4. Register
A Diamond Bar Brooch Sold, Lyon & Turnbull, London, 21 November 2019, lot 17, realised £33,750 (incl. premium)
BUYING JEWELLERY AT AUCTION
Purchasing jewellery at auction gives you more for your money compared with buying at retail prices. You also acquire a unique piece with its own history; one that is more likely to retain value over time.
1. Contact Jewellery Specialists
Most jewellery specialists maintain lists of clients with interests in certain things. Wild about owls? Keen on Kunzite? There is a jewel out there for you! Having an auction house specialist keeping an eye out for you could give you an advantage. It may give you the chance to buy jewels privately instead of at auction. A conversation with a jewellery specialist can give you market insights. For example, jewellery from the 1960s and 70s is performing very well in the current
market, specifically pieces by Andrew Grima and John Donald. If you prefer to keep your passions private, you can save key word searches or interests online through aggregate websites (such as the-saleroom. com) or the auction house directly.
2. Viewing
Attending auction viewings can be an entertaining way to spend an hour or so with a friend. Viewing in person is not always feasible. Ask for more images if you are unable to view in person. Ask for any image you think would help areas of damage or wear; a person with your colouring wearing that pair of aquamarine earrings; someone wearing that amethyst ring (ask for the model’s ring size so you have a sense of scale) - you get the idea.
The specialists will prepare condition reports for items prior to the auction. These reports are typically available to download online 3. Request a Condition Report
A fire opal and diamond set pendant/brooch by Andrew Grima Sold, Lyon & Turnbull, 21 November 2019, lot 58, realised £8,750 (incl. premium)
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AMERICAN IN BRITAIN
The specialists will prepare condition reports for items prior to the auction. These reports are typically available to download online. If there is anything concerning you, or you would like more information, just ask. A condition report is a helpful document to keep with your purchase invoice. It can provide insight on old repairs to restorers or give unique identifying details about an item if it is lost or stolen.
All clients need to register to bid before the auction; and it is a good idea to allow plenty of time to register to secure your bids. Prior to placing a bid, be sure to read the conditions of sale. Find out how much buyer’s premium is payable and if there are any other charges (such as VAT or import taxes). If you are bidding through a third party (such as a dealer or an auction aggregate website) there may be a service fee. If you buy online, keep in mind that some auction houses may ship the item for you, but others may only release your purchase to an approved fine art shipper.
5. Bid
Bidding in an auction is an exhilarating experience! Bidding in person is more than just exciting; it can also give you an edge. A client bidding in the room can see if the auctioneer is taking bids from the telephone, internet or from her auctioneer’s book. This can give a better picture of the interest on the lot. If you are the winning bidder, you are usually able to pay and collect the jewellery that day, avoiding shipping costs. If you still want to be part of the action, but cannot attend in person, a telephone bid is a great second choice. Most auction houses also offer online bidding now as standard. Bidding directly with the auction house can help avoid extra fees. If you prefer to set a strict limit for yourself, an absentee bid is the way to go. With this option, you decide the maximum amount you are willing to bid; hopefully, you get it for less. Your bid is entered on the auctioneer’s book and is executed by the auctioneer. Remember that bidding in the sale is a contract between you and the auction house. Kate Flitcroft E: Kate.Flitcroft@lyonandturnbull.com
