AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite CyberattackThough its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Events & AwardsMar 16, 2016
From JA NY: How to Sell Estate Jewelry
When faced with increasing competition from other retailers, expanding the product mix to include estate pieces can help set a jeweler apart. But how does a traditional jeweler do that? Two experts explain.
A circa 1915 platinum ring holding two European-cut diamonds from Doyle New York’s fine jewelry sale in February. Selling antique and estate pieces such as this ring was the subject of an education session held Monday at JA New York.
New York--When faced with increasing competition from other retailers, expanding the product mix to include estate pieces can help set a jeweler apart. But that’s not as simple as it might sound for traditional jewelry stores.
At a panel at the JA New York Spring show on Monday, Jim Rosenheim of Tiny Jewel Box and Susan Abeles of Bonhams U.S. addressed the challenges of estate jewelry and how retailers can prepare their staff to sell it. The EAB Project’s Elizabeth Anne Bonanno moderated the discussion.
Rosenheim said that “vintage is a complicated kind of business,” adding that it can be a very strong draw for people who are looking to create a unique look and also gives stores margin.
Yet one of the big challenges in the marketplace currently is the fact that there’s so much that looks estate on the market that actually isn’t, including forgeries or misrepresentation.
“Find the right sellers, people whom you can trust. Make sure you have everything in writing,” he said.
One important distinction Rosenheim made is the difference in vocabulary when it comes to signed jewelry. Pieces should read, for example, “By Tiffany” if it’s a real piece but there are instances when verbiage such as “Signed Tiffany” is used.
Abeles reiterated these thoughts, noting that there are “innumerable simulated vintage pieces out there, so it’s a guessing game.”
For this reason, asking all the important questions about a piece before buying is of utmost importance--provenance, how the piece came about, how the dealer/company came into possession of the piece and anything else pertinent to its history.
Retailers also need to have an idea of what type of estate jewelry they want to deal in, what they’ll sell and how they will do that. So education, too, is necessary, Abeles said.
This means not only reading all about the time periods and history behind the periods and eras that the store wants to deal in but also being involved with what’s going on in the trade, attending shows and seminars, and following relevant conversations and sources on social media.
When it comes down to it, retailers should trust their instincts about a piece and pay attention to signs that it might not be authentic.
Abeles also said that a good way that store owners can help both clients and salespeople in the process is by creating “tear sheets” for
Editors' Picks
Sponsored by
each piece of estate jewelry, which includes the image and basic product information as well as the story behind the piece.
When asked if they were finding that younger consumers are drawn to the estate jewelry market, Rosenheim said that they are seeing the interest in the bridal category, particularly engagement rings from the 1920s or 1930s. Abeles too said that younger clients who come to them tend to buy bridal jewelry or basics such as rings, straight line bracelets or ear pendants.
But for clients in their 30s, 40s or 50s, they’re more often buying estate to fit their style.
In fact, customers today are no different in buying estate from the way they buy contemporary jewelry, Rosenheim said; they’re buying jewelry to suit their lifestyles.
If a store has clients who wear big Art Deco pieces, then a store could carry that in its estate collection. But many customers today are more casual in their everyday wear, so a store needs to know its market and choose estate pieces that match its clientele’s buying habits.
In this way, finding the right estate jewelry for clients is very similar to selecting the contemporary lines to carry. It just requires due diligence and research beforehand.
“If you’re going to go into the business, go into it with eyes wide open,” Rosenheim said.
When asked if they were finding that younger consumers are drawn to the estate jewelry market, Rosenheim said that they are seeing the interest in the bridal category, particularly engagement rings from the 1920s or 1930s. Abeles too said that younger clients who come to them tend to buy bridal jewelry or basics such as rings, straight line bracelets or ear pendants.
But for clients in their 30s, 40s or 50s, they’re more often buying estate to fit their style.
In fact, customers today are no different in buying estate from the way they buy contemporary jewelry, Rosenheim said; they’re buying jewelry to suit their lifestyles.
If a store has clients who wear big Art Deco pieces, then a store could carry that in its estate collection. But many customers today are more casual in their everyday wear, so a store needs to know its market and choose estate pieces that match its clientele’s buying habits.
In this way, finding the right estate jewelry for clients is very similar to selecting the contemporary lines to carry. It just requires due diligence and research beforehand.
“If you’re going to go into the business, go into it with eyes wide open,” Rosenheim said.
More on Events & Awards
The Latest
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from AuctionDespite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve DoneLilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.Despite the rising prices, consumers continue to seek out the precious metal.
SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Weekly QuizMay 16, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
ColumnistsMay 15, 2024
Squirrel Spotting: Why Retailers Struggle to Fire BrandsWhy do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
AuctionsMay 15, 2024
Red Diamond Breaks Records at Phillips GenevaThe “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
IndependentsMay 15, 2024
David Mann Jewelers in Upstate NY to Close After 35 YearsOwner David Mann is heading into retirement.
FinancialsMay 15, 2024
Brilliant Earth’s Sales Fall Flat in Q1 While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
SourcingMay 14, 2024
Anglo American Confirms It Is Looking to Sell De Beers The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to AuctionChristie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New CampaignThe ad aims to position platinum jewelry as ideal for everyday wear.
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal OfferingsRetailers can customize and print the appraisal brochures from their store.
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed The site has been down since Thursday evening, just ahead of its spring auctions.
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | HindmanThe late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest WinnersThree fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury StoreThe company’s Easton location will remain open.
MajorsMay 09, 2024
JBT Elects New ChairmanBrian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Supplier BulletinMay 08, 2024
Fusing Past and Present at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ ExhibitionTobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met GalaStars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
