Daily News: June 19, 2012

Buxbaum Jewelry Advisors to Hold Three Auctions Per Year

Following the successful conclusion of a pair of private wholesale auctions in New York during April and May, Buxbaum Jewelry Advisors (BJA) announced that it now plans on holding at least three such events per year.

“Our intention is to provide opportunistic value buyers the convenience of bidding on a breadth of merchandise in one location,” said Michael Lebowitz, vice president of the Agoura Hills-based firm and a 40-year veteran of the jewelry industry. “Depending on the nature of the inventories, viewings could potentially be staged on both the East and West Coasts in advance of the New York auctions.”

In April, BJA auctioned antique and estate jewelry from E. Lee Martin, Inc., with the entire 2,000-plus piece inventory ultimately sold to a joint venture of industry veterans from Manhattan’s 47th Street diamond district. The offering included pieces from such prominent names as Van Cleef & Arpels, Tiffany, David Webb, Bulgari, and Hammerman.

During a separate New York auction in May 2012, BJA brought together lots from various retail, wholesale, and manufacturing sources. The auction concluded with three lots being sold to the highest bidder, including one with over 1,600 pieces from a Canadian manufacturer.

“In both cases, our clients were extremely pleased with the results,” noted Lebowitz, who worked directly with the various buyers during an exhaustive viewing process at both auctions.

The team of jewelry professionals at Buxbaum Jewelry Advisors provides a wide range of services to meet the needs of both financially distressed and profitable jewelry retailers and wholesalers, as well as asset-based lenders servicing the industry.