Auction house Sotheby's says that despite the corona virus pandemic, their online auctions have been a tremendous success with over 90% of the lots on offer sold and over 60% of them selling at prices that exceeded estimate prices, totaling US$6.1 milion.
Image credit: Sotheby's
Catharine Becket, "magnificent jewels" expert at the auction house was quoted as saying that wealthy clients in a pandemic lead a dull life in quarantine at home, and buying an exclusive, bespoke or prestigious item represents joy and hope for them to return to their usual way of life.
As per a report by industry magazine Diamond Loupe, in addition to the fact that Sotheby's online sales are doing so well, they show that customers are more comfortable buying jewelry online, even for a high price.
During its April sales Sotheby's continues offering a wide range of jewellery for every taste.
"With iconic signed jewels, vibrant and eye-catching gemstones, and covetable vintage and antique jewelry, there is truly something for everyone," it said.
Alex Shishlo, Editor of the Rough&Polished European Bureau
