James Kemsley got in touch with Funding Options when he required funding to boost his company’s cash flow.
Transforming the auction house model
When people hear the term ‘auction house’, they tend to think of wealthy collectors and high-end artworks. James Auctioneers sought to change that perception by creating a more accessible alternative.
James Kemsley, the company’s founder, has spent the past 10 years building a “new school of auction house”. At James Auctioneers you’ll find everything from odd Aston Martins and jewellery to sports memorabilia.
The auction house specialises in items for people who are looking to find that bespoke piece for their collection, a unique present for a loved one or an elusive piece they’ve always wanted but never been able to find.
James takes great pride in finding all of the auction items himself. He’ll “spend hours doing it each day” even if it means being “up at 3am and working until 5am if, say, there’s an auction in the States or another time zone.”
James Auctioneers specialises in items for people who are looking to find that bespoke piece for their collection.
James has spent the past 10 years building a “new school of auction house”.
It’s clear that after the gavel sounds people will walk away with all manner of different items, but James says he wants everyone who attends to leave with the feeling that “they've all got a bit of a bit of a deal as well!”
It’s easy to see why 60 percent of James Auctioneers’ custom is return trade.
“We aim to create an all-round experience for our clientele – while minimising overheads – so that individuals return to us time and again,” James explains.
All of James Auctioneers’ customers are matched with an account manager, making for a more personalised experience. The purchasing process is quick and next day delivery is the norm.
Funding to take the business to the next level
James has changed the idea of what an auction house is but he doesn’t want to stop there, hoping to make the platform “much broader and attract the kind of crowds that use eBay and Amazon.”
This ambition is why James Auctioneers recently began offering an online service to broadcast their auctions across the globe. But to continue growing the business James needed the capital to support him.
As is the case with most businesses, cash is king and for James it’s a simple equation; “If I can’t buy the stock I can’t make the money.”
With deals to be done there is no time to waste because, as James points out, “at the end of the day, deals have got to be made and you’ve got to have instant access to capital.”
This played a big part in what made Funding Options the perfect partner to help ensure no opportunity would fall through his fingers.
“As soon as I told Funding Options what I needed it was like – bang! Here’s your card and your account and away you go."
With the help of Funding Options’ senior finance specialist Sam, James was able to get his hands on a business credit card from Capital on Tap.
The business credit card is a great fit for a fast paced business like James’, providing him with the flexibility and cash flow needed to secure deals at short notice and at any time of the day.
A seamless process with Funding Options
James was impressed by the speed at which Funding Options dealt with his enquiry.
“The process was seamless and happened really quickly. It was a lot more streamlined than the painful bank processes where you’ve got to provide two to four years of books and jump through seven or so hoops.
“As soon as I told Funding Options what I needed it was like – bang! Here’s your card and your account and away you go,” James explains.
While James was happy to get the help needed from Funding Options at the time, he also built a partnership for the future. James is looking forward to having Funding Options on his side to draw on as his company moves from strength to strength.
After all, as James says: “it’s great to have partners that you grow with.”