As summer comes to an end Fall auctions are fast approaching. Instead of the auctions taking place around the world more auctions of Fine Jewelry are happening online. Read more to see how Christie’s and Sotheby’s are adapting to the change in technology and what this means for the public.
I don’t go too often to New York in the Summer, it’s hot, crowded and the jewelry industry slows down over this season. What I do look forward to is my treks up to the Big Apple to see some major bling in the Fall.
In 2016 I went to both Christie’s and Sotheby’s for their September Fine Jewelry Auctions. Christie’s had a preview of their online jewels and the Private Collection of President and Mrs. Ronald Reagan, that was sold in NYC.
A few highlights from Mrs. Reagan’s Collection:
Sotheby’s had plenty to see too. With previews of upcoming auctions happening in London and New York.
A few highlights:
Last year neither auction house had previews in NYC. Sotheby’s had two auctions in London, one their Fine Jewelry and the other the collection of actress Vivian Leigh. I took a closer look at that auction in my previous post here.
Christie’s had one jewelry auction, but it was online in September 2017. This year again no September auctions that occur offline for these two auction houses. Sotheby’s has one general fine jewelry auction, one that is selling loose diamonds and the last highlighting one Italian designer. All these auctions occurring online.
Is this a trend that will continue?
Yes, I think more auctions will be having an online presence. Sotheby’s has also tried removing the buyer’s premium to encourage people to try online with out the hidden fees. I am anxious to see how the auctions do with collectors and how smaller auction houses will adapt.
How will this affect the way jewelry is previewed at auctions?
I still think their will be previews and auctions to see the items and handle them. It is very difficult to take size into account when looking online and some gems like opal are hard to get good photos of.
For those that post on social media and blog I think that a time will come that your following and status will play a bigger part in getting to participate in the previews. For now, I have an auction preview in Boston at the end of the month I plan to go to and I’ll be heading to NYC in October not for a preview but for a fun trip that I will share later.
Return for more on the upcoming online auctions and other topics in the jewelry industry dealing with business and marketing. Thank you for reading my article.