Hickman Shearer called in to auction off final assets

Hickman Shearer called in to auction off final assets of collapsed diamond specialist Vashi.

This includes, specialist equipment, tech and office furniture all up for sale until July 26.

Vashi had been one of the fastest growing brands in the UK and beyond when it folded in April 2023.

The diamond manufacturer and retailer, which specialised in bespoke jewellery and engagement rings, had opened high-end boutique stores in Bond Street and Covent Garden, London, with further openings planned for New York.

The firm employed specialists in design, casting, setting and polishing diamond jewels and had notched up £100 million in 2021, being valued at £250 million only months before the doors closed after it failed to secure new backing.

The online operation, which accounted for 80% of Vashi’s business, sold to Queensmith, a Hatton Garden-based, award-winning manufacturing jeweller and the UK’s largest retailer of laboratory grown diamonds. Queensmith also employed a number of staff who had lost their jobs as result of Vashi’s collapse.

Now capital asset valuation and equipment sales specialists Hickman Shearer have been commissioned to auction off the remaining assets from Vashi’s West End headquarters and workshops.

On offer are almost 200 pieces of specialist diamond manufacturing equipment, office and photographic equipment, furniture and technology together valued at £200,000.

“Vashi was a highly ambitious company whose popularity and success soared in its early days,” says Hickman Shearer managing director Tim Chapman.

“Queensmith are to be congratulated for taking over the mantle and developing the concept further, while we have the task of securing the best value we can for creditors when it comes to the remaining Vashi head office assets, whose quality reflects the late company’s ambition and initial achievements.”

Those interested in seeing what is on offer can visit our Vashi Sale page or browse the catalogue and bid online via Bidspotter.


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