Quinn’s Auction Galleries of Falls Church--one of the fastest growing galleries in the Washington, DC metro area--announced this week that it has entered into an agreement to acquire Waverly Auctions, Inc. of Bethesda, Md., one of the oldest and largest galleries in the same area.
Dale Sorenson, current owner of Waverly Auctions, Inc. and internationally recognized book specialist will retain the helm of the operation under Quinn Enterprises, LLC, the parent company of Quinn’s Auction Galleries.
"We are so excited at the possibilities," said Paul Quinn, President of Quinn Enterprises, LLC. "It has been really difficult not to talk about it over the last 14 months," referring to the long negotiations that led to the recent acquisition.
The combined companies will be conducting over 80 sales annually and expect sales revenues in excess of $3 million in its first year of combined operations. Waverly will close down its Bethesda operations with its final seasonal sale in May and will open up at the Quinn’s facility in Falls Church on July 1.
Waverly will continue to operate under the company name as a wholly owned subsidiary of Quinn Enterprises, LLC.
According to Paul Quinn, the key to the success was Dale Sorenson’s willingness to continue to run Waverly. “Dale’s continued involvement was an essential component for us to make this work. He is ‘Mr. Waverly’ and integral to its ongoing success,” Quinn said.
Dale Sorenson, President of Waverly Auctions, said of the move, “Every time we at Waverly have made a big change, the result has been increased business and renewed strength. I felt that it was time to make a change once again, and while in discussion with Paul Quinn it just seemed like a great fit of culture and innovation. Our new relationship will generate fresh ideas and allow me more time to expand and enhance Waverly.”
The new Quinn’s/Waverly relationship will be showcased first at their President’s Day Auction Monday, February 16, 2004 which will feature an important collection of historical signatures and documents with consignments from both companies. The sale will be conducted at Quinn’s Auction Galleries in Falls Church in two sessions: Presidential & Historical Signatures at 11 a.m., and Fine Antiques & Decorative Arts at 1 p.m.
Waverly Auctions, Inc., founded in 1977, conducts nine sales a year which feature fine books, prints, graphics, maps, autographs, atlases and manuscripts. Waverly has an international reputation and is one of the leading book auction houses in the United States and the world. Quinn’s was founded in 1995.
