So much has been contemplated about October's auction; grading (colour, clarity, carat), quantity of carat assortment (won't mention specials), overall quantity for auction, sell percentage, avg selling price, the list goes on. One question and one statement has bothered me for quite some time and looking for others thoughts.
The aim to hit 200k carats. A lot of conjecture has been thrown about for hitting this as the auction quantity. Is it that 200k is a minimum amount that needs to be achieved as desirable for potential bidders or is it more of a case that BOD presented it as a target and not hitting the target is a failed milestone giving unrest to potential investors? Not a question about where the rubies are coming from (deposits or artisanal) merely a quantity vs target question.
The statement for me has always given me a sense of unrest. Im not one to squabble over tweets, changed direction, cartels, ancient history (Frank), replying to emails, "are the rubies even real", and the like (albeit I do care for the security of the product). Aside from all of this my biggest concern is experienced, tough skin, auctioneering. As we are infants to the age old practice of the auction world, if I was a bidder I would be merciless at the October auction and bully the hell out of it. Understand there could be a reserve but with additional funding tranches looming overhead, will the spine snap and not stand staunch for what is rightfully deserved? If not will a naive / newbie precedence be set?
MUS Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
