I've spent the day at a Chinese Art, and Gold, and Paintings Auction today... the PRICES of items containing gold were ASTRONOMICAL..... but Diamonds weren't selling well. For those of you who know, a flawed 5 Carat diamond went for £3,500 whereas we all expected £10,000 to £12,000 prices.... It was a shock!
The funny item was a Chinese Jade disk. Three were sold in a row, the first was £210, the second was £230.... the third one (estimated at the same values) had an OPENING bid of £12,500...... and rose to £15,500..... even the auctioneer's COLLEAGUES gasped! God only knows what happened!
It just seems that people are starting to hedge their investments into SOLID objects (gold, antiques, paintings, etc.) rather than 'currency' or 'business'. Damned scarey times, chaps!
Ian
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