The Market Magazine Issue 9 by Market Publishing Ltd

INVESTMENTS

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BUSINESS

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ENTREPRENEURS

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FINANCE

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ENVIRONMENT

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TECHNOLOGY ■ PSYCHOLOGY

Create the right environment

FOR SUCCESS

GUERILLA

BUSINESS TACTICS!

Spread Betting

EXPLAINED £MILLION

ART MARKET UPDATE EXCLUSIVE

Acclaimed Architect

PROPERTY

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ART

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WINE

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MARKETING

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TRAVEL

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FASHION

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HEALTH

September 2011

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ADVENTURE

9 772045 136006

On Facing Fear Living Life to the Full!

Sir DAVID CHIPPERFIELD Display until 29/09/11

EASY RIDER Charley Boorman

£3.75

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Official government fuel consumption figures in MPG (Litres per 100km) for the C-Class Coupé range: Urban: 18.1 (16.1)-44.8 (6.3),

starts from £30,220.00 on-the-road. Model featured is the new Mercedes-Benz C 180 BlueEFFICIENCY AMG Sport (Automatic) at £36,005.00 on-the-road including optional metallic paint at £645.00, Licence, number plates, new vehicle registration fee and fuel). Prices correct at time of going to print.

Extra Urban: 33.2 (8.5)-65.7 (4.3), Combined: 23.5 (12.0)-55.4 (5.1). CO Emissions: 280 -133 g/km.

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Welcome... to The Market …

“As a dyslexic at school you do struggle. If you’re told, ‘You’re thick!’ enough times, you believe it.” Charley Boorman August 2011

Our cover star Charley Boorman is a modernday adventurer, travel writer and entertainer. In the making of his popular television series The Long Way Round, The Long Way Down and By Any Means, he has carved out a highly successful career with his ‘ordinary’ one of the boys’ attitude, his cheeky, energetic, entertaining manner and his passion for motorbikes. Ian Larby catches up with Charley on page 22 as he talks candidly about facing his fears and embracing life to the full. Charley is president of Dyslexia Action in the UK and is involved in helping to raise awareness of the condition. He is dyslexic himself. “I was diagnosed very early in America. It was a relief to know what I had, I was the lucky one. You are suddenly able to relate to all these things, and realise you are not alone. With the right education and tools you can live with it very easily.” As he says himself, Charley was very lucky to be in the right environment for early diagnosis, this major factor has helped him cope with his debilitating condition and go on to build his successful career. On page 54 our regular business expert, Bev James, asks ‘Are you in the right environment to succeed?’ She adds: “It is important to make sure that your physical environment (how you live), your social environment (who you know) and your mental environment (how you think) are aligned with all you are aiming to accomplish.” The environment we each live and work in can greatly influence our outlook on life and our personal ambitions.

suburban South Croydon. We were not directly affected by the unrest, but just a few miles away the looting and destruction was on a frenzied and vast scale. High-street stores were ravaged by an unrestrained mob of young people and children. The police were powerless, Croydon burned and our community was shaken to its core. The following morning, with the smell of smoke lingering in the air, The Market team took up our brooms and went to help with the clean-up. We felt the need to do something positive, to show that our community was not powerless. We wanted to help to heal the environment that we live and work in from the chaos of the previous night. In our community we realise that we need to ask some difficult questions regarding the social environment our young people are growing up in. The opportunities, motivations and role models they have and what we can do to improve our society. As the Prime Minister said in his recent speech: “This is a problem that has deep roots in our society, and it’s a job for all of our society to help fix it. In the highest offices, the plushest boardrooms, the most influential jobs, we need to think about the example we are setting. Moral decline and bad behaviour is not limited to a few of the poorest parts of our society. In the banking crisis, with MPs’ expenses, in the phone hacking scandal, we have seen some of the worst cases of greed, irresponsibility and entitlement. There is m no ‘them’ and ‘us’ – there is us.” If you were affected by the riots contact the Home Office on 0845 641 4925 or go to www.direct.gov.uk/riotadvice

September As we go to print, the UK is still reeling from the effects of the recent riots across the country. Here at The Market, our main office is in

4 www.themarketmagazine.co.uk

Contact us at info@themarketmagazine.co.uk www.twitter.com/themarketmag Join our LinkedIn Group the Market magazine Download The Market magazine App at the Apple App store

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September

contents 10

This month you could... Our pick of the best things to try, do or buy

Stop press Business news and recent events

Big facts Michelle Martensen investigates the true cost of the August riots

Vintage aircraft Forget the Lear jet... if you want to stand out on the runway buy a vintage jet

Charlie Boorman The modern-day adventurer talks about his travels, his life and why he makes the most of every day

Investing in watches As horology becomes a popular pursuit, we look at some of the world’s most expensive watches and get some tips on what makes a good investment Art market update The outlook for the art market is positive, despite the status of the global financial markets Spread betting Ongoing economic uncertainty means this is a good time to consider the fast-paced world of spread betting

6 www.themarketmagazine.co.uk

Environment While oceans cover 75% of the earth’s surface, just 2.5% of the world’s water is fresh water...

Carol Kinsey US columnist, Carol Kinsey Goman Ph.D, looks at why hand gestures can convey enthusiasm to audiences

Business How can you juggle growth opportunities with a fragile economic enviroment?

Law Make time to sort out your contracts and procedures

Bev James Business expert, Bev James’s regular column

Business expert Pimjot Valia looks at aligning business values with profit; Negotiate to achieve the impossible

Phil Oiley Guerilla tactics for business breakthroughs

Employment LinkedIn – the new recruitment 3.0?

Julie Meyer... ...asks if government is able to encourage the markets

106

Technology and gadgets Our pick of the latest innovations for work, home or play

Fashion From exotic blooms to tribal motifs, fashion gets creative

Investment Fine wine – a vintage investment?

New Zealand wine The Kiwis punch above their weight in the rugby world, but the country’s wine is making a splash too

British Art From Constable to Tracey Emin, British art is some of the most collectable in the world

Gallery View Wonderful art on our gallery wall

Sir David Chipperfield We meet the highly acclaimed architect as he opens two major projects in the UK

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106

Property hotspots overseas Rachel Newcombe takes a look at some exotic locations around the world that could be tempting for property investors Travel Melanie Eilers explores Finca Cortesin near Marbella and finds not only a five-star hotel, but also a prime investment opportunity

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Competition Win a luxury break for two at a hotel of your choice

112

Nutrition Stable energy levels can help improve business performance

114

Fitness Embrace fitness as a lifestyle – and watch your energy levels soar

116

Real Business The inspirations and aspirations of real people in real business

118

Annabel Giles... ...takes a tongue-in-cheek look at the problems with today’s unruly teenagers

120

Charity Despite the global climate of conflict and unrest, one man is on a mission for Peace One Day

122

Book review From sticky marketing to interior design, Gordon Ross reviews the latest book releases

124

Global Diary Our pick of the best events and auctions

128

Do it, then fix it Creative thinking and critique from advertising guru, Dave Trott

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Be Inspired

by Small Luxury Hotels of the World™ The British weather has left a lot to be desired this summer, so let us inspire you with ﬁve ideas for late sun getaways only a few hours away.

2. Monte do Casal, Faro, Portugal

3. Canaves Oia, Santorini, Greece Dramatically clinging to the cliff face, perched high

1. J.K. Place Capri, Italy

Discover the real Algarve

over Santorini’s caldera with

at Monte do Casal, an 18th

breathtaking views, this hotel

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is divided into two sections

the cliffs above Marina

in outstandingly beautiful

by the pretty cathedral of Oia,

Grande, ultra-chic J.K. Place

gardens filled with lakes and

with the recently renovated

Capri is set in manicured

waterfalls close to the ancient

modern and stylish Canaves

gardens with astounding

hill village of Estoi. With an

Oia on one side and the

views over the Bay of Naples.

award-winning restaurant, an

elegantly classic Canaves

The sleek interior, large

exceptional spa, two heated

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infinity-edge pool, delightful

swimming pools and its own

provide high end facilities

cuisine and an intimate spa

botanical garden, it is a truly

and services.

combine to make the perfect

tranquil retreat.

Mediterranean island retreat.

Download the iPhone App slh.com

5. La Sultana Oualidia, Morocco An idyllic retreat on Morocco’s Atlantic coast, La Sultana Oualidia overlooks a glorious blue lagoon

4. Grand Hotel Poltu Quatu, Sardinia, This romantic boutique hotel is dressed to impress: bright white rooms with amazing sea views are seductively splashed with colour, luxurious cave rooms are

surrounded by gardens of swaying palms with a stunning spa, fabulously fresh seafood and refreshing pools. Take a boat trip around the shallow waters of the lagoon or simply laze by La Sultana’s infinity pool until dinner.

hewn out of volcanic rock and the infinity pool has views to die for.

Small Luxury Hotels of the World™ Over 520 hotels in more than 70 countries View all our special offers at www.slh.com Experience another World

Invest

across the Channel…

Our pick of the best things to try, do or buy...

This month you

Enjoy

the ‘craic’… From modest beginnings in September 1954 when just 34 guests attended Galway’s ﬁrst Oyster Festival Banquet, today Ireland’s seafood fest attracts an international clientele of more than 10,000. Now a key event in the country’s social calendar, the celebration includes a wealth of entertainment, including live music, as well as offering an array of seafood, gourmet delicacies and ﬁne wine. The 57th Galway International Oyster & Seafood Festival will be held on the weekend of 23-25 September. More details can be found at www.galwayoysterfest.com

Richard Cannon

could...

London Philharmonic Orchestra

Liu Yang

Look East…

This year’s Edinburgh International Festival – not to be confused with the Edinburgh Fringe – explores Asia’s inﬂuence on western culture. Held across three weeks, it features artists from China, India, Indonesia, Japan, Korea, Vietnam and Russia, covering everything from classical and contemporary music, dance, theatre, opera and the visual arts. One of the many highlights includes a National Ballet of China production (pictured) of The Peony Pavilion, a moving ballet based on a love story by the Chinese writer Tang Xianzu, a contemporary of Shakespeare. The 2011 festival runs from 12 August until 4 September. For further information and ticket details, visit www.eif.co.uk The Peony Pavilion National Ballet of China Edinburgh International Festival 2011

10 www.themarketmagazine.

lisasaadphotography

The love affair between the Brits and French life gets a further boost this month with the arrival of the French Property Exhibition at London’s Olympia on 23-25 September. Whether it’s a permanent move, holiday home or investment purchase you’re considering, it’s a good opportunity to view thousands of French homes on the market, as well as gain access to specialist advice on ﬁnancing and legal issues. Admission is free. www.fpeolympia.com

nocturnal… The theme of this year’s Lucerne Festival in Switzerland is night, where the programme focuses on night music, such as serenades and nocturnes, as well as composers considered visionaries and dreamers. Lucerne’s lakeside setting – nestled among the Swiss Alps – provides a calm backdrop for the sounds of the many orchestras, ensembles, vocal and instrumental soloists lined up to perform. Guest orchestras include the Vienna and Berlin Philharmonics, the Chicago Symphony Orchestra, the Israel Philharmonic Orchestra, the Royal Concertgebouw Orchestra, as well as the Staatskapelle Orchestras of Berlin and Dresden. The Lucerne Festival: 10 August to 18 September. www.lucernefestival.ch

Test

your sea legs… The Southampton Boat Show gets underway this month, with hundreds of yachts, motorboats and dinghies to tempt. For those new to boating, the show offers an ideal environment to get a real taste of life on the water. Visitors are encouraged to jump on board a range of boats for free. Plus, qualiﬁed instructors, diving professionals and experts will be on-hand with tips for everyone from novices to seasoned sailors and veteran boat owners. The show takes place at Mayﬂower Park from 16-25 September. Tickets are available from the website at www.southamptonboatshow.com or via the ticket hotline on 0871 230 7140.

Hit

the red carpet… Improve

Getty Images

your swing… The Alfred Dunhill Links Championship, which has seen stars such as former England footballer Jamie Redknapp (pictured) participate, begins its four-day run on 29 September. The pro-am tournament is well known for attracting a host of celebrities and golﬁng enthusiasts who are given the chance to take on the professionals at their own game. The championship, which will be played over 72 holes, with 168 professionals and 168 amateurs taking part, will be played across three of Scotland’s best-known courses – St Andrews, Kingsbarns and Carnoustie. www.alfreddunhilllinks.com

George Clooney’s new ﬁlm The Ides of March is set to open the 68th Venice International Film Festival with its ﬁrst screening on 31 August. Based on the Beau Willimon play Farragut North, the political drama enters the murky world of the campaign trail as it follows a Democratic governor (Clooney) and his idealistic press secretary (Ryan Gosling) during the US primaries in the run-up to the presidential election. Clooney directed, coproduced and co-wrote the screenplay, which also stars Philip Seymour Hoffman, Marisa Tomei and Evan Rachel Wood. The 2011 festival runs at the Venice Lido from 31 August through to 10 September. For the full line-up, visit www.labiennale.org Photo: © cinemafestival cinemafestival / Shutterstock.com

Please send all new product releases and high-resolution imagery to Michele Martensen. Email: info@themarketmagazine.co.uk www.themarketmagazine.co.uk

News

Entrepreneurial spirit more important than qualifications, say business leaders

Some 60% of respondents, who ranged from CEOs of large multinationals to SMEs, rated creativity and the ability to diversify as key traits in an entrepreneur.

When hiring entry-level graduates, 81% of those surveyed said the most important characteristics were confidence, enthusiasm and an entrepreneurial spirit.

Jean Stephens, CEO of RSM International, said: “Academic qualifications are obviously important, but people skills and entrepreneurialism are assets increasingly sought after by employers throughout Europe.

In comparison, only 20% cited a good academic degree and business acumen among their most important.

“In tough economic times these skills help employees and businesses stand out in crowded and competitive marketplaces.”

Tech update Sony PlayStation to get social networking Apps Sony has just announced that its next generation portable PlayStation Vita, will have Facebook, Foursquare, Twitter and Skype apps. The new Apps will be landing in the PlayStation Store in Japan before the end of the year. The US and Europe will get their shot at the free apps in early 2012.

12 www.themarketmagazine.co.uk

Employee well-being is the key to improving company profitability and staff productivity, says positive psychology expert Melissa Biro. “Well-being and positivity are much more than just the absence of misery and negativity, there are many underlying issues that need to be studied and addressed,” she said. “Relationships should be positive and affirming, employees must have an interest in their work, high goals need to be set and a feeling of accomplishment has to be reinforced.”

Four out of five employers rate strong interpersonal skills, confidence and enthusiasm among prospective employees far higher than more tangible and testable skills, such as a strong academic degree or business acumen, according to a panEuropean survey. The poll – carried out by global accounting network RSM International in conjunction with the European Business Awards – questioned more than 500 business leaders from 32 European countries.

Positive psychology boosts business profits, claims expert

Culture secretary Jeremy Hunt said earlier this year that by 2015 he wanted the UK to have the fastest broadband network in the EU. Recently Hunt’s department said it had allocated £294.8 million to 45 English counties and a further £68.8 million to Scotland. The funds were divvied up from the £530 million that was created by the Coalition in 2010 to help reach the final one-third of homes and businesses (around nine million premises), where BT could not find a compelling business case to invest in upgrading infrastructure. Hunt has always said £530 million will not be enough cash

According to Biro, improving employees’ sense of well-being requires more than just giving encouragement to hardworking staff. “One of the main aspects of positive organisational psychology is getting staff to work to their full potential. This helps companies to achieve better profits, simply because staff are working harder and enjoying the work,” she said.

to pump into all the rural areas still without broadband. However, his department has previously said it was seeking a further £300 million from the government, to reach remote areas of England, Scotland, Northern Ireland and Wales.

Measures to help SMEs access equity financing become law Two deregulatory amendments to the EU Prospectus Directive have been brought into effect a year early to help UK small businesses access equity finance. The changes, which became law on 1 August, mean SMEs can now raise equity finance up to €5 million, rather then €2.5 million. They will also be able to approach up to 150 investors (up from 100) before the requirement to produce a prospectus is triggered. The government says this will save UK SMEs £12 million per year. John Walker, national chairman at the Federation of Small Businesses, welcomed the news, saying: “Extending the number of investors and increasing the prospectus value will help more small businesses access equity finance and show there are more options than just going to the bank for credit. What’s important is that small businesses are aware of the alternative routes to finance.”

Gold house costs £7.5 billion A Swiss property built at a secret location near the Italian border is being billed as the world’s most unique, expensive house. The extravagant eight-room dwelling – designed by Stuart Hughes of Liverpool in collaboration with exklusivHAUS of Zug Switzerland – was built for an anonymous client, who requested “something out of the ordinary”. It includes 200,000kg of solid gold and platinum fittings, as well as flooring made from meteoric stone with shavings of dinosaur bone embedded in each tile. The house took five-and-a-half years to complete at a cost of £7.5 billion.

Employees feel the pinch as cashstrapped ﬁrms axe free drinks Getting your boss a cuppa may be the best way for promotion, but almost half (45%) of British workers don’t get to enjoy a free cup of tea or coffee at work, according to new research from uSwitchforbusiness.com. One third of workers say they have seen their companies cut back on free refreshments over the past year, costing employees more than £110 a year on average. One in ten workers say cutbacks on refreshments have damaged the atmosphere, while a ﬁfth say it has left workers worried about what else may be cut. Meanwhile, just 34% of UK employees think the company they work for is generous

to staff, with four in ten describing staff perks as poor. Furthermore, one third of Brits say the quality of perks offered inﬂuences their choice of employer, with 16% using it as a gauge for what the company is like – ie, if the company is mean about tea and coffee, what else are they mean about? James Constant, director of uSwitchforbusiness.com, said: “Given the economic climate it makes sense to cut costs. However, it’s also vital that companies send out the right message to loyal staff. Perks such as free tea and coffee do add up, but the cost is minimal when compared with the value that staff place on them. Cutting out the free cuppas may add to the bottom line, but there may be a far greater price to be paid in staff morale.”

In brief The UK government is touting a new scheme to encourage people to donate pre-eminent objects or works of art to the nation. In return, donors will receive a reduction in their tax liability based on a set percentage of the value of the object they are donating. The consultation runs until 21 September and can be accessed via www.hm-treasury.gov.uk.

An index that tracks conﬁdence in the outlook for trust and estate business over the next 12 months has revealed growing doubts about the economy. The conﬁdence survey from the Society of Trust and Estate Practitioners, which looks at members’ views across a wide range of jurisdictions and trust and estate businesses, dropped from 28 to 23 – the lowest it has fallen since 2009.

The government has published a consultation on proposals to encourage investment in startups and small businesses with high growth potential, through the reform and simpliﬁcation of the Enterprise Investment Scheme and Venture Capital Trusts. It is also seeking views on proposals to support seed investment through the tax system. The consultation runs until 28 September and can be accessed at www.hm-treasury.gov.uk.

ECGD, the UK’s export credit agency, backed £2.92 billion of British exports in 2010-2011, up 33% from £2.21 billion in 2009-10, according to ﬁgures released in its annual review. However, the number of guarantees and insurance policies issued dropped from 198 in the previous ﬁnancial year to 192 in 2010-2011. ECGD earned premium income of £96 million, compared to £58 million in 2009-10.

www.themarketmagazine.co.uk

Big Facts

RIOT

DAMAGE

What are the costs and what help is available to those affected? By Michele Martensen

Fact 1

Close to 49,000 shops, restaurants, pubs and clubs were directly or indirectly affected by the August riots. That’s more than 10% of the country’s retail and leisure businesses, according to estimates by the Local Data Company (LDC). Of these, more than 65% are independent businesses with fewer than five outlets. “The retail sector is a major contributor to inner city regeneration projects, as well as employing thousands of people,” said LDC director Matthew Hopkinson. “The fact that more than 65% of those affected are independents shows how random and thoughtless the actions of this criminal minority are.”

Fact 2

Four nights of unrest led to around 28 town centres being hit by violence and looting. In Croydon, the family-run Reeves furniture store, which had traded for more than 140 years, was burnt to the ground. In the leafy west London suburb of Ealing, rows of independent shops and restaurants were looted and cars and shops set alight, in a rampage that went on until around 5am. “These businesses are the livelihoods of many people and the ability to bounce back from this has yet to be seen,” said Hopkinson. While it’s too early to determine the wider implications for sectors such as tourism, property or foreign investment, most commentators predict there will be little long-term impact – unless, of course, civil disorder becomes a regular fixture on UK streets.

for loss of trade as well as damage. It has urged anyone affected by the riots to contact their insurer as soon as possible. Businesses and homeowners without insurance or with a policy that does not cover riot damage can claim compensation under the Riot Damages Act. However, compensation under this is limited to building and contents loss or damage. It does not cover vehicles, personal injury or loss of trade.

Fact 4

A number of advice lines have been set up (see box). The Home Office has set up website support along with a hotline to help guide people through the compensation process. Its application deadline has been extended from 14 to 42 days. HMRC has also issued a helpline for those unable to pay tax bills. It said it would arrange payment schedules for any businesses or individuals facing “shortterm financial difficulties” as well as offer

“practical solutions” where, for example, tax records have been lost or destroyed. In these instances, HMRC says it will review any penalties and withhold additional surcharges triggered by missed deadlines.

Fact 5

Support is also being offered by a number of high-street banks. Royal Bank of Scotland and NatWest, for instance, say they will provide interest-free and fee-free loans of up to £25,000 over a six-month period for small businesses that have been directly affected. But, says British Retail Consortium director-general, Stephen Robertson, this short-term help needs to be followed by a long-term plan of action. “The retail sector has been battling difficult trading conditions for much of this year… Our high streets need action that will revitalise them in the long-term. When the rubble has been cleared and stores have reopened, there will be bigger, underlying problems still to address.”

Riot Advice Lines:

Tel:

Online:

HMRC

0845 366 1207

www.hmrc.gov.uk

Home Office

0845 641 4925

Claim forms can be accessed at www.direct.gov.uk/riotadvice or www.businesslink.gov.uk

The insurance industry is expecting claims in excess of £200 million. According to the Association of British Insurers, many commercial insurance policies will cover business owners

14 www.themarketmagazine.co.uk

dutourdumonde / Shutterstock.com

Fact 3

Enjoy going to work Even if being there is a drag Before you get down to the taxing business of earning a living, follow best practice and get to work in a Fiat 500. As well as being great fun to drive the TwinAir Turbo 85 BHP engine is the lowest emission s petrol car engine in the world*, so you pay no road tax . You’ll also get a kick out of the total black alloys and sport interior. And if your working day starts to feel like it will never end just remember, you get to drive home when it does. Are we on the same page? The Fiat 500 TwinAir. Everyday fun.

CO2 95 g/km • Mpg 68.9 • BIK 10% fiat 500 twinair from just £169 per month for business users Email fiat.fleet@fiat.co.uk or call us on 08446 623 648 for more info.

TWINAIR everydayfun fiat.co.uk †

Fiat, the car brand with the lowest average CO2 emissions in Europe. Fiat 500 TwinAir, the lowest CO2 emission petrol car engine in the world*. Fuel consumption for Fiat 500 TwinAir: mpg (l/100km) and CO2 emissions: Urban 57.6 (4.9), Extra Urban 76.3 (3.7), Combined 68.9 (4.1). CO2 emissions 95 g/km.

Above rentals based on Fiat 500 TwinAir on Contract Hire payment profile of 3 rentals in advance (equivalent to £507) followed by 35 monthly rentals of £169. All rentals exclude VAT and maintenance. Based on 10,000 miles per annum. Excess mileage charges apply. Vehicles must be registered with Fiat Contract Hire before 30th September 2011. Offer subject to status, a guarantee and/or indemnity may be required. Offer correct at time of going to press and may be varied or withdrawn at any time. Subject to availability. Fiat Contract Hire, 240 Bath Road, s Slough, SL1 4DX. Under current DVLA regulations there is no charge for vehicle excise duty in the first year of registration and every subsequent year. Vehicle Excise Duty rates are reviewed annually by the government and are subject to change.†Source: JATO Dynamics. Based on Volume-weighted average CO2 emissions (g/km) of the best selling brands in Europe, year 2010. *According to NEDC standard.

Winging

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Richard Paver

Forget the Lear jet... if you want to stand out on the runway buy a vintage jet! By Andy Round

went shopping for a vintage aircraft the other day. It was easy. I just called Neal Perkins in the US. “Well, what do you fancy?” he laughed. “I’ve got a 1955 Cessna 180; a 1951 Lockheed T-33 or a nice decommissioned 1967 MiG21 ﬁghter jet. It’s just US$279,000, been superbly maintained and ready to go.” Wonderful. So for the price of a small semi in Manchester, I could own my very own ﬁghter jet? “Yes, sir,” said Perkins, who is a pilot for a major American airline, on the board of directors for the Tennessee Museum of Aviation and sells aircraft for airplanesusa.com. “But it’s a good idea

to get some training before taking on something like a MiG. I mean without training, well, it’s like asking to die.” Indeed. But what an idea. Any billionaire Tom, Dick or Prince Harry can buy a nice shiny modern aircraft, but a sure-ﬁre way to make a big impression on the rest of the jet set is to go vintage. The shining example of this is John Travolta, who owns a giant Boeing 707-138B (as well as four other jets). Frank Sinatra formerly owned the ex-Qantas passenger carrier and it makes you wonder what used to be served up in the old bird in addition to the chicken and ﬁsh.

Anyway. The big worry with jet ownership is maintenance and storage. To solve this challenge Travolta simply moved his family into a US$5 million mini-airport terminal complete with 1.4-mile runway, control tower, luxury house and stables. Somehow the children always know when daddy is pulling up in the driveway. But what about aviation enthusiasts who don’t have Travolta-sized budgets? “There’s no way round it. Owning an old aircraft is not cheap,” Perkins told The Market. “Jets are rich boys’ toys. They burn a lot of fuel – between 180 and 400 gallons an hour. Then there is maintenance, the cost of a hangar,

www.themarketmagazine.co.uk

John Travolta - a licenced pilot

Jay Town/Newspix / Rex Features

Gloster Javelin

National Cold War Exhibition

insurance and sourcing spare parts. I know of a T-33 (trainer jet) that was sold recently for US$50,000 but to make it flyable you would need US$70,000.”

Hawker Hurricane in the grounds of a technical college during a trip to India. “A tree was literally growing through it,” Ellis grins. “It took more than four years

Blimey. What about something perhaps a little less jet-like? A nice World War II Spitfire perhaps? “To fully restore a Spitfire from the ground up… you’re looking at around £2 million,” says Ken Ellis, editor of Flypast the best-selling aviation monthly magazine in the UK. “It is a major job because so many of the parts need to be reverse engineered to be made airworthy.”

The big worry with jet ownership is maintenance and storage...

One of Ellis’ favourite stories is that of Peter Vacher, who discovered a rare

of wrestling with bureaucracy to get the Hurricane released, but once it came

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back to the UK, I discovered that the fighter had been involved in the Battle of Britain.” Eight years, a small fortune and 28,000 man-hours later the fighter was back to its former flying glory. Restoration requires obsessional attention to detail. “Kermit Weeks, who owns the Flight of Fantasy aviation museum in Florida, was having a Grumman Wildcat restored when he found out that the rivets were historically inaccurate by six months,” says Ellis. “During 1941 there had been a change of rivet type halfway through the year… so he had every one of the 12,000 replaced. It was completely the right thing to do.”

Albert Heidinger, Raptor Aviation, LLC

“So for the price of a small semi in Manchester, I could own my very own fighter jet?”

Kermit Weeks

Albert Heidinger is a pilot who spends two weeks of every month flying internationally, he is also a broker for Raptor Aviation selling business jets, helicopters, propeller aircraft and even carries out military contract work. So who are his clients? “They are people who are passionate about aviation who want to play,” he says. “There are those who dream of owning an aircraft and then find it is within their reach – like lawyers, dentists, business owners. And they treat their aircraft in the same way as someone with a vintage Ferrari. They wake up on a Sunday and think what a great day for a fly. They probably use their aircraft 25 to 50 hours

a year. Then there are the collectors such as Kermit Weeks or Paul Allen who have pockets deep enough to spend US$3 million on a project,” he adds. Ah yes, Mr Allen. This year Forbes listed the Microsoft billionaire as the 57th richest man in the world with a US$13 billion fortune. He also loves aircraft. Allen’s real-life toy box is a museum called the Flying Heritage Collection in Washington that features a priceless collection of the most iconic aircraft of World War II, including Spitfires, Mustangs and Messerschmitts as well as one of the world’s best restoration facilities. What was his inspiration?

“I was just fascinated by making models of aircraft as a boy,” he says. Now he makes the real thing. But sourcing classic aircraft can be a challenge. In the 1990s, for example, as the former USSR fell apart, aircraft from Eastern Bloc countries were cheap and easy to find. You could pick up a MiG17 for around US$35,000. But they were notoriously difficult to buy because of unpredictable webs of ‘interested parties’ and negotiations involving suitcases of cash. Today no reliable aircraft company would compromise their reputation with dodgy deals.

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Six Trojan Horsemen

CMY

A sure-fire way to make a big impression on the rest of the jet set is to go vintage... “Aircraft have to be bought from official sources today,” says Heidinger. “Moving a jet around the world requires huge amounts of official paperwork. They have to be demilitarised and special licences obtained to allow them to be flown. In many countries it is forbidden to use the aircraft for commercial gain.” Of course, occasionally you can pick up a vintage bargain at auction. Last year a 1917 MF Seagull Flying Boat – built by Glenn Curtiss, arch-rival of the Wright brothers – was sold by Bonhams in New York for US$506,000 and in 2008 the auction house sold a Spitfire for £1.1

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million to an unnamed Asian buyer collecting for a museum in China. In 2009 the adventurer and financier Steven Boultbee Brooks bought a MKIX Spitfire at another Bonhams auction for an eye-watering £1.7 million. Brooks, who became the first person to fly pole to pole by helicopter, described the aircraft as “woven into the fabric of world history an icon of the age”. After the sale he admitted that he “had gone slightly over his budget” but added: “I’m a great believer that things like this were built to be used, not to be museum pieces.”

The historic thrill of owning something as unique and era-shaping as a World War II aircraft is difficult to describe, but Neal Perkins gives it his best shot. As a former owner of several ‘warbirds’ he is captivated by their romance. “What’s the appeal of these aircraft? When you stand next to a Spitfire and hear its snarling engine or experience a Mustang growling out of the sky towards you at 380mph, you can’t help it, the hair stands up on the back of your neck. I’ve had the privilege of flying a P47 Mustang. There’s only one seat, you’re on your own and… it’s just unbelievably exciting.” m

Adventure

Charley Boorman

EASY RIDER

Charley Boorman is a modern-day adventurer, travel writer and entertainer. His charismatic “let’s just do it” approach to challenges has won him over to a massive TV and literary audience. Ian Larby caught up with him between trips and asked him about his life and adventures.

ou have just got back from Canada filming a new series, Extreme Frontiers. Can you tell us what it is about? After doing my TV show By Any Means, I did the Race to Dakar, The Dakar Rally, where I crashed and broke my hands and didn’t quite manage to finish the race, but it was an amazing experience. I’ve done all these things, and raced through amazing countries, but you don’t get time to learn much about these places. The idea behind Extreme Frontiers was to choose a country and really get to know that one country. We decided on Canada, the second largest country in the world. Extreme Frontiers is obviously about extremes; it’s about climbing a 3,000-metre mountain, going up vertical cliffs, pushing yourself to your limit. It’s rodeo riding a bull, extreme mountain biking, heli-mountain biking. All sorts of different activities. The Frontier part of it was to explore the whole country, the culture, people, and learn how Canada

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has grown into the country it is today. I hope it will give the audience a really good picture of Canada. Earlier this month you climbed Mt Fable in the Canadian Rockies. Was this your first mountain climb? I remember the biggest mountain I’d climbed before then was the Sugarloaf, in the Wicklow Mountains near Bray, in the West of Ireland where I grew up. You could probably climb it in a couple of hours. So yes, Mt. Fable…we went with this guy called Barry Blanchard, who’s a fascinating Canadian. He has climbed Everest and all the big mountains, and has a history of all these incredible feats of bravery. He’s a stunt climber who worked on Cliffhanger with Sylvester Stallone, and was working with me as my guide. So he took us to this mountain, we got a helicopter in and started to climb, and suddenly I found myself clinging to this

cliff, with a vast drop below me. You could die. You’re just held up by these little bits of metal driven into a crack in the rock. You just think what the hell am I doing here? The whole climb was great, and fantastic, and he’s a hilarious guy. It was great fun, but took a lot of concentration. We got halfway up, and we looked out across the whole Rocky Mountains. It was almost a biblical moment. I was thinking: “Christ, this is incredible, I should have got into climbing years ago.” I was having a great time up until we got to the top of the mountain. Up there is a long ridge that we had to climb to get to the summit, there was a 500ft sheer drop on either side. At that point I lost the will to live, as well as the ability to control my bodily functions. I just ended up on my hands and knees, crawling across this ridge. Barry, who’s done it all before, was walking along like he was on a pavement in Piccadilly. He had me attached to a

“You’ve got plenty of time to sleep when you are dead, so just get on with it. You know… life is fun.”

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piece of rope and he was just casually walking along. I felt like he was taking his dog for a walk! You said you were totally out of your comfort zone. Completely out of my comfort zone. After having that wonderful biblical moment, it was ruined an hour later by the crawl across this ledge. But when you get to the summit, it’s like WOW! That sense of achievement is wonderful. So looking back on it, you enjoyed the total experience? It’s like all these things. When Ewan and I did Long Way Down, and Long Way Round, or when I did the Dakar Rally. It’s actually the terrifying moments that you remember in life. You don’t remember the day you spent relaxing on the beach, when nothing very much happened… Your early life was spent in Ireland on a farm. Can you remember your first ride on a motorbike? Yes, I was about seven years old. It was a little monkey-bike I managed to get going. I was going quite fast and going right past my father. I remember him just grabbing me by the hair and pulling me off the bike, right before it crashed into a wall. I was left hanging there by my hair, as the bike wrapped itself round the fence. As a child you were directed by your father, John Boorman. Did acting come naturally to you? Yes, I suppose it did. I was always hanging around film sets. My father travelled all over the world with my whole family, my three sisters and myself, and we were all thrown into the movies when they needed a kid. Dad always had us as child labour. I’m heavily dyslexic, and my father encouraged me to be in the movies as a way to express myself and give me confidence. It’s always been there, and I’ve always enjoyed it. I have made many films with Dad. A lot of people never get the chance to work with their Dad, or they can’t work with their Dad. It is nice to be able to have a good working relationship with your father. So, do you have any ambitions to continue acting? I was quite successful in the 80s, and

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then my acting career faded out. It was partly because I kept choosing movies based on the location, rather than the script. I would be sitting on a plane going to Africa, reading the script, and thinking “Oh dear!” Then I did these programmes with Ewan, and now people see me as an adventurer, not an actor. But who knows? One day. I’m still waiting for that call from Spielberg! As you’ve mentioned, you are known for having dyslexia. How early was it diagnosed? How did it affect your education? It was diagnosed very early, in America. It was a great relief to know what I had. You find you have problems with short-term memory, or trouble with this, or with that. You are suddenly able to relate to all these things, and realise that you are not alone. Early diagnosis is really important. I was taught tools to help me live with it, because it never really goes away. I was lucky. I’m the president of Dyslexia Action

“At that point I lost the will to live, as well as the ability to control my bodily functions! I just ended up on my hands and knees, crawling across this ridge.” here in the UK. There is a lot of help out there for kids, but it’s not really enough. As a dyslexic at school you do struggle. If you’re told “You’re thick!” enough times, you believe it. What does your work at Dyslexia Action involve? Awareness, helping with fundraising, getting involved in projects, talking to the media to get the message out there, just trying to make people aware. It’s one of those disabilities that’s unseen, so when someone looks at you, you appear perfectly normal. A lot of people think you are making it up, or you’re thick, or whatever. We are just

trying to get people to realise that it is a very debilitating thing to have. With the right education and tools you can live with it very easily. Sir Richard Branson is perhaps the best-known dyslexic businessman… Yes, Sir Richard, Jamie Oliver, Eddie Izzard, Einstein. There is a whole raft of people who are dyslexic. There are a lot of entrepreneurial people who are dyslexic. They are creative because they have to think outside of the box. The traditional way of doing things is not achievable for a dyslexic, so you are constantly finding new ways to get on with your life. I think it makes you quite entrepreneurial. So, do you think you have a good head for business? Yes, I think so. Long Way Down, Long Way Round and all the TV shows that I’ve done, are produced through Russ Malkin and myself and our own production company. We come up with the ideas, find the money, we do the whole thing. It’s a proper business. In 2009 you went to Helmund Province. How did meeting the troops affect you? It was an extraordinary experience. I went out with comedian Ross Noble to entertain the troops, and we did talks and stuff like that. We went to Khandahar and Camp Bastion and got to have a good look around, to see what they are doing. It is a massive operation out there, I mean, huge. They say we are pulling out, but all I could see were cranes and building sites, and a new runway was being built while we were there. It doesn’t look like we’ll be out of there any time soon. The runway is as busy as Gatwick, but the difference is it is used by unmanned drones, fighter jets, massive helicopter gun-ships. It’s just extraordinary being out there. We chatted to a lot of guys who had just come back in from patrol. One of the things that struck me was just how young a lot of these guys are, and the weight of responsibility they have is enormous. You just think, Christ, the war is being fought by these 18 to 25year olds. The stress of watching your friends getting blown up or shot must be horrendous.

Like most people in their mid-40s you have experienced hardship and tragedy, yet you remain both buoyant and positive. What do you put this down to? Stupidity! I’m just thick really! It all just goes in one ear and out the other. No, not really. I lost my sister to cancer about 15 years ago; she had ovarian cancer, which is the silent killer. We had just had my first daughter, and were very privileged that Telsche got to meet her before she died. It made me realise that you can cop it at any time, and that you’ve got plenty

of time to sleep when you are dead, so just get on with it. You know, life is fun. Life should be fun. It’s a different type of question but, tell us what part your dog played in your cancer diagnosis? Oh well! My wife had taken the dog to the vet, and the last thing he checked was his balls, and one of them felt a little bit strange. He said: “You should keep an eye on that, it could be testicular cancer.” My wife said: “Christ! One of my husband’s testicles feels a bit odd!” He replied: “He

should get it checked out.” She ran home with the dog and said: “Charley, get to the hospital!” So three days later I ended up on an operating table. The doctor comes up with a marker pen to mark which testicle to take off, and I started to think: “What if he takes off the wrong one?” I grabbed the marker pen and started to do it myself. The doctor said: “Do you think that’s a good idea? You’re dyslexic, you might get them mixed up, and mark the wrong ball!” So I let the doctor do it. I kept saying: “Just take the right one off”. They replaced it with a falsie.

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“I had my crash in the afternoon, and rode the rest of the day with two broken hands. I rode something like 450 kilometres with two broken knuckles and my thumb pointing backwards! I thought I’d be fine...”

On a serious note, you do need to give your testicles a grope once a week to check they’re ok. Just make sure they both feel exactly the same. I like to get my wife to do it for me, then I check her boobs for her!

York.” We started looking into it, but it was going to take four months, be very expensive and I couldn’t afford it. Then we hit on the idea of doing a book about it, and that led to the idea of doing a TV show about our trip, as a way of paying for it.

In 2004, you and Ewan McGregor made the first of your Long Way trips, riding motorbikes around the world. Where did this idea come? I’ve known Ewan for about 15 years. We met on a film set, and the first conversation we ever had was about motorbikes, we did some small bike trips together. Then we got to talking about doing a longer trip together.

What types of specialist equipment did you take with you? Baby wipes. Especially with a motorbike – you don’t want a rash on your bum! The key bits are the motorbike and a really good sleeping bag, a really good roll mat and a really good tent. If you are dry, warm and comfortable at night on those trips, then you can get good night’s sleep. It’s important, when you are in those stressful situations during the day, to be able to get a good night’s sleep.

Originally we were just going to go down to the south of Spain. Then we thought we’d do a longer trip. Then Ewan suggested we do a trip to China, as his wife grew up in China. “We can go and see where she grew up.” One day he rang me up and said: “Come over I have a great idea.” I went over and he had this great big world map out, and he said: “If we are going all the way to China, we might as well go across the Bering Straits and head across to New

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We were approached by Bremont to test its watches. We wore those watches all the way down across Africa, and smashed the hell out of them, and they kept on working. We were proud to be part of that, to help a British company that makes beautiful watches. Both you and Ewan are ambassadors for UNICEF. What effect has visiting their projects

around the world had on you? I’m very proud to be an ambassador for UNICEF, and we’ve been involved for six or seven years. We wanted to visit UNICEF projects around the world as we went on our trip, incorporating it into the TV show, as a way of raising awareness of the issues facing children. We raised a lot of money and awareness. Children are our future, but that’s why it amazes me how many children are abused, abandoned and forgotten around the world. UNICEF deals with those difficult issues brilliantly. In 2006 you had to retire from the Dakar Rally with broken wrists. What is the rally like and do you have any plans for another attempt? Yes, I do, I’d love to do another one. I’ve got my eyes set on the Baja 1000. It’s a 1,000-mile race in 24 hours that takes place across a desert in Mexico.

The Dakar Rally – I’d love to do that again. It’s a brutal thing. We did 16 days and 800 kilometres each day. The bit I did was across the Sahara Desert. It’s tough! It’s a massive event. There’s 260 bikes,

200 cars, 100 trucks that race across the desert; 500 support vehicles, 400 journalists, 20 aircraft and 10 helicopters. They have to feed 2,500 people every night, and that whole tented village moves 500 kilometres every day. The race is broadcast to 36 different countries live. It’s so extraordinary. Out of the 260 bikes that started, only 67 finished! People were badly injured. Andy Caldecott lost his life that year. He was a very experienced Australian rider. It is a dangerous race to do. The chance of getting injured or killed is very high. I crashed on day five. I had my crash in the afternoon, and rode the rest of the day with two broken hands. I rode something like 450 kilometres with two broken knuckles and my thumb pointing backwards! I thought I’d be fine, but the doctor said: “You won’t be able to ride, you won’t even be able to wipe your own arse!” The following year you were reunited with Ewan in The Long Way Down from John o’ Groats to Cape Town. What was it like working to such tight schedules? Well, you know we all have tight schedules, don’t we? It doesn’t matter how much time you give yourself, it is never enough! You just have to try to deal with it. You have been back to Africa with Ross Noble and are planning to return again this autumn. I’m heading out to Africa on Saturday. I’m going to Kenya for two weeks with my wife and kids. I’m potentially doing a TV show in Africa with Ross Noble in January. Would you say Africa is a biker’s paradise? Yes, it is. It’s pretty much paradise for anybody. It’s awesome. If you like landscapes, overland travel, wildlife and slightly risky camping, then it’s paradise. Africa is a wonderful place. Most of Africa is not dangerous, and 99% of people in Africa are just lovely. You want to avoid a few places, such as the Ivory Coast and Libya. The people are lovely, it’s just the governments that screw it all up.

How different was the experience travelling By Any Means down to Sydney and then up to Tokyo? The concept for the show was to go by any form of transport; buses, trucks, boats, elephants, tuk-tuks, anything you fancied really. Going through Eastern Europe, India and Indonesia were totally different to Africa. I must say, I love Indonesia, the people in Bali and all these places. It’s just fantastic fun. We had some pretty horrific times on that trip too. Every time I got on a boat it would sink or get stuck in storms for days. On the way from Timor to Darwin

“I’m the president of Dyslexia Action here in the UK. There is a lot of help out there for kids, but it’s not really enough. As a dyslexic at school you do struggle. If you’re told “You’re thick!” enough times, you believe it.” we spent three days in 15 metre swells, it was horrendous, but I look back on it and chuckle now. Going into Nepal, arriving in Kathmandu in a little tuk-tuk was amazing. The only continent you haven’t travelled in is South America. Do you still have plans to do The Long Way Up from Cape Horn to Alaska? Yes. Ewan and I have often talked about doing a third one. We haven’t made any firm plans as yet. He’s busy, I’m busy and these projects take a huge amount of time. It’s just a matter of getting it to work timing wise. You are well-known for your theatre tours, with a new season starting this October. What form do they take? They’re speaking tours really, an

evening talking about my life, how I met Ewan, how it got started. There a lot of funny stories from along the way, that didn’t make the book or the TV show. I show a bunch of video clips, so it’s a good fun evening. All the information about my tour is on my website, www. charleyboorman.com, along with pictures and video clips. How do you combine all your travelling with bringing up a young family? I’ve always travelled. When I was six months old I went to America, because my father was directing films in Hollywood. When I met my wife I was travelling, so my kids are used to me travelling. I may be away for three or four months at a time, but when I’m back, I’m really around. They always come out to meet me wherever I’m working at the end of the trip, so they can have some experience of where I’ve been. I show them some UNICEF projects, so they get a real feel for what I’m doing and the countries I’m going through. Hopefully, I’ve instilled a love of travel in them, as my father did in me. What plans do you have for the future? Well, I’d love to do another Extreme Frontiers, or a few in different countries. I’m also working on a separate project in South America. You have just got back from filming in Canada and you are just about to leave for Africa. Where are you going? Yes, I’m leaving on Saturday for Africa. I’m just home here for a week, then away for eight weeks. I do these motorcycle tours. Where I take 20 people from Victoria Falls to Cape Town, all on bikes and about 80% off-road. I’m scrabbling to get it all m together right now! To keep up to date with Charley visit www.charleyboorman.com Or follow him on Twitter @charleyboorman By Ian Larby

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Time By Saul Wordsworth

atch collecting – or horology to give it its proper name – is a relatively recent pursuit. High-quality Swiss wristwatches only started being manufactured in the early 1920s and it wasn’t until the late 1970s that collectors turned their attention from pocket watches and carriage clocks towards anything more wrist-worthy. “The introduction of quartz technology in the early 70s triggered a newfound interest in mechanical watches,” says Sam Hines, head of watches for Christie’s in New York. “In the last 30 years the collection of classic pieces, those made between 1920 and 1970, has grown exponentially, particularly against the backdrop of ﬁnancial uncertainty. At every sale we hold there is always someone there saying ‘my money’s not making anything in the bank, I’m here to buy a watch that I can enjoy and wear and

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to Invest that holds an intrinsic value that is likely to increase with age.’” While Great Masters may hang on the wall or classic cars in the garage, one of the key pleasures of a watch is the opportunity to appreciate its qualities every hour, minute and second of the day. “A vintage watch embodies style, elegance, uniqueness and character,” says Geoffroy Ader, director of watches for Sotheby’s in Geneva. “The world’s top collectors always wear their best watches, particularly to intimidate rivals in an auction environment. While the economy pitches and slumps, and the demand for Swiss watch exports ﬂuctuates, the resale value for vintage mechanical timepieces remains buoyant. The potential for upside in this market is huge. A Rolex Daytona worth £2,000 back in 1995 will today sell for £20,000.”

HOW TO COLLECT While we may all secretly wish to have been the successful anonymous bidder for the world’s most expensive watch, the Graves Supercomplication by Patek Philippe, sold for $11 million in 1999 (see The Five Most Expensive Watches Ever), this is the super-collector’s end of the market where the Pateks, Audemars Piguets, Vacheron Constantins and Rolexes regularly change hands for in excess of $1,000,000. “These four are the key manufacturers,” says Hines. “They are brands that are still around today but have a continuous history with tested philosophies and values. Then there are individual watches like the Reverso by Jaeger-LeCoultre that act as one-offs and are more popular than the brand itself. This is very deﬁnitely the exclusive end of the market. You can still buy a wonderful

While Great Masters may hang on the wall or classic cars in the garage, one of the key pleasures of a watch

is the opportunity to appreciate its qualities every hour, minute and second of the day. time-only vintage piece for less than $2,000.” One way of breaking into watch collecting is to focus on the less expensive second tier occupied by Swiss marques such as Longines and Omega, or American manufacturers such as Hamilton or Waltham. Pieces by Longines and LeCoultre from the 1950s can be found for as little as £200, while a sub-brand of Rolex may go for the same price. “Ultimately your collection should be based on what you like rather than what you think will become valuable,” says Ader. “Whether it’s sports watches, military, complicated, vintage chronographs or vintage perpetual calendars, it’s your eye that will most likely decide whether you want to buy a watch or not. Always try to focus on one area of collecting, but bear in mind

Above left: A one-off watch by Patek Philippe. A unique 18K gold perpetual calendar chronograph wristwatch with moon phases and tonneau-shaped case. Manufactured in 1943. Estimate 1,500,000-2,500,000 Swiss Francs Price realised 6,259,000 Swiss Francs / £4,793,000 Above centre: A model 1591 watch by Patek Philippe. A unique stainless steel water-resistant perpetual calendar wristwatch with indirect sweep centre seconds, phases of the moon and luminous dial. Manufactured in 1944. Estimate 800,000-1,400,000 Swiss Francs Price realised 2,513,000 Swiss Francs / £1,925,000 Above right: A model 2499 First Series by Patek Philippe. An exceptionally ﬁne and rare 18K pink gold perpetual calendar chronograph wristwatch with phases of the moon and baton numerals. Manufactured in 1957. Estimate 800,000-1,200,000 Swiss Francs Price realised 1,203,000 Swiss Francs / £921,400 By permission of CHRISTIE’S IMAGES LTD. 2011

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that complexity means greater value. Collectors today want watches with complex movements and lots of watch functions. Ultra-thin movements or those with added features such as moon phases and chronographs (timekeeping + stop watch) can mean the difference between a few hundred pounds and a few thousand.”

CONDITION AND PROVENANCE Once you have selected your brand or niche the most important consideration is condition. If the watch is in mint order and comes from an original owner this makes for a superior investment to buying an expensive watch in poor condition. “Necessity is the mother of invention,” says Hines. “Wartime took watches from the pocket to the wrist. Soldiers’ ‘trench watches’, which, though bulky, enabled them to glance at the wrist rather than fumbling around in their uniform. “Look at the case of the watch and its hallmark,” says Hines. “The deﬁnition of the hallmark tells you how much the watch has been polished. In the 90s collectors would send their watches away for a professional clean. Today, because of the knowledge the market has acquired particularly through the internet, the same collectors want watches to have all their original proportions and to be as crisp and fat as possible.”

Henry Graves Jnr was a banker and patron of Patek Philippe; James Ward Packard was an auto manufacturer who worked closely with the most exclusive watch manufacturers to create an exquisite collection of highly complicated, custom-designed timepieces. Anything owned by one or other of these will be much sought after.

“Essentially the movement, case and dial should all be unrestored and expertly overhauled in the past by craftsmen, the screw heads should be unmarked, past repairs should use only original materials and there should be an absence of marks and stains,” says Ader. “Oh, and ideally no personal engravings.” Engravings only come into play when the provenance of the watch is of particular interest. Generally speaking, a watch belonging to someone of great historical interest or import such as JFK or John Lennon will sell for ten times its standard value. Then there are the great collectors.

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LAST WORD

If you have a vintage watch that’s been offered around a number of auctions or in the words of Hines, “has been ﬂipped around in the market”, it is not going to have nearly as much desirability to collectors as an item that’s fresh from the original family. The message is clear: try to locate something that has yet to be overexposed. In addition, those with their original paperwork can command an extra 20%, 50%, or even 100% depending on the value of the watch.

Do you gravitate more towards the Art Deco style of the 20s and 30s or do you prefer the more stylised forms of the late 40s and beyond? Go online and see what catches your eye. Visit watch fares and auctions. Spend as much time as you can on research. Never rely solely on the advice of a dealer. Always try to establish a market value for yourself so you don’t pay over the odds. Consider the material the case is made from. A rectangular solid 14-carat gold case is commonplace. White gold or platinum cases are rare. Pay attention to these details as they can transform a fairly ordinary watch into something highly collectable.

“These are original certificates that cannot be traced or repurchased,” says Hines. “If, for instance, you take a Patek Philippe from the early 1940s, the original certificate will add a huge amount. One of the reasons why collectors feel so comfortable buying Pateks is that they will reissue a document that confirms the type of case, gold and dial used. It’s called an ‘extract from the archives’ and anyone

“If you are buying at auction, try to contact the department beforehand,” says Hines of Christie’s. “Ask for extra information and specialist opinion, extra images, really try to see the watch. Just make sure you are comfortable with the watch, buy what you like and most importantly purchase the very best you can afford within your budget.” m

FRESHNESS AND PAPERWORK Then there is the dial, or face. This can age, which is popular with some collectors as they feel it adds character to the watch. In the past some chose to have the dial touched up or repainted. Once again this impacts the value.

can get one from the Patek website for only 100 Swiss francs. It may not be the original document, but it goes a long way to conﬁrming the watch as genuine and complete.”

The Five Most Expensive Watches Ever (all designed by Patak Philippe)

potential

upside

The for in this market is . A Rolex Daytona worth £2,000 back in 1995 will sell for

huge

today

£20,000

Henry Graves Supercomplication (1932). Sold for $11,002,500 in 1999

Caliber 89 (1989). Sold for $5,002,500 in 2010

Possessing 24 complications including a chart of the nighttime sky over New York City and a minute repeater that plays the same melody as Big Ben. Off the market for 66 years, when it was sold by Sotheby’s it changed the market, pushing all prices skyward in its wake.

This 18-carot, white-gold piece was created to celebrate Patek Philippe’s 150th anniversary. It features 24 hands, is comprised of 1,728 components, has a world-record total of 33 functions and is recognised as the world’s most complicated watch. Platinum World Time (1939). Sold for $4,026,524 in 2002 At the time it was created it was believed to be the most expensive wristwatch in the world. The World Time system was invented in 1935 by Louis Cottier, a famous independent watchmaker from Geneva.

Model 2523 Heures Universelles (1953). Sold for $2,899,373 in 2006

Model 2499 First Series (1957). Sold for $2,280,000 in 2007

This Patek Philippe watch of 18-carot yellow gold is a World Time watch with an intricate design with polychrome cloisonné enamel dial representing a map of the United States.

The most expensive watch ever sold at Christie’s. Only ﬁve other examples of this 18-carat, rose-gold wristwatch have appeared in public.

Above left: Grande Complication by Patek Philippe An exceptional, unique and historically important 18K gold openface, two-train minute repeating grande and petite sonnerie, perpetual calendar, split seconds chronograph, keyless lever clock watch with register, age and phases of the moon. Manufactured in 1926. Estimate 800,000-1,400,000 Swiss francs Price realised 2,540,000 Swiss francs Left: Patek Philippe, The Grogan. An extremely ﬁne, unique and historically important 18K gold cushionshaped single button split seconds chronograph wristwatch with horizontally positioned register and Breguet numerals, made for a left-handed wearer. Manufactured In 1925 Estimate 800,000-1,400,000 Swiss francs Price realised 2,372,000 Swiss francs By Permission of CHRISTIE’S IMAGES LTD. 2011

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Art Market

WEATHERING

the Storm?

The outlook for the art market is positive, despite continuing concerns for the status of the global financial markets

he picture portrayed in the US & EU Contemporary Art Market Confidence Survey, published in July by the London-based consulting company ArtTactic Ltd, is one of renewed confidence in the Western art market. According to the study, the Contemporary Art Market Confidence Indicator saw a 8.3% rise in the first six months of 2011, going up to 74 from the 68 registered at the end of 2010. This marks the fifth consecutive increase since November 2008. On the other hand the survey – carried out on a sample of 130 international curators, art advisors, collectors, auction houses and dealers – epitomises the widespread concerns towards the current turmoil in the financial markets. The economic component of the ArtTactic Art Market Confidence Indicator has in fact dropped 20.8% in 2011; subsequent to the 18.1% decrease registered in the second half of 2010. Moreover the last reading of the ArtTactic Risk Indicator saw a 12.6% increase from 2010, since the majority of the respondents to the survey perceive the economic problems affecting the US and a number of European countries to be the greatest menace to the growth of the contemporary art market. According to Anders Petterson – founder and managing director of ArtTactic – the difference between the ArtTactic’s Art Market Indicators and the Economic

32 www.themarketmagazine.co.uk

Indicator may be because of the fact that art, especially high-end art, is regarded as a store of value, or simply because the art market is slow to react to financial events. This happened at the beginning of the banking crisis, when the art market only started to feel the effects of the credit crunch a few months after the collapse of Lehman Brothers. A number of studies that aim to prove, or disprove, the correlation of the art market with the general financial markets have yet to provide solid evidence for either case. However, it is commonly acknowledged that

The post-war and contemporary art market is performing at its pre-crisis level fluctuations in the financial markets reverberate with a delay of six to 12 months onto the art market. It is also accepted that different artistic sectors may react differently to the ups and downs of the financial markets. The contemporary art sector, for instance, is believed to feel more of the effects of finance than the Old Masters market, deemed to be more stable by nature.

The current positive outlook on the art market comes on the back of a number of strong seasons of auctions in both London and New York. During the latest edition of the post-war and contemporary art auctions in London, the two powerhouses, Sotheby’s and Christie’s International, totalled an imposing £215.2 million in sales (including buyer’s premium). The result is the second-highest total registered in London, with Sotheby’s breaking the £100 million barrier and reaching £103,386,300 with its contemporary art evening auction alone. Among the top lots of the contemporary art week were Francis Bacon’s Study for a Portrait and Andy Warhol’s Mao, 1973 sold at Christie’s International for £17.96 million and £6.98 million respectively; Francis Bacon’s Crouching Nude and Sigmar Polke’s Dschungel (Jungle) passed hands at Sotheby’s for £8.33 million and £5.75 million. Looking at these results it is evident that the post-war and contemporary art market is performing at its pre-crisis level, thanks to the ever-growing number of affluent buyers – both collectors and investors – from Eastern Europe, the Middle East and Asia. Sotheby’s and Christie’s International credited their record first half global earnings,

Simon Jacobsz. de Vlieger (Rotterdam 1600/1-1653 Weesp) Dutch frigates exchanging salutes in a calm, with yachts, a rowing boat, a sloop carrying personnel, and fishermen on the shore with initials ‘W.V.V. [?]’ (lower right) Oil on panel 28 1/8 x 41¾ in. (71.5 x 106.1 cm.) Estimate £400,000-£600,000 Price realised: £1,553,250 / $2,485,200 / €1,716,341 NEW WORLD AUCTION RECORD FOR THE ARTIST By Permission of CHRISTIE’S IMAGES LTD. 2011

Marcus Gheeraerts II (Bruges 1561/2-1636 London) Portrait of Frances Howard, Countess of Hertford, later Duchess of Lennox and Richmond, full-length, in a masquerade dress, with a wreath of pansies in her hair dated ‘1611’ (upper left) Oil on canvas 82¾ x 53¾ in. (210.2 x 136.7 cm.) Estimate £1,000,000-£1,500,000 Price realised: £1,721,250/$2,754,000/€1,901,981 By Permission of CHRISTIE’S IMAGES LTD. 2011

Michelangelo Buonarroti (Caprese 1475-1564 Rome) A male nude, seen from behind (recto); Studies of male nudes (verso) Black chalk, watermark crowned eagle (close to Briquet 89) 8½ x 7 in. (21.8 x 17.7 cm.) Estimate £3,000,000-£5,000,000 Price realised: £3,177,250/$5,083,600/€ 3,510,861 By Permission of CHRISTIE’S IMAGES LTD. 2011

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ArtTactic US & European Contemporary Art Market Confidence Indicator

100 90 80 70 60 50

The ArtTactic Art Market Conﬁdence Indicator was launched in May 2005 and this month acts as the base month for the indicator. Data is collected and the survey ﬁndings are made available every six months. The questions asked to compute the indicator will remain constant throughout the future of this survey. The survey is based on a sample of 130 key international collectors, curators, auction houses, dealers and art advisors. Indicator Level: < 50 (negative sentiment outweighs positive sentiment among expert sample) > 50 (positive sentiment outweighs negative sentiment among expert sample) = 50 (equal number of positive and negative responses).

40 30 20 10 -

Economic Indicator Primary Art Market Indicator Secondary Art Market Indicator

respectively $3.4 and $3.2 billion, to the growth in Asian markets, particularly to the increased demand from the Chinese market. Notwithstanding these incredible results Sotheby’s, the only publicly traded auction house, saw its shares tumble at the beginning of August. Widespread fear from the sovereign debt crisis and the downgrading of the US’s credit rating had a negative impact on the New York-based auction house, whose shares fell approximately 30% from the 2011 peak of $54-per-share registered at the beginning of April. Strong results were also achieved in the auctions of other categories of collectible art, such as Old Master Paintings. The market, traditionally the territory of a élite of connoisseurs, has seen in the last season an impressive array of high-quality paintings, some of them fresh to the market. Among the top lots of this buying spree one can certainly include George Stubbs’

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oil on canvas Gimcrack on Newmarket Heath, with a trainer, a jockey and a stable lad, which portrays Gimcrack, one of the most popular racehorses of the 18th century. The work, which was previously sold at auction in 1951 for £12,600, fetched £22.44 million at the Christie’s International’s Old Master and British Paintings evening sale in July. Other world record prices were achieved in the same auction with Thomas Gainsborough’s Portrait of Mrs. William Villebois sold for £6.54 million, Simon Jacobsz de Vlieger’s Dutch frigates exchanging salutes in a calm sold for £1.55 million and Taddeo Gaddi’s A triptych sold for £1.33 million. The top lot of the season, however, was Francesco Guardi’s Venice, a View of the Rialto Bridge, which achieved the highest hammer price so far this year and the second-highest price for an Old Master sold at auction. The painting, which went on the block at Sotheby’s Old Master and British Paintings Evening sale, passed hands for £26.69 million. In the same night, two works by

The market for Old Master Paintings, traditionally the territory of a élite of connoisseurs, has seen in the last season an impressive array of high-quality paintings, some of them fresh to the market.

Thomas Gainsborough, R.A. (Sudbury, Suffolk 1727-1788 London) Portrait of Mrs. William Villebois, full-length, in masquerade dress, with a blue gown and a lace-edged satin skirt, holding a diaphanous wrap, beside a pilaster Oil on canvas 89 x 57 7/8 in. (226 x 147 cm.) Estimate: £4,000,000-£6,000,000 Price realised: £6,537,250 / $10,459,600 / €7,223,661 NEW WORLD AUCTION RECORD FOR THE ARTIST By Permission of CHRISTIE’S IMAGES LTD. 2011

The current positive outlook on the art market comes on the back of a number of strong seasons of auctions in both London and New York

Taddeo Gaddi (Florence active mid-1320s-1366) A triptych: central panel: The Madonna and Child enthroned with Saints; wings: The Nativity with the Angel of the Annunciation; and The Cruciﬁxion with Virgin Annunciate Tempera on gold ground panel, shaped top central panel with engaged frame 17¼ x 9¼ in. (43.8 x 23.5 cm.); wings 17 x 4 5/8 in. (43.2 x 11.7 cm.) Estimate 1,200,000 - 1,800,000 British pounds Sold for: £1,329,250 / $2,126,800 / €1,468,821 NEW WORLD AUCTION RECORD FOR THE ARTIST By Permission of CHRISTIE’S IMAGES LTD. 2011

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George Stubbs, A.R.A. (Liverpool 1724-1806 London) Gimcrack on Newmarket Heath, with a trainer, a jockey and a stable lad inscribed ‘Gimcrack’ (lower centre left) Oil on canvas 40 3/16 x 76¼ in. (102 x 193.6 cm.) Estimate £20,000,000-£30,000,000 Sold for: £22,441,250 / $35,906,000 / €24,797,581 NEW WORLD AUCTION RECORD FOR THE ARTIST By Permission of CHRISTIE’S IMAGES LTD. 2011

Correggio and Hans Schäufelein have also broken the record for the artists at auction. Correggio’s oil on panel Madonna and Child with infant St. John the Baptist sold for £3.62 million, while Schäufelein’s altarpiece The dormition of the Virgin and Christ carrying the cross realised £2.73 million. After the summer break, another season of international art fairs will kick-start in September. SH Contemporary in Shanghai (8-10 September), KIAF in Seoul (22-26 September), Frieze London (13-16 October), Abu Dhabi Art (1619 November), Art Basel Miami (1-4 December) and a myriad of satellite and local art fairs, will fill the calendar until the end of the year. Art fairs have become in recent years beacons in the mare magnum of artrelated events and another tool to keep the pulse of the primary market. In order to expand their collectors’ base and acquire international status, galleries are increasingly engaging in this sort of events. Robust sales at Art Basel in June confirmed the current strength of several high-end contemporary art galleries; nevertheless some commentators believe that the constantly increasing number of art fairs may be detrimental to the health of the market. As New York dealer Dominique Lévy has recently declared to The Art Newspaper: “The proliferation of fairs is ridiculous […]. They will strangle each other in the end”.

By Alessandro Lorenzetti

36 www.themarketmagazine.co.uk

Jacques-Laurent Agasse (Geneva 1767-1849 London) Dash, a setter in a wooded landscape signed with initials ‘JL.A’ (upper right, on the tree) Oil on canvas 50 3/8 x 39¾ in. (128 x 101 cm.) Estimate £400,000-£600,000 Price realised: £825,250 / $1,320,400 / €911,910 NEW WORLD AUCTION RECORD FOR THE ARTIST By Permission of CHRISTIE’S IMAGES LTD. 2011

S tratt o n S t r e e t , london , w1 J 8lt + 4 4 (0) 2 0 7 769 404 1 the mayfai rh ot el.co.uk

Spread betting explained

Opportunities in

volatile markets

When markets are choppy, spread betters get excited. It is not without risks, but the ongoing economic uncertainty means this may be a good time to consider the fast-paced world of spread betting.

ooking at the name, you may be forgiven for thinking spread betting is something akin to gambling. This is not at all the case, and once you look past the label you will discover an investment technique that is not only efficient, but also has the potential to add a little excitement to trading. “Spread betting gives you access to global markets through a single platform,” explains Craig Inglis, product manager at CMC Markets. Spread betters can invest, or bet, on stocks from all over the world, but they can also tap into foreign exchange movements, bonds, indices, sectors and commodities, all through a single spread betting account kept in pounds sterling. Tax-free perks While the broad exposure on offer through spreadbetting is a virtual smorgasbord for investors seeking diversification, the mechanics of spreadbetting means market volatility becomes an opportunity rather than a threat. “Investors can trade on markets going down as well as up, which is particularly important in the

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current economic situation,” says David Jones, chief market strategist at IG Index, the UK’s biggest spreadbetting provider. For a spread better, it does not matter so much which way the market goes, as long as it goes the way he or she anticipated when placing the bet. For many, the number one attraction of spread betting will be its tax-free status; because you are technically betting on where a market will move you do not have to pay capital gains tax nor stamp duty, as would be the case if you were owning stocks. There is however a dealing charge baked into the ‘spread’, the difference between the buy and sell price quoted by the provider. This means the tighter the spread, the cheaper it is to trade. Controlling risk Simplicity aside, spread betting also comes with a fair amount of risk. “It is riskier than many other methods of investment, but the benefit is that you can trade really small,” says Jones. “Investors can dip their toe into markets they are interested in, such as foreign exchange, and place a small holding.”

“Spread betting gives you access to global markets through a single platform”

While investors usually need to put up a minimum of a few hundred pounds to buy a stock, spread betting providers will sometimes let you put in as little as £1. This is because spread betting lets you trade on margins, where the provider asks you to raise only about 5% of the value of the deal. This means you could put £50 on the table, but actually gain exposure to £1,000 worth of assets. Of course, you could also lose £1,000 on this bet, which is why providers are keen to recommend stop losses to prevent potentially unlimited liabilities. “The big issue is knowledge, so new investors should look for a provider that offers good educational tools,” says Inglis. The big providers offer thorough learning aids for customers, either as videos on their websites or as seminars where investors can come and ask questions. Practice accounts lets budding spread betters get used to the system before risking real money, and there is also

plenty of opportunity to learn about fundamental trading analysis, valuation methods and charting techniques. The leading providers also offer handy roundups of market movements, usually free of charge for registered users. Chasing new markets “We always recommend a complete education in the fundamentals to new investors,” says Inglis. The readily available teachings also means that an investor who has traditionally favoured British stocks can easily learn about new markets, to potentially tap into foreign profits when the home market becomes less attractive. “We are currently in a period of market volatility, so spread betting can help you take advantage of this by investing in new asset classes,” he adds.

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FINANCIAL & SPO

For many, the number one attraction of spread betting will be its tax-free status...

FINANCIAL & SPO

Green Equities are the most common 86 starting point for investors, but spread betters 33 will usually drift towards more volatile assets 38 as they get their feet under the table. 5 “The FTSE 100 is the most popular

Red betters17 place bets that run their course over a 92 single day. Sports89 spread betting While the advocates of financial spread 6 betting are usually keen to emphasise

market among our customers, closely followed by the dollar and euro exchange rates,” says Angus Campbell, head of sales at Capital Spreads. “Shares are great for long-term investments but they don’t move as dramatically as indices or currencies, meaning they don’t provide the same excitement.”

how this has nothing to do with betting, there is one branch of the spread betting family where this label is probably accurate. Sports spread betting works on the same theory as financial spread betting, but instead of betting on the movement of a stock or a bond, punters can make a call on the outcome of a sporting event.

Mobile trading The short-term nature of spread betting means it is possible to make it into a fulltime activity, but it is also very possible to combine with a busy office job. “Spread betting can be as time-intensive as you want it to be. If you don’t have time to watch it during the day you can take a longer trade, or you can input a stop loss to limit your risk,” says Jones. The main providers now have spread betting apps, which have proved increasingly popular as they let users adjust their bets throughout the day. While a bet can run over several days, Campbell says the majority of spread

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“Take football: you can bet on the number of goals, but also on a whole host of other things such as the number of the shirt of the goal-scorer, or the total of the minutes at which the goals are scored,” explains Andy MacKenzie, marketing manager at Spreadex, which offers both sports and financial spread betting from a single account. “If several goals come in towards the end of the game this number can go up quickly, so it can be quite volatile.” While fixed odds betting usually only has a few betting options available for customers, sports spread betting provides a much wider choice. You can even exit a bet before the game has ended, so if

the odds on your chosen horse start to shorten before the race, you can cash in there and then. “Instead of a fixed odds price we use an index. Because this market constantly moves, its behaviour becomes similar to a financial market,” says MacKenzie. Unique insights As with financial spread betting, punters have to fund a percentage of their bet, but with sport there are no stop losses. “Punters can limit their exposure by choosing a market [sport] where they know it can’t get too bad,” says MacKenzie, explaining how you can work out the worst case scenario, usually a score of nil, and treat that as your stop loss. As with financials, providers of sports spread betting will usually provide customers with a practice account. For sports fans who know a lot about their game, such as which players are likely to perform well at certain parts of the game, it offers a unique opportunity, says MacKenzie. “It can appear complicated at first, but if you start small and keep an eye on the downside, it can be a lot of fun.” m By Jessica Furseth

CELLENCE

ORTS SPREAD BETTING

Text SPREAD to 88008 for details* www.spreadex.com Spreadex Ltd is authorised and regulated by the Financial Services Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved.

*Texts cost standard message rate Apple, iPad, iPhone, iPod touch, and iTunes are trademarks of Apple Inc., registered in the U.S. and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.

Environment

Water, water...

everywhere? WHILE OCEANS COVER 75% OF THE EARTH’S SURFACE, JUST 2.5% OF THE WORLD’S WATER IS FRESH WATER

“LONDON IS DRIER THAN ISTANBUL, AND THE SOUTHEAST OF ENGLAND HAS LESS WATER AVAILABLE PER PERSON THAN THE SUDAN AND SYRIA.”

42 www.themarketmagazine.co.uk

t falls from the sky as monsoons or showers, is present across 75% of the earth’s surface in the form of oceans and seas, collects to flow as rivers or mountain streams, and fills fjords, creeks and reservoirs. For many of us, it appears at the turn of a tap. But because it is colourless, usually odourless, occurs naturally and is not traded like oil or gold, do we take water for granted? Water is more vital to life than any other commodity, including energy. While headlines shout about rising food and fuel prices, ever-growing populations, industrial development and pollution mean that water is arguably the most pressing issue facing the world today.

For anyone seemingly safe in the belief the issue affects only hot countries: “The UK has less available water per person than most other European countries,” non-governmental organisation Waterwise UK points out. “London is drier than Istanbul, and the southeast of England has less water available per person than the Sudan and Syria.” In addition, a map showing freshwater availability by cubic metre (m3) per person throws up a few surprises. While oceans cover 75% of the earth’s surface, just 2.5% of the world’s water is fresh water. Of that, almost three quarters is frozen in glaciers, meaning just 0.75% of the world’s water is fresh groundwater. Meanwhile, global water demand is increasing six to ten times faster than the population. The world’s agricultural sector alone requires 200 million litres of water a second… food for thought. But that still does not mean there is a global water shortage. The world has enough of this life-critical resource for its population of six billion, but it is the resource’s distribution that is the problem. According to the United Nations (UN), one fifth of the world’s population lives in areas of physical water scarcity, and a further 500 million people are approaching this situation. An additional 1.6 billion face economic water shortages, living in countries lacking the infrastructure needed to extract water from rivers and natural aquifers – permeable geological formations that hold water.

The natural distribution of water resources is only one side of the problem, as unsustainable water management, waste and pollution are huge contributory factors. These are exacerbated by extreme weather patterns – storms, hurricanes and droughts – which may be because of climate change and which can severely damage water and sanitation infrastructure. An area is assessed as ‘water stressed’ when annual water supplies drop below 1,700m3 per person. When supplies fall below 1,000m3, the area is classed as facing water scarcity. Below 500m3, and the area is facing ‘absolute water scarcity’. Almost half the world’s population could be affected by severe water stress by 2030, says the UN, if no new freshwater management policies are introduced. As an illustration, the UK has 2,465m3 of water per capita, but it is far from evenly distributed. Water stress can be a relative issue, depending on habit. But, while we wrestle with the thorny issue of whether we should, or not, be drinking those daily eight glasses of the clear stuff to maintain healthy skin, shiny hair and vitality, increasing numbers of people are struggling to obtain enough water just to stay alive. Poor policy-making and bad water management have affected water availability in some areas of the world. Saudi Arabia, for example, will probably never have to worry about ‘Peak Oil’, but ‘Peak Water’ is a real issue, owing to extensive subsidies to the agricultural sector and the severe depletion of natural, but non-renewable, water aquifers. Some energy projects, even those drawing on renewable sources, use vast amounts of water, and activities such as tourism can also place severe stress on local water supplies. A case in point is the Balkan country of Montenegro, which has experienced a boom in tourism in recent years. As the water and power infrastructure has not kept pace, a lot of the coastal towns lose all or most of

their water pressure when the holidaymakers flood in. Great news for bottled water companies, but not so good if you live on the sixth floor… The Mediterranean island of Malta draws on a huge reservoir of freshwater that sits under the island and, owing to its lower density, floats conveniently above the seawater. Malta’s tap water has long had a certain salty aftertaste but rising sea levels have seen that saline tang become altogether more apparent, plus the salt was damaging crops. Maltese authorities are now investing more in desalination systems. According to the Massachusetts-based International Desalination Association (IDA), some 300 million people in 150 countries rely on desalinated water. The technology is an energy-intensive exercise that uses fossil fuels, but the IDA says energy demand has reduced by half over the last 20 years as new processes, such as reverse osmosis, have been introduced. Thermal desalination, a process of using heat to

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remove the salt holds potential, but a lot of the solutions are difficult to monetise. For any industry thinking of investing in an area of water stress or scarcity, how their business will impact water supplies must be a consideration. Companies are increasingly required to factor water management into their development plans. “Investors need to consider the waterenergy nexus, and the potential for cascading failure because of the interdependency,” says Jacob Tompkins, Waterwise UK’s managing director. “Energy requires massive amounts of water for cooling, and pumping water also requires huge amounts of energy. In fact, pumping water round the UK accounts for 6% of the UK’s carbon emissions. “There is a real need for investment in water, for example in the UK, where so much of the infrastructure is Victorian, and in China, where there is a huge need for investment in membrane and filter technologies. There is a need to find ways to monetise what are very simple processes, but on a large scale.” As well as the water we drink, wash with and put on our crops and gardens – what hydrologists call embedded, or ‘virtual’ water – the water needed to produce the food we eat, the car we drive and the shoes, clothes and mobile phones we buy, must also be taken into consideration. Bottled water is not the way to go, if you want to invest ethically and make a profit. The practice of extracting ground water and purifying it, before putting it into a plastic bottle made from petroleum derivatives, has its own environmental impacts, not least arguably using more water in the production process than ends up in the bottle. Consumers are getting wise to this; some towns, for example in Australia, have banned bottled water in favour of public drinking fountains and filtering and carbonating systems to make tap water more palatable. Water scarcity has become an issue. As the pressure on supply goes up, the pressure of that supply is in danger of going down… quite literally. m www.waterwise.co.uk by Helen Campbell

44 www.themarketmagazine.co.uk

According to the United nAtions, one fifth of the world’s popUlAtion lives in AreAs of physicAl wAter scArcity, And A fUrther 500 million people Are ApproAching this sitUAtion.

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Working with our scientific team we will ensure that we farm in a fully sustainable manner, not only providing a stable income for investors but also helping the local economy and the local people. The United Nations Food & Agriculture Organisation has predicted that by 2030 Maize prices will have risen by 90%. Take advantage of this agricultural investment. Invest with Greenleaf Global for your future and the future of our world.

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Business

Hands When leaders talk with their

When people are passionate about what they’re saying, have you ever noticed that their gestures automatically become more animated? Their hands and arms move about, emphasising points and conveying enthusiasm….

Carol Kinsey Goman, Ph.D., is an executive coach, author and keynote speaker who addresses organisations, government, and business audiences around the world. She is the author of THE SILENT LANGUAGE OF LEADERS: How Body Language Can Help – or Hurt – How You Lead. For more information, contact Carol by telephone: 00-1-510-526-1727, email: CGoman@CKG.com, or view her websites: www.silentlanguageofleaders.com and www.ckg.com.

46 www.themarketmagazine.co.uk

ou may not have been aware of this connection before, but you would have instinctively felt it. Research shows that people who use a greater variety of gestures are viewed in a more favourable light by their audiences. Studies have found that people who communicate through active gesturing tend to be evaluated as warm, agreeable, and energetic, while those who remain still (or whose gestures seem mechanical or ‘wooden’) are seen as logical, cold, and analytic. That’s one of the reasons why gestures are so critical to a leader and why getting them right in a presentation can make a powerful connection with an audience. I’ve seen senior executives make basic mistakes. When leaders don’t use

gestures correctly (if they let their hands hang limply to the side, hide them in their pockets or clasp their hands in front of their bodies in the classic ‘fig leaf’ position), it suggests they don’t recognise the crucial issues, they have no emotional investment in the issues, or they don’t realise the impact of their non-verbal behaviour on the audience. We all form impressions about a speaker that help determine how we interpret what the speaker is saying – and the impression we get about someone’s trustworthiness is a critically important factor in effective communication. If an audience does not trust the presenter, or at least thinks that the speaker believes what he is saying, then it will be almost impossible for that speaker to get his message across.

Trust is established through congruence – that perfect alignment between what is being said and the body language that accompanies it. If a speaker’s gestures are not in full agreement with the spoken words, the audience consciously or subconsciously perceives duplicity, uncertainty or (at the very least) internal conflict. Although people may not be aware they are doing so, audience members are also evaluating a leader’s sincerity by the timing of his or her gestures. Authentic gestures begin split seconds before the words that accompany them. They will either precede the word or will be coincident with the word, but will never come after the word. To use gestures effectively, leaders need to be aware of how those movements will most likely be perceived. From The Silent Language of Leaders: How body Language Can Help – or Hurt – How you Lead, here are some common hand gestures and the messages behind them. Emblematic gestures Some gestures have an agree-upon meaning to a group and are consciously used instead of words. These are referred to as emblematic gestures, and, like the words they represent, they’re processed in the left hemisphere of the brain. We learn emblematic gestures at home, in school, and in other social environments, so they generally differ from culture to culture. So, remember that what may be effective communication in one culture can become ineffective or even offensive in another. Emblematic gestures used in the UK and US include the thumbs-up sign – which is commonly understood to mean ‘good job,’ ‘OK’ or ‘everything’s fine’ – and hand rocking – where the palm faces down and the fingers spread out and the hand rocks left and right – which means ‘so-so’ or ‘maybe’. Pacifying gestures When nervous or stressed, people pacify themselves with a variety of self-touching gestures. They rub their legs, pull at their collars, and cross their arms to hold their upper arms in a kind of ‘self-hug’.

Although people may not be aware they are doing so, audience members are evaluating a leader’s sincerity by the timing of his or her gestures.

In a presentation, any pacifying gesture (including hand-wringing, rubbing the forehead, playing with jewellery or hair, etc.) makes a leader look tentative, unprepared or insecure.

people tend to use open gestures, showing their palms and wrists and spreading their hands and arms away from their bodies, as if saying ‘See, I have nothing to hide’.

Illustrative gestures Everyone produces gestures spontaneously and unwittingly as they speak. We may seldom think of our gestures consciously, but in practice we use them with great efﬁciency and sophistication to cover a surprisingly wide range of communication.

■ Palms up – When palms are rotated straight up and ﬁngers are spread (in a prototypical pleading position), it communicates the lack of something that the speaker needs or is requesting.

Sometimes gestures are used to physically illustrate a point, as when pointing to a particular paragraph in a contract or moving your hand to the right when telling someone to turn in that direction. Other gestures are unconscious signals that give the viewer a glimpse into the speaker’s emotions, motivations or attitude. These include . . . ■ Open palms at an angle – Gestures with palms showing (tilted to a 45-degree angle) signal candor and openness. When being truthful or forthcoming,

■ Palms down – Speakers pronate their palms to signal power and certainty. This is also a controlling signal – as when trying to quiet an audience. ■ Vertical palms – Vertical palm gestures with a rigid hand are often used to demonstrate the need for precise measurement – or to beat out a rhythm that gives emphasis to certain words. ■ Clenched hands – When a speaker clutches an object tightly, grips his hands behind his back, or curls his hands into ﬁsts, it signals anger, frustration or a nonverbal way of saying, ‘I’m holding on to something and I’m not going

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■ Hidden hands – Hidden hands make you look less trustworthy. This is one of the non-verbal signals that are deeply ingrained in our subconscious. Our ancestors made survival decisions based solely on bits of visual information they picked up from one another. In our prehistory, when someone approached with hands out of view, it was a clear signal of potential danger. Although today the threat of hidden hands is more symbolic than real, our ingrained psychological discomfort remains. ■ Steepling gestures – It is common to see a speaker using a steepling gesture (palms separated slightly, fingers of both hands spread and fingertips touching) when feeling confident or comfortable about a subject she knows well. Politicians, executives, professors, and attorneys are very fond of using these gestures when they speak.

to open up to you’. Depending on the context, the clenched fist gesture can also communicate a warning that unwavering fortitude may be necessary to achieve an objective. I’ve often seen leaders use a fist to add the non-verbal equivalent of ‘with power’, ‘firm commitment’, or ‘by force’ to their message. ■ Finger pointing – Finger pointing and wagging are parental gestures of scolding, and I’ve often seen politicians and executives, in particular, use this gesture in meetings, negotiations, or interviews for emphasis or to show dominance. The problem is that rather than being a sign of authority, aggressive finger pointing suggests that the leader is losing control of the situation – and the gesture smacks of playground bullying. ■ Hands on hips – Whether in a stubborn toddler or an aggressive CEO, hands on hips is one of the most common gestures used to communicate a defiant, super-confident, or independent attitude.

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As I mentioned earlier, there is a correlation between hand and arm movement and perceived energy. So when a leader I was coaching wanted to project more enthusiasm and drive, I helped her to do so by increasing her gestures. On the other hand, I’ve worked with leaders where over-gesturing (especially when hands are raised above the shoulders) made them appear erratic, less believable and less powerful. If you are still not sure of what is the right amount of gesturing for you, remember this: Arms held at waist height, and gestures within that horizontal plane, help you – and the audience – feel centred and composed. Arms at waist and bent to a 45-degree angle (accompanied by a stance about shoulder-width wide) is also the posture I advise leaders to assume between gestures. It helps keep them grounded, energised, and focused. m

If you have any questions about body language for Carol, please email her at info@themarketmagazine.co.uk. Subject: Body Language.

IMPROVING LEADERSHIP SKILLS IN BUSINESS

"A unique and inspirational training course." Project Director, Kingfisher "Wow! What an incredible couple of days...â&#x20AC;? Business Development Manager, Babcock "Challenging but enormously motivating." Divisional Managing Director, Cable & Wireless

The Business Leadership Academy is pleased to announce a new two day leadership programme designed to improve leadership in business for directors, senior executives and managers. Courses are being run in collaboration with the Royal Naval Leadership Academy at the Royal Navy Command Headquarters in Portsmouth where great leadership has been taught for over 400 years. The size of each course is limited to 20 delegates to ensure maximum learning, participation and review. The course programme has been developed to coach rather than lecture, to challenge but not to overwhelm and to practice the art of great teamwork, communication and leadership. The course directors are Mark Grant, an international business & leadership consultant and Neil Laughton, a successful business and expedition leader. They are supported by a team of serving and ex-service Royal Navy personnel.

To enquire about a Business Leadership Academy course for your company, please contact us on 020 7096 2878 or info@businessleadershipacademy.co.uk Business Leadership Academy 123 Pall Mall, London SW1Y 5EA. Tel: 020 7096 2878 info@businessleadershipacademy.co.uk www.businessleadershipacademy.co.uk

Business

A constant

JUGGLING ACT to monitor growth opportunities A recent KPMG survey has highlighted the difficulties facing UK businesses in trying to juggle not only the fragile economic conditions, but to also ensure they are able to seize growth opportunities when the time arises.

ucceeding in a Changing World – a KPMG survey of more than 1,500 CEOs and finance directors from 22 countries in Europe and the Middle East – confirms that the fairly static economic conditions that have prevailed over the past 18 months have required managers to ensure the foundations of their business are robust enough to take advantage when the upturn comes. In the current climate, there are some basics that businesses need to get right. One is working capital requirements. Working capital reduction programmes often fail to deliver, but with proper management businesses can drive down working capital.

Disjointed financial information is a fundamental reason why businesses fail to understand their customers’ buying habits 50

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Another is exploiting the business information they possess. Many businesses have hugely valuable commercial information held in separate systems but do not efficiently use it in a joined-up approach to increase sales. Disjointed financial information is a fundamental reason why businesses fail to understand their customers’ buying habits. By piecing together disparate data, businesses can have a true insight into the drivers of working capital and then be able to manage their businesses with the aim of keeping working capital to a minimum. For those with their eye on the future, the process of raising finance is likely to take

longer than when borrowers were last accessing debt markets and so they need to be prepared for that. Liquidity remains tight, and is expected to remain so in the near term; early conversations with lenders are recommended, and robust, properly articulated and credible plans are vital to influence funders to lend. That said, there are strong growth opportunities emerging in certain sectors, some of which we are already seeing borne out, such as online retailing, healthrelated industries and some sectors of the manufacturing industry. There is no doubt that the UK economy remains fragile and a return to growth will be a protracted process. Those businesses relying solely on domestic markets have had a particularly difficult time. The government is working to engage with business and get the economy back on track, and this has been demonstrated through their willingness to develop initiatives that will help drive growth and investment for UK business. For Britain’s exporters, the picture is somewhat more positive as overseas markets provide vital opportunities for growth. At the time of the Budget, the government announced its plan for achieving growth. With wider economic issues now coming into play, many of which are outside of the UK’s control,

it remains to be seen how much of the original plan will take shape. However, the government is putting the processes in place to assist business growth. Schemes such as Britain Open for Business, which is headed up by Trade Minister Lord Green and is aimed at encouraging international trade, will be at the heart of this recovery. So too will be the localism agenda that through the Local Enterprise Partnerships, will seek to provide regions with a level of autonomy to pinpoint initiatives that will help their economies to recover and thrive. The ÂŁ1.4bn Regional Growth Fund, which provides funding for schemes and projects that can demonstrate economic growth, will be part of this. When you add to this the allocation of Enterprise Zones across the country, the foundations are beginning to be laid. However, success will only be achieved if these initiatives are implemented in a way that encourages engagement, rather than the creation of a scheme that has no, or limited application in the real world. Business has its role to play too. Being aware of the help available, as well as ensuring the foundations of their business are strong enough to then move forward will be crucial. Coping with the challenging economic conditions is not enough in todayâ&#x20AC;&#x2122;s fast-moving environment. The early identification of opportunities, together with the flexibility to respond will undoubtedly decide where the winners and losers will be. Joint ventures in growing markets, exporting and innovation are all key strategies to help business realise growth. It is now about shifting focus to ensure business is ready to take a leap into growth, rather than waiting out the economic challenges. Creating the right level of flexibility and scale must rise higher up the agenda as we move through 2011. We must all play our part in a sustained recovery. By Malcolm Edge Head of national markets at KPMG

There is no doubt that the UK economy remains fragile and a return to growth will be a protracted process www.themarketmagazine.co.uk

Law

Sort out your

Contracts & Procedures now! W

ith luck you will have had a nice break over the summer and are returning with renewed energy to run your business. If, like most of us, you worked until the early hours before leaving on holiday and failed to deal with the admin because the real work was more pressing, now is the time to tackle that job. Set a couple of days aside and get your contracts and paperwork in order. You will not regret it! There is new legislation in force this year that must not be ignored, so I thought it would be helpful to provide a ‘to do’ list to get you off to a good start.

Make a list of your contracts Assuming you are a star business owner and sign a contract with all of your customers and suppliers, do not leave the paperwork languishing in a dusty pile or even simply file them away tidily. Think of your contracts as recipes or tools for each deal that you sign. They should clearly set out who will do what and when. If they are incomprehensible or fill you with dread, then your lawyer has not done a good job. You need to record key elements of each contract, so that you do not find yourself in breach or conversely, forgoing rights that you would otherwise be entitled to. I would start a table/Excel spreadsheet with the following key details of each contract:

■ Name of the other party ■ Start date of contract ■ End date and how much notice is

needed to end it. Beware: Some

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contracts renew automatically if you do nothing. This is where your calendar tools in Outlook can be useful. Simply enter the longstop date, minus few weeks’ thinking time as a reminder. If, for example, you need to let a supplier know by 30 November 2012 whether you want to continue with him or not, enter a reminder for 1 November so that you have time to think about it. ■ Key dates/milestone dates e.g. when certain goods or services have to be provided ■ Payment terms e.g. when you may invoice, when you have to pay for things, agreed hourly rate ■ Special terms that are key, but which differ from customer to customer e.g. territory of supply, any exclusivity provisions or non-competition clauses While you are going through the contract, it is a good idea to check that it is actually dated and signed. You would be surprised at the number of contracts that are half signed, undated or still peppered with blanks that should have been ﬁlled in. Not good if you later want to rely on that contract to enforce your rights. Finally, make sure you have back-up copies of your contracts e.g. a soft copy and a hard copy or, if you want to save paper, a back-up copy of your contracts on a separate, external hard drive. These can be bought for around £50 and simply plug into your computer. Find the ‘backup’ application on your computer and run it at least once a week. Remember to test that it is actually working and alternate with other external drives in case one isn’t

working. Needless to say, keep that hard drive somewhere other than in your ofﬁce, ideally in a ﬁre proof safe on alternative premises.

Start a record of how you comply with the law There have been a number of new pieces of legislation this year that not only require businesses to comply with the new laws, but show what are they are doing to comply with them. It is vital to start a record now to show what steps you have taken should an inspector call. For instance: The Bribery Act 2010 This came into force on 1 July 2011 and catches all forms of business – from sole traders to large corporations. The Act catches the obvious offences of bribery, but the key new offence is the one that can be committed by commercial organisations failing to prevent bribery (section 7). A business will only have a defence if it can show that it had in place “adequate procedures” designed to prevent bribery. This is where your next piece of housekeeping comes in. Put those procedures in place. Set up a top level team who will scrutinise all aspects of the business, and its now neatly organised contracts, to assess possibilities of bribery. Make sure your staff anti-bribery policy

has been updated. Check out the Ministry of Justice Guidance Note, which sets out the steps you must take and make sure you document them all. See: www.justice.gov.uk/guidance/docs/ bribery-act-2010-guidance.pdf The new cookie law As mentioned in last month’s issue, if you own a website, you must get your visitors’ express consent to the use of cookies. These are small pieces of software that track the visitor’s preferences when moving around the site. As yet it is not clear how that consent will be obtained and website owners have until October 2012 to ﬁgure out the answer. Meanwhile, it would be a good idea to ask your website developer which cookies are on your site and list what they do and whether they are critical or not. Then, when more guidance comes through from the government, you will be prepared as there is likely to be a sliding scale of warnings that must be given to visitors depending on how intrusive the cookies are. See www.ico.gov.uk for more details.

canteen or a gym, the temporary worker will have the same entitlement. The law is very intricate and you will need to consult an employment lawyer if this applies to you. However, in the meantime, examine your staff list and establish who is permanent and who is temporary to see if you need to adapt/ expand your facilities, and indeed consult a lawyer. The above list is not exhaustive. However, it will set you on the right course. Next month I will follow up with more tips. So put the ‘out of ofﬁce assistant’ on, dust off your papers and get your house in order. You will sleep so much better too. m

Jo Tall is an entrepreneur who specialises in commercial and IT law. Find out more at: ■ www.offtoseemylawyer.com – if you are an entrepreneur ■ www.tradingterms.co.uk – if you are a large business

New rights for temps – the Agency Worker Regulations 2010 1 October 2011 sees the introduction of these new regulations that basically give temporary workers sent to work in your ofﬁce by an agency the same rights as your permanent staff. So, for instance, if your permanent staff have access to a

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Business

Are you in the right

environment to

SUCCEED? O

ne sunny day, so the story goes, a boy walked along the seafront and came across a fisherman mending his nets. Next to him was a large basket, and over the edge could be seen the large pink claw of a crab. “Quick,” shouted the boy, “put a lid on your basket. Your crabs are going to escape.” The fisherman chuckled. “Come and sit a while,” he said, “and watch their behaviour – for these crabs aren’t going anywhere.” The boy watched in fascination as each time one of the crabs made a bid for freedom, another would climb up and pull it back. The only way a crab could escape would be from a basket on its own, with nothing to prevent its ascent. It is a familiar tale, but the message of the story is a powerful one. Our behaviour, attitude and the company we keep has a direct impact on our own success in life. Creating an environment of success is not always comfortable – for you, or for those around you. In order to make headway in life we need to keep the company of those who will support us rather than hold us back, and not be afraid to blaze a trail by pushing ahead alone in order to succeed. It is important to make sure that your physical environment (how you live), your social environment (who you know) and your mental environment (how you

The danger of developing snooze-button mentality is that you start each day with a delay... 54

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think) are aligned with all you are aiming to accomplish. In his book, Will it Make the Boat Go Faster? Ben Hunt-Davis, the UK Olympic gold medallist and champion rower, describes a time when he discovered how critically his environment impacts his mental attitude and his approach to training. One Christmas, during a peak training period, Ben decided to spend time in Wiltshire with his parents. Olympic training doesn’t stop for holidays, and he planned to continue his fitness programme – a focused regime of ten training sessions – during the festivities. His only day ‘off’ was Christmas Day. However, Ben woke up early on Christmas morning and went for an extended run along the Wiltshire roads in the half-light. He describes everything glowing orangey-white under the street lamps. He was a man dedicated to his goal. His Boxing Day schedule began with another run. The alarm was set for an early hour but as it rang, Ben noticed the ‘snooze’ button on the clock. Instead of getting up and getting on with it, Ben gave himself a choice. Did he feel like going for a run, or did he feel like having a little lie-in? He flicked the snooze switch and dozed for a few more minutes. Some time later, and now behind schedule, he gave himself another choice: should he walk the family dog after breakfast and reschedule his rowing session for after

tea? Yes, he should, and so it continued. Ben’s best laid plans to complete ten training sessions over the Christmas period eventually turned into two runs and two indoor rowing sessions. In his home environment, creating time to train seemed difficult; he felt too comfortable; no one was pushing him. He wanted to race and he was hungry to win, but in the depths of Wiltshire, the Olympic goal felt remote.

TOP TIPS FOR CREATING AN ENVIRONMENT FOR SUCCESS n Banish the snooze button. You will only

The danger of developing snooze-button mentality is that you start each day with a delay. What you planned to do and what you actually do become two completely different things. Ben quickly recognised that he was asking himself a series of questions, rather than just getting on and taking action to achieve what he needed to do. On 2 January, Ben headed back to Henley-On-Thames (the home of rowing) and to his intensive training environment. Everywhere, other rowers were in competitive mode, raising their fitness levels and reminding him why he needed to train so hard. Ben immediately took his finger off the ‘snooze’ button. He was raring to go and got back to training at full speed. The same environmental needs apply in business too. At the Entrepreneurs’ Business Academy we see many busy business owners giving up their precious weekends to join us on our training days and workshops. They do it because they know that their future success requires spending time in a high-achieving environment, with like-minded people. Yes, they could spend a few hours watching a motivational DVD or listening to a business programme – but that is not the same as being fired up by the company of others who share an ambition to succeed. They are willing to do whatever it takes to ensure that they are not held back by anyone or anything. They want to enhance their environment to increase their chances of success. Every ambitious entrepreneur would prefer to be the crab that got away!

achieve your goals if you create a plan and keep on or ahead of schedule. n Become curious. Instead of feeling disheartened by those who have achieved more than you, or are better at what they do than you – ask them how they achieved their success. n Model successful behaviour. If you were learning a new sport you would copy the best technique. It is no different in business. n Don’t get too comfortable. Develop friendships and associations with people who challenge you – get a mentor to guide you and a coach to keep you on-track. n Ask yourself whether there are attitudes, habits or people you need to say goodbye to in order to change your mind-set and/ or environment for success. n Keep learning – invest in yourself and always ensure that you are growing and developing. n Be brave. The next level of success probably lies slightly outside your current comfort zone. BEV JAMES is CEO of The Academy Group including the Entrepreneurs’ Business Academy and EBA for Coaches, joint ventures with James Caan; and The Coaching Academy – the world largest training school for coaches. She is a millionaires’ mentor, a serial entrepreneur and author of DO IT! or DITCH IT: Turn ideas into action and make decisions that count , Virgin Books, July 2011. Will it Make the Boat Go Faster? (Ben Hunt Davis and Harriet Beveridge) is published by Matador. www.the-eba.com www.bevjames.com

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Business

Aligning

BUSINESS VALUES with the need for profit

Have you heard the one about the man who ate in a restaurant where the food and service were poor? When he asked to see the manager, he was told she was out to lunch...

here is real truth in this scenario. We have all come across business and sales people whose sole objective is to make money, rather than the money being the result of providing an excellent and necessary product or service that also adds value.

Many decisions that we make on a daily basis include a moral dimension...

On the other hand, I remember watching a film called In Good Company (not a brilliant movie, but featuring a great sales scene). Actor Dennis Quaid plays a senior advertising executive, who teaches a young upstart how to sell. When they make a really good sale, Dennis seems very pleased that the customer got a good deal. “You really believe in this, don’t you?” says the young upstart. “Of course,” replies a slightly startled Quaid. “Why else would I do it?” It is essential, when starting up a business to ensure that your personality and experience are aligned with the needs of your business; and that your business structure is aligned with the needs of your customers. There is nothing more satisfying than knowing your business will really help your

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customer or client. If it generates good will as well as profit, everyone’s interests are in alignment. The acid test for alignment of values is to consider how you feel about the way you conduct business. If you are embarrassed by, or want to blame someone else for a strategy or outcome, the motivation is likely to have been profit for its own sake. If you are able to stand up and tell people that your outcome created value in addition to profit, good business acumen is on display. Do you recall how you felt when you started your business? Does that passion still burn inside you? If it is lacking, what can you do to get it back? When you sell your service or product, how do you feel about the customer? Is your promise going to match their expectations? When was the last time you looked at your entire business from your customers’ perspective? Is that how you want them to see it?

Are your customers coming to you because they want to or they have to? What can you do to make them feel great about spending their money with you? The features of an aligned business: n You and your team have deep

knowledge of the problem you claim to be solving. n You can make money from the activity

while providing an enhanced service. n The cost structure supports your

needs – and also your clients’ needs. There is another feature. Many decisions that we make on a daily basis include a moral dimension. I once ran a company that added toy guns to its product range. These toys were very realistic and very powerful. Despite being highly profitable, we stopped stocking them. The range was just not consistent with what I wanted my business to be about.

Every small decision that we make, or encourage others to make, contributes to the creation of a culture that the business owner is ultimately responsible for. If the team receives a strong message that they should ‘win the deal at any cost’, business leaders should not be surprised when people start behaving in a particular way. I strongly believe CEOs and business founders are responsible for the moral conduct of the companies they lead. We should feel entitled to enjoy the fruits of success we may get for the risks we take, but equally we should pay the price when things go wrong under our leadership.

PERMJOT VALIA is an angel investor, having invested in more than 25 companies in the past five years. He is also a director and co-founder of Flight & Partners, a London-based fund manager. Permjot blogs at www.businessangelblog.com

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Business

Negotiate

to achieve the impossible There are two kinds of people in the world: those who negotiate and those who don’t. There are also two prices in the world: the price for those who negotiate and the price for those who don’t.

We are all born negotiators. In childhood, we learn to haggle, by stamping our feet or crying to get our needs met; as teenagers we learn to bargain... 58

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nowing how to negotiate effectively is a crucial skill for everyone in life, but for the entrepreneur at start-up stage it is about laying essential foundations for business survival. Every day, I see businesses spend far too much money on everything from stationery, to premises, to accountancy fees.

A negotiation is: ■ Any discussion that aims to achieve a mutual agreement. ■ About reaching agreement with others so that you can achieve your goals. ■ An exchange of one valuable resource for another, which involves an element of trade or bargaining – to shared advantage.

At the very moment proﬁts are lowest, costs are highest. However, it doesn’t have to be that way. A good rule of thumb is to begin by assuming that everything is negotiable – and to have planned in advance what you want to achieve. With a pound of preparation, an ounce of bravery and a pinch of competitiveness, everyone can get a better deal.

When we position ourselves in a negotiation, the perception of power depends on how we see ourselves and how the other party sees themselves. In a conﬂict situation especially, there are often three views: mine, yours and the right one. The way forward is to know what you want to achieve in advance.

We are all born negotiators. In childhood, we learn to haggle, by stamping our feet or crying to get our needs met; as teenagers we learn to bargain, ‘I’ll do the washing up, if you let me watch TV’; as adults we learn to negotiate – closing a deal to mutual beneﬁt. Our entire lives are made up of negotiations of various kinds. It is a 24/7 skill. In the world of win, win, win negotiating, the impossible becomes possible because everyone’s needs are met. It is the only positive way forward in business, in relationships, and in situations of conﬂict.

■

Ask yourself: What is my dream position: the best outcome I could hope for? ■ What is my target position: the realistic outcome? ■ What is my walk away position: the point at which the deal becomes uncommercial and unviable? ■ What is the alternative position: What is the cost if I walk away, and what is the cost of the alternative solution? Then ask yourself: What is the other person’s position? ■ What do we both really want to achieve? ■

The point at which your needs overlap with theirs is the zone of potential agreement

a deal. Summarise the terms and make sure that both sides understand what has been agreed.

In the words of Dale Carnegie: “If you help people get what they want, they will help you to get what you want.” This is the essence of win, win, win negotiating.

A win, win, win deal is always one where all parties feel they have got what they wanted – and one that is conﬁrmed in writing by a conﬁrmatory letter or contract of agreement.

Know who you are dealing with Most people use the same negotiation style every time, so preparation is the ‘magic ingredient’ that will encourage things to go your way. Ask yourself: Have I negotiated with this person before? Is he/she the decision-maker? Will they start high and then come down? Is there a time constraint? Are there cultural differences in negotiation style? Judge by appearances People buy from people; so dress appropriately and take a few minutes to build rapport. Body language is important, as is tone of voice. Control your emotions. Use your instincts – and don’t assume everyone thinks like you. Always Seek Knowledge (ASK) Don’t expect people to be fair – instead help them to be fair, by assuming you can get a better deal. Ask questions. Find out their agenda early. Remember: the other person needs to make a sale and they need to know on what terms you will buy. If you are concerned the other person might say NO to what you ask, remember they might also say YES.

Remember, your ﬁrst negotiation is always with yourself. Make sure you believe that everything and anything is negotiable – even the impossible – because it is.

DEREK ARDEN is an international keynote speaker, radio and TV personality and author of Power-NegotiatingNegotiate-Anything-Anywhere. www.derekarden.co.uk

haggle

Listen more than you talk Ensure that the person knows they are in competition. That will sharpen the price. Try phrases such as: “I can’t decide between X (the owner’s brand) and Y (a competitor’s brand). What can you do for me on the price?”, “Are you sure that is your best price?” (ask this twice.) Remember: listen is an anagram of SILENT. Be brave. Be silent. Be deadly. That is when the best offers are made. Closed questions close a deal Price is important, but it is usually the extras that influence the profitability and close the deal: service, quality, delivery, exclusivity, payment terms, and so on. Seek solutions that are mutually beneficial. Ask closed questions to close

A good rule of thumb is to begin by assuming that everything is negotiable... www.themarketmagazine.co.uk

Business

guerrilla tactics for Business Breakthroughs

In unravelling the riddle of why some businesses, teams and people are high achievers and others not, it occurs to me that the first clue lies in another arena. Consider then the parallels and similarities between business success in the modern world and the effectiveness of guerrilla warfare… By Phil Olley

n the New World Order where economic, political, sociological, and technological changes are happening ever more rapidly, businesses continue to face a testing time: a veritable jungle. For many businesses, it’s an opportunity for a revolution in the way they operate. For some, the revolution is a necessity. Why the guerrilla approach is more appropriate now than ever before

1 2 3 60 www.themarketmagazine.co.uk

If you don’t start running your business, your business will continue to run you. Most people start their business to give themselves more freedom and control. Yet so often these are the ﬁrst things to be sacriﬁced. For years the statistics have been that 96% of businesses fail within ten years. Beyond that, most are just ‘surviving’. The business world is changing faster than ever before. Increasing regulation and red tape has added

to the business quagmire. We thought technology was going to solve it, but too often it adds to it, and in many cases technology has stopped people thinking.

Current world economics are both a threat and an opportunity for any business. There is now a ‘ﬂight to quality’… a desire among certain customers and clients for top-quality, professional service. They will pay a premium for that. This is where small businesses and professional ﬁrms can capitalise. This is a huge opportunity. Yet, very few people and businesses are equipped to tap into that opportunity.

Just as in the changing business of warfare, more often than not it is an unorthodox, entrepreneurial approach that will make a breakthrough, rather than a traditional approach. And while ‘guerrilla’ literally means ‘little war’, it’s not purely small businesses that need to play the guerrilla game. Large organisations would do well to adopt

Being the company of yesterday is not going to meet the challenges of

today and tomorrow

the spirit of the entrepreneur. With the world economy as it is they need to achieve competitive results with reduced resources, and that means getting the best from their people. Being the company of yesterday is not going to meet the challenges of today and tomorrow. At every level in a business, getting to the end of the week and thinking ‘Oh my God, where did the week go?’ is no longer acceptable, and we all know it. Time to employ guerrilla tactics… The seven business guerrilla tactics tactic 1 Identify your cause and ideology. The importance of creating a compelling vision is fundamental for guerrilla armies. Guerrilla ﬁghters identify with a core ideology, a higher ideal that compels them to extraordinary feats in the most adverse conditions. tactic 2 Know the difference between ﬁghting a battle and winning the war: the guerrilla knows the importance of working strategically, but that strategy is not a straight-jacket. This is about creating breakthroughs via a series of special missions designed to advance the strategic cause. Not just business-as-usual. Small business adaptability is key. tactic 3 Play to your strengths: this means focusing on those things at which you are brilliant, in order to generate maximum value for your customers and clients. Make sure you have the best chance of success through competitive advantage. tactic 4 Get the positioning right: positioning your product/service in the mind of the right clients, and positioning you/your brand in

order to attract the right clients to pay the right price for what you are offering. tactic 5 Wage a hearts and minds campaign: because success is all about belief (mindset) and desire (heart-set). Get this right, and it reﬂects in the way you act and the way you communicate, which in turn will affect the results you achieve. The battle for the hearts and minds of our teams, our customers, suppliers and allies is on. tactic 6 Optimise the use of your primary resources: time, energy and money. In the New World Order, it’s particularly important to create leverage through combining resources at optimum levels to achieve the results you want. tactic 7 Apply Jungle FEVER: Focus, Energy, Vision, Enthusiasm and Reason to ensure everyone is equipped to create breakthroughs at every level in the team. Success comes from individuals being resourceful, maximising performance, and being accountable for results. Being result-aholics, rather than workaholics, means everyone contributing to the cause. When faced with dense jungle, monsoons, disease, and difﬁcult communication infrastructure, the regular army struggles. But the guerrilla army thrives. In fact, these adverse conditions create the opportunity. In our new business world order, what opportunities are you missing by failing to embrace guerrilla tactics? m

Phil Olley is a former Naval Officer and is a leading expert/speaker on Business FOCUS, peak performance and business breakthrough strategies. He is founder and broadcaster of The FOCUS Gym and author of Counting Chickens

– The ‘NEXUS’ principles for personal and professional development. www.PhilOlley.com

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Employment

LinkedIn The new recruitment 3.0? Social media has changed the way we engage with each other. At the touch of a button we can make a connection or become a fan of the latest craze – day or night, 365 days of the year. And with Google+ already making a big impact – despite being an invite-only application at present – it is inevitable that much of your day will soon be occupied by online activity.

his is a debate that has recently shaken up the recruitment industry – forcing it through yet another transformation. This new way to engage with communities has made employers sit up and take notice of social media’s presence, resulting in a new interactive tool to complement their hiring strategies. As a job seeker, this means social networking sites are ripe with potential job opportunities and scope to communicate with companies.

The focus of recruitment activity has gone online – but further than that – it has gone social. 62 www.themarketmagazine.co.uk

Gone are the days when you would have uploaded your CV to a job board, sat down for a chat with a recruitment consultant or even hand delivered your résumé. The focus of recruitment activity has gone online – but further than that – it has gone social. Old recruitment is out; recruitment 3.0 is in. And who better to help you start your social media recruitment search than LinkedIn. If you’re not already aware, LinkedIn is the world’s largest professional network on the internet. With more than 100 million members across the world, it offers a powerful tool to connect with

like-minded professionals, network, and search for jobs. To capitalise on what it offers, your first step should be setting up a profile. Structured in a way not too dissimilar from a CV, the profile function allows users to put in their experience, education, links to blogs and websites and implement functions such as company presentations. But there’s no point in dabbling – fill in every section to give a viewer a broader picture of your skill set. Tip: Ensure your profile is keyword-rich. If you’re seeking a role in sales, use other synonyms, such as business development or account management, to ensure it can be found in searches. Next, the groups tab. At the time of writing, the directory was approaching 1,000,000 groups – each with active threads, jobs tabs and portals to make new connections. That’s a lot of unlocked potential for your job search. Because it is so simple to create a group, finding ones to join that suit your interests and job search should be straightforward. For example, if you are an entrepreneur seeking a new position, visit groups with

Who better to help you start your social media recruitment search than LinkedIn...

like-minded individuals, such as Business Owner. Or, if you would rather try a more generic group with jobs and the chance to debate with recruitment professionals, visit Webrecruit Transforming Recruitment Online. Play with keywords and you will find the right groups for you. Don’t be put off by the size of the group. The more members there are, the more potential contacts there may be waiting for your contribution. Tip: When requesting to join a group, check your email preferences (found in the settings part of your profile). Depending on the group, you may be on the receiving end of frequent digest emails that may be too much to look through, so adjust your settings accordingly. Follow companies Latest figures show more than two million companies have LinkedIn Company Pages – so finding the company you’ve always wanted to work for should be quite easy. On the page, you will find information about their employees, services and products, not to mention any recent activity. Any status updates will appear within the feed on your home page, therefore keep an eye out for projects

they could be working on, where you can offer your expertise. Tip: Once you start following the company, look at the employees to identify recruitment or HR points of contact, and request to connect to find out if they are recruiting – but do so professionally. You can also use the employee functionality to see if you are connected to any of the staff. As you become more comfortable, exploit the unique features LinkedIn offers. One of which is the ‘Who’s Viewed My Profile’ on your profile. Clicking through will show you who has been looking at your details, and if they’re of interest – why not contact them to see if you can offer further insight into your skills? Tip: The current basic account only lets you view the last five visitors. If you upgrade to ‘Premier account status’, in addition to a host of features, you will be able to see more visitors. While LinkedIn offers many features, perhaps its most important – and the cornerstone of its success – is the ability to connect. Connections are listed as first, second or third tier – depending on who you know. Invite colleagues and friends,

acquaintances or business contacts to connect, and you’ll quickly see just how powerful the connections functionality is. Many people are still not leveraging their professional network as well as they could. The key to capitalising on it is second-tier connections. Think of these users as potential gateways into businesses, or online communities. Accessing them is simple, you just need to ask your first-tier connections to introduce you. Contact them directly and you will run the risk of alienating them, ask a connection to introduce you and it will seem much more personal and non-intrusive. According to LinkedIn, as of January 2011, LinkedIn counts executives from all 2010 Fortune 500 companies as members. Richard Branson, James Caan – even Barack Obama – are all on LinkedIn. As you’ve seen, it is widely used by businesses of all sizes, and people from all backgrounds, including those responsible for hiring! So get your head around how to connect with people, and you’ll be much closer to influential contacts than you think. m By Lucy Heskins www.webrecruit.co.uk

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wealth that is created. Blair may have focused on the former; Brown’s true colours became apparent with the latter. Is it possible to believe in free markets and also an active role of government redistributing wealth? I would argue that these are mutually exclusive positions.

Julie meyer

asks if government is able to encourage the markets?

was recently invited to a lunch where one of the major names of New Labour, a leading entrepreneur who hosted the lunch, and several business people, including myself, discussed the political and economic outlook. The host suggested at one point that the New Labour project had failed. Indeed, the current turmoil of the Labour Party and its leader might cause one to come to that conclusion.

Is It possIble to belIeve In free markets and also an actIve role of government redIstrIbutIng wealth? The reality is much more insidious. New Labour was deeply successful. Its legacy will be that it has moved the mind of the average British person from centre-right to centre-left. The central thesis of New Labour is that government can encourage the markets and then play Robin Hood with the

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Those of us who believe in free markets believe that individuals are responsible for their fellow man and for their personal destiny. We believe in human ingenuity, in the exercise of our intellects towards greatness and excellence, in the triumphs resulting from hard work, in generosity and rebirth. No one is ever down and out forever, and the commitment is to creating a ‘bigger pie’ where more people enjoy prosperity. Sadly, we have to accept that it seems there are some real bastards in the world. There are those who leverage the wide-open practice of capitalism in the free markets solely for their own end and couldn’t care less about whether people around them survive, thrive or die. Fortunately, I believe that this is a small percentage of humankind, and that most people most of the time want what’s best for the greatest good. Still, I reluctantly accept that these ‘zero sum’ people exist and are often deeply envied in our society rather than pitied for the bankruptcy of their spirits. I know that the more I try to tie the bastards down, the better they’ll get at their ‘win/ lose’ approach to life. Amoral wealthy people stay that way… No government will be able to re-engineer them for goodness. They use tax havens, lawyers and power to avoid compliance with governments who would rein them in. Whereas New Labour argued that there should be fair rules, every sensible adult knows in their gut that life is inherently unfair. We can’t engineer fairness. Surely the right definition of fairness is that you get out of life what you put into it. We all start where we do, some of us the daughters of tycoons, others of us the daughters of beggars. I personally think that inside every poor person, there is a middle-class person trying to

get out. They often do ‘get out’ through education, family support, good role models, their faith, enormous hard work and sacriﬁce. I have never met anyone who has told me the story of their life and claimed that some government programme helped them achieve a middle-class lifestyle. Equally, I’ve never heard any entrepreneur attribute their success to the hand of government. By telling citizens through 13 years of New Labour that all will be well, ‘we the government will take the bad people away, and redistribute their wealth that they must have gotten through evil means’. I think New Labour sent the UK back to a childhood state. They impoverished our thinking, and weakened the spirit of the average British citizen. They created a new feudal state of the mind, which will be their legacy and which will take years to undo. It is an irresponsible parent indeed who puts the family in debt, so that the children have to pay more for a good life than they did. It is an act of active manipulation of the citizenry to not be transparent about the levels of spending and the outcomes of maxing out the credit cards.

themselves and their fellow man and want to rig the system against the bastards. You can’t outsource social justice to the government. It happens in your neighbourhood, your school, your church, your family and your ofﬁce.

I’VE NEVER HEARD ANY ENTREPRENEUR ATTRIBUTE THEIR SUCCESS TO THE HAND OF GOVERNMENT We will unfortunately always have the bastards with us. They are part of the human condition much as we’d like them not to be. But I think the average man does want to be responsible and care about more than himself. And I believe that he shouldn’t have been condescended to by New Labour. His children will learn the hard way that there is no free lunch, only free markets. m

Julie Meyer Chief Executive, Ariadne Capital Ltd One of INSEAD’s Top 50 Who Changed the World, and a World Economic Forum Global Leader for Tomorrow, Julie Meyer is one of

In my opinion, New Labour could have saved for a rainy day from 1997 to 2007 but instead they invested in public services that we couldn’t afford if we were going to run a balanced budget. As a result, we were well and truly unprepared when disaster hit.

the leading champions for entrepreneurship in Europe. With more than 20 years’ investment and advisory experience helping start-up businesses, she is the well-known founder and CEO of Ariadne Capital, Managing Partner of the Ariadne Capital Entrepreneurs (ACE) Fund, founder of Entrepreneur Country, co-founder of First Tuesday and a dragon on BBC’s Online

Now, the kids will grow up all right. But it will be a searing and harsh arrival into adulthood. I’m optimistic that the average 20-year old as he/she approaches 30 will learn the right lessons from the dark years of 1997 to 2010: that there was an inherent inconsistency in New Labour.

Dragons’ Den.

Free markets have lifted a billion people out of poverty over the past 25 years and they have the ability to continue to do so. As people become wealthier, they can in turn solve more social problems. You cannot believe that people are responsible for the well-being of

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Tech and

gadget

Slim...

Capture…

Sony releases two new Cyber-shot cameras this September – the TX55 and WX30 (featured opposite). Here, the super-slim TX55 – billed as the world’s thinnest camera that captures full HD 1080i AVCHD video as well as 16.2-megapixel still images – has a depth of just 12.2mm. Despite its tiny proportions, it also shoots super-detailed panoramas with 42.9-megapixel resolution, 3D Sweep Panorama and 3D Still Image to enjoy on your 3D TV. The camera’s back panel is dominated by a super-size 8.3cm/3.3-inch Xtra Fine OLED wide touch-screen. The TX55 comes in four colours: black, silver, violet and red. No price details yet, but they should be available by the time you read this. www.sony.co.uk.

Fold…

Our pick of the latest innovations for work, home or play

The new WX30 is the first Cyber-shot WXseries model to feature a 7.5cm (3-inch) Xtra Fine LCD wide touch-screen. As with the new TX55 featured, the WX30 offers a tempting range of imaging options for stills, full HD video and 3D shooting. It includes a highly sensitive Exmor R CMOS sensor with 16.2 effective megapixel resolution. Along with the TX55, the super-compact WX30 debuts Picture Effect, which offers a range of in-camera image treatments with no editing software required. In stores from September. www.sony.co.uk.

We’ve included Blue Marmalade’s ‘Crease’ magazine holder among these pages for one simple reason: its eco-friendly credentials. Made from a single sheet of plastic, it not only folds away for storage, but its single material construction also means it’s easy to recycle. Available in a range of red, black and white colour options, the beautifully designed piece retails for £32 at www.designmyworld.net. © Blue Marmalade Ltd

66 www.themarketmagazine.co.uk

Boom……

Shower…

Wharfedale is introducing a new range of loudspeakers at a price level above its current Diamond 10 Series. The Jade Series will be released in August in a choice of three real-wood veneers: black oak, vintage cherry and piano black. Award-winning designer Peter Comeau, who is director of acoustic design for IAG (Wharfedale’s parent company), says the goal is to allow the listener to become involved in the musical performance by immersion in the “full emotion and passion” engendered by the original musicians. “We call this the Wharfedale experience,” he said. Prices range from £599.95 per pair, up to £2,699.95. www.wharfedale.co.uk.

We love Sony’s latest incarnation of its water-resistant, wire-free, washable Walkman from its W series of MP3 players. It is 25% lighter than its predecessor with an even better fit, and the new NWZ-W260 model is perfect for the gym or running outdoors (you can even keep it on during your post-workout shower). A quick three-minute charge provides enough power for a 60-minute workout, while a full charge will give you up to eight hours of uninterrupted listening. Plus, ZAPPIN technology enables you to browse through your music quickly, previewing each track without fiddly searches through menus or playlists. Available from the end of August. See www.sony.co.uk for price details.

Stash…

Party…

Looking for somewhere to stash the cash? How about one of these golden money banks? Inspired by the Aesop fable The goose that laid the golden eggs, they might not be the real thing, but they’re arguably a stylish option for storing all your loose change. Available in two sizes: 9cm (£10) or 12.5cm (£16.25) at www.dutchbydesign.com.

British hi-fi manufacturer Arcam has released its award-winning rCube speaker-system in a crisp white. The wire-free device allows you to stream music from your iPhone, iPod or iPad. Alternatively, you can listen to whatever is playing on your computer from up to 100 metres away. Size-wise it’s smaller than a football, so highly portable with up to eight hours of rechargeable battery power, and a super-sleek design. Simple to use – it can be operated from your iPhone or the pocket-sized remote control. Available from John Lewis, Selfridges, Harrods and more than 200 UK outlets. RRP: £500. www.arcam.co.uk.

Please send all new product releases and high-resolution imagery to Michele Martensen. Email: info@themarketmagazine.co.uk

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INVESTMENTS

BUSINESS

ENTREPRENEURS

FINANCE

ENVIRoNMENT

TECHNoLoGY

INVESTMENT

IS SILVER THE NEW GoLD?

THE BRIBERY ACT

THE END oF CoRPoRATE CoRRUPTIoN?

MARIELLA FoSTRUP oN GENDER EqUALITY THE FUTURE

oF NUCLEAR ENERGY

Jay Z made his fortune

INVESTMENTS

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The new inspiration for business, investment and culture

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WIN

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But are they an ethical investment?

Learn to

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From the Entrepreneurs Business Academy!

the Stock Market…

Secret Millionaire

Gill Fielding

The Banks

"Wealth is not an amount of money – it is a state of mind"

Will they regain our trust ?

The secret of his success - The Den - Philanthropy - Pakistan CAREER

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THE MAN WHO

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Fashion

Make your mark From exotic blooms and tribal motifs to spots and checks, get creative with this season’s trend for prints and patterns

Inspired by nature

House of Fraser

Floral patterns of all shapes and sizes feature heavily in this trend, either in soft watercolour hues or as striking silhouettes. And then there are the animal prints – snake skin, leopard spots, zebra stripes – you name it. The key to this look is to embrace all of these clashing colours and shapes.

Reiss

Hobbs

Iva casual jacket £189 Tux shirt £125 Odilia casual trousers £120 Spritz shoes £159 www.reissonline.com

Jessica dress £89 www.hobbs.co.uk

Alice by Temperley Scarf £145 www.my-wardrobe.com

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Lilac ﬂoral print blouse £75 Pied a Terre Grey herringbone tweed skirt £70 Linea Tan ‘Foxy’ box bag £30 Therapy www.houseoffraser.co.uk

Anya Hindmarch

Newspapers and magazines shopper £90 www.my-wardrobe.com

Elegance Bronze and black dress £279 www.elegance.co.uk

Element of design

L.K. Bennett

Motifs were big and bold on the autumn/winter 20112012 catwalks, and they were often tribal or oriental in feel. We just love this zingy creation from Italian brand Etro. Simpler stripes, polka dots (such as those by Stella McCartney) and swirls were also abundant and are an easier way to get into the trend.

Bennett shoe £185 www.lkbennett.com

Etro Top £320 Trousers £505 www.etro.it

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Print works

From the understated paisley designs at Etro to Vivienne Westwood’s eccentric eagle motif, when worn with a plain pair of trousers, pattern is a fantastic way to liven up an outﬁt. For a subtle nod to the trend, you can’t go wrong with an iconic Alexander McQueen scarf or quirky Paul Smith bag.

Vivienne Westwood

Top £340 Trousers £317 Twisted Cambridge shoe £324 www.viviennewestwood.co.uk

Burning skull scarf £185 www.matchesfashion.com

Paul Smith

Mini Las Vegas ﬂight bag £215 www.selfridges.com

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Etro Jacket £810 Shirt £320 www.etro.it

Alexander McQueen

Austin Reed

Lime satin blue spot tie £49 www.austinreed.co.uk

Jonathan Saunders Intarsia cardigan £390 www.matchesfashion.com

Boss Green Blue graphic wool jumper £199 Red cotton trousers £115 www.hugoboss.com

Geometry lesson

If paisley swirls and ﬂorals aren’t really for you, then squares, triangles and spots are a more masculine interpretation of this look and are easy to adapt into everyday wear. Colours should be bold and bright (think primary colours of red, blue and yellow) and if they clash – all the better!

Jaeger Check menswear shirt £35 Soft cotton trousers £50 www.jaeger.co.uk

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Investment

Fine Wine a Vintage Investment T

“Over time, there has been such an improvement in winemaking worldwide, the trade has professionalised and there has been greater interest from BRIC markets, particularly China” 74

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hirty years ago this summer, the privately owned fine wine merchant Goedhuis & Co was founded by charismatic business leader Johnny Goedhuis. It has been going from strength to strength since 1981. The company has offices in London, the regions and Hong Kong, the latter of which was opened in 2008 by MD Thomas Stopford Sackville to service the growing market for fine wine in China. Goedhuis & Co can also boast a reported annual turnover of £22m last financial year, with development (particularly for the last 20 years) being led by the success of En Primeur vintages. Chairman and founder Johnny Goedhuis has been at the helm of the company through the thick and thin of our rocky economic history of the past 30 years. Throughout he has seen the strength of wine as an alternative investment prosper and flourish. Here we quiz him on the ins and outs of being a fine wine merchant and the future of wine as a popular alternative investment asset... What led you into the wine industry? My father was a Claret man – five in particular, Gruaud Larose, Talbot, Lynch Bages, Palmer, and Siran – and the only white wine he drank that I can remember was Pouilly Fumé Ladoucette. But he wasn’t perfect – Mateus Rosé played a part in his wine drinking and was

regularly served on Sundays! Trying to choose a favourite wine out of the above would not be difficult, it has to be Palmer 1961. Sadly I don’t often get to drink 1961s now. How has the industry changed, in particular the investment market, from when you started to now? 1970 was the first significant En Primeur vintage I was aware of, however it was still all about laying down for drinking rather than selling on. Investing was to fund and increase your cellar rather than pure speculation. Over time, there has been such an improvement in winemaking worldwide, the trade has professionalised and there has been greater interest from BRIC (Brazil, Russia, India and China) markets, particularly China. With the advent of the web and email as major sales tools, wine eventually emerged as an important alternative investment. Wine critics too, have driven the inflation of the market – a top score given by the hugely influential (and occasionally controversial) Robert Parker can result in a wine’s value soaring. Such was the investment activity in the 1990s that Liv-ex (the London International Vintners Exchange) was founded in 1999, providing a market place where wine merchants are able to trade wine. The Liv-ex index shows the

LaďŹ te has durable appeal to investors

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“You must look to invest in wines to the value of £500 and above – below that price point the storage cost of around £10-15 a year will impact your return on investment.” dominance of Bordeaux in the market; the 2010 index comprised of 95% Red Bordeaux, and a mere 0.9% White Bordeaux, 1.7% Red Burgundy, 2% Champagne, 0.3% Italian Wine and 0.1% Rhone. Which wines in particular have demonstrated a durable appeal to investors? Lafite has proved to be the absolutely outstanding wine for investment and is ahead of the pack. There is just a slight indication that this may be changing and that Lafite prices have stalled as some of the other First Growths begin to close the gap. The 1855 Classification is incredibly important to the growing Eastern market – a lot of Chinese buying is visual so the presence of the classification on the label is very important. There is a move in the investment market from 1st Growths to 2nd Growths and a number of other top Clarets. Our own view is that most of the investment market is concentrated on the wines from the Left Bank – too many of the wines from the Right Bank are overpriced En Primeur and have not produced the returns of their sister Châteaux across the river. Which wines would you suggest to drink now? I particularly enjoy Pinot Noir (from Serafin, Voillot, Arlot, Nicky Potel and

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Goedhuis recommends Pinot Noir as a current favourite

Tollot-Beaut, with Rousseau, Ponsot and Clos des Lambrays for high days and holidays), but white wine also plays a large part in my life. My cellar is full of Jean-Marc Boillot’s Montagny, Jean-Philippe Fichet’s Bourgogne and Meursault and Rieslings from Helmut Dönnhoff. My problem is that I have not been able to persuade my friends of the merits of Riesling, so I end up drinking the bottle myself. Thank goodness the alcohol level is relatively low. Is there potential for investment outside the classic French regions? I am still sceptical about the investment potential of wines from the New World. I haven’t analysed the ﬁgures on how Grange, Dominus, Opus One, Harlan or Screaming Eagle have performed so I may well be wrong, but for anybody thinking about investment they should primarily concentrate their buying on Bordeaux with a little bit of Burgundy. Of course, a number of Italian wines have increased substantially in price – Gaja, Sassicaia, Tignanello – and Vega Sicilia in Spain, but these are the exceptions that prove the rule. What tips and predictions can you give for this market in the near future? Is this another tulip bubble? Although the enormous rise in prices over the past ﬁve years is unlikely to be

repeated, we are still predicting that wine prices will increase. This is for the simple reason that demand is outstripping supply. The amount of wine produced by the Bordeaux Châteaux and Burgundy Domaines that are investment quality cannot be increased. In fact, the reverse has happened as Châteaux and Domaines reduce their yields in search of ever-higher quality. It is an extraordinary thought that Château Latour made 27,000 cases in 1982 and only 9,500 in 2010. The question is, will the 2010 be as good as the extraordinary 1982? As this will not be drinkable for many years I leave this to Thomas Stopford Sackville to decide! How can potential investors get into the wine market? Make sure you have a good relationship with your wine merchant. You must look to invest in wines to the value of £500 and above – below that price point the storage cost of around £10-15 a year will impact your return on investment. You should discuss whether you want to make a one-off investment or a continuing investment. Another option to consider is pooling your resources with friends or colleagues to hit the necessary price point. At Goedhuis we are still wine merchants rather than investment managers and the intrinsic quality of the wine is still of vital importance. David Roberts MW, our buying director, only buys wines that meet his exacting standards. We have a unique and tax efﬁcient way of organising your portfolio called the Goedhuis Cellar Plan, run as a Wine Fund, but the client actually owns the wine rather than a share in the fund.

Wines from Bordeaux currently dominate the 2010 Liv-Ex index

How should they look after their cellar? It is of vital importance for your wine to be stored in the best possible conditions, which are currently provided by Octavian Corsham, although there are a number of other extremely well-maintained bonded warehouses. An alternative, which provides a high level of personal service, is our sister company Private Reserves, which I set up with my wife Laura in 1988. m

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Wine

WorldWine Cup The pressure is on the All Blacks to win the Rugby World Cup this year on home turf. New Zealand’s four million population will increase as visiting fans fly in to see their teams take on the rest of the world. The Kiwis punch above their weight in the rugby world but the country’s wine industry is also making a splash.

t’s New Zealand’s turn to be in the limelight, as the Rugby World Cup kicks off on 9 September. The tournament will be broadcast in more than 200 countries over six weeks, with an estimated audience of four billion viewers. Talk of the tournament has filled Kiwi newspapers for the past two years and, if the All Blacks don’t win, heads will fall. Rugby success has helped put this faraway country on the map: it is ranked number one in the world, and in more than 100 years only five of the top 20 ranked test rugby nations have ever beaten New Zealand.

Unless you’ve been locked away in a dark room for the past few years, chances are you’ve tried

New Zealand Sauvignon Blanc.

It’s everywhere. It represents 82% of the country’s total wine exports... 78 www.themarketmagazine.co.uk

In addition to rugby, the Kiwis are well known for their lamb, Lord of the Rings films, and bands such as Crowded House. And you can now add wine to that list. In the past 40 years, the New Zealand wine scene has dramatically changed for the better: fortified wines and the white variety better known for making Liebfraumilch, Muller Thurgau, were the wines of choice for the local market in the early 1970s, and exports were virtually non-existent. Today, New Zealand Sauvignon Blanc and Pinot Noir fill the wine shelves from Bristol to Beijing. Unless you’ve been locked away in a dark

room for the past few years, chances are you’ve tried New Zealand Sauvignon Blanc. It’s everywhere. It represents 82% of the country’s total wine exports and since 2008, it’s been much more affordable thanks to a glut of grapes. Nevertheless, New Zealand wine still manages to achieve the highest price per bottle in the UK at £6.07 compared with an average price per bottle of £4.67 (Nielsen, MAT to June 2011). What is it we love about it and why are we prepared to pay more? Well, it’s certainly not shy nor retiring. Its exuberant flavours jump out of the glass and bop you between the eyes: think passionfruit, tinned peas and gooseberries. It’s also easy to drink: the majority have no oak and are mouthwateringly fresh. However, with such a big personality, one glass is often enough, and some producers realise less might be more. Wineries such as Clos Henri and Te Whare Ra are now making more restrained, delicate wines that are more than one-glass wonders. But New Zealand’s not just about Sauvignon Blanc. It’s also made a splash with the red variety, Pinot Noir. It’s the second most-planted variety and is made in a variety of styles from cheap fruit bombs to elegant, world-class reds.

The cooler climes of the south island make regions such as Marlborough ideal for producing Riesling

Sipa Press / Rex Features

Hawkeâ&#x20AC;&#x2122;s Bay on the North Island is known for its Bordeaux blends

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The Kiwis have taken on Bordeaux wines in several blind tastings and, on occasions, have

outperformed their French rivals, receiving higher marks than wines

ten times more expensive

Pinot is considered the holy grail of varieties: it’s fickle about where it grows, rots easily, and doesn’t like having many bunches per vine, so that’s why it tends to be expensive. However, Kiwi Pinot is certainly more affordable and easier to understand than Burgundy. The two top Pinot regions in New Zealand are Central Otago and Martinborough. If you like your Pinot Noirs deeply coloured and powerful, with lots of black fruit aromas, Central Otago is your best bet. Martinborough, just an hour’s drive from the country’s capital, Wellington, offers more femininity and elegance. Rugby men might think Pinot Noir is too light and delicate, favouring a more ballsy red. The north island’s Hawke’s Bay region and Waiheke Island are gaining a reputation for their Bordeaux blends and Syrahs. The Kiwis have taken on Bordeaux wines in several blind tastings and, on occasions, have outperformed their French rivals, receiving higher marks than wines ten times more expensive. In particular, look out for wines from the Gimblett Gravels, an 800-hectare piece of land, which was, until recently, a barren wasteland hosting a drag strip, firing range and city refuse dump; it now makes some of the country’s finest reds, and land prices have soared. While New Zealand’s Bordeaux blends are clearly attracting fans, its Syrahs are more exciting: they’re unique and are reminiscent of blackberries, parma violets and freshly ground pepper. International wine critics can’t get enough of the stuff, yet it hasn’t translated into sales for some unknown reason. At the last count, just 155,000

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litres of Syrah was exported annually compared with 91 million litres of Sauvignon Blanc. If you’re getting bored of Sauvignon Blanc, you are forgiven. But what do you drink now? Well, New Zealand does other whites too. Pinot Gris (aka Grigio in Italy) is popular but bland. If it were a colour, it would be beige. It sells well but that’s mainly because it doesn’t offend anyone. Riesling and Gewurztraminer are known as aromatic whites, meaning they have a powerful smell and ﬂavour. But Riesling isn’t an easy sell, burdened by a hangover from the bad old days of Blue Nun. However, ask any sommelier or wine merchant what their favourite white grape is, and there’s a high chance the answer will be Riesling. It’s pure, fresh and clean but can be anywhere from bone dry to sweet, which can sometimes be confusing. Most Kiwi Rieslings are dry to medium dry but have lots of natural acid to cleanse your palate. The best come from the cooler climes of the south island, which is better suited to the grape. Waipara, an hour north of Christchurch, Marlborough and Central Otago are all producing some crackers that outclass most Sauvignon Blancs. There will inevitably be many World Cup-related wine promotions this month with which to celebrate or commiserate England’s results. No doubt the supermarkets will be piling discounted Marlborough Sauvignon Blanc as high as they dare, but look beyond the on-shelf Savalanche, and you might discover that New Zealand has a host of wines that will win you over. It’s worth a try. m By Rebecca Gibb

Waiheke Island, top and below, is gaining a reputation for its Bordeaux blends and Syrahs

TASTING RECOMMENDATIONS Waipara Springs Riesling, Waipara 2009 A juicy little number with bags of orange zest, white peach and cinnamon spice characters on the nose. It has delicious texture, mouth-watering acidity and at this price, it’s a steal. £10.49, Great Grog, Noel Young Wines, Halifax Wine Co Delta Sauvignon Blanc, Marlborough 2010 This Sauvignon stands out from the crowd for its salty texture. It’s got the grassy, gooseberry and citrus Sauvignon aromas going on but it doesn’t make you shout ‘whoa get back’ after one sniff. It’s dry, linear and has just the right amount of acid to keep your mouth watering. £12.99, Cooden Cellars, Noel Young Wines, Villeneuve, NZ House of Wine, Slurp Ostler Caroline’s Pinot Noir, Waitaki 2008 Ostler’s 2008 Caroline Pinot Noir is one of the most feminine and ethereal Pinot Noirs in New Zealand. Elegant and pure with damsons and cherries on the nose, it is seamless and delicate. £29.99, Berry Bros, Taurus Wines

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Art class

From

Constable to Tracey Emin There is currently a lot of British art on display at exhibitions around the country. If you are looking to invest and build a collection, visit the exhibitions to see the work and get a real feel for the artist before parting with your money. Not only are you looking for a potential investment, you are also looking for something you can love and live with. Here are some suggestions:

John Constable Salisbury Cathedral from The Bishopâ&#x20AC;&#x2122;s Grounds 1823 (oil on canvas) ÂŠV&A Images/Victoria and Albert Museum, London

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Wim Heldens Distracted © Wim Heldens 1st Prize BP Portrait Award 2011

Louis Smith Holly © Louis Smith 2nd Prize BP Portrait Award 2011

Helen Masacz Boris Johnson Oil on board, 43cm x 40cm www.gofigurative.com

he Constable and Salisbury exhibition provides a once-in-alife-time opportunity to see the artist’s work, and then walk straight to the exact spot they were actually painted. The Salisbury landscape, complete with Salisbury Cathedral, hasn’t changed in 200 years, providing viewers with a totally new understanding and further appreciation of his artwork that can aid decisions about whether or not to collect and invest in his portfolio. If you’re looking to make a big investment, you’ll want a ‘six-footer’ piece. Take a look at Salisbury Cathedral from the Meadows, 1831, do you have office space big enough to hang it? The bigger the better. The painting’s scale is able to swallow up Constable’s stiffness and stuffiness, because of his technique known as ‘Constable Snow’ (his use of white paint, blobbed on to capture the highlights). Make sure it has provenance. Look at auctioneers www.christies.com, for example. Scene on the Downs, near Brighton, with inscription ‘J.Constable RA’ (on the reverse), oil on light card, 4½ x 6¼ in. (11.5 x 15.9 cm), realised £409,250, including buyer’s premium. Much cheaper, his pencil drawings, full of energy and freedom are worth collecting. As are his small oil and watercolour sketches. You’ll be lucky to find a good Constable etching; he didn’t much use the medium. If you are after a Constable, do go for a landscape instead of his portraits, in my opinion they’re not that good. Portraiture: If you want to invest in an outstanding portrait by a contemporary, ground-breaking artist, the BP Portrait Award 2011 is the most prestigious competition in the world, promoting the very best artists. I admire the superreal Neo-Photorealists – attracting the attention of most visitors, who say ‘Is it really a painting?’ “There are artists available to take on new commissions at a surprisingly affordable rate,” says Sally Perry of Go Figurative. “Alan Coulson, who painted Latoya, takes commissions from £2,000 (for a pencil drawing); Helen Masacz, who painted

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Wyndham Lewis Workshop circa 1914-15 © Wyndham Lewis and the estate of Mrs GA Wyndham Lewis

Boris Johnson in last year’s show, starts at £4,000 for a painting; Hynek Martinec, winner of the BP Young Artist Award in 2008, is currently working on a commission for £10,000. Most artists work from photographs following just one sitting. Time scales varying from four to 12 weeks from start to finish.” Alan Coulson, Hynek Martinec and Helem Masacz are all represented by www. gofigurative.com. The Vorticists are of great consequence, not only for being themselves, but also for the subsequent influence that they had on developing modern British art in England. Without the Vorticists, we would still be with the Camden Town Group – you can buy fine examples from The Fine Art Society, 148 New Bond Street, London W1. With Vorticism you’re looking at the British abstract crack at Cubism and Futurism, concentrating the new machine age philosophy of modernity and semi-loss of individual identity because of World War I. Vorticism, having barely lasted from 1914 to 1917, died as it existed, because of the War. Which for you, as a collector, is the best thing about it. Short-lived, apart from their artwork (from Epstein’s sculpture Rock Drill, to Vortographs – the first abstract photographs by Coburn). If you can get their art periodical, published in pink, entitled BLAST, great; a quarterly journal, there were only two issues. Check out auctioneers www.bonhams.com. Stanley Spencer and the English Garden is a must-see if you’re looking for striking, typically English landscapes of the 1920s, 30s and 40s. Being a mystic Christian, even Spencer’s simplest garden views are his Eden, with flowers blooming all at once. For the non-green fingered, note that his paintings are, by nature, quite impossible, as each blossom has its own season for growth; Spencer paints wisteria, lilac, rose and clematis, all blooming beautiful, all at the same time. An en masse celebration of British landscape, they are totally different to his Biblical scenes. As investors favoured his Biblical scenes, and disregarded his gardens, you may well be able to bag a bargain. www.sothebys.com confirms a record high for Spencer’s art. To get an idea of what art could look like on your walls go to Farley Farm House

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Photo: By kind permission of the Wyndham Lewis Memorial Trust

Stanley Spencer Cookham Rise: Cottages Oil on canvas Private collection; by permission © DACS

Tracey Emin Series of appliquéd blankets (various dates) Hayward Gallery, Southbank Centre Photo: David Levene

Hynek Martinec Madonna – Lucky Man 107 x 117cm oil on canvas

Sertan Saltan Mrs. Cerna © Sertan Saltan BP Young Artist Award Winner 2011

in Lewes, East Sussex. (Consider a Salon Hang; it’s all the rage – the Royal Academy Summer Show and National Portrait Gallery BP Portrait Awards 2011 having both opted for it.)

Pan of the British art world, and it’s still ok to refer to her as a Young British Artist. Since the early 1990s she’s used her own life as the starting point for her personal, often harrowing work.

Kept exactly as it was when the house was bought by British Surrealist painter and exhibitions organiser Roland Penrose – knighted in 1966 for “the furtherance of contemporary art” in Britain – and his wife, photographer Lee Miller, in 1949, it’s like going back in time. You may take a tour, with either Penrose and Miller’s son, author Anthony Penrose, or granddaughter, Ami Bouhassane. (The tiles behind the Aga were hand-painted by Picasso.)

Paintings, drawings, videos and textiles are inspired by her abortions; her inability to find love [“the love of my life is still my cat, Docket”]; not being able to have a baby; her almost drowning in alcoholism. Sometimes confrontational or sexually provocative, she says of her work “it goes out in to the world and people can take from it what they want”.

If you’re after a household name, then Tracey Emin, at nearly 50, is the Peter

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For work by Tracey Emin, contact one of the world’s leading galleries for contemporary art, www.whitecube.com. By Estelle Lovatt

Exhibition details n Constable and Salisbury. The Salisbury and South Wiltshire Museum, The King’s House, 65 The Close, Salisbury. Until 25 September. n NPG BP Awards 2011, National Portrait

Gallery, London, WC2. Until 18 September. n Go Figurative www.gofigurative.com n The Vorticists: Manifesto for a Modern

World’ Tate Britain, London, SW1. Until 4 September. n Stanley Spencer and the English Garden, Compton Verney, Warwickshire. CV35 9HZ. Until 2 October m

n Farley Farm House, Lewes, East Sussex. www.farleyfarmhouse.co.uk to book a tour.

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Gallery view 88 www.themarketmagazine.co.uk

1. JEMMA APPLEBY, Jacobs #4 - Charcoal on paper - 85 x 85cm. www.lisasharpecontemporaryart.co.uk 2. NADIA TSAKOVA, Woman in White - Oil on canvas - 60 x 50 cm- ÂŁ2,550. www.lisasharpecontemporaryart.co.uk

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Matteo Massagrande, Albemarle Gallery 1. Interior III mixed media on panel 18 x 24 cm. www.albemarlegallery.com. 2. Interior VI mixed media on panel 24 x 18 cm. www.albemarlegallery.com. 3. Interior XX mixed media on panel 200 x 150 cm. www.albemarlegallery.com.

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SIR DAVID CHIPPERFIELD Form Matters Sir David Chipperfield is one of Britain’s leading contemporary architects. Until recently, his work had largely been built overseas, but with the opening of two major projects in the UK, The Turner Contemporary in Margate and The Hepworth in Wakefield, the British public can now experience his unique buildings first hand.

Sir David Chipperfield studied at Kingston School of Art and then at the Architectural Association in the late 70s, where he was in the same year as fellow architect Zaha Hadid. He went on to work for Norman Foster and Richard Rogers, before founding David Chipperfield Architects in 1984. His first commissions were for the Issey Miyake shops in London and Japan, which were a success and led to further Japanese projects. Since then he has designed a wide variety of buildings, from shops and houses to museums, libraries and law courts. His striking creations can been found across the globe, from Shanghai to Valencia. Chipperfield’s distinctive buildings could be described as sober and sophisticated. Sober because they have simple forms and a subdued palette of materials, concrete, metal and glass; sophisticated in that much effort has

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gone into creating the forms, the layout of the interiors and their details. He is clearly interested in quality: the quality of the spaces he creates, the quality of the light in these spaces, and the quality of the experience for the buildings’ users. Expanding from an architecture firm employing 15 people, to one with almost 300 employees, David Chipperfield Architects has offices in London, Berlin, Milan and Shanghai. Working on a variety of building types, and in multiple locations, has helped the company weather the economic downturn. While the UK building industry has been in decline, David Chipperfield Architects has been busy building in China and Germany. The Market met with Chipperfield at his London studio and we talked to him about his 30-year career and recent projects. We asked him about his design concepts

Chipperﬁeld’s distinctive buildings could be described as sober and sophisticated

Credits: p92 Colour portrait of DC by Martin Godwin, copyright: Martin Godwin; p93 America’s Cup building, Valencia, Spain. Top photo. Building exterior, copyright: Christian Richters; Bottom photo. Building interior, copyright: Richard Walch

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for the Turner Contemporary in Margate and the Hepworth Wakeﬁeld.

house the works of the sculptor Barbara Hepworth, a native of Wakeﬁeld.

“Both buildings are composite forms, rather than being a singular form. They are multiple forms put together. The external form reﬂects the internal room. In Margate, you have these shedlike structures, and inside you have a shed-like space. In Hepworth, they are more trapezoidal forms, but what you see on the outside is what you get on the inside. You get a hollowed out trapezoidal volume.”

It will also house the City of Wakeﬁeld’s extensive art collection and host contemporary art exhibitions. With more than 1,600 square metres of gallery space, The Hepworth Wakeﬁeld is the largest purpose-built exhibition space outside London and is part of a larger regeneration scheme. This architectural work of art is located in a conservation area, among listed mills and historic warehouses.

At Hepworth Wakeﬁeld, 11 blocks cluster together like a small village, set on a weir. At Margate, six blocks cluster together on the seafront, facing out to sea. The Hepworth Wakeﬁeld has been built to

We asked Chipperﬁeld how he came up with the clustered design of the Hepworth. “The very ﬁrst sketches I did were of a series of buildings pushed together, so that was a very strong

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concept from the start, that it shouldn’t be one big volume, but a volume made of smaller ones.” The Turner Contemporary, like the Hepworth Wakefield, is a space for contemporary art, and is composed of a cluster of six volumes grouped together to form the building. The building is located between the land and the sea, and has a strong sculptural presence on Margate’s seafront. The orientation of the building was influenced by the desire to get views out to sea, views of the town, and light from the north into the galleries. The building is composed of six identical two-storey volumes set on a plinth to protect it from flooding. The gallery

spaces are well lit and not vast. “I think galleries work best with limited scale rooms,” he said. Both projects have been largely funded by their local councils, as part of economic and cultural regeneration schemes. They are designed for local people to use and enjoy, and to bring in visitors from outside the immediate area. The Turner Contemporary has had more than 150,000 visitors in the ﬁrst three months since opening, exceeding the number predicted for the whole year. The Turner Contemporary and Hepworth Wakeﬁeld are both public buildings funded by the local council and art organisations. Unfortunately nowadays there are relatively few

commissions, or competitions for public buildings in the UK, in comparison to the rest of Europe and Japan. This is one of the reasons that most of Chipperﬁeld’s work has been outside the UK. “If you go to Europe, the public sector is still strong, so in France, Germany, Austria and the Netherlands, there are still big programmes of public building works for libraries, museums and railway stations, which are all commissioned through the competition process.” Architectural competitions are one of the ways young architects can make a name for themselves. Fewer competitions mean less opportunity for new architectural talent to emerge.

Credit: p94 & p95. Building exterior. The Turner Contemporary, Margate.Copyright: Richard Bryant/Arcaidimages.com

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We then asked Chipperfield about the UK building sector. “We are operating in a vibrant commercial market. The development energy here is primarily commercial. The consequence of liberating the private sector has been to weaken the public sector. However, we have always been able to get work outside of the UK. I can’t complain as we have been fine but every project involves a flight!” We asked Chipperfield which countries he thinks are producing the most interesting architecture. “Japan and Switzerland have always produced good architects, because they are willing to listen to the architects and willing to pay for quality. For the past ten years Spain has had a lot of energy and development. However, that bubble has now burst and it is having a difficult time. Brazil and India are producing a lot of interesting and innovative work, the climate there allows for experimentation, the building can be more than just a box with windows and doors.” Chipperfield has become known for his museums, which isn’t surprising as he’s designed quite a few of them around the world. He has designed museums and art galleries in the UK, US, Europe and China; he was recently awarded the EU Prize for Contemporary Architecture 2011 – ‘Mies van der Rohe Award’ – for his reconstruction of the Neues Museum in Berlin. The Neues Museum on Berlin’s Museum Island is a 19th century neo-classical building by the architect Friedrich August Stüler. It was partially destroyed during

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World War II, and stood unrestored until German reunification. David Chipperfield Architects has rebuilt and restored the museum, retaining the original layouts and spaces, while updating its facilities for the 21st century.

a door handle he likes for one of his buildings, he designs one. He has designed door handles for Valli & Valli, furniture for B+B Italia and Cassina IXC, lighting for Zumtobel and FontanaArte, and tableware for Alessi.

The America’s Cup Building in Valencia’s Old Port is another David Chipperfield project that has received much acclaim. The building’s sculptural form stands white against the blue sky; the stacked and shifted floor slabs are dramatically cantilevered, providing shade and uninterrupted views out to sea. It’s another example of Chipperfield’s sophisticated simplicity, taking each building back to a handful of key elements and materials.

When asked which artists inspire him, he said: “I admire the work of Thomas Struth, Andreas Gursky, Antony Gormley, Anish Kapoor, Cy Twombly, Gerhard Richter and Gary Hume.” He also likes contemporary photography and the work of the American Abstract Expressionists.

Chipperfield is currently designing a major development in London. Located next to Waterloo station, the Elizabeth House project will consist of mixed-use buildings, with a new public square and improved access to the station. The project is scheduled for completion in 2015, and is set to transform the area. We asked Chipperfield about the young architects working for him. “We are very privileged, because the people who come to work here, see it as a good studio to work in. They are very motivated. We give them a lot of responsibility; and they grab that responsibility. It’s really impressive to see how young architects come here and after five years they have an amazing amount of real architectural experience.”

During the process of designing museums and artists studios, Chipperfield has know many of today’s leading artists. “As an architect, you’ve got to be interested in art…I think it is important to be aware and have some curiosity about art.” When asked if he had always wanted to be an architect, Chipperfield is thoughtful for a moment, and then replies that he grew up on a farm, and as a child he actually wanted to be a vet. If he couldn’t be an architect, what would he like to be? “A photographer, or a painter…I wouldn’t mind cooking, being a chef would be good.” However, we don’t expect Chipperfield to be looking for a new career anytime soon, as his talents as an architect are clearly in demand, at home and abroad. By Gordon Ross A winner of the Sterling Prize, the EU Prize for Contemporary Architecture and a RIBA Gold Medal, Chipperfield was knighted in the Queen’s

Like many leading architects, Chipperfield also designs products. If he can’t find

New Year Honours List 2010 for his services to Architecture.

Photo 1: Neues Museum, Berlin. Copyright: Stiftung Preußischer Kulturbesitz/DavidChipperfield Architects, photographer: Joerg von Bruchhausen. Photo 2: Copyright: Ingrid von Kruse. Photo 3, 4, 6, 7 & 8: The Turner Contemporary, Margate. Copyright: Richard Bryant/Arcaidimages.com. Photo 5: Neues Museum, Berlin. © Stiftung Preußischer Kulturbesitz David Chipperfield Architects, photographer: Ute Zscharnt.

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Property

International Investing in

Residential Real Estate

Tropical islands, beautiful landscapes, good weather and potential for rental income, buying an international investment property has many benefits. Rachel Newcombe takes a look at some exotic locations around the world that could be tempting for property investors. Mauritius Located in the Indian Ocean, off the east coast of Africa, the island of Mauritius is renowned for being a luxury holiday destination. Favoured for its white, sandy beaches and tropical feel, the island is also a popular location for international property buyers wanting their own piece of paradise. The Mauritian Board of Investment is keen to encourage foreign buyers and has a favourable tax and legal framework in place for investors, including the ability to buy freehold property. The market for foreign property buyers only opened up in 2001 and “the available land for developments is getting more scarce each year, encouraging a continual rise in prices and a greater yield on your investment, should you sell after a few years,” says a spokesperson for Erna Low Property.

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Four Seasons Private Residences has a number of homes available that provide the ultimate in luxury, with access to all the amenities and services at the Four Seasons Resort Mauritius at Anahita. Contact: Four Seasons Private Residences Tel: + 230 404 2266 Web: residences.fourseasons.com/private_ residences/mauritius For Grand Deluxe or Royal Residences contact the London sales office on 020 7833 7180

St Lucia Part of the Windward Islands in the West Indies, the Caribbean island of St Lucia is a lush and tropical destination with plenty of natural, unspoilt landscape. The island is regarded as a stable and safe tourism location, with a good infrastructure and amenities. It is a popular sailing destination and new super yacht facilities at Rodney Bay Marina are proving popular with celebrities and mega yacht owners.

On the market Twelve beachfront villas with an inclusive concierge service are currently being built at Coral Residence, on the southeast of the island in Vieux Grand Port Mahebourg, 10 minutes from the airport. Each with a minimum of three bedrooms, a private pool and gardens, the villas range from €574,000 to €1,440,400 and are due for completion during 2012.

St Lucia is easily accessible from both the UK and US, with multiple flights per week, and plans are under way for a new airport terminal. The official language is English, although Patois, a local French Creole dialect, is also widely spoken. As far as taxes go, there’s currently no VAT, capital gains, death duties, inheritance or estate taxes in St Lucia.

Contact: Erna Low Property Tel: 020 7590 1624 Web: www.ernalowproperty.co.uk

Like many other areas, beachfront properties are particularly sought after, but in most cases properties directly

THE MAURITIAN BOARD OF INVESTMENT IS KEEN TO ENCOURAGE FOREIGN PROPERTY BUYERS

Properties at Sugar Beach Resort, St Lucia, have views of the sea and the iconic Pitons

The Rumeli Fortress, Istanbul, Turkey.

French Alps.

With more than 3,000 hours of sunshine, Barbados is an ideal destination for golfers

Private homes at Game Lodge can use the main Bush Lodge at Western Cape, South Africa Cape Town, South Africa, is popular for property investors

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The Landings, St Lucia, offers a rare chance to buy freehold beachfront property

open in 2013. The area already attracts tourists year round, but will potentially attract even more (the country is aiming for five million a year). “Tourism has and will play a significant role in the growth of the Brazilian economy. More than 5.1 million foreign nationals visited Brazil in 2010, an impressive 7.8% rise over 2009, and forecasts for 2011 are set to be even higher,” said Ray Withers, director of property investment company, Property Frontiers.

Natal, Lake Como, Brazil,Italy has a growing second homes market

On the market Edificio Dr Geraldo Furtado are two and three-bedroom apartments, finished to a high specification, and with views towards the sea, are available in the northeast area of Natal. Contact: Property Frontiers Tel: 01865 202700 Web: www.propertyfrontiers.com

Barbados is perenially popular with tourists, investors – and celebrities

overlooking the beach in St Lucia are sold on a leasehold basis. This is because of the Queen’s Chain Regulations, which state that all property within 20 metres of the shoreline is owned by the government and can only be leased. Exceptions to this rule are limited, but there is one notable development that currently has opportunities to buy freehold beach property. Built on reclaimed land, overlooking Rodney Bay, The Landings offers a rare chance to invest in property in a dream location. “Because of its location on reclaimed land, it is in the unique position of offering freehold beachfront property. It will never happen again,” says Chris Owen, general manager of Sothebys in St Lucia. On the market A selection of two, three and fourbedroom apartments are available at The Landings, with many featuring outdoor heated plunge pools, balconies and terraces, plus high-end interiors. There are extensive on-site amenities, including a restaurant, pools, tennis courts, shops and concierge service. Plus, owners at The Landings have membership at the St Lucia Golf and Country Club. The beachfront apartments are priced from

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USD $1.8m to $3.5m. Contact: The Landings St Lucia Tel: 020 7079 1443 Web: www.thelandingsstlucia.com

The Residences at Sugar Beach is a collection of 42 exclusive properties with views of the Caribbean Sea and Val des Pitons. Two to six-bedroom properties are available, with prices ranging from USD $2.4m to $9m. Contact: Residences Sugar Beach Tel: 0844 921 0126 www.residencessugarbeach.com

Brazil Although still an emerging property market, this exotic Latin American destination is rising in popularity with foreign investors, thanks in part to its real estate. Residential property in Brazil costs around one third of the price you would pay for similar properties in Spain or Portugal, helping your money stretch further. Natal, in Rio Grande do Norte state has a developing second-homes market for foreign investors. Improvements to infrastructure are ongoing, more than £1bn is being invested in new hotels, resorts and golf courses and a larger airport is set to

The Natal Ocean Club, located on a white, sandy beach, including a private beach area, has apartments and villas available. It is set in 20 acres of tropical gardens and offers a luxury hideaway. Prices start at £138,000. Contact: Property Frontiers Tel: 01865 202700 Web: www.propertyfrontiers.com

South Africa With its temperate climate, beautiful scenery and low cost of living, areas of South Africa have become popular with property investors. English is widely spoken; the country has a good infrastructure and good facilities. “Foreign investors typically purchase coastal properties in Cape Town (which is 30% foreign owned), the Garden Route and the Eastern Cape,” said a spokesperson for Lew Geffen Sotheby’s International Realty. One of the areas popular with property buyers and tourists alike is The Garden Route, an area of coastline that runs from the Eastern to Western Cape, including areas such as Mossel Bay, Knysna and Port Elizabeth. As it is popular with tourists too, the rental market tends to be good, offering good scope for investors wanting to rent properties. As an added bonus for UK visitors, it’s in the same time zone.

LIVE IN YOUR DREAM

On the east coast of Mauritius island, a Garden of Eden nestled in the Indian Ocean, Anahita World Class Sanctuary offers you the unique opportunity of owning a villa or simply renting one during your holidays... We have four stunning 5 bedroom shore front properties in unique positions, each with glorious panoramic sea and golf course views from ÂŁ3,000,000. Freehold Property | Homeowner Privileges | No Inheritance Tax | Rental Programme | 18-Hole Golf Course designed by Ernie Els | Spa Call Sales directly on +230 497 6070 - ntulwa@anahitaproperty.com www.anahitamauritius.com

MOROCCO IS A LIVELY AND ECLECTIC DESTINATION WITH A HOST OF OPPORTUNITIES FOR DISCERNING PROPERTY INVESTORS...

On the market Rivertide at Simola in the Knysna area of the Garden Route is a four-bedroom house built above the third hole of the Simola Golf and Country Estate. The 500m2 home has four ensuite bedrooms and luxury design. It costs £1,027,100. Contact: Barton Wyatt Tel: 01344 843 000 Web: www.bartonwyatt.co.uk

Bush homes are available at a private Game Lodge in the Western Cape, 30 minutes from Mossel Bay. The private homes beneﬁt from the use of a bush lodge and other facilities, plus a rental pool. Freehold ready built houses cost R6.5M (roughly £600,000) and plots of land are R1.5M (roughly £140,000). Contact: Aylesford International Tel: 020 7349 5100 +27 21 430 2140 Web: www.aylesford.com

Morocco Located at the tip of North Africa, between Algeria and the Western Sahara, Morocco is a lively and eclectic destination with a host of opportunities for discerning property investors. From homes near the sandy, white coastlines, to riads in bustling towns and cities and even ski homes in the Atlas Mountains, there is something for all tastes. The city of Marrakech is an established tourist destination and property here is in demand. Traditional riads nestle alongside modern villas, but many riads in poor state have long since been snapped up at rock bottom prices by developers and prices have risen as a result. However, if you look to the edge of the city, rather than the centre, and modern villas rather than rundown riads, it is still possible to ﬁnd affordable buys.

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Morocco is easily accessed from the UK – it’s only a three and a half hour ﬂight – making it ideal for both weekend breaks and longer holidays and has great potential for buy-to-let investors. According to a recent Marketplace Murcia, Spain Report by HomeAway: “With an increase of only 16% in new property listings, but a considerably 56% rise in booking enquiries, demand for holiday rentals here continues to outstrip supply, meaning a great opportunity for existing property owners and new investors.” On the market The Samanah Country Club in Marrakech is located 8km from the international airport and offers a range of traditionally designed villas and riads, with three to six-bedrooms. The Country Club includes a Jack Nicklaus designed private 18-hole golf course. Prices start from €357,000 to €2,162,000. Contact: Barton Wyatt Tel: 01344 843000 Web: www.bw-international.com

SBM Monte Carlo luxury resort hotel in Marrakech is under development by Aerium Atlas Management. It has 25 exclusive premium luxury villas with access to all the resort facilities including an Espa Spa, Alain Ducasse restaurant and a state of the art sport club. Prices for the villas are between €3m-6m. Contact: London sales ofﬁce on 020 7838 7180

Barbados Tropical and idyllic, the Caribbean island of Barbados has more than 3,000 hours of sunshine a year and is a popular destination for tourists and property buyers alike. The island has a large British expat community, plus celebrities such as Simon Cowell, Sir Cliff Richard

and Sir Andew Lloyd Webber own property on the island. Barbados is an attractive investment for property buyers, and prices are currently up to 15% less than they were a few years ago. The primary specialism is luxurious and exclusive property, so this is one location where a hefty budget will get you far. On the market Located in St James, on the west coast of Barbados, the ﬁve-star Royal Westmoreland resort offers luxurious new build or resale villas with views of the fairways and the sea. The villas have two to eight bedrooms, many with private swimming pools. One property, Cuba Libre, which features a house and a two-bedroom cottage, is currently on the market for USD $6.7m. Contact: Royal Westmoreland Tel: 01524 782649 or 001 246 419 0494 Web: www.royalwestmoreland.com

The Weston St James development of 45 luxury, pool fronted apartments, less than 100 metres from the beach, offers one to four-bedroom apartments. Prices start from USD $205,000. Contact: Cluttons Resorts Tel: 020 7584 3050 Web: www.cluttonsresorts.com

Bahamas Part of an archipelago of 700 islands and well-known for its balmy weather, sandy beaches and clear seas, the Bahamas offers a luxury lifestyle and good rental property opportunities. “The majority of Bahamians live on New Providence, where our capital city, Nassau, is located,” say John Christie, vice president of HG Christie Ltd. New Providence is about 100 miles from Florida and its international airport is well served by ﬂights from the US, as well as other European countries. On the market The Rocks at Nassau consists of ﬁve buildings located above Clifton Bay on 3.5 acres. It is located between the ocean and the bay, with 500ft of beach frontage and 400ft of bay frontage, together with six bedrooms, six bathrooms and a living area of 6,000 sq ft. The Rocks is on the market for USD $27,000,00. m

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Travel

Homefrom Home Southern Spain’s exclusive Finca Cortesin resort offers guests the chance to escape the madding crowds of the Costa del Sol’s mainstream hotels, experience world-class golf facilities and relax in a state-of-the-art spa. And if that’s not enough, how about buying a villa and making the estate your permanent holiday residence?

fter leaving behind the UK’s dreary grey skies, the gleaming white exterior of Finca Cortesin – a luxury hotel, golf and spa resort in southern Spain, between Marbella and Sotogrande – dazzles under the warm Spanish sun. First impressions are, well, impressive.

There is no mention of fake tans and acrylic nails on the treatment menu here. But if you would like a massage with volcanic stones, be wrapped in

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The 70-acre resort has only been open since March 2009, yet it has quickly been discovered by an increasing number of discerning guests from all around the world seeking to relax and rejuvenate in first-class surroundings. The emphasis here is on the word ‘discerning’. The resort is renowned for its world championship golf course – par 72, 18 holes, designed by Cabell Robinson and with a Jack Nicklaus Golf Academy – yet plus fours and Pringle sweaters are not a common sight here. Golf club valet, on-course buggy bar and perfectly manicured greens, however, are – all with far-reaching views of the nearby sea. The clubhouse is beautifully finished and oozes luxury, from the thick pile carpets to the carefully chosen solid wood furnishings. Golf carts are equipped with

a state of the art navigation system, are stocked with fruit and water – and you can even order your lunch through them. The resort now hosts the Volvo World Match Play Championship each year – perhaps testament to the quality of the course as the event was previously a permanent fixture at Wentworth Golf Club in Surrey for more than 40 years. However, the course itself is not for the novice golfer as deep valleys, rocky ravines and thorny bushes make it pretty challenging. Best to buy a few extra balls before you start as unless you’re a single handicapper you might struggle to get anywhere near your normal scores. However, if your idea of relaxation involves slightly less physical exertion, the 2,200m2 spa has enough facilities to chill out the most stressed of guests, including under-floor heating, heated massage beds, Turkish baths, and a Finnish sauna. The spa also has a stateof-the-art fitness centre, a heated indoor pool and Spain’s first-ever snow cave, if you’re brave enough to try it. The treatment list has been composed using the latest in beauty technology

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from Biologique Recherché. Scanning the menu, there is no mention of fake tans and acrylic nails here. However, if you would like a massage with volcanic stones, be wrapped up in thermal seaweed or have a caviar facial, then this is the place for you. With the facilities at Finca Cortesin being first class, it is only fitting that the accommodation is of the same ilk. The hotel itself has been built around two large courtyards and the property has 67 rooms, divided into junior suites, executive suites, pool suites and a Cortesin Suite, which is 180m2. Ceilings are a lofty four metres high, which make the rooms feel incredibly light and airy. All the bathrooms are designed in Italian marble and are equipped with an oversized bath and separate shower area. The exterior has been inspired by traditional Andalucian architecture and design features comprise white walls, shady arcades and courtyards.

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Continental antiques are used in the guest areas, alongside terracotta floors and wooden doors salvaged and restored from European castles. The hotel also has two destination restaurants, as well as bar and terrace areas, offering luxurious but unpretentious dining options. Schilo is the more formal restaurant that combines contemporary and traditional design features. The open plan kitchen serves Arabic and Asian cuisine using fresh ingredients and fruit and vegetables grown in the estate’s orchards and allotments. El Jardin de Victor gives guests a more local dining experience and is housed inside a large room decorated with Spanish tiles, complete with an al fresco terrace overlooking the sea. Andalucian dishes are served with local ingredients including jamón, olives and oils. Guests are also free to dine on tapas and Arabian mezze in any of the groud floor guest areas, outside terraces or Moroccan and Indian chill-out areas.

Location, location, location As they say, when you’re buying a property, what’s important is location, location, location. And the same advice applies on foreign shores. It’s always worth checking out the surrounding area, as well as other quality properties nearby before parting with your cash. Finca Cortesin is right in the heart of the Costa del Sol, between Sotogrande and Marbella. The marina at Puerto Banus, near Marbella, is legendary and a popular hangout for the rich and famous. Packed with bars, cafés and million dollar yachts, this is a great place to shop, party or people watch. In Sotogrande, one hour from Malaga, the atmosphere is more relaxed. As well as a famous marina, the town is packed with pedestrian pathways filled with boutiques, upmarket estate agents restaurants and elegant bars. Long sumptuous dinners are on the menu here. Other places to stay

So, with golf and spa facilities, exquisite, spacious surroundings and enough food and drink options to satisfy the most discerning clients, it’s no wonder some guests decide they don’t want to leave. Which isn’t a problem as Finca Cortesin has also built villas on the estate, which are available to buy.

see why villa accommodation may not appeal. But here at Finca, the hotel can come to you. From in-villa dining and daily housekeeping and gardening – and a whole list of exclusive privileges applicable on hotel, golf and spa facilities – occupants are left free to indulge themselves however they please.

La Reserva de Cortesin is a collection of 16 spacious holiday homes located within the golf club area. With 24-hour security and views over the golf course and ocean, the villas are south facing and each has its own private plunge pool. The villas are Mediterranean in style and blend seamlessly with the hotel. The properties comprise four bedrooms, a living room and dining room, marble bathrooms, fitted kitchen, storage space and laundry room. The outside terrace leads to the private pool. Prices start at €1,7 million.

In addition, there are a further nine larger villas on the estate that buyers can decorate to their own specification. Again, each overlooks the golf course and ocean, but buyers can decide on their own landscaping, internal fittings and features and stamp their own style on the property. Architects have sought out the highest quality materials from marble flooring, traditional Andalucian roof tiles and top-notch kitchens, complete with the latest technology, of course. Four have already been sold and prices for the m remaining five start at €2.7 million.

Of course, the main purpose of a holiday is to free yourself from the daily grind of cooking and cleaning, so it’s easy to

Gran Hotel Elba Estepona and Thalasso Spa Located in Estepona, this property is five star and sits facing the ocean. Design blends classic with modern and facilities include golf, as well as a thalasso spa, which uses fresh sea water. There are three themed restaurants – Andalucian, Asian fusion and French – as well as an informal pool restaurant. Club Maritime de Sotogrande Club Marítimo de Sotogrande is set within steps of the marina in this sophisticated Mediterranean seaside resort. The red façade shelters interiors that are equally stunning and the quirky restaurants serve buffet breakfast and regional cuisine overlooking the sparkling sea. As well as a great base for exploring the region, this funky hotel has a wealth of unusual design features. From soaring pillars swathed in metal mesh to stainless steel facings and scrambled wooden lattice work that complement huge windows and enticing sea views.

By Melanie Eilers

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WIN a luxury stay in a country retreat

While we still have some summer sun left, why not escape the busy city to enjoy some of Britain and Ireland’s beautiful and tranquil country house retreats? Indulge in the luxury of one of the magnificent properties from the Small Luxury Hotels of the World portfolio with our fantastic competition to win a two-night stay. Enjoy the fresh outdoors with long walks through rambling hills, or a horse ride in the forest followed by traditional afternoon tea on the terrace overlooking elegantly manicured lawns. A game of golf or an afternoon being pampered in the spa, a spot of croquet or clay pigeon shooting; whatever your inclination, Small Luxury Hotels of the World is guaranteed to have the ideal country retreat for you to truly relax in. The Small Luxury Hotels of the World™ (SLH) brand is an unrivalled portfolio of some of the world’s finest small independent hotels. Comprising more than 520 hotels in more than 70 countries, the diversity of the individual hotels, and the experiences that they offer, is exceptional. From cutting-edge design hotels to palatial 17th century mansions, city-centre sanctuaries to remote private islands, historic country houses to idyllic resorts, Small Luxury Hotels of the World offers only the very best. Reservations can be made at any Small Luxury Hotels of the World property online at www.slh.com, via the free SLH iPhone app or by contacting your favourite travel advisor. And if you join The Club of Small Luxury Hotels of the World, you will receive great benefits on every booking you make. The prize is based on one standard double room for two people. Complimentary breakfast is included in your stay. To enter, please email your name, address and telephone number to info@themarketmagazine.co.uk, entitling the subject, country retreat. Good luck!

Terms and Conditions Entries must be made in accordance with the competition instructions. They are invalid if they are received any later than the specified closing time (which shall be London date and time). There will be no cash or other alternative to the prize offered and prizes are not transferable. Where applicable, prize winners will be responsible for organising valid passport(s) and for securing any necessary visas or complying with other regulation. They are also strongly advised to take out adequate insurance and health advice. Dates, destinations and other specific details of a prize are subject to availability. Market Publishing Ltd will not be liable for any circumstances beyond its reasonable control that prevent the competition being fulfilled, a winner or winners being chosen, or any prize being taken up or fully enjoyed by a winner. Market Publishing Ltd excludes liability to the extent permitted by law for any cost, claims or losses howsoever caused that arise by reason of any person’s entry into a competition or the award, or non award, to them of a prize. In the event of any error, whether printing, technological or otherwise, which affects the competition in any way, the Judges reserve the right to administer the competition as though the error had not occurred. If any winner of a competition is unable to take up a prize for any reason, or if Market Publishing Ltd has not been able, after making reasonable efforts, to make contact with the winner, Market Publishing Ltd reserves the right to award that prize (without notice to the first winner chosen) to an alternative winner, in which case the first winner chosen shall not be eligible for any share of the prize whatsoever. Market Publishing Ltd shall not have any liability in such eventuality.

Health

Health on the go Despite today’s busy lifestyle, it is important to try to maintain a healthy diet that creates stable energy levels, and therefore helps increase business performance.

Afternoon energy slumps and subsequent sugar cravings are common 112

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o matter how good our food intentions are at the start of the day, when we are out and about it is easy to fall prey to eating junk food for a quick fix if we get hungry.

maintain even energy levels and avoid hunger pangs, which inevitably lead to eating junk! I always encourage being prepared with snack options for the day and in case of being delayed.

High sugar, high fat and salty snacks are readily available in vending machines, stations, airports and coffee shops but healthy foods are hard to find. Poor quality foods may often be the only solution to stave off hunger, but the negative effects on energy, weight and cravings along with a whole array of other health problems, make them an unappealing choice if you are trying to be healthy. Many of my clients share their frustrations with me about how hard it is to balance convenience with a nutritious diet.

A piece of fruit and a handful of raw nuts is probably the simplest option and can stop us from getting hungry if eaten in-between meals. An apple with brazils, cashew nuts or almonds is perfect. Alternatively, a small portion of berries (roughly half a cup) mixed with a small handful of sunflower or pumpkin seeds is nicer than it might sound.

Whatever your lifestyle, with a little preplanning it is possible to avoid making poor food choices and hence skip all the negative effects. Never leave the house without food, is my number one tip to clients and there are numerous healthy snacks that we can keep in our bags, cars or desk drawers to nourish our bodies and satisfy hunger healthily. Eating a healthy snack mid-morning and mid-afternoon is a great way to

Always mix some protein (e.g. nuts, seeds, natural yoghurt) with healthy carbohydrates (i.e. fruit and vegetables) to keep energy balanced and hunger levels stable. This also means you’re providing yourself with an array of different vitamins and minerals. Most supermarkets, airport or station shops sell a variety of nuts and seeds in small handy packs along with fresh or dried fruit. Go easy on the dried fruit though… one small handful is enough! Afternoon energy slumps and subsequent sugar cravings are common, so a convenient and healthy choice for this time of day would be two oatcakes

with a little houmous. A small bag of carrot batons with a little houmous is also a great way to achieve one of your ‘five a day’. Admittedly carrying a tub of houmous around isn’t an especially appealing option! However, it is easy to buy small Tupperware pots and many shops now sell snack-sized portions.

Eating a healthy snack mid-morning and mid-afternoon is a great way to maintain even energy levels and avoid hunger pangs

There are a multitude of ‘healthy’ cereal, snack and energy bars available now but sadly few of them are actually good for us. Read the labels carefully and avoid the ones with added sugars, syrups and fructose or words that you can’t pronounce (as they will be no better than a bar of chocolate). And remember, just because it’s organic or ‘low calorie’ doesn’t mean it’s healthy…chomp with caution! Unhealthy drinks, of course, are readily available to tempt us as well. If you want a hot, comforting drink while you are travelling or meeting friends you might be faced with the limited choices of sugary or highly caffeinated drinks. If you are trying to reduce your caffeine intake and cut the calories, I suggest keeping a few of your favourite herbal tea bags handy. Rooibos tea is a great substitute, tastes good with a little milk and is the closest I have found to a traditional cuppa. If you like drinking sodas then try diluting fruit juice with sparkling water for a healthier alternative. And finally, don’t forget your water. Hydration is key for your entire health, so keep a bottle with you and sip it regularly while on the go. The best way to stay on track when you’re trying to stick to healthy eating is to plan out your day in advance and be prepared. Ask yourself when you are most likely to succumb to unhealthy temptations or have limited choices and make sure you leave the house well stocked with delicious options. That way you can stay on track even when you’re on the go all day. m

By Amelia Freer, FdSc, Dip ION, mBANT Nutritional Therapist For more information contact Amelia@stephen-price.com www.stephen-price.com

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Health

Are you

fit 4 business? WHAT FLOATS YOUR BOAT? Research has shown that employees who embrace fitness as a lifestyle choice are more productive, take less sick leave, have more energy, more self-confidence and inspire confidence, are less stressed and tend to take more leadership roles in the workplace. In fact, the list of advantages of fit employees to employers seems endless.

y name is Toby Garbett and my background in the world of health and ﬁtness originates in the cut-throat world of Olympic rowing, where the time and effort you put in is rewarded by what you get back. The margins for success and failure in the world of sport come down to hundredths of a second. This can be likened to the width of an apple – and in 2002 cost me a gold medal, this equated to just 0.02 of a second. I was a World Champion in the preceding years and went on to represent Great Britain at the Athens Olympics.

Fitness is for everyone but the question is have you found your fitness niche? ‘Ballet is back’, ‘Zumba is in’, even open water swimming and triathlons are booked up well in advance. I am well aware of this as I have promoted many events this year to my clients, but failed to secure a place myself because of events being sold out in a matter of hours. The range of fitness and levels available across the country is vast from fun activities such as Zumba and dance classes, to more serious clubs for running, boxing, Judo and fencing etc. If none of the above ‘float your boat’ then you just need to find what is best for you. Think about what movement or sport you enjoy, or has always interested you, and sure enough there will be a class, club or the right personal trainer for you. If you don’t want any organised sport at all, just think about getting more exercise during your normal routine, like walking to the station instead of driving or taking the stairs instead of the lift. If mentally, it is headspace you are looking for try a walk around the park or a trip to the local pool alone. Time to think and oxgenating your body through exercise can be a real brain booster. Try to get started, if only in a small way, rather than nothing at all.

In business, you may or may not be accountable for business being won or lost by fractions of a second but being as ﬁt as you can be, mentally and physically, could help you win, or stop you from losing that important contract. I now thoroughly enjoy bringing my experience, understanding and motivation to assist others in the ofﬁce or at home as a personal trainer.

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Think about what movement or sport you enjoy, or has always interested you, and sure enough there will be a class, club or the right personal trainer for you.

Simple

T PREVEN E IV REPETIT STRAIN ! INJURY

exercises HIGH WRIST STRATEGY This is a stretch for the back of the hand side of the forearms, which is often affected by poor arm and wrist angles at your laptop or PC. This can cause repetitive strain injury but with this simple daily exercise this should be avoided. If your left arm is tight, simply bring it up towards your chest and push your right hand against the back of the left hand. Holding it for 30 seconds will be enough to relieve tightness.

To target the palm side of the wrist, form a prayerstyle hand position. To increase this stretch, keep the heel of the hands together and push them down towards your waist. Both these exercises relieve tension around the areas affected by extensive laptop and PC use.

For more information on how to get in the zone contact Toby on tg@tobygarbett.com or visit www.tobygarbett.com Toby is the EBA Fitness consultant and personal trainer.

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Real Business Each month we speak to the owners of startups and growing businesses about their strategy and vision.

A Giving Tribute Describe your business and your target market A Giving Tribute is ‘the caring alternative to funeral flowers’, a new concept that celebrates the life of the person who has passed. Mourners may create their personal tribute following an optional in-memoriam donation to charity, all on our website. We print the tributes out and the funeral director displays them at the funeral in a ‘Tribleau’. If the funeral has already happened, we send the tributes directly to the next of kin who may keep them in our special commemorative book available from the funeral director. What makes your business unique? Currently mourners may donate in memory or purchase flowers – but A Giving Tribute combines the best of both. The life of the deceased is visibly celebrated in shared memories and photos at the funeral and farewell reception afterwards and yet the chosen charity benefits too. Even more importantly, the bereaved have a book of memories that will bring much needed comfort and may be passed down through the generations. What has been your proudest day in business? Seeing how much the commemorative book means to the bereaved and their family. I know from experience that once the book is filled with unique references to a loved one, the book becomes irreplaceable and takes the concept to a whole new level. What has been your hardest business day? There have been many. It’s a traditional industry and a subject people prefer not to think about, so revolutionising it is not without challenges! I embrace the difficulties and am spurred on by my passion to help the bereaved and to make a difference.

Liz Mowatt be inspired by those who emerge from the darkest of days to enjoy the light once more? When I used to wake up in the middle of the night panic stricken by what I’d started (it’s a huge responsibility), I thought of all those who were also lying awake because their heart was breaking, by comparison my troubles were of little consequence. If you had a business slogan what would it be? Celebrate life! Where do you hope to be in five years’ time? I intend for A Giving Tribute to be the first choice people make when wishing to commemorate a life that has passed. Tangible tributes fulfill a very real need and I want to see that need met by my company globally. What advice would you give to a budding entrepreneur? Boost your confidence by seeking out business advice from those who’ve been successful, so that you can bolster up the areas you feel weak in and fulfill your determination to succeed. But remember, business is only business, life is precious so take the time to appreciate it and those you love. Liz Mowatt lizmowatt@agivingtribute.com www.AGivingTribute.com www.twitter.com/AGivingTribute

What is the most important lesson you have learned in business? That I’m not just an ‘ideas person’ – by seeking out excellent business advice and having a steely determination, I can make things happen. Who or what is your biggest influence? Compassion. The world would be a much nicer place if this inﬂuenced everyone in equal measure. Who or what is your biggest inspiration? Anyone who has lost a loved one. How can you fail to

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James Caan’s EBA – Passionate about your success.

Easy Living Home Describe your business and your target market Easy Living Home is an interior design practice, which aims to make homes easy to live in. As we grow older our abilities change and the design of our homes can become a real challenge, especially bathrooms and kitchens, where even the simplest task such as taking a bath can become an issue. We design homes with built-in ﬂexibility and invisible layers of safety and support so no matter what your stage of life, your home can adapt with you and you can remain safe and independent. Our clients are both individual homeowners and house builders. What makes your business unique? So many home adaptation products provided for older people are ugly and can be stigmatising. We believe in ‘the art of the possible’, beautiful ergonomic solutions at reasonable prices. Our ‘inclusive design’ concept is based on 20 years of research studying how people use their homes and how we all adapt our houses to suit our changing abilities as we grow older. What has been your proudest day in business? Winning the Best in UK award at the UK Property Awards last November, for a showcase of inclusively designed social housing. What has been your hardest business day? As well as running the business, I am also doing a PhD in inclusive design at the Royal College of Art – the past two years have been the hardest I have ever worked! What is the most important lesson you have learned in business? Get the right advice from the right people at the right time. Who or what is your biggest influence? Prof. Roger Coleman, founder of the Helen Hamlyn Research Centre based at the Royal College of Art. As a new graduate I was invited to work for Prof. Coleman as a researcher for seven years. His knowledge and enthusiasm for design research into the burgeoning ageing population was infectious. Who or what is your biggest inspiration? Since joining the EBA I have found the mentors hugely inspiring. The tales of their own journeys into business, both successes and failures, spur me on.

Where do you hope to be in five years’ time? I hope to have established at least 10 Easy Living Home Centres around the UK, delivering beautiful and effective housing services for older people, working jointly with local authorities and primary healthcare trusts. The centres will revolutionise the face of home adaptation provision through local authorities, by offering inspirational settings and beautiful home products, to help people make their homes safe and supportive, whatever their stage of life and budget. What advice would you give to a budding entrepreneur? Illustrate your ideas in pictures; they are more effective than words. Don’t doubt yourself! Alison Wright Alison@easylivinghome.co.uk www.easylivinghome.co.uk

If you had a business slogan what would it be? ‘Be the change you wish to see in the world’ (Ghandi). You can’t expect others to change what they do, unless you can demonstrate how to change through personal example.

James Caan’s EBA – Passionate about your success.

Alison Wright

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Annabel Giles

This month we welcome you to Annabel’s Boot Camp – for unruly teenagers, and their parents Hello children, and welcome to the Annabel Giles Boot Camp for Badly Behaved Teenage Wretches. Your parents have asked me to have a word because they can’t do it themselves, they don’t want to upset you. (Can those parents at the back of the room be quiet, please? You’re behaving as if you’re on the back seat of the coach, throwing sweets and passing cigarettes to each other. Stop it at once! Thank you.) So. Here’s how it’s going to be from now on:

You must hAve friends. reAl people, not cYberchums. You must ArrAnGe to meet them fAce-to-fAce As often As possible. First of all, I am not your friend. Neither are your parents. I know they want to be, but tell them it’s like at work, right? They are your bosses, or your line managers if you prefer. And they have the power to penalise, so you need to remember that.

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Firstly you must have friends. Real people, not cyberchums. You must arrange to meet them face-to-face as often as possible. You must actually leave the house. There are plenty of coffee shops where you can nurse one strawberry milkshake between you for a couple of hours. These are the people you can share your teenage angst with. If you can’t sort it out between yourselves, you will need to ask whoever’s parent you like the most. (This will usually be the one who has firm rules, you’ll feel safest with them.) The easiest place to find friends is at school. You might need reminding that the point of school is to equip you with enough knowledge to get a great job and live a fantastic life. At school they provide you with breaks to chat to your mates, so use the lessons to find out stuff. I’ve had a word with the government, and they’ve given teachers back their power to punish when appropriate – you have been warned! I suggest you get into books; they look boring but some of them are filthy inside… If you find school is totally full of idiots like you, then may I suggest taking up a sport or [UNFASHIONABLE WORD KLAXON] hobby in your spare time? Nag your parents (you don’t need me to tell you how) to find you a basketball team, or a creative writing group or a film club or a choir or even join the Territorial Army. These clubs will be populated by non-school people and quite nice instructors, and you can try being someone else for a change. It’d be nice to have a break from ‘moody and bloodyminded’, won’t it? You could even crack a smile, nobody would find out. Sadly for you, the time has come to earn your room on earth. (This is when you get to boss your parents around, you’ll like this.) Demand that they show you how the washing machine works, as well as any other household appliances that they’re addicted to. Then stop them from looking after you as if you are a helpless baby – if you can work a mobile phone you can work a cooker. Force them to show you how to make

a cup of tea, and insist that you do this for everyone who wants one at least twice a day.

can play too. A real one, with counters and dice. I absolutely promise you, it will be hilarious.

On a similar note, may I recommend everybody eats the evening meal together, at a table, with no television or radio or music or anything else on in the background? Every day? I know it’s mad, but some of my happiest Make theM play a board gaMe memories of my family involve my daughter telling us about her teachers, with you, one that the other over dinner… Poor things! kids can play too. a real one, Also, tell them they are not ‘providing’ for you by working round the clock. They will probably disagree, so announce that actually you’d like to

with counters and dice...

play tennis/go fishing/learn karate with them to find out what kind of people they are. This may terrify them, so you have to be insistent! (Those of you from single parent families will need to do more to get more; the reason you feel so hard done by is because your parent is doing twice the job in half the time. I’m still having trouble with the government on this one; in the meantime add ‘emptying the bins’ and ‘make sure they get out more’ to your to-do list.) It’s worth bearing in mind at this point that the computer is not your main caregiver. I know it may seem like that as you spend much more time on the laptop than with your family. Here’s a completely mental idea: make them play a board game with you, one that the other kids

Finally, this is one for the parents. Grow up! You had these kids, you look after them. See them as kittens and puppies, if it’s easier. Don’t give them everything they want, give them what they need. You are not their slaves, they are lucky to have you. Ask anyone who’s been ‘in care’. And nobody is too old for a hug. I always wait for the other person to break off first. Just saying. So that’s it. Be careful, be caring, be kind. And don’t forget; we’re all on the same team. Which is why my final rule is so important. When it’s a family member’s birthday, everybody (that’s everybody) has that day off for an outing. Birthday person chooses. Now get out of my sight. I love you all, and you all love each other. Class dismissed! m

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A Vision for

Peace One Day Despite the global climate of conflict and unrest, one man is on a mission for Peace One Day

s a professional filmmaker, Jeremy Gilley started in 1999 with the original mission of creating a documentary about his efforts to create an annual day of peace. He didn’t expect anyone to listen and indeed even when his Peace One Day mission was launched at the Shakespeare Globe, barely anyone attended the ceremony. However, everything changed in 2000 when Jeremy visited Somalia and saw first-hand the atrocities of human suffering caused by war and famine. “I started this journey thinking it didn’t matter whether I created a day of peace. Filming the process was the important thing. I would have a film that would make a statement no matter what. But something happened to me in Somalia. Spending time with people there who had suffered, and who encouraged me to make the day a reality, changed everything. I knew then that I didn’t want to fail.” From then on the mission of an institutionalised day of peace truly began to take off, culminating in the unanimous adoption by member states of the United Nations of 21 September as an annual day of global ceasefire and non-violence – Peace Day.

We were gripped by what could be achieved by one man alone, and touched by the joy that is possible when communities do actually unite 120

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That was 10 years ago and since then, Jeremy has campaigned tirelessly across the globe. He has met citizens of every kind – from the stateless to heads of state. Speaking to us, we too were hooked by his passion, which is clearly undiminished even after all these years. Watching his award-winning film The Day after Peace, we were gripped by what could be achieved by one man alone, and touched by the joy that is possible when communities do actually unite. Jeremy has gained important support over the years, there are the large corporate sponsors including Dior, Coca Cola, British Airways, Innocent

Jeremy Gilley and Jude Law travelled to Afghanistan to document preparations for Peace Day

Drinks, Skype and Ocado to name but a few. Then there are the celebrities: in a chance encounter with actor Jude Law Jeremy suggested that he was welcome to join him on his trip to Afghanistan, to help develop and document preparations for life-saving activities across the country for Peace Day. To his surprise, Jude agreed and they travelled into the heart of the country, spearheading a process that led to Peace Day agreements enabling 4.5 million children to be vaccinated against polio in areas hitherto unreachable or hard to reach because of conﬂict since 2007. Jude continues to work closely with Jeremy as a Peace One Day Ambassador and in the production of live concerts whose aim it is to raise awareness of Peace Day. Last but not least, there are the countless ordinary citizens worldwide who have pledged what they will do in the name of peace. The Peace One Day website and Facebook fan page say it all. Conscious of the fact that it is the next generation that needs to be educated

about peace, Jeremy has spoken with more than 40,000 students and teachers in every continent. This has led to the creation of Peace One Day Education Resources for schools. These are free, online and now being used by 10,000 educators in more than 176 countries. The financing of the initiative is not always plain sailing, despite the backing of big players. As the campaign gathers momentum, more hands and funds are needed at Peace One Day’s head office in Richmond, England. Last year saw the launch of the Patrons Programme, which invites entrepreneurs to become patrons of the organisation. In return for their financial contributions, they are ‘repaid’ not just with a philanthropic glow, but also a programme of business leadership and networking events. “It is fabulous to be able to contribute to such a fantastic cause and to be mentored by truly inspirational entrepreneurs that I would never have met otherwise. They are genuinely interested in sharing their experience and helping us,” commented one patron.

The year ahead promises to be very exciting: the ﬁrst of a series of Peace One Day events as part of the London 2012 Festival, a concert at the O2 Arena on the 21 September 2011 will mark the 365-day countdown to a Global Truce on Peace Day 2012. It is hoped the day will see the largest reduction in global violence in recorded history – from violence in our homes, communities and schools, through to armed conﬂict. So Jeremy has shown what can be achieved. There clearly is a will among people worldwide to work towards peace. Jeremy invites us all to join him on his mission for Peace. In his own words: “If we do, they will follow. The time is now.” What could you do for peace on 21 September? By Jo Tall For more on Peace One Day, Global Truce 2012 and the O2 arena concert go to: www.peaceoneday.org To become a patron e-mail: peter.barden@peaceoneday.org

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Books of the month Our pick of the literary releases...

Published by Taschen. 416 pages. 500 Illustrations in colour. Softcover. £24.99

Interiors Now! 2 is a stunning selection of contemporary home interiors from around the globe – from Antwerp to Auckland, Shanghai to Sao Paola, Marrakech to Milan. Reflecting the design trends of the first years of the 21st century, the homes are exuberant, full of colour and art and antiques. Minimalist they are not. The homes owners are not afraid to mix and match quirky pieces from different eras. The rooms reflect the interests and tastes of the owners, ranging from urban industrial to mid-century modern, 70s disco to rustic retreat.

David Chipperﬁeld Architects: Form Matters, David Chipperﬁeld and Deyan Sudjic Published by Walther Konig. 160 pages. 130 Illustrations, 84 in colour. Paperback. £28

David Chipperfield, one of the world’s leading architects, is known for his subtle and sophisticated buildings. This book spans his entire career to date, examining projects through new and archive models, sketches, drawings and photographs. We see the range of buildings designed by Chipperfield – law courts, museums, art galleries, TV studios, housing, the list goes on. Among the projects featured are the Turner Contemporary in Margate, the Hepworth Wakefield, and the reconstruction of the Neues Museum in Berlin (winner of the EU Prize for Contemporary Architecture 2011).

Interiors Now! 2 : Edited by Laszlo Taschen

There are short essays by Chipperﬁeld introducing each section. The essays help give us some insight into his design philosophy; buildings are reduced to their key elements and a few materials, the forms are developed over time. The essays cover form, composition, language and materiality. Chipperﬁeld is as accomplished at writing about architecture as he is at designing buildings. The book was originally published for an exhibition at the Design Museum in London, and is the best survey of his work to date.

Highlights include a 19th century palazzo in Instanbul, designer Marc Newson’s London flat in a converted sorting office, and a beach house in Rio, straight out of a Bond movie. There is a subterranean house from the 60s in France, a Melbourne loft in a 19th century shopping arcade, and a spiral sea-shell house in Finland. The homes featured in the book belong to a variety of artists, architects and designers, but also a chemist, a researcher and several families. The homeowners’ diversity is reflected in the homes’ diverse looks. Packed full of stunning photos, this book will entertain, and inspire you to express yourself more at home. A great value book from Taschen for anyone interested in furniture, interior design and architecture.

Isabella Blow: By Martina Rink Published by Thames & Hudson. 192 pages. 125 Illustrations, 84 in colour. Hardback. £29.95

A book full of stunning photos and touching personal letters dedicated to the style icon that was Isabella Blow. She was famous for her outrageous fashions, and for having discovered and nurtured some impressive creative talent during her time as a fashion stylist at Tatler and Vogue in London and New York. She bought Alexander McQueen’s entire collection while he was a still a student, launching his career. She was a client and muse to the milliner Philip Treacy – known for his extravagant hats. Although not what would generally be called ‘a beauty’, Isabella was certainly striking, full of personality, and this comes across in the photos in this book. Iconic portraits have been contributed by some of the greatest photographers in fashion, including Mario Testino, Rankin, Donald McPherson and Richard Burbridge. Personal letters written exclusively for this book have been contributed by legendary names in the fashion world, from Valentino and Anna Wintour to Manolo Blahník and Naomi Campbell, and from artists such as Tracey Emin and Noble & Webster, whom she inspired. The woman who emerges from this portrait is both bold and eccentric, humourous and tragic. A truly creative individual, whose greatest creation was herself.

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Sticky Marketing: Why everything in marketing has changed and what to do about it, by Grant Leboff Published by Kogan Page. 216 pages. Paperback. £16.99

In his latest book, marketing guru Grant Leboff explains how the abundance of choice and the fragmentation of media and communications has fundamentally changed the relationship between business and consumers. Leboff’s main focus is to address the massive changes that are taking place in a world that is constantly being introduced to new technologies and an evolving world wide web. He sets out his marketing strategies for dealing with the new challenges and opportunities. The book provides a perspective on marketing today, and covers topical subjects such as social media and behavioural targeting. It is aimed at marketers and business owners, but there is plenty of interest to academics. The book is well-researched, jargon-free, easy to read and has plenty of interesting facts and anecdotes. Sticky Marketing captures how effective marketing has changed, and gives you insight on how to go engage customers and would-be customers, improve your company’s reputation, and ultimately build sales. Grant Leboff is a leading sales and marketing expert, and a regular contributor to many business magazines and newspapers.

The Shadow Market: How Sovereign Wealth Funds Secretly Dominate The Global Economy, by Eric J. Weiner Published by Oneworld. 320 pages. Paperback. £12.99

A fascinating book detailing the tectonic shift in the world’s economic power. Money, power and inﬂuence are shifting from Wall Street, the multinational banks and the G7. The new economic powerhouses look set to be the BRIC countries and other emerging economies. The new big investors are not the banks of the G7 countries, but rather a multi-trillion-dollar network of super-rich, secretive, and largely unregulated investment vehicles – foreign sovereign wealth funds, government-run corporations and private equity funds. Taking advantage of the recession and liquidity problems in the US and Europe, cash-rich nations such as China, Singapore, Saudi Arabia and Norway are using their sovereign wealth funds to buy up major stakes in multinational corporations, farmland and natural resources. Highly informative and genuinely startling, Eric J. Weiner’s account of the shift of global power is a wake-up call for politicians and investors in Europe and the US. The Shadow Market moves the conversation from ‘international competition’ to ‘global ﬁnancial warfare’, and is a must-read for anyone interested in the future of the global economy or how and where to invest your money. The book is well researched, full of interesting facts and observations. There is a bibliography for further reading. Eric J. Weiner is a business and economics writer. He has written for the Wall Street Journal, The Los Angeles Times and many other publications.

Do it! Or Ditch it: Turn Ideas Into Action and Make Decisions that Count, by Bev James Published by Virgin Books. 320 pages. Paperback. £11.99

Effective decision-making and communications are vital in business and in life. Bev James’s book tells you how to decide what is important for moving your business forward, and what is just wasting your time. The book is aimed at people just starting a business, or building an existing one. James looks at what it is that holds people back in business and life, often it’s their own fears and preconceptions that are the problem. Do it! Or Ditch it tells you how to weigh up the choices facing you, and ditch the ones that are wasting your time. The book is full of practical steps to improve your decision-making and communication skills. It is easy to read and entertaining. James is a successful entrepreneur who has built and run businesses in a number of sectors, including coaching, training, recruitment, sales and health and ﬁtness. From reading her book, it is clear that James is an extremely motivated individual, and happy to pass on the knowledge she has gained during her 30-year career. I’ve read a lot of business books, and this is one of the better ones. The book doesn’t tell you what to do, instead it gives you the tools to allow you to decide what to do. Clear, practical advice and inspiration.

Please send all new book releases and high-resolution imagery to Gordon Ross. Email: gordon@themarketmagazine.co.uk www.themarketmagazine.co.uk

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Fine Jewellery Sale 21 September 2011 Bonhams, New Bond Street A Bulgari ring featuring one of the world’s rarest stones – a blue diamond – is set to go under the hammer at Bonhams in London this September. The piece, expected to fetch in the region of £600,000-£800,000, was commissioned from the Italian jewellery house in the 1960s – a period when Elizabeth Taylor is known to have bought much of her jewellery there. It is the ﬁrst time the combined diamond and blue-diamond crossover ring has been seen at auction. According to Bonhams, it is set obliquely with a pear-shaped diamond (weighing 3.93 carats, with D colour and VS2 clarity) and a pear-shaped fancy vivid, natural blue diamond (the highest grading for a coloured diamond), weighing 3.72 carats with SI2 clarity. Blue diamonds are the purest of all diamonds structurally, with barely any impurities within their crystal lattice. They account for less than 1% of all diamonds mined. www.bonhams.com.

Global diary

What’s on where

Great British Cheese Festival 24-25 September 2011

LAPADA Art & Antiques Fair 21-25 September 2011 Berkeley Square, Mayfair A late 20th century sculptural chair by the French artist Claude Lalanne will be among the highlights at the LAPADA Art & Antiques Fair in Berkeley Square this autumn. Conceived in 1984 and completed in 1986, the bronze piece consists of sweeping iris leaves supported by an arching framework of stems and branches. The armchairs, which were commissioned by the Colonial Williamsburg Foundation for the courtyard of the De Witt Wallace Decorative Arts Museum in Virginia, have previously been shown at New York’s Metropolitan Museum of Art, the Pompidou Centre in Paris and Whitechapel Art Gallery, London. Collectors might also be interested in a rare 18th century French pocket-sized Lotto Dauphin from the Spencer family estate at Althorp. The tortoiseshell, ivory, gold leaf and lacquer piece is said to be in pristine condition, possibly unused. Around 85 dealers are set to take part in the exhibition this year. www.lapadalondon.com.

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Cardiff Castle, Wales Cardiff Castle plays host to the UK’s biggest cheese market this September. Think: local farmers’ market, but on a far grander scale. Set in the heart of the Welsh capital, the fair takes place inside the castle grounds, where hundreds of British producers set up shop for the weekend. One nice element is visitors are encouraged to taste before they buy. But if you’re not a cheese lover, don’t worry, as there will be a host of other gourmet products on offer, including an array of traditional beers, ciders and ﬁne wines. www.greatbritishcheesefestival.co.uk.

Events and Auctions

Declining Democracy

1870-CC-20-Mapes 1870-CC $20 Est. $150,000-$180,000 From the Estate of Hellen and Charles Mapes, Reno, NV Courtesy of Bonhams & Butterﬁelds

Coins and Banknotes

4 September 2011 Bonhams & Butterfields, Los Angeles A collection of ultra-rare coins from the estate of Hellen and Charles Mapes – the US hotel and casino mogul – will go on the auction block at Bonhams & Butterfields in Los Angeles this September. The collection includes a rarely seen, high-grade 1870-CC Liberty Double Eagle coin – a first issue from the Carson City Mint in Nevada, known to collectors as the rarest in that series. Having been in the Mapes Collection since its purchase at the Kreisberg-Schulman Auction at NYC’s Waldorf-Astoria in 1961, the coin is now considered a ‘discovery’ piece given the length of time (50 years) since its last offering. The Mapes Hotel and Casino, which had its heyday from the 1950s to 1970s, was the first major high-rise hotel to be built in the US after World War II. It led the way for the Nevada casino-hotels built specifically to offer gaming, guest accommodation, restaurants, bars and bigname entertainment. www.bonhams.com.

23 September 2011 to 22 January 2012 CCC Strozzina, Florence A timely exhibition that takes a critical look at the concept of democracy will open at CCC Strozzina in Florence this month. As the ﬁnancial meltdown begins to trigger deep social unrest in the West, the show explores how a new sense of revolutionary political utopia – different from, yet parallel to, developments in Europe – appears to have gained a foothold in the Middle East and North Africa. Participating artists include Belgium’s Francis Alÿs whose work entitled ‘When Faith Moves Mountains’ (pictured) is now considered a fully-ﬂedged manifesto of social art and the debate on the relationship between the individual, the community and utopia. www.strozzina.org.

© Francis Alÿs When Faith Moves Mountains, 2002 In collaboration with Cuauhtémoc Medina and Rafeal Ortega, Photographic documentation of an event, Lima, Peru Courtesy of the artist and Galerie Peter Kilchmann, Zurich

Finest and Rarest Wines

10 September 2011 Sotheby’s, New York Sotheby’s kicks off its autumn fine-wine sales at its auction house in New York on 10 September with bottles from an important New England cellar. It will be followed a few days later by its London sale on 14 September. According to Stephen Mould, head of Sotheby’s European Wine Department, the auction house saw a “solid end” to the first half of this year. He said: “We are 70% up on last year’s total for the same period, with sales in London exceeding £11 million.” Sotheby’s July auction saw a surge of interest for Domaine de la Romanée-Conti and rare vintages of Pétrus. “The first growths as a group are now closing the gap on the high prices we have seen Lafite achieve over the last two years,” added Mould. “We look forward to the autumn when we have some exciting auctions, including a single owner sale in London on 26 October valued in excess of £2 million.” www.sothebys.com.

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October Next month in

The Frieze Art Fair – Every October the world’s art dealers and collectors descend on London for the Frieze Art Fair, which showcases contemporary art by new and established artists. Featuring 170 galleries from around the world, Frieze is the must-see art event of the year. We look at the art, the people and events happening this year. Adventurer Sarah Outen – On 1 April 2011, Sarah set off on an epic worldwide roundtrip from Tower Bridge in London. She is covering two oceans and three continents, via two boats one bike, using her own human power and with no mechanical assistance. We catch up with Sarah during her mammoth bike ride across China. Energy storage: the ultimate battery – Energy may be available from an increasingly large number of different sources, but how can we successfully store this energy? Effective storage is crucial to avoid shortages and imbalances that can lead to damaging price shocks. Helen Campbell investigates. Sherry is the latest trendy tipple! – Award-winning wine writer, Rebecca Gibb, takes a look at the renewed taste for sherry. As a host of sherry bars open up in London, its image as an old lady’s drink is changing to one that’s hip and cool…. Investing in vintage fashion – With Hollywood actresses wearing vintage designer dresses on the red carpet, vintage has never been so hot, or so collectable. In recent years key pieces have been sold for tens of thousands of pounds. We examine this alternative investment trend that looks set to continue.

October issue – On UK newsstands on the 29 September 2011 Subscribe – www.themarketmagazine.co.uk

Please note, the Sebastian Conran interview that was scheduled for this month will now appear in the October issue. the market 69

advertising and marketing Creative thinking and critique from Dave Trott

DO IT THEN FIX IT crew, the sparks, the sound crew and the riggers, are standing around doing nothing. So what you’re actually doing is burning time. And after half an hour’s thinking, you’re still no closer to knowing what to do.”

Dave Trott is Executive Creative Director at CST The Gate. www.cstthegate.com

When I was a junior copywriter, Alan Parker directed one of my commercials. He was the hottest director in the UK at the time. At one point on the shoot, he came across to speak to me. He asked me how I wanted a particular scene shot. I was only a kid, I hadn’t been on many shoots. I said: “Give me a minute to think about it.” Alan said: “Big mistake.” He added: “When I started directing I learned the worst thing you can do on set is stop and think. Because when you stop, everything stops. And while you’re thinking, all the actors, the camera

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Alan could see I was confused. I’d never had anyone tell me not to think before. He said: “It usually comes down to a choice between two ways: this way or that way. And all the thinking won’t tell you which is best. So just pick one, it doesn’t matter which, and go with it. Then, one of two things will happen. Either you will find it was the right way, in which case, brilliant. You steam on in that direction. Or you realise it was the wrong decision. In which case you drop it quick and put everything into going down the other route. But either way, you now know the right answer. And what you haven’t done is wasted a lot of time thinking about it.” I’ve often thought about that advice since. Edward de Bono says the same thing in different language. He says: “The purpose of thinking isn’t judgment, it’s movement.” When we’re stuck, the first thing to do is become unstuck, fast. Like a car stuck in mud. If we sit there with our foot on the accelerator spinning the wheels, we’re not going anywhere. So the main thing to do is get unstuck. Never mind if it’s the right direction. Just getting unstuck is the priority.

Peter Wood is the man who revolutionised the insurance business. He founded Direct Line, Sheila’s Wheels, eSure, and Go Compare. He once said a similar thing to me. He said his motto is “Do it, then fix it”. In other words, don’t wait until everything is perfect. Nothing will ever be perfect. If you wait for that you’ll never do anything. Just get started and correct mistakes as they crop up. The chairman and co-founder of Nike has a similar motto. “Make sure your bow-wave is bigger than your wake.” In other words, keep moving forward. Stop worrying about making mistakes. You’ll always make mistakes. It’s not important to never get anything wrong. What it is important is to get more right than you get wrong. And you do that by movement. Fear of not having a guaranteed right answer is what keeps

It usually comes down to a choice between two ways to go: this way or that way... us stuck. We’re so terrified of making the wrong decision we don’t make a decision at all. And that is definitely the wrong decision. To read more of Dave’s blogs, visit www.cstthegate.com/davetrott

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