Although antique shop owners say that their products can give some comfort to consumers in this economy, they also are reporting they have felt the uncertainty reverberating across many markets.
"In uncertain times, there is comfort in the familiar," said Rodney Simmons, owner of Revival, an antique and luxury gift shop. "The best of the past provides stability and comfort."
But across the country, uncertain times has resulted in an antique market that has felt the effects.
"The last two years have been the worst I have ever seen and I have been in the business for 40 years," said Leslie Meek of Meek's Auctions, which specializes in European antiques.
As the economy took a downturn, local antique dealers said the value of glassware, cabinets, armoires and more common items dropped.
However, certain items like fine art, prints and some types of furniture have continued to hold their value despite selling for less. Mr. Simmons said that with more people "nesting" in their current home, they are investing in case goods such as hutches and chests that create additional storage.
Despite the numbers and drops in revenue, some area antique dealers report that business is still doing well.
Victoria Meek-Underwood, owner of the Insyde Outsyde Shop, said that despite a decline in revenue her store has thrived because the prices allow her to cater to a wide base of consumers.
"Dealers figured out they can buy something here for $50 rather than $150," Mrs. Meek-Underwood said. "I have something for everyone from the college student to the wealthy."
Jo Althaus of Southside Antiques said loyal customers and a good location in downtown has helped the store to thrive in hard times.
"We get alot of walk-in traffic from the convention center and other retailers," she said, adding that the antique silver and oriental rugs are selling particularly well.
Mr. Simmons said that business has done so well he decided to take a chance and expand and move Revival in November 2009 to Warehouse Row.
"It was a leap of faith," he said. "People definitely raised eyebrows. But we believe -- no guts, no glory. I wouldn't have invested into the area if I didn't think the people would be receptive to the shop and its offerings."
Experts say that slowly the market seems to be making a comeback.
"The first three quarters of last year were particularly rough, but things began to pick up in the fourth quarter," said John Smiroldo, publisher and founder of Antiques & Fine Art Magazine.
"It's not the heyday like it was three years ago, but it's better," Mr. Smiroldo said, adding that an improved economy may help the antique market improve in the next 18 to 24 months.
5 things to consider when buying antiques* Buy what you like and will enjoy seeing* Buy the best condition you can for the money you have* Research the item before you decide to buy it* Ask a lot of questions of the shop owner* Don't limit your shopping to just antique stores; go to garage sales and flea marketsSource: Eric Bradley, editor of Antique Trader magazine
Editors of industry magazines said that shops in smaller antique markets such as Chattanooga can utilize the Internet to sell, capitalize on social media, enhance their customer service and have a moderate rate of turnover to help drive more business.
"Now is the perfect time to collect if you are interested," Eric Bradley, editor of Antique Trader magazine, said. "Antiques, like good stock, can yield a return on investment."
"Young people aren't collectors in the traditional sense. They prefer to buy three of four great pieces. You can't have a generation growing up on TLC, HGTV without growing an appreciation for things."
-- Eric Bradley, editor of Antique Trader magazine
What defines an antique?
Anything that is 100 years old or older. It's a federal definition that regulates the flow of antiques in and out of the country.
-- Antique Trader magazine Editor Eric Bradley