Do you want to buy jewelry with an online auction? It can be a good deal, but first read the 9 rules for participating in an online jewelry auction ♦
Making good deals at jewelry auctions can be done. Of course, we usually publish records: diamonds that are sold at a price of millions of dollars or dollars, rings that belonged to actresses or royal families, awarded to collectors willing to pay dizzying figures. Few, however, know that at auctions of jewelry, even those of the big auction houses, you can buy (not always, but often), even high-quality jewelry at a price lower than the market estimates. Of course, to be able to conclude a lucky purchase you have to follow the auctions. Are auctions held in distant cities? Agreed, but for some time you can also buy following the auction live, through the internet. That’s how.
1 Prepare first
The first rule is very simple: keep an agenda of the auctions proposed by the big specialized houses. Gioiellis.com, for example, anticipates the content of some, larger ones. But just browse the online pages of the major auction houses to know in advance the program and consult the catalog in advance, with the related estimates of price, usually with minimum and a maximum expected. Knowing in advance which pieces will be sold allows you to get an idea and choose in advance which jewel to bet on. Of course it would always be better to see the jewels up close, even if the catalogs often show a good description of the pieces on sale. But, beware: the description is usually flattering.
2 Size matters
Take note carefully the size of the jewel that you would like to buy and try to compare it with a piece you have at home. Often the images seen on the screen of a computer, tablet or smartphone are deceiving.
3 Register on time
The day of the auction has arrived. One moment: have you registered? In fact, before making an offer, you must explain to the auction house who you are. Better to register first, then. To create an account and participate in an online auction you will need to provide your details, along with a photo ID issued by the government of the country where you have the nationality and a proof of your address. If you are planning to buy very precious jewelry, you will probably also be asked for a financial reference and sometimes even a security deposit. The reason is obvious: for substantial purchases the auction house and the seller do not want to deal with unreliable buyers, who have no established money at the trial of the facts. For purchases of a few thousand euros / dollars, however, just a credit card.
4 How to buy
Once registered, you can participate in the auction. Each online auction includes how to submit your offer. It is usually also possible to set a maximum bid amount (the highest bid you consider). Just read the instructions on the auction house website: it’s very easy to participate and submit your bid.
5 No jokes
Participating in an auction is not a sport or a game. Anyone who submits their bid establishes a binding contract with the auction house that cannot be canceled once entered. So before you click you have to be fully convinced. Count to three and then raise. But it is also true that if you wait too long you may miss the opportunity. How to understand how much time you have available for a raise? Simple, carefully follow the times dictated by the auctioneer: after a few pieces sold it will be easy to understand what is the time required to intervene with your offer.
6 How to buy the jewel
It is not difficult to win a gem at an online auction. After the auctioneer has established that yours is the highest bid, the auction house will provide the necessary sales information. For example, the operation invoice. Confirmation, after your bank transfer (if you have not used a credit card), usually arrives at the time of collection, ie a couple of days later.
7 Other charges
Who does not know the auction mechanism can be surprised: the hammer price is not the final cost. In addition to the price at the time of auction, there are other applicable charges, such as the buyer’s premium, local taxes, shipping charges, insurance costs for liability in case of loss. These fees also vary in relation to the auction house and the place of sale. The auction fees can reach about 15-25% of the price set by the auctioneer and beat at the time of sale.
8 How to get the jewel
You have beaten the competitors, you have won the jewel and you have paid the established price plus the additional charges. And now? Simple: it’s time to make arrangements for shipping. Obviously if you live in the same city or near the place where the auction was held you can personally access the saleroom and collect the jewel. Otherwise, the purchase must be sent. Auction houses usually have agreements with companies specializing in shipments of precious or, as in the case of Christie’s, offer their own service. And this reminds you of another aspect: before buying a jewel, check the shipping cost.
9 And if I do not like it then?
Those who live in the countries of the European Union have the right to return purchases, under specific conditions. The rules governing the return of purchased goods and, therefore, also the jewels, can be found here. But don’t be pessimistic: it is much more likely that buying a jewel at an online auction will give you great satisfaction!