Generally speaking, clothing which was produced before
the 1920s is referred to as antique clothing and clothing from the 1920s to 20
years before the present day is considered vintage.[citation needed] Retro,
short for retrospective, or "vintage style" usually refers to
clothing that imitates the style of a previous era. Reproduction, or repro,
clothing is a newly-made, copy of an older garment. Clothing produced more
recently is usually called modern or contemporary fashion. Opinions vary on
these definitions.
Most vintage clothing has been previously worn, but a
small percentage of pieces have not. These are often old warehouse stock, and
more valuable than those that has been worn, especially if they have their
original tags. Referred to as dead stock or new old stock (NOS), they
nevertheless sometimes have flaws. Vintage clothing may be either commercially
produced or handmade by individuals.
In the United States, due to changes in clothing sizes,
vintage clothing sizes often are smaller than the corresponding contemporary size. For
example a garment from the 1970s labeled as Medium (M) might be similar in size
to a 2010s Extra Small (XS). As obesity was relatively uncommon prior to the
1980s, larger sizes are typically rare. Vintage sewing patterns offer an option
for those who want a historically accurate garment but cannot find one in their
size.
Vintage clothing in recent years, for the first time, has
been recognized as a tangible (hard) asset, which means that it has value. The
asset purchased retains an immediate monetary value. The asset may well
appreciate, hopefully at a rate faster than inflation. During periods of high
and/or rising inflation, hard assets (including collectibles) tend to
outperform financial assets, which often depreciate in value in the face of high
inflation. The driving force during the price mark-up phase, when collectibles
prices escalate rapidly over a period of years, is the level and direction of
real interest rates. First oil, then labor costs, then general inflation, have
started to awaken from their slumber. Now collectibles and other hard assets
should begin to outperform financial assets, as they did in the prior
inflationary wave of 1973-1981. Once the tide starts to come in, the trend
should continue for years, not just for weeks or months, if history is any
guide. Collectors of jewelry and vintage clothing can expect to have the wind
at their backs in the years ahead.
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