High demand for jewellery and watches brings record results at auction
A suite of gold and precious stone jewellery, a heritage necklace and sought after military watches collected by a Northampton-based enthusiast were highlights in a Market Harborough auction house’s best ever Jewellery & Watches sale in the week global gold prices hit a record high.
The auction of over 800 watches and items of jewellery took place on Tuesday 30th September and Wednesday 1st October at Gildings Auctioneers in Market Harborough. It achieved a hammer total of £319,343, surpassing the firm’s previous specialist Jewellery & Watches auction record by £50,000 and beating its pre-sale estimate of £250,000 by over £69,000.
“We’re delighted with these results, which are underpinned by the unprecedented market strength of gold, silver and precious metals,” comments Gildings director Will Gilding. “We started our quarterly specialist Jewellery & Watches auctions in 2023 due to increasing demand, and they have gone from strength to strength, with this sale showing that right now is a golden opportunity for those considering selling at auction.”
The top lot in the auction was a suite of 18 carat gold natural yellow sapphire and diamond jewellery by René Boivin. The intricately floral-patterned brooch and earrings showcased the creativity and fine craftsmanship the Parisian jewellery house was renowned for and sold at the upper guide price of £15,000.
Watches in the auction ranged from collectable military timepieces to fine gold dress watches from iconic names. A rare Buren ‘Dirty Dozen’ Grand Prix wristwatch sparked a bidding battle to more than double its estimate of £200 - £300, selling for £750 to a collector determined to acquire an example of this iconic WW2 watch design. A military Hamilton ‘Fab Four’ chronograph wristwatch, issued to the Royal Navy in the 1970s also exceeded expectations, selling for £1,600 against an estimate of £800 - £1,200.
In the luxury category, a ladies’ Longines DolceVita 18 carat gold wristwatch and a Cartier Tortue 18 carat yellow gold wristwatch attracted bids of £3,500 and £6,000. The current demand for gold was clear across the board with a charm bracelet selling for £3,800 and a 1970s yellow gold fringe necklace achieving £2,800.
Scandinavian design was another key trend in the auction with a large collection of Georg Jensen silver jewellery selling for up to £750 for a necklace. A blue enamel butterfly brooch designed by the Norwegian artist Marius Hammer flew away for £260 against an estimate of £60 - £90.
Antique Arts & Crafts jewellery was also hugely popular, with a 19th century ‘Guild of Handicrafts’ enamel and pearl necklace achieving £1,900 against an estimated £700 - £1000 despite some damage. A multi gemstone brooch and a black opal ring by the designer Sibyl Dunlop also attracted brisk bidding to make £550 and £650 respectively.
“While this is a fantastic time to sell at auction, it also remains an exciting, sustainable and savvy way to shop if you’re looking to buy,” adds Will. “Despite demand, prices will always remain highly competitive compared to the high street, whether you’re looking for modern diamonds, antique gemstones or something more budget-friendly that catches your eye.”
The current demand for precious metals extends beyond jewellery, with several examples of fine silverware expected to attract great interest in Gildings’ Art & Antiques Auction on October 14th, including a novelty silver claret jug in the form of a bear which is expected to sell for between £5,000 - £8,000.
You can arrange a free no-obligation valuation ahead of the next Jewellery & Watches auction and see this week’s sale results and information about upcoming auctions at www.gildings.co.uk