Mr Bruce is a 4th generation auctioneer, and Mr James Badgery, a 3rd.
Theodore Bruce Auctions, owned by Mr Bruce, is to make Tim Goodman's Sotheby's Australia work harder for its money in Sydney, with a new joint venture based there..
Mr Lee Stone, an accountant, is to act as chief financial officer for the group..
In association with Bonhams and Theodore Bruce, Mr Badgery is to launch an auction enterprise in which it aims, according to a joint announcement "to concentrate in the mid tier market and provide a one stop shop for clients. “
In the announcement Mr Badgery added “Professional management of whole collections, household contents and estates is our strength.
"Our key categories will be decorative arts, antiques, modern design and art. We will also offer an alternate selling platform for specialist areas such as jewellery, wine, pens, watches and collectables.
"We will be utilizing the latest internet live bidding technology for all catalogued sales and marketing via a range of internationally recognized and respected websites.”
Mr James Bruce said “I’m thrilled about bringing Theodore Bruce’s high level of service and customer satisfaction to the Sydney market.
"Due to our close relationship with Bonhams I’m confident that we will be able to provide our clients with a complete range of national and international auction services. "
No further details were available, but Bonhams currently operates in Sydney out of offices in the MLC Centre. It was recently reported to be looking at the old Tim Olsen gallery premises in Paddington near the Josef Lebovic Gallery.
The venture appears to be a further move by the chairman of Bonhams, London Mr Robert Brookes, to build a global empire, and especially to knock out Mr Goodman who placed Bonhams in a difficult shareholder situation when he bought the Sotheby's Australia franchise.
Bonhams came to have an equity in a company which owned the Australian franchise for Sotheby's, its main opposition world wide.
The reference to collectables means the venture wants to take on Leonard Joel, a substantially owned Sotheby's Australia subsidiary in which, ironically, a further silver spoon, Mr Warren Joel, (a grandson of the founder) is still employed in a management capacity.
Bonhams is exceptionally well represented in the world collectables market and the Sydney operation should be well placed to draw on this connection.
Mr Badgery lost his silver auction spoon, when in the 1990s, his father Mr Henry Badgery sold the long established auction house, Lawsons, to Mr Rodney Menzies.
Mr James Badgery, whose sister Sally Hardy maintains the Badgery's standard at the art and book department of Raffan Kelaher& Thomas, (with which the new venture will also be effectively competing) continued for a while at the new Lawson-Menzies, launched as a result of his father's sale.
After a spell with the very pro-active Mr Menzies, Mr Badgery went on to work for another, but very colourful, dynamo, Mr Jim Byrnes who was taking on the national auction scene with the launch of ill-fated Cromwell's Australia.
He went on to acquire further auction world insight with the formation of the auction house Badgery's and when this went by the way, joined Gina Lugosi in Lugosi & Badgery's.
This is now Barsby & Lugosi, following the replacement of Mr Badgery, by Mr David Barsby as Ms Lugosi's partner.
Then came a spell with Mr Tim Goodman's Bonham and Goodman.
This collective experience promises to throw a few ripples through the industry if not to "make the auction world shake," as was suggested by one auctioneer, who wished to remain anonymous.
The Badgery name has a long history on the land, while the Bruce's are members of the Adelaide establishment.
Mr Bruce's connections helped bring about the acquisition of the Owston sale for Bonhams against competition from Christie's and Mr Goodman's Sotheby's franchise.
TheodoreBruce Auctions NSWpremises are at 65-73 Queen Street, Beaconsfield near where Mr Tim Goodman used to operate his Bay EastAuctions, now absorbed into a Sydney franchise of Leonard Joel, Melbourne, and their first auction is scheduled for Sunday 24 October 2010.
