Mallett Antiques & Dreweatts 1759: the proposal for consignors
The relationship between Mallett and Dreweatts permits the creation of a transparent Private Treaty department operating as a traditional gallery with a programme of exhibitions at Donnington Priory and international art fairs, such as Masterpiece. This unique approach will bridge the traditional divide between auctioneer and dealer and will provide a full route to market. Exceptional and rare items will be presented in a retail format whilst Dreweatts’ sales calendar offers regular selling solutions for consignments more suitable for auction.
Collectors and executors of estates will benefit from the wide reach of both retail and auction disciplines combined with access to HMRC compliant probate valuations and a dedicated Estates and Collections department to manage the process.
The combined force of Mallett and Dreweatts presents sellers with a genuine one stop shop. The initial consignment period will be accompanied by an agreed and bespoke marketing campaign to include exposure at exhibitions and relevant international art fairs, supported by print and digital advertising. Promotions will be individually designed to achieve a retail sale at a premium price.
Clients will also have the opportunity to agree a structured dual agency agreement whereby the 6 or 12 month retail period will be followed by a contractual agreement for the consignment to be included in an appropriate auction, if not sold during the retail period. This structured approach will establish a clear timeframe for vendors in which property will be actively marketed to buyers at a retail price with potential purchasers also made aware of the longstop auction date. Likely buyers will have the opportunity to ‘buy it now’ or they can wait for the auction. The respective retail and auction formats create a useful tension and the timing of the first allows us to build strategic buyer lists to complement the structured marketing plan.
Retail vendors will be charged a commission rate on a sliding scale determined by value with any conservation and marketing costs either deducted from the proceeds on a successful sale or paid prior to the return of unsold consignments. Dual agency agreements covering both retail and auction will offer a 0% vendor’s commission on auction sales if this option is selected from the commencement of the consignment.