THREE weeks after cheque-bouncing dealer Tony Nowaosad vowed to settle his debt at Durrants Auction Rooms, he has still not done so, say the auctioneers.
And ATG have learned of another auctioneer to whom he has owed money for months if not years.
It was on page 3 of ATG No 1899, July 18, that we first reported the alert issued by Durrants over a cheque for nearly £3500 that had bounced.
Auctioneer Miles Lamdin said that despite contacting Mr Nowaosad on numerous occasions – and securing promises to pay – nothing was forthcoming.
Mr Lamdin also supplied ATG with images of the returned cheque and a covering letter from the bank, saying that there were no funds to settle the account.
Shortly after publication, Mr Nowaosad rang ATG to plead his innocence, calling the bounced cheque a ‘hiccup’ and saying the bill would be paid.
As we went to press, Durrants said they had still not received the money.
At the time of his conversation with ATG, Mr Nowaosad, who trades under the name Tudor Antiques out of Bruges in Belgium, told us that he was well known across UK auction rooms as a bona fide dealer.
“I have been dealing for 38 years and attend about 25 auctions a week at the moment,” he said.
He said the problem with the cheque had arisen because he had been buying at several sales and his account had not been replenished as quickly as he had expected to cover all his purchases.
Mr Nowaosad said it was not his habit to bounce cheques, adding that although another had bounced at auctioneers Golding Young since the Durrants sale, when Colin Young drew the matter to his attention he had ensured that the money was paid into the auctioneers’ account within two minutes of the phone call.
Now, however, another auctioneer who does not wish to be named, has confirmed that they have been trying to get payment out of Mr Nowaosad for far longer.
“We have known him for a number of years and everything was fine until a couple of years ago,” said the auctioneer, who says Mr Nowaosad is still promising payment.
Antiques Trade Gazette is the weekly bible of the fine art and antiques industry. Read articles like this every week in the Antiques Trade Gazette or ATG app. Click here to subscribe today.