Auction Exec April Matteini on Sourcing Engagement Rings Through the Saleroom

What types of engagement rings represent the best buying opportunities at auction today? 

The Freeman’s jewelry department holds 16 auctions per year. These sales are largely distinguished by value parameters, but not always. It is worth perusing each auction. Diamonds in the 1- to 2-carat range, and even ones just under 1 carat, are still in a buyer’s market. And with all of the attention that colored diamonds seem to be garnering in the primary market, interesting-colored diamonds at approachable price points can still be won at auction.  

What trends have you seen in demand over the past five years for engagement rings? Are buyers gravitating toward certain cuts, periods, designers, or gemstone combinations? 

In the years since the pandemic, demand for diamonds weighing 10 carats or more has been strong. Size, more than shape, has been the primary driver in our market. A few names in the engagement-ring market are always in demand: Tiffany & Co., Harry Winston, and Graff. Private clients are more likely to buy a signed ring, because it adds an extra layer of assurance to their purchase.  

In 2025, our top diamond lot was a 13.11-carat, oval-brilliant-cut diamond ring by Graff that sold for $368,800. In June, a 19.12-carat, F-color, SI1-clarity, elongated emerald-cut diamond realized $480,000. Elongated shapes are definitely the latest trend, even for buyers who are not necessarily Taylor Swift fans [or aware of her trendsetting vintage engagement ring].  

What’s one trend or opportunity in the engagement-ring auction market that you think the wider jewelry trade hasn’t fully recognized yet? 

I am a fan of old European and old mine-cut diamonds. While those stones have seen a rise in popularity, many are modern diamonds cut in the antique style. Older-cut diamonds are often lower in color and clarity than what is generally considered for bridal, but the gorgeous, intricate mountings make the ring a unique piece of jewelry. No other bride will have exactly the same ring, and it is up to the industry to properly convey its significance in jewelry history to the prospective buyer.  

Looking ahead three to five years, how do you expect auctions’ role in the engagement-ring market to evolve? 

Education. Freeman’s is always working to demystify the auction process for anyone curious about bidding and buying. As experience-oriented Gen Z-ers become engaged, I hope that buying at auction becomes part of their journey. I am optimistic about the future of natural-diamond engagement rings.  

If you could give one piece of advice to a jeweler looking to incorporate auction sourcing into their business – not just for bridal, but in general – what would it be?  

It seems obvious, but always ask for a condition report if you cannot view the jewelry in person. Request photos of the pieces being worn, and the specialist’s overall opinion. Speaking of diamonds, not every stone coming up for auction has a Gemological Institute of America (GIA) cert, and this may give an experienced jeweler a competitive edge.  

Freeman’s also sells diamonds in our monthly Essential Jewelry auctions. Always check the online sales, particularly if you are looking for a diamond in the 1- to 2-carat range. Auctions are a terrific source for unusual or antique pieces that are great conversation-starters. 

Are there characteristics beyond the stone itself that jewelers should be paying more attention to when sourcing an engagement ring at auction? 

Yes, the mounting is definitely something to consider. Antique and early 20th-century mountings often feature exquisite, delicate details that are not easy to find in new manufacture. Late 19th-century crown heads are so elegant, and the openwork and millegrain accents on platinum Art Deco mountings can be an easy selling point for a jeweler. 

How should a trade buyer think about an auction estimate? 

The presale estimate is always a range and reflects our opinion – based on research and gemological testing – of where Freeman’s thinks the item might sell. Any interested buyer should do their own math, remembering that a buyer’s premium is applied to the hammer price (final bid price) at auction. Also, speak with a specialist in the jewelry department and ask for a condition report. We are always happy to answer questions, explain our thinking behind any estimate, and receive feedback. The estimate is a guide with a floor but no ceiling. 

What is the most endearing engagement ring you have seen at Freeman’s? 

Personally I love finding engravings inside antique pieces, but I understand that might not appeal to everyone. The toi et moi ring is gaining in popularity again. This is a two-stone ring that symbolizes a union when given as a promise ring. Sometimes it is a pair of diamonds, but it doesn’t have to be. One of my favorites was an emerald-cut diamond and a Colombian emerald ring. It is also a great way for a jeweler to sell two principal stones in one ring. 

Main image: April Matteini. (Freeman’s)