Antiquorum Identifies Majority Shareholder

William George Shuster, Senior Editor -- JCK-Jewelers Circular Keystone, 6/4/2008 9:28:00 AM

Antiquorum, the international watch auction house, has identified its new majority shareholder. He is Gerald Chase, a veteran international business executive, entrepreneur, consultant, and investor. Antiquorum on June 3 formally announced he has “joined the ownership of Antiquorum.”

Chase, who “ represents a group of sophisticated investors,” said the announcement, participated in a recent capital increase of the company by investing 2.2 million Swiss francs (about $2.1 million)—acquiring 51 percent of Antiquorum—and loaned it another 5 million (about $4.8 million) Swiss francs. When Antiquorum announced those financial transactions on May 20, it had only identified him as a “private investor.”

Another large shareholder, with almost 49 percent, is a Hong Kong group called Forever Most Investment Ltd., to which Artist House Holdings, Antiquorum’s former majority shareholder, sold its interest in Antiquorum on May 16 for about $97,000 (10 million yen).

Since the 1970s, Chases has been the owner, or president and CEO of a number of domestic and multi-national companies, including public accounting-, food and restaurant- and real estate-related businesses. He has also been a corporate consultant, involved in the restructuring of some entities' financial affairs, and has specialized in the globalization of domestic companies. He is or has been a member of several companies’ board of directors.

Chase’s other investments include RM Auctions, Inc., an international vintage and classic automobile auction house, where he served on its board until his recent retirement.

According to Antiquorum’s announcement, Chase “has been involved in the watch and jewelry business over the past decade and has participated in buying and selling timepieces at various auctions houses.”