You probably need some beautiful jewelry to compliment that beautiful look at parties and get-togethers. And yeah, it’s always been purchased online or at a jewelry store.
Well, your auctioneering activities have probably been on arts or clothes or even furniture.
You just started considering bidding for jewelry. But you need help.
Here, in this article, I will run through 7 things you need to know about buying jewelry at an auction.
1. Do your research carefully.
Jewelry auctions, both online and traditional, seem like a different world entirely. You have to be particularly familiar with jewelry and its normal prices. You should also learn how to access jewelry and mentally give it a price range. There might be a fraudulent situation and you have to be guarded by foreknowledge.
2. Prepare a budget beforehand
Well, your budget might be influenced by the purpose of getting jewelry. Surely, you’d not fix a low budget for jewelry on an incoming wedding or engagement. Auctions don’t really respect budget, but you might overspend [against your budget] if the competition is high and probably exciting. Also, never forget to calculate the buyer’s premium.
3. Carefully read the description and condition reports
You should have an idea of what you want to auction for. The description and condition report, as well as the auction catalog, provides you the opportunity of inspecting the piece of jewelry you intend to bid for. Also, your knowledge of the pieces will help you to prepare your mind financially on how to bid. Don’t glance through, read well.
4. Desire transparency
Try as much as possible to ask questions from the auctioneers. Not all auctioning jewelry is as perfect as the auctioneer paints it. You should talk with the experts before, during, and after the auction about the jewelry you intend to bid for. If the auctioneers are honest and intentional with you, you can help yourself out with a happy auction.
5. Bid in person, if possible
Especially if you desire to bid for an engagement ring online, it might not be as eye-catching as physically admiring your desired item. You would also enjoy the opportunity of seeing potential bidders you’d have to compete with. You should see the auctioneer physically so as to evaluate the bidding situation.
6. Check the certification well
This is stressed when it comes to diamonds. It is important to assess the credibility and proficiency of the auctioneer. Apart from being processed through the standard of ‘cut, color, clarity, and carat’, certification should take the last ‘c’. Although, you should understand that not every diamond comes with a certificate.
7. Be firm during the auction process
You might be carried away during the auction process for one or two reasons, but you should be firm, assertive, and bold. There is always some bidding excitement anyway, but don’t get caught up by it. Concentrate while bidding, and stick to the process.
Also, ensure that the auctioneer doesn’t get carried away and forget your presence. Be in constant touch with him/her.