E196 That Great Business Show - Auctioneers' Secrets - Ireland's top auctioneer worldwide spills the beans

That Great Business Show

E196 That Great Business Show - Part II of III of the Paddy Meade interviews.

Paddy starts by explaining how to make money at auctions and explains that's there a question of time - how long can you 'sit' on your investment?

Then there's a question of fashion - objects, furniture, art all go in and out of fashion. Paddy sold a lot of 'nostalgia'. If you're 40-60, you're their target market. But, what's going to be the Next Big Thing.

Paddy worked in eBay (they bought the US's oldest auctioneers Butterfield & Butterfield) when it was a teeny weeny little company (in involved 12 interviews!) and the story involves the Ireland V Italy match in 1990. His fascinating story involves Carly Fiorina, Meg Whitman, Elon Musk, Jeff Bezos, Peter Thiel (if you're too young, look them up)...who collectively now probably are wealthier than a combination of big European countries.

Then the Great Tech Bubble burst.

When Butterfields was sold by eBay to Bonhams, Paddy joined the smaller of the Big Three US auctions houses (Sotheby's & Christies being the biggies)

Paddy advises on what to buy and not to buy if you want to make your fortune and he tells us what auctioneering platforms he uses to find the items he likes to collect including work by a most curious individual Matthias or Matthew Buchinger, a circus performer who had no hands or legs who lived in Ireland. Matthew, with no hands, was a calligrapher. Mad.

His 2nd choice for a 'hire in a heartbeat'...Morgan O'Driscoll and George Mealy auctioneers.

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