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In addition, Christie’s regularly checks in with clients for whom the house has done insurance or tax appraisals. Or it could be as simple as following the trail of an interesting piece that you know belongs to a certain person, Abeles says. Often, the auction house gets a lead from another department - for instance, when a customer originally calling to sell artwork also has jewelry they are thinking of consigning. “Sometimes someone is at a cocktail party, meets someone else, they have a conversation, and it plants a seed.” “Sometimes it’s very organic,” relates Susan Abeles, head of jewelry for the Americas at Phillips. Other jewels come through recommendations from clients who have previously sold pieces with the company. “We’ve actually sourced some very significant consignments through that platform,” says Daphne Lingon, head of jewelry for Christie’s Americas.Īll the auction houses have relationships with trust and estate lawyers, bankers, and other representatives, who get in touch when they have available lots. Sotheby’s and Christie’s also offer online auction estimate requests, where customers can upload an image and a short description of their jewelry. Many see walk-in customers, or get emails and phone calls from potential clients thanks to advertising and name recognition. While O’Connor has sealed deals over oyster-and-champagne brunches at clients’ homes, there are a number of other avenues by which auction houses acquire the pieces for their sales. So oftentimes, selling it is just the cleanest way of maintaining the family relationships.” I mean, we’re talking about inheritance, and if you have multiple heirs who all want a piece of jewelry, everyone can’t be wearing the same ring at the same time. But the other thing - and I tell this to clients all the time - it’s a lot easier to split a dollar than it is to split a diamond. “One of them is lifestyle - if the child doesn’t have the same lifestyle as the parent, and the jewels aren’t going to be worn. “I think with inherited jewels, there are usually two big motivations,” he elaborates. It’s the three Ds: debt, deathīruning agrees, noting that while jewelry is absolutely emotional, it can also be contentious. “This is not exclusive, but a general rule of thumb. “There are three main reasons why people sell jewelry,” O’Connor says. The very fact that jewelry owners form such emotional attachments to their pieces, of course, begs the question of why they would choose to sell in the first place. “We want clients to feel comfortable with the decision they’ve made and that the piece that spoke to a specific moment in their life, or their family’s life, is going to be owned by somebody else.” They sell million-dollar paintings all the time, but they don’t want to sell a $10,000 diamond ring that’s been sitting in the vault for years because it’s their mother’s engagement ring.”īruning says he would much rather a client sell years too late than a day too early, because once a piece is sold, it’s gone. Moving on from that, selling that, is an emotional proposition. “It always has a story, and it is typically given at really great moments in one’s life. “Jewelry is really intimate, deeply personal and emotional,” Bruning explains. A lot of it is about a client’s comfort level. The reason procuring certain goods can take so long is that the auction business is built primarily on relationships. Then there are times where you might have one meeting with the person, and they say, ‘I like you, I trust you, let’s do this.’ You never know if it’s something you’re going to pursue for years or 10 minutes, you shake hands and you’re done.” “Sometimes it can even be a decade or more. “Sometimes it can be years, I mean years and years and years,” he says. He’s currently pursuing a collection that has been in the works for six years.
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Quig Bruning, vice president and senior specialist in Sotheby’s jewelry department, also has experience with chasing elusive consignments. It was more about her getting to know me and trust me.”
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To visit the owner 12 years before she passed, and it was a long process. “I worked on the royal Bourbon-Parma collection for many, many years,” says Brett O’Connor, senior international jewelry director for Bonhams. While the sheer number of pieces may lead onlookers to believe sourcing them is easy, jewelry specialists can often spend a decade or more finessing their way to a coup this important. Spectacularly expensive, strikingly beautiful, extraordinarily rare and historic jewels appear with stunning regularity at auctions around the world and online.