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How much could you get for your old Ikea furniture?

That's a question many may be asking themselves, after vintage Ikea pieces were sold at an auction for hundreds of thousands of kronor.

How much could you get for your old Ikea furniture?
Li Pamp, CEO of auction house Stockholms Auktionsverk, poses in the showroom where vintage Ikea furniture is displayed. Photo: Viken Kantarci/AFP

At a chic Stockholm auction house, 122 carefully-curated items with unusual provenance went under the hammer on Monday evening: vintage furnishings from flatpack furniture retailer Ikea were sold for a total of 37,000 euros ($40,000).

Collectors’ interest has blossomed over the years for Ikea pieces that have become design icons, as the Swedish company – normally known for more budget-friendly piece – celebrates its 80th anniversary this year.

Inside the showrooms at Stockholm’s Auktionsverk, the world’s oldest auction house, a tubular sofa, a lacquered chest of drawers and even a pair of “space age” lamps take pride of place.

The pieces, which date from the 1950s to the 1990s, are all marked with the stamp of the famous Swedish brand known around the world for its DIY furniture.

Ikea is celebrating its 80th anniversary this year. Photo: Viken Kantarci/AFP

“I’ve been working in the auction industry for almost 30 years, and if somebody when I started would have said that ‘One day you will host an Ikea auction in a very nice showroom’, I would have said ‘No, no, that’s absolutely that’s not possible’,” laughed Li Pamp, head of the auction house.

“Ikea has in many ways been controversial,” she noted, citing the company’s history of copying and following trends and “criticised for environmental and sustainability reasons.”

“But there are also some items that stand out,” Pamp said.

“Many very famous designers have been at some point in their career involved in Ikea. And for many, Ikea was the starting point of their career.”

Collector interest is growing in archival pieces from the Swedish flat-pack giant. Photo: Viken Kantarci/AFP

Tableware, furniture, mirrors, lights: more than 100 pieces curated from private homes were sold at Monday’s auction. A red sofa sold in Ikea stores in 1972 for the equivalent of 120 euros went under the hammer for 2,000 euros.

Earlier this year, an Ikea “Cavelli” armchair made headlines when it sold for 18,000 euros at another Stockholm auction – a fortune compared to the around 27 euros it cost when it first went on sale in 1958.

“As I remember it as a young child, if you wanted some cheap furniture you’d go to Ikea,” said Thomas Raber, in his 60s, appearing elegant as he meandered through the showroom ahead of Monday’s auction.

“You put it together yourself, and then when you’d had it for a few years, you’d throw it away,” he recalled.

“And now 80 years later, it’s here and it’s being auctioned as a piece of art, an antique. I think that’s fascinating.”

‘Journey back in time’

For Anette Aly, a 78-year-old Swede who bought her first sofa at an Ikea store in 1963, “it’s a journey back in time”.

“I see the things I saw 40-50 years in the store!”

Some of Ikea’s old designs have become icons for the brand. Photo: Viken Kantarci/AFP

The emergence of a high-end vintage market hasn’t escaped the retailer.

“It’s flattering. It’s confirmation that we’ve created the greatest brand in over 80 years,” raves Thea Mix Davidsson, collection curator at the Ikea Museum in the company’s hometown of Älmhult.

The high prices for the coveted pieces are “the only thing that bugs us a little bit. We are meant to design for everyone.”

Picking up on the trend for all things vintage, Ikea has launched a new collection with fresh takes on iconic Ikea designs, with the slogan “return to the future”.

With that market booming, Pamp said many people could literally be sitting on unknown treasures.

“It could be that people have valuable Ikea items at home without knowing it,” she said, urging them to give the auction house a call for an evaluation.

“We will of course help you!”

Article by AFP’s Viken Kantarci

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PROPERTY

For sale: New record as flood of apartments hits the market in Sweden

A flood of new homes are being listed as up for sale in Sweden as sellers and buyers eagerly hope for an imminent interest rate cut.

For sale: New record as flood of apartments hits the market in Sweden

A record number of apartments were available on Sweden’s main property listings site last month.

A total of 32,233 apartments were listed for sale on Hemnet in April, 40 percent more than the same month last year and the highest number ever for a single month. A lot of these ads are however for upcoming sales rather than apartments that are already up for public viewings.

“The high supply is an effect of a long period of a sluggish market rather than a risk factor for new price drops. This spring we’ve been seeing both rising prices and more activity. Especially as a result of the fact that we appear to be at peak interest rate and that the first interest cut is drawing near,” writes Hemnet market analyst Erik Holmberg in a comment quoted by Swedish news agency TT.

ESSENTIAL TIPS:

The previous record month was October 2023, when a total of 31,985 ads were posted on Hemnet.

The Local has previously reported that Swedish property prices are also on the rise as the market kicks into action.

A major reason behind the flood of apartments for sale is the expectation that Sweden’s central bank, the Riksbank, will soon slash the country’s main interest rate. While this is expected to bump up prices, it is on the other hand also likely to lead to lower mortgage rates.

EXPLAINED:

The Riksbank will announce its next decision on Wednesday.

This is a crucial announcement as the so-called policy rate is the bank’s main monetary policy tool. It decides which rates Swedish banks can deposit in and borrow money from the Riksbank, which in turn affects the banks’ own interest rates on savings, loans and mortgages. 

Sweden’s policy rate is relatively high at the moment, 4.0 percent (the highest since 2008), because of the Riksbank trying to bring down inflation. If bank interest rates are high, it’s expensive to borrow money, which means people spend less and as a result inflation drops.

But now that inflation is on its way down, Riksbank chiefs themselves have said that they think it’s likely that they will cut the policy rate in either May or June, and several economists predict that the cut is going to come sooner rather than later, which would mean this week.

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