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Association insists on client accounts in Mossgreen wake

The Australian professional auctioneering body has called for all auctioneers to introduce client accounts – known as trust accounts in Australia – to avoid a repeat of the grim situation at failed firm Mossgreen.

The Auctioneers and Valuers Association of Australia (AVAA) said maintaining trust accounts to protect vendors in the event of trading and solvency issues is paramount, and it is has made it a mandatory requirement of being a member of the organisation.

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About Antiques Trade Gazette

Published every week since 1971, Antiques Trade Gazette is affectionately known as ‘the Bible of the antiques trade’. A long tradition of authority, integrity and accuracy, makes it the essential read for everyone who loves antiques. With a subscription to Antiques Trade Gazette, you’ll stay ahead of all the developments in the art and antiques market, plus you’ll enjoy • A comprehensive auction calendar – see when and where every sale will be happening • Exclusive interviews with dealers, giving you the inside track on the trade • Breaking news on key industry developments • Secrets, stories and tips from leading specialists and collectors • Top lots advertised by auctioneers • Previews of the best art and antiques fairs and markets • Special supplements focusing on specific collecting areas

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