Young’s Auctions was established on its present site of 229 Camberwell Road, East Hawthorn in 1930 by David’s grandfather Ernie Young.
Son Bill continued the legacy from the late 1950s to the late 1980s before David and his older brother Ian took over the business.
Undoubtedly an icon within the auction industry, Young’s Auctions has seen massive changes over the years.
“In the 1960s and 1970s, Young’s dedicated one section of the premises as its ‘investment corner’ where it displayed blackwood, oak and maple furniture from the 1920s,” David explains.
“Demand for furniture continued to be strong until around the Bicentennial of 1988 when people aspired to own a house full of antiques.
“In those days, vendors would obtain five or six auction house quotes before making a decision, knowing they owned something worthwhile.
“These days, younger vendors just want to get rid of it and don’t care how much it is worth.”
David sees a strong future for auction houses but believes buyers will concentrate on quality items and purchasing more individual pieces.
“For example, it is easier to sell a $25,000 diamond ring than it is one worth only $5000,” he says.
“Gone are the days (mid-1980s) when we auctioned a number of shotguns and .303s belonging to State Trustees – even the weapon that belonged to the Silver Gun Rapist.”