Chattels Forum proves an informative and enjoyable day for all

Tuesday, May 10, 2011

The NAVA Forum for Chattels Valuers and Auctioneers was held at the Belfry, on 9^th May 2011, and was a thoroughly enjoyable day for all who attended.

The day began with Shaun O'Neill from Gabriel Ltd, who presented a new proof concept of a valuation and reporting solution tool, which converges speech recognition, dictation, voice to text and handwriting into a table PC.  It was received well by delegates and suggestions were offered to Shaun as to what amendments to the concept would provide useful.

Chris Hamer from the Property Ombudsman, gave delegates an insight into the structure of resolving disputes and the approaches taken to resolve these and issues potentially giving rise to complaints. He highlighted the obligations related to auctioneers and the process taken by the Property Ombudsman in resolving the disputes.

An overview from the Agricultural Perspective and current issues for machinery auctions were presented by Jeremy Moody, CAAV. Discussing the sale of vehicles was a hot topic among delegates, in relation to ensuring buyer roadworthiness.

Anti-Money laundering was presented by Liz Richard from NFOPP along with HMRC and OFT. Delegates had the opportunity to hear all about the latest developments, and the role that the HMRC and OFT play in the auctioneering industry, as well as reconfirming the obligations to all.

Nick O'Reilly, Director of FRP Advisory LLP, returned to the Forum after a very well received presentation in 2010. Nick did not disappoint and delivered delegates an interesting, amusing and extremely useful insight into the impact the economy has had on the recovery industry. Nick talked about historic and current insolvency statistics, showing that although in 2010 liquidation and insolvency numbers have decreased, the recession and recovery feels wrong and there are a lot of companies in the 'zombie' state. Nick also spoke about bank attitudes and the need for balance sheet strengthening. He also discussed HMRC not making money and that overheads have been cut to the bone.  He highlighted that GDP for the first quarter of 2011 shows small growth and that recovery will be slow and painful.

Charles Hampshire, winner of the NAVA Auctioneer of the Year Award 2011 conducted a charity auction, and two lots were sold, which raised £400 for the NFOPP Benevolent Fund.

Antiques Trade Gazette kindly agreed to sponsor the event and presented on auction price trends for fine art and chattels auctioneers. Simon Berti, Jon Peacock and Richard Lewis presenting the trends. Among many of the trends produced using the-saleroom.com's extensive database of 3 million realised prices in the ceramics category, lalique had risen by 205% and unsurprisingly gold and gold cufflinks has risen 175% and 191% respectively. Top rise of the year was Qianlong at 327% and top faller goacuhe at 28%.

Last, but by no means least, Stephen Whittaker and Geoff Whitefield gave an entertaining and informative talk about hidden gems. Stephen looked at the differences between estimations and prices of lots sold for at auction. Among these he presented on a chinese imperial white jade bell, with an estimate of £200-30K which sold for £3.4M at Wooley & Wallis in May 2010, and a giacometti  bronze, with an estimate of £12-18M which sold for £65M at Sotherby's in February 2010. Geoff gave an informative talk on second hand watches, and the importance of knowing both the brand and the collection. He demonstrated the differences, and highlighted common problems with valuing watches and what to look out for.

Melfyn Williams, NAVA Chairman concluded the day with an Open Forum discussion where questions and opinions of the delegates were aired and discussed. 

NAVA's gratitude goes to all speakers, ATG as sponsor and Charles Hampshire, who conducted the Charity Auction for making the day a success.

NAVA's next Forum will be held on Thursday, 29 September 2011 at the Chesford Grange, Warwickshire. Put the date in your diaries!