T&T EXPERTS

CONVERSATIONS WITH WOMEN WHO ARE EXPERTS IN THEIR FIELDS

THE EXPERT

Lucy Grogan Edwards |Vice President & Jewelry Director | Grogan & Company, Fine Art and Jewelry Auctioneers

Can you tell us a little bit about yourself and your background in appraisals/auctions?

I grew up in the auction business and like many children of family businesses, was determined to make a career doing anything but! Fast forward to my first art history class in college (“just to fill my art requirement”), and I immediately fell for the subject. I majored in art history and spent my first few years after college working for a museum, then a gallery, and finally an auction house (not my family’s). By then, it was clear to me that the auction world was where I wanted to be, and I was finally self-aware enough to realize that joining the family business might not be the worst thing and actually a great decision. It was at this point that I decided to combine my lifelong passion for jewelry with a career in the auction world by enrolling at the Gemological Institute of America. That was in 2013. I formally established our company’s jewelry department in 2014, and here we are!

You evaluate antique jewelry every day, what is your favorite era of jewelry design?

That’s like picking a favorite child, which I’ve heard all parents secretly have…so I’ll give you mine: Retro jewelry of the 1940s. The bold geometric chunky designs from that period slay me! 

What is your favorite piece that you've appraised thus far?

Rather than a favorite piece (there are too many!), I have a favorite collection: that of a deceased woman whose 90-year-old widower sat with me throughout the whole appraisal and told me stories about each piece, i.e. where they were when they purchased it, on what occasions she wore it, etc. It is often the stories behind the pieces – and the people who wore them – that make them so priceless.  

What is the piece that you kick yourself for not buying for yourself?

A Retro bicolor gold chunky link bracelet. The one that got away! I still have my eye out for another one.

Any tips for someone interested in purchasing an antique engagement ring?

Start your search early! Especially if you’re hoping to buy at auction. Antique engagement rings are one of a kind wonders and it can take time to find your perfect one.

Of the four C's, which do you think is the most important? Which one is the least?

It’s impossible to rank their importance, but I think the most underrated is “cut.” A well-cut stone’s brilliance and sparkle can make up for (almost) any flaw, while a poor cut stone, no matter how white and clean, can appear flat and lifeless. And while I would never say “color” is least important, I do think it’s the most forgiving of the four C’s.  

What stones are timeless in your opinion?

Diamonds are the obvious choice, but I also look to any stones used frequently in antique jewelry: sapphires, rubies, and emeralds, of course, but also aquamarines, tourmalines, amethysts, citrines, and topaz (is that too many to list?).

What stones should we be giving another look? 

Funky agates (i.e. rocks) and organic materials like coral.

How does selling to an auction house typically work for a seller?

The first step is to get a consignment proposal for your item, which can often be done with emailed digital photos. The specialist (me!) will then provide you with an auction estimate, reserve, and seller’s commission amount. The estimate is the approximate value range within which we expect something will sell. The reserve is the minimum price for which we will sell the item. And the seller’s commission is the commission we will charge you for the sale. The auction house works as the seller’s agent of sale. I like this relationship because we are on the same team and your best interest is my best interest: to present an item to the market in the most advantageous way (in order to maximize its value potential!). 

Can you provide any tips for buyers on how to successfully bid at auction?

Always ask for a condition report and more photos, and when possible, try to connect with a department specialist to ask if there’s “anything else you should know” about that piece you are considering bidding on. It’s amazing how much additional information you can find out in terms of the overall quality and feel of a piece that doesn’t come through in the catalogue photos and description.

Any popular misconceptions about the world of auction houses and or antiques that you'd like to debunk?

Auction is the most transparent mode of buying and selling items. As the seller, you will know exactly what your item sold for and how much you will receive from that sale. As the buyer, you will know exactly how the bidding progressed in order to land on the final bid price.  

What item are you most excited to show at your upcoming June auction?

A dreamy Art Deco Kashmir sapphire ring made by the New York jewelry firm Marcus & Co. in the 1930s. 

Favorite part about your business?

Preserving history! By stewarding historically important pieces of jewelry from consignor to buyer, I feel like I have a hand in preserving the art historical tradition of our world. I also have the opportunity to meet people as beautiful and interesting as the jewelry they are selling or buying. 

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