Fellows has spoken about its expectations of making approximately £2.5 million of watch sales this year, which it credits with the thriving sub-£1,000 market.
The auction house, which specialises in watches, jewellery and antiques, has spoken about its phenomenal growth in watch sales over the past few years. Three years ago Fellows was barely carrying out watch sales but last calendar year it sold approximately £1.75 million of watches and this year has expectations of about £2.5 million.
Speaking to WatchPro, Fellows managing director Stephen Whittaker said that the success was down to a commitment to low-entry sales.
Whittaker said: "Most people have things for under £1,000 – and there is an active market there. And of course we are also just cheaper – both for vendors and buyers."
Whittaker also credits the success of the Birmingham auction house to hard work from his team. "A lot of other auction houses view us with envy and distrust," he said. "It is very labour intensive what we do – you have to consider the hard work we put in to sell to people remotely, with all the expert descriptions and photography, it’s a huge commitment."
Fellows’ next auction is for Pocket Watches & Accessories and takes place on Monday at 10am.
Whittaker was recently named as a Bremont Retail Titan in the inaugural WatchPro Hot 100, a project that celebrates the individuals behind the British watch industry.