Value My Stuff's Patrick van der Vorst: Why I said yes to investment on Dragons' Den

Patrick van der Vorst, Deborah Meaden and Theo Paphitis

Patrick van der Vorst appeared on Dragons' Den in 2010 and secured a £100,000 investment in his antique valuation business Value My Stuff from Deborah Meaden and Theo Paphitis for 40% equity. He explains why he appeared on the show and the benefits received.

Why did you decide to appear on Dragons' Den?
The main purpose for going into the Den was of course to get the investment, but also to show the product to a very large audience. Both objectives were achieved by gaining £100,000 investment from Theo Paphitis and Deborah Meaden.

The day after the airing of the programme, we received a staggering 3,000 emails. So from that point of view it is certainly very worthwhile doing. However the boost one gets from the programme is short-lived. After a month, business is back to normal, at higher levels yes, but the mass interest is slightly gone. Hence it is crucial that one gets the right investors in order to continue the momentum that the programme brings.

Between filming the programme in May 2010 and my episode airing in September 2010, we completed the due diligence process which was very straightforward. From what I have been told, quite a few deals don't go through at that stage with many of the contestants changing their minds and not wanting to proceed with the deal because their business has received enough of a boost so that the Dragons' involvement is not necessary anymore. How wrong they are! As I mentioned, the TV appearance boost for the business is short-lived, and having the dragons involved certainly helps to continue the momentum and produce more positive marketing and PR.

How much are the Dragons involved in your business?

They are very involved indeed. We liaise, email and talk on a weekly basis, which is great. Both Deborah and Theo have shown a real keen interest in Value My Stuff. I think this is because they very much believe in the business, its potential and scaleability, but also due to the fact that dealing with an art-and antique related business is great fun! There isn't a week that goes by, where we haven't discovered an interesting object. We currently value between 200 and 300 items per day and amongst the mix there are always some great finds. We've discovered a Monet painting for £1m, a 1911 gold ball for £5,000 and a Medieval chastity belt at £3,000.

Why did you give up 40% of your business?

Yes, it was very much worth it. The simple answer is basically is that it's better to have 60% of 1,000 than 100% of 200. Also, one feels less isolated and alone in the whole experience of starting up a business and one can move much faster without having to learn the hard way. For example, we are currently launching Value My Stuff in China and without the Dragons' involvement this whole process would have taken much longer and without the same zeal and focus.

I watched the first episode of the new series of Dragons' Den with great interest and I have to say that my heart was pounding when I saw the new wave of entrepreneurs walk up those stairs. It certainly was one of the scariest moments of my life arriving the top of the stairs and seeing the five dragons in front of me, taking a deep breath, starting the pitch and slaying two dragons in the process! Will you be next?

Value My Stuff's Patrick van der Vorst: Why I said yes to investment on Dragons' Den

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