With hubs in Nottingham and Uttoxeter, the new division is the fifth in the auctioneer’s expanding portfolio that offers a range of luxury asset classes, including jewellery, precious gem stones, luxury watches, prestige vehicles, cherished registration plates, fine art and antiques.
It will be led by experienced appraisal, valuation and auction management team including manager Paul Hird, managing director Adam Pye, business development director Sheldon Miller and IT director, Jeff Foster.
Adam Pye, John Pye Auctions managing director, said: “This is an exciting development for the John Pye brand. We believe we can offer both the client and the customer a new, exciting and innovative route to market with greater reach and realisation.
“We have already achieved this through the success of John Pye Property, Retail, Professional Services and Rolling Stock (vehicles & plant).”
The Luxury Assets Division currently has a salesrooms in Nottingham with a further salesrooms being created in Marchington. The division currently holds a fortnightly online auction of luxury watches and jewellery from its Nottingham HQ on behalf of UK dealers, with plans to expand operations and sales nationally in the next 12 to18 months.
Adam said the division has big plans for growth: “We have put a great deal of planning, preparation, time and investment worth over £1 million into this new division.
“We have launched a John Pye Luxury Assets saleroom at our East Midlands Auction Hub in Nottingham, we are nearing completion of building works for a second saleroom at our 11-acre West Midlands Auction Hub in Marchington, and we also have exciting plans for further salerooms in strategic locations throughout the UK.”
Over the last four years John Pye Auctions has grown to become the UK’s largest independent commercial auction house, expanding from one trading site to 11. The firm now holds more than 400 auctions a year and recently broke through the one million lot auction sales barrier for the fourth year growth period and is on course for its third consecutive record auction sales year.
The firm is currently planning an exclusive auction offering of luxury assets for a private client which will see John Pye Luxury Assets Division marketed nationally and internationally.
Sheldon Miller, business development director, said: “This particular offering is of national and international significance within its luxury asset class and we are honoured to have been bestowed this instruction by our private client.
“We have been working on this particular project for the last six months and within the next two months it will be presented and previewed to market. We anticipate major worldwide interest once the collection is revealed in its entirety.
“The luxury assets in question are a once-in-a-generation auction offering, which have taken a lifetime to source and collect by our client. Luxury assets by virtue are aspirational. For any asset class to be truly aspirational it must be attainable and accessible for purchase, for the right price.
“Our online auction platform provides privacy and accessibility for high net worth individuals whilst also creating the widest gateway for aspirational buyers, overall upholding a transparent process. We’re positive about the benefits this can bring to both buyers and sellers in this market and the journey ahead.”
Ian Hall – respected UK fine art, antiques and artefacts valuer – will oversee the new division bringing with him 30 years’ experience. Ian specialises in research, value and auction management of fine art, antiques, watches, jewellery and other luxury items.