Island Life Magazine Ltd December 2013/January 2014 | Page 34

ANTIQUES

Antiques and
Collectables with
Philip Hoare F.T.V.I

Philip Hoare

I

talks antiques

www.visitislandlife.com

T

he fact is you never
know if that item
is worth lots or just
ways
junk. My tip is to al
it the
get an expert to give
and Auction Rooms,
once over. We, at Isl
y to come out and
will always be happ
the photograph was
visit you. The item in
of
ily who had no idea
sourced from a fam
igned to our Antique
its true worth. Cons
ted
the net it was contes
sale , illustrated on
d sold to a collector
by ten phone lines an
a rare
for £240,000 and is
Polynesian paddle.

Amber catches
n
the imaginatio

A bumper November sale at Island Auction
Rooms saw some fine results. With a packed
room and over 900 bidders logged on to
bid live via the internet prices soared. A lot
of jewellery created international interest;
it contained some Amber and was probably
Victorian. The phones and internet took it up over £1,000
then a dealer in the room took it up over £2,000 finally
selling to him for £2,600. So where does director Warren
Riches think the growth will be in 2014? “As always it
will be quality that sells well. Good jewellery, silver and
gold will be strong,” he said. “Using the advanced bidding
technology we have here at Island Auction Rooms I can
see the demographics of bidding around the world."

LD

34

Warren Riches:
Ask an expert!

SO

am regularly asked what are the benefits of consigning
to auction when the commissions are so high the buyer
and the seller both have to pay commission, plus VAT. So
effectively the seller will lose a third of value.
However, if a piece is of significance of fine quality rarity
or by an outstanding artist or craftsman, or has impeccable
provenance it must be consigned to the right auction in
order to achieve its true worth.
The world is now the market place with vast amounts of
money being invested in traditional and contemporary art
and antiques buyers mostly investors with little knowledge,
just vast amounts of disposable cash. Buying from a premier
auction house which guarantees their descriptions gives
these buyers the confidence to pay these extraordinary prices.
I have had for many years consigned to Christies on behalf
of my clients. And I have proved time and time again that a
combination of rarity and quality thoroughly researched and
placed in the right auction can achieve exceptional results.
For general antiques, sale by auction is the most
convenient method of disposal, but always take more than
one opinion before consigning as there might be a ‘sleeper’
amongst those residual effects.
I read recently in a trade journal that an agate seal
purchased in a miscellaneous box lot for a few hundred
pounds had just sold in an Islamic Auction for a £1million.
I still believe that knowledge is paramount. The search
engines on the internet will only identify an item if it
has been correctly catalogued. So remember, when in
doubt always check it out. An item which might appear
insignificant might change your life forever. The one area
that I advise strongly against selling by auction is gold
and silver. There is a daily fix on the world precious metals
market and the fix is totally achievable if for instance the
day’s fix on a Kruger Rand 1oz 22 carat gold is £900 that is
the price you will be paid. By selling at auction you will lose
almost 40 per cent of value with the buyer’s and seller’s
premium and Government tax. The same applies to silver, so
to use a colloquialism it is a no-brainer. I am happy to try to
answer questions on my subject. If I don’t know the answer I
will know a specialist who does.

Tips!