"The acquisition of our company by Heritage is a natural fit with advantages for all stakeholders," said Greg Martin, a founder of Greg Martin Auctions.
"We tap in to Heritage's greater strength, reach and access to achieve more significant results in the future, while Heritage gains immediate expertise and exposure in the arms & armor segment through our past successes and the long legacy of our team.
"Moreover, thanks to our shared business values of high quality and customer service, both buyers and sellers will benefit as well."
Heritage also expressed the view that the acquisition fits well with the company's steady expansion over the last decade.
"Fine firearms is a market we've been looking to increase our reach for quite some time, just waiting for the right opportunity," said Steve Ivy, co-founder of Heritage. "With that goal in mind, this situation is ideal.
"This association with Greg Martin allows us to expand our portfolio and product offerings in a key market segment with a leading company, further enhancing our presence in the marketplace and providing increased opportunities to collect and consign for our valued clients."
Greg Martin Auctions was founded in 2002 by Greg Martin, John Gallo and Bernard Osher, the same management team that built at Butterfields & Butterfields (now Bonhams & Butterfields) into the world's largest department of antique arms & armor, a position it held for decades.
Greg Martin and staff will continue to work in the San Francisco offices. Live firearms auctions will be conducted at the various Heritage offices in Dallas, New York and Beverly Hills.
Heritage Auctions first official event under Greg Martin's guidance will be a July 30, 2011, Internet-only Firearms auction, offering more than 700 estate arms and historic arms via an online catalogue and online bidding.
Watch this space for more news on the exciting sale.
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