After 45 years of business with Spink, in 2010 I arranged to borrow from them up to GBP 100,000 (view the loan contract here). Ultimately all this money and more was spent at Spink or at their auctions. The resultant amount (as calculated by Spink — see documents) was paid in full on the 14th of April 2011 — paid later than planned, but paid in full, according to Spink’s figures as calculated by Spink and delivered to me.

Immediately afterward on that same day, Spink decided to cancel a make-up sale of some of the Barrett property originally left with Spink as collateral — as (with the account paid in full) there were no grounds for selling any of the Barrett property. By this date the amount due had risen to GBP 159,314.93, including interest, all as calculated by Spink’s accounts department.

Upon verifying these payments, long time Spink Director and Banknote Department Head, Barnaby Faull immediately agreed that Spink & Son had been paid in full, and that accordingly he would return all Barrett materials as soon as he could return from a hard-earned vacation.

Subsequently, however, another Director Olivier Stocker decided otherwise and seizing all the Barrett property in storage or awaiting collection at Spink — not only the materials that they had placed into the 14 April auction, but in fact everything in storage or uncollected at Spink, this regardless of whether it had been originally pledged as collateral or was just on hand during this period. Mr. Stocker’s longtime credo would appear to be “possession is 99% of the law”, and, as will be seen from the documents, he certainly makes every attempt to live by it.

Read on to learn how Stocker, together with key Spink management including the Board of Directors, Barnaby Faull and Chief Operating Officer Mira Adusei-Poku, seized GBP 700,000 (= USD 1,080,240 on 14 April 2011) worth of my materials (up to that time held by Spink as collateral), and how on 22 June 2023 this morphed into a demand of GBP 579,612.00 (= USD 738,657 on that date) in “storage fees” alone for storing slightly less than 200 obsolete banknotes they had unlawfully seized in 2011 in the interim.

To these remarkable claims were added an additional GBP 308,516.30 (= USD 393,173 on 22 June 2023) for “auction withdrawal fee of 20% of the mid estimate”, “insurance”, “interest” and “miscellaneous”! (See documents 084 and 092)  This on an initial claim by Spink as of April 14, 2011 of GBP42,800 less a “discount”, leaving a net claim by Spink & Son for a non-contract amount of GBP25,000 (= USD 40,047 on 7 June 2011). (See document 052-053)

These remarkable sums claimed while holding (without colour of right) Barrett materials valued at a minimum of GBP 700,000 (= USD 1,080,240 on 14 April 2011).

If you are considering selling at Spink, you would be well advised to enter any agreement with the utmost caution. Additionally, if you are thinking of purchasing at Spink and paying prior to receiving the goods, you may find your funds seized for whatever claim can be generated in the mind of the Chairman or his COO, Adusei-Poku.

If you have already dealt with Spink and feel you have been in any manner cheated or defrauded or otherwise abused, please forward particulars to William Barrett at the postal address below.

British authorities are keeping this file on hold while awaiting particulars from additional parties who have been maltreated by Spink. As such, if you feel you have suffered at these people’s hands, your input can help all of us greatly in advancing the investigation.

Thank you for your cooperation, and I hope to serve you well,

William Barrett
Montreal

P.O. Box 9, Victoria Station, Montreal, Quebec, H3Z 2V4, Canada