The famed diamond earrings Erika Jayne was compelled to return due to her continuing legal problems will be auctioned off in California on December 7, Page Six has learned exclusively.
Stephen Swan, vice president of John Moran Auctioneers, explains, They are perhaps the most talked-about jewels in the world at the moment, which lends a certain element of mystery and intrigue. We have not yet determined an opening bid, but because this is a court-ordered sale, the opening bid will be quite appealing.
Thomas Girardi, the estranged husband of Jayne, acquired the earrings in 2007 for $750,000. Since then, the 51-year-old Real Housewives of Beverly Hills actress claims the studs are now worth $1.4 million.
The gemologist and director of the jewelry department at John Moran Auctioneers, Mollie Burns Keith, tells Page Six in an exclusive interview that the earrings have not been evaluated since 2004 and that Jaynes unfounded amount is obviously based on nothing.
Prior to the sale, she explains, the gems will receive a fresh GIA analysis, which is a comprehensive scientific and objective evaluation. Also, were assured that the earrings renown will not affect their worth at auction, but it will likely drive individuals to submit greater bids.
Swan exclaims, What a fantastic time to have and own these! They are now a cultural sensation, and what better way to start a discussion at a dinner party than to show them off?
If Jayne wanted to submit a bid to win back her earrings, she may do so. Swan says, There is no reason why she could not bid on them. Burns Keith quips, She would have to go through the pre-approval process to verify money. Swan states that all first-time bidders must be verified prior to placing bids.
If you are a first-time bidder with no history with us and are interested in bidding on high-priced items, we want evidence of cash, potentially a deposit, verification, or proof that you have bid at another auction house, he explains. Were simply making sure youre not going to bid on this and then back out. Jayne has a mound of legal debt due to the several lawsuits filed against her for purported crimes committed by her estranged spouse.
Her attorney Evan C. Borges previously told Page Six, The fact that Erika has had aid from others to pay her expenses demonstrates that she has never taken any concealed assets from the bankruptcy estates of Girardi or Girardi & Keese. However, if Erika Jayne wants someone else to purchase the earrings on her behalf, there may be a legal loophole, but there may also be additional issues.
Swan tells Page Six, This is something we would have to discuss with the trustee since, in principle, you cannot bid on your own property. Even if she could be verified, I believe the objective is to sell it for as much as possible.
Jayne may have one more opportunity to get her earrings through the judicial system: her appeal. In July, the Pretty Mess singer and her attorneys filed an appeal of the judges June ruling that Girardi acquired the luxury items using plundered monies from his old business Girardi & Keese.
Swan states that the attorneys will need to weigh in on the impact of the appeal ruling on the auction, but he maintains that all legal matters will be resolved by December 7.
The vice president of John Moran Auctioneer said, [The winning bidder] will never be required to return [the earrings]. The title will be transferred to them in accordance with the bankruptcy courts rules.
The court granted John Moran Auctioneers
In partnership with 360 Asset Advisors the authority to oversee this auction because they handled the court-ordered sale of the Girardis former residence, have a global presence, a history of selling high-end jewelry and works of art for more than 50 years, and an established relationship with the trustee and estates community in the Los Angeles area.
All profits from the sale will be sent to the trustee, who will subsequently distribute them to the proper parties. A buyers premium compensates the auctioneer for their services. Although the live auction begins on December 7 at 1:00 p.m. ET/10:00 a.m. PT, Swan explains that bids can be placed from anywhere in the globe in a variety of ways.
If you choose, you may place an absentee bid online prior to the auction, he explains. However, on the day of the auction, you may be in the room with a paddle [at the John Moran offices in Monrovia, California], and you can also bid live online and see and hear the auctioneer from the comfort of your own home or another location.
Prior to the live auction, absentee bids can be entered online at JohnMoran.com or in person at the companys offices between Thanksgiving and December 7.
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