News
Hudson antique dealers struggling
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Recession thinning city's antique market
By Jamie Larson
HUDSON — Warren Street in Hudson is well known for its dozens of high-end antique shops, and dealers are feeling the pinch as the recession tightens its grip on the nation’s consumers.
Sales in Hudson are down around 20 to 30 percent, according to Hudson Antiques Dealers Association president Frank Rosa. Though few, if any, shops have closed this year and dealers say things aren’t as bad as they could be.
Rosa said there is concern in the community about sales dropping further as the recession continues, but added that dealers in Hudson actually have some decided advantages over those in larger cities. Rosa said he has had conversations with dealer friends in Manhattan and Chicago and their sales are even worse.
“I’m optimistic,” Rosa, who owns the 20th Century Gallery, said. “We needed a major (economic) correction nationally. We understand this is a luxury business. People love to spend money but they are just more cautious now, and rightly so.”
There are a few factors, Rosa said, that are helping local dealers. One is that the cost of doing business in Hudson is substantially cheaper than in larger cities, with less overhead payments for rent and taxes. “Everybody bellyaches about business being down, and it is, but the low overhead allows us to weather it,” he said.
Hudson’s location and layout is also helpful, Rosa added. Buyers, he continued, have a notion that because they are in a small city upstate they will get better deals and lower prices. Rosa says this really isn’t true and that in the antiques business things cost what they cost. Hudson dealers are more willing to negotiate in the current economy but, according to Rosa, so are those in other cities.
Rosa went on to say that having so many antique shops in such a small area is helpful as well. While it may seem like competition, dealers sell a diverse selection and having such a wide variety of shops makes Hudson a destination for buyers.
Kurt Smith, owner of Regan and Smith Antiques, has only been selling in Hudson for a little over a year. He came from Newport, R.I. and said he would be doing much worse now if he had stayed there because people go there for a lot of reasons but many tourists come to Hudson just to buy antiques.
Being closer to New York City is also extremely helpful, Smith said. “Business would probably be down two thirds in Newport,” he said, “I’m very happy we moved here. I would always choose to be in a place with more customers than be the only dealer in town.”
Jennifer Arensksjold, co-owner of Arenskjold Antiques Art and Modern Design has been dealing out of locations on Warren for 24 years and echoed Rosa and Smith’s sentiment about the benefits of working in Hudson. She was also President of HADA in the ‘90s and noted the business district has weathered tougher crises in the past. She said business actually dropped substantially lower after the 9/11 terrorist attacks and stayed down for two years after. This also coincided with a change in taste in the market, as buyers began to shy away from old Victorian style “brown furniture,” becoming more interested in newer, modern style objects.
Arenskjold said much of the antique business has gone online, and the best way to keep business viable is to stay in constant contact with buyers. She said she actually does the majority of her deals with people who never come into her store.
Several dealers agreed that while there is still a good amount of foot traffic coming into the stores, that clientele are doing much more looking than buying. Rosa said his sales of smaller less expensive items, that people can carry out, have gone down less than big objects and furniture.
Arenskjold said that business has picked up some since the beginning of the summer in her shop. She attributes this to the increase in tourists but also the fact that, in spite of the economy, she decided to move to a larger location at 605 Warren St. She says having more display space gives shoppers more options and more reason to buy.
“That’s made a huge difference, everything is more accessible to people,” she said, “and we have huge exposure on the Internet and that’s still good.”
Going forward, dealers said they remain cautious of how the business will be affected by a prolonged recession, but for now the Hudson Antique dealers are hanging in there.
To reach reporter Jamie Larson, call 518-828-1616 ext. 2269, or e-mail jlarson@registerstar.com.
Sales in Hudson are down around 20 to 30 percent, according to Hudson Antiques Dealers Association president Frank Rosa. Though few, if any, shops have closed this year and dealers say things aren’t as bad as they could be.
Rosa said there is concern in the community about sales dropping further as the recession continues, but added that dealers in Hudson actually have some decided advantages over those in larger cities. Rosa said he has had conversations with dealer friends in Manhattan and Chicago and their sales are even worse.
“I’m optimistic,” Rosa, who owns the 20th Century Gallery, said. “We needed a major (economic) correction nationally. We understand this is a luxury business. People love to spend money but they are just more cautious now, and rightly so.”
There are a few factors, Rosa said, that are helping local dealers. One is that the cost of doing business in Hudson is substantially cheaper than in larger cities, with less overhead payments for rent and taxes. “Everybody bellyaches about business being down, and it is, but the low overhead allows us to weather it,” he said.
Hudson’s location and layout is also helpful, Rosa added. Buyers, he continued, have a notion that because they are in a small city upstate they will get better deals and lower prices. Rosa says this really isn’t true and that in the antiques business things cost what they cost. Hudson dealers are more willing to negotiate in the current economy but, according to Rosa, so are those in other cities.
Rosa went on to say that having so many antique shops in such a small area is helpful as well. While it may seem like competition, dealers sell a diverse selection and having such a wide variety of shops makes Hudson a destination for buyers.
Kurt Smith, owner of Regan and Smith Antiques, has only been selling in Hudson for a little over a year. He came from Newport, R.I. and said he would be doing much worse now if he had stayed there because people go there for a lot of reasons but many tourists come to Hudson just to buy antiques.
Being closer to New York City is also extremely helpful, Smith said. “Business would probably be down two thirds in Newport,” he said, “I’m very happy we moved here. I would always choose to be in a place with more customers than be the only dealer in town.”
Jennifer Arensksjold, co-owner of Arenskjold Antiques Art and Modern Design has been dealing out of locations on Warren for 24 years and echoed Rosa and Smith’s sentiment about the benefits of working in Hudson. She was also President of HADA in the ‘90s and noted the business district has weathered tougher crises in the past. She said business actually dropped substantially lower after the 9/11 terrorist attacks and stayed down for two years after. This also coincided with a change in taste in the market, as buyers began to shy away from old Victorian style “brown furniture,” becoming more interested in newer, modern style objects.
Arenskjold said much of the antique business has gone online, and the best way to keep business viable is to stay in constant contact with buyers. She said she actually does the majority of her deals with people who never come into her store.
Several dealers agreed that while there is still a good amount of foot traffic coming into the stores, that clientele are doing much more looking than buying. Rosa said his sales of smaller less expensive items, that people can carry out, have gone down less than big objects and furniture.
Arenskjold said that business has picked up some since the beginning of the summer in her shop. She attributes this to the increase in tourists but also the fact that, in spite of the economy, she decided to move to a larger location at 605 Warren St. She says having more display space gives shoppers more options and more reason to buy.
“That’s made a huge difference, everything is more accessible to people,” she said, “and we have huge exposure on the Internet and that’s still good.”
Going forward, dealers said they remain cautious of how the business will be affected by a prolonged recession, but for now the Hudson Antique dealers are hanging in there.
To reach reporter Jamie Larson, call 518-828-1616 ext. 2269, or e-mail jlarson@registerstar.com.
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