School boy hopes to record a profit selling at auction
A 12-year-old is hoping his latest business venture will prove to be record-breaking when two lots of vinyl go under the hammer on Monday 23 October at 1818 Auctioneers on the Cumbria, Lancashire border.
The two collections of around 50 records, include albums and 7 inch singles by Madonna. Each is expected to fetch £125. They were given to school boy Barney Coxon by his cousin who was emigrating. This first foray into selling at auction could also prove to be Barney’s most profitable enterprise yet.
The young entrepreneur, who goes to Kirkbie Kendal School, started buying at auction in 2014. His first purchase, a vintage 1970s coffee set, made a £12 profit and was a lesson learned in spotting items from a popular period. Barney then set about buying records to melt and shape them into fruit bowls, which he sold for a small profit.
Mum Clare, who says her son’s favourite TV programme is The Apprentice, explains that Barney’s interest in selling started when he made cakes to share with neighbours. Some of them gave him a pound for his generosity and, although he returned that money, the entrepreneurial seed was sown.
Clare said: “He’s had lots of projects, including jam making, sweet making, upcycling furniture, cushion making, and buying and selling retro ceramics. Last weekend he made a batch of wax covered pine cone firelighters to sell at Christmas craft fairs this year.
“He likes making a little profit and always has a spending project in mind at the end of an earning project. He is keen to try new ideas, suggested by friends and family. And he gets help too. His Nan worked with him on making cushions and sweets and his teachers showed him how to use margins and percentages to test an idea which has boosted his budgeting ability” added Clare.
As for Barney, whose flair and skills were recognised last month when he was awarded Kirkbie Kendal’s Enterprise Cup at their prize giving, he has the following advice for anyone wanting to buy at auction:
“The auctioneers are good at giving advice about what price things are likely to sell for, which is really useful when you are concentrating on buying within budget.”
He says he will put the money he raises from these two lots towards some new golf clubs, his other interest in life.
Barney’s records go under the hammer at 1818 Auctioneers Auction of Musical Instruments, Memorabilia & Vinyl on Monday 23 October at 10am. The online catalogue is available at www.1818auctioneers.co.uk and the sale can be viewed on Friday 20 October between 2pm and 4pm, on Saturday 21 October between 10am and 1pm and also on the morning of the sale from 8.30am.
Picture caption – 1818 Auctioneers expert, Sean Eatherden with Barney Coxon