Joined: Aug 2017 Posts: 1,640 Threads: 93
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Location: Monmouthshire
Those funny little algoriths think I might be interested to see an ad from a London legal firm offering "If anyone has consigned cars to Coys or is owed money we will be pleased to provide legal advise." I suspect that this may only be the first casualty in the world of old machinery, whether buying or selling it, or having places to use it. Would the likes of us humble Sevenists have been allowed through the hallowed portals in Kensington? Since Ted Widgery retired from How Caple, Brightwells in Leominster seem to have become the only auction house where Sevens are regularly bought sold, dicussed in advance on this forum, examined in detail on the day and further discussed with many other Seveners at length in the canteen. Is that the Brightwells whose name Bonhams do not want mentioned? Yes, that Brightwells.
Joined: Aug 2017 Posts: 965 Threads: 117
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Location: Melton Mowbray.
Administrators were appointed on the 17th April by the High Court.
Joined: Aug 2017 Posts: 1,808 Threads: 99
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sad to see this happening to any company in these troubled times.
but its no surprise these large companies are in trouble first.
what does interest and surprise me, is all the auction houses that have now turned to TIMED ONLINE auctions. to keep the cash flowing.
obviously at this time, we cant view anything being sold? so the auction houses who sell there wears by the mantra, (buyer be ware). there could be alot of trouble ahead.
it could give many the chance of a bargain though? as surely you wouldnt bid so high on something you cant even view. but then if its not as good as it looked in the pictures. you just complain and walk away?
troubled times.
tony
Joined: Aug 2017 Posts: 3,004 Threads: 168
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Location: Sherwood Forest
Car type: 1938 Talbot Ten Airline
This would appear to refer to Coys of Kensington Automobiles, not Coys Auction House.
Joined: Aug 2017 Posts: 314 Threads: 12
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Not the first time they have done this either, plenty of horror stories about people not getting money for the cars they have sold.
Joined: Nov 2017 Posts: 562 Threads: 56
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Location: West Yorkshire
Car type: Type 65 1934 + RP 1932
I can't find any reference to any legal entity on the coys.co.uk site, so in the absence of any other information would tend to think the auction house is part of COYS OF KENSINGTON AUTOMOBILES LIMITED (04627057). They have posted nothing on Twitter since April 1st this year. If they were a separate entity and so not in administration I would expect them to be shouting the fact from the rooftops.
All a bit academic to an oik like me though!
Joined: Aug 2017 Posts: 3,004 Threads: 168
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Location: Sherwood Forest
Car type: 1938 Talbot Ten Airline
Coys of Kensington Automobiles is or was a subsiduary of Coys Auction House, and it's the former which has been put into voluntary liquidation..
Joined: Mar 2018 Posts: 694 Threads: 33
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Location: Lot region FRANCE
It looks like they are only going to pay £0.20p in the £1.00 owed, Bet you anything, these crooks will be up and running before anyone gets a payout. Their financial fall had nothing to do with Covid19 - just greed.
