|
Legacy
Hot in Miami
The annual gathering of estate dealers in Miami offered a sunny general forecast for the estate market.
By Phyllis Schiller
|
Diamond, sapphire, ruby, emerald, yellow gold
and platinum fish brooch by Seaman Schepps,
circa 1950. Photograph by Alexander Shriner,
courtesy Camilla Dietz Bergeron, Ltd. |
A bright spot for the winter weary, The Original Miami Beach Antique Show was an attractive destination for the who’s who of the estate and antique jewelry market to buy, sell and take the pulse of what the upcoming months will bring. Now in its 52nd year, the event, held January 31 through February 4, bills itself as “the world’s largest indoor antique show.” In fact, this year’s show saw a 10 percent increase in attendance, with approximately 300 jewelry dealers showing their wares.
The show, states Diana Singer, D&E Singer, Inc., New York City, “is a microcosm of pretty much every aspect of the industry. There’s gold jewelry, estate jewelry, colored stones, diamonds, pearls. So if the Miami Beach show is strong, then that bodes well for the year to come.” And for many dealers, says Singer, it was a “really active and good show, which shows the strength of the industry.”
“It’s a fantastic hunting ground,” agrees Simon Teakle, Simon Teakle Fine Jewelry, Greenwich, Connecticut. “There is an energy to Miami Beach that puts people in a good mood, which I think is important.” From his perspective, Teakle sums up his experience there as “fabulous; it was a strong show. The people I spoke with and whom I do business with were pretty happy.”
According to Gus Davis, partner, Camilla Dietz Bergeron, Ltd., New York City, “the appetite and interest definitely has come back stronger. I think there is a little more confidence in buying. I don’t know if it means the economy is doing better or that people’s stocks are a little depleted and they need to replenish, but definitely the mood was that people were there to buy.”
“The show was in line with what we expected,” says Eric Bitz, vice president, David & Company in Chestnut Hill, Massachusetts. The variety of categories the show offers suits his business model, he notes, allowing him to do business not only within the estate and antique jewelry area but for uncut stones as well, including white and colored diamonds and colored gemstones. “It makes it a more interesting show. Colored stones, especially sapphires, were really strong, as were higher-end, more expensive diamonds.”
For the most part, it was business as usual, says Davis. “Signed, more important pieces were still very much in demand and strong sellers. I found the mid-range items were a little slow.”
Singer notes selling a spectacular Raymond Yard ring with a wonderful colored stone, along with “the usual suspects — antique pieces, platinum diamond pieces and signed pieces, which I knew were going to sell.” Along with Art Deco, she cites “a huge surge toward really hip and cool 1960s and 1970s jewelry. And coral — a lot of people were looking for coral and jade.”
Janet Levy, principal, J.&S.S. DeYoung, New York City, also sold a range of price points from lower-end gold pieces to some special items that she expected to sell well. “It was either something very special or something lower priced; the middle range is very soft. In fact, if you wanted to, you could be stockpiling some of the cute little 1950s pins because you can buy them at attractive prices. We sell in Asia, and although they want signed pieces, there seems to be a better secondary market there for nice’50s pieces at the right price.”
Anything that is fine quality and signed sold, continues Levy. “Art Deco, Edwardian are really strong. But even if it is from the 1950s or 1960s, if it’s a gorgeous Van Cleef piece, that’s also strong.” Teakle agreed. “I sold some lovely things that were not signed but they were really nice.”
At this show, dealers come to sell and to buy. Highlights for Bitz included the purchase of two “important” stones — a 17-carat, H, IF, type IIa diamond and a 14-carat unheated, cushion-cut Kashmir sapphire — “as well as South Sea pearls in 18 to 20 millimeters, of great quality, which you hardly ever see these days.”
While Davis says he made some purchases, he found “prices were very strong and I wasn’t able to buy much.” Teakle also bought, including “the most incredible suite of eighteenth-century topaz jewelry and a great Boucheron bracelet from the 1960s.” His criteria, he says, is not just the period. “It’s about style and quality and condition and finding things that are really interesting.”
“I think there are two criteria for a successful show,” continues Teakle. “As a seller, you have to have the quality of merchandise and be realistic about your prices. But as a buyer, if you see something really nice, you have to step up and buy it.”
“There are two different kinds of people in the industry,” says Singer. “The ‘value buyers’ have to see the price of something or else they don’t want to own it. The ‘look buyers’ are people who want a beautiful product and they don’t really care if it’s more expensive. You really have a cross section of everybody at this show.”
While Levy says people are trying to buy the best pieces and are stepping up for them, she feels they are spending their money carefully. “When they do spend it, they want to get something they feel will hold its value or be special enough to hold its attention in the future.”
Prices at the show were stronger than 2012, says Bitz, and people were sensitive to the fact. “But it didn’t make anyone shy away from looking at higher-end pieces.”
Although Davis calls himself “pessimistically optimistic,” he says he was pleasantly surprised at how strong the show was despite the financial crisis, “especially the high-end category. But I think we still need to be a little cautious and be positive and hope that some of these mid-range items will be selling soon.”
Levy predicts in the coming months “special pieces will continue to surprise us with their high prices and the rest of the market is going to be sluggish. That said, I also went to the Centurion show and met a lot of retailers. They’re still being cautious but coming out of two or three weak years, the ones who have survived are seeing a little bit of momentum. I don’t think anyone expects the market to be gangbusters. But the estate market is sure and steady.”
Bitz saw the show as a positive barometer. “The 2012 show was really great for everyone; it was rave reviews all around. But I think people had the same feeling this year as 2012. We did — we were happy with the show and are optimistic about what will come from the show for the next six months.”A bright spot for the winter weary, The Original Miami Beach
Antique Show was an attractive destination for the who’s who of the estate and
antique jewelry market to buy, sell and take the pulse of what the upcoming
months will bring. Now in its 52nd year, the event, held January 31 through
February 4, bills itself as “the world’s largest indoor antique show.” In fact,
this year’s show saw a 10 percent increase in attendance, with approximately
300 jewelry dealers showing their wares.Article from the Rapaport Magazine - March 2013. To subscribe click here.
|
|