Blog
Constant truths in a time of change and uncertainty
As the country heads out along the cautious road from lockdown, how will things change? Will the general public retain the habit of face masks or not? How crowded will pubs, restaurants cinemas and shops become? Will the older generation start to lower their guard? And what of our business lives?
Some firms are desperate to return to as normal a nine-to-five routine as they can as soon as possible, while others, freed from the shackles of London business rates and soaring rents, have found a new lease of life.
In the auction world, the biggest change has been the acceleration of online bidding, which is now the norm rather than the occasional feature of sales. People still come to the saleroom, for consigning, viewing and bidding, but while it remains the hub of activity for all we do, the world in which we operate is now largely in the ether.
Does this matter? Perhaps to a degree; it is difficult to see how we will again witness the buzz that electrified the saleroom when packed with bidders – the febrile atmosphere often contributed to rising competition.
In the end, though, auctions are all about getting the best price for the consignor while also making sure that those who bid have the chance to acquire something that they simply wouldn’t find elsewhere.
At the heart of a good auction house is knowledge, expertise and a clear understanding of excellent customer service. Focus on those, and the rest will follow regardless of the changes wrought by technology.
Why the Euros are not just about playing or winning
Only last week, I explained how timing can be everything when it comes to auctions. In that instance, I was writing about Roger Federer’s decision to sell 20 lots of his Grand Slam match-worn clothing and racquets to raise funds for his charitable foundation, and to do so to coincide with Wimbledon.
No sooner had Roger bowed out of the tournament in the fourth round than another tale of perfect timing arose. HUGS, a charity shop in Bath, found itself in possession of a selection of memorabilia from the 1966 World Cup, including a copy of the official programme for the legendary final between West German and England at Wembley, as well as semi-final and final ticket stubs.
Naturally, with England reaching the finals of the Euros on July 11 this year – our national team’s greatest achievement since Geoff Hurst slotted home the winning goal 55 years ago – this seemed the perfect moment to put these treasures up for auction.
How do you price such things? Well the charity shop put up a starting bid of £200. That seems a reasonable sum when compared to past auction prices and what eBay has to offer, especially when taking condition into consideration.
Whatever they raise, however, anyone going to Wembley for the Euros final would be well advised to preserve their programmes and ticket stubs in as immaculate a condition as they can – especially if England win (I write this before the match) – as they will be collectors’ items immediately.
Why creating or reviving a market is often all about timing
A few weeks ago I mentioned that Roger Federer had decided to put up 20 lots of his match-worn clothing and racquets from his Grand Slam wins for auction to raise money for his foundation.
Now I’m pleased to report that so far the timed auction has raised £1.3 million and counting. Bidding will remain open until July 14.
Of course it helps that Fed is still in the running at Wimbledon, as I speak, having made it into the fourth round – and the second week – for the umpteenth time. And this illustrates one of the most important things about auctions: timing.
I’m sure Federer’s kit would make a great deal of money at any time, but I’m equally sure that more and higher bids will result from the auction being run alongside his favourite Grand Slam tournament, when many more minds are focused on all things tennis.
Such synchronicity is commonplace and for good reason.
In recent years, landmark exhibitions of largely forgotten or overlooked talent among Modern British artists have taken place at some of the most influential public galleries, including Pallant House Gallery in Chichester and the Dulwich Picture Gallery. As these exhibitions spark new interest in the likes of Cedric Morris, John Minton, Christopher Wood and Keith Vaughan, so collectors who have held their works for many a year decide that now might be the time to sell them at auction. Prices rise along with demand and the artist enjoys a greater profile. Depending on how much work of the first quality becomes available ongoing, this surge in popularity and value can last into the medium to long term.
It’s all about getting the timing right.
What use is an old phone box today?
When an iconic red phone box due to be offered at auction sold before bidding started at £15,000 last month, it reminded me of how seemingly mundane items can take on a new life when their original purpose has been fulfilled.
In this case the phone box had been a feature of the streetscape for decades close to Lincoln Cathedral. The price achieved was a full £9,000 above the anticipated auction estimate.
So why do such things make this sort of money? In short, design and nostalgia, twin qualities that can turn what has been a workaday object into folk art.
Think about it: the cliché views of London in Hollywood films have always been the Houses of Parliament, Tower Bridge, Bobbies on the beat, Beafeaters, Buckingham Palace, London taxis, red pillar boxes and the old red phones boxes – all classic images of supposedly more innocent and better days gone by.
The unique design of the phone box was the brainchild of Sir Giles Gilbert Scott (1880-1960), a well-known architect whose two most celebrated buildings were Battersea Power Station and Livepool Cathedral. He was also the grandson of Sir George Gilbert Scott (1811-78), who designed both the Albert Memorial and, most famously, St Pancras Station.
Taking care with design so that it appeals to our aesthetic sense as well as being supremely fitted for its function gives objects the sort of longevity that less well thought out things lack.
In turn, this transition from functional object to folk art brings new life to things long past their sell-by date and creates whole new collecting fields such as street furniture, which can encompass everything from road signs and phone boxes to the long redundant fire stamps issued to clients by insurance companies. It’s a good lesson that good design is not simply a luxury.