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    All You Need to Know About Selling Jewellery at Auction

    When it comes to selling valuable jewellery, there are various options available, and one possible avenue is selling through auctions. However, before diving into the auction process, it is crucial to be well-informed and prepared. In this blog, we will discuss how to sell jewellery at an auction and essential things you must know before selling jewellery at auction to ensure there are no unpleasant surprises.

    Research

    Before choosing an auction house, conduct thorough research to identify reputable establishments with a track record of successful jewellery sales. Look for auction houses known for their expertise in jewellery. There are a significant number of auction houses that offer a jewellery selling service, but have no specialists to truly understand the value of a piece nor the clientele to sell to, so be careful to choose the right auction, as it could otherwise cost you dearly.  

    Reserve

    Auction houses will provide you with an auction ‘estimate,’ but be aware that this is what they hope the item will sell for, not always what they expect it to sell for. The key piece of information you should obtain and keep in mind when calculating the return you may receive on the sale of your item is the ‘Reserve price.’ This is the minimum amount they will let your item sell for, with the commission deducted from this figure. Items commonly do sell only for their ‘reserve price,’ so it is an important piece of information to consider and a figure you are happy to sell the item for if it comes to that. This reserve figure can be useful in providing you with a barometer of its value, should you want to compare the possibility of selling at auction and selling to either a jeweller or private individual.

     

    Cost

    Auction houses charge various fees and commissions, which can significantly impact the final amount you receive. Before you consign any items, make sure you understand these fees which often include listing fees, seller's commission, photography charges, marketing costs, and other administrative expenses. It is crucial to carefully review the auction house's terms and conditions to understand the financial implications and ensure you are comfortable with them. Some of these would also be payable if the item does not sell. It is often around 20 to 35% of the final price in charges for the sale of an item at auction.

    Time-frame

    Always clarify the timeline for the auction, how long it will be until the item is listed in an auction, along with confirmation of how long you will have to wait for settlement should the item sell at auction. Be prepared that from initial enquiry to potential payment, the process can be 3 to 6 months if it sells first time around, and even longer if it fails to sell.

    Bidding

    Many customers are drawn in by the possibility of competitive bidding that can happen at auction when more than one person is interested in the piece of jewellery, which can drive up the price achieved. However, this often does not happen unless the piece is a particular collectable and rare to get hold of. Auction houses may overstate the tendency for this to happen to encourage an item to be consigned to them.  

    Outcome

    Once an item has been consigned, hopefully the item will sell. However, the sale of the item is no guarantee. You should be prepared for the possible scenario of the item not selling in the auction, which is usually down to the reserve not being met. On some occasions an item can sell, but if the purchaser doesn’t pay, your item will be returned to you unsold. If the funds are being relied upon, alternative selling options may be more suitable.

    Privacy

    Auctions are public events, and the sale of your jewellery becomes a matter of public record. If privacy is a significant concern, an auction may not be the best choice for selling your jewellery.

    Alternative Options

    There are many alternatives to selling jewellery at auction, including by private sales to family, friends or listing online for another member of the public to purchase or selling to a reputable dealer or jeweller.

    Some of our recommendations when consigning an item at auction still apply if you are looking to sell to a jeweller, for example, doing research to ensure they have the expertise and market to be able to offer you the best price for your item. Also, consider the payment conditions, as some jewellers will purchase items outright on the day and others may want to sell the piece on your behalf, acting more like a broker so won't pay you until they have been paid.

    Here at Hatton Jewels, our international reach selling pre-owned and antique jewellery means we give the best prices possible that would usually exceed an auction return after commissions and fees. Any prices we offer are not subject to any fees or charges, so the price we offer is the amount you get paid. By selling directly to us, you will receive the true value of your item and with same-day payment, our process removes the unpredictability and timeframes at auction. Privacy is also our priority, with our private showroom and highly experienced team.

    Fill in our online selling form or send item details to us by email to info@hattonjewels.com or by WhatsApp on 07930 997298 and we will provide you with a provisional offer. This service is completely free and there is no obligation to sell to us. The process can be as little as 24 hours from your first enquiry to payment for the item.

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    Visit Us

    Hatton Jewels,
    5 Hatton Place,
    London,
    EC1N 8RU
    Opening Hours
    Monday to Friday 9:30am to 5:30pm
    We are open by appointment only:
    Evening and early morning appointments available upon request.
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    Terms and conditions of sale for Hatton Jewels

    These terms and conditions relate to the use of Hattonjewels.com website and any purchase from Hatton Jewels Ltd, Registration Number: 06241877, and whose Registered Office Address is 57-59 Queens Road, Buckhurst Hill, Essex, IG9 5BU

    Ordering

    All orders for Goods shall be deemed to be an offer by the Buyer to purchase Goods pursuant to these Terms and Conditions and are subject to acceptance by Hatton Jewels Ltd. Hatton Jewels may choose not to accept an order for any reason.

    When the item you wish to purchase is not available from stock you will be notified and given the option to either wait until the Goods are available from stock or cancel the order and receive a full refund within 30 days.

    Bespoke Items

    Items that are manufactured from our Build Your Own Rings range are not eligible for a full refund however a life time credit note will be issued for the full value of the item. If the item you received was a special order for a non-standard ring size* or if you ordered a Bespoke Item made to order, we regret that it can only be able to return it to us if it is faulty, as it will have been specially made and cannot be resold. *Standard Rings Sizes - Ladies I - O, Gents L - V

    Cancellation & Return

    We are confident you will be delighted with your Hatton Jewels purchase.

    However, you do have the option of returning items to us within 30 days of receipt for a full refund or exchange if you decide that the item is not right for you or the goods are faulty. We regret that we cannot offer refunds or exchanges on goods that have been worn, damaged or have had any alterations by a third party. Returned items can only be accepted if they are:

  • In the same condition they were received
  • With all original paperwork and documents
  • In the original packaging
  • Via the returns procedure detailed below
  • Failure to do so will result in the item being returned to you. Please complete the following procedure should you decide to make a return.
  • Call us on 0203 116 0069 or e-mail info@hattonjewels.com within 30 days from the receipt of your purchase. We will give you a unique authorisation code which you must write on the original invoice which you need to include in the package.

    Address your package to Hatton J Ltd, 5 Hatton Place, London, EC1N 8RU. For security reasons please do not write ‘Jewels’ anywhere on the outside of the package.

    Post the parcel using the Special Delivery service available at the post office. We recommend that you obtain proof of posting. We cannot be held responsible for any items that are lost in transit.

    Once your package has been received by Hatton Jewels Ltd it will be assessed to verify that the item has been returned in the original condition. Once verified a full refund or exchange will then be issued.

    Delivery

    Every effort is made to deliver your purchase as swiftly as possible. You will be sent a confirmation of delivery date at the time your order is confirmed.

    For items that are in stock we aim to deliver to you within 5-7 days. If we cannot deliver within the agreed time we will notify you immediately and with your agreement arrange an alternative date. Items listed under 'Express Delivery' are items which are currently in stock and can be delivered within 5-7 days. Depending on the rate at which the payment clears, we might be able to deliver it to you sooner.

    All items dispatched are fully covered by insurance whilst in transit, and must be signed for on delivery. At this point they become the property of the purchaser and our insurance no longer applies. Please be satisfied that the parcel has in no way been tampered with in transit before accepting delivery.

    Hatton Jewels Ltd shall not be liable for any delay or failure to perform any of its obligations or promises if the delay or failure results from events or circumstances outside its reasonable control.

    Information on our website

    Whilst we make every attempt to ensure that our online catalogue is as accurate as possible errors can occur. Prices are subject to change without notice and will be confirmed upon receipt of your order. We may alter images for presentation purposes. Colour and size may vary slightly due to different monitors.

    If a product is not in stock and we are able to replicate it, this does not apply to antique pieces, Hatton Jewels guarantee the carat weight listed on the product as minimum and guarantee the same quality of gemstone, metal and workmanship for the order placed.

    Lifetime Warranty

    All Hatton Jewels handmade pieces come complete with a lifetime manufacturer’s warranty that covers any manufacturing defects and any necessary repair will be conducted free of charge under the following terms and conditions:

  • The item is identified by our production department as being defective as a result of a manufacturing default.
  • The item has not had any damage as a result of mishandling or Inappropriate impact (eg. knocks, dents or pressure), and has had no alteration, manipulation, repair or care by a service provider apart from ourselves or is the consequence of normal wear and tear.
  • Proof of purchase must be presented.
  • This does not apply on antique pieces or signed jewellery.
  • In order to ensure all stones are secure within your piece we advise having your piece checked by a jeweller at regular intervals.

    If purchased from ourselves even if not covered by guarantee we endeavour to resolve at the lowest price possible

    Repairs and Alterations

    All repairs on jewellery that has not been purchased through Hatton Jewels are completed at the customer’s risk. We will guarantee the specific work we complete for 1 year.

    Complaints

    If you have a complaint or concern please contact:

    Hatton Jewels Ltd

    5 Hatton Place
    London
    EC1N 8RU
    Tel: 0203 116 0069
    e-mail : info@hattonjewels.com