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Auction house pulls USS Arizona items from block |
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Written by Associated Press
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Thursday, 12 November 2009 08:30 |
HONOLULU (AP) - An Ohio auction house has decided against selling a partial silverplated serving set salvaged from the sunken USS Arizona in the wake of the Dec. 7, 1941, attack on Pearl Harbor.
A spokeswoman for Cowan's Auctions Inc. said Tuesday that the company "has no intention of selling the silver'' at its Dec. 9 auction. She says the company is waiting for official notification from the Navy's Judge Advocate General Corps that the 24-piece serving set cannot be sold.
Some U.S. military veterans and others were dismayed that items from the USS Arizona might be sold to the highest bidder.
The company received the serving set on consignment from an heir of Navy diver Carl Webster Keenum. He collected the pieces in 1942 or 1943 during salvage operations. Keenum died in 1964.
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Information from: The Honolulu Advertiser, http://www.honoluluadvertiser.com
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
AP-WS-11-10-09 1948EST
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Last Updated on Thursday, 12 November 2009 10:23 |
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Christie's launches London-based Christie's Insurance Services |
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Written by Auction House PR
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Wednesday, 28 October 2009 12:39 |
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LONDON - Christie's announced today that it is launching Christie's Insurance Services, a firm whose products suit the sophisticated collector.
Christie's Insurance Services will partner in the UK with Heath Lambert, Europe's leading independent art insurance broker, and Chubb Insurance, the award-winning specialist insurance company. Together, their single-policy approach will provide Christie's private clients with bespoke, seamless insurance, that encompasses not only art but all personal insurance needs, including homes, cars and jewelry; as well as travel, legal expenses and personal liability. Christie's Insurance Services will initially be available to Christie's private clients in the UK and to European clients serviced from London.
Jussi Pylkkanen, President of Christie's Europe said: "Christie's continues to pride itself as much for its sales of fine art as for the leading art related services that it offers to clients. This high-caliber insurance service has been requested by our clients for some time, many of whom buy, sell, store and transport works of art through us. In addition to our valuation services, Christie's Insurance Services will ensure that their insurance needs are synchronised not only with these collection activities but with their entire lifestyle."
Clients will be able to protect both their art interests and their personal assets with one policy, one contact point, one renewal date and one premium. In merging the art expertise of Christie's with the insurance expertise of Heath Lambert and Chubb, any gaps and expensive overlaps that might occur with multiple advisors and multiple policies will be eliminated.
Simon Mobey, UK & Ireland Personal Insurance Manager for Chubb Insurance said Christie's Insurance Services' customers will "have the certainty of knowing that they are insured by one of the world's most financially stable insurers with consistently high ratings for financial strength."
Key features of this insurance service, which will stretch beyond traditional insurance and synchronize with any arrangements clients have with Christie's Fine Art Security Services, Christie's Art Transport and the firm's auction business, will include: a free appraisal service that will review current insurance arrangements for homes and collections, to determine any exclusions or pitfalls; risk management advice on protecting collections and preserving their value; advice on the purchase of insurance cover for a single item of art or a complete collection; and cover for activities such as the loaning or restoration of art. Most significantly, it offers automatic worldwide cover on any new purchase, with more than generous limits.
Richard Northcott, Managing Director of the Art, Jewellery, Private Client Division, Heath Lambert said: "We understand that private individuals expect a discreet, highly confidential and professional service to discuss the protection of their personal assets. We are delighted to be partnering with Christie's and Chubb to offer a broad range of risk-management services. This will ensure that Christie's clients receive the right solution, tailored to their individual values, culture and lifestyle, utilizing market leading products, while having one point of contact to cover all insurance requirements."
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Last Updated on Wednesday, 28 October 2009 12:54 |
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Bonhams launching independent operation in Australia |
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Written by Auction House PR
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Friday, 02 October 2009 16:11 |
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LONDON - Bonhams 1793 - a shareholder in the Australian company First East Auction Holdings Limited (FEAHL), which has traded for six years as Bonhams & Goodman - announced on Tuesday that Bonhams 1793 will launch its own independent operation in Australia. The move is part of an ongoing plan to expand Bonhams' operations globally. The company is currently active in 25 countries.
Bonhams Chairman, Robert Brooks, said: "I wish Tim Goodman and the team well. We have enjoyed working with them. Bonhams brand has been a key ingredient in developing this business in Australia. Later this year we will take a fresh strategic direction and expand our presence in this important market."
Due to its minority position in FEAHL, Bonhams' stake in Bonhams & Goodman represents less than 1 per cent of Bonhams 1793's annual global revenues. A press release generated by Bonhams noted that the auction company is "naturally keen to see future revenues grow in this important market."
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Auditors issue opinion: Barrett-Jackson complied to auction standards |
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Written by Auction House PR and ACN Staff
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Thursday, 01 October 2009 14:40 |
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SCOTTSDALE, Ariz. - An independent audit conducted by Deloitte & Touche LLP at the behest of Barrett-Jackson Auction Co. LLC was released today and indicates the classic car auctioneers complied with proper auction practices during the 2008-2009 season.
Barrett-Jackson ordered the audit to clear any doubts that may have lingered after a 2007 legal action in which a consignor alleged the Arizona auction house had engaged in improper auction activities. Barrett-Jackson, in turn, brought a suit against the consignor, which led to a settlement and exoneration of all allegations against the auction firm.
"The release of this report is part of Barrett-Jackson's continued commitment to transparency in our auction practices," said Craig Jackson, chairman and CEO of Barrett-Jackson. "Particularly in light of stories that have surfaced recently concerning business practices at other car auction companies, we felt the time was right to have an independent review and validation of our auction practices."
Deloitte & Touche performed the examination of Barrett-Jackson's auction records during the summer of 2009. The project, an "attestation" in formal terms, centered on a review of the "assertions" made by Barrett-Jackson's management team that summarize the company's auction-related business practices.
The examination covered Barrett-Jackson's last full auction season, which included the 2008 Las Vegas event as well as the 2009 events in Scottsdale and West Palm Beach. The final Independent Accountants' Report is dated September 17, 2009, and was issued by Deloitte & Touche to Barrett-Jackson on September 29, 2009.
The cover letter addressed to the Board of Directors of Barrett-Jackson Auction Company, LLC reads, in part, "We have examined management's assertions, included in the accompanying Barrett-Jackson Auction Assertions and Criteria listing, that Barrett-Jackson Auction Company, LLC complied with specific criteria listed in the aforementioned listing for their Las Vegas, Nevada auction, which occurred in October 2008, the Scottsdale, Arizona auction, which occurred in January 2009, and the Palm Beach, Florida auction, which occurred in April 2009...In our opinion, Barrett-Jackson complied in all material respects with the aforementioned assertions and criteria for the auctions noted above."
Craig Jackson said his company enlisted the services of Deloitte & Touche to conduct the independent probe "because they are a world class, globally recognized professional services and auditing firm...We wanted to send a clear message about the seriousness of this project..."
Barrett-Jackson's president, Steve Davis, remarked, "Barrett-Jackson is proud of its ethical business practices and dedication to transparency, integrity and fairness in conducting the company's collector car auctions. Particularly in these times of economic turbulence and distrust of the country's financial institutions, we felt that it was a good time to take this proactive step to demonstrate to our customers and others who follow Barrett-Jackson that we offer a fair, trustworthy forum for buying or selling a collector car. It is rewarding to receive this third-party validation that Barrett-Jackson is a place where transparency is honored and customers are treated fairly."
Topics reviewed by Deloitte & Touche in the project included: validity and consistency of Barrett-Jackson's consignment procedures, accurate documentation of the terms of each sale, consistent and documented commission structure on both buyer and seller side, and timely payment of proceeds to consignors.
Davis said he encourages other classic car auction houses to initiate similar independent audits as a sign of good faith to collectors.
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Bloomsbury and Dreweatts form auction powerhouse |
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Written by Auction House PR
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Tuesday, 15 September 2009 00:00 |
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LONDON - Bloomsbury Auctions and Dreweatts have announced a far-reaching and strategic alliance. Initially the two companies will offer each other's services to their growing client bases in the UK and internationally. Bloomsbury will expand its popular monthly ‘Bibliophile' sales which will now be held in Dreweatts' Godalming salerooms, the first being on Wednesday, Nov. 18. Dreweatts, on the other hand, have a number of collections in the pipeline to be offered for sale including wine. These sales will take place in Bloomsbury's London and Rome rooms.
The two auction houses expect to have sales approaching $66.7 million in 2009; last year the two together offered 90,000 individual lots for sale, making them the second largest fine art auctioneers in Britain by number of lots sold.
Bloomsbury Auctions has grown rapidly in the past five years since moving its London premises to Mayfair's Maddox Street and opening salerooms in both New York and Rome. Today Bloomsbury sells more books and works on paper (including manuscripts, prints, posters, watercolours and photographs) than any other auction house in the world; in 2008 it achieved a hammer turnover of $38.4 million including buyers' premiums.
Bloomsbury holds the world record prices for items as diverse as Albert Einstein's letters and Modern First Editions by Ian Fleming and J.K. Rowling.
Dreweatts is the trading name of the Fine Art Auction Group, which has been actively acquiring and consolidating a number of U.K. regional multidisciplinary auction businesses. It trades from flagship ‘country house' premises at Donnington Priory, Newbury and also Bristol, Godalming and Tunbridge Wells. It has become one of Britain's leading regional art and antiques auctioneers, reporting a turnover in 2008 of $26.7 million including buyers' premiums. Particularly noteworthy amongst its successes was the private treaty sale of a collection of ‘First Fleet' watercolors to the National Library of Australia for an undisclosed seven-figure sum, and the auction of a pair of portraits by Jean-Baptiste Greuze belonging to David Cameron's family, which realized over $1.67 million.
"Bloomsbury's business complements ours perfectly. Their world renowned expertise in books and manuscripts fits well with our wide range of disciplines in Britain," said Stephan Ludwig, chairman of Dreweatts. "The London and international dimensions to this strategic alliance will greatly benefit our clients. I cannot imagine a more fitting development to celebrate our firm's 250th anniversary this year."
Rupert Powell, the managing director of Bloomsbury Auctions, said "We have, for some time, been looking to diversify what we can offer in New York and London, as seen by our $1.4 million inaugural sale of wine in New York earlier this year. Dreweatts' depth and breadth of knowledge across the mainstream antiques and decorative arts market, is of a quality that enhances our position as an increasingly significant London West End saleroom."
The alliance will see Rupert Powell joining Dreweatts' board. Stephan Ludwig, by the same token, will be appointed to the board of Bloomsbury's holding company.
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Last Updated on Tuesday, 15 September 2009 07:39 |
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Jordan adds star power to Grey Flannel's Hall of Fame banquet |
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Written by Catherine Saunders-Watson - Auction Central News International
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Friday, 11 September 2009 11:15 |
SPRINGFIELD, Mass. (ACNI) - Grey Flannel Auctions, the Westhampton Beach, N.Y.-based company that produces an auction annually in conjunction with the Naismith Memorial Basketball Hall of Fame, hosted a star-studded banquet last night as the opening event for this year's induction weekend.
The invitation-only reception and dinner, which took place on center court at the Hall of Fame, honored both returning Hall of Famers and the Class of 2009, which will be officially inducted in a ceremony tonight, Sept. 11th. The inductees include (in alphabetical order): Michael Jordan, David Robinson, Jerry Sloan, C. Vivian Stringer and John Stockton.
Jordan's appearance at the Grey Flannel event created a media frenzy, and photographers jockeyed for position when the five inductees lined up onstage for a brief photo op. Auction Central News contributor Chuck Miller was there to document the evening on behalf of Grey Flannel Auctions, who graciously agreed to share a few snaps with our readers.
Grey Flannel's Hall of Fame Induction Auction, which takes place tomorrow, Sept. 12, 2009, will include Internet live bidding through LiveAuctioneers.com. Key lots to be auctioned include the rookie jersey experts believe to be the first one issued to Michael Jordan after he joined the Chicago Bulls, and the actual backboard and rim into which Jordan shot the last-second winning goal for the Bulls in the 1998 NBA Championship Finals.
View the fully illustrated catalog and sign up to bid absentee, or live via the Internet as the sale is taking place, at www.LiveAuctioneers.com.
Copyright 2009 Auction Central News International. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Last Updated on Friday, 11 September 2009 12:18 |
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Case opens Nashville branch, appoints Sarah Drury to VP post |
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Written by Auction House PR
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Tuesday, 08 September 2009 11:11 |
NASHVILLE - Case Antiques Inc., Auctions & Appraisals of Knoxville, Tenn., has announced the opening of a branch office in Nashville. The new office will operate under the direction of Sarah Campbell Drury, who has been hired as Vice President for Decorative Arts.
Drury was formerly president of Campbell-Drury, LLC, an art and antiques appraisal firm in Nashville, and was a contributing writer to several art and antiques publications. She is a graduate of David Lipscomb University and an accredited member of the International Society of Appraisers.
"Since our company's inception, we've had a significant number of buyers and consignments from the Middle Tennessee area and conducted a very successful auction there, the Glen Leven Plantation auction," said company president John Case. "While we will not be opening a second gallery immediately, we do foresee having some future sales in Nashville. More importantly, a physical presence in Middle Tennessee advances our overall strategy to be a strong regional player in the fine art and antiques market. It allows us to build our buyer and consignor base, work more closely with estate attorneys, trust officers and institutions, and to provide better and more convenient customer service, which is our company's hallmark.'
"Sarah has worked with us in a consulting role on several past auctions," Case continued. "We know she has a well-deserved reputation for her broad knowledge base of art and antiques, her communications and marketing skills, and her commitment to integrity and customer care. We're excited being able to offer her services to our auction and appraisal clients through our Nashville office."
Drury said she became acquainted with Case's operations when they helped one of her appraisal clients in handling a large esate. She said she was impressed by the highly successful sales results and exceptional personal attention shown to the consignor.
"Nashville is fortunate to have several landmark antique shows and some top-notch stores, but there has been a great need here for an auction house which can market art and antiques on an international level," Drury said. "I'm honored to be a part of Case's expansion into Nashville."
Case's Fall Art and Antique Auction is scheduled for September 26 in Knoxville. Internet live bidding will be provided by www.LiveAuctioneers.com.
To contact Case, call 865-558-3033 in Knoxville or 615-812-6096 in Nashville. Visit their Web site at www.caseantiques.com.
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Last Updated on Tuesday, 08 September 2009 13:44 |
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Skinner to host free appraisal evening, Sept. 17 in Boston |
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Written by Auction House PR
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Tuesday, 01 September 2009 13:38 |
 BOSTON - Skinner Inc. will host an Evening of Art and Antiques Appraisals on Thursday, Sept. 17, 2009 from 5:00 to 8:00 p.m. in its Boston gallery, located at 63 Park Plaza. The event is open to the public and free of charge. Attendees are encouraged to bring items of interest to learn about both their historic and monetary value.
During the event, Skinner appraisers, who regularly appear on a popular PBS-TV series Antiques Roadshow, will verbally appraise all categories of art, antiques and collectibles, including paintings, prints, jewelry, carry-in furniture, art pottery, art glass, lamps, 20th-century design, Asian works of art, books, manuscripts, clocks, folk art, silver, and much more. Appraisers will provide their opinion on up to three items per person. Photographs can be substituted for very large or fragile items.
Skinner will also be accepting consignments of material brought to the event. Coins and stamps will not be included.
Karen Keane, CEO of Skinner, Inc., commented: "Skinner is pleased to host this event for the people of Boston and beyond. These events enable us to better educate the public on what Skinner and the auction world is all about. While it's the million-dollar auction items that make the headlines, we want people to know that Skinner handles a broad range of art and antiques and that we accept items for consignment year-round in both our Boston and Marlborough galleries."
Keane continued, "These appraisal events are great fun. We just never know what will turn up."
To R.S.V.P. or for more information on Skinner's Boston Appraisal Evening, call Skinner's Boston gallery at 617-350-5400.
Visit Skinner's auction catalogs for past and upcoming sales online at www.LiveAuctioneers.com. |
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Last Updated on Friday, 04 September 2009 10:33 |
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Car sellers file complaints against Kruse auction house |
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Written by Associated Press
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Monday, 31 August 2009 15:18 |
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AUBURN, Ind. (AP) - An automobile auction house known for selling the roadster used in the movie Chitty Chitty Bang Bang and other classic cars is drawing complaints that it has not paid some sellers for months.
The Better Business Bureau of Northern Indiana says it has received 21 complaints about Auburn-based Kruse International this year, up from seven in 2008 and just one in 2006.
Owner Dean Kruse says he owes payments to 66 consignors. He blames the late payments on cash-flow issues caused by buyers who haven't paid him.
Kruse says many of the collectors buying cars are automobile dealers who also are facing financial problems.
He says he expects to catch up with payments after the company's annual Labor Day auction.
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Information from: The News-Sentinel, http://www.news-sentinel.com
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
AP-CS-08-29-09 1101EDT |
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Last Updated on Monday, 31 August 2009 15:50 |
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Owner of Ritchie's Auctioneers retools business with leaner budget, staff |
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Written by Catherine Saunders-Watson - Auction Central News International
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Friday, 28 August 2009 16:05 |
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TORONTO (ACNI) - Following recent published reports of staff upheaval, a seemingly closed gallery and "nervous consignors," the owner and CEO of Ritchie's Auctioneers, Ira Hopmeyer, has spoken at length to Auction Central News, countering what he describes as "sour grapes," and "misconstrued information from sore losers that was conveyed to the media."
Hopmeyer, who bought Ritchie's Auctioneers 15 years ago, is involved with several other businesses, either as an owner or investor. He said he took the initiative to assume control at the auction house after certain events took place that he says occurred without his knowledge.
Toronto's Globe and Mail newspaper reported on Thursday, Aug. 13, 2009, that a small contingent of consignors had congregated in Ritchie's parking lot the day before, hoping to collect either unsold items or money owed to them by the auction house. Instead, the Globe and Mail newspaper said, they found an unattended gallery and a sign on the door advising that the company was on "summer holiday" until Aug. 17. The sign also indicated that the auction scheduled for that day had been postponed.
Further, the article stated that 27 employees had been laid off for financial reasons not long after Sotheby's Canada's abrupt dissolution of a nearly 8-year partnership with Ritchie's, and that the company's president and chief operating officer, Stephen Ranger, had resigned.
Hopmeyer told Auction Central News, "Yes, former management laid off some staff, and yes, Ranger had resigned previous to the layoffs. He had tried to increase his stake in the company and made an offer that was not accepted. He then made a second offer for a lesser share that was accepted, but he later reneged...He wanted [the increased stake] for nothing. I'm not interested in giving it away."
In an Aug. 13, 2009 blog posting attributed to Stephen Ranger, Ritchie's former president writes in part: "The central problem was a liquidity issue that I as a former minority shareholder had no control over, none...Anyone out there who actually believes that I didn't try repeatedly to fix this situation should examine the logic. Why would someone with as much time, energy and commitment to this business leave if I hadn't exhausted every avenue to try and make it right? There have been no underhanded machinations here. Everyone knows at this point that I tried repeatedly to buy this business, to fix it, to salvage it, but ultimately could not."
Hopmeyer - who acted as interim president from 1999 until "2004 or 2005" - said he considers Ranger to have been "very competent with the auction part" of Ritchie's operation, "but not the business part."
On Aug. 3, Hopmeyer stepped in to assume the executive management reins at Ritchie's. He said a trimmed-down team of "loyal employees" has been reinstated to pick up where they left off before the shakeout.
Hopmeyer said he has been at the gallery "24 hours a day," fielding calls, reassuring consignors, and reviewing previous expenditures as he tightens up the going-forward operating budget.
"It's all part of business," he told Auction Central News. "The overhead had gotten out of control. We're not a New York or London auction house. There will be no more fancy cocktail parties, flying around the country or paying outside consultants exorbitant amounts of money. Now we are concentrating on our future auctions. We've been in negotiations and have secured consignors. Everything was delayed for about two weeks, but we'll have our next sale the third week of September."
Because of the current economic climate, Hopmeyer says he expects Ritchie's to be "busier than ever, and we're preparing for that. Especially during a recession, we provide a necessary service."
In an effort to maintain transparency and allay misapprehensions, Hopmeyer has been posting updates on Ritchie's Web site. In his most recent posting, he writes: "Change of management, accounting and company infrastructure have delayed the autumn auction schedule...[we are] work(ing) quickly to resume normal operations and continue to provide the best and most trusted auction services in Canada."
Hopmeyer said he intends to remain in his current, hands-on executive post until "an appropriate new president" can be found. "I'm in no hurry," he added. "I'm kind of liking it. On a daily basis, my accountants give me the bills, and I handle each one personally. It's a learning curve for me."
Hopmeyer said that anyone wishing to collect auction purchases should call 416-364-1864.
Copyright 2009 Auction Central News International. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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About Ritchie's:
Originally established as a trading company in 1868, Ritchie's entered the auction arena in 1967. Headquartered in Toronto, Ritchie's maintains an auction agenda of more than 20 sales per year, with its specialties including fine art, decorative art, fine furniture and jewelry.
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Last Updated on Sunday, 30 August 2009 11:45 |
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Valentine Antique Gallery is home to new full-service auction house |
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Written by Auction House PR
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Tuesday, 25 August 2009 09:07 |
SUNBURY, Ohio - Jo Valentine, co-founder of central Ohio's multi-dealer Valentine Antique Gallery, has established a new offshoot company in partnership with Ohio auctioneer Cynthia Schillig. Known as The Antiques Auction Gallery, the new business will base its operation and conduct its sales at the 12,000-square-foot Valentine Antique Gallery in Sunbury. A debut auction is planned for Friday, Oct. 9, and will include Internet live bidding through LiveAuctioneers.com.
Jo Valentine said the new business was launched to serve a growing need in the region for a full-service auction house specializing in antiques, fine and decorative art, collections and estates.
"When my husband John and I first opened our antique gallery in 2003, we wanted to include auctions, but we were so busy, those plans got sidetracked," said Valentine. "During the six years that we've operated our gallery, we've noticed that there is a need here locally for an antiques and fine-art auction house. There are auctions in central Ohio, but they handle mostly box lots. Not a week passes that we don't get several calls from sons and daughters of parents who are downsizing or who have passed away, telling us they don't know what to do with all the articles in the family home."
Valentine said that when Cynthia Schillig expressed an interest in co-founding an auction company, she knew she had found the right partner for her new endeavor. "Cindi is highly qualified. She has three auctioneer degrees and is a certified estate specialist, but what impressed me most was her love for the auction business and her incredible enthusiasm. For years she had been planning a trip to Greece, but when she thought our first sale might be held in September, at the same time as her trip, she was prepared to change her travel arrangements. I told her, ‘Don't do that. Take your trip, have a great time, and come back refreshed and ready to work.' So that's why we chose October 9th as our first sale date."
Valentine said the plan is to hold monthly auctions featuring fine art, porcelain, pottery, glass, silver, Oriental rugs, lighting, and collections of various types. The premiere auction will contain between 300 and 350 lots.
"Luckily, we have some very knowledgeable dealers selling through our gallery who will serve as our expert appraisers and catalogers," said Valentine. "Another nice feature to our operation is that we have ample gallery space, so the auction goods can be previewed over an extended period of time prior to auction day."
The Antiques Auction Gallery and Valentine Antique Gallery are conveniently located at 579 W. Cherry St. in Sunbury, Ohio, just off exit 131 of Interstate 71, 13 miles north of Columbus and 120 miles south of Cleveland. For information about consigning to The Antiques Auction Gallery, call 740-965-9519. E-mail
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. Visit both galleries online at www.valentineantiquegallery.com. |
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Last Updated on Tuesday, 25 August 2009 10:24 |
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Christie's scuttles plan to establish art-investment fund |
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Written by Catherine Saunders-Watson, Auction Central News International
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Thursday, 20 August 2009 09:47 |
 NEW YORK (ACNI) - According to an Aug. 20 Bloomberg report, Christie's International has scrapped plans to launch an art-investment fund and a lending division that presumably would have competed with arch-rival Sotheby's Financial Services. The report attributes the information to two insiders who had an involvement with the project.
The Bloomberg article states that no fewer than seven employees who were working on the financial projects at Christie's have either been fired or have left the firm.
A downturn in the art market, which had been buoyant prior to the global economic slump, is blamed for the change in plans.
Christie's - which has been owned since 1999 by Francois Pinault, a French billionaire who runs the retail giant Pinault-Printemps-Redoute (Gucci, YSL, Bottega Veneta and other luxury brands) - experienced a 35 percent drop in sales during the first six months of 2009. Christie's worldwide sales of contemporary art declined 69 percent during the first and second quarters of this year.
Christie's International has implemented two rounds of staff cuts this year, first in January, then in June.
In January 2009, Christie's reportedly employed 2,100 people worldwide, although an unspecified number of staff and consultants were soon to be cut due to a worldwide downturn in the art market; later news reports said 300 jobs would be eliminated.
With sales for premier Impressionist, Modern, and contemporary artworks tallying only $US248.8 million compared to $US739 million just a year before, a second round of job cuts began in June 2009, when it was reported that Christie's still had 1,900 people in its employ worldwide.
One of the auction house's "rainmakers" in the sale of Impressionist and Modern art, Guy Bennett, resigned from the auction house just prior to the beginning of the summer 2009 sales season.
Although the economic downturn has encouraged some collectors to sell art, other potential consignors, fearful of the bargain-hunting mentality that currently prevails, have taken a wait-and-see position. In any event, the management at Christie's seem to be doing what any intelligently run business would do to maintain stability in the current economic environment - they're adapting as they wait for a correction to the recessionary curve.
Copyright 2009 Auction Central News International. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Last Updated on Thursday, 20 August 2009 10:08 |
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Cowan's serving up new combo auction, starting Aug. 27-28 |
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Written by Cowan's Auctions Inc.
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Wednesday, 12 August 2009 10:19 |
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CINCINNATI - Cowan's is introducing a new auction that combines consignments from three departments: American History, American Indian and Western Art, and Firearms and Early Militaria. Cowan's plans to hold three of these auctions yearly, in the summer, winter and spring.
The first of the new series will be a two-day auction conducted on Aug. 27 and 28, with Internet live bidding provided by. LiveAuctioneers.com. A full preview will appear soon on Auction Central News.
The auction features lots that don't quite reach Cowan's minimum value requirements for its departmental auctions, for which a catalog is printed. However, all lots are fully described and photographed on Cowan's website: www.cowans.com and LiveAuctioneers.com. "We have found that collectors who bid in auctions for one of these departments often bid in one or both of the other two as well. The categories overlap in such as way that collectors find items of interest in all three. We wanted to give our customers one-stop shopping, so we created this auction," said Wes Cowan, president and principal auctioneer. The first session features more than 200 lots of firearms and related items from the Revolutionary War through World War II. The second session of Day One will be the Indian Art portion of the sale. Day Two is the American History portion, which includes early photographic images and political memorabilia.
Cowan's is located at 6270 Este Ave. in Cincinnati. For details contact 513-871-1670 or e-mail:
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. View the fully illustrated catalog and sign up to bid absentee or live via the Internet during the sale at www.LiveAuctioneers.com. |
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Last Updated on Wednesday, 12 August 2009 11:24 |
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FBI swarms New York auction house in anthrax false alarm |
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Written by ASSOCIATED PRESS
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Monday, 15 June 2009 08:16 |
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SCHENECTADY, N.Y. (AP) - FBI agents created a stir in Schenectady when they swarmed an auction house wearing hazardous materials suits, reportedly to check out a suspicion that there might be anthrax in the trash at the building.
But the episode Friday turned out to be a false alarm.
New York Surplus Auction owner Les Paine says investigators came to his business as part of an investigation into the discovery at a different location of a vial purportedly containing a holistic anthrax vaccine.
Investigators spent the day rifling through garbage outside the business.
Schenectady County Director of Emergency Management Thomas Constantine says preliminary tests came back negative for any dangerous biological agents. ___
Information from: The Daily Gazette,
http://www.dailygazette.com/
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
AP-ES-06-13-09 1059EDT |
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Last Updated on Wednesday, 05 August 2009 17:20 |
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Christie's to open fine art storage facility at Singapore FreePort |
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Written by Auction Central News Staff
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Monday, 18 May 2009 09:51 |
HONG KONG and SINGAPORE - Christie's Fine Art Storage Services (CFASS), provider of customized storage solutions for fine art, antiques and collectibles, will open a new ultra-high-security facility at The Singapore FreePort in January 2010. This long-term offering undertaken in conjunction with The Singapore FreePort Pte. Ltd. underscores Christie's commitment to Singapore and a continued interest in Asian investment.
The Singapore FreePort, supported by the Singapore Economic Development Board (EDB), is the largest freeport dedicated to the storage of fine art and high-value collectibles in the world, and is the first in Asia. Its shareholders include the Singapore National Arts Council and the National Heritage Board of Singapore.
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Last Updated on Monday, 18 May 2009 15:43 |
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