One of the most persistent myths of the modern age is that Generation Xers and Millennials abhor antiques, while at the same time oddly adoring anything "vintage" (as if there was much difference between the two). The mainstream narrative goes something like this:
The younger generations love living in apartments, condos or townhouses in the inner city. Your average Millennial employs a sleek, streamlined sensibility when decorating his (or her) posh city condo. The color palette is invariably bright and colorful and design choices are always modern and sophisticated. All things considered, in the popular imagination a typical Millennial's urban pad looks remarkably like the product of a James Bond villain - part contemporary art collector and part evil genius.
But like all myths, this one isn't quite authentic. It is true that younger people like different antiques than older generations. For example, overly ornate and frilly Victorian styles are out and alluringly sleek Mid-Century Modern is in. Grandma might not approve, but this is a story that has been retold many times throughout human history.
The real issue for Millennials is that they were born into less than ideal economic circumstances. Jobs and raises have been scarce for many people since the Great Recession of 2008-2009, but younger workers were hit especially hard. As a result, Millennials have been forced to live in smaller apartments, live with roommates or even, under exceptional circumstances, move back home with their parents. None of these living arrangements is conducive to buying antiques.
In addition, practicality reigns supreme in the lives of most 20 and 30 somethings these days. If your dining nook doubles as a living room, you're not going to feel particularly inclined to clutter it up with unnecessary furniture or knickknacks. Instead you would carefully and thoughtfully decorate in a way to make maximum use of the space.
Another major reason that Millennials shy away from buying antiques is because they don't host formal dining parties. Given their fluid living arrangements and restrictive space constraints, this is perfectly understandable. Instead, they tend to focus on more intimate, informal gatherings with good friends.
But these trends may not last forever. I think that formal dining (or at least more formal dining, relatively speaking) will make a comeback over the next couple of decades. Why do I believe this? That's easy - demographics!
Right now it is a safe bet that most family gatherings in the U.S. occur at the clan matriarch's house. This could include holidays, graduations, birthdays or anniversaries, among others. And for many families, these celebrations involve semi-formal or formal dining. After all, Thanksgiving dinner just isn't the same without fancy place-settings around the big mahogany dining room table.
This means that under most circumstances, Generation Xers and Millennials make the pilgrimage to the ancestral family home several times a year for these events. And while traditions vary from family to family, it isn't uncommon for the fine china, good silver and formal dining room suite to be on full display during these meals.
This is a system that exists because it works. But it only works because the older generations - the Baby Boomers and Silent Generation - tend to live in the largest houses and, just as importantly, have the accessories for formal dining. It is difficult to host a family gathering in a cramped condo. Likewise, formal dining requires nice silverware, plates and glasses - many of which are invariably antiques.
But right now the Silent Generation is quickly passing into the mists of time. The youngest members of that generation are in their mid 70s as of 2018. The Baby Boomers are not far behind. They range in age from their mid 50s to early 70s.
And now we come to the crux of the matter: downsizing. The ancestral family home and de facto gathering spot is usually owned by the oldest members of a family. These houses are, generally speaking, generously proportioned and chocked full of a lifetime's accumulation of stuff. But they are also highly demanding in terms of time, money and maintenance.
Within the next 20 years, the Silent Generation will pass away and many of the Baby Boomers will choose to downsize for the sake of convenience and expense reduction. But the family gatherings will not stop just because grandma and grandpa have moved to a retirement community in Florida. This will leave a formal dining vacuum that will need to be filled.
Enter the Generation Xers and the Millennials.
These younger generations will be forced to take up the challenge of formal dining and family gatherings. By this time it is probable that, just like the generations before them, they will have abandoned their tiny inner city condos and apartments for larger suburban housing. And this is just as well, because they will need the room.
Now, I don't believe that this means that Millennials will adopt the tastes of their parents or grandparents wholesale. Quite the contrary, they will continue to carve their own eclectic stylistic path. But, discretionary funds allowing, they will buy antiques or vintage items in some form.
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Long gone will be the practical but boring, white IKEA furniture. In its place will be real wood furniture. It is doubtful that Waterford crystal and Depression glass will make a comeback, but formal dining with paper plates and plastic utensils is equally unlikely. Instead, a middle path of sensible Fiestaware and meticulously chosen vintage sterling silver decor is more probable.
Is formal dining dead among younger people? Hardly. They just haven't had the opportunity or demographic push necessary to adopt it yet. Informal entertaining is great, but it definitely has its limits. The rebirth of formal dining is on its way, and some parts of the antique market will benefit from the trend.
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