As part of the integration of the art and antiques businesses now under the Stanley Gibbons umbrella, the gallery of dealership Mallett will be used by Dreweatts-Bloomsbury for major sales in favour of established premises at 24 Maddox Street.
Already auction house staff have moved into some of the office space at Ely House and the first auction held there - the sale of scratch-built model locomotives owned by pop impresario Pete Waterman in April - was a logistical, if not an unqualified commercial, success.
Forthcoming sales at the venue (built for the Bishops of Ely in 1772 and Mallett's premises since their move from Bond Street in 2012) include Out of the Box: Contemporary Art since 1990 on June 30 and a 400-lot stock clearance sale titled Mallett at Home: 1865-2015 on July 7.
The auctioneers also believe the premises will have a positive effect on consignments as they seek to move the business upmarket.
Maddox Street Moves
The core of the Bloomsbury Auctions operation, selling books and works of paper, will remain at Maddox Street but will shortly occupy only the lower floors of the building.
Taking their place on the two upper floors are the online auction house Paddle 8. Founded in New York in 2011 and specialising in Contemporary art in the $1000-100,000 price bracket, its team in London has grown from one to 15 people since September 2014.
Aino-Leena Grapin, Paddle 8's managing director for Europe and the Middle East, says that while the business is focused on keeping down the overheads absorbed by a traditional bricks and mortar auction house, geographic location is important.
"Being in the heart of Mayfair helps us be closer to our clients and interact with them face-to-face. This is still a relationship business, even if we sell art online." One floor of the building will be available immediately with the second leased from September. With desires on the design and the jewellery markets, the firm expect the London team will grow to 30 people by the end of this year.
Dreweatts-Bloomsbury have no more than a "flexible marketing partnership" with Paddle 8 whose audience is currently primarily in the US. They will remain wholly separate entities despite their proximity.
Further integration of a series of well-known art, antiques and collectables brands acquired by the Stanley Gibbons group in 2013-14 is anticipated.
Coin specialists AH Baldwin & Son moved to the offices of parent company Stanley Gibbons opposite The Savoy hotel on The Strand in October 2014 following the £4.5m disposal of their nearby offices on Adelphi Terrace.
