High Demand, Scarce Quantity Drive the Market for Art Deco

Art Business News, Sept, 2001 by Jessica Lyons

As the world forges ahead in the 21st century, galleries and collectors are turning to Art Deco for its sleek, futuristic styles

Gallery owners say they've seen the future. In paintings, posters, jewelry, furniture and other objects d'art, that future is Art Deco. In the late 1990s, trends turned toward straight lines and simple designs, and art collectors, investors and even homeowners looking to decorate turned towards Art Deco. Its sleek, futuristic styles and strong optimistic images of humanity and technology originally grew in popularity parallel to the industrial and information ages. Today, 60 years later, as society sees another climb in technology and industry, Art Deco is once again in vogue.

"Everything Art Deco is selling well because of the simplicity of the design," said Walter Gonzalez, manager of Valerio Art Deco in Miami. "Art Nouveau is more elaborate and heavy looking. It sold better during the `70s and `80s. Art Deco, on the other hand, can fit in with any style, especially with the recent trend of going with simple lines and simple decor."

Nicky Brewster, president of I. Brewster & Co. Gallery in Philadelphia, said that over the last three years, interest in all things deco has skyrocketed. "[Louis] Icart and Art Deco posters are selling like crazy--we sell 50 every week. People like Art Deco whether they are young or old, rich or poor," he added.

"[Poster artists] Leslie Regan and Morrer are gaining popularity, and American railway posters are increasing in popularity as well," said Jack Rennert, president of Poster Auctions International and Posters Please Incorporated of New York. In October, Rennert will open a new, 10,000 square foot poster center and auction facility--the largest of its kind in the world.

The opening exhibition will feature more than 500 Art Deco and Art Nouveau original posters. "I would say younger people seem to prefer the more hard-edged deco, while middle aged and older collectors seem to prefer the more decorative, fashionable Art Deco," said Rennert.

While people of all ages and income brackets may appreciate Art Deco, only those with money can afford the real thing, according to most Art Deco dealers. As with all things vintage, demand is high, supply is scarce, and it is becoming more scarce every day as existing pieces are gobbled up by wealthy collectors. While Art Deco enthusiasts do run the gamut, the typical buyer is 35 or older and comes from new money--likely made in technology firms before the market crashed.

"In the last three years, prices have risen 25 to 30 percent due to scarcity and high demand. It's hard to find originals," Gonzalez said.

"Deco has gotten out of the range of most younger buyers," added Rich Cieslowsky, owner of Cincinnati's new Treadway Gallery. "A lot of Deco furniture was made out of metal and was melted down for aircrafts and weapons in the war." As a result, Art Deco chairs--resting low to the ground with high backrests and rounded arms--are selling well but are also getting harder to find, according to Cieslowsky. Most original pieces won't see the light of a gallery because "it's not making it out of grandparents' basements because the grandkids are taking it."

Deco's Timeless Elegance

Publishers, gallery owners, appraisers and artists alike agree that much of Art Deco's staying power must be attributed to its elegance.

"There's a universal appeal of this established and well-loved art mode," explained Chalk and Vermilion Fine Art's Eric Danneman. "It is always elegant and fashionable and it never goes out of style. It is easy to incorporate into different types of decor and lifestyles, and it is not so iconoclastic that it requires its own museums to be appreciated properly."

Even the general public who doesn't ask for Art Deco by name can appreciate its straightforward objects and sunny enthusiasm.

"People have responded strongly to Art Deco since the very beginning. And the response hasn't diminished," said Dieter Raoul Saner, owner of Dieter Raoul Sauer Posters in Laguna Niguel, Calif.

Due to the scarcity of originals, limited edition reproductions are finding an audience among collectors. "There is only a limited number of originals available, and sometimes they are unattainable. A great number are found in museums, so top galleries can't get their hands on the original," Sauer said. "We work with museums in Europe and specialize in picking these kind of images for lithograph reproduction. They sell very well."

"Art Deco is very much alive and well," said Mark Schachner, c.e.o. of Erte Enterprises. "Youngsters love it, middle-aged people love it, old-people love it--and everybody seems to love Erte."

According to Schachner, Erte bowls vases, candlesticks and mirrors are especially popular. "Most people who buy Erte art are collectors of very beautiful things. People see it for what it is and see the beauty of it," he said.

Jewelry is popular as well. Doyle New York's jewelry specialist Berj Zavian explained that Art Deco jewelry has been huge ever since the Great Depression. "People have finally realized the craftsmanship of the Art Deco jewelers," he said. "My father was one of them--he was one of the old timers--and everything was made by hand. People appreciate the workmanship, the quality of the merchandise. The diamonds were always good as opposed to Edwardian or Victorian diamonds."