Friday, December 8, 2023

Auctioneer racks up record results and shares £2m with staff

Nottingham-headquartered national auction house, John Pye & Sons Ltd, has seen record results from its latest financial year end, racking up significant increases in turnover, auction receipts and new bidder registrations.

For year ending 31st July 2023 the firm saw auction receipts hit £119 million and turnover reach £45 million, up 36% on the previous year. And, with new bidder registrations up 90% year on year it has been a record year all round.

Announcing the annual results, Adam Pye, Managing Director at John Pye & Sons, said: “These are incredible figures for our business. The team has worked so hard on several high-profile projects and achieved more than we ever thought possible during the period.

“I’m so pleased to report that we have again built upon the success 2022 and am happy to confirm that we’re in the fortunate position of being able to share discretionary bonuses with colleagues in their November pay.”

Last year the family business paid out in excess of £1,300,000. Based on this year’s results, the John Pye Board has agreed to the largest profit share in its history, at £2,000,000.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.