Expansion pays off for Stowmarket auctioneer Bishop & Miller
- Credit: Archant
An independent auctioneer and valuation firm launched in Suffolk just three years ago has seen its gross annual profit top £1.5m after continued growth in its programme of specialist sales.
Bishop & Miller, based on the Charles Industrial Estate in Stowmarket, conducted a total of 24 auctions last year, compared with six in 2015, and also expanded into a neighbouring unit due to the level of demand.
Founder and managing director Oliver Miller says much of the firm’s success is down the popularity of specialist auctions, such as Fine Jewellery and Wristwatches, Fine Art, Period Oak and Toys, with the number of items sold having grown from 3,600 in 2015 to more than 10,000 last year.
“When we launched in 2015 I knew we had a tough task getting our name out there and competing against the national auction houses, but we’ve done it,” said Mr Miller.
“With a growing number of loyal customers, as well as new ones being introduced to us at each auction and valuation day, we’ve seen dramatic growth which is set to continue this year and beyond.
“We’ve been quick to respond to changing trends and demands from our customers; for example, this year we’re pleased to be holding our first popular music memorabilia auction which we know will attract a diverse crowd. The list of specialist auctions is set to increase too as we grow our team and expertise.”
He added: “In terms of predictions for 2018, it will be interesting to see what happens with the price of gold as Brexit negotiations continue. Uncertainty tends to push up the price of gold and other commodities, we may see more jewellery going under the hammer this year.”