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His attempts to buy the auction house and the Mallett brand collapsed earlier this month (see ATG No 2303). James Harvey, chief executive of Stanley Gibbons-owned The Fine Art Auction Group, now oversees day-to-day running.

Law first entered into an agreement to buy the two firms in May but his financial backer walked away from the £2.4m deal. Stanley Gibbons has opened up the sale of Dreweatts and Mallett to other interested parties.