It seems timed online auctions are here to stay if our April sale is anything to go by as strong prices for silver and jewellery continue.
The timed auction format was previously employed after a regular sale to clear unsold items on the online catalogue but since the beginning of the pandemic Sotheby's and Christie's quickly moved them centre stage as viewings and salerooms were shutdown. And since our regular sale venue, Wokingham Town Hall has remained closed we decided to also try this format.
Online catalogues are enhanced with more complete descriptions, multiple photos and condition reports giving browsers confidence to leave bids remotely. And spreading the sale typically over 7-10 days allows buyers greater flexibility.
Another added feature is the buy-it-now option whereby a lot (not every lot is given this option) can be taken out of the sale at the higher price point of the estimate. Wokingham Auctions now sell 25% on average each sale with this option, which is good news for buyers.
Our star Lots were a diamond ring with a 1.65 carat central stone estimated at £4,000-8,000 sold for £8,300 (including fees); an emerald and diamond cluster ring (see photo) with an estimate of £500-1000 made £2,600 and a Victorian gold cigarette case made £1,500.
Our weekly valuation sessions have now resumed so click on the Valuations tab above for a venue and time near you.
Full catalogue and results of our April auction click: https://bit.ly/3suFwkn