JewelFreak
Ideal_Rock
- Joined
- Sep 3, 2009
- Messages
- 7,768
About what constitutes "Important" or "Magnificent" in jewelry auctions. Just found this in the NY Times:
"At Christie’s and Sotheby’s, what distinguishes a jewelry sale as “magnificent” is generally price. Christie’s “magnificent” auctions have an estimated floor value of $50 million for all the pieces together, whereas its “important” jewelry sales have an estimated floor value of $15 million to $20 million, according to Rahul Kadakia, its head of jewelry. Often those estimates are low. At one recent sale in Hong Kong the estimate was $65 million in a sale that ultimately fetched $90 million, according to Mr. Kadakia."
-- Laurie
"At Christie’s and Sotheby’s, what distinguishes a jewelry sale as “magnificent” is generally price. Christie’s “magnificent” auctions have an estimated floor value of $50 million for all the pieces together, whereas its “important” jewelry sales have an estimated floor value of $15 million to $20 million, according to Rahul Kadakia, its head of jewelry. Often those estimates are low. At one recent sale in Hong Kong the estimate was $65 million in a sale that ultimately fetched $90 million, according to Mr. Kadakia."
-- Laurie
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