This is the only category on the site where part of the price is decided outside the room.
The floor
For plain gold and silver, the metal itself sets a floor that moves with the market and that every serious bidder in your room already knows. You are not pricing against the room there; you are pricing against a number they can look up.
Which means two things:
- Never start a precious-metal item below what the metal is worth. The room will not reward it; it will simply be a cheap item.
- Say the weight and the purity early. Bidders who know the floor cannot bid until they know what they are bidding on.
Above the floor
Workmanship, maker, age, design, stones and condition are what the room argues about. That argument is where your show earns its keep, and it only happens if the floor is settled first.
Reserves
This is the category where a reserve is most obviously right. A quiet night should not cost you the metal value of a piece.
Watches
A running, serviced watch with papers and a watch of the same model in unknown condition are not the same item at a discount — they are different items. Price them separately and describe them separately.
Pacing
Weighing takes time. Hallmarks take time. Build the show around three or four pieces properly shown rather than a dozen waved at the lens, because an unshown piece in this category gets floor bids and nothing more.
Questions people ask
Should I quote the metal rate in the show?
You can say what you are using and that it moves. Do not write a rate into the listing, where it will be out of date within the day.
What about stones I cannot value?
Describe, do not value. Let the bidding do it, and set your reserve on the metal.
Is no reserve ever right here?
For costume and fashion pieces, yes. For precious metal, rarely.
More: how to price for auction, selling jewellery and watches.