ANTIQUES
Antiques and Collectables with Philip Hoare F.T.V.I
does every cloud
have a silver lining?
Does every cloud have a silver lining? At the
moment it seems they do.
Precious metals have continued to rise
After hitting its high spot at over £19 in 1979
it plummeted over a matter of days back to
they would support the market.
In my opinion with the average silver spoon
its original value of £5 per troy oz. There
and fork now worth between £30 and £40
significantly on the international bullion
was panic selling as those holding too much
each and old trophy cups averaging £80 to
markets with demand continually increasing.
at high cost tried to cash in which caused
£120, now is a good time to sell your silver.
Silver once considered the poor relation of
further panic and more significant price drops.
It is a pointless exercise consigning silver
other precious metals has continued to rise in
to auction because the return to the vendor
tandem with the gold market.
will be reduced by at least a third taking into
Of course anything, whether stocks and
account the seller’s 15 per cent commission
shares or investments, which rise too quickly
plus vat. And the buyer has to pay the
can inevitably fall and there have been blips
auctioneer a buyer’s premium which adds a
in bullion prices. Some may remember the
further 15 per cent plus vat, both of which will
extraordinary rise of silver in 1979 when
reduce the amount the seller receives by at
over a matter of months it rose from just over
least a third.
£5 per troy oz to over £19 per troy oz. That
The point is that an established bullion
figure equates to at least £100 in spending
buyer will pay the days fix on the market so
power based on today’s values – it was
if silver is £20 per oz on the day and an item
extraordinary.
weighs 20 ounces the seller will receive £400
Unprecedented queues formed at the
without any deductions. I want to quantify this
leading bullion brokers in Hatton Garden as
by saying that of course there is a premium
private clients cashed in to sell their silver
on important silver so the value will by a
wares. Massive Victorian centrepieces
significant margin exceed the intrinsic value
weighing 300ozs and 500ozs were worth
of the silver.
thousands of pounds in the pot and their
An example of this is a pair of 18th Century
aesthetic value and quality lost over almost
reaching the magic £20 per troy oz. Many
candlesticks by Ebenezer Coker which I sold
Could this happen again? Who knows;
thousands of pieces of outstanding 19th
markets are volatile but it is probably unlikely
Century silver were lost to the melting pot.
as the biggest buyer China is so cash rich
recently, weight 30 ounces - melting pot £600,
sale value £3,000.
PHILIP HOARE
VALUATIONS
Find out what your
antiques are really worth
VALUATIONS • COMMISSION SALES • RESEARCH
CHANGE OF ADDRESS
Unit A15, Spithead Business Centre,
Newport Road, Lake, IW PO36 9PH
MOBILE: 07773 877242
EMAIL: [email protected]
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VALUATION DAYS
Silver and Jewellery buyer from Knightsbridge, London will attend at Spithead Business Centre for Valuations
without obligation and with total confidentiality. Valuation Days: 1st and 3rd Thursday of every month.
April 4th and 18th from 10.30am – 4pm, May 2nd and 16th from 10.30am – 4pm
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