The bigger company will become one of the largest antiques auction houses in America, with combined sales of $78m in 2017.
James Julia said there would be a “seamless transition” to the new ownership, with its auctions in February and March being run by the same team and accepting consignments in Fairfield, Maine, as normal. Subsequent auctions will be held by Morphy Auctions and accept consignments at Morphy’s Pennsylvania and Nevada locations.
Jim Julia, founder and president of James D Julia, said he would continue as a consultant to the new company. “Dan [Morphy]’s approach to adopting many of the key components of my business philosophy gave me a great sense of assurance, confidence and satisfaction in regards to the fact that my customers now and into the future will continue to have a wonderful auction experience as they have for many years with Julia’s,” he said.
“I have always admired Dan, his youth, his energy, his tremendous drive and his success. I knew and did business with Dan before he became an auctioneer and watched him as he entered the auction business and the subsequent dramatic growth he experienced. Dan is a superb leader and this was very clear and obvious during our negotiations about the melding of the two companies.
“In transitioning my company to Morphy’s, I will miss the wonderful friends I have developed with consignors and buyers throughout my auctions. I will miss the incredible camaraderie of my auction team and the thrilling and exciting experience of the actual auction. Most importantly, I will miss the satisfaction I received from a job well done.
“I must also say, selling my company to Dan is a great relief.”