How to bid on Erika Jayne’s infamous diamond earrings

Have your paddles ready.

The infamous diamond earrings that Erika Jayne had to relinquish amid her ongoing legal battle will be headed to the auction block in California on December 7, Page Six can exclusively reveal.

“They’re probably the most talked about pieces of jewelry right now, which adds a kind of unknown excitement and interest factor,” says Stephen Swan, Vice President of John Moran Auctioneers.

“We haven’t made an initial offer yet, but as this is a court-ordered sale, the initial offer will be very attractive.”

Jayne’s estranged husband Thomas Girardi bought the earrings in 2007 at a retail value of $750,000. The 51-year-old “Real Housewives of Beverly Hills” star has since claimed the studs’ value has risen to $1.4 million.

However, Mollie Burns Keith, the gemologist and head of jewelry at John Moran Auctioneers, exclusively tells Page Six that the earrings have not been valued since 2004 and Jayne’s “unsubstantiated number” is “based on clearly nothing”.

However, she says the sparklers will receive a new GIA report ahead of the auction, which is a full scientific and unbiased appraisal of the diamonds.

“The original classification was made in 2004 and needs to be updated,” adds Burns Keith.

Swan says the starting bid will be “definitely lower” than the retail price Girardi, 83, paid.

We were also told that the popularity of the earrings will not play a role in the value given to the earrings at auction, but this factor will likely “drive” people to bid higher.

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

If Jayne wanted to bid to win back her earrings, that option is on the table.

“There’s no reason she couldn’t bid on it,” Swan confirms.

However, Burns Keith cheekily points out, “She would have to go through the pre-approval process to verify funds.”

Swan says all first bidders must be screened before they can bid.

“If you are bidding for the first time and have no prior history with us and would like to bid on higher quality items, we will ask for either proof of financing, possibly a deposit, confirmation or proof that you have bid on another auction house,” he says. “We’re just making sure you don’t bid and then walk away from it.”

Jayne has a mountain of debt due to the many lawsuits filed against her over the crimes her estranged husband allegedly committed.

Her attorney, Evan C. Borges, even previously told Page Six, “The fact that Erika has needed help from others to pay her bills shows that there is no hidden treasure she has ever taken for herself that is truly too.” the insolvency estates of Girardi or Girardi & Keese.”

However, if Jayne wants someone else to buy the earrings on her behalf, that could be a loophole, but there could be further legal complications.

“We’d have to talk to the trustee about that because generally you can’t bid on your own property,” Swan told Page Six. “Even if she could be verified, I think the goal here is to sell her for as much as possible.”

There may be one last attempt for Jayne to get her earrings back through the court system: her appeal.

After a judge ruled in June that Girardi bought the luxury items with embezzled funds from his former company Girardi & Keese, the “Pretty Mess” singer and her lawyers appealed the ruling in July.

Swan says lawyers will need to consider how the appeal decision would feed into the auction, but he says all legal issues will be “resolved” by December 7.

“There will never be a moment when the [highest bidder] will have to give [the earrings] back,” says the John Moran Auctioneer VP. “The property will be transferred to them in accordance with the provisions of the bankruptcy court.”

The court awarded John Moran Auctioneers – in partnership with 360 Asset Advisors – the right to oversee this auction because they also handled the court-ordered sale of the Girardi’s former home, have a wide global reach and have a history of selling high quality jewelry and works of art for more than 50 years and an established relationship with the LA area trust and estate community.

All proceeds from the sale will be given to the trustee and the trustee will then apportion them among all appropriate parties. The auction house is paid for its services by a buyer’s commission.

Although the live auction begins at 1:00 p.m. ET / 10:00 a.m. PT on December 7, Swan says there are a “variety of different ways” people from “anywhere in the world” can bid.

“You can bid online if you want – before the auction – in a so-called ask bid,” he explains. “But 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 also bid live online and watch and hear the auctioneer from your home or anywhere.”

Absentee bids prior to the live auction can be placed online at JohnMoran.com or in person at the company’s headquarters from Thanksgiving through December 7th.

Each earring is over 7 carats totaling over 14 carats.

“They’re almost colorless and have a very nice clarity,” says Keith Burns. “They are beautiful, clean stones and they sparkle brilliantly. The setting is really very beautiful. They were in really good condition.”

She concludes: “We are thrilled to represent them and we will do our best on behalf of the people they have entrusted to us.”