Blog Post No.130
The World of Auctioneering with Will
WILL RICHARDS, DEPUTY CHAIRMAN AND A DIRECTOR OF DREWEATTS
Will is an experienced art professional with vast knowledge of many aspects of the process. For anything related to art, including logistics , Will works within a group of companies who offer the entire spectrum of services any art collector may need.
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This week’s topic is auctioneering. One of the oldest business models in the world, auctioneering in its modern form started around the mid-17th century, with the major auction houses of today starting around the mid-18th century.
Will shares his views on the current auction market, how the pandemic has affected their business model, and the rise of the online auction market. He shares that auctions are not just about sales, there is an element of valuations for all sorts of reasons, like Capital Gains Tax or Estate planning for example. And he comments on how the traditional work flow model in terms of collectors and interior designers has adapted to being in the online space.
Whether you are a collector, an art enthusiast or an antique lover, auctions are a great place to purchase items that might never be seen in a modern shop.
We have spoken to Will in more detail about the history and evolution of the auction houses here.