How diamonds found new ways to shine and entertain us during and after Covid – The Excited Words and Work of a Jewellery Auctioneer

Having Fun in psychedelic colours Bell Bottom Trousers
Bell bottom trousers we wore – at this 70ies-themed Gala Dinner and fundraiser auction organized by Innocence in Danger. I met Benoît in Gstaad on March 6, 2020, the very last day before COVID put an end to the party season.
Suddenly, no more champagne, no more colourful outfits, no more live auctions. Diamonds are forever. But diamonds sitting in the safe forever and us sitting on the couch forever did not feel fun at all. Even pearls dry out when not worn.
However, the desire for beauty and fun is one thing the pandemic could not stop. And people could not deny it. Shopping while sitting on the sofa had already been popular for a while. As ordinary objects sneaked into high-end auction houses for sale, money saved up for travels was hoped to be spent elsewhere. And yet the shift from “live” auctions to stay-at-home bidding did not happen overnight.

Get them to raise the paddles on the couch
“In the past, clients were quite reticent to the online experience and of the idea of following an auction on a computer”, recalls Benoît Repellin, Worldwide Head of Jewellery at Phillips.

“I remember sending links to clients and receiving a simple answer: if it’s an online sale, I am not interested. People had this notion that the online auction was where the lower value items were offered, the “dumping ground” of the proper live auctions.”
Auction houses were forced to reinvent the online experience. “We even had live auctions with no clients in the room”, remembers Benoît Repellin, “So, I was standing on the rostrum in front of an empty room, with colleagues on the phone bank bidding on behalf of clients, and then the online bidders. It was a strange feeling I felt being with just colleagues. Sometimes I forgot that clients were watching, and they could hear everything that was said in the auction room.”

Après-Ski & Popcorn Bidding
Today, auction apps are very much used by clients as it allows them to bid anywhere in the world – you only need a proper internet connection. “So, on the slopes, during the après-ski (and after a few drinks), people can leave bids”, adds Repellin.
Online sales are usually open for bidding for about a week’s time. Strangely, clients all login and bid at the opening on the first day. Nothing happens then until the very last minute.
“Popcorn bidding”, Benoît Repellin calls it, where clients suddenly all come and follow the online sale closing (with or without popcorn in hand). Closing times for each lot are scheduled a minute apart. However, if a client makes a bid during this last minute, the closing time automatically extends for a few minutes. Every bid popping up resets the clock and gives the bidders who were outbid the opportunity to rebid. Some lots may take half an hour before eventually selling.

The excitement of bidding battles
The real bidding battle in a classic live auction room still steals the show. Rebounding from the couch, people happily went back to travelling and visiting the auction rooms. Getting the feel of the room, having a drink, seeing the bids coming in and raising the paddle when they feel like it – taking part in some bidding battles.
“It is much nicer for the auctioneer, I must say!” exclaims Benoît Repellin enthusiastically. “Taking bids from the room, the phones and online at the same time makes it much more entertaining.”

The Journey of the Jewel
Benoît Repellin’s love for his work makes one want to go and explore….

“It is very exciting for me to follow the journey of the jewel, from the discovery, and the treasure hunting part, to the auction, when a jewel will enter a new collection and start a new chapter. We see a growing interest in signed pieces for jewels that are typical of an era. More and more clients see jewellery as a collectable category. They want to build a collection, with the evolution of the history of jewels, with pieces from different Maisons and important gems. It is wonderful to get pieces of art that one can wear and enjoy every day!”

Gstaad’s Winter Magic
Although travelling the world, the auctioneer has plans to come and enjoy the Gstaad winter magical atmosphere. Paying a visit to his colleague Clément Finet at the Phillips Perpetual salon at the Palace hotel, which is showcasing some famous horology, Benoît loves the ski slopes and dreams of spending a lovely time with friends at the chalet.

GISELA VAN BULCK

FUN FACT!
2022 SAW THE RAISE OF THE HIGH-VALUE PADDLE
2 stories behind a year of epic auctions, record-setting sales and memorable masterpieces at Christie’s auction house. One of these was the biggest sale in auction history, the Paul G. Allen Collection. Here are some of the numbers that have made this such an extraordinary year.

Only one single-owner sale has surpassed the $1 billion mark: The Paul G. Allen Collection. After two days of sales on 9 and 10 November, artworks owned by the co-founder of Microsoft realised CHF 1,614,660,682. This was the most valuable private collection ever assembled, with works ranging from the Renaissance to cutting-edge of contemporary art. All proceeds were directed towards philanthropic causes.
The largest pear-shaped, vivid pink diamond ever to appear at auction weighs 18.18 carats. The stone is known as the ‘Fortune Pink’, and its mass is auspicious - the number symbolises ‘definite prosperity’ in Asia. It toured Shanghai, Taiwan and Singapore before selling in Geneva for CHF 28,436,500 on 8 November.