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AUCTION OF REGIMENTAL SILVER AND PROPERTY IP: 217.44.239.2 Posted on 14/10/2016 at 11:39:40 by Dennis Laverick For RHQ
NOTICE
AUCTION OF REGIMENTAL SILVER AND PROPERTY
The aim of this note is to explain why the Regiment has decided to sell some of its surplus silver and property and to explain to members of the Regiment the intended process that the sale will follow. I would encourage you to read the whole note before picking up the phone and speaking to the Regimental Secretary.
Following the re- distribution of Regimental silver and property after the disbandment of the Second Battalion to all elements of the Regiment, the Colonel of the Regiment and Regimental Council have agreed that surplus silver and property should be sold. The sale will generate much needed funds, firstly to be re-invested into the retained silver and secondly, the regiment will look at investing some of the funds raised in a new piece of silver to celebrate the 50th anniversary of the Regiment and thirdly, to support the Regiment (Fusiliers Fund). It will also reduce our insurance costs.
Please note that this only applies to items in the auction and not those still in use with the Regiment.
The Auction. RHQ has contracted a professional auctioneer, Mark Longson of London Auctions to carry out the sale on our behalf. Following discussion with London Auctions the sale will be conducted in three phases which are as follows:
· Phase 1. Those items deemed of some worth and quality (approximately 50 -75 lots) will be auctioned exclusively for the benefit of the current and former members of the Regiment allowing those who serve or served in the Regiment first choice. London Auctions are in the process of producing a catalogue with descriptions, photographs, estimates and reserve prices. This catalogue will be available PDF in Nov 16 via the Regimental and Association website with a 3 week viewing period. The sale will be by via sealed bid and will be done without an open viewing. Detailed auction instructions will follow and the sale will take place prior to Christmas.
· Phase 2. In the New Year the remainder of the silver and silver plate items that are ‘tired’, bear no Regimental marking, bear non Fusilier markings and a few other select items shall be placed as special section in part of a London Auctions regular sale which will be open to the public. Again this will be fully catalogued with estimates and reserves. In this sale there will also be some of the art, prints and general effects unwanted by the Regiment. A list of the items is being prepared and will be discussed with RHQ prior to offering the items for auction. This sale will take place post the Regimental sale but advertised at the same time. Members of the Regiment will be able to take part in this auction. Unsold items from Phase 1 will be sold in the Phase 2 sale.
· Phase 3. Concurrently, a third tranche of items that are deemed as more suitable for the smaller pocket (Mess and Regimental memorabilia that lacks significance for either the special or open sales e.g. plaques, some silver plate items) shall be sold via a military effects website. Again this will be advertised across the Regiment.
Charges. The detailed charges – commission, postage etc. will be explained in the catalogue when it is published. Importantly the Regiment will be maximising the return on the sale of its property as it is intended that sale items will reach their reserve price.
Retention of Silver Items. Following discussion with London Auctions a number of important silver items will be retained in store at RHQ. These items were not wanted when the silver was re-distributed in 2014 but are of value or have sentimental value to the Regiment. RHQ is looking at their future use, for instance, they may be available to support external Regimental events such as, Regimental Association events or be made available for hire for private events.
Return of Bequeathed Property. Before silver and property can be sold it is required that the Regiment seek out the person who gave the item to the Regiment to see if they would wish to have the item returned to them. Major Mick McCarthy, former QM Second Fusiliers and now Area Secretary London, did go through this process with a large number of items during the re-distribution of silver and property in 2014. Those silver items which are being sold are old pieces and it is unlikely that the individual who presented the item is still alive. However, if members of the Regiment, once they look at the PDF catalogues, believe that they presented a piece of silver or property to the Regiment and would like it returned to them then they are requested to please get in touch with RHQ.