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STEVEN COLLINS, HEAD OF JEWELLERY, SILVER AND WATCHES AT CHEFFINS, EXPLAINS HOW TO FIND YOUR DREAM ENGAGEMENT RING AT AUCTION B uying at auction allows you to find rings at amazing prices, far below new prices or even prices in second-hand jeweller’s Put a rin g on it
windows. Of course, you may not have the widest range of choice at auction, but if you do find a ring you like, you’re onto a winner financially. Also, many people like the idea of an antique ring; something that has a story to tell and is different to the new rings found in the shops. Often, old-fashioned cuts and settings can have a certain je ne sais quoi, which may not be found with a new or second-hand option. With many jewellers seeing markups of up to 300%, auction houses can often be places to find pieces by some of the world’s most prestigious jewellery makers. Think names like Kutchinsky, Cartier, Van Cleef & Arpels and so on, which usually would be out of most people’s price ranges. fiancée’s finger every day for the rest of her life, so be mindful of longevity. Some gemstones are far stronger and more resilient than others. Diamonds are the hardest natural substance on Earth, so it’s no coincidence they are the most popular stone for engagement rings. Next on the scale of hardness is a mineral called corundum. Most people have never heard of it, until they realise A ROCK AND A HARD PLACE Remember, this ring may well be on your
blue corundum is sapphire, and red corundum is ruby! Again, this means it’s no coincidence ruby and sapphire follow close behind diamonds as favourites for engagement rings. It is for this reason the ‘softer’ gemstones, such as opal, pearl and turquoise, are rarely used in engagement rings. COMPLEMENTARY COUNTERPART Next to bear in mind is there is a good chance this ring will be worn against a wedding ring. It’s important the two rings sit well together, so definitely keep that in mind when looking at different designs. When visiting the auction, ask for a wedding ring to try on together with the engagement ring and see how they look next to one another. Remember, you will be looking at this combination for the rest of your life, so if it bugs you now, it’s unlikely you will get used to it. THE PERFECT FIT Keep in mind that there are 52 ring sizes. So the chances of you finding a ring you like that fits is one in 52! Ensure the ring style is suitable for altering to your finger size. Most rings can be altered easily, but some can’t, so make sure to establish this before committing to the ring.
BANG FOR YOUR BUCK It’s worth setting your budget before you attend the auction. Don’t forget to factor in additional costs, such as buyers’ premium and VAT. Buyers’ premiums vary between different auction houses – we usually charge 22.5% – so it’s worth bearing this in mind when you are bidding for an engagement ring. FOR A FIRST-TIMER If you are a first-timer, don’t forget someone at the auction house will be willing to help you on the day. They can even bid on your behalf if you would like. Similarly, if you aren’t able to attend the sale, don’t forget you can bid online or over the phone. SIMPLY THE BEST Go for the very best you can afford – this may sound like a sales pitch, but the value and beauty will be remembered long after the price has been forgotten! The next jewellery, silver and watches sale at Cheffins in Cambridge takes place on 11 April. The company’s gemmologists can also assist and advise on the valuation of jewellery, silver and watches. cheffins.co.uk/fine-art
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