01/09/2025 Jewellery
The first half of 2025 has been a notably active period for the UK jewellery auction market. Against a backdrop of record gold prices, evolving buyer behaviour and continued growth in online bidding, auctions have remained a strong and effective route to market for quality jewellery.
While broader retail jewellery sales have softened, auction results tell a more nuanced story. Well-presented pieces, particularly those with strong provenance, period interest or recognised makers, have continued to attract competitive bidding and achieve healthy prices.
High gold prices have been one of the defining features of the market this year. Although this has dampened demand for newly manufactured jewellery, it has had the opposite effect at auction, where buyers are increasingly focused on intrinsic value, rarity and design rather than weight alone.
For sellers, this has created favourable conditions. Pieces with quality gemstones, signed designs or period significance have benefitted from increased competition, while buyers have become more selective, favouring jewellery with clear appeal beyond scrap value.
At Bellmans, this has been reflected in steady sell-through rates and a growing emphasis on fine, collectible jewellery rather than purely fashion-led material.
One of the most notable shifts in 2025 has been the continued strength of regional auction houses. Buyers are no longer focused solely on London sales, instead actively engaging with well-catalogued auctions across the UK.
This has brought renewed attention to regional centres such as Sussex, where jewellery auctions now attract bidders from across the UK and overseas. Online bidding has played a significant role in this change, allowing collectors and dealers to participate easily without travelling.
Alongside this, themed and specialist groupings have performed particularly well. Art Deco jewellery, early 20th-century signed pieces and well-documented estate collections have all attracted strong interest.
The first half of the year has seen consistently strong results for well-presented jewellery at auction. At Bellmans, notable examples have included:
A Cartier Tank Chinoise wristwatch achieving £13,600
An 18th-century French enamel masked locket ring selling for £16,900
A sapphire and diamond Art Deco bracelet realising £14,300
A Cartier pavé-set diamond Love bangle achieving £19,500
These results underline the continued demand for signed jewellery and period pieces, particularly where condition and provenance are strong.
There has also been a noticeable crossover between watch and jewellery collecting, with vintage watches appearing increasingly in jewellery sales and attracting interest from both sectors.
As one Bellmans specialist noted:
“Collectors are increasingly buying into the story behind a piece, not just its material value.”
Online bidding continues to grow in importance, with a significant proportion of jewellery buyers now participating remotely. Advances in photography, detailed condition reporting and live bidding platforms have made high-value purchases more accessible to international buyers.
Bellmans’ live bidding platform allows clients to follow auctions in real time, combining the atmosphere of the saleroom with the convenience of remote participation. This has widened the audience for jewellery auctions and supported strong competition across price ranges.
Younger buyers, in particular, are engaging through digital platforms, showing interest in vintage and antique jewellery that offers individuality, sustainability and long-term value.
Sustainability has become an increasingly important consideration for jewellery buyers. Auction jewellery offers a natural alternative to newly mined or manufactured pieces, allowing buyers to acquire high-quality jewellery while extending the lifecycle of existing objects.
Vintage diamonds, coloured gemstones and period jewellery avoid the environmental impact of modern mining and production, while also offering craftsmanship and design that is often difficult to replicate today.
This has reinforced the appeal of antique and vintage jewellery, particularly among younger collectors who value originality and ethical considerations alongside aesthetics.
Jewellery continues to be viewed by many buyers as a tangible store of value. While not immune to market fluctuations, well-chosen pieces with recognised makers, quality stones and strong provenance have historically performed well over time.
Auction buyers are increasingly informed, often approaching jewellery purchases with an understanding of gemmology, design history and resale potential. This has supported demand for investment-grade jewellery even during periods of economic uncertainty.
As the year progresses, several trends appear set to continue:
Strong demand for signed and period jewellery
Continued growth in online and hybrid auctions
Increased focus on provenance and condition
Ongoing strength of regional auction houses
For sellers, the auction market remains an effective and transparent route to achieving fair market value, particularly for jewellery with individuality and quality. For buyers, auctions continue to offer access to distinctive pieces that are rarely available on the high street.
At Bellmans, our Jewellery Department continues to see strong interest across categories, reflecting a market that, while selective, remains active and engaged.