I note with approval how Paul Roberts, vice-chairman of Lyon & Turnbull, rewards his underbidders of items that reach a high hammer.
I have underbid two paintings at auction recently. The first was estimated at £25-40 and made £1200 hammer, the second was estimated at £100-200 and made £4000 hammer.
“I note with approval how Lyon & Turnbull rewards underbidders of items that reach a high hammer
On the latter I calculate the commission earned to be in the region of £1750. I wonder if there is a bottle of wine in it for me?
Christopher Selkirk Selkirk Modern Art Berkshire
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MADAM – Thank you for asking ATG readers for their opinions on the topics raised at your recent round table.
I am a retired art dealer (Malcolm Innes Gallery in London and Edinburgh, 1973-2003) but still deal in a small way from home and from the Scottish Art & Antiques Centre near Dundee.
I have always resented the introduction of the buyer’s premium.
Now, at last, for the first time, an auctioneer has spoken the truth. Adam Partridge of the eponymous firm candidly asked: “What do we actually do for the buyer? I don’t think we do anything for the buyer at all.”
He later added: “We’re exclusively acting for the vendor, as every photo we take and every condition report we complete is in the interest of getting a good price for the vendor.”
Thank you and well done, Mr Partridge.
Malcolm Innes Errol, Perthshire
