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Press Release - July 8, 2011
Greg Martin Auctions And Heritage Auctions Join Forces
Leading antique arms & armor auctioneer acquired by world's third largest auction house; auctions in July, August and September
DALLAS, TX – Effective July 8th the assets of Greg Martin Auctions of San Francisco, CA, one of the nation's top auction houses of antique arms & related historic memorabilia were acquired by Heritage Auctions, the world's largest collectibles auctioneer.
"The acquisition of our company by Heritage is a natural fit with advantages for all stakeholders," said Greg Martin, a founder of Greg Martin Auctions. "We tap in to Heritage's greater strength, reach and access to achieve more significant results in the future, while Heritage gains immediate expertise and exposure in the arms & armor segment through our past successes and the long legacy of our team. Moreover, thanks to our shared business values of high quality and customer service, both buyers and sellers will benefit as well."
For Heritage, too, the acquisition fits perfectly with the company's steady expansion over the last decade.
"Arms & armor is a market we've been looking to increase our reach for quite some time, just waiting for the right opportunity," said Steve Ivy, Co-Founder of Heritage. "With that goal in mind, this situation is ideal. This association with Greg Martin allows us to expand our portfolio and product offerings in a key market segment with a leading company, further enhancing our presence in the marketplace and providing increased opportunities to collect and consign for our valued clients."
Greg Martin Auctions was founded in 2002 by Greg Martin, John Gallo and Bernard Osher, the same management team that built at Butterfields & Butterfields (now Bonhams & Butterfields) into the world's largest department of antique arms & armor, a position it held for decades. Greg Martin and staff will continue to office in San Francisco. Live firearms auctions will be conducted at the various Heritage offices in Dallas, New York and Beverly Hills.
Heritage Auctions, the third largest auction house in the world, is a $700+ million a year company, with more than 30 categories. By building a business based on transparency, technological advances and unparalleled customer service, the company has risen to the very top in the respective fields where it operates. Heritage currently enjoys unchallenged dominance in many of its 30 collecting categories, including rare coins, currency, comics, movie posters, sports memorabilia, illustration art and fine guitars and stringed instruments, Civil War memorabilia and Space Exploration.
Reflecting the priorities of both companies, clients can continue to expect superior consignment service, aggressive marketing for their collections, top-quality catalogs featuring detailed color photographs and descriptions and a continued emphasis on world class customer service, all with a focus on auctioning the top-quality offerings available.
Heritage Auctions' first official event under Greg Martin's guidance will be a July 30, 2011, Internet-only Arms & Armor auction, offering more than 700 estate arms and historic arms via an online catalog and online bidding. This will be followed by the "Firearms for Freedom" auction held in concert with the NRA (National Rifle Association), in Dallas, on Aug. 21, featuring approximately 1,000 antique and modern firearms.
On September 18, 2011, in a highly anticipated sale, the company will offer the superlative The Alfred (Al) Cali Collection of Important Colt Firearms. Amassed over 40 years, this heirloom collection showcases rare and exceptional Colt firearms of the ultimate condition and desirability. The event is expected to be one of the greatest Colt offerings ever to take place. The auction will have 29 lots valued at approximately $7 million. A second session on the same day features Fine & Collectible Sporting Guns.
Greg Martin Auctions has achieved the sale of some of the most important arms ever sold and numerous world records, including one of the highest prices ever paid at auction for a firearm – $862,500 – for the Serial No. 1 Colt Single Action Army "Peacemaker" revolver. For more information, contact Greg Martin Auctions at GregM@HA.com or online at GregMartinauctions.com.
Heritage Auctions, headed by Steve Ivy, Jim Halperin and Greg Rohan, is the world's third largest auction house, with annual sales more than $700 million, and 600,000+ online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.
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