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Local clients in the East Midlands will continue to be served by the presence of a dedicated senior valuer, but the final sale at the former Neales saleroom will be held on February 18.

Dreweatts’ chairman Stephan Ludwig lamented the decision but told ATG the company had concluded it had too much selling space and could not ignore a break clause in the lease on the building (192 Mansfield Road) that coincided with the economic downturn.

Neales, established in 1830, were acquired by The Fine Art Auction Group, parent company of Dreweatts, in November 2005. At the time they joined a network of regional auctioneers, which included salerooms in Donnington, Bristol, Tunbridge Wells, Eastbourne and Honiton.

The Hamptons salerooms in Godalming and Marlborough were added to the portfolio in January 2005 before a consolidation programme saw activities focused upon three selling sites in Donnington, Bristol and Nottingham.

Dreweatts have also announced they will relocate in Tunbridge Wells. Having traded from premises at the Pantiles for 12 years (the former Bracketts saleroom) the firm is moving to an office at 10 Mount Ephraim. From this address the company will continue to service the Kent and Sussex area for valuations with consignments moved to either Bristol or Donnington Priory for sale.

By Roland Arkell