FOR CLEAN VERSION SEE STORY NUMBER: 4063805

LEAD IN:

The art and antique market in post-Brexit Britain is booming, according to London dealers.

A weak pound against the dollar and Euro is seeing American collectors in particular start to snap up bargains.

STORY-LINE:

The art and antiques market in the UK isn't just on target, it's positively booming post Brexit.

Dealers here at the Winter Art and Antiques Fair in Olympia say it's a great time to buy because of the weak pound.

American buyers in particular are attracted to London with the newfound strength of the dollar. Looking to bag a bargain they could save around 25-30 per cent compared to six months earlier.

Craig Carrington is an antique dealer with four decades of experience.

He sells many neo-classical antiques on his stand, but his showcase piece is this bust of a Roman goddess, thought to be designed by Frederic Auguste Bartholdi, the same man who designed the Statue of Liberty.

He says: "As an antique dealer I think a weak pound is very good news because we sell to international clients and if the dollar is strong, the euro is strong then it's very good news for somebody like me, absolutely."

Art dealers are reporting a similar trend.

Tanya Baxter runs a gallery specialising in contemporary pieces. She says since the day of the referendum result, announcing Britain would leave the EU, she's been very busy.

She says many see the art market as a safe investment in uncertain times.

"And with the devaluation of the pound as well as the fact that Brexit has kind of made a cautious and volatile financial market it (art and antiques) is a very, very safe place."

According to Baxter the single largest group of buyers is coming from the USA:

"Well they're so excited particularly American collectors who we are getting calls from saying 'So what have you? Because I want to spend x amount and will fly over to do so.'"

One of the American investors who has come to London to buy is David Ryder.

The retired lawyer, originally from Chicago, had just bought this painting by British artist Amy Pugh. He says it's such a good time to buy, with the strength of the dollar against the pound, that he will return next month to buy more art.

Ryder says: "England is where we have bought probably 90 per cent of the artwork that we have, and we have a lot in numerous houses. We find this is a good country for selection of different artists, both contemporary and old artists, particularly from the auction houses and this is a particularly good time so we're here now and we'll come back in December again to look at more art."

Art and antique dealers haven't just benefited from the dip in the value of the pound. Immediately after the result of Brexit was announced British buyers quickly began to buy art and antiques fearing the collapse in the value of the pound.

Art dealer Julian Hartnoll is calling this a 'double-boom' for the industry.

Hartnoll says: "There's this nice new phrase, the double-boom. It was the English buying immediately after Brexit because they wanted to get out of pounds and get into objects because they were fearing the pound would become valueless. And then the Americans, as the pound subsided, have overcome their fear of terrorism in England and have started to buy again, so for instance last night my only clients were Americans."

Antique jewellery dealers are also benefiting.

Iranian jeweller Morteza Mojarad runs the Persis jewellers off Bond Street in London.

He says: "I've seen a big improvement, to be honest, since Brexit and that's I think because of the exchange rate, dollar to pound and especially Euro to pounds."

But if the situation is good for British based dealers, spare a thought for European antique dealers trying to sell in Britain.

David Lafleur is an antique dealer based in Paris with his shop Gallerie Buter.

The strength of the Euro might be good for some of his compatriots, but when Lafleur sells in the UK he is finding the competition difficult.

However, despite these difficulties he says he will continue to exhibit his Oriental antiques in London because international buyers have been scared away from Paris.

"Because of the economic crisis, you know, the people were afraid because of the terrorists, because of the tax. A lot of things saw the people leave France. So for us, it's better to come here in London because the people are here, the people from other countries are here."

The Winter Art and Antiques Fair in Olympia returns for its 26th year.

Around 100 exhibitors are displaying art and antiques, most are displaying collectibles at the high-end of the market.

It is the only fair in the UK to work with the top two trade associations and there is a strict vetting process for all pieces on sale at the show. Each item must be checked by a team of experts before the fair opens.

The Winter Art and Antiques Fair Olympia runs 31 October - 6 November.

London, UK - 1 November 2016

1. Pull focus of bronze Japanese archer

2. Various of Meiji period Japanese bronze crow with glass eyes

3. Mid of men admiring antique chandelier

4. Various of Dutch walnut armoire from circa 1750 with carved figures (price £35,000/ USD 42,930)

5. Wide of woman reading catalogue

6. Low angle pan right of neo-classical copper bust of Roman goddess by Frederic Auguste Bartholdi (price £16,500/ USD 20,235)

7. Various of Craig Carrington looking at bust

8. SOUNDBITE: (English) Craig Carrington, antique dealer

"As an antique dealer I think a weak pound is very good news because we sell to international clients and if the dollar is strong, the euro is strong then it's very good news for somebody like me, absolutely."

9. Art dealer Tanya Baxter showing painting to visitor

10. Close tilt down of painting 'Paper Bride in Waiting' by Zeng Chuanxing (price £120,000/ USD 147,000)

11. SOUNDBITE: (English) Tanya Baxter, art dealer and gallery owner

"With the devaluation of the pound as well as the fact that Brexit has kind of made a cautious and volatile financial market (art and antiques) it's a very, very safe place."

12. Various cutaways of Tanya Baxter showing 'Paper Bride in Waiting'

13. SOUNDBITE: (English) Tanya Baxter, art dealer and gallery owner

"Well they're so excited particularly American collectors who we are getting calls from saying 'So what have you? Because I want to spend x amount and will fly over to do so.'"

14. Various of art collector David Ryder looking at painting

15. SOUNDBITE: (English) David Ryder, retired lawyer and American art collector

"England is where we have bought probably 90 per cent of the artwork that we have, and we have a lot in numerous houses. We find this is a good country for selection of different artists, both contemporary and old artists, particularly from the auction houses and this is a particularly good time so we're here now and we'll come back in December again to look at more art."

16. Mid of portrait of Angelina Jolie by artist Bambi (price £14,000/ USD 17,000)

17. Tilt up of portrait of Amy Winehouse by artist Bambi (price £16,000/ USD 19,600)

18. Set up shot of art dealer Julian Hartnoll

19. SOUNDBITE: (English) Julian Hartnoll, art dealer and gallery owner

"There's this nice new phrase, the double-boom. It was the English buying immediately after Brexit because they wanted to get out of pounds and get into objects because they were fearing the pound would become valueless. And then the Americans, as the pound subsided, have overcome their fear of terrorism in England and have started to buy again, so for instance last night my only clients were Americans."

20. Various of jewellery seller Morteza Mojarad inspecting antique diamond ring

21. SOUNDBITE: (English) Morteza Mojarad, director of Persis antique jewellery

"I've seen a big improvement, to be honest, since Brexit and that's I think because of the exchange rate, dollar to pound and especially Euro to pounds."

22. Wide pan left of gallery showcasing large marble/ stone artworks

23. Close of 1930s Chinese coral sculpture

24. Various set up shots of David Lafleur, antique dealer based in Paris

25. SOUNDBITE: (English) David Lafleur, antique dealer based in Paris

"Because of the economic crisis, you know, the people were afraid because of the terrorists, because of the tax. A lot of things saw the people leave France. So for us, it's better to come here in London because the people are here, the people from other countries are here."

26. Tilt up of Italian silver and bronze library lamp in style of Pharaoh by Piel Paolo Spaina, circa 1810 (price £8,500/ USD 10,425)

27. Close of marble lioness circa 1780 (price £14,500 USD 17,700)

28. Wide of antique clock stand

29. Wide of grandfather clocks, tilt down

30. Close of Henry Jenkins mahogany table clock circa 1780 (price £75,000/ USD 92,000)

31. Various of woman opening clock and chiming its bells

32. Wide pan left of show floor

LEAD IN:

The art and antique market in post-Brexit Britain is booming, according to London dealers.

A weak pound against the dollar and Euro is seeing American collectors in particular start to snap up bargains.

STORY-LINE:

The art and antiques market in the UK isn't just on target, it's positively booming post Brexit.

Dealers here at the Winter Art and Antiques Fair in Olympia say it's a great time to buy because of the weak pound.

American buyers in particular are attracted to London with the newfound strength of the dollar. Looking to bag a bargain they could save around 25-30 per cent compared to six months earlier.

Craig Carrington is an antique dealer with four decades of experience.

He sells many neo-classical antiques on his stand, but his showcase piece is this bust of a Roman goddess, thought to be designed by Frederic Auguste Bartholdi, the same man who designed the Statue of Liberty.

He says: "As an antique dealer I think a weak pound is very good news because we sell to international clients and if the dollar is strong, the euro is strong then it's very good news for somebody like me, absolutely."

Art dealers are reporting a similar trend.

Tanya Baxter runs a gallery specialising in contemporary pieces. She says since the day of the referendum result, announcing Britain would leave the EU, she's been very busy.

She says many see the art market as a safe investment in uncertain times.

"And with the devaluation of the pound as well as the fact that Brexit has kind of made a cautious and volatile financial market it (art and antiques) is a very, very safe place."

According to Baxter the single largest group of buyers is coming from the USA:

"Well they're so excited particularly American collectors who we are getting calls from saying 'So what have you? Because I want to spend x amount and will fly over to do so.'"

One of the American investors who has come to London to buy is David Ryder.

The retired lawyer, originally from Chicago, had just bought this painting by British artist Amy Pugh. He says it's such a good time to buy, with the strength of the dollar against the pound, that he will return next month to buy more art.

Ryder says: "England is where we have bought probably 90 per cent of the artwork that we have, and we have a lot in numerous houses. We find this is a good country for selection of different artists, both contemporary and old artists, particularly from the auction houses and this is a particularly good time so we're here now and we'll come back in December again to look at more art."

Art and antique dealers haven't just benefited from the dip in the value of the pound. Immediately after the result of Brexit was announced British buyers quickly began to buy art and antiques fearing the collapse in the value of the pound.

Art dealer Julian Hartnoll is calling this a 'double-boom' for the industry.

Hartnoll says: "There's this nice new phrase, the double-boom. It was the English buying immediately after Brexit because they wanted to get out of pounds and get into objects because they were fearing the pound would become valueless. And then the Americans, as the pound subsided, have overcome their fear of terrorism in England and have started to buy again, so for instance last night my only clients were Americans."

Antique jewellery dealers are also benefiting.

Iranian jeweller Morteza Mojarad runs the Persis jewellers off Bond Street in London.

He says: "I've seen a big improvement, to be honest, since Brexit and that's I think because of the exchange rate, dollar to pound and especially Euro to pounds."

But if the situation is good for British based dealers, spare a thought for European antique dealers trying to sell in Britain.

David Lafleur is an antique dealer based in Paris with his shop Gallerie Buter.

The strength of the Euro might be good for some of his compatriots, but when Lafleur sells in the UK he is finding the competition difficult.

However, despite these difficulties he says he will continue to exhibit his Oriental antiques in London because international buyers have been scared away from Paris.

"Because of the economic crisis, you know, the people were afraid because of the terrorists, because of the tax. A lot of things saw the people leave France. So for us, it's better to come here in London because the people are here, the people from other countries are here."

The Winter Art and Antiques Fair in Olympia returns for its 26th year.

Around 100 exhibitors are displaying art and antiques, most are displaying collectibles at the high-end of the market.

It is the only fair in the UK to work with the top two trade associations and there is a strict vetting process for all pieces on sale at the show. Each item must be checked by a team of experts before the fair opens.

The Winter Art and Antiques Fair Olympia runs 31 October - 6 November.

London, UK - 1 November 2016

1. Pull focus of bronze Japanese archer

2. Various of Meiji period Japanese bronze crow with glass eyes

3. Mid of men admiring antique chandelier

4. Various of Dutch walnut armoire from circa 1750 with carved figures (price £35,000/ USD 42,930)

5. Wide of woman reading catalogue

6. Low angle pan right of neo-classical copper bust of Roman goddess by Frederic Auguste Bartholdi (price £16,500/ USD 20,235)

7. Various of Craig Carrington looking at bust

8. SOUNDBITE: (English) Craig Carrington, antique dealer

"As an antique dealer I think a weak pound is very good news because we sell to international clients and if the dollar is strong, the euro is strong then it's very good news for somebody like me, absolutely."

9. Art dealer Tanya Baxter showing painting to visitor

10. Close tilt down of painting 'Paper Bride in Waiting' by Zeng Chuanxing (price £120,000/ USD 147,000)

11. SOUNDBITE: (English) Tanya Baxter, art dealer and gallery owner

"With the devaluation of the pound as well as the fact that Brexit has kind of made a cautious and volatile financial market (art and antiques) it's a very, very safe place."

12. Various cutaways of Tanya Baxter showing 'Paper Bride in Waiting'

13. SOUNDBITE: (English) Tanya Baxter, art dealer and gallery owner

"Well they're so excited particularly American collectors who we are getting calls from saying 'So what have you? Because I want to spend x amount and will fly over to do so.'"

14. Various of art collector David Ryder looking at painting

15. SOUNDBITE: (English) David Ryder, retired lawyer and American art collector

"England is where we have bought probably 90 per cent of the artwork that we have, and we have a lot in numerous houses. We find this is a good country for selection of different artists, both contemporary and old artists, particularly from the auction houses and this is a particularly good time so we're here now and we'll come back in December again to look at more art."

16. Mid of portrait of Angelina Jolie by artist Bambi (price £14,000/ USD 17,000)

17. Tilt up of portrait of Amy Winehouse by artist Bambi (price £16,000/ USD 19,600)

18. Set up shot of art dealer Julian Hartnoll

19. SOUNDBITE: (English) Julian Hartnoll, art dealer and gallery owner

"There's this nice new phrase, the double-boom. It was the English buying immediately after Brexit because they wanted to get out of pounds and get into objects because they were fearing the pound would become valueless. And then the Americans, as the pound subsided, have overcome their fear of terrorism in England and have started to buy again, so for instance last night my only clients were Americans."

20. Various of jewellery seller Morteza Mojarad inspecting antique diamond ring

21. SOUNDBITE: (English) Morteza Mojarad, director of Persis antique jewellery

"I've seen a big improvement, to be honest, since Brexit and that's I think because of the exchange rate, dollar to pound and especially Euro to pounds."

22. Wide pan left of gallery showcasing large marble/ stone artworks

23. Close of 1930s Chinese coral sculpture

24. Various set up shots of David Lafleur, antique dealer based in Paris

25. SOUNDBITE: (English) David Lafleur, antique dealer based in Paris

"Because of the economic crisis, you know, the people were afraid because of the terrorists, because of the tax. A lot of things saw the people leave France. So for us, it's better to come here in London because the people are here, the people from other countries are here."

26. Tilt up of Italian silver and bronze library lamp in style of Pharaoh by Piel Paolo Spaina, circa 1810 (price £8,500/ USD 10,425)

27. Close of marble lioness circa 1780 (price £14,500 USD 17,700)

28. Wide of antique clock stand

29. Wide of grandfather clocks, tilt down

30. Close of Henry Jenkins mahogany table clock circa 1780 (price £75,000/ USD 92,000)

31. Various of woman opening clock and chiming its bells

32. Wide pan left of show floor

LEADIN:

?Sotheby's is aiming to capitalise on demand from Middle Eastern clients by opening a gallery in Dubai, its first in the region.

Over the last five years, the 273-year-old auction house says its seen the number of Middle Eastern clients grow by 76 percent.? ?STORYLINE ? ?Good news for UAE art collectors - when hoping to buy prized items from famed auction house Sotheby's, there's now no need to hop on a private jet to London.

?That's because Sotheby's has opened this new office and gallery space in Dubai's Financial District.

?They're now giving tours of the new gallery space to interested parties.? ?"Sotheby's is delighted to be in Dubai. We are launching our new office and gallery space here in DIFC (Dubai International Financial Centre)," says Edward Gibbs, Chairman of Sotheby's Middle East and India.

"We are travelling some highlights from our global sales. We've got modern and contemporary Arab and Iranian art, we've got arts of the classical Islamic world, orientalist paintings, and we've got some extraordinary pieces of jewellery and timepieces, watches from sales in London and New York."

To christen its new gallery space, the auction house has brought a number of contemporary and traditional Middle Eastern artworks.

?Also on display is a collection of expensive and rare watches.

?The auction house sold the world's most expensive 'super complication watch' for $24 million USD back in 2014.

?Sotheby's is giving Gulf buyers a slightly less expensive taste of that, displaying this 'super complication watch'. Bidding is expected to start from $6.4 to $9.9 million USD.

?Gibbs says one of main reasons to open a gallery in the UAE is the sheer number of buyers coming from the region.

"It's really about the numbers," he says.

"We've been looking at the growth of our client base in the region over the many years and over the last five years we see, participants from the Middle East growing at a rate of 76 percent.

"Then we drilled down into those figures and we see specifically for the UAE 157 percent increase in the number of participants in our global sales.

"And last year alone a 39 percent increase, so that uptick in interest and engagement from our UAE clients has initiated this launch of the office here in Dubai."

Gibbs says the move wasn't prompted by Britain's plans to leave the European Union.

?He says currency fluctuations around Britain's vote to leave the 28-member bloc have actually had a positive impact on their sales.

"There is no connection whatsoever between Brexit and our move here," he says.

"Brexit has interestingly has had a very beneficial effect on our London sales. In fact, we've seen all of our sales since the referendum result back last summer, we've seen all of them performing extremely well. I think the currency fluctuations have actually been tremendous benefit."

Some of the paintings on display here will set wealthy collectors back up to $1.4 million USD. Such as this painting by German artist Georg Emanuel Opiz. ? ?The gallery says it will not only display Middle Eastern art and collectables.

?"We will bring a whole range of different categories and we've, for this sale, for this particular exhibition, we are showing specifically works from the region, but we have plans for bringing highlights of impressionists, for instance," says Gibbs.

"We are talking to our clients, listening to their needs, their wants, their desires all the time and we see that as their tastes evolve and they are collecting patterns develop, we see that they are increasingly international."

Some of the world's biggest art collectors are from the Gulf region.

?But with the recent drop in oil prices, Gibbs says sales have actually gone up rather than down.

"Seems to be quite counter-intuitive. Maybe it's because collecting is a passionate activity and the heart being a stronger organ than the brain people are still buying," he says.

"In fact, with financial downturn often we see the benefit of that in the art market. People are looking for tangible assets, places to invest their money.

"Art gives something that stocks and shares can never give which is huge enjoyment personal enjoyment and enrichment. And statistically the numbers show that far from declining, our business is ever on the upward in the region."

Sotheby's auction house was first founded in London in 1744.

?It stages auctions in London, New York, Hong Kong, Geneva, Milan, Paris and Zurich.

ASSOCIATED PRESS?Dubai, UAE - 16 March 2017

?1. Wide of Sotheby's Gallery space?2. Various of Sotheby's gallery tour?3. Various of Edward Gibbs, Chairman of Sotheby's Middle East and India?4. SOUNDBITE (English) Edward Gibbs, Chairman of Sotheby's Middle East and India:?"Sotheby's is delighted to be in Dubai. We are launching our new office and gallery space here in DIFC (Dubai International Financial Centre). We are travelling some highlights from our global sales. We've got modern and contemporary Arab and Iranian art, we've got arts of the classical Islamic world, orientalist paintings, and we've got some extraordinary pieces of jewellery and timepieces, watches from sales in London and New York."

?5. Pan left from Patek Phillipe's The Calibre 89 watch (starting bidding price $6.4 to $9.9 million USD) to press tour of watch collection?6. Various of tour

7. Various of The Calibre 89 watch?7. SOUNDBITE (English) Edward Gibbs, Chairman of Sotheby's Middle East and India:?"It's really about the numbers. We've been looking at the growth of our client base in the region over the many years and over the last five years we see, participants from the Middle East growing at a rate of 76 percent. Then we drilled down into those figures and we see specifically for the UAE 157 percent increase in the number of participants in our global sales. And last year alone a 39 percent increase, so that uptick in interest and engagement from our UAE clients has initiated this launch of the office here in Dubai."

?8. Various of Gibbs giving tour?9. Various of Georg Emanuel Opiz's 'The Arrival of Mahmal at an Oasis en route to Mecca' ($999,000-1,499,000 USD) ?10. SOUNDBITE(English) Edward Gibbs, Chairman of Sotheby's Middle East and India:?"There is no connection whatsoever between Brexit and our move here. Brexit has interestingly has had a very beneficial effect on our London sales. In fact, we've seen all of our sales since the referendum result back last summer, we've seen all of them performing extremely well. I think the currency fluctuations have actually been tremendous benefit."

?11. Various of tour?12. SOUNDBITE (English) Edward Gibbs, Chairman of Sotheby's Middle East and India:?"We will bring a whole range of different categories and we've, for this sale, for this particular exhibition, we are showing specifically works from the region, but we have plans for bringing highlights of impressionists, for instance. We are talking to our clients, listening to their needs, their wants, their desires all the time and we see that as their tastes evolve and they are collecting patterns develop, we see that they are increasingly international."

?13. Various from Fahrelnissa Zeid, 'Towards a Sky' ($680,317-$803,884 USD)?14. Pan from Mahmoud Saïd, Portrait de Madame Batanouni Bey ($185,541-$309,235 USD) to Bahman Mohasses, Requiem Omnibus (Death of Martin Luther King), ($371,082- $494,698 USD) ?15. Various of Mohasess?16. SOUNDBITE (English) Edward Gibbs, Chairman of Sotheby's Middle East and India:?"Seems to be quite counter-intuitive. Maybe it's because collecting is a passionate activity and the heart being a stronger organ than the brain people are still buying. In fact, with financial downturn often we see the benefit of that in the art market. People are looking for tangible assets, places to invest their money. Art gives something that stocks and shares can never give which is huge enjoyment personal enjoyment and enrichment. And statistically the numbers show that far from declining, our business is ever on the upward in the region."

?17. Various of Sotheby's Dubai exterior? ?