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Coys of Kensington is to reopen at its refurbished Richmond headquarters under new ownership in early 2021, with what it calls ‘a more streamlined and customer-orientated service’, following the collapse of its previous guise.
The Calleri family purchased the name, trademark and assets from the liquidated company, which appointed administrators in April 2020 owing £6m to companies and individuals around the world.
Nick Wells, formerly consultant senior auction manager at Coys, has been installed as managing director and is a part owner with the Calleris.
It is the first time in more than two decades that the long-established business has a completely new owner.
Three auctions have so far been listed online, starting with Techno-Classica Essen in Germany on 10 April – should the event take place – followed by a sale at Chiswick House on 17 July and The Royal Horticultural Halls in London on 8 December. A full calendar will be announced soon, according to a statement.
“The way we conduct our business is vital,” said Wells. “We are impartial sales agents with simple and transparent processes linked to ring-fenced client bank accounts.
“We are also setting up a formal executive board and an additional advisory board of directors drawn from across the world of classic cars. They will provide additional guidance on the development of the business, share their market knowledge, assist with strategic alliances and new product launches as well as provide day-to-day senior counsel to the management team.”
Richard Calleri added: “We are delighted to be working with Nick and his team in relaunching this world-recognised 102-year-old classic car business.
“Thanks to Nick’s proven experience and professionalism, planned new service offerings and fully transparent sales processes, Coys will bring new sources of value to buyers and sellers of classic cars and propel the auction house into the next stage of its development.”