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Wannenes Art Contact “Getting

caught up in the euphoria of bidding”

The jewellery market is a particular one – so how do auctions of fine
jewels and gems work? Here, we have the explanation from expert,
Teresa Scarlata, head of the Monaco office of Wannenes Art Contact.

Capogrossi and Dali all designed it and it is up in the euphoria of bidding. One man paid
sought-after. At our December 2020 auction, €13,000 for a contemporary ring with five rows
we sold a Lucio Fontana gold bracelet for of diamonds that had been valued at €2,500,
€165,100 (including fees) and a pair of Man Ray simply because he did not want to give up
pendants in gold for €48,260 (including fees). bidding – so there’s more to it than just the
desire to possess or having the money for it.
Do you note trends in auctions of jewellery? How do you go about setting up an auction?
Yes, and these trends change. It’s always to do Do sellers come to you off their own bat or How do you fix the asking price of a piece
with supply and demand. For example, natural do you contact them? of jewellery?
pearls were, for a long time, very popular and, It’s 50-50. We make contact with collectors It all depends on how rare it is and how sought-
at the beginning of the 20th century, they were after a succession and with the general public after. There is also instinct – you have to guess
worth even more than diamonds. The value via advertising and social networking. whether the item has potential. One thing I
dropped with the arrival of cultured pearls. really like about this job is also the research
Now real pearls have become very rare. It’s What criteria increase a piece of jewellery’s – who was the goldsmith? Who has previously
a small marketplace and prices can be very price at auction? owned the piece? I remember once a bracelet
high for exceptional pieces. As well as quality, provenance is very with no hallmark. I recognised the style of
important. For example, a necklace having Van Cleef when I looked at how the stones
What are the safe bets? belonged to Elizabeth Taylor or a princess were mounted and a look in the archives.
Gold is a safe bet. Currently, 18 carats cost would be very popular. It’s essential to know the characteristics of
more than €28 per gramme. Diamonds, just each designer.
like coloured natural pearls and hallmarked What is the attraction of selling at auction?
pieces, are also considered a good investment. In the first instance, one has to be aware that How is the authenticity of pieces of jewellery
For diamonds, the price will depend upon an asking price at auction will be lower that confirmed?
the gem’s characteristics and is determined what is to be found in a jewellery shop; but For larger stones, we have an independent
by weight, colour and the stone’s purity. The auctions can be surprising. Auctions allow gemologist draw up a certificate. It’s a question
diamond market hit an all-time high 10 years for a wider public and now, with the internet, of transparency and trust. Buyers need to know
ago and has since dropped markedly with we have potential buyers in Japan, China, the what they are purchasing, so we have coloured
the pandemic. It is expected to increase and US and Russia. The seller has more chance gemstones valued in Basel in Switzerland,
reach its former glory in about 2024, so now of selling his or her jewellery at a higher price whilst diamonds over one carat are valued in
is a good time to invest in diamonds. Coloured than over the counter in a boutique. Sometimes Italy or the States.
gemstones are always very sought-after. In there is a real race: in December 2020, we sold
July 2019, we sold a pair of 17- and 18-carat some necklace pearls for €101,000, whereas Is there a maximum or minimum number of
Kashmir sapphire pendant earrings for €2.96 they had been valued at €18,000 – a perfect participants at an auction?
million (including fees). That was a record example of how auctions work. With digital, online sales, there is no limit.
for Monaco. Technology is helping to break down walls.
What’s the attraction of buying at auction, With the Covid-19 crisis, the number of virtual
What is your personal best sale? apart from the thrill of bidding? participants has increased considerably. In
I sold a Bulgari Fancy Deep Blue diamond ring At an auction, there’s something for everyone. December 2020, we held our auction only
for €7 million. Our selection will be of pieces from the 19th online and we achieved €1.6 million.
century to today and some clients will only
Is jewellery made by artists popular? be interested in natural pearls, others by When is your next auction?
This is a special market. Jewels designed diamonds, still others by gemstones and Art It will be in July and will be dedicated
by artists are a cross between modern art Deco pieces. Prices can sometimes be very to jewellery, watches and vintage luxury
and jewellery. Man Ray, Calder, Pomodoro, attractive and the bidders also get caught handbags, which are currently all the rage

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