Is it possible he has a vested interest in taking such a view?
Consider the annual deaths in the UK. These are averaging over 600,000 per year – which equates to around 11,500 per week. A fairly high proportion of all those deaths would no doubt involve disposal of considerable assets.
So if Mr Watson got his wish we could easily see an increase of weekly auctions in excess of 1000.
Considering auction houses charge selling commission and buyer’s premium, I can quite see where his enthusiasm is coming from. Countless millions of extra commission?
One further point on his suggestion. With a vast increase in the number of annual auctions together with an astronomical number of extra lots, would the net result not be a reduction in prices obtained?
After all, there is only so much money to go round. Surely with the vast number of extra goods being readily available then auction prices in general would be suppressed?
Richard Opala, Nottingham (99% retired dealer)