The Dutch magazine ‘Kunst & Antiek Journal Collect’ reports that the newly established auction house ‘Kunstveilingen Gooi en Vecht’ is the first not to charge a sales commission. They also state that buyers are accommodated with attractive conditions. The buyers commission has been set at 25%, including 19% VAT. Results above € 10.000 are subject to 20% buying commission, including 19% VAT. Besides that the buyer receives an appraisal report, a lifelong guarantee of authenticity and all works of art auctioned for more than € 5.000 are delivered free of charge.

The auction houses will hold two auctions a year and will focus on art from the 18th to the 21st  century within the price range of € 500 tot € 500.000.

The initiators are Mark Haasnoot, Arnold & Berbard Warnars and Jan Hein Peek. Mark Haasnoot is a certified appraiser who in the past has worked for a number of auction houses. In 2007 he started his own art investment fund and he runs his own gallery. Arnold and Berbard Warnars are antique dealers and Jan Hein Peek is a seasoned entrepreneurs.

The new auctioneers state that despite gloomy times, the market is ripe for their new concept. ‘The past few years especially the larger auction houses have suffered under over-management’. Buyers premiums have increased up to 30% and the costs for the sellers, in some cases, leaped up to a staggering 20%. Added up, the revenue of the auction houses, could reach up to 50% of the hammer price.  The market is therefore ready for a change, as they state.

Their pitch ‘We believe in better prices and better services’ and their new business model, should offer an interesting alternative for both buyers and sellers in the art market.

Shame however that their internet site www.kunstveilinggooienvecht.nl is not up and running, when this message was posted.