If you wish to sell jewellery it is important to consider the various ways and pitfalls in doing so and to understand any charges that could be deducted from the proceeds of sale. The two main methods in selling jewellery are through a dealer such as us or through an auction house.
We are always looking for the finest quality items for our own stock. We also have access to an international buyer’s network of private collectors, dealers and museums. This is also an advantage if the client does not wish to sell jewellery in the London market. The client’s jewellery would be insured by us for all risks at the agreed selling price. Unlike auctions, there are no deductions whatsoever for insurance, commission, handling, photography etc.
At McKenna & Co we are full members of LAPADA, The Association of Art & Antique Dealers, and NAJ, The National Association of Jewellers of Great Britain & Ireland. Unlike auction houses we must abide by the strict codes of conduct of these professional trade associations. Typically auction houses will only insure jewellery against loss etc for the lowest auction estimate. Auction houses will also routinely charge both buyers and sellers a premium of approximately 25% or more of the hammer price, plus VAT. Further charges can be levied for photography, cataloguing and handling, as well as for insurance. The total charges made by auction houses can therefore considerably exceed 40%. The whole process from initial consignment to final receipt of net proceeds can take many months. Should an item fail to sell, charges will almost certainly still be payable. Auction houses can however be the most suitable method of sale in certain cases e.g. where it is very difficult to value an item, or in the case of a probate sale.
The great advantage in selling to us is speed, discretion, absolute confidentiality and immediate payment by bank transfer.
Please contact us on +44 (0)20 7584 1966 in complete confidence to discuss any aspects of selling jewellery to us.