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Diamonds Are a Recession’s Best Friend?

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  • Description

    Christie’s Rahul Kadakia on the upcoming jewelry auction.

  • Duration 5:05
  • Date

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This transcript is automatically generated

This segment is called old money but unlike the -- it gee whiz luxury don't and the company is -- look at IKEA international head of jewelry for Chris.

Welcome back thank you will -- love to see you.

I always -- to be could you bring some good stuff -- call me anytime this is what's gonna happen okay -- -- first off.

Can we show please this ran -- red diamonds.

And I.

How new.

Let's look closer to it's this one yeah okay that's the red diamonds can be -- and a bit more on the -- analysts -- -- on the street how much.

But it's -- three carat stone and in a minute with C a larger diamond which we give -- the sense of the rarity.

Just three carats -- -- stone.

Has two of the rarest use in the diamond weren't red and orange.

And it's going to make about a million dollars that's 300000.

Dollars a -- that's a lot of money that's a lot of money -- not.

Very big.

It's the rarity of the color and you don't get red diamonds in very large sizes some about -- business myself not at all not at all it's all educational -- -- -- fictional story.

300000 account for a red red diamond okay.

Monica police yes I'm so glad I came into work today -- Fox Business you know look at what I get to a got to get this on camera really well because now you can see the size of this thing.

Right.

Now we just focusing in.

Look look at that -- is -- that is secular.

Getting less -- that's -- -- -- that is fifty carrots that's a fifty had in this seventies that was your skating rink today.

It's a rectangular cut.

Flawless diamond ring by -- 20000015 million how much I wish by the federal the auction because we -- Christie's and we -- well.

We have the event at seven to ten million dollars you know I give you incredible commercials -- -- but seven to ten million that seems Lulu.

-- 200000 dollars a cap.

Which is a great price -- ten million.

But again.

300000 dollars a -- for the -- -- 200000 dollars in -- for that and as different clients who prefer a different dogs now I don't know who's gonna buy this thing obviously.

But do you think that the buyout will -- it absolutely.

Out on occasion yeah.

Walk -- streets of -- -- -- the only woman on this panel let me say you -- well yes -- I would ask don't you think I'm -- girl's best actor though I that it would have told the problem down by any means is.

-- fifty cents or believe me when you have it -- up again next -- you wearing that diamond nothing is that and let me probably want to give us though -- let me -- -- about women -- timing can never be too okay.

Now if there is.

And now is that sapphire.

That's a sapphire and diamond bracelet made by Paul -- so very famous American jeweler made in the twenty's and it's probably one of his more.

Important creations because -- -- made Jews that represented hands because he was -- so that was morning children.

But this is a very important Clinton -- so that historical background adds value doesn't absolutely real and yes.

How much as 50% for the -- that bracelet as -- days as well about 50000 is going to go on to make close to 200000.

Dollars on Monday okay.

Now the right here is that that's a ring I think -- and emerald ring all of our Colombian and -- as an eight carat stone in the center.

Full -- on its side and that's gonna make about 500000 dollars.

Emerald emerald green emerald from Columbia okay.

Can we just see the eve -- that I'm intrigued by fifty counts of sometimes we so jewels diamonds all objects more than once at Christie's in 2005.

We sold that very stone.

For 4200000.

Dollars here at Christie's New York.

And on Monday December 10 is going to make anywhere between seven and ten million dollars as Johnson do you take 10% of the selling price we.

On the selling price it's a negotiated commission.

And that level it's nothing.

But on the body aside the premium this fix -- would be about 12% is compact is an auction so it's competitive bidding it is competitive bidding you have to be that on the spot to did you cash and you can bid on the telephone you can send a representative.

You can leave a bid with the auctioneer and in this day of technology you can be live.

From anywhere in the look on your computer in real time.

And as a screen next to the auctioneer that flashes a -- and I -- know that bid that's coming from Dubai.

Bahrain Beijing a UB Altria and the only guy and how much on the island -- I don't know that -- -- -- -- you know with the the -- is a legitimate he's he's got twenty minute ten million bucks yeah all of clear proof before the auction so in order to get a paddle.

You have to be credit approved by Christie's stood by can't just -- in all you'll get a big title for to a but you know these segments are really -- and we really appreciate you coming by with such spectacular jewelry we've -- if Rebecca always happy to be a -- -- IKEA Christie's New -- thank you so appreciative all right.

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