I found this beautiful ruby & sapphire necklace on icollector.com auction site https://www.icollector.com/Natural-Top-Red-Ruby-Fancy-Sapphire-728-Cts-Necklace_i35230063
Live online auction starts in 12 hours. The starting bid is $5700 and the price estimate is $25000 – $29000. I would like to know what is the true market value of this necklace so that I know how much it would be reasonable to bid? Thank you guys!
FoxyFox,
This price estimate, as well as the start price, is the most outrageous nonsense. Indeed, the necklace is very nice. However, it is important to note that these sapphires are diffusion treated and rubies are lead-glass filled. This is a Thai-made piece of jewelry. This is not to say that there is something inherently wrong with it; it is just not worth the price. I am 99.9% confident that this necklace comes from eBay seller gemsporium or egemdiamond (actually this is one and the same seller with two accounts).
I’d suggest you check out this seller. There is a pretty good chance that you will find exactly the same necklace at some point. If it is not there at the moment, it might be a good idea to contact the seller and ask him when this necklace will be in stock again.
Normally, the price of such a necklace is around $600 – $700 if you go for “buy it now”. However, if you are lucky, you can win it on an auction at a price even lower than that – $300 – $400. This is what it is actually worth, not $5700. Icollector.com business model is based on unreasonably high price estimates and start prices. In addition, they do not disclose the information on gemstone treatment. Yet another online auction site engaging in dishonest business practices.