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company history
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MICHAEL
BLOOMSTEIN
30 Gloucester Road, Brighton, BN1 4AQ
Tel: 01273 608374 Email:
info@bloomsteins.co.uk |
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Company History
Dealing in precious metals has been the Bloomsteins’ family business
for four generations. The family background was specifically in
antique silver and silver plate, rather than bullion. Michael
Bloomstein’s father and uncle were in the Pall Mall Safe Deposit and
later in the Bond Street Silver Galleries.
Michael began his career in the late 1950s in the antiques world,
starting with antique furniture at Bolson’s of Westbourne Grove; but
when he found that furniture was too heavy, diverted into buying
smalls and silver plate. His father’s suggestion that he buy and
deal in scrap silver and gold was to become his niche, with London
and Brighton as his two spheres of activity.
In London in the late 1950s and early 1960s, Michael worked from the
markets (Bermondsey, Portobello, Cutler Street and Cheshire Street)
before renting an old warehouse at Bermondsey Square which he named
the Bermondsey Antiques Centre. He continued dealing generally in
antiques throughout the 1960s but by the 1970s most of the business
was in scrap gold and silver. Michael became known as the Man with
the Tin because he was operating without an office, just carrying
around a small steel toolbox that the scrap precious metals would go
into. The offer of an office above antique dealer Michael Dawes’
warehouse brought Michael down to Brighton in 1979, and his
customers followed him.
Soon afterwards he was introduced to the director of a large bullion
house and within a comparatively short time of trading sufficient
trust was built up for Michael to be granted the facility to sell
gold forward (fixing at the current spot price against future
transactions to hedge against potential price fluctuations); this
was to prove of great advantage to him as it protected him from the
extreme volatility which prevailed at that particular time, and left
the business unaffected when the price crashed after the Bunker Hunt
debacle of the early 1980s. Michael’s business continued trading
throughout the period and successfully rode out the crash.
In 1983 Bloomsteins
acquired the premises at 30 Gloucester Road in the North Road Lanes
area of Brighton. Staff were taken on and trained to assess parcels
of scrap gold and silver at the counter and make immediate payment.
The business was expanded considerably by the introduction of a
secure and insured postal package service in 1986.
As a natural
progression of the acquaintance the firm made with many working
jewellers in the course of recovering and purchasing their scrap
gold, it was decided that we would hold stocks of new material such
as gold sheet and wires to supply to jewellers’ workshops, and this
activity has now been expanded to include colleges, universities and
individual students.
Bloomsteins are now
responding to increasing approaches by prospective buyers of gold
bullion who have become disillusioned and concerned by the recent
near-collapse of the financial system, and who have decided to put
their money into a tangible asset which can be traded worldwide.
Today, Michael
Bloomstein Precious Metals offers a comprehensive range of new metal
(gold, silver and platinum), wire, Sheet, Colletts and Bezelstrip,
and a wide variety of jewellers’ accessories and jewellery, as well
as fast accurate assessment of precious metal in person or through
the Security Package service. |
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