Well, the first two days of Paspaley’s auction in Wan Chai have passed. The news is not much better than what we witnessed at Shima Shokai or Robert Wan. Buyers are wary. Goods are not moving. The big boys are getting scared.The first day of the auction, about 115 lots were available for purchase. On a good day, 70-80% of the lots would sell. The first day was not a good day for Paspaley. Only a measly 10 lots went to winning bidders.
The second day, however, gave a hint of hope for the third. A whopping 40 of 145 lots went to winning bidders. Now, I don’t know if these were bottom-of-the-barrel lots. They may be all commercial-grade pearls for all I know. But it must be a nice added cushion to the Paspaley coffer. You know, it takes a lot of money to keep that pearling armada afloat!
Posts
8 comments:
For someone new to your site, love it by the way, tell us a bit how these auctions work. I mean how many pearls are in a lot? what is average min/max price depending on quality? If Paspaley only sold <10% on day one and about 25% on day 2, how will they stay in business?
That would make for an interesting post. What are you thinking? Sort of a step-by-step of a pearl auction? What goes on at the auction and behind the scenes sort of thing?
yes, exactly. how are they done and what type of behind the scenes dealing goes on? Are they done in lots of pearls the same size and quality or just whatever you get? who gets invited? etc..
Okay. I'll oblige. Unless some big pearl story comes out before my post next week, that will be it!
Story is posted. I hope you enjoy.
Thanks bro, you da man
Bro? Da man? *cool*, I like that!
I mean *dat", not That.
Post a Comment