Click to play videoNew Delhi: Away from all the stock market clashes, India will now see its first ever online jewellery auction. The bidding will start on Tuesday night and end on Wednesday.
Saffronart has never been shy of breaking new grounds. Eight years ago, having first converted touchy feely art collecters to trusting online bidders, the auction house is now leveraging its brand value to bring on the country's first ever online fine jewellery auction.
“There are some absolutely amazing pieces in this auction and I am sure they fetch some amazing prices as well,” says art consultant Meena Hingorani.
Registered members can buy any of the 130 pieces from anywhere in the world, provided they have their finances in place. Prices vary from Rs 20,000 to three crore plus.
“The results of the recent auction were a success even though the financial crisis was going on. So, I guess there is no recession for the rich,” says businessman Priyam Jhaveri.
The recent erosion in traditional assets like stocks only adds to the attraction of such alternative investment.
“I think these alternative investment like gold, diamonds, are going to be places where people would like to put their money because in some ways they beat the risk of having parked it somewhere where there is some uncertainty,” says the founder of Saffronart Dinesh Vazirani.
This virtual reality may is well insulated from the ebbs and flows of economic conditions; after all it is about the next best thing.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
 |
 |
 |
|
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.