Well-known Melbourne dealer Torsten Weller has announced his acquisition of the assets of the Stamp & Coin Department of recently failed Mossgreen Auctions. With fellow ex-Mossgreen employees Gary Watson (former owner of Prestige Philately) and Nick Anning, Torsten has formed Abacus Auctions, with the somewhat cheesy but appropriate motto “You Can Count On Us!”
“People will quickly see,” said Torsten, “that we are returning to the successful and highly respected business model that made Prestige Philately a world leader in this industry. We stand for integrity and the highest professional standards, coupled with respect for all our clients and their material. Collecting stamps and coins should be fun and we want people to enjoy all their dealings with Abacus.”
During an exhaustive stocktake, all consignments now held by
Abacus Auctions were laid out in Mossgreen’s auction room.
It’s an impressive sight. And this doesn’t include the valuable
and highly portable lots stored in fire-proof safes.
All unsold lots and material yet to be offered by Mossgreen have been assigned to Abacus. Gary Watson has personally phoned most consignors and been gratified by the response: “More than 95% of these clients, some of whom are owed significant sums by Mossgreen, have enthusiastically embraced what we are doing. The outpouring of support and goodwill for Abacus is greatly appreciated by all of us.”
Reduced Commission Rates
Abacus will offer lower commissions for both buyers and sellers. Mossgreen’s buyer’s premium was 20% + GST: Abacus will charge 20% inclusive of GST. Vendor rates will also include GST.
Importantly, Abacus will segregate vendor proceeds and will pay-out vendors 45 days after each auction.
Torsten Weller and his team at Abacus Auctions encourage collectors and dealers alike to support their new venture. He says “You can play a vital part in helping us revitalise and restore confidence in the auction market in Australia”.
For further information about philatelic auctions, including to consign material for sale, please contact:
Torsten Weller - email firstname.lastname@example.org
Gary Watson - email email@example.com