Harborough auctioneer’s first-ever online-only sale saw the number of bidders rocket by a 70 per cent

A Market Harborough auctioneer’s first-ever online-only sale saw the number of bidders rocket by a 70 per cent.

Gildings Auctioneers staged the Jewellery, Art & Antiques online event at their Great Bowden Road base on Tuesday May 12.

It was the well-established firm’s first auction since the Covid-19 lockdown – and it implemented strict safety practices based on Government guidance.

The auction attracted around 1,000 registered bidders vying for 424 lots, mainly comprised of jewellery and pocket watches.

With a final hammer price of £200,000, the auction also smashed the pre-sale estimate by £35,000.

Mark Gilding, one of the company’s directors and also the online auctioneer, said: “We worked really hard prior to the auction to ensure that we were addressing both logistical and health and safety issues.

“Although we have been using online bidding platforms very successfully for some time, this was the first sale to take place exclusively online so we were unsure what the response would be.

“However, it was an amazing success.

“Lot sales were higher than usual and the whole process went very smoothly.”

Mark added: “Usually there are around 25 online auctions on a typical day, but on 12th May there were just five.

“So the law of supply and demand worked in our favour. “Plus, we had some really interesting pieces for sale.”

Many items topped the predicted price.

They included a 19th century diamond set floral spray brooch that made £4,000 against a maximum estimate of £1,500.

A Longines ‘Dirty Dozen’ military wrist watch, one of the first wrist watches commissioned for the British Army, also sold well above the pre-sale estimate, fetching £3,600.

And a bottle of 21-year-old Brora single malt whisky sold for £1,400 against an estimate of £700-£1,000.

Gildings have temporarily waived their fees for online sales, offering a saving of four per cent - a significant reduction on more expensive items.

“It did feel slightly unreal carrying out an auction without an audience of bidders, but the atmosphere was still quite dramatic and exciting,” said Mark.

“There is obviously a strong desire for auctions to continue.

“In fact, the phone hasn’t stop ringing with enquiries since the auction took place which is great news for the industry as a whole as well as Gildings.”

For more information about upcoming auctions and online bidding at Gildings visit www.gildings.co.uk