JNA Nov/ Dec 2020

14 | JNA Nov/Dec 2020 SPECIAL FEATURES Online auctions are also an effective way to engage with Bonhams’ existing clients while the shelter-in- place policy is enforced, and to attract new customers, especially the younger, digitally savvy collector. The auction house is likewise implementing a 24-hour digital consignment hub, “Sell with Bonhams,” where clients can have an item valued remotely by a specialist; as well as an extended digital private sale platform, which allows consumers to buy and sell anonymously outside of the auction route. Sotheby’s meanwhile expanded its digital infrastructure early this year due to pandemic-led travel restrictions. As of August, it had held 23 online jewellery auctions globally, totaling US$31 million – a seven-fold increase from last year, according to Wenhao Yu, deputy chairman at Sotheby’s Asia’s jewellery department. Customers are becoming more comfortable with bidding electronically at digital auctions, even for big- ticket items, stated Yu. In April 2020, Sotheby’s sold Cartier’s Tutti Frutti bracelet for US$1.3 million – a record price for any jewellery sold online. Most recently in October, the auction house saw the highest-value bid ever placed on a jewellery online – HK$85 million (around US$10.97 million) for a 102.39-carat D-colour flawless oval diamond. The diamond was eventually sold to a phone bidder for a final price of HK$121.56 million (around US$15.7 million). These results reflect the resilience and strength of the jewellery sector amid adversity, revealed Yu. Despite a wave of caution permeating the jewellery and gemstone trade, Christie’s also experienced robust bidding activity at its 2020 auctions. Christie’s International Head of Jewellery Rahul Kadakia said there was a surge in online auctions to sustain the market’s buying momentum alongside a rise in lots offered with a wider range of estimates to cater to global buyers. “Clients are more willing to buy pricier lots online, demonstrated by the record-breaking 28.86-carat D-colour diamond, which sold for a record US$2.1 million at our online sale in June,” disclosed Kadakia. “A total of 31 bids were placed over the course of two weeks, with clients bidding from Asia to the US – not one of them had seen the stone. This emphasises the importance of Christie’s digital platform.” Lessons and emerging trends UK-based auction house Fellows saw the Covid-19 crisis as an opportunity to enhance its online initiatives. At the height of the pandemic, the auction house started hosting virtual viewings and valuations via Zoom, according to Nicola Whittaker, business development manager at Fellows. Founded in Birmingham in 1876, Fellows is a family- run firm of auctioneers and valuers. It holds more than 100 auctions a year, with specialist watch and jewellery sales becoming increasingly popular. Whittaker said since buyers could not physically view jewellery lots, the company provided them with in-depth product descriptions, accurate condition reports and high-res product images. Fellows also made its free postage and packaging service more efficient. In the majority of cases, bidders who win items on a Thursday and pay for those on Thursday night or Friday Morning will receive the goods on Saturday. Fellows A pair of emerald and diamond earrings by Graff, which was sold by Phillips at an online auction in May An 8.83-carat no-oil emerald and diamond ring sold by Bonhams in July 富藝斯 5 月在線上拍賣會上售出的格拉夫祖母綠配鑽石耳環；邦瀚斯 7 月售出的 8.33 克拉無油祖母綠配鑽石戒指