Leading UK Auction House John Pye Auctions is expanding into Mayfair in a move that will see them herald a new digital dawn of online auctions in Old Bond Street.
Established in 1968 by fine art and chattels auctioneer, John Pye, the company has grown substantially and organically to become the UK’s largest independent commercial auction house. John Pye Auctions growth has been fuelled significantly by a full transition from traditional physical auctions exclusively to online auctions over the last four years. During this period, John Pye Auctions has grown from one trading site to 15 across the UK, encompassing six trading divisions: John Pye Auctions, Business Assets, Retail Stock, Rolling Stock, Property and Luxury Assets.
From mid-November John Pye open for business at Standbrook House, 5 Old Bond Street, W1, basing their Luxury Assets, Property and Business Assets divisions in London’s premier luxury heartland. John Pye Auctions now manages over 26,000 asset instructions a year, holding more than 450 online auctions, supported by physical saleroom viewings, offering more than one million lots a year to the auction market. They count some of the leading names in UK banking, lending, retail, insolvency and Central Government authorities as their clients.
Managing Director Adam Pye said of the expansion: “Our move into the heart of the UK’s capital gives John Pye Auctions 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 John Pye boutique 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. John Pye Auctions boutique 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.”
John Pye Auctions 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.
The collection will be sold by online only auction in three parts during November and December 2015. Commenting with a 345 lot auction, the gems which will be previewed at Bond Street from the 11th November, before going under the hammer on the 13th November.
As well as John Pye Auctions boutique 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.