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Online auctions continue to shine for Fellows as gemstones sell above estimate prices

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Fellows Auctioneers has reported another positive auction during the coronavirus pandemic. 

Combined with the online-only jewellery auction the day before, Fellows has seen a sharp increase in the interest in online auctions, despite the current climate.

Fellows’ latest timed online-only auction, The Gemstone Sale, had an 88% sold rate, following up on the 90% sold rate in the auction the previous day.

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The Gemstone Sale ended on Friday March 20 and with a total low estimate of around £30,000, the sale had a total hammer price of around £45,000.

With nearly 200 registrations, the independent, family-run business was delighted that the number of bidders via their online channels has continued to rocket.

Many gems flew above their estimates in this auction of sought-after loose gemstones.

A rectangular-shape pink diamond with an estimate of £150 – £200 was in high demand as the item eventually received a total of 54 bids, selling for a full price of £2,287.80 (including fees).

Further to this, highlights included a square-shape emerald which sold for £752.76 (including fees), against a £300 – £400 estimate.

This is the second online timed sale to end at Fellows Auctioneers in two days which has resulted in an extremely high sold rate.

Fellows will be holding timed sales of jewellery, watches and more in the coming months.

The incentive of free shipping (subject to terms), will still be added to the majority of items sold in these sales. Fellows Auctioneers has altered their auction schedule, ensuring every sale from April-June will be timed, online.

Penelope Gilliver, from the Jewellery Department at Fellows Auctioneers, shares: “We had an abundance of alluring gems in this sale and it’s a delight to see so much interest. Lot 92, the rectangular pink diamond was such a beautiful gemstone and I was pleasantly surprised that so many people were interested in it. There were also so many other great prices in the sale, including emeralds, sapphires, and a multitude of other gems.”

Managing director of Fellows Auctioneers, Stephen Whittaker, adds: “I am delighted that so many gems sold for way above their estimates in this sale. There is always a keen interest amongst bidders for interesting gemstones but it was fantastic that this sale received so many bids, even in the current climate. I’m sure our upcoming timed sales in the coming weeks will follow a similar positive trend.”

Visit Fellows’ website to stay up to date with its online-only auction schedule.

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The author Stacey Hailes

Editor, Professional Jeweller

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