Chapter 102 (1/2)

Dutoit also vaguely heard that Huang Xuan had mortgaged off a large number or art works, of course, no one had told him that they were worth $1.2 billion USD. After some quick thinking, he smiled and said, ”Mr. Huang, do you want the bank to sell them or take them as collateral for a loan?”

”A loan. I would have gone to Sotheby's if I wanted to sell them. But these are family heirlooms, so there are no certificates.”

Dutoit laughed and responded, ”There aren't so many rules in Switzerland.”

His laughter sounded meaningful. Diamond smuggling had always been a major channel of diamond selling. There was a publicly recognised standard in international diamond trade that as long as the import duty of the diamond surpa.s.sed 5% the smuggler would make a profit. Since smuggling diamonds was so easy, many traders in Shanghai had made fortunes overnight, ever since China had set up the import duty standard of 17%.

The diamond a.s.sociation of Switzerland had always attached more importance to the value of the diamond than its source.

Dutoit's laughter startled Huang Xuan. He realised his mistake and patted on his head. He had thought of contacting Pfizer via Citigroup but had forgot the advantage of the United Bank of Switzerland. The American capitalists would have been reluctant to help if Citibank hadn't swallowed so much interest from him.

Many of the diamonds Huang Xuan had bought weighed more than five carats. Some were even over 10 carats. The diamonds on GIA's quotation list were at most 10.99 carats, meaning the diamonds that weighed 11 carats and above were so rare that it was unnecessary to be on the list.

However, it didn't mean that bigger diamonds are better. The 10-carat diamonds with a low 4C grade was worth only $2,000 USDwhile the ones with a higher grade could be worth $178,000 USD. Of course, the diamonds picked by Rolin were all the latter.

Unlike Aubrey, Dutoit was European, who was serious and careful when at work. Having arrived in Nanjing, he invited six experts who were with Sotheby's and Christie's. Plus the interpreters and a.s.sisstants, there were more than 20 people altogeter.

Huang Xuan happened to know one of the experts with Sotheby's, Liu Ziqing who was walking behind the foreigners. He smiled at Huang Xuan when he saw him.

Huang Xuan was surprised to see Liu Ziqing though, as his job, in Huang Xuan's mind, was an auctioneer. So he walked toward him and asked, ”Mr. Liu, I didn't know you were an expert in gemstones.”

”No. No. I am here because I am Daniel's interpreter,” he said, pointing to a man with dark skin and thick lips.

”Welcome,” Huang Xuan said to Daniel and shook hands with him.

Liu Ziqing talked with Daniel briefly and then said to Huang Xuan, ”Before I came, Mr. Derek told me to convince Mr. Huang to auction some diamonds at Sotheby's. I didn't expect to see you here.”