What’s hot and what’s not in the world of art, furniture and collectibles
The New Zealand collectibles market is seeing record-breaking auction prices for items ranging from Māori carvings to vintage guitars. Experts warn that these high prices are often driven by competitive bidding wars rather than consistent market value.
Why it matters
Understanding market volatility in collectibles helps investors and enthusiasts distinguish between genuine value and speculative bubbles.
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How can a pre-loved handbag sell for more than $17 million? Photo / Alain Jocard and Jacques Demarthon, AFP
A Hermès Jane Birkin handbag sells for a whopping $17.1 million, a baseball card sells for $21.4m, a Philip Patek watch sells for $54m and someone bids $3.77m for a pair of pre-worn sneakers. Jane Phare looks at some of the astounding amounts bidders will pay for something they must have and finds out what’s hot, and what’s flopped, in the New Zealand collectibles market.
Sometimes even seasoned auctioneers can be stunned by the amount of money an item sells for. Take last year when a small wahine tiki, carved in 2017 by Rotorua-based artist Stacy Gordine (Ngāti Porou), came up for sale.
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