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Local auction house introduces timed online auctions to meet demand

It'll include original 18th-century oil paintings and cased gold coinage.

A Market Harborough auction house is launching timed online auctions, with the very first one taking place this month (July).

The auction will feature an extensive collection of gold coins at 6pm on Sunday, July 25 at Gildings Auctioneers.

An auction of pictures will take place the following Sunday at 6pm on Sunday, August 1.

The new timed online auctions will complement Gildings’ regular schedule of fortnightly Antiques and Collectors auctions and specialist auctions.

The public’s familiarity with the timed online auction format from sites such as eBay, combined with the necessary shift to live online auctions during the pandemic, means Gildings anticipate great interest in this new format from buyers and sellers alike.

Hopeful buyers can bid online 16 days prior to the end date, with bids allowed right up until the published end time.

Mother and Child by Mackenzie Thorpe

Any bids submitted within five minutes prior to the auction’s end will extend the end time by another five minutes to give rival buyers a chance to bid again.

Gildings director Will Gilding commented: “Hosting our first timed online auction is an exciting development for a traditional auction house like Gildings.

"Over the last 18 months, when we haven’t been able to have people in the room bidding live, buyers’ engagement with auctions has been limited to live online auctions, with great success.

"A key benefit of offering timed online auctions is that the exposure time is longer, so lots are seen by more potential buyers, generating more bidding. So, we’re confident that these new auctions can supplement our busy auction calendar throughout the year, enhancing the results for our sellers.”

The introduction of timed online auctions comes as Covid restrictions ease, proving that the enormous surge in the popularity of online bidding platforms during the pandemic shows no sign of abating.

“It goes without saying that you’ll never beat the drama and excitement of a live sale,” says Will. “However, for certain markets, the timed online format can generate its own dramatic climax.

"With gold coins, for instance, standing on a rostrum selling similar items for 100 lots can get monotonous for the auctioneer and buyers, so this is the perfect way for bidders to enjoy securing the item they have their heart set on in the comfort of their own home on a Sunday evening.”

Queen Victoria Golden Jubilee coin set

The picture auction includes over 100 lots of artworks ranging from 18th-century oil paintings to originals by renowned contemporary artist Mackenzie Thorpe such as ‘Mother and Child’, which is estimated at £500 - £800.

“This sale will give buyers the opportunity for a change of scenery, having spent the last 18 months staring at the same walls with prices ranging from £50 to £2,000, there is something for all tastes and budgets.”

The gold coin sale is an unmissable chance for collectors to bid on 132 lots, predominantly gold sovereigns or half sovereigns and other cased sets of gold coinage.

“One of the more historically interesting lots is a Queen Victoria Golden Jubilee four gold coin set from 1887, including £5, £2, sovereign and half sovereign, 68g gross, in its original case which is expected to realise £2,500 - £3,500,” Will added.

“The only non-coin lot is an 18ct gold goblet commemorating the first man on the moon, produced in 1994 and expected to make between £5,000 - £8,000.

"The coins all come from the same deceased estate. In total, we expect the collection to make between £110,000 and £150,000.”

Those interested in selling a similar collection with Gildings can arrange an in-house valuation appointment or a home visit for large or numerous collections.


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