Ritchies Down For the Count?

The dealers at Toronto’s St. Lawrence Antiques Market were buzzing yesterday morning with the news that Ritchies Auctioneers had laid off its staff and closed its doors, likely for good. Last month, Sotheby’s announced it was severing ties with Ritchies over failure to pay consignors for items sold May 25 (payment was due July 8). The two houses had been partners since 2002.

My email inquiry to Ritchies President Stephen Ranger bounced back as undeliverable although the auctioneer’s website and phone lines are still operational with no mention of the closure.

If Ritchies has indeed run out of breathing room, the news is especially bad for those who consigned goods sold at the most recent Discovery Sales July 27 and 28, which is where the photo above was taken. Another Discovery Sale was scheduled for tomorrow and goods for the September Select Sale are already in Ritchies’ possession.

“It’s such a blow to the business,” said one Toronto dealer. “Now where are we going to find the really good quality merchandise?”