Perhaps a better way of looking at this it to bring it back to...

Perhaps a better way of looking at this it to bring it back to the average unit price of the auction. As the is variable quality per unit of pearl, to calculate the overall average can then be compared to the last auction average unit price.

Then it’s possible to decide whether there has been a material change. What would be considered as a material change? Greater/ or less than 10%? As the largest auction for the year how does that impact profits? These are questions for management. But with the dramatic appreciation we have seen in pearl prices I expect there to be considerable potential for volatility in either direction for this auction.