23rd July 2012

New Arrivals

Warm feelings all round in the extended Grosvenor family this week as we send our heartfelt congratulations to Andrew Williams and partner Emma on the birth of their second daughter, Charlotte Seren, who arrived on Tuesday 17th July weighing 8lb 7oz.

Andy will be spending some time away from the office on paternity leave, which should give him plenty of time to scour the internet for 'Baby's First Gavel'!

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Revised Extensions Policy

Much has changed in the philatelic world since we first composed our Conditions of Business back in 1997.

There have been many encouraging signs. The number of collectors in the United Kingdom has not fallen as sharply as the worst pessimists of the 1990s predicted and the great fishing net of the ‘World Wide Web’ now gathers an ever greater haul of international buyers who contribute to the maintenance of prices and, in some areas, have contributed to strong growth.

Other changes have been less encouraging. The 'money men' have been attracted to the philatelic market in recent times, in place of career philatelists. Some of these bankers show a desire to empire build whilst others are determined to generate profits by forcing price increases. The treasures of our subject, those rarer items that might otherwise be acquired by specialists and studied for the benefit of all, are used as baubles for investment, hoarded for financial gain, their true market values cynically manipulated and misrepresented in order to further these ends.

The public auction, on the other hand, with its well-established rules and traditions, has required little alteration over the years and it is with some reluctance that we find it necessary to clarify our policy on lots sold ‘on extension.’ The following revised conditions of sale will apply from the start of the Autumn 2012 auction season and will be found stated in all forthcoming catalogues

Grosvenor Extensions Policy

Requests for the possible sale of a lot ‘on extension’ must be made in writing not less than 48 hours before the commencement of the auction.
The name of the proposed expert or expert committee must be provided to and approved by us before the sale. N.b. Some experts mark forged stamps and it is therefore particularly important that permission for submission to these be obtained from us beforehand.
The reason for the extension request must be stated. Requests relating to condition only will not normally be approved.
Extension requests will not be granted for any lot already accompanied by a certificate of authenticity except by special permission.
The sale of any lot described in the auction catalogue as already having a defect or faults will not be cancelled in the event of further imperfections being mentioned on the certificate.
Lots will be submitted to the expert or expert committee by Grosvenor, unless otherwise agreed

These new rules are intended to ensure the smooth operation of the system in future and to provide clear guidance to our newer clients who may be unfamiliar with the 'extension' arrangement.