Episode 153. How tariffs affect jewelry auctions. Christie's executive Max Fawcett argues on the Rapaport Diamond Podcast that pre-owned jewelry should be exempt from US import tariffs, stating there is no valid argument for applying duties to antique items with complex origins, even while new items may warrant protectionist duties. He notes that the reciprocal tariffs have caused some international consignments and American buyers at overseas auctions to avoid New York, leading Christie's to lobby the US government on this issue, which is critical since the US is a major market; Fawcett also discussed the overall softening prices for spectacular diamonds, citing the Mellon Blue's lower selling price, and emphasized the importance of a skilled auctioneer.
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