For Brett O' Connor, senior director and senior international jewellery specialist at Sotheby's, sourcing the best gemstones and jewels globally has been a life long journey that he has so far utterly enjoyed.
O' Connor, who has over 20 years of jewellery auction experience across three continents, began his career with Sotheby's in Beverly Hills, California. It was while working in Hong Kong as director of the Western Jewellery Department that he had the opportunity to travel extensively in Asia to locate rare jewels for their auctions.
He has been based in Geneva since 2002.
"The never ending search for these jewels is a challenge that never ends," remarked the veteran, when asked what keeps him going. "Many important jewellery collections to have come to auction in recent years include those of Baroness Eugene de Rothchild, Luisa Fanti Melloni and more."
Among the numerous highlights at Sotheby's Geneva, O' Connor auctioned a 25 carat ruby for over $1 million (34 million baht) per carat — reported to be a world record. Earlier this year, the "Sunrise Ruby", a 25.59-carat Burmese ruby and diamond ring from Cartier, estimated at $12-18 million — was sold for $30.3 million. As a world auction record for a Ruby, tripling previous records, the 8.62-carat Graff Ruby, sold for over $8.6 million.
Could you give us your insight into the current market for jewellery, and what are the advantages of using an auction as a platform for transactions.
The market for 20th-century signed jewels is very strong as well as the market for coloured gemstones such as emerald, ruby and sapphire. The white diamond market has seen a plateau in prices with the exception of fancy coloured diamonds. They have been doing exceptionally well. I believe in the auction as a vehicle to sell your jewels. It is open and transparent and exposes your jewels to a worldwide group of jewellery buyers that the client would never have access to. It forces competitiveness by exposing the jewel to the open market to every likely bidder at any given time.
Tell us more about the Thai market.
The Thai market is unique in that it historically was the centre for coloured gemstones in the region. This tradition as the gem basket of Southeast Asia has allowed many important stones to remain in the region in private hands and this is what is so exciting because you never know what you will be shown.
What is your professional opinion of Thai jewellery?
Thai jewellery has only improved since I lived in the region some 15 years ago. There is a greater awareness on behalf of the jewellers of what the international market demands in terms of quality and design.
You specialise in sourcing gems for Sotheby's worldwide jewellery auctions. Tell us about this experience and how you have sharpened your skills through the years to source only the very best for auctions.
I started as a cataloguer over 21 years ago. Back then we had a sale 11 times per year so it was a great way to see tens of thousands of jewels every year. I haven't stopped looking at every piece of jewel and gemstone I have the opportunity to see. Also, reading the book by my colleagues David Bennett and Daniela Mascetti called Understanding Jewellery, was a great help and has been a continuing resource.
Share one of the most memorable anecdotes you have had in your search for top quality gems since you began your career.
I met a lovely elderly lady in the Pacific Northwest of America who came to see me with a brooch that contained a little red stone she was going to throw away because she thought it was costume jewellery. It turned out to be a very fine Burmese ruby. We sold it for her for over US$400,000. A lot of money for something she was throwing away!
What has been your biggest challenge so far?
I started out working for Sotheby's in America but was quickly asked to move to Hong Kong and then to Switzerland a few years later. Each country has different cultural norms and business etiquette. Learning and understanding these have been a great challenge but very rewarding.
What have you learned about the mindset of the Asian market?
Our Asian clients tend to be very well educated and highly informed. They do a lot of research before coming to see me so it makes my job very enjoyable as we can discuss the market in great detail.
How do their needs differ from that of clients from other parts of the world?
Trust is very important in this part of the world and it is paramount to any good client relationship. The needs of the Thai clients are not that dissimilar from the rest of the world. They want to be treated with respect and dignity and they want to receive the highest value possible combined with a high level of service which is something we strive to achieve for them.
What do Asian clients expect at your auctions besides top quality gems?
They want to know that their jewel or gemstone is going to be seen by the world's most sophisticated bidders. They want the sense of security that Sotheby's provides. They want access to the wealth of knowledge that our specialists provide but at their convenience. They want to know that what we're offering provides value for money and that if any bump in the road occurs, that we will be there to smooth it out.
What does it take to master the art of being a good auctioneer?
Being an auctioneer is like conducting an orchestra or directing a theatre production. You must read the mood of the crowd, keep the telephone bidders on their toes and make sure you are on the right bid. It requires much concentration.
What advice do you have for people who would like to follow in your footsteps?
Have a passion for gems first and foremost. Read as many books about jewellery, take a course in gemstones, preferably GIA or FGA. Then work for any company in which you can handle many types of jewels or gems depending on your desires. Either a gem dealer's office or a second-hand jewellery store are great places to start. Having some experience will be helpful when you decide auction is your next step.
For a complimentary valuation by Brett O'Connor on July 13-14, contact wannida.saetieo@sothebys.com or call 02-286-0788.
