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tline3open  Gorham bought by Lifetime Brands

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Author Topic:   Gorham bought by Lifetime Brands
jprice33

Posts: 204
Registered: Sep 2000

iconnumber posted 07-12-2007 03:59 PM     Click Here to See the Profile for jprice33     Edit/Delete Message   Reply w/Quote
[01-2589]

quote:
Thursday, July 12, 2007
Lifetime Licenses Lenox’s Sterling Silver Businesses

GARDEN CITY, N.Y. (July 12) -- Lifetime Brands added more brands to its tabletop business today with the announcement that it has licensed Lenox Group Inc.’s sterling silver brands, which include Gorham, Kirk Stieff, Whiting and Durgin.

The agreement also allows Lenox Group Inc. to continue its strategy to improve its financial picture. Lenox will still use the Gorham brand in non-silver product categories, such as gift ware and crystal, which it plans to grow and develop.

“This transaction reflects our strategy of expanding Lifetime’s portfolio of distinctive brands and the product categories in which we participate,” Jeffrey Siegel, chairman, president, and chief executive officer of Lifetime, said in a statement.

    “The highly regarded sterling silver and silver ornament businesses of Gorham, Kirk Stieff, Whiting and Durgin are a perfect complement to the sterling business we acquired from Syratech Corp. in 2006. We look forward to applying Lifetime’s outstanding brand development and product innovation skills to these prestigious brands.”

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June Martin
Forum Master

Posts: 1223
Registered: Apr 93

iconnumber posted 07-12-2007 09:19 PM     Click Here to See the Profile for June Martin     Edit/Delete Message   Reply w/Quote
Thanks for posting this. Gorham certainly has gone through a lot of ownership changes. Each one, takes a toll on what was once a grand dame of the silver world.

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jprice33

Posts: 204
Registered: Sep 2000

iconnumber posted 07-13-2007 05:18 AM     Click Here to See the Profile for jprice33     Edit/Delete Message   Reply w/Quote
I'd expect new ownership (which also includes International, Wallace, Towle, Tuttle etc) to be more creative with the Gorham Sterling line...

Reed & Barton, Lunt & Tiffany are the last 'big' 3 not to have merged in...Oneida is no longer producing Sterling..

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Ulysses Dietz
Moderator

Posts: 1265
Registered: May 99

iconnumber posted 07-18-2007 12:56 PM     Click Here to See the Profile for Ulysses Dietz     Edit/Delete Message   Reply w/Quote
Alas, Gorham really exists no more--except as a brand--like Abercrombie & Fitch. I cannot imagine that anything good will come of this.

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mdhavey

Posts: 164
Registered: Dec 2003

iconnumber posted 08-01-2007 12:19 AM     Click Here to See the Profile for mdhavey     Edit/Delete Message   Reply w/Quote
These marques are merging and changing (except for Tiffany) because the market is changing, and not for the better. Which begs the question of whether the young in the US (anyone under 40 in my book) have any interest in carrying on the tradition of cherishing antiques (in general, silver in particular).

I'm a part-time dealer of antiques (not just silver) in northern New England. I've noticed that at auctions, I'm usually one of the younger people present (and I'm 53). Shops up here are selling fine furniture (especially) and other antiques for less than they were getting five years ago. This is not a good sign. The young flock to Ikea and Bombay and Target to buy junk, but evidently have no time or interest in educating themselves about and seek out old stuff that is beautifully and solidly made by true craftsmen.

I wonder lately if those of us who love fine things for their exquisite artistry and intrinsic value are a bunch of old farts destined to go the way of the dinosaurs.

Anyone care to weigh in on this weighty philosophical topic??

mdH

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salmoned

Posts: 336
Registered: Jan 2005

iconnumber posted 08-02-2007 03:19 PM     Click Here to See the Profile for salmoned     Edit/Delete Message   Reply w/Quote
Well, that young people don't tend to have much interest in old things - that's been generally true always. While aging, many people gain an appreciation for older things. I don't believe that antiques will become undesired or go uncollected, although there is always an ebb & flow to what's in vogue. Since population continues to increase, demand can hold steady even when the percentage of interested parties decreases...

As for lower prices, I'm all for 'em. Why should only the wealthy possess what they desire? Certainly, it may leave the dealers looking askance, but it doesn't hurt the realm of collecting...

[This message has been edited by salmoned (edited 08-02-2007).]

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Kimo

Posts: 1597
Registered: Mar 2003

iconnumber posted 08-02-2007 04:30 PM     Click Here to See the Profile for Kimo     Edit/Delete Message   Reply w/Quote
I think the decline in antique prices is a fairly broad phenomenon, but I attribute most of this to the Ebay effect. The Ebay effect has created an extensive market place where supply and demand set prices to a much greater extent than what an individual dealer might have been able to obtain in the past when such a huge and open market had not given the average person so much knowledge on pricing. I think it has also opened the doors to countless attics, basements, and closets around the world which has resulted in flooding the market with things that were previously thought to be rare and valuable, but which most everyone now knows is not the case. The shake-up is still ongoing, and I am not sure how long it will take before there is a final new equilibrium created on the real market value of antiques. In the end, I think it will be for the best, but there will be some disappointments among some people, mainly some dealers who may not be agile enough to move with the times, in the meantime.

I was at a large East Coast antique show two weeks ago looking at everyone's wares in hopes of maybe finding something to add to my collections - there were several hundred dealers and it was very well advertised. I walked out with just one small sterling pin. It wasn't that there were not many nice things - there were, though the reproductions, forgeries, and other junk seemed to outnumber the real things. The problem is that pretty much everyone was pricing their things far above what it can be had on Ebay. The show was well attended by people of all age groups with no shortage of twenty-somethings to forty-somethings to go along with similar numbers of older folks. However, I did not notice very many dealers who were doing much selling. The reason, at least from what I gathered as I eavesdropped on people's conversations after they had walked away from a table without buying anything, is that pretty much every dealer had prices that ranged from double to multiples of what you can get the same things for on Ebay. I know that dealers need to make money - I've been on the other side of the table as a dealer at points in my past life. But, I do not think it is a very healthy situation for either the dealers or the hobby to have relatively static overpriced inventories in the dealer's hands, and very slow additions to collections on the collectors side. Velocity of transactions stimulates collectors to buy more and collect more. It also stimulates new collectors to get into the game. After all, how many new collectors want to start collecting in an area where the prices on even the more common objects have been run up to sky high levels? Dealers do not make as much per transaction when they lower their prices to make them irresistible to the average collector, but on the other hand they achieve a greater number of transactions which stimulate faster inventory turnover which makes collectors want to come back sooner and buy more. This gets collectors juices flowing.

I know all of this is easier said than done, but until the majority of brick and mortar dealers or weekend show dealers catch up with the Ebay effect I think that they are going to be in the slow lane of the business.

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jersey

Posts: 1203
Registered: Feb 2005

iconnumber posted 08-02-2007 05:25 PM     Click Here to See the Profile for jersey     Edit/Delete Message   Reply w/Quote
Hello Kimo!

I tend to agree with your assessment of the situation, however the other big factor is the multitude of websites that offer goods. You no longer have to plod through the Yellow Pages etc. finding dealers & sellers maybe 50 or whatever miles away from you. A click of the 'ol Mouse will take you anywhere to get almost anything you want! Maybe not always today, but most times within a relatively short period of time.

Also I have found that the older dealers tend to be selling what (I feel) are the same old things that were sought after 5 even 10 years ago. The younger generation hasn't much of a thought (yet) .... about Great Grandma's things pre-1930's. Grandma's stuff 1960's & up is cool. Stuff in the house they grew up is just old. There will always be those who's interests are specific to a certain time frame & style. Every 10 years or so things change to a new time frame & area of collecting. Eventually the oak ball & claw table will be hot again.

That reminds me of the Towle silver pattern being scraped today, noted by one of the forum members..it should be hot in another year or so...(the streamline look). The question raised is do you want to hang on to it waiting for that to happen or do what you have to now financially even if it means taking a loss.

Most things made in Japan & Mexico (generally speaking) was the kiss of death 10 years ago.....now look. When I look at old silver flatware pattern books with prices, many of those listed as Not collected by many are flying high now. Great quality stuff will always be Great! Things that were junk then are still junk now but with a bit of a price tag. This too shall pass.

Buy & sell what you like not what's in fashion, just be prepared to take that hit if it comes.

And that's my 3 cents. Didn't mean to be so long winded.
BTW Any member in the Minneapolis area where the bridge collapsed, my prayers are with you.

Stay Safe.
Jersey

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