Strong auction results for Fellows despite ‘Brexit anxiety’

Fellows Auctioneers has reported an “impressive” hammer sale of £276,976 at its jewellery auction held on Thursday, 7 July.

More than 1,500 lots were available at the sale with 72% being told. The auction house said the most “encouraging” thing was the comparison with its sale two weeks earlier – while there was an additional 258 lots in yesterday’s sale, there was a 200% increase in the hammer price.

The company said sales reflected “healthy” increases in gold and diamond prices in the last few days, along with the falling pound which attracted US and European buyers.

Some estimates fetched far more than their asking price, such as an 18ct gold sapphire and diamond cluster ring, which was estimated between £120 and £180 and sold for £460.

Stephen Whittaker, managing director, said: “Whilst the current uncertainty may deter some buyers, the exchange rates are providing opportunities for purchasers from abroad to acquire a wide variety of items from jewellery to watches, and fine art to designer handbags.”