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Cooper Barrington LLP

Bankruptcy & Liquidation auctions, Antiques, Fine Art & Collectibles auctions, Coins & Banknotes auctions, Furniture & Effects auctions, General auctions, Government Auctions UK

We specialise in offering at auction, Antique & Reproduction Furniture, Antique Porcelain, Glassware, Fine Art, Oil Paintings, Water-colours& Prints, Silver, Gold, Brass & Plated items, Jewellery, Books, Clocks, Watches & Barometers, Collectables, Stamps & Coins.

Any items purchased in our auction can be packed and posted or courier delivered anywhere in the UK or overseas.

Insolvency & Liquidations

Insolvency Practitioners are usually well aware of the advantages of the auction as a means of disposal of assets in liquidations. For those who are new to the idea please consider the following:

* Auctions have been used for many years as a method of realising true market prices for all manner of things from machinery, goods and chattels, livestock, fine art etc - the list is endless.
* It is difficult to estimate a fair value for a shop of stock or a factory full of machinery and it is often even harder to realise that valuation in a reasonable time frame. With a well publicised auction sale the value at the fall of the hammer can be seen by creditors and all involved as a fair and open way of disposal to the highest bidder.
* At the fall of the hammer a binding contract exists and by the end of the day the Insolvency Practitioner can see a total for the sale and subject to reserve prices having been attained, a total clearance of the premises can be quickly gained.
* Auction sales can take place on the actual premises, in a local hotel or the auctioneers' salerooms. Nowadays it is common for the bids to be accepted in real time by phone or the internet. There is also the increasing use of "live bidding over the net" with the auction being viewed remotely.
* In a perfect world all insolvencies would result in the sale of business as a going concern with staff and equipment being retained. However, this can take some considerable time and negotiations can break down right to the last minute. This does not preclude the use of the auction system. A sale can be arranged and advertised in tandem with the private sale negotiations for the business as a whole. It helps to set a very definite time frame for the all concerned. The sale is advertised on the basis of "Unless previously sold as a going concern". If a private buyer for the business is found the pre auction costs have to be met but these can be controlled and they often more than pay for themselves by speeding up the whole process.
* There may be situations where the Insolvency Practitioner has more than one option for disposal and the goods concerned can still be put forward to auction but subject to a "reserve price" under which the auctioneer will withdraw the lot should the price fail to reach the required sum. The Insolvency Practitioner can then pursue his other option for sale.
* There are other methods of realisation such as sale by tender for individual items or sealed bids for the whole but this is nowhere near as transparent a solution as the auction sale.
* It is in our opinion that a skilled auctioneer offering lots openly in a well advertised sale gives creditors the best opportunity to benefit from the realisation of the company assets.

We have a name for offering good value to vendor and purchaser alike and we like to believe our fees and commissions are among the most competitive around.

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