Tips to Follow When Buying Jewellery at Auction

There are different kinds of jewellery that you can purchase and wear, and some pieces of jewellery are considered more valuable than others. In buying jewellery, it is always important to check out the value of the necklace, earring, or ring besides looking at its appearance, as its value would allow you to turn the item into an investment in certain instances where you will need to sell it.

The people that are fortunate enough to have highly valuable pieces of jewellery would sometimes sell or bring the accessories or items to an auction house, where potential buyers can bid for the price of the jewellery. If you are one of those that are currently looking into buying jewellery for auction, there are several steps and tricks that you may need to follow to ensure that the money you will spend on an item will be worth it. Here are some tips to follow when buying jewellery at an auction.

Pick a Trusted Auction House

gold jewellery

Before you get into finding the best jewellery for you, it is essential to pick a trusted auction house first so that you won’t get scammed, and your transactions with the company will always pull through. There are dozens of legitimate auction houses that you can find in cities near you or on the internet, and one of the ways for you to know more about these establishments is by checking reviews and forums on the web that will provide the pros and cons for the best auction houses.

Trusted auction houses would also inspect or test the pieces of jewellery before they actually sell them at the auction, so you will be sure that there won’t be any fake jewellery in the auction you will be participating in.

Do Some Research

Once you have found the perfect auction house near you or online, you would then have to do some research on what you should buy and if the items you will be buying have value. Luckily, the internet will provide you with everything you need to know about jewellery, so you don’t need to consult an auction expert for advice or for mentorship.

However, if you do want to expand your knowledge in the tricks of the auction, then you might want to ask for advice from friends, loved ones, or experts that are willing to share their knowledge or their tools of the trade.

Buy Pieces that Will Have Value for Years

As stated before, it is very important that you buy pieces of jewellery that not only look great but would actually retain their value over time. A valuable piece of jewellery would usually be the one that was previously owned by a famous person like a historical figure or a celebrity, but that would often have a much higher asking price or bid at an auction house. But, bidding on those pieces of jewellery is worth it since they will have the same value even after ten years, and they may even increase in value depending on their condition and importance.

In addition to celebrity-owned jewellery, there are also particular brands that make accessories that retain their value, and these brands are David Yurman, Rolex, Van Cleef & Arpels, and Tiffany. Be on the lookout for those brands whenever you are participating in an auction.

Know Which Precious Gemstones or Materials are More Valuable

rings with diamonds

Different types of precious gemstones and materials used to make jewellery will have different values at auction, so it is crucial for you to know which ones are considered to be more valuable. Diamonds are regarded as the most valuable materials for jewellery, as they last much longer than other gemstones and they are relatively rarer. Besides diamonds, gold is also another material that is highly valuable for jewellery enthusiasts because of its elegant appearance.

Of course, the quality of the materials of the jewellery will further increase its value, but getting a brand new piece of jewellery at an auction is rare, so you would need to make sure that the accessory or item you are buying doesn’t have blemishes or damages if you plan to sell it in the future.

Learn About Jewellery Markings

In addition to knowing the types of precious gemstones and materials, you would also need to have knowledge about jewellery markings, which can determine the overall value of a material. For gold, the markings would be in numbers that are followed by the letter “K,” and the higher the number, the more valuable it is.

The 24K (24-karat) gold is considered by many jewellery enthusiasts to be the most valuable gold in existence, but it can usually be expensive. If you cannot afford 24K gold, you have the choice of purchasing 18K and 14K gold.

Maintain a Low Profile

In order to not attract thieves or potential scammers while at an auction, you should maintain a low profile by not telling anyone (or by telling only a few of your closest family members or loved ones) about what you are planning on buying or bidding. Furthermore, you should post anything about the auction on social media, as there are nefarious people lurking on the web that can steal your personal information and scam you on the transaction at the auction house.

By keeping a low profile, you will also have better control over your decisions, as there wouldn’t be opinions on how much you should bid on and what you would purchase. So, maintain silence whenever you are at an auction and only reveal your investments or purchases to only a small group of people that you trust.

So, these are the tips that you can follow if you want to have a safer and more enjoyable experience in purchasing jewellery at an auction house near you or on the internet. Don’t forget to do some research on the items that will be sold at the auction you will be participating in so that you know which ones are more valuable.