Art Market Insights | January 23, 2020
Butera Art Advisory and Management, LLC (BAAM) kicked off 2020 at the Heckerling Institute on Estate Planning in Orlando, Florida. During the conference, we were pleased to co-host with Morgan Stanley the Influential Women Connectors Dinner. As we work closely with clients during the estate planning and administration process for appraisals and sales advice, it is important to us to support and connect with the professionals and thought leaders in this field.
BAAM is giving a webinar hosted by the Appraisers Association of America (AAA) with insights into the metrics, statistics and indices that are used to track the performance of the art market over time. The live webinar takes place on February 19th from 1-2:30pm. Click here to register.
BAAM frequently works with advisors and their clients to provide insurance and estate appraisals for jewelry and advice for selling at auction. During the course of these projects, a question inevitably arises: What is a GIA (Gemological Institute of America) certificate and when do I need one? BAAM spoke with Lauren Peck, GIA Graduate Gemologist and owner of Lauren Peck Fine Jewelry – a private jeweler specializing in custom designs – to answer these questions and get her update on the current state of the jewelry auction market. The interview is included below.
Best wishes,
Alanna Butera
Head of Appraisals and Advisory, President
Alanna@ButeraArtAdvisory.com | 908-591-5023
ART MARKET INSIGHTS | January 2020
BAAM’s Interview with Lauren Peck
As a former specialist in the Fine Jewelry department at Freeman’s in Philadelphia along with her time working at the Sotheby’s Haverford, PA office, Lauren is well qualified to share her insights into the process of obtaining a GIA certificate and the current trends of the jewelry market at auction.
What is a GIA certificate?
This certificate will include an unbiased assessment of the 4C’s (color, cut, clarity, and carat weight) as graded by the GIA. The GIA is the world’s most renowned, respected and recognized lab for diamond certificates.
When do you recommend that a client get a GIA certificate?
When appraising, selling or purchasing an important diamond, it is usually recommended to obtain a GIA certificate. It is especially crucial when a client is considering a ‘big’ purchase, i.e. engagement ring, diamond studs, diamond pendant, etc., in other words, when the diamond is the focal point of the piece.
To learn more about the process to obtain a GIA certificate, click here and to learn about the cost, click here (see page for link to ‘Fee Schedule’).
What are the current trends that you see for jewelry at Auction?
Overall, we are seeing a continuation of trends at auction that we have been witnessing over the past few years. Below are some examples:
- Colors: Fancy colored diamonds and colored gemstones that portray the top examples of quality and country of origin are still highly sought after, including Kashmir sapphires, Burmese rubies, and Colombian emeralds.
- Names: Signed jewels from designers such as Cartier, Van Cleef & Arpels, Bulgari and Harry Winston are still receiving top dollar at auction.
- Time Period: The clean lines of pieces from the Art Deco time period are still popular.
- History: The provenance of the piece is still proving to be important to collectors. The Marie Antoinette jewelry auction at Sotheby’s and the Maharaja and Mughal jewelry auction at Christie’s both broke sales records.
What trends are you currently seeing with engagement rings?
As we are in the midst of engagement season (late November to February), these are the current trends:
- Popular shapes: Round brilliant-cut and oval-cut
- A resurgence of yellow gold engagement rings
- The diamond halo trend is waning and the classic solitaires and three-stone rings are becoming more popular. However, we are seeing some twists on these classic designs, such as 2-stone engagement rings and ‘hidden halos’, which are diamond halos on the upper gallery of a ring that can only be seen from a profile view.
Lauren Peck Fine Jewelry (LPFJ) is an appointment-only private jeweler based on Philadelphia’s Main Line. LPFJ creates and sells engagement rings, wedding bands, and original designs as well as offers jewelry redesign services. Lauren is also a graduate gemologist and fine jewelry appraiser. Please visit her website at laurenpeckfinejewelry.com for more information.
Please contact BAAM for assistance with appraisals and sales advice for your client’s jewelry. As jewelry auctions are typically held more frequently throughout the year than other specialty art auctions, BAAM will determine the best timing and location to sell the jewelry to help your clients realize the highest prices.