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Case Studies

Case Study Number 1

Nick was telephoned by one of his long standing clients who was about to move and downsize to a smaller property. Amongst the varied array of chattels accumulated over a lifetime of collecting were a number of interesting pieces that warranted inclusion in specialist auctions. As an independent valuer Nick was able to seek the various opinions and enter the pieces into the most appropriate sales at the various auction houses.

The specialist items in question ranged from a set of 4 terracotta garden urns designed by Archibald Knox for Liberty & Co which sold in a garden and statuary auction for over £5,000, a Russian silver stirrup cup sold in a London Russian theme auction for £3,000 and a William and Mary oyster veneered laburnum and walnut chest of drawers for £7,000 in a fine furniture auction. All the other pieces were sold in a Sussex saleroom through catalogued and general sales.

Case Study Number 2

Nick can also arrange sales by private treaty which in certain instances can prove very effective. On one occasion a fine selection of furniture had been assessed by one of the leading international salerooms at various estimates totalling £10,000 but the client wanted a quicker sale. From the style of furniture on offer Nick knew exactly who to call in and was able to affect an immediate transaction at £10,000. Not only did this provide the speed required but assuming the auction house had achieved the target figure, the client would have only received close to £7,500 after all the deductions of commission, insurance, photography and VAT.

Case Study Number 3

Another service that Nick offers is the sale of gold, silver and platinum direct to a bullion dealer. Many items of jewellery sold at auction do not achieve any more than their scrap value so a client is much worse off selling this type of item at auction. For example if a gold chain scraps for £100 a buyer has to allow in his bid for the buyers premium and VAT. This is usually about 20% (including VAT) so his bid would be £80.

From this the vendors commission would also be deducted which could be about 20% (commission, plus insurance, plus VAT). This would mean that the client is paid £64 for a £100 item. For a deduction of 7.5% Nick will collect and deliver items on a client¹s behalf to the bullion dealer. An itemised account is prepared and payment issued by cheque. The added advantage of this service is that Nick is paid a preferential trade rate which is in excess of the quoted rate to members of the general public. So for that hypothetical £100 item the customer would receive £92.50 as compared to the £64 if sold by auction.