Going once, going twice, gone...

The huge lampshades, statues or furniture may not conform to the new-fangled concept of minimalism that rules home decor today but they sure have their own band of loyalists.

A young girl walks into the godown asking for a small safe. Though not in stock currently, the gentlemanly manager promises one within two weeks. The shop, set up in 1942, still manages to source furniture dating back to the 19th and 20th centuries.

Changing tide
It has become almost imperative for the auction houses dotting the Park Street-Russel Street area to adapt to the changing tide. Today, they have either closed or stand as mere shadows of their former self, resigned to trading in electronics, second-hand clothes and reproductions of period furniture. The once-popular Dalhousie Exchange on Russel Street has made way for a sari shop.

Most auction house officials will tell you that the profit margins aren’t so high anymore. Procuring antique furniture is an expensive proposition nowadays owing to heightened awareness of its value. “The scenario has worsened after Bowrings began operations,” said J R Jones, manager of Victor Bros, one of the best dealers of antique furniture.

Niche market
Most sell off their inherited furniture owing to space constraints. Families are moving into smaller houses and cannot accommodate the giant, elaborate pieces in their rooms, says Jones.

“We cater to a niche base of loyal customers who still prefer furniture made of mahogany rather than particle wood,” he smiles.

The downslide
S Javed, proprietor of Russell Exchange — perhaps the only place in India that still holds weekly auctions of clothes — also rues that business has been on the downslide. Designer saris and blazers as good as new can be bought for an affordable price of Rs 50 to 60 per piece.

Javed pointed out that earlier auction houses were patronised by the affluent classes but the last few years have witnessed a change in profile. “Now, it is the middle or the lower-middle class that keeps up the otherwise dwindling sales,” said Javed.

And of course, there are a few old-timers with a passion for auctions. “They pick up little items which catch their fancy,” grins Javed.

“This is our family business but now we have to diversify or branch out into a different field. Plus, with rents shooting up, it is difficult to maintain the place,” said Javed.