How to Place a Bid on Erika Jayne’s Diamond Earrings Auction?

Erika Jayne had to give up her famous diamond earrings because of her ongoing legal problems. On Dec. 7, those earrings will be sold at an auction in California.

“They are quite possibly the most talked about jewellery in the world at the moment, which adds kind of an unknown excitement and interest factor,” Stephen Swan, vice president of John Moran Auctioneers, tells us.

“We haven’t established a starting bid yet, but because it’s a court-ordered sale, the starting bid is going to be very attractive.”

Thomas Girardi, who is no longer married to Jayne, bought the earrings in 2007 for $750,000. Since then, the 51-year-old star of “The Real Housewives of Beverly Hills” has said that the studs are now worth $1.4 million.

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Mollie Burns Keith, the gemologist and director of the jewelry department at John Moran Auctioneers, tells sources that the earrings have not been appraised since 2004 and that Jayne’s “unfounded number” is “clearly based on nothing.”

But she says that before the auction, the diamonds will get a new GIA report, which is a full scientific and unbiased review of the diamonds. “The original grading was done in 2004 and those need to be updated,” Burns Keith adds.

Swan says that the starting bid will “definitely be lower” than what Girardi, 83, paid for it at retail. We’ve also been told that the earrings’ fame won’t affect their value at the auction, but that it will “propel” people to bid higher.

“What an exciting moment to have these and to own these,” Swan says. “They are definitely a phenomenon in our culture right now and what better of a dinner party conversation starter than to be able to show them off.”

Jayne could put in a bid to get her earrings back if she wanted to. “There is no reason why she could not bid on them,” Swan confirms. However, as Burns Keith cheekily points out, “She would have to go through the pre-approval process to verify funds.”

Swan says that before anyone can bid for the first time, they have to be checked out.

“If you are a first time bidder and don’t have history with us and are looking to bid on higher value objects, we do ask for either proof of funds, possibly a deposit, verification, or proof that you have bid at another auction house,” he says. “We’re just making sure that you aren’t going to bid and then walk away from this.”

Jayne has a lot of legal debt because she has been sued so many times for crimes her ex-husband is said to have done. Her lawyer Evan C. Borges even previously told Page Six, “The fact that Erika has needed assistance from others to pay her bills shows that there is no hidden treasure she ever took for herself that really belongs to the bankruptcy estates of Girardi or Girardi & Keese.”

But if Jayne wants someone else to buy the earrings for her, that might be a way out, but it could lead to more legal problems.

“That is something that we would have to talk to the trustee about because generally speaking you cannot bid on your own property,” Swan tells. “Even if she was able to be vetted, I think the goal here is to have it sell for as much as possible.”

Jayne may have one last chance to get her earrings back through the court system. This is her appeal.

In June, a judge said that Girardi bought the high-end items with money that he stole from his old firm, Girardi & Keese. In July, the “Pretty Mess” singer and her lawyers filed an appeal against the judge’s decision.

Swan says that the lawyers will have to decide how the appeal decision will affect the auction, but he says that all legal issues will be “settled” by Dec. 7.

“There will not be a moment in which the [highest bidder] will have to give [the earrings] back,” the John Moran Auctioneer VP says. “The title will be passed to them according to the terms of the bankruptcy court.”

The court gave John Moran Auctioneers and 360 Asset Advisors permission to run this auction because they also ran the court-ordered sale of the Girardis’ old home, have a large global reach and have been selling high-end jewelry and works of art for more than 50 years. They also have a long-standing relationship with the trustee and estates community in the Los Angeles area.

All of the money made from the sale will be given to the trustee, who will then give it to the right people. A buyer’s premium is how the auction house gets paid for its work.

Even though the live auction starts on December 7 at 1 p.m. ET/10 a.m. PT, Swan says that people can bid from “anywhere in the world” in a “multitude of different ways.”

“You can bid online if you want — prior to the auction — in what we call an absentee bid,” he explains. “However, on the day of the auction, you can be in the room with a paddle [at the John Moran headquarters in Monrovia, Calif.], and you can bid live online, as well, and watch and hear the auctioneer from home or wherever you are.”

Absentee bids for the live auction can be made online at JohnMoran.com or in person at the company’s headquarters from around Thanksgiving until December 7. Each earring has more than 7 carats, so together they have more than 14 carats.

“They’re near colourless and they have very beautiful clarity,” Keith Burns says. “They’re nice, clean stones and they’re super sparkly. The setting is really lovely. They were in really good condition.”

She concludes, “We’re thrilled to represent them and we’ll do our best on behalf of the people who have entrusted us with them.”

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