The auction house, which is based in New York City, will now call its flagship jewellery events ‘High Jewelry’ instead of ‘Magnificent Jewels'.
Sotheby’s has also expanded its online jewellery sales, citing consumers' increasing comfort in purchasing high-end pieces without viewing them in person. Global managing director Emma Paleschi said the profile of the typical buyer has evolved in recent years.
“It used to be that the jewellery client was typically of one particular profile with established collecting habits, and all our interactions with them, including bidding, were in person,” she explained.
“While those clients remain an extremely important part of our client base, our evolving clientele now includes a growing alternative profile of client, one which is finding us, engaging with us and transacting with us via entirely different tools.”
Sotheby’s has also rebranded its ‘Fine Jewels’ sales to ‘Fine Jewelry’.
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