For fun Holt's Wiscombe how much?

[Unframed Dave]

Of course, why wouldn't we be I'm not the actual auctioneer?

There's no special treatment though I'm stood in the room just like you and have to pay the same commissions etc

Having to be at every sale its very hard not to impulse buy every bargain

I'm not questioning you or Holts personally. Let's just say though an unscrupulous auction house advised a client that an item was worth less than it actually was in order to snap it up for themselves (assuming no one else in the room wanted it). Wouldn't there be a conflict of interests?

I'd always assumed auction staff wouldn't be allowed to bed, that's all.

Dave

[walnutfarmmick]

I'm not questioning you or Holts personally. Let's just say though an unscrupulous auction house advised a client that an item was worth less than it actually was in order to snap it up for themselves (assuming no one else in the room wanted it). Wouldn't there be a conflict of interests?

I'd always assumed auction staff wouldn't be allowed to bed, that's all.

Dave

You'd think it would be a conflict of interest, wouldn't you?

I was at an aucton, years ago, when the auctioneer himself actually said 'We'll have some of that. Put that down to us'. There were a number of lots of office supplies with bidders being invited to say how many lots they wanted once a price had been established. Nobody seemed concerned.

IF you recall one of the major international houses caused a scandal fairly recently when it was revealed that they had lent money to a punter to buy some work of art at an inflated price to create a record price.

I hate the way Buyers' Premiums have crept all over the country. We only used to get them in Lincolnshire and the sales people would knock stuff down if it got within 5 or 10% of the reserve and forgo their premium in order to get the sale, settling for just the usual commission. I don't deny them the right to make a living but they do seem to have got very greedy. In fine arts they can end up with as much as a third of the monies achieved. It can seem as if the auction is for their benefit rather than the owner of the goods. I once bought a 1931 Rolls Woody estate for £10,000, firmly believing that there was some profit in it. There was, about £1500, but for me to obtain that through a prestige car auction it would have have to do about £13000 under the hammer, with them then having a second bite out of the buyer.

Incidentally the kids have been told it is only to be referred to as My First Rolls Royce, but I seriously doubt if there'll be a second!

You must remember that all that small print in the catalogue was written by the auctioneer and mostly protects .. the auctioneer!

Of course, this is only my take on it and I'm sure Messrs Christie, Sotheby, et al will plead poverty.

ATB, Mick

[RichardH]

I'm not questioning you or Holts personally. Let's just say though an unscrupulous auction house advised a client that an item was worth less than it actually was in order to snap it up for themselves (assuming no one else in the room wanted it). Wouldn't there be a conflict of interests?

I'd always assumed auction staff wouldn't be allowed to bed, that's all.

Dave

I can see your point but valuations are issued by the respective specialists rather than the reps

They would have to be crooks and they certainly arent

[ratshot5]

£2400

[ptdunk]

Went for £3300 + fees.

I think that’s around £4250.

[JSD]

hi, £3,300 was my final bid.. and the person who bid £3,400 won it.. + fees + postage.
not far off the £5,000 mark.. i was so looking forward to a nice jw50 tipper..
now i suppose i will never get one ! kind rgds.. J.S.D.

[RichardH]

Went for £3300 + fees.

I think that’s around £4250.

That learned friends is the power of a proper international auction

Selling privately that’s a £2000 gun and you would have to wait months for the right buyer.

Suddenly the sellers premium looks cheap

[Unframed Dave]

That learned friends is the power of a proper international auction

Selling privately that’s a £2000 gun and you would have to wait months for the right buyer.

Suddenly the sellers premium looks cheap

Not really.

Dave

[Garvin]

That learned friends is the power of a proper international auction

Selling privately that’s a £2000 gun and you would have to wait months for the right buyer.

Suddenly the sellers premium looks cheap

How much did the seller have to pay Holts, I wonder? And maybe it's a £2,500 gun privately these days.

Not such a great deal, I suspect, although in this instance Holts would seem to have been a reasonable choice. Pot luck really. Some Holts sales don't make a decent return at all.

[nurek]

How much did the seller have to pay Holts, I wonder? And maybe it's a £2,500 gun privately these days.

Not such a great deal, I suspect, although in this instance Holts would seem to have been a reasonable choice. Pot luck really. Some Holts sales don't make a decent return at all.

From what I have been told by Holts the seller fee is 15% on first £1000 and 10% on the remainder all +VAT, that's negotiable on how much you are selling, what you are selling and so on.

So as the gun sold for £3300 the fee would be (150+230)*1.2= £456, so the seller would actually get £2844, the buyer actually paid £4290 inclusive of 25% buyers fee and VAT on the fee.

I make that over £1000 of profit in this case...