Tuesday 12 October 2010

OCT 2010-RISING CRESCENDO OF BLEEDING HEARTS

What strange times we live in. It seems impossible to concentrate on the normal, whatever your profession. Distraction after distraction. Every day starts with radio four in the Tavernicus household, and has done for over 30 years, but in the run up to the announcement of the cuts for weeks now we have suffered the daily parade of bleeding heart special interest pleaders, who give out the mantra "of course we understand that there is a need for cuts, BUT NOT ME GUV". Well ,when you add up all the pleaders, there cannot possibly be any cuts, can there??

Wake-up, the debt is at £1trillion already and even after the cuts it will be about £1.25trillion by the end of this parliament. Yes, no reduction in debt; this is a long term rescue. The bank bail out and the recession only account for about a quarter of the problem, the rest is thanks to the munificence of the leaders of the time.

I feel better for that, but, do not despair there is still money around as it does not evaporate. The money that the government does not spend (actually not borrow) means that it can be used by others, hopefully to create the wealth that is badly needed. However, Britain needs to be seen as an attractive place otherwise funds will be in flight. Better to embrace than to fight the inevitable.

Money is still about. Anything Chinese is selling for top sterling. Stumble on a Roman bronze battle mask (found in a field) and £2m pops out. Salvage fireplaces with baronial provenance can turn into £.5m; total haul from the Chatsworth House boot sale £6.5m. And yet there are some signs that trouble is ahead. The 2nd LAPADA fair in Berkeley Square, which last year filled the trade columns, seems to have passed with barely a murmur. Certainly it seemed muted on the day I attended, even if beautifully formed.

Tavern clocks have appeared at auction of late but the shine has come off the prices that might have been achieved two years ago. Blockbusting clocks seem to be thin on the ground. A small number of previously unrecorded examples continue to come to light; Thomas Fardon, John Gill, John Hallifax to name but a few. An interesting unrestored small round dial, unsigned, with the beautiful print of Darby & Joan on the door sold in the USA for about $3500; further evidence that clocks without a signature are unloved. The Wright of Dorking white round dial in restored condition with the same print on the door will set you back a great deal more, (featured in my book "The Tavern Clock").

Not long to wait now (October 20), we need the dust to settle so that we can judge the market direction. That could take a while but the bleeding hearts will be out in force and fighting for air time. Could be time for radio two.