Christie’s Sale of Gems and Jewels Brings in Almost $30 Million

Most press release quotes are cautious or outlandish, this one from Christie’s Jewelry head, Rahul Kadakia, introduces an interesting idea to the entire auction market, are jewels a store of value in a world of volatility? Will paintings be seen that way too?

“In a volatile market when the Dow lost 700 points in a day, nearly $30 million of jewelry and precious stones changed hands at Christie’s in less than five hours thus demonstrating the relative stability of the jewelry market and the long dependability of gems as a store of portable value,” said Rahul Kadakia.