Going by strict definition, a craft can be called antique when it is at least 100 years old. Some collectors, writers and insurance companies consider even 75 years old item as antique. For many people, antique just means old and collectible.
The global antique crafts industry is made up of innumerable dealers buying and selling antique crafts. However, there is no reliable statistics that reflect the accurate volume of trade in antiques. The present trend of antique collection has less regional focus which can be attributed to the use of Internet for buying and selling antiques. People are globally exchanging them. There are many countries that export quite a large number of antiques, especially the Asian countries, such as India and China. The major importers of antiques are the USA and Europe.
Items, such as jewelery, furniture
, clocks and watches made during 1940-70 are becoming more and more popular. Some items show cyclic manner of popularity by disappearing for a while and then suddenly becoming very popular. This can be connected to the publicity given to them by media including magazines, TV programs, roadshows etc.
Trade in antiques and collectibles has a bright future. However, with its growth, there will be increasing pressure leading to very tough competition as authentic antiques are a finite resource.
Fake antique items and reproductions of antiques have posed a serious challenge before the antiques industry. In fact, there are authorized and permanently marked reproductions that are sold in the market. It becomes a problem, only when these reproductions are sold as old and original. Some of these reproductions are so close to the originals that only an antiques expert can make out the difference. A novice or a hobbyist collector, and even many dealers, can not identify fake antiques.