When considering an investment of any kind, one evaluates the cost/benefit of the investment and attempts to measure the projected future return on investment. Another measure of value is referred to in economics as "utility"; in that - the higher the amount of utility received, the more valuable the product is to the user. The "utility" that one receives from the product comes from the amount of use that the item provides and the length of time that the item lasts. The valuation process for investing in quality furniture, should be given the same consideration!
Original design, quality materials, and a streamlined manufacturing process (whether it be hand-crafted or machined) can increase the value of a furniture piece considerably. Therefore, the cost to produce these pieces may be higher for material and labour, but with minimal opportunity cost on the socioeconomic & environmental side of things.
Our very own Ross Taylor, owner of Gabriel Ross discusses the lasting value and long-term benefit of procuring quality furniture for your home. In this "The Language of Design" interview featured on Victoria's new online magazine Modern Home Victoria, you will hear Ross' take on the LCI Sling Chair - designed in 1928 by Le Corbusier, Pierre Jeanneret and Charlotte Perriand produced by Cassina. Says Ross - “Original design holds its value and in some cases can actually appreciate in value over time. That said, purchasing high quality original design is more of an investment in lifestyle. I have clients who have owned original Womb chairs, Egg chairs and Eames Lounge chairs, in some cases, for more than 50 years. They have not thought about the original expense of those pieces for a very long time.”
Catch the full video interview here, and check out the rest of the Modern Home Victoria - launched in July 2014 for all things modern in the Greater Victoria area.