Established in 1968 by fine art and chattels auctioneer, John Pye, our company has grown substantially and organically to become the UK’s largest independent commercial auction house. Our growth has been fuelled significantly by a full transition from traditional live auctions exclusively to online auctions over the last four years. During this period, we have grown from one trading site to 15 across the UK, encompassing 5 trading divisions: John Pye Vehicles, Business Assets, Retail Stock, Property and Luxury Assets.
From mid-November 2015 we will open for business at Standbrook House, 5 Old Bond Street, W1, basing our Luxury Assets divisions in London’s premier luxury heartland. Due to our rapid growth, we now manage over 26,000 asset instructions a year, holding more than 650 online auctions, supported by public saleroom viewings, offering more than one million lots a year to the auction market. We count some of the leading names in UK banking, lending, retail, insolvency and Central Government authorities as our clients.
Managing Director Adam Pye said of the expansion: “Our move into the heart of the UK’s capital gives us a strategic foothold in both Central London and the South East. It further demonstrates our commitment to serving our extensive portfolio of commercial and private clients through our UK-wide network of offices, salerooms and storage facilities.”
“The space will primarily act as a boutique showroom for our Luxury Assets division, but will also headquarter our expanding Property and Business Assets divisions. From here we will be offering our wide range of professional valuation, appraisal and property services to clients in London and the South.”
The company is a co-founding member of the UK’s National association of Valuers and Auctioneers (NAVA), as well as a co-founding managing shareholder of the UK’s Nationwide Disposals Agency (NDA).
The luxury showroom will herald a new digital dawn in Bond Street of initially host a series of bi-weekly online only auctions and pre-sale viewings of high-end luxury jewellery, diamonds, gemstones and watches; curated for the discerning collector, investor and luxury consumer.
John Pye Business Development Director, Sheldon Miller, added:
“It’s the dawn of a digital age in Old Bond Street. Our new showroom in Mayfair’s Old Bond Street now affords our clients with a strategic gateway to the international market for luxury, property and business asset offerings.”
“Coupled with our tried, tested and established online auction platform, John Pye provides luxury auction offerings equate to wider market engagement.”
“We have developed the brand and the business to successfully offer a full comprehensive mix of stock and assets online, including property, attracting new customers to the auction market space. We offer a very different auction experience, more accessible and more convenient.”
Our organic growth, from bricks to clicks, across the UK has seen its registered bidder database grow by 1,304% over the last four years to 137,000 registered bidders.
The first assets to go under the hammer at the new Mayfair premises will be a 688 lot collection of natural gemstones of the highest quality and rarity. With conservative estimates ranging from £1,000 – £42,000, the David Jerome Collection is considered to be the largest private collection of ethically sourced natural gemstones to be sold in the UK or Europe for a generation.
Amongst the signature pieces particular interest is expected to be generated in a 133 carat Tanzanite heart ring set in white gold with diamonds, estimated to sell for between £38,000 and £42,000, and a pair of 35 carat oval cut Emerald earrings set in white gold. Sourced from Zambia, the earrings are estimated at £500,000 to £600,000.
As well as the new opening in Europe’s premier luxury haute couture street in Mayfair, the firm is also set to open a Scottish auction hub on the outskirts of Edinburgh.