Saleh Fareed
Saudi Gazette
JEDDAH — At least 300 of the most expensive pieces of jewelries were sold recently at Fitaihi Auction House at the 2nd Jewelries Auction held recently in Jeddah, according to organizers.
This was the second and largest auction in the Kingdom of about 300 pieces of rare jewelry organized by Fitaihi’s Auction House. The jewelry, included a range of necklaces, bracelets, rings, earrings and anklets.
Uhoud Bahawi, assistant marketing manager of Fitiahi’s Auction House, said the sales of these rare jewelries were far from their expectations, especially overseas buyers who bid through telephone communication.
“From necklaces to rings, wealthy connoisseurs have spared no expense buying up these priciest jewelry,” she said.
She added, “The market is on the rise! We witnessed a room of active and engaged buyers who took time to learn about their pieces of interest during our previews. We were thrilled to see some of our seasoned, experienced collectors return, as well as, eager new buyers. The success of this sale is evidence of a rejuvenated desire to buy jewelry.”
Possessing rare jewelry is considered one of the most important investments by Saudi families, and Saudis are the largest bidders in international auctions for rare jewelry held in European countries.
The third Jewelries Auction is expected to be held in Riyadh next February 2016.
Fitaihi’s Auction House, a subsidiary of Fitaihi Holding Company established in 1908, has more than 100 years of expertise in manufacturing and trading gold and jewelry and that such expertise was invested for the second time in Saudi Arabia.
