commerce it has thrived severe breakdown in the market due to wars and breaking down of economies. It is the reason why Art & Antiques Auctioneers are least troubled by Brexit, even if it will create an economic uncertainty. Online bidding and auctions is a positive aspect that would allow the market to run at its normal mode. Art & Antique market seem to have its own characteristics and its dependent on consumer’ s requirements. The change in European economy would have only a local impact in the market while it would run without any major disruption globally. Also, only the short term consequences of the uncertainty over Pound would have an impact in the European market and the industry will certainly survive it with potential.