Jewelry Auction Update

July 10th, 2015 by James L. Sweaney, CGA, FGA. GG
Auction watch

Sotheby’s Catalg, Important Watches Sale, June 11

Great news for our client–this beautiful Art Deco watch, mentioned in our previous blog, did very well at Sotheby’s Important Watch Auction, June 11. The piece sold for a hammer price of $13,000, almost double the reserve price. Yay!

As you can see from this image from the auction catalog, Sotheby’s does a wonderful job promoting their jewelry auctions. The photography is world class, and the description and layout present the piece wonderfully.

They also researched the item carefully. By contacting Vacheron Constantin, they were able to determine that this particular watch movement was made only in 1928. Factors like rarity contribute significantly to the value of items, particularly at auctions where aficionados, collectors, and dealers compete for choice items.

If you have fine jewelry or high end watches to sell, you can see that the auction market can be an excellent way to realize the most value for your pieces. The problem for many is that the process of submitting items to an auction house can be intimidating. The auction house charges a commission to sell your pieces and fees for publication (for the catalog and other promotion), insurance, shipping and handling. It’s a complicated transaction because of the security required for handling high value items.

Mardon will prepare and submit your items for auction for about the same cost or less than if you did it yourself. We can do this because the auction houses charge jewelry professionals a lower selling fee than they do private individuals. Our expert gemologists know which auctions work best for your items.

We’ve been a trusted resource in the Inland Empire for evaluating and handling high value items since 1961. If you have inherited items you wish to sell, stop by our shop or give us a call. We’re open Tuesday thru Saturday, 10 – 5:30.

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