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Furniture and fixtures, equipment and leasehold improvements are stated at cost. Depreciation of furniture and fixtures and equipment is computed using the straight-line method over estimated useful lives that range from two to ten years. Leasehold improvements are amortized using the straight-line method over the shorter of their estimated useful lives or the term of the related leases.
Relevance. Rating Newest Oldest. Best Answer: For furniture to be considered antique it needs to be 100 years old, however if you are collecting pieces that you hope will become increasingly valuable you do not necessarily need to buy authentic antiques. Many antiques are less valuable than pieces from the 1940âs to 1960âs.