Author Topic: Auction prices  (Read 2703 times)

Offline peo

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Auction prices
« on: July 19, 2016, 09:49:36 AM »
Hi
I came across this interesting Website that reports prices of important diamonds (whites and fancy coloured sold at auctions. The site states that jewellery appraisers are using it for better valuation. Are auction prices, when compared, a good indication of the market value of diamonds?

Thanks.

Offline Diamondsbylauren

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Re: Auction prices
« Reply #1 on: July 21, 2016, 12:54:03 PM »
Hi!

In general: Auction prices are not all that useful because the price paid may be artificially high or low based on a variety of factors.
From my perspective, consumers can simply shop on many different sites to get a rounded idea of prices.
David
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Offline basuja

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Re: Auction prices
« Reply #2 on: November 06, 2016, 09:57:18 PM »
Hi All,

I've finally decided to sell my collection after  20 years.  A collection of 13 plus pieces of argyle pink and white diamond jewelry.

I've completed valuations last year from IGL but I understand these valuations to be rather conservative.  How best can I set my expectation on sell price ? I want to be realistic on market value since I dont want my emotional attachment to this colection to play a part in my decision.

Thank you.

Kind regards,

Danny

Offline oldmancoyote

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Re: Auction prices
« Reply #3 on: November 07, 2016, 05:21:14 AM »
Depending on how large/important your collection is, I would consider the following:

1. Go to the main auction houses and ask them for estimates and reserve prices (and commission rates)
2. Find one (or more) expert appraisers that can help you scour the market for references and comparables. Usually standardised valuations from places like IGL are aimed at replacement/insurance value, which has nothing to do with the price you may be able to get when selling
3. Talk to people like David (the owner of Diamonds by Lauren). They may or may not be interested in buying themselves, but they can point you in the direction of people who can and can also give you interesting pointers in terms of prices/values
4. Sites like the one that Peo is asking about on the first post of this thread also can help - however as David mentioned above there is no strong link between results at one specific auction and what a similar piece may do tomorrow.

Perhaps obvious, but worth mentioning that the 4 suggestions above are not mutually exclusive.

Good luck!!!

Offline basuja

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Re: Auction prices
« Reply #4 on: November 07, 2016, 07:54:57 PM »
Thanks for the feedback oldmancoyote.

Cheers,
Danny