Word: fruitwood
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Dates: during 1980-1989
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Some of the best bargains are in luxury goods--antique furniture, for example. In a recent sale at the Phillips auction house in London, American dealers and collectors bid up the prices of fruitwood furniture one- third or more above the advance estimates. An 18th century walnut desk that went unsold at $1,875 last year brought $4,680; a Queen Anne walnut bureau expected to go for $16,800 reached $33,600. Such prices wiped out the savings that American buyers got from the strong dollar, but London prices for decorative furniture are still at least 20% lower than...