Pimlico, London UK
November 5th - 15th 2008
Three BADA members with adjoining galleries on Pimlico Road are jointly holding autumn exhibitions. Side by Side is what they call their new venture and, from November 5 to 15, they offer three very different shows. Specialist Nicholas Gifford-Mead presents 'The Grate Exhibition', a celebration of the artistry that went into fire grates and other fire furniture of the 18th and 19th centuries.
Next door, Julian Simon Fine Art puts on 'A Private Eye', a show of naive and primitive paintings from the mid-20th century.
Anthony Outred's exhibition 'Knock Knock' displays antique brass door furniture and it demonstrates the variety, rich colour and fine chasing such metalwork can bring to architectural decoration.
Nicholas Gifford-Mead
Julian Simon Fine Art
Anthony Outred
Wednesday, October 29, 2008
Ebay ban ivory
Ebay, USA
EBAY are to ban the sale of ivory products on its USA site from January, after banning cross-border sales of ivory products last year.
A spokesperson for the online auctioneer said, "We simply can not ensure that ivory listed for sale on eBay is in compliance with the complex regulations that govern its sale".
EBAY are to ban the sale of ivory products on its USA site from January, after banning cross-border sales of ivory products last year.
A spokesperson for the online auctioneer said, "We simply can not ensure that ivory listed for sale on eBay is in compliance with the complex regulations that govern its sale".
Contempoary art hit by credit crunch
The once flying market for contemporary art lost some of its height last week as it felt the force of the economic crisis. Frieze, conducted from a tent in Regents Park from October 15-18 was badly hit as the £66.25 million combined auction total came in under half the estimated value.
Sotheby's, Christie's and Phillips de Pury had all asked consigners to lower their reserve levels before the sales after receiving indications that demand would falter following the worst crisis in banking and the financial sector since the Great Depression.
Phillips de Pury's evening sale on October 18 was the worst affected. The £4.16 million total was under a quarter of presale expectations and the selling rate was 54 per cent.
Christie's contemporary art evening sale the day after totalled £28 million hammer, well bellow the pre-sale low estimate £57 million, with the selling rate at 55 per cent.
Sotheby's evening sale on October 17 made £18.8 million hammer against a £30.1 million pre-sale low estimate. they managed to sell 73 per cent of the 62 lots. The majority went for under their low estimates, including the top lot, an Andy Warhol Skull, which was guaranteed and estimated at £5-7 million, it sold to a New York dealer for £3.85 million.
Sotheby's, Christie's and Phillips de Pury had all asked consigners to lower their reserve levels before the sales after receiving indications that demand would falter following the worst crisis in banking and the financial sector since the Great Depression.
Phillips de Pury's evening sale on October 18 was the worst affected. The £4.16 million total was under a quarter of presale expectations and the selling rate was 54 per cent.
Christie's contemporary art evening sale the day after totalled £28 million hammer, well bellow the pre-sale low estimate £57 million, with the selling rate at 55 per cent.
Sotheby's evening sale on October 17 made £18.8 million hammer against a £30.1 million pre-sale low estimate. they managed to sell 73 per cent of the 62 lots. The majority went for under their low estimates, including the top lot, an Andy Warhol Skull, which was guaranteed and estimated at £5-7 million, it sold to a New York dealer for £3.85 million.
Paint diverted from landfill
RESEARCH conducted by environmental consultancy Resource Futures has shown that the UK paint reuse network diverted 450,000 litres of paint from landfill in 2007.
The 65 Community RePaint projects that form the network collected the equivalent of £1.75 million worth of paint. The findings revealed that 50% of the paint was leftover half-tins donated by the public at council waste sites. The other 50% was end-of-range and discontinued lines, dented tins, donated by DIY retailers and manufacturers and decorators. the paint was then offered for use by local charities, community groups and individuals in social need to brighten up their living and working environments.
The 65 Community RePaint projects that form the network collected the equivalent of £1.75 million worth of paint. The findings revealed that 50% of the paint was leftover half-tins donated by the public at council waste sites. The other 50% was end-of-range and discontinued lines, dented tins, donated by DIY retailers and manufacturers and decorators. the paint was then offered for use by local charities, community groups and individuals in social need to brighten up their living and working environments.
Friday, October 24, 2008
Dream team buys Antiques Trade Gazette
London UK - METROPRESS, the publishers of Antiques Trade Gazette and owned by the Daily Mail (DMG), has been taken over by a management buyout team of Anne Somers (managing director), Mark Bridge (editor-in-chief), Simon Berti (sales director), Pablo Luppino (finance director), and an additional director with an IT bias, Bob Fairchild from geo online info group Landmark, a former Matrix client itself now owned by DMG.
Word on the street is that profitability of the ATG is down, with costs rising and auction ads sales falling, which is why DMG moved to divest itself of ATG, as well as some of its US niche antique publications. ATG has turned from passive auction advertising and news, to providing printed auction catalogues and now software for auction houses live auctions with thesaleroom.com. More recently ATG has set up another division providing software for general auction sales with i-bidder.com.
The buyout was supported by HSBC and Matrix venture capitalists. ATG's turnover is £6m with staff of 53. Matrix normally buys businesses worth between £5m and £20m and has taken less than half the equity of the new venture. DMG employs 16,000 with £2bn worldwide turnover from newspapers, magazines, TV, radio and trade shows, including Newark antiques fair, Ardingly, Shepton Mallett etc. The DMG ATG deal does not include the antique fairs, which over the years have also been rumoured to be losing money.
DMG gave as a reason for the sale that 'ATG is no longer strategically aligned with our long term objectives'.
MATRIX GROUP PRESS RELEASE:
MBO OF METROPRESS LTD
3rd October 2008: Matrix Private Equity Partners (MPEP), the small buyout specialist, has invested into the MBO of Metropress Limited (‘Metropress’). Metropress publishes the Antiques Trade Gazette (‘The Gazette’), the leading weekly newspaper that provides the latest in market information, news and analysis to art and antiques trade professionals and collectors in the UK. Acknowledged as the ‘Bible’ of the fine art and antiques industry, The Gazette is a newspaper for serious buyers and sellers. MPEP has taken a significant minority stake in the business.
Based in London and Chelmsford, Metropress was established by a journalist in 1971, in order to launch The Gazette. The first publication to serve the antiques trade, it provides an accurate, balanced and impartial view of the art and antiques business and over this time, has built up a degree of prestige and trust unrivalled by other publications. As the first choice publication for auction industry advertising, The Gazette also publishes advertising for fairs, galleries, packers, shippers, insurers, career opportunities and a host of other services.
In 1994, Metropress was acquired by Daily Mail and General Trust PLC (‘DMGT’), and since then has largely been left to its management to run as a stand alone business, with DMGT supplying some central services. In 2000, Metropress leveraged its existing auction house relationships by offering to manage their catalogue printing requirement. This has now been extended to offer an on-line option. In 2006, management launched the idea of Live Auctions, in order to address the potential offered by the internet. The business currently employs 53 people and its annual revenue is in excess of £6 million.
The strong management team that has been responsible for implementing the transition of the business from a paper-based publisher to one with an on-line presence, will be further augmented by the introduction of one of MPEP’s Operating Partners, who has significant experience in the sector. MPEP has introduced Bob Fairchild as investing Non-Executive Chairman to the management. Fairchild is particularly suited to the deal, having previously been Managing Director of a successful joint MPEP and 3i investment, Landmark Information Group, which was sold to DMGT.
Anne Somers, Managing Director of Metropress said: “Matrix Private Equity Partners’ supportive backing combined with Bob Fairchild’s expertise and vision will really help to exploit the potential of the business. We very much welcome the investment by MPEP.”
Jonathan Gregory of Matrix Private Equity Partners said: “Whilst we recognise that advertising spend may in the short term be susceptible to the prevailing economic environment, the transaction is modestly geared and we have built in protection to ensure that the VCT’s receive their yield. This, strengthened by the involvement of Bob Fairchild as Non-Executive Chairman, and a management team that has delivered strong profit and cash generation for its current owner and Metropress, means that the business is well placed to deliver further growth.”
- Ends –
Advisors:
Matrix: Baker Tilly (London) – Stephen Mason and Kurt Tiedt, accounting due diligence
PBD Consulting (London) – Lisa Whelan, commercial due diligence
Marriott Harrison (London) – Duncan Innes, Jonathan Leigh-Hunt, Ben Devons, Hugh Gardner, Rebecca Briam and Chloe Hymas (legal)
Management: Vantis Corporate Finance (London) – Philip Marsden, Francesca Granelli and Mathew Lunn (corporate finance)
Lewis Silkin (London) – Philip Lamb and Nadim Khan (legal)
Bank: Pinsent Masons (Birmingham) – Victoria Baker (legal)
Matrix Private Equity Partners – Jonathan Gregory, Eric Tung
For further information, please contact:
Equity Dynamics
Corinna Vere Nicoll 07825 326 440
Jane Kirby 07825 326 441
Word on the street is that profitability of the ATG is down, with costs rising and auction ads sales falling, which is why DMG moved to divest itself of ATG, as well as some of its US niche antique publications. ATG has turned from passive auction advertising and news, to providing printed auction catalogues and now software for auction houses live auctions with thesaleroom.com. More recently ATG has set up another division providing software for general auction sales with i-bidder.com.
The buyout was supported by HSBC and Matrix venture capitalists. ATG's turnover is £6m with staff of 53. Matrix normally buys businesses worth between £5m and £20m and has taken less than half the equity of the new venture. DMG employs 16,000 with £2bn worldwide turnover from newspapers, magazines, TV, radio and trade shows, including Newark antiques fair, Ardingly, Shepton Mallett etc. The DMG ATG deal does not include the antique fairs, which over the years have also been rumoured to be losing money.
DMG gave as a reason for the sale that 'ATG is no longer strategically aligned with our long term objectives'.
MATRIX GROUP PRESS RELEASE:
MBO OF METROPRESS LTD
3rd October 2008: Matrix Private Equity Partners (MPEP), the small buyout specialist, has invested into the MBO of Metropress Limited (‘Metropress’). Metropress publishes the Antiques Trade Gazette (‘The Gazette’), the leading weekly newspaper that provides the latest in market information, news and analysis to art and antiques trade professionals and collectors in the UK. Acknowledged as the ‘Bible’ of the fine art and antiques industry, The Gazette is a newspaper for serious buyers and sellers. MPEP has taken a significant minority stake in the business.
Based in London and Chelmsford, Metropress was established by a journalist in 1971, in order to launch The Gazette. The first publication to serve the antiques trade, it provides an accurate, balanced and impartial view of the art and antiques business and over this time, has built up a degree of prestige and trust unrivalled by other publications. As the first choice publication for auction industry advertising, The Gazette also publishes advertising for fairs, galleries, packers, shippers, insurers, career opportunities and a host of other services.
In 1994, Metropress was acquired by Daily Mail and General Trust PLC (‘DMGT’), and since then has largely been left to its management to run as a stand alone business, with DMGT supplying some central services. In 2000, Metropress leveraged its existing auction house relationships by offering to manage their catalogue printing requirement. This has now been extended to offer an on-line option. In 2006, management launched the idea of Live Auctions, in order to address the potential offered by the internet. The business currently employs 53 people and its annual revenue is in excess of £6 million.
The strong management team that has been responsible for implementing the transition of the business from a paper-based publisher to one with an on-line presence, will be further augmented by the introduction of one of MPEP’s Operating Partners, who has significant experience in the sector. MPEP has introduced Bob Fairchild as investing Non-Executive Chairman to the management. Fairchild is particularly suited to the deal, having previously been Managing Director of a successful joint MPEP and 3i investment, Landmark Information Group, which was sold to DMGT.
Anne Somers, Managing Director of Metropress said: “Matrix Private Equity Partners’ supportive backing combined with Bob Fairchild’s expertise and vision will really help to exploit the potential of the business. We very much welcome the investment by MPEP.”
Jonathan Gregory of Matrix Private Equity Partners said: “Whilst we recognise that advertising spend may in the short term be susceptible to the prevailing economic environment, the transaction is modestly geared and we have built in protection to ensure that the VCT’s receive their yield. This, strengthened by the involvement of Bob Fairchild as Non-Executive Chairman, and a management team that has delivered strong profit and cash generation for its current owner and Metropress, means that the business is well placed to deliver further growth.”
- Ends –
Advisors:
Matrix: Baker Tilly (London) – Stephen Mason and Kurt Tiedt, accounting due diligence
PBD Consulting (London) – Lisa Whelan, commercial due diligence
Marriott Harrison (London) – Duncan Innes, Jonathan Leigh-Hunt, Ben Devons, Hugh Gardner, Rebecca Briam and Chloe Hymas (legal)
Management: Vantis Corporate Finance (London) – Philip Marsden, Francesca Granelli and Mathew Lunn (corporate finance)
Lewis Silkin (London) – Philip Lamb and Nadim Khan (legal)
Bank: Pinsent Masons (Birmingham) – Victoria Baker (legal)
Matrix Private Equity Partners – Jonathan Gregory, Eric Tung
For further information, please contact:
Equity Dynamics
Corinna Vere Nicoll 07825 326 440
Jane Kirby 07825 326 441
Lapada and the BBC
Earlier this year Sarah Percy-Davis of Lapda wrote to Mark Thompson, Director-General of the BBC, expressing the concern of many Lapda members that programmes such as The Antiques Roadshow, Bargain Hunt and Cash in the Attic do not make members of the public aware of the various charges and costs of buying and selling at auction. She asked the Director-General to encourage the editors of these programmes to give a more balanced representation of the trade.
A few weeks later Sarah received a reply from mark Thompson which made it clear that the programme makers responsible for all three programmes, and also for Car Booty, another BBC programme, had been shown her letter. Inevitably, they all defended their positions.
With regards to Bargain Hunt the letter stated: "The programme intends to continue to remind their viewers, where appropriate, of the costs of buying and selling at auction." The makers of Antiques Roadshow said they believe that most of their valuations are dealer valuations, as opposed to auction prices, and Cash in the Attic claimed they regularly include the line: "remember if you're thinking of buying or selling at auction, there are various fees to be taken into account, such as commission."
A few weeks later Sarah received a reply from mark Thompson which made it clear that the programme makers responsible for all three programmes, and also for Car Booty, another BBC programme, had been shown her letter. Inevitably, they all defended their positions.
With regards to Bargain Hunt the letter stated: "The programme intends to continue to remind their viewers, where appropriate, of the costs of buying and selling at auction." The makers of Antiques Roadshow said they believe that most of their valuations are dealer valuations, as opposed to auction prices, and Cash in the Attic claimed they regularly include the line: "remember if you're thinking of buying or selling at auction, there are various fees to be taken into account, such as commission."
Thursday, October 23, 2008
Pub demolition sparks woman's anger
Scarborough, UK
A SCARBOROUGH artist says items inside a former Scarborough pub, which is being demolished, should have been recycled and reused rather than destroyed. Eileen Heaton, 62, of Gildercliffe, has seen items including a fridge, washing machine, cooker, microwave, gaming machines, furniture and carpets, light fittings, beer pumps, till and even glasses being destroyed as part of the demolition of the Barrowcliff pub.
The site is being cleared to make way for a new care home for elderly people.
Mrs Heaton, who is a painter, said: “They’re literally smashing through and taking everything with it. It’s very upsetting to see and a lot of stuff could have been recycled. Many people I have spoken to as well as myself have felt that the contents could have been recycled, sold or donated.”
Joanne Williams, business development manager at Redworth Construction, said: “Just about everything in the building could not be re-used as there had been so much deliberate vandalism.
“However, everything that is taken away by the skip companies is recycled at the other end. They have Government targets to fulfill so they actually sort all the material and send it to various places to be recycled. If we were to sort it at this end it would be incredibly time-consuming.”
Scarborough Evening News
A SCARBOROUGH artist says items inside a former Scarborough pub, which is being demolished, should have been recycled and reused rather than destroyed. Eileen Heaton, 62, of Gildercliffe, has seen items including a fridge, washing machine, cooker, microwave, gaming machines, furniture and carpets, light fittings, beer pumps, till and even glasses being destroyed as part of the demolition of the Barrowcliff pub.
The site is being cleared to make way for a new care home for elderly people.
Mrs Heaton, who is a painter, said: “They’re literally smashing through and taking everything with it. It’s very upsetting to see and a lot of stuff could have been recycled. Many people I have spoken to as well as myself have felt that the contents could have been recycled, sold or donated.”
Joanne Williams, business development manager at Redworth Construction, said: “Just about everything in the building could not be re-used as there had been so much deliberate vandalism.
“However, everything that is taken away by the skip companies is recycled at the other end. They have Government targets to fulfill so they actually sort all the material and send it to various places to be recycled. If we were to sort it at this end it would be incredibly time-consuming.”
Scarborough Evening News
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