Westpoint sale 2008

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This topic contains 26 replies, has 11 voices, and was last updated by  gbl 11 years, 4 months ago. This post has been viewed 1891 times

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  • #6328

    CID
    Participant

    afternoon all,Bearn's;It's going to be a long day on the 12th April, the catering at Westpoint 2004 was particularly crap. Can you arrange for something better than kitcats and cups of stewed tea? The sales hall is massive and gets very cold, can you turn the heating up a little this time round.The word;Word reaches us that the reason for the hurried sale, 4 weeks notice, is because of declining credit conditions, the executor fears a declining market capacity to absorb more Lenkiewicz, credit is getting squeezed, discretionary spending under pressure, job security under threat and house prices in decline as the country feels the first effects of an impending recession.What chance people will freely waive their credit cards to buy just anything this time round?There were some good pieces sold at Westpoint 2004, but they amounted to no more than 20 lots out of the 600 sold that day - The executor said in 2004 it was the "Last chance for people to buy ...." at that time and managed to create a frenzy. The effect was to raise good money for rather poor work that may command a faction of its sale price today, people bought through emotion rather than common sense in 2004.Can Walmsley pull the same trick off again?

    #9808

    gbl
    Participant

    credit is getting squeezed, discretionary spending under pressure, job security under threat and house prices in decline as the country feels the first effects of an impending recession.What chance people will freely waive their credit cards to buy just anything this time round?

    Its interesting all the talk of 'credit crunch', the banks, the US, etc., it has'nt trickled down to the consumer yet! They are still shopping on the high street as much as ever! and check-out this link...http://www.thisisexeter.co.uk/displayNode.jsp?nodeId=137015&command=displayContent&sourceNode=136999&contentPK=20293941&moduleName=InternalSearch&formname=sidebarsearch...reporting that house prices in the South West rose by 4.1% over the last 12 months!! Unlucky for the rest of the country (if it is falling elsewhere), but there's no recession just yet!I am also more optimistic about sales results at Westpoint - I think I read somewhere about being able to bid online at this sale? If thats the case then it opens up more potential bidders. Especially those who go to see it to see the work - like going to an exhibition - and then deciding that they might like a souvenir from their visit, so they could bid from their armchair without having to go back on the sale day!! I think there could be a feeding-frenzy? just as much as there could be a struggle to 'just about' shift all the lots?

    Word reaches us that the reason for the hurried sale, 4 weeks notice, is because of declining credit conditions, the executor fears a declining market capacity to absorb more Lenkiewicz,

    That may have something to do with it, but one of the reasons for the hurried sale is the agonizing length of time it is taking to wind-up the estate - they were prompted to hurry it up!However, I wouldn't know if the Lenkiewicz market has petered out yet? There's a bit of a glut of unsold prints on ebay at present if that says anything about the Lenkiewicz print market.I will be very interested to know what TLF will do with the copyright once they inherit it!!!

    #9809

    CID
    Participant

    There is an economic shit storm heading through this country. It's good news that the price of pasties are holding up in the westcountry though. But all sectors, commodities, fuel and interest rates are out of control – Inflation trending up, denying the BOE any room for IR relief.Interesting article you posted. Here are the two readers comments posted against it, real people with real exposure;Prices are falling massively here. These land registry figures are months behind due to the way they are collated and don't reflect the large falls which are happening now. It is looking like a 20% fall this year alone. Gavin, Exmouth Anyone who thinks the current trend of prices continually rising will be in for a very large shock (has all the hallmarks of bust and boom politics). The usually infallible Buy to Let squad will also be in a lot of trouble too. Sub prime lenders are beginning to go down the pan and reeling in the amounts they are willing to lend. Bring on the crash and let the generation of enforced nomads revel in the outcome of the Buy to Let's greed. I predict a lot of Buy to Let landlords with negative equity....poetic justice just around the corner!! Johnny no pants, Exeter I Don't expect to see Gavin and Johnny no pants at westpoint, do you?

    #9810

    gbl
    Participant

    I Don't expect to see Gavin and Johnny no pants at westpoint, do you?

    No, I doubt I'll see 'Johnny no pants' at Westpoint!Although, he sounds a bit left-field, which - at the risk of sounding controversial - is often linked to the arts! so who knows. Either way, I won't be taking any property advise from someone called 'Johnny no pants', he wants anarchy in the UK (property market).

    #9811

    WILLIAM
    Participant

    Art has held up against all other investments.What better place to put your money?Art is up there with gold and commercial property.This has to be the last time that anyone will have an opportunity to purchase Lenkiewicz's oiginal work at these prices.This sale has been on the cards for 18 months.Everyone who bought at the last Studio Sales should have known that others would follow.Remember buying on line you have to pay a premium.At the end of the day it is the people with the deepest pockets who will win here.Don't lets hear about the "if onlys" a couple of years down the road.Good Luck.

    #9812

    CID
    Participant

    Gold is a refuge and bubble. Commercial property is heading south, lets remind ouselves of the facts. the print market has collapsed, the market for sketches and drawings will be diluted to nothing after this sale - let alone the crowd who thought spending 300 on pallets was an investment in 2004. The 2004 sale was trailed in the press for months before; claiming 80% of the remaining estate was going into the 2004 sale. The sale next week is Larger than westpoint 2004. I think people have a right to be pissed off at overpaying last time round, they were lead to believe that 2004 was the last chance to buy. Look at the bare faced lies from Boyce Hatton and Bearnes then! Who is taking this set of announcements any more seriously? Are there already rumours for wesptpoint 2011? It might contain as much if not more than westpoint 2008.Remebering westpoint 2004 ...[hr]Friday, 30 July 2004 peh_front_page.gifA massive £1 million sell-off of Robert Lenkiewicz paintings and memorabilia is being planned for October, the Herald can reveal.Some 80 per cent of the late artist's remaining estate will be auctioned in Exeter in a desperate attempt to clear £2 million worth of debts and costs left by Mr Lenkiewicz.The October sale will be the biggest ever auction of Lenkiewicz artwork and effects since he died in August 2002. A fifth of Mr Lenkiewicz's original collection of paintings and other works has already been auctioned off, and a small part of his massive book collection has also been sold.Mr Walmsley said: "We are hoping this sale will raise £1 million but the more we can raise now, the less we will need to raise in future."If all the lots are sold, only around 150 of the artist's most treasured works will be left for the foundation to keep - just 20 per cent of Mr Lenkiewicz's original estate.Executor Peter Walmsley said: "Robert never expected everything to be kept but this auction is still something we are all very reluctant to do. We have, however, no choice because the creditors' claims must be settled."Details and a catalogue will be released in August.[hr]Friday, 22 October 2004 eveningheraldlogo.gifHundreds of people were today expected to flock to a second viewing of items once owned by painter Robert Lenkiewicz. Tomorrow more than 600 lots will be going under the hammer at the biggest sale of its kind at Westpoint Exhibition Centre in Exeter. More than 1,000 people were at the first viewing yesterday and auctioneers expect a massive turnout ...Daniel Goddard of auctioneers Bearne's said: "Yesterday's viewing attracted a constant stream of people. We expect the sale to be very busy."The sale of about 80 per cent of the painter's remaining estate ... I think th majority of paintings are likely to be significantly reduced in value after this sale ... Quite devastating.

    #9813

    marlowe
    Participant

    Thats great, you won't be competing on Silver Lake at £6,000 then?

    #9814

    WILLIAM
    Participant

    P C Peniless Plod I presume

    #9815

    CID
    Participant

    as private dicks go I guess there are non bigger than 'marlowe'. 'Silverlake' is

    #9816

    marlowe
    Participant

    'Silverlake' is

    #9817

    007
    Participant

    A Sketch – The Temptation of St. Antony

    #9818

    marlowe
    Participant

    I think you're right WW, why sell any paintings?

    #9819

    WILLIAM
    Participant

    Have you been on duty all week end CID? Very quiet for a gobby copper, got your facts wrong in your note book or still wiping the egg off your face ?What negative slant can you come up with next ? Or is it time to hang up the handcuffs ?

    #9820

    marlowe
    Participant

    Gold is a refuge and bubble. Commercial property is heading south, lets remind ouselves of the facts. ..I think th majority of paintings are likely to be significantly reduced in value after this sale ... Quite devastating.

    Doubt we'll hear from CID again William, I'm told he's back on the beat.Where now TLF?

    #9821

    John
    Participant
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