Chapter 123 – Auction Company (2/2)

Teacher Sun was an expert in appraising jewelry. He had seen countless of jewelleries and more than 95% of them were not worth putting up for auctions. Most of these jewellery were bought from malls. There was no need to auction them. When Teacher Sun was called to appraise this pearl necklace, his first thought was a standard necklace with pearls smaller than 1 cm. But when he saw the shiny golden pearl necklace with pearls more than 1.5 cm, he was stunned. “Pearl Necklace? Such big pearls? Wow…… This is a rare find.”

“Are there any big auctions upcoming?”

“Let me take a look first.” Teacher Sun looked at Dong Xuebing. He did not expect an ordinary-looking young man to own such a treasure. He took out the necklace carefully and examine it with a magnifying glass. He scrutinized every pearl for a while and sighed. “These are top tier pearls! But it’s a pity that the chain stringing the pearls…… does not match. The chain is slightly thick, but it’s still fine. It will not affect the value much.”

At Zhuji, Dong Xuebing was in a rush to process and string the pearls. The factory might have cut corners.

After making a phone call, Teacher Sun said: “Let’s sign an agreement. You can leave this necklace with us, and if you agree, I would like to change the chain for you. This will make the necklace nicer and might fetch a higher price. What do you think?”

This person was an expert in this field. Dong Xuebing trusted him. “Ok. I will listen to your advice.”

Teacher Sun continued. “When do you want to auction off your item? The Autumn auction had just ended. Spring Auction is still a few months away, and there are no big auctions coming up. My suggestion is to wait a while. The next big auction is in 1 to 2 months. If possible, wait for the spring auctions…….”

Dong Xuebing interrupted: “I can’t wait that long.” He also knows that Spring and Autumn’s auctions are the biggest auctions in China. Most items could fetch reasonable prices in these auctions. But Aunt Xuan had some problems at her workplace. She had offended her leaders and must be facing all sorts of difficulties. Maybe she might resign anytime. That’s why Dong Xuebing must raise a sum of money as soon as possible. “Is there any way to auction off earlier? How about the next auction?”

Teacher Sun smiled. “I made this suggestion is because I think this necklace can fetch a good price. If you are in a hurry, fine. I will make the arrangements.” Dong Xuebing nodded. Teacher Sun could tell Dong Xuebing needed money, and he added. “There will be a small auction two days later. Tomorrow we will exhibit the items, and the auction will start the next day. If the buyer payment is fast, you will get the money in 4 to 5 days.”

That’s fast. “Ok. This auction will do.”

“You sure?”

Dong Xuebing paused and asked: “Errr…… will this necklace fetch less than 1 million in a small auction?”

“Hahaha, no. This is a good necklace. It should fetch at least 1.2 million.”

1.2 million RMB. After deducting the commission, taxes and all other charges, Dong Xuebing should get about 1 million RMB. This was his target. Hmmm…… even it this necklace was auctioned at the Spring Auctions, the price should be about the same. There was no need to wait a few months for an extra 10 – 20 thousand. He does not have time. “Ok. Then I will put this up for the next auction. Errr…… How much should I set as the starting bid?”

Teacher Sun thought for a while. “Set a lower starting bid. I think 500,000 RMB is a good price. The price will rise slowly, and more people will join in to bid. The final transacted price might be higher. Of course, this is my personal opinion. If you…….”

Dong Xuebing replied without thinking: “I will listen to you. 500,000 RMB starting bid.”

After finalizing some minor details, Dong Xuebing signed the agreement. He will leave the necklace with the auction house to change the chain and left for home with an empty money box.

2 to 3 more days…….

I just have to wait for the auction to end and I will be able to get the money!