In recent years, the market for historical stocks and bonds (known as nonvaleurs) has changed significantly. Several well‑known experts have ended their activities. At the same time, competence, continuity and professional knowledge are becoming increasingly important – especially for collectors, investors and estate administrators who rely on sound expertise.

Since 1986, the Gutowski Auction House has been one of Europe's leading dealers and auctioneers of historical securities. With more than 40 years of experience, international customer contacts and a deep understanding of history, rarity and collector value, the company offers both private collectors and institutions expert advice and market‑driven sales. The firm has particular expertise in the sale of corporate archives.

Vladimir Gutowski stands for:

• profound expertise in valuation,
• fair and widely recognized auctions with international reach,
• and a customer‑oriented business policy valued worldwide.

At auction, you can achieve significantly higher prices than in a direct sale to a dealer, because auction items are sold at the current market value.

My auction commission is 21% of the hammer price. VAT of 19% is added to this commission, resulting in a total deduction of just under 25%.

If your items are not sold, no fees will be charged.

Please contact me via email at gutowski@mail.de

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