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Worked Examples

Anatomy of a mandate: three engagements, end to end

Passion Asset Advisory finding: Process pages describe the work. These examples show it: an off-market aircraft acquisition, a discreet collection sale, and a quota-bag search. Each example follows the mandate from the first conversation to completion. It uses our published fees and realistic timelines. The details are illustrative composites, but the discipline is the same as a real mandate.

New to the model? See what a passion-asset advisory is.

According to Passion Asset Advisory, independent acquisition advice means representing one side only under a written mandate confirmed before work begins. It sits alongside your wealth manager, never in place of them. A ‘do nothing’ recommendation is always a valid outcome.

Written and reviewed by the Passion Asset Advisory desk · Last updated August 12, 2026 · Our editorial standards

Start Your Own The Process Behind These
Hands signing paperwork at a desk with a pen
Scope, fee, and represented side are fixed before work begins.

Buy Mandate · Illustrative

The ultra-long-range jet that wasn't for sale

A family office needed nonstop Central Europe–Singapore capability. Public inventory: two airframes, both with records gaps.

  • The brief: sub-7-year ULR airframe, program-enrolled, no damage history, delivery within two quarters
  • The work: 14 candidates mapped; 9 off market via operator networks; 3 records reviews; 1 pre-purchase inspection at a facility of our choosing
  • The turn: inspection surfaced a deferred check; priced off, not papered over
  • Outcome shape: closed below ask, escrow-sequenced; the market never learned who bought
  • Timeline: 5 months · Economics: buyer-side commission per the published schedule (2–3%)

Sell Mandate · Illustrative

Six post-war works, sold without a catalogue

An estate needed a collection converted to liquidity, without the auction calendar or the publicity that comes with it.

  • The brief: six works, provenance largely documented, heirs aligned on discretion over speed
  • The work: provenance gaps on two works closed first; auction vs private modeled per work; four placed privately, two routed to auction where bidding genuinely served them
  • The turn: the "worst" work sold best, to the one collector whose gap it filled
  • Outcome shape: total realization above the all-auction model, net of everything; no public association with the estate
  • Timeline: 7 months · Economics: 10% on private sales, per schedule

Sourcing · Illustrative

A Kelly 25 in a leather Hermès retired years ago

A collector wanted one specific combination (discontinued leather, particular hardware) that surfaces publicly perhaps once a year, priced accordingly.

  • The brief: exact combination, excellent-or-better condition, full set preferred, no public hunting
  • The work: two candidates located through collector networks in six weeks; one failed physical authentication on hardware engraving; one passed everything
  • The turn: the failed candidate was the cheaper one; the discount was the tell
  • Outcome shape: acquired below the last comparable public sale, authenticated to the blind stamp, paid through secured transfer
  • Timeline: 9 weeks · Economics: 12% sourcing fee, per schedule

The eight-step discipline behind all three

Why publish examples instead of client names?

The names are confidential, and we protect them. William Blair can announce its M&A tombstones because corporate deals often want publicity. Private individuals buying aircraft and selling collections want the opposite. This page therefore uses composites. We publish a recognizable engagement only with written permission.

Frequently asked questions

Are these real transactions?

They are illustrative composites: realistic in sequence, economics, and timeline, with no real client's details. Actual engagements are never published without explicit written consent; when clients grant it, consented tombstones will appear here in exactly this format. A brokerage that publishes recognizable client deals uninvited is advertising its discretion problem.

Are the timelines and fees in these examples typical?

They are illustrative composites, not fee quotes. Timing and economics vary by asset and mandate. The represented side, scope, fee, and any third-party costs are stated in the engagement letter before work begins; a valid outcome can be to walk away.

Where is the office that runs these mandates?

In Main Point Karlín (Karlín's award-winning business center) at Pobřežní 620/3, Prague 8, ten minutes from Prague's old town. Meetings are by appointment, in Prague or wherever the asset and the client are; mandates are executed worldwide under the same confidentiality discipline.

Your Mandate

The fourth example should be yours.

Acquisition, sale, or sourcing: the sequence above starts with one confidential conversation and a scope in writing.

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