HANG on to your Wedgwood, a local auctioneer is advising.

Martel Maides auctions director Norman Wilkinson said the possible demise of the 250-year-old company could spark a surge of interest in the china.

It was announced this week that Waterford Wedgwood had gone into administration.

Mr Wilkinson said the ‘Ikea generation’ who bought ‘cheap and cheerful’ products was partly to blame.

‘People would rather spend £100 on something which might last for 10 years rather than investing in something that would last a lifetime.

‘The craftsmanship of Wedgwood is world renowned, but nobody is worried about quality any more.’

He said that, in the short term, more modern post-war Wedgwood items would not go up in value, but a renewed interest in the product could develop and pottery ranges such as the Wedgwood Fairyland Lustre ware were highly collectable.

A piece like the one pictured could fetch more than £5,000 at auction.

‘Martel Maides has sold some pieces like this in the past, but they are extremely rare,’ he said.