RAPAPORT... Buxbaum Jewelry Advisors (BJA) expects to hold three private wholesale auctions in New York per year after having concluded two successful sales in April and May. BJA's future auctions will feature loose diamonds, diamond bridal, diamond fashion, diamond basics, and watches, along with precious, semi-precious color and gold jewelry, as well as estate jewelry.
“Our intention is to provide opportunistic value buyers the convenience of bidding on a breadth of merchandise in one location,” said Michael Lebowitz, the vice president of BJA. “Depending on the nature of the inventories, viewings could potentially be staged on both the East and West Coasts in advance of the New York auctions.”
BJA auctioned antique and estate jewelry from E. Lee Martin Inc. in April, with the entire 2,000-plus piece inventory ultimately sold to a joint venture of industry veterans from the New York Diamond District, according to the firm. During the May sale, BJA brought together lots from various retail, wholesale, and manufacturing sources. The auction concluded with three lots being sold to the highest bidder, including one with over 1,600 pieces from a Canadian manufacturer.