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Thu July 25 2013 15:20:51

Christie's Summer Jewels Auction: An Online-Only First

By: Julia Wilkinson

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Christie's is holding its first online-only Summer Jewels Auction from July 17 to July 26th. Could this portend more such online-only sales for the renowned auction house?

The sale features over 100 pieces from such as designers Lily Gabriella Elia, of Monaco; and Olivia Wildenstein, of Paris; "world travelers who attribute the uniqueness of their collections to their wanderslust and love for art," according to Christie's. Also in the sale are pieces from Marina B, Roberto Coin and Salavetti.

Among the beauties being offered:

- An amethyst, diamond and gold necklace by designer Lily Gabriella, expected to fetch from $3,500 to $4,500:

- A citrine and diamond "bonbon" ring; Keemee by Olivia Wildenstein:

François Curiel, Chairman of Christie’s Jewelry Department, called this online-only sale "an exciting new venture for us at Christie’s," and hailed Lily Gabriella Elia and Keemee designer Olivia Wildenstein as among "the young shining stars working within the jewelry world today.”

According to Christie's, highlights of Elia's collection include a diamond pendant necklace (estimate: $4,000 – 5,000), an 18K white gold and diamond ring inspired by Elia’s South American heritage (estimate: $2,800 – 3,800) and the aforementioned amethyst, diamond and gold necklace (estimate: $3,500 – 4,500)

Wildenstein "developed her eye for accessories after an internship with Oscar de la Renta thus leading to her creation of gem-set jewelry," according to Christie's. Her  creations are comprised of rounded and organic jewels worked in 18K gold, diamonds and cultured pearls.  Among her top piece, in addition to the citrine and diamond ‘Bonbon’ ring (estimate: $1,000 – 1,500), are a garnet and diamond ‘Bonbon’ ring (estimate: $1,000 – 1,500), and a pair of cultured pearl and diamond “Coeurs Enlacés” ear pendants (estimate: $6,000 – 8,000).

Do you think top auction houses like Christie's should hold more online-only sales? Have you ever attended a Christie's or other major auction, and what was your experience like? Post a comment here!




Comments (10) | Permalink

Readers Comments

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

This user has validated their user name. by: Philip Cohen
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Thu Jul 25 17:18:40 2013

The only question is, will the shill bidding fraud be as endemic on Christies' online auctions as it is on eBay's?

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

by: FREDDY This user has validated their user name.

Fri Jul 26 08:16:32 2013

Years ago attended. Did not care for it as it was too stiff. Guess not used to hanging around those with the big bucks.
Do not like the idea of starting an auction on what the house thinks it's minimum worth is. More than one item did not receive a bid due to this. Reserved pricing?.
Same holds true to the classic car auction. Only exciting when it is the ones you are interested and bidding on. A lot of down time or socializing.
Best auction I ever attended was a good old fashion country farm auction.  About 6 hrs of non stop fun.  

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

This user has validated their user name. by: Basset

Fri Jul 26 18:47:43 2013

I agree with Freddy - nothing is more exciting than a good ole farm auction!

Win a big boxes of stuff for one money. Then go home and sort through it all to find the unexpected prizes that were laying underneath the one thing you bought the box for!

Made standing in the snow, rain, or scorching sun worth it all!

And if you were really lucky, they sold baked goods!  

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

by: Bloggo This user has validated their user name.

Fri Jul 26 18:50:32 2013

It's doubtful that Christie's has a significant shill bidding problem. They care about their long-term reputation, unlike a certain other whose name need not be repeated.

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

This user has validated their user name. by: Philip Cohen
Web Site

Fri Jul 26 19:36:08 2013

@Bloggo,

Please, don't be so naïve; they don't go around advertising their criminal activities; the shenanigans practiced by some (many? All?) prominent auction houses has been well documented over the years; most, if not all, auction house will shill the bidding up to any reserve price, particularly when they are selling stuff that they themselves own; and, maybe you have forgotten, but both Christies and Sotherbys, not too many years ago, got done over for colluding to set commission rates ...

Ho, Ho, Ho, you really think eBay is the only unscrupulous "auctioneer" on the planet; the only thing that is different between the rest and eBay is that eBay’s criminality is quite easily demonstrable ...

The only thing that matters to commercial entities in the money—all they can get their hands on; and many aren’t adverse to a little criminal activity to maximize their return on investment …

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

by: Digmen1 This user has validated their user name.
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Sat Jul 27 15:30:54 2013

I'm with you Phil
We had a big used car dealer listing on our Trademe site here in NZ.
They just got banned for shill bidding.

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

by: Bloggo This user has validated their user name.

Sat Jul 27 20:39:09 2013

I'm not naive and never said anything about anyone else being a Saint.  

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

This user has validated their user name. by: Philip Cohen
Web Site

Sat Jul 27 21:53:47 2013

@Bloggo,

I’ll simply repeat your statement: “It's doubtful that Christie's has a significant shill bidding problem. They care about their long-term reputation, …”

First of all an auctioneer at a traditional auction, assuming that the auctioneer is not him/herself doing the shill bidding, cannot stop a vendor’s representative from shill bidding at least up to any reserve. Regardless, it is virtually impossible to prove shill bidding at a traditional auction. And, like eBay, all Christies cares about is maximizing their commission on sales …

The situation becomes even more extreme when the auction house is selling items that, undisclosed, they themselves own; then, genuine bidders definitely will be bidding against the house until the price reaches that which the house wants. In Australia, major pieces of collectible art have been documented as being “sold” repeatedly by a major auction house. Indeed, the higher the value of the item, the more likely the auction will have artificial bidding at some point. Anyone that thinks/assumes otherwise is, indeed, naïve …

And, “The band continued to play on, even as the bow dipped lower and lower.”—The Titanic/eBay Story ... http://bit.ly/YvxFEg

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

by: Bloggo This user has validated their user name.

Sat Jul 27 22:39:46 2013

I'm sorry you have a reading comprehension problem.
"It's doubtful that Christie's has a significant shill bidding problem." does NOT equal NO shill bidding problem.

Christie's Summer Jewels Auction: An Online-Only First   Christie's Summer Jewels Auction: An Online-Only First

by: Bloggo This user has validated their user name.

Sat Jul 27 22:51:24 2013

Tell your well-heeled friends there's no difference.

Jun 20, 2013 - A painting by Claude Monet fetched $30.8 million at a Sotheby's auction in London.
or
''Find a great selection of Monet Paintings deals on eBay!''



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