Island Life Magazine Ltd August/September 2016 | Page 63

Hose Rhodes Dickson Auction Rooms
Rex Gully
& Rebecca
Ball:

There has been enormous discussion since the
referendum of the impact of Brexit upon every
aspect of our lives.
The speculation is just as rife within the auction and antiques trade.
How will the market be affected? Will international buyers lose
confidence? The unquantifiable impact upon our livelihoods is
understandably unsettling, but whilst at the time writing Article 50
has yet to be invoked, a brief summation of events thus far paints
an interesting picture.

Ask an expert!

AUCTION REPORT
We saw a flying start to the summer months, with a
record breaking fine art and antique auction setting the
scene for what has continued to be a scorching season
of sales, even if the weather has not always agreed.
There was an added frisson of excitement to the fine art
auction as we were being filmed for the BBC Antiques
Road Trip.
Experts James Braxton and Raj Bisram were both in
attendance and vying to see which of their lots would
turn the greatest profit, with an occasional table in the
shape of a rhinoceros being one of the highlights. Keep
your eyes peeled for our appearance on the small screen
early in the New Year.

Hose Rhodes Dickson

Britain is the largest market for art and antiques in the EU, with
London being the focus for the UK art world. However, any market
trends very soon filter down to the provincial salerooms and dealers.
At a Christies sale of Old Masters just a few days after the vote,
astounding results well in excess of the guide prices were recorded.
It seems the suddenly weaker pound encouraged overseas interest,
with the dollar exchange rate on that particular day meaning
effectively a 15 per cent discount for buyers from the USA. At Hose
Rhodes Dickson we bore witness to this very phenomenon, with a
purchaser from the USA combining the strength of the dollar with
the fluctuating gold price, and taking a gamble buying sovereigns he
had not intended to purchase.
It is certainly true that there have been EU directives which have
been far from popular with the art market; none less so than the
Artists Resale Right. It will remain to be seen whether a departure
from the EU will mean the abolition of these unpopular regulations.
All that can be said with any certainty at present is that the future
is uncertain, but the market remains buoyant, particularly for
investment purchases.

Wristwatch

Cupboard

Bible

Sold for £5,500

Sold for £4,600

Sold for £4,100

Rolex Explorer Oyster
Perpetual wristwatch

A 17th century court cupboard

A Geneva Bible, dated 1560

The Auction
Rooms,
Quay Lane,
Brading,
PO36 0AT
Telephone:
01983 402222

www.visitilife.com

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