Dear Friend,
We are sweltering in this metal shed, grandly called an auction room, preparing our next auction for Thursday the 29th June.
It’s a shadow of our May sale with the Chinese fashion plates fetching £15,000, now paid for and on their way to China. When the property market stands still it has a major effect on our clearances, so this sale is small and only good in parts.
However, we will be entertaining celebrities as we are hosting Antiques Road Trip whose celebrities this edition are …….. Debbie McGee wife of the late Paul Daniels ………. and Chesney Hawkes. Tadaaaa. Remember ‘I am the one and Only’ his 1991 hit? I’ll need you word perfect for sale day!
We have cleared two lovely properties, one in the grounds of Moor Park golf course with its garden joining one of the greens, and a penthouse in Harrow which belongs to a lady who as a child grew up in St Tropez, 80 years ago when it was just a fishing village. Her reminiscences are wonderful.
Seriously though …. the PICTURE section is much smaller than usual, and we have several large mirrors. Oriental RUGS and a very large cream woollen carpet square.
We have JEWELLERY and ART OBJECTS with a charming gold tooth pick case and other small boxes, and SILVER and PLATE is growing daily. I can’t say the shelves are full to bursting, but they will provide you with fresh stock, and we also have a 20th century Venetian chandelier approaching 4 foot in diameter!
We have BOOKS and the TOYS section boasts a Pollock’s Regency Theatre for the play ‘Aladdin’. There are VINTAGE FASHIONS including some designer labels.
FURNITURE includes a cracking table in exotic figured hardwood , made in Denmark by Kurt Ostervig. From the same house, and in the same wood, is an extensive collection of Cado System wall units designed circa 1965 by Poul Cadovius, and a matching coffee table. Otherwise we have good reproduction and antique furniture including a Georgian walnut bureau, two 18th century kneehole desks, a big 18th century chestnut armoire and an 18th century mahogany chest fitted as a desk and dressing table.
It will be online with UKAuctioneers, so register with them for live bidding. And from Sunday evening the catalogue is on our website, with illustrations, at www.bainbridgesauctions.com. Click on ‘catalogue’ and choose an option from there.
See you on Wednesday the 28th 1pm to 7pm for the viewing with the sale the next day starting at 11am.
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IF YOU CAN BE BOTHERED, ON ANOTHER MATTER……….may I draw your attention to new regulations for the auction business that relate to money laundering. I am quoting from a notice kindly sent to us by UK Auctioneers.
Auction Houses have been legally required to perform certain checks on any bidder that cumulatively pays a sum of £12,700 (€15,000) in cash in any given period of time, and the latest mandate which demands full compliancy by 26th June 2017 reduces that amount to £8,400 (€10,000).
This new lower requirement means auctioneers will be further exposed to the AML requirements and find it more often intrudes into their daily business activities.
For example, if a bidder paid cash on goods totalling £700, at 13 sales in the space of a year (totalling £9,100 in cash payments) this meets the threshold for Auction Houses to be conducting Anti-Money Laundering Checks on that buyer.
Furthermore, HM Revenue and Customs (HMRC) expects that businesses have an operating risk based system in place. If a business doesn’t apply its own risk based approach then HMRC will expect that they seek additional verification on payments below £8,400 €10,000) when:
the customer has presented cash in payment for the transaction, which is five times the size of an average transaction for your business
the customer has paid for the transaction by cheque or debit card, which is ten times the size of an average transaction
I thought you might like to know!
