Lancaster auction house is a family affair

DENVER – Dan Morphy’s father, a physician by training, never really wanted him to be a doctor.

But it took the younger Morphy a couple of years pursuing a pre-med degree and some early successes in the antiques business to realize that the passion he shared with both parents would be his true calling.

The Morphy family dabbled in antiques for years, dealing early toys, turn-of-the-century glassware and other collectibles from two rented showcases in Lancaster County. He remembers restocking the shelves on the way from their Pittsburgh home to the New Jersey shore each summer.

By age 10, Morphy had joined in the family pastime, selling marbles and baseball cards at first and working up to early advertising and mechanical banks by college.

“I was buying and selling,” said Morphy, whose appreciation for vintage signs is still on display at the Denver headquarters of Morphy Auctions. “That’s the best way to learn. Sometimes you lose, but you learn.”

Modest to largest

Waiting for an Adamstown stand owner to open her shop one day, Morphy noticed a different kind of sign: a build-to-suit ad for an empty lot on Route 272.

Twenty years later, Morphy has transformed the modest dealer business he envisioned that day into the nation’s largest firearms auction house, one that also sells thousands of other rare and valuable collectibles in a total of 12 dedicated divisions.

His base remains the North Reading Road facility, which has doubled in size three times to hit 80,000 square feet, about three-quarters of that set aside for storage. The business also has expanded to accommodate the increasing presence of online bidders and attract new customers at a 4-year-old Las Vegas location.

This week, Morphy Auctions in Denver will host two of its biggest auctions of the year. On Wednesday and Thursday, buyers from across the country will bid on art glass lamps, fine jewelry and silver, including a high-end trophy collection expected to net $1 million.

Firearms sale

And June 25-28 will mark the first James D. Julia/Morphy firearms sale, with more than 2,300 antique handguns, rifles and shotguns up for bid over four days. Up to 150 likely will attend the live event, along with plenty of competitors dialing by phone or online.

One piece of note is a Winchester model 1866 commissioned by Oliver Winchester himself for Philadelphia’s 1876 Centennial exposition. Featuring eight vignettes in metal relief work, it’s believed to be just one of 11 made, and firearms expert Tony Wilcox expects that it could draw $350,000.

“The designer, Conrad Ulrich, got carried away,” Wilcox said. “There are even lion paws. It’s the only one known like that.”

After acquiring the Maine auction house James D. Julia last year, Morphy, president of the firm bearing his name, expects his annual sales to jump from $35 million to $70 million by the end of 2018. In preparation for the June sale, he brought $10 million worth of antique weapons into the highly secure gun room.

Investors wanted

But in a changing antiques market, rarity isn’t enough to ensure that an item will sell. Even an exquisitely made piece such as a Winchester or a Tiffany lamp needs an investor, especially in an industry that has been irrevocably altered by the internet.

Potential buyers today can gather more information about pricing and comparison shop thanks to the web.

“You can do appraisals until you’re blue in the face, but it’s only worth what someone will pay for it,” Morphy said.

When they do buy, it’s almost always with an eye toward appreciation, not necessarily just passion, Morphy said.

That said, he has embraced the web as a way to introduce more buyers to his business. Every item is meticulously detailed for online shoppers who might not be able to hold a piece before buying. Morphy also accepts bids via four online platforms, including one Morphy’s team developed itself.

Despite all the changes over the years, selling collectibles remains a family affair.

His parents moved closer to help run the operation. John Morphy, retired from medicine, works in the showroom four days a week. Janet Murphy works as a clerk during live auctions.

“They both come in for every single sale,” Dan Morphy said.

Contact Kimberly Marselas: 610-371-5049 or money@readingeagle.com.