Michele della Valle Online Results: How Sotheby’s Fared in this New Venture

Sotheby’s first online auction dedicated to a single designer, Michele della Valle ended last Monday. In this post I will look at the results of the auction and what can be learned.

Non si può mai attraversare l’oceano se non si ha il coraggio di perdere di vista la riva.

The above saying in English is: You can never cross the ocean until you have the courage to lose sight of the shore.  That saying feels right when talking about the recent online fine jewelry auction held by Sotheby’s.  I will look at the sold versus unsold items and their statistics as a whole, then break it down by type and finally look at some individual pieces that did well at the auction. Also read my predictions and thoughts before the results here.

Sold vs. Unsold (All)

Out of the 111 items designed by Michele della Valle for this online auction only 66 sold. The percentage was 59% sold, 41% unsold. So over half meet the reserve and were sold. The items bid on meet reserve, but what were some of the basic statistics like average dollars of the sold item or number of bids? Below is a table answering that. Note dollars in Swiss Francs (CHF).

The average item sold for 7,884 and had about 6 bids. The most frequent price that sold was 7,500 and the lot had only 2 bids.

To get more detailed we need to look at the results by type.

Sold vs. Unsold (by type)

Above is a table with the counts of lots by type. Earrings were the biggest category at 44 out of 111 lots, next were brooches, then rings. Rings did very well, all but one lot were sold. A table below looks at it by percentage.

Only 38% of brooches sold, earrings saw 32% of their lots unsold. I’m looking more closely at types with ten or more lots to get a better feel of the category. I also looked at the min/max dollars for the sold lots.

Earrings had the largest range, going for as low as 3,000 CHF up to 27,500 CHF.

So, what were some of these high priced items?

Lot with the highest bid

That was a pair of earrings, lot 22, that sold for 27,500 CHF

Lot with the most bids

Lot 14 that had 24 bids, a blue topaz ring.

Piece highest above estimate

There are pieces that are unexpected in what they go for. In this auction a few types did better than others. A table with the break out below.

The rings did the best overall, being 1.6 times higher than the estimates. Earrings were next at 1.33 times. The piece that did better than estimated was lot 97, a pair of earrings that sold for 8.2 times above what Sotheby’s estimated. The final price sold was 21,500 CHF. The estimate was between 1800-2600.

Final thoughts

Obviously, the sale could have gone better, more pieces sold, bids higher, etc. Sotheby’s did a lot right in promoting this auction; they put the auction in their emails and had a video highlighting some pieces. What do I think they could have done better? Educating people on who Michele della Valle is and why his work is something that should be collected. Town and Country just put out about designers to collect, giving some context to where the market is going.

 

From my quote above, somethings you take those risks and swim out alone. Sometimes those risks work out and other times you need a life guard to steer you to a better path. If you are looking for some guidance in your small business strategy send me an email (data.inthe.rough@gmail.com). Let me know what you’re thinking of trying or challenges you are facing. Until then thank you for reading and I hope you return soon for more Data in the Rough!

Summertime Jewels: Analysis of Sotheby’s Online Auction

Summertime Jewels: Analysis of Sotheby’s Online Auction

Summer has its moments but I’m excited for the Fall auction season to begin! While I wait there are a few auctions happening now. I ran across an article the other day on Sotheby’s website about their Specialist Picks: 10 Stand Outs from Jewels Online. The jewels on auction belonged to Marjorie S. Fisher. For this post, I want to look at a few key points to learn more about the items on auction. Look at Sotheby’s top picks and then give you 5 of my favorites.

The auction as a whole

What to know:

  • 99 lots total
  • 18 are marked by a designer
  • 81 do not have a designer identified with it
  • Over 60% are estimating to sell between $5,000 -$12,000
  • Range of estimates $3,000-$60,000

Graph breaking down the types of jewelry by count of lots.

The biggest surprise is that only 1 ring is for sale. A colored diamond ring that is a top pick of Sotheby’s. Not sure if that is intentional or not. Besides that, the variety is very good in my opinion. Mrs. Fisher had an amazing collection so it is not hard to pick a great piece from all the options. So let’s see what the specialist picked!

Sotheby’s Picks

A nice variety of pieces but a little heavy on the diamonds and price. Two of the picks are estimating to go as high as $60,000 (the 2 lots at the end, 96 & 99). It is a good start for building a solid collection but Mrs. Fisher had some fun pieces that should also be considered.

My Picks

I went for more warm colors. It is summer! Corals, citrine and gold caught my eye. The Michele Della Valle coral and diamond necklace (lot 2) is all you need with a great summer dress to go out for evening events. My favorite piece is at the end, Lot 40 the Egyptian inspired ruby, emerald, sapphire, enamel and diamond brooch! Very unique even among Mrs. Fisher’s items.

The auction ends tomorrow so bid now! If you saw another item that you really liked but is not listed above please comment below and return soon for more Data in the Rough!

Joan and her Jewelry

Joan Rivers style was best described by her daughter Melissa as a ‘maximalist, more is more’.  My memories of Joan Rivers, the celebrity were her larger than life style choices, her choice words and her fashion! Joan was doing standup, working on Fashion Police, publishing books, winning on the Apprentice…the list can go on.

Joan_celebrity_photos

This is only the one side of Joan that she showed to the world. She had another as a mother and grandmother. So when she passed away about 2 years ago, her daughter, Melissa, took the time to go over the estate and share her memories of her mother through the collection shown at Christie’s Auction House in New York City. The auction of her more expensive pieces is tomorrow but an online auction is going on now until the 23rd of June. I got to see a few pieces from her collection when visiting Christie’s a few weeks ago.

After getting a glimpse into her tastes and interests I found that even though her fashion style was not really my taste much of her jewelry was. I will highlight 3 designers from her New York auction and then look at her online jewels.

In March a small sample of her items were displayed to announce the upcoming auction in the summer at Christie’s. I glanced at some of her furniture and knick knacks and came across these beauties by none other than one of my favorite designers ever, Faberge!

Faberge

faberge_jewelry

The Star Sapphire pendant and Chalcedony brooch in the center were the pieces I saw in person, my photos were not too good, but the Christie’s photos show some of the detail. A fun fact about Joan she was a Faberge collector! To Joan, Faberge is what came to mind when you thought about the ultimate luxury. Joan and her family were of Russian descent so it is not surprising for that to be an aspirational brand to own. Another set of Faberge pieces I loved seeing were the picture frames.

faberge_photos

The frame to the left is of Joan and Melissa, the man in the center frame, any guesses? That is Vincent Price (Melissa’s godfather) and the woman is her godmother a Hollywood star that I did not find the name of. These photos are what was actually in the frames that Joan used. Why not? The history is an aspect Joan loved as well as the beauty. Christie’s found a record of the lavender pillbox below belonging to Dowager Empress Maria Feodorovna, mother to Nicholas II the last Czar of Russia. Grandmother to Princess Anastasia for those that are familiar with the animated movie starring the voice of Meg Ryan.

faberge_objects

The Lily of the Valley bowl to the left is the highlight of the Faberge collection in the exhibit. This rare carved nephrite stone designed with rose gold, pearls and diamonds is estimated to sell between $200,000-$300,000.

For more articles that I have written on Faberge click here.

 

Iradj Moini

Another designer Joan often wore was Iradj Moini. He is a fashion jewelry designer based in New York who has been in business since 1989. He had previously worked for Oscar De La Renta. His work was featured in the Metropolitan Museum of Art in 2006 for Iris Apfel’s exhibit. I had not heard of him but Joan seemed to enjoy his work.

IM_jewelryOne of the photos above shows Joan wearing the red beaded necklace on the far right.

 

Cezua

I saw this necklace in the exhibit and had to know more…

Cezua_pearl_necklace_live

This is a massive necklace all made with freshwater pearls. The center gem is a large amethyst surrounded by blue and orange topazes with diamonds. The designer Cesar Lim (Cezua was his nickname as a kid) graduated from the Fashion Institute of Technology in New York. He started out in fashion design working at houses such as Anne Klein then transitioned into jewelry. He opened his first gallery in Beverly Hills, CA in 2009. That necklace is estimated to go between $3,000-$5,000.

Click here to go to Christie’s to see more of her private collection.

Online Auction

For those wanting a different style and a lower price point then check out Joan’s online auction. I was surprised again at her variety, online had more art nouveau, antique jewelry and chunky beaded necklaces.

See below for the antique and art nouveau pieces I found stunning.

Art_brooches

These brooches range from high estimates of $1,500 to $6,000. The price is high but the quality and uniqueness is where the value in these pieces would be for me.  Also the proceeds will go to charities Joan was involved with. To see more click here to be directed to her online auction. So go over to Christie’s and take a look at these treasures! Below are photos from the small exhibit I saw of her items. Please let me know your thoughts on this collection or Joan! Don’t hold back, you know Joan wouldn’t!

Joan_exhibit