Why You Should be Buying Jewelry at Auctions

Go inside Christie’s Magnificent Jewels Auction for dazzling diamonds and tips on buying jewelry at auctions.

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Diamond jewelry auctions bring together a collection of designers from all over the world, as well as jewels from different eras. Even more, each and every piece has its own story to tell.

Fine auction houses can feel equivalent to museums—but where everything is for sale. Could there be any cooler way to shop?! Yet still, when you think about investing in jewelry, your first instinct is most likely to click over to your favorite brands’ sites or pop into a local boutique.

Here, we’re making a serious case for hitting up auctions. And we promise: they’re not nearly as intimidating as you might imagine. Kerry Pieri, Digital Fashion Director of Harpers Bazaar joins the Natural Diamond Council to learn more about the Christie’s Magnificent Jewels diamonds up for auction alongside jewelry specialist Claibourn Poindexter.

The Chrysler Diamond at the Christie’s Magnificent Jewels  auction
The Chrysler Diamond (Photo courtesy of Christie’s)

Diamonds jewelry auctions have great price points.

Christie’s Jewelry Specialist Claibourne Poindexter stresses that most auctions offer price points you can get to, no matter your budget. “My advice is to come in and look around before you ever consider buying anything,” he says. “Come. Look. Visit. We’re all very friendly, we’re all very approachable. Ask questions.”

Sure, auctions can have rare, mind blowing jewels that can sell for millions of dollars. However, Poindexter points out that at Christie’s Magnificent Jewels sale, which is happening on June 8, 2021 (hint, hint), styles like Tiffany & Co. diamond bangles are predicted to sell for somewhere in the $5,000 to $7,000 range. “It really does run the gamut, price point-wise,” says Poindexter. You can often find a deal on diamond jewelry at auctions if you do your research.

JAR Pair of Diamond Cuff Bracelets at Christie’s Magnificent Jewels  auction
JAR Pair of Diamond Cuff Bracelets (Photo courtesy of Christie’s)

Shop for diamonds with personal guidance from jewelry experts.

Unlike some jewelry stores, many auction houses staff people who really, truly know jewelry inside and out, and are there to help buyers find exactly what they want. “Find a specialist you can have a relationship with,” says Poindexter. “We’re here to guide you in the proper way. We want you to be happy and to keep coming back.”

JAR Natural Pearl and Diamond Earrings
JAR Natural Pearl and Diamond Earrings (Photo courtesy of Christie’s)
JAR Branch Under Snow Bracelet the Christie's auction.
JAR Branch Under Snow Bracelet (Photo courtesy of Christie’s)

Auctions have many formats.

Good news if the idea of live bidding gives you severe anxiety: auctions today have numerous formats. Many first-time auction shoppers prefer to shop online through auctions that are timed for periods that range from days to weeks. During these sales, as Poindexter notes, “you have time to think about it.”

But once you get the hang of things, you may prefer to venture into the live auction arena, which can really provide a rush of excitement. Just make sure you go in knowing what you want to buy and your budget so you don’t get carried away. “It’s always good to set a limit,” says Poindexter.

Jar Colored Diamond and Diamond Ring
Jar Colored Diamond and Diamond Ring (Photo courtesy of Christie’s)
Graff Emerald-cut and Baguette-cut Diamond Ring.
Graff Emerald-cut and Baguette-cut Diamond Ring (Photo courtesy of Christie’s)

Now go on, put the Christie’s Magnificent Jewels auction on your calendar and put your bidding skills to the test.