Engagement Rings & Weddings
How to Buy an Engagement Ring at a Jewelry Auction, According to Experts
By Jill Newman, Updated May 27, 2025
These are the people you want on speed dial if you need tips on how to buy a diamond engagement ring at an auction.
With their record-breaking diamond sales, jewelry auctions may seem intimidating. But there is another lesser-known side to the business that’s welcoming to budgets even under $5,000—and it has to do with sourcing and locating that perfect diamond engagement ring. See, names like Sotheby’s and Phillips employ top-notch specialists who are at the ready to track down clients’ ideal styles. And if they can’t locate it, they will take the extra steps to source a diamond, then help design and execute a bespoke piece. There are no limits to the possibilities, and if you want to know how to buy a diamond engagement ring at an auction, these are the people you would call.
Meet the Experts
Paul Redmayne, Senior Vice President at Sotheby’s, brings over two decades of high jewelry experience from esteemed houses like Cartier and Harry Winston to the auction world. At Sotheby’s, he leverages his global network and deep market insight to connect clients with rare and off-market pieces, while also championing contemporary jewelry designers through curated exhibitions and private sales.
Caroline Morrissey, Director and Head of Jewellery at Bonhams New York, brings over two decades of experience in the jewelry industry, with a specialization in diamonds and colored gemstones. At Bonhams, Morrissey oversees multiple annual jewelry auctions, where she applies her deep expertise to curate exceptional collections and guide clients in acquiring rare and significant pieces.
Ahead, discover how today’s top auction houses are redefining the engagement ring shopping experience —and meet the jewelry experts who can help you source and buy the diamond ring of your dreams at a jewelry auction.
Why Buy an Engagement Ring Through a Jewelry Auction?
Why settle for a limited selection of engagement rings, when auction houses can access stones and rings from around the world? Their industry jewelry specialists hold decades of experience, are part of international networks of dealers and clients and are available for private consults throughout their curation process.
Paul Redmayne, Senior Vice President at Sotheby’s, spent 20 years working at Harry Winston and Cartier before joining Phillips auction house as the head of private jewelry sales. He worked closely with clients around the world to help them find the perfect diamond engagement ring for that unforgettable proposal. “There are absolutely no restrictions whatsoever,” he explains. “The client is the one wearing it, so they decide entirely on size, color, clarity, cut, etc. Specialists simply lend their expertise and deep-sourcing network to get them the best options.”
“A global network of designers, stone dealers, and jewelry experts provides auction houses with extraordinary access to the very best material at amazing value,” explains Sara Thomeier, former Head of Jewels, Americas at Phillips. “So, whether the client is seeking an important diamond or something off the beaten path like a pedigree-colored gemstone, they know how to source it directly, and specialists understand the nuances that contribute to the true value of a stone now and for generations to come.”
The “See It, Buy It” Advantage at Sotheby’s Jewelry Auctions
Sotheby’s makes it easy for clients to buy diamonds and jewelry any day of the year. As a leader in the jewelry auction world, the Sotheby’s Diamond division presents top-quality diamond rings and jewelry, including capsule collections by exclusive international designers like Lily Gabriella and Nicholas Lieou. Additionally, their Buy Now platform offers a rotating assortment of rings and a huge selection of loose diamonds for prices starting at just $3,200. Whether they want an antique or contemporary design or want to create something original starting with a stone of their own choosing, the Sotheby’s team taps into its vast resources to find it.
Bonhams Jewelry Auctions: Personalized Service and Accessible Price Points
At Bonhams, if a client can’t come in to see the options in person, Caroline Morrisey, Head of New York Jewels, will consult with them over the phone, email or video. Morrisey promises that she “will do everything I can to make their dreams a reality.” At the house’s 15 annual jewelry auctions, about 20 to 30 percent of the items are engagement-style rings, and prices range from $500 to $1 million, with the majority under $10,000. A range of similarly affordable diamond rings from all periods can also be accessed through private sales.
Trust and Transparency: The Auction House Advantage for Diamond Rings
Another auction house advantage is the level of trust and reliability that comes from buying a diamond from a house like Christie’s or Sotheby’s; both were established more than 200 years ago, and will be around for generations to come. In many cases, jewelry auctions also have more competitive prices on similar quality stones than some retailers do because they are working directly with dealers.
Sotheby’s Diamonds partners directly with Diacore, one of the world’s largest international diamond manufacturers, for its loose stones. If a client doesn’t find their desired diamond in the Buy Now division, a specialist can track down diamonds from other sources to show the client, or even tap into their jewelry specialists in their offices in Hong Kong, London or Los Angeles to enhance the search.
At Bonhams, Morrisey enjoys the challenge of a diamond search saying, “I have a love of stones, so it is a wonderful hunt for me.” She says most buyers are looking for stones over three carats—usually white diamonds, and occasionally fancy-colored diamonds. “There is a real range of budgets, but when we are sourcing a stone for a client it is typically $50,000 and above. These are rarified and special stones that require an individual search and I know where a lot of great stones are kept.”
Designing Your Own Ring Through a Jewelry Auction
Sometimes, a client’s perfect diamond engagement ring just doesn’t exist, so the auction houses are equipped to help them create a bespoke design. Sotheby’s, for example, has a jeweler in New York that it works closely with to create settings for loose stones, as well as numerous jewelers and artisans who can manufacture jewelry, from simple to complex pieces. Specialists will happily provide their opinions and ideas as the jewels are conceptualized, while the jewelers will ultimately work closely with the clients to make them a reality.
At Bonhams, if a client wants a specific jewelry designer to create a ring with a diamond from the auction house, the specialists will readily make that connection. Or if the clients have a specific mounting in mind, they can have that made, too.
Redmayne once worked a client to create a diamond ring for his wife who just gave birth to their third child. “The client wanted something a bit different and personal, so I suggested we set three tiny diamonds inside the ring so only he and his wife know they’re there,” he explains. “He loved that.”
At Phillips, the bespoke process starts by sharing ring images and ideas with clients. Once they establish a style, metal type, side-stones, personal twists and details like engravings, the team produces a digital rendering made to scale to present the client. After any final adjustments are made by the client, the rendering is sent to the best workshop for the job—be it in Hong Kong, Paris or Geneva—to complete the ring.
Final Thoughts: A Jewelry Auction Can Be Your Personal Diamond Concierge
Whether a client buys a finished ring or bespoke, auction experts are basically like having your own personal diamond consultant. And who wouldn’t want that? These specialists combine deep industry knowledge with global access, offering a level of personalization at jewelry auctions rarely found in traditional retail. It’s not just about buying a ring—it’s about discovering a diamond with a story, one that’s sourced with care and selected with intention.
FAQs: Buying Engagement Rings at a Jewelry Auction
1. What are the benefits of buying an engagement ring at a jewelry auction?
Jewelry auctions offer access to rare diamonds, expert guidance, and competitive pricing, often below traditional retail. You can discover both vintage and modern pieces with unique provenance and exceptional value.
2. Are jewelry auctions only for high-budget buyers?
Not at all. While auctions feature high-value pieces, many rings sell for under $10,000, and some start as low as a few hundred dollars. Specialists can help match you with options that fit your style and budget.
3. Can I buy an engagement ring at auction if I’m not an experienced collector?
Absolutely. Auction house experts guide first-time buyers through every step—from understanding diamond reports to bidding or buying privately, making the process accessible and low-pressure.
4. How do I know I’m getting a quality diamond at a jewelry auction?
Top auction houses like Sotheby’s, Bonhams, and Phillips provide third-party diamond certifications, expert appraisals, and transparent condition reports to ensure authenticity and quality.
5. Can I create a custom engagement ring through a jewelry auction house?
Yes. Many auction houses offer bespoke services, helping clients create custom settings or source specific diamonds for a one-of-a-kind engagement ring.
