Yesterday I went to Dorotheum Palace in Wien, trying to sell two new rings and some gemstones.
One ring was this aquamarin ring on the photo with IGI certificate. The center stone is 3,78 ct, the ring is 7g white gold, with diamonds.
They wanted to put in auction with the estimate price of 800-1000€. This doesn’t even cover the expenses of the ring.
What do you think? They were right or just wanted to make quick money? Do you have any similar experience? What do you think of the value of this ring?
Thank you for your answers in advance!
When it comes to auctionhouses and pawnshops they have lists of historical transactions of similar objects and they goes from them. The ground for the pricesetting is the todays marketprice for gold, then they set a price for the diamonds. If they have knowledge of coloured stones they might, just might add something for that to. Ofcourse the stone needs to be exeptional.
They will almost never add the productioncost of the objects UNLESS the artist/goldsmith is very famous. Then they add that to the pricetag. They also have to calculate with their commission fee that usally is between 15-25% on the endingprice.
People who buys from pawnshops and auctionhouses mostly seeks bargains unless it is something spectacular like a very big diamond or a historical artifact etc.
The best way to get a profit from a new produced product is to sell it by yourself. It is hard, but it is most likley the only way to at least get your money back. You could also try to make a deal with a jeweler to sell it for you for a fee.
Thank you very much for your kind reply and advices. I really appreciate it!
Now I see that I better build my own business with my own customer. It will take time, but I’m sure if I work and learn a lot, it will goes well.
Have a nice day!
I am very new in GEMS WORLD but I have a big passion. I am an old guy and spent my life buying and selliing in auctions houses and in many countries.
My opinion is selling in auction will be ok only if you have something exceptional.
But buying in auction is not bad (I am not at all auctioneer). Prices are sometimes interesting and it is much safer than on Ebay or something like this.
Give me your advice about these : SAPPHIRE Ceylan Cornflower unheated 2.02 cts certificate GFCO 250 Euros - Ruby Burma Vivid Red 5.17 cts Certificate AIG 295 Euros. You are much more competent than me so, thank you to give me your thoughts.
Have very nice day