Expansion for North West auction house

Expansion for North West auction house

The Warrington-based auction house behind the sale of some of the world’s most iconic pieces of music memorabilia, has moved into new premises as part of ambitious growth plans.

Paul and Karen Fairweather, who own Omega Auctions, have used a £450,000 funding package from NatWest to purchase a new unit on Sankey Valley Industrial Estate which will allow them to accommodate increasing customer demand.

The premises will create a new hub for the growing auction house, as well as additional storage and office space. Three new jobs will also be created as a result of the move, taking staff numbers to more than ten within the next year.

Famous for its role in the sale of John Lennon’s glasses, Omega Auctions is the only UK-based auction house which specialises in music memorabilia and vinyl records. It has an annual turnover of £1.3m.

A former chartered accountant, owner Paul has always collected music memorabilia. After breaking his neck in a serious road accident while on holiday several years ago, Paul decided to leave his job and combine his passion for music with his business expertise, setting up Omega Auctions with his wife Karen in 2010.

He said: “After my accident I got a whole new outlook on life and knew I didn’t want to be a chartered accountant for the rest of my life. Karen and I started small, but we had a big aim to be a worldwide auction house known for our expertise in music-related collectables. We’ve been incredibly lucky to have been able to sell iconic pieces from the likes of The Beatles and Elvis Presley. Over the past seven years we have grown as a business and thanks to the support of NatWest we are able to facilitate further growth with our new premises and expanded team.”

Mike Denning, Relationship Manager at NatWest, said: “This latest move will provide a base for Omega Auctions, to further grow their business and generate new income streams. We wish Paul, Karen and the team the best of luck for the future.”