Vectis Auctions

A Message from Lord Pickles and Lord Blunkett, followed by Vectis Auctions's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Vectis Auctions is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett
Pickles signature Rt Hon The Lord Eric Pickles

www.vectis.co.uk

BEST PRACTICE SPONSOR 2020
THE PARLIAMENTARY REVIEW
Highlighting best practice
14 | TECHSIMULATER
files very hard to find. This can lead to
documents being lost and deleted, and
we set out to fix all of these issues.
Our product will be compatible
across a wide range of devices, from
smartphones to tablets, and is specifically
designed to support devices with a smart
pen capability. Both Apple and Microsoft
have focused on developing this
new technology, and by creating an
indexing system that can help support
the making of digital notes, we can
support and tap into these efforts.
Alongside the environmental benefit
that will come with replacing paper
with an easy to use digital note-taking
system, our product will also help those
with visual impairments or dyslexia.
Through a voice-activated system,
which we are creating alongside
Grammarly application programming
interfaces, users will be able to pull up
documents using only their voice, with
the system locating these documents
through the information it has
garnered from eachfile.
Refining our portfolio
Alongside these new developments,
we have also continued to refine our
existing products. We have adapted
and developed Heelo, increasingly
focusing on the data aspect of the
system and switching our focus from
targeting consumers to business-
to-business interactions. Because
the system is able to host 24 people
simultaneously in HD, with the contents
of the discussion being encrypted,
this product ideally fits the needs of
businesses looking to work remotely.
The system has also seen significant
interest from around the world and we
are the first platform of our type to be
allowed to operate in the Middle East,
having received approval to operate in
both Doha andDubai.
As we look to the future, we are
committed to pursuing further
innovation. As the sector becomes
increasingly data driven and focused
on machine learning, we are targeting
new opportunities to harness these
developing technologies for use in
our products and systems. With the
development of our two new systems,
supplemented by various external
projects and existing products, I am
confident we can continue to be at the
forefront of change and innovation in
our sector.
Heelo is the
first platform
of its type to
be allowed to
operate in the
Middle East
Khurram and his team
continue to innovate
15VECTIS AUCTIONS |
BUSINESS SERVICES
Vintage Steiff Jocko monkey –
sold for £3,480
Managing Directors Jonathan
Goodall and Vicky Weall
Vectis Auctions is the largest specialist toy auctioneer
in the world. The firm, which prides itself on its
professional, reliable and friendly service, sells more than
45,000 lots a year, and Managing Director Jonathan Goodall
claims the list of toys is “endless”. There are six auctions a
month, and all lots are held live and online to reach a worldwide
clientele. Jonathan tells
The Parliamentary Review
about the
niche market Vectis operates in and how it seeks to maintain its
position as the world’s largest toy auction house.
In 1994, after the successful sale of the family Christmas hamper business, my
father found himself with some time to spare. He remembered the toys he had as a
child and decided to start re-collecting them. After some research, he discovered an
auction house dedicated to selling collectable toys, based on the Isle of Wight and
holding its auctions in Guildford – Vectis Auctions. After making several trips from
Teesside to Guildford as a successful buyer, my father approached the owner of
Vectis and after a short negotiation agreed to buy the business, relocating it to the
existing Teesside business centre.
The acquisition of Vectis complemented a pre-existing portfolio of companies
already within The Hambleton Group Limited, ranging from the selling of caravans
to general warehousing, all of which are housed in the 18-acre complex.
The acquisition of Vectis Auctions simply consisted of a hardback book containing
a list with some 400 customers – a very expensive book indeed. In the past two
decades, the auction house has expanded to serve over 125,000 customers and
FACTS ABOUT
VECTIS AUCTIONS
»Managing Director of
TheHambleton Group Limited:
Jonathan Goodall
»Managing Director of Vectis
Auctions Limited: Vicky Weall
»Group founded in 1979,
Vectis founded in 1996
»Located in Teesside
»Services: Full-service auction
system
»No. of employees: 80 in the
group, 35 in Vectis
www.hambletongroup.com
Vectis Auctions
THE PARLIAMENTARY REVIEW
Highlighting best practice
THE PARLIAMENTARY REVIEW
Highlighting best practice
16 | VECTIS AUCTIONS
holds 75 auctions each year, with
annual turnover increasing from
£400,000 to just over £6 million.
If Tesco can’t do it, we can
Vectis is based on Teesside in the
North East of England, and we are
committed to creating employment
in our area. We also endeavour to
use services within our region, only
going further afield if there are no
otheroptions.
We aim to create a strong and thriving
company in niche areas of business,
and work with the policy of “If Tesco
can’t do it, we can”. By operating in
areas which often fall under the radar
of the larger organisations, we are able
to excel in our chosen market, and we
are proud to now own the largest toy
auction house in the world.
That’s your lot
The rise in recent years of online
bidding platforms has transformed the
way in which our business operates.
Our specialist auctions are now driven
by online bidding, as our customers
are no longer required to attend
the auctions in person. Indeed, our
customers are based worldwide, with
the vast majority of our sales now
coming through non-room purchases.
More than a third of sales go overseas,
primarily to Europe and North America.
Similarly, one-third of collections
consigned to us for auction are from
overseas sellers.
Vectis was the first collectable toy
auction house in the UK to use a live
online bidding platform, as well as
being the first to implement its own
tailor-made platform for the express
purpose of selling auction lots. We
believe it is essential to use our own
purpose-built system in order to give
our customers the best service possible
and have built upon this premise since
that first real-time bidding platform
was developed just over a decade ago.
Auctioned off
In almost every auction, we sell 98 per
cent of lots at their first offering. We
believe our success is due to the fact
that around 85 per cent of these lots
already have pre-sale bids within the
estimate. This is coupled with the fact
that we have on average around nine
or ten people bidding on each lot,
indicating the strength of the world
market for both buyers and sellers of
collectable toys.
Left: Star Wars, Ben
(Obi-Wan) Kenobi, sold
for £1,920
Right: Dinky pre-war
delivery van toy, sold for
£3,360
If Tesco can’t
do it, we can
BEST PRACTICE SPONSOR 2020
THE PARLIAMENTARY REVIEW
Highlighting best practice
16 | VECTIS AUCTIONS
holds 75 auctions each year, with
annual turnover increasing from
£400,000 to just over £6 million.
If Tesco can’t do it, we can
Vectis is based on Teesside in the
North East of England, and we are
committed to creating employment
in our area. We also endeavour to
use services within our region, only
going further afield if there are no
otheroptions.
We aim to create a strong and thriving
company in niche areas of business,
and work with the policy of “If Tesco
can’t do it, we can”. By operating in
areas which often fall under the radar
of the larger organisations, we are able
to excel in our chosen market, and we
are proud to now own the largest toy
auction house in the world.
That’s your lot
The rise in recent years of online
bidding platforms has transformed the
way in which our business operates.
Our specialist auctions are now driven
by online bidding, as our customers
are no longer required to attend
the auctions in person. Indeed, our
customers are based worldwide, with
the vast majority of our sales now
coming through non-room purchases.
More than a third of sales go overseas,
primarily to Europe and North America.
Similarly, one-third of collections
consigned to us for auction are from
overseas sellers.
Vectis was the first collectable toy
auction house in the UK to use a live
online bidding platform, as well as
being the first to implement its own
tailor-made platform for the express
purpose of selling auction lots. We
believe it is essential to use our own
purpose-built system in order to give
our customers the best service possible
and have built upon this premise since
that first real-time bidding platform
was developed just over a decade ago.
Auctioned off
In almost every auction, we sell 98 per
cent of lots at their first offering. We
believe our success is due to the fact
that around 85 per cent of these lots
already have pre-sale bids within the
estimate. This is coupled with the fact
that we have on average around nine
or ten people bidding on each lot,
indicating the strength of the world
market for both buyers and sellers of
collectable toys.
Left: Star Wars, Ben
(Obi-Wan) Kenobi, sold
for £1,920
Right: Dinky pre-war
delivery van toy, sold for
£3,360
If Tesco can’t
do it, we can
17VECTIS AUCTIONS |
BUSINESS SERVICES
We have recently launched the
Vectis collectables marketplace, a
sister division to Vectis Auctions. This
new platform will allow for peer-to-
peer sales of collectables and will be
category specific. This will further
develop our own online profile and
increase customer satisfaction, as they
will have more opportunities to acquire
collectables via both the auction and a
Buy It Now platform.
For the record
For some time, we have been
developing sales within the vinyl record
market, which we deem to be both
good and growing. We envisage that
this will be the next niche category to
incorporate into the online marketplace,
especially as there is currently no UK-
based listing site specifically dedicated
to the sale of vinyl records.
When we formally launch the vinyl
record-selling platform, we will already
have a sizeable audience from our
pre-existing customer base. We will
also invest in a marketing campaign
to ensure the greatest-possible profile
for this new resource, including the
introduction of a fully serviced in-house
social media marketing department.
Technical difficulties
In spite of our extensive use of
technology, it is not without its
challenges. As much as we might hope
IT development goes smoothly, there
are often problems that we need to
overcome. We understand that this
is commonplace but stand by our
ethos and determination to expand
our online presence and to be at the
forefront of auction and marketplace
technological developments.
The company as a whole has been
proudly committed to employing people
on Teesside for more than 30 years and
will continue to do so. Whenever there
are innovations and diversification,
such as Vectis Auctions and the new
marketplace platform, we are confident
that our commitment to this venture
will be a great success and will continue
to boost the localeconomy.
Selling toys of the past in the
future
In the coming years, we plan to
continue to grow our profile online
and to develop the existing Vectis
collectables marketplace. This push
begins with toys, our primary focus,
and moving forward will include vinyl
records and then other collectable
genres, several of which we are
currently researching.
Our aim is to maintain a prominent
position as the world’s largest toy
auction house coupled with a close
involvement with the local community.
At Vectis Auctions we are all about
theservice.
Vectis was the
first
collectable toy
auction house
in the UK to
use a live
online bidding
platform
Star Wars, Bib Fortuna
prototype, with
certificate of authenticity
– sold for £36,000

www.vectis.co.uk

This article was sponsored by Vectis Auctions. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from Rt Hon Elizabeth Truss.

Rt Hon Elizabeth Truss's Foreword For The Parliamentary Review

By Rt Hon Elizabeth Truss

Even by the standards of the day –this has been one of the most exciting and unpredictable years in British politics.

The leadership election we’ve just seen marks a huge moment in our country’s history. This government is taking a decisive new direction, embracing the opportunities of Brexit and preparing our country to flourish outside the EU.

As international trade secretary, I’ll be driving forward work on the free trade agreements that are going to be a priority for the government. Free trade isn’t just an abstract concept bandied around by technocrats. It is crucial for a strong economy and for the ability of families to make ends meet. Free trade benefits people in every part of our country, as British firms export to new markets and people doing the weekly shop have access to a wider choice of goods at lower prices.

The essence of free trade is in the title: freedom. It’s about giving people the power to exchange their goods without heavy government taxation or interference. Commerce and free exchange are the engine room of prosperity and social mobility. I’m determined to tackle the forces who want to hold that back.

One of my priorities is agreeing an exciting new free trade deal with the US, building on the great relationship between our two countries and the Prime Minister and US President. But I’ll also be talking to other partners including New Zealand, Australia and fast-growing Asian markets.

And with the EU too, we want a friendly and constructive relationship, as constitutional equals, and as friends and partners in facing the challenges that lie ahead – a relationship based on a deep free trade agreement. Our country produces some of the world’s most successful exports, and the opportunity to bring these to the rest of the world should make us all excited about the future. It is this excitement, optimism and ambition which I believe will come to define this government.

For too long now, we have been told Britain isn’t big or important enough to survive outside the EU – that we have to accept a deal that reflects our reduced circumstances. I say that’s rubbish. With the right policies in place, we can be the most competitive, free-thinking, prosperous nation on Earth exporting to the world and leading in new developments like AI. To do that, we’ll give the brilliant next generation of entrepreneurs the tools they need to succeed. Since 2015, there has been a staggering 85 per cent rise in the number of businesses set up by 18 to 24 year olds – twice the level set up by the same age group in France and Germany. We’ll help them flourish by championing enterprise, cutting taxes and making regulation flexible and responsive to their needs.

As we do that, we’ll level up and unite all parts of the UK with great transport links, fibre broadband in every home and proper school funding, so everyone shares in our country’s success.

2019 has been the year of brewing economic and political revolution. 2020 will be the year when a revitalised Conservative government turbo charges the economy, boosts prospects for people across the country, and catapults Britain back to the forefront of the world stage.



Rt Hon Elizabeth Truss
Secretary of State for International Development