MADAM – Some would say ‘at long last’…
Auctioneers throughout the country have started to take Boningtons’ lead and withdraw the two weeks – or, in some cases, 30 days – credit traditionally offered to many silver and furniture dealers in exchange for their regular attendance at sales (Sotheby’s and Christie’s withdrew this privilege some years ago).
This unnecessary free funding was originally offered in harsher times, when auction houses held multiple sales each month – leaving funds awaiting distribution to their sellers.