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The Paris flea-market, known as the biggest antiques centre in the world, has been facing a harsh situation due to economic difficulties in France. In less than a year the 2,200 dealers regrouped in six major market places have incurred a 50% fall of their turnover as a result of the economic recession and a drop in general attendance. All the more, a series of attacks against foreign dealers by criminal gangs between 1994 and the start of 1997 have had negative effects on business there.
Rising unemployment (there are at least 4 million unemployed) has been a factor deterring French people aged between 25 and 50 from buying antiques and the economic crisis in Italy and Spain has also resulted in a fall in purchases made by Italian and Spanish dealers. Two new markets were inaugurated in 1991, the Dauphine and Malassis centres. But with abusive rents, the dealers who settled in these markets soon met increasing difficulties to develop their businesses.
Many among them then could not pay their rents while the owners of these markets faced difficulties regarding the heavy loans negotiated with several banks. The slump that occurred in the property sector in Paris brought new obstacles to such an extent that the group owing Malassis went bankrupt earlier in 1997. In addition, there has been a drift in business towards fairs around the French capital and auction rooms which have much more active than the flea market where goods are now however cheaper in comparison with those recorded by auctioneers. It seems that buyers feel more attracted by auctions where they apparently like the atmosphere of competition and do not bother to pay huge sums for the pieces they are interested in. A resumption of the economic activity in France, a fall in the number of unemployed people and a more aggressive marketing policy on the part of the antique dealers are the main conditions to help save the flea market from certain death.
Still, the flea market remains a unique concentrating place for thousands of art pieces and also the best realm for treasure finders.
Dozens of masterpieces have been found there, notably a painting bought in the Dauphine market for 1500 FF (US $ 260) and sold back 3,8 million FF (US $ 670,000) earlier in 1997 after it had been authenticated as a work by Cezanne ...
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