Better Than Expected

RAPAPORT… Virtually everything is “better than expected” when the subject is antique and estate jewelry. At least that was the most frequent response from exhibitors at the recent Las Vegas Antique Jewelry & Watch Show, held from June 3 to 6 at the MGM Grand Hotel.

The annual four-day event, which ran concurrently with JCK and Couture, offered a roster of more than 300 exhibitors from around the world showing gemstones, fine and fashion jewelry and watches from all eras. Generally, said dealers, the most popular time period is the first quarter of the twentieth century, comprising the Edwardian, Art Deco and Belle Époque periods. However, at this year’s show, a number of dealers reported new interest in eras such as the 1960s and 1970s, known for bolder, more statement-making designs. Jewelry by David Webb was especially in demand, as were fairly recent styles from Tiffany & Co. designers Paloma Picasso and Frank Geary.

Traffic was brisk, said exhibitors, and shoppers bought with conviction when they found just what they wanted. However, most buyers opted for “lots of smaller pieces” rather than single, important, $100,000 pieces. The shoppers at this show were mostly dealers, jewelers and antique storeowners. “Buyers are holding back,” said Max Färber, Thomas Faerber, Switzerland. “They are not as hungry as they were two years ago.” He cited Indians and Europeans as major buyers this time around.

“Buyers focused on signed pieces or those with a signature look,” said Sara Payne Thomeier, vice president at ProVockative Gems, New York City. She cited David Webb along with other brands with an identifiable image as best sellers. In addition to Webb, other notable brands mentioned by a number of exhibitors included Cartier, Van Cleef & Arpels, Bulgari, Buccellati and Gucci — in other words, “universally collectible” signatures.

Olivia Garay Vintage Jewelry, New York City, offered a blend of high-fashion costume jewelry and fine jewelry. Best-selling fashion brands for her included Chanel, Kenneth Jay Lane, Miriam Haskell and Bakelite pieces, as well as modern Steven Dweck and Hermes pieces. Also popular were Seaman Schepps pieces from the 1940s.

Diamonds Sold Well

On average, diamonds sold better than anticipated, and antique cuts were most popular, including old mine and rose cuts, antique cushions, Asschers and single cuts in a range of sizes, from just over 1 carat to more than 5 carats. Some dealers reported growing interest in round diamonds of more than 2 carats and fancy color diamonds.

“We sold mostly diamonds, in modern as well as old European cuts,” said Walter Englebert, McTeigue Since 1895, New York City. Best-selling cuts for McTeigue were rounds, emerald cuts and natural yellow radiants. John T. Haynes, Dallas, reported strong sales of 4-carat to 6-carat goods, as well as a pair of 7-carat cushion-cut earrings.

Single Stone, Los Angeles, which bills itself as the “largest vintage engagement ring supplier,” specializes in antique and reproduction diamond engagement rings. Ari Madilian, principal, reported strong sales at the Las Vegas show of larger engagement rings in 1.75 carats to 3 carats in I to K color and VS2 to SI1 clarity. Sales included actual antiques as well as refurbished designs and new rings incorporating old components. Overall, retailers shopping this show were looking for bigger pieces, Madilian noted. But outside the show, buyers are trading down in size.

Very Fine Color in Demand

Colored gemstone jewelry was also a strong category, but the color had to be very fine, said exhibitors. Colombian emeralds, Burma peridots and unheated rubies were among the top sellers at John T. Haynes. “Most of our sales were to dealers,” said Haynes. “We try to have things that can’t be duplicated.” His local Texas audience likes big bold jewelry, à la David Webb. “Webb’s older pieces bring extraordinary amounts of money,” he said, noting that he sold a quarter million dollars worth of Webb jewelry on the show’s first day.

“We are in the recovery phase, so people are buying better merchandise,” commented Donald Stone from Pierre/Famille, Aspen, Colorado. “However, they are pulling back on higher pieces if they are not signed.” He said many of his customers were buying now and putting pieces aside for holiday selling. Others are stocking up for right now because they expect strong summer sales. This year, his company sold many designs with platinum on top and gold underneath. “Later Art Deco designers discovered the uniqueness and beauty of platinum,” he explained.

Windsor Jewelers, New York City, showcased a very large collection of jewelry from Henry Dunay, whose company recently declared bankruptcy. The pieces, which included bold colored gemstone rings and heavy, handmade woven gold pieces with the designer’s signature Sabi and faceted finishes, sold briskly, according to company principal Paul Lubetsky. “The business has changed and people are buying lots of closeouts,” he continued. “The demand for brands at discount has been huge and that’s the reason that this show was so good.” He added that his company is planning trunk shows with high-end stores to sell the balance of his designer goods.