Should You Buy Jewelry At An Auction?

For an average customer, it may not be a routine experience to buy fine jewelry. A majority of you may head towards the shopping mall or a brand retailer to buy a solitaire ring, beautiful gold necklace or a high-end watch. However, it’s not necessary that the familiar names of brands or malls make them the best places to shop for exorbitant accessories. Now the question is, where else you can get expensive jewelry in less than the retail price? Yes, an auction house is one such place! You will be able to find unique designer collection from all over the world and every piece will reveal the history of its existence.

However, you must be thinking if it is wise to buy jewelry at an auction. Well, you need to hold that concern until you read this guide till the end. Here, we will discuss the basic idea of auction houses, pros of buying from there and some useful tips to make a successful shopping experience. Scroll through and get acknowledged!

What Are Jewelry Auctions?

What Are Jewelry Auctions

Just like any other auction, jewelry auction is also about trading preloved or slightly damaged accessories that are available for less prices than original for obvious reasons. It is not necessary that all the pieces have to be in a defected condition; you can also find a lot of great stuff there in a brand-new shape.

Auction houses are not less than any museum where you get to see vintage and popular accessories worn or owned by well-known names. For an inexperienced buyer, these places may not seem convenient as compare to purchasing from the retail shop. However, a careful buyer can surely get something precious and valuable. Fret not! If you lie in the first category, we are giving away some free tips to make the experience pleasant at the first-hand.

Types of Jewelry Auctions

There are basically two main types of jewelry auctions:

  • One that is held online and
  • The other that has a physical display shop

Both options are viable to shop for fine jewelry, but there are some obvious differences between the two that you should know beforehand.

  • Typically, On-location auctions offer you the opportunity to visit them and view the desired accessories in person. On the other hand, online auctions show the 3D or HD rotating presentation of an accessory, which is definitely not comparable with a direct eye contact.
  • Traditional auctions permit you to consult the expert present on the location for opinions – a face-to-face real conversation. Whereas on online setup, several messaging services are available for the purpose where you can chat with the professional through texting.
  • The biggest benefit of online shopping is that; you don’t need to be present on the spot. It requires less effort, and you can yield same results as physical purchasing, if done right.
  • With online services, you will be able to access the entire catalog which may not be present in the traditional setup. Hence, more variety, more options to select from!

To cut it short, both type of auctions have their pros and cons. You need to weigh the difference and choose what suits you the best!

Benefits of Jewelry Auctions

We believe that buying jewelry at an auction is better than retail shopping. Here are a few benefits that made us think so. Have a look!

1. They Offer Great Deals

They Offer Great Deals

The most fruitful and prominent advantage of auctions is their amazing deals. For instance, generally jewelry has a higher retail price, even sale prices are significantly unaffordable. However at auctions, you get a chance to start bidding for as low as $1. The best part is; auctions are held throughout the year, so you don’t need to wait for seasonal sales for shopping anymore!

2. The Variety is Vast

The Variety is Vast

Choosing a desired product from a vast variety of items is surely a win. Well, jewelry auctions can make your dream come true! They have everything for everyone; from vintage collection to the latest year’s fashion jewelry. In fact, you can also get unique pieces there which won’t be available at any retail shop. In case you can’t find something good for yourself; auctions offer the facility to subscribe to their websites to stay updated about their upcoming collections. Hassle-free!

3. Convenient Purchase

Interested in an item, but the event is happening far from your place? No problem! You can access the products while sitting on your couch with a single tap on your phone; all thanks to the online auctions. Luckily, the websites offer 3D imagining and detailed description for customer’s satisfaction, and also allow you to check the item in person before full payment.

Important Tips for Purchasing Jewelry At An Auction

If you have finally decided to buy jewelry at an auction either physically or online, then following tips can help you in making the process smooth and worry-free.

  1. Firstly, you need to thoroughly study the catalog of the collection before the event date to know what you exactly need from there. The list of items along with details is mostly available online.
  2. Do some research about gemstones and gather basic information about jewelry because an auction market is not a place for an inexperienced person. It doesn’t mean only experts can benefit from the opportunity. All you need to know is how to identify a gem and determine its worth in order to prevent scams.
  3. Prepare a budget and don’t forget to add buyer’s premium in your purchases. However, don’t go overboard with the budget as you can get in unforeseen trouble.
  4. To prevent overspending, look for a proxy bid service that should be available on an online auction platform.
  5. Read the description and condition report of your desired product thoroughly before finalizing.
  6. Don’t hesitate to talk to the experts present at the location; ask away all your doubts and concerns.
  7. Inspect your shortlisted items properly and if the auctioneer denies that; it’s best to skip that.
  8. Ask for certifier credential always when you wish to shop for diamonds.

Should I Shop From A Jewelry Auctions?

Should I Shop From A Jewelry Auctions

Yes, yes, yes! If you take our suggestion, then we can only say yes in the answer. It is a great way to get your hands on cost-effective and unique fine jewelry. Particularly, online auctions are extremely convenient and also allow the customer to double check in real-time while auctioning. However, to make the most out of the available deals; you need to be well-prepared in terms of knowledge and research to avoid fraudulent. Some people, especially the first timers, can get scared with the thought of getting scammed, but there is always a first time of everything.

Bottom Line

There comes a time in life when you need to make an occasion memorable with a special gift, and certainly exorbitant fashion accessories can be a great choice for that. Whether you need an engagement ring for your girlfriend or looking for a high-end watch to present your beau; jewelry auctions can help you with your search! You ask how? Because they are meant to serve you better than a retail shop. In fact, a lot of people prefer purchasing at auctions because of the wide variety, unique collection, buying convenience and a cost-effective price.

In this post, we have gathered some advantages of jewelry auction and a handful of tips for a pleasant shopping experience. However, the final call is yours!