Crap Choice? Gerald Ratner a key speaker at Propertymark event

A keynote speaker at the upcoming Propertymark One event is Gerald Ratner.

In 1991 Ratner - then chief executive of a down market jewellery firm called Ratner Group - said during an after dinner speech:  “We do cut-glass sherry decanters complete with six glasses on a silver-plated tray that your butler can serve you drinks on, all for £4.95. People say, ‘How can you sell this for such a low price?’ And I say, ‘because it's total crap.’”

He then went on to say that one set of Ratner earrings cost less than a prawn sandwich at Marks and Spencer, adding: “I have to say the sandwich will probably last longer than the earrings.”

As a result of Ratner’s comments the value of Ratner Group fell some £500m; Ratner himself was sacked in 1992 and the following year the group changed its name to Signet.

Now well into his 70s, Ratner makes a living from telling other about his mistakes and the lessons that can be learnt from them.

Also at Propertymark One will be Olympic gold medallist Dame Kelly Holmes.

Since retiring, Dame Kelly has inspired others with her charity work, setting up the Dame Kelly Holmes Trust in 2008, aimed at helping disadvantaged young people with education and employment opportunities. She is also passionate about raising money for mental health.

Propertymark One takes place at Wembley Arena on June 27.

The trade body says the event “is going to break down barriers, bringing together property professionals from a range of disciplines, who will get the opportunity to hear from experts across different sectors including sales, lettings, auctions, commercial, tech and legal.”

Jason Lee, Propertymark’s Commercial Relationships and Events Manager, comments: “We can’t wait to hear from a range of leading industry professionals and keynote speakers at Propertymark One in June and delve into their expertise.

“Property professionals will be able to immerse themselves in a range of different topics, as well as learning from people like Dame Kelly Holmes and Gerald Ratner about their experiences in their various industries, and how they have overcome adversity to further themselves in their professional careers.”