Thrill Of The Find

Why auctions are the best places to buy jewellery

JEWELLERY IS MORE THAN AN ACCESSORY—it is a way to communicate your style, and offer a point of view. And while it may be great to buy contemporary pieces from the newest label, it is often more interesting to wear a piece that has an older story to tell. An ornate gold temple haar from South India, for example. A Golconda diamond with its distinctive brilliance to acquire as your engagement ring. Or a near-identical version of your grandmother’s Belle Époque pearl earrings. Such exquisite and unique pieces are exactly what can be found at auction houses these days.

Nothing quite thrills like the energy of a live auction at which a million-dollar jewel can be sold in a matter of minutes, with the affirmative thud of the gavel. The word ‘auction’ comes from the Latin verb augeo, which means ‘I augment’ or ‘I raise’. And that is precisely what happens: Participating bidders set the price of a given lot, based on the stated estimate given ahead of its sale. An auction works on a very transparent and regulated system, where all the relevant information of the jewel is shared. The prices are public, and bidders pay the highest quote.

Presently, the most spectacular jewellery lots in the world are handled by notable auctioneers like Rahul Kadakia, the international head of Christie’s jewellery department, and David Bennett, worldwide chairman of Sotheby’s international jewellery division. Having presided over the sale of legendary collections such as those of Elizabeth Taylor and the Duchess of Windsor, to name just a few, auction veterans often comment on how fascinating it is to watch these gentleman in action as they lead these incredible jewels to their fate and new home, with astute accuracy and a certain showmanship.