MY FRIEND told me that at one big sale at
Paultons, in Hamp- shire, where the private 'knock' took place in a cricket pavilion, about 150 dealers were present; and whereas the total auction figures were given as £40,000-odd, the figures in the 'knock' Came close to £80,000. The beneficiaries were thus, in fact, mulcted of £40,000. At another sale, at Ashburnham Place, the difference between the quoted auction total and the private `knock' was not far short of £50,000. At Cusworth Hall, Don- caster, the published proceeds were a mere £35,000 but at the 'knock' the figure exceeded £100,000. Thus the lady who stated in the catalogues that she was selling the effects in order to keep the services in the private chapel going was deprived Of £65,000. A pair of pine mirrors sold under the hammer at this sale for £174 made over £400 in the `knock'; in the fol- lowing year they were on view at the Antique Dealers' Fair at Grosvenor House, and they recently realised over £700 at Sotheby's. An astute dealer who knows when to stop bidding in the 'knock' can make in cash thousands of pounds a year; this is 'free' money, because no cheque passes and he has to Pay no income tax on his gains. Many dealers, in fact, live off the 'knock' entirely. This, I think, is just about the most shameless `ring' ever heard of, and if ever I sell anything at auction I shall make certain that I have it properly valued first so that the appropriate reserve can be put on it. My friend brought his alarming revelations to an end with the case of a widow who sold a Chippendale bookstand for £40 at auction, which, within two hours, had realised £700 at the `knock.' This may be 'good business' to antique dealers, but to everyone else It more appropriate phrase would be 'swindling.'
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