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Old March 26th, 2013, 05:51 PM   #9
Alex Wolfson
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Join Date: Oct 2009
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There is also the factor of intrinsic quality and beauty, otherwise I agree the price would fluctuate like that of a simple commodity.

Take the example of countless 'Hamadan' types - runners and rugs from the late 19th and early 20th centuries. They are plentiful, well-made, and sometimes attractive. But by and large they are considered as utilitarian items, of less 'artistic merit'.

As they are not in demand for today's interiors, their values have behaved more like commodity prices. They are now probably cheaper in real terms than they were coming off the loom.

As an aside, one of the tragic consequences of inflation is that it is no longer economically possible to build, weave, or farm food to the same standard that our ancestors did.
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