When buying at a fine jewelry auction, there is much to consider. This blog post will highlight everything that buyers and sellers need to know about purchasing and help them ensure they get the item they are interested in or sell their jewelry for the best possible price.
For Buyers
Always Register Early
If you are interested in bidding on a piece, you should register early. Rather than wait for spots to be filled or risk missing the deadline, register as soon as you know you will be bidding on an item. Not doing this early could leave you disappointed. This is especially true if an item is highly coveted. After all, a highly sought-after item will most likely have more than one eager buyer hoping to purchase it.
Be Patient
Rather than making a bid on an item as soon as it comes up, you should wait to find the perfect piece that you are interested in. Furthermore, when that perfect piece comes up, it can be helpful to wait and see how the bidding goes instead of jumping in right away. You don’t want to get caught up in the excitement of the moment and pay more than you’re comfortable with for a piece.
Not only should you be patient during the bidding process, but you should also do your homework before you step into the auction house. Visit multiple auctions and retail stores to get a sense of how many pieces like the one you’re interested in usually go for. This will help you ensure that you’re getting the right piece and prevents impulsive spending on other items.
Assess the Quality
The quality of jewelry put up for auction can vary. To ensure that the piece you are interested in is what you’re looking for, carefully assess the gemstone, condition, and material from which it is
made. Inspecting the piece before purchasing it can help you determine how much you should realistically spend on it. Careful inspections can also help you spot items of lesser quality, helping narrow down the search for a piece worth investing in.
Browse
As mentioned above, jewelry is commonly sold at an auction. This is especially true here in Dania Beach, FL. Most auction houses here have a constant stream of new pieces. So, rather than looking at one location, you should check multiple locations to find the perfect piece. We also recommend checking back to a particular location frequently as they may have replenished their stock or gotten in new pieces.
Learn About the History
One of the major draws of buying jewelry auctions is learning the history behind purchasing the piece. This can give you a wonderful story to tell about the piece. Understanding the history can also help you identify how the item was treated, the era it was designed in, and who it was worn by. Knowing this can be a major attraction for consumers looking for the story behind their goods.
For Sellers
Know the Product You’re Auctioning
Before setting an item for sale, make sure you know exactly what you’re selling. There’s no better way to do this than with a professional appraisal from an expert like Joshua Kodner Galleries. Since we specialize in jewelry auction valuation, we can give you a good idea of what your item is currently worth on the open market.
Keep Your Expectations Realistic
Whether you decide to sell your piece at an auction or to a private jeweler, please remember that you typically won’t receive its full retail value. Any piece of jewelry is only worth what someone will pay for it in a given venue. A private jeweler will want to maximize profit on a resale, and the auction buyer will look to pay as little as possible. Therefore, check online and in-person jewelry auctions to see what similar items are selling for before getting your hopes up.
Trust the Pros
Make sure you’re selling through a reputable auction house such as Joshua Kodner Galleries. We have years of experience with antique jewelry auctions. We can help you establish a market and find buyers for your item. We are licensed appraisers.
Be Clear on the Commission Policy
All auction houses work on commission to make a profit, but not all of them are as transparent about the process as Joshua Kodner Galleries is. Once the consignment or sale is done, we give you a check then place it at auction. Our commission covers the whole cost of both the auction itself and the marketing of your item, although we do charge a small fee for insurance.
Expand Your Audience
These days, online auctions are the standard as they open bidding to interested buyers across the globe. Joshua Kodner Galleries has a dedicated list of more than 700,000 digital subscribers, so anything you sell with us will reach many people. We’ve also been in business for four generations, so we understand what it takes to get would-be buyers to notice your item during a jewelry auction.
Contact Us for Help Buying & Selling
Whether you’re looking to buy or sell jewelry at auction, Joshua Kodner Galleries can help you make sure you’re getting the best value and the most exposure. It doesn’t matter if you wish to sell your item directly to us on consignment or have us auction it off for you; you will have a wonderful experience as our client either way. Please fill out the contact form on our website
telling us what you need, and someone will get back to you as soon as possible. As a certified appraiser, we’d be more than happy to determine the retail value of your items for sale as well. We look forward to serving you.
