John Pye Auctions wins major TRI award

EAST Midlands-based John Pye Auctions has been crowned Asset Valuer/Auctioneer of the Year at the TRI (Turnaround, Restructuring and Insolvency) Awards.

The glitzy awards ceremony took place at the London Hilton on Park Lane.

John Pye Business Assets department – servicing UK recovery practitioners, the insolvency service, banks and lenders – has been recognised for realisation work of assets across a wide spectrum of industries, encompassing plant, machinery, retail, aviation and property for clients.

Amongst John Pye’s 26,000 asset management instructions, case studies judged and approved included the sale of a large commercial unit in Nottingham instructed by a Midland based IP firm, substantially in excess of the asking price of £235,000, realising £338,000.

The company was also recognised for the sale of assets of The Bikeworks Project on the instruction of a Midland based IP firm, which encouraged environmentally friendly transport into the city of Derby.

The project allowed free bike parking and on the instruction to value and dispose of the remaining stock, there was no disruption to this service and the bikes achieved approx. 77% of RRP.

John Pye is the first valuer and auctioneers to win the Asset Valuer/Auctioneer of the Year award for two consecutive years.

Managing director, Adam Pye said: “We are honoured to be awarded Asset Valuer/Auctioneer of the Year and to be recognised at such a high level amongst many other successful businesses. This award is a true reflection of the hard work, dedication and commitment from the team. We accept this award with special thanks to our clients for their loyalty and continued support over the years.”

The last five years have seen rapid growth, with John Pye growing from one UK trading site to 20 across the UK, including the opening of prestigious Mayfair premises in Old Bond Street, London, with recent sales of four F1 cars and an exclusive diamond collection worth £8m.

John Pye consists of five trading departments, having launched two departments since their last Midlands Family Business award in 2014.

The five John Pye Auctions departments are John Pye Retail, John Pye Luxury Assets, John Pye Business Assets, John Pye Vehicles and John Pye Property.