Strong auction results for Fellows Auctioneers despite Brexit anxiety

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Fellows Auctioneers posted a hammer sale of £276,976 at its jewellery sales held on July 7.

1,568 lots were available for sale and 72% sold. Comparison with the company’s sale two weeks prior, whilst there were an additional 258 lots in yesterday’s sale, there was an increase in the hammer price of +200%.

With gold and diamonds reporting a healthy increase in prices in the last few days, Fellows Auctioneers says it was no surprise to see some of the top lots reflecting this. For example Lot 153, a striking diamond necklace, sold for £1,300.

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Some items fetched far higher than their estimates such as lot 768, an 18ct gold sapphire and diamond cluster ring, which was estimated between £120 and £180, sold for £460.

The falling English Pound against the US Dollar attracted the Americans with over 30 buyers successfully bidding in the sale. Europeans were not deterred either with keen interest from Sweden.

Items that were clearly sought after include lot 781 a sapphire and diamond three-stone ring which had eight people bidding on it. From a low estimate of £400 it eventually sold for £800.

Managing director of Fellows Auctioneers managing director, Stephen Whittaker, comments: “Whilst the current uncertainty may deter some buyers, the exchange rates are providing opportunities for purchasers from abroad to acquire a wide variety of items from jewellery to watches, and fine art to designer handbags.”

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