SOARING PRICES FOR JEWELS

Bay of Plenty Times, Volume LXXIV, Issue 14057, 11 May 1946, Page 4

SOARING PRICES FOR JEWELS

PEOPLE INVESTING MONEY

AUCTIONEERS HOLDING

MANY SALES

People with money—and nothing to spend it on —are buying up jewels, old silver, pictures, and chairs. So great is the demand that prices have soared,, and auctioneers arc holding tour times as many sales as they did jn pre-war days. Hundreds of bidders were at six big West End sales and everything auctioned went for high prices. Altogether about £200,000 was realised, but it was described by auctioneers ag "one of our less exciting days." At Southeby's Galleries, Bond Street, W., an official said: "Buyers feel that goods are the only worthwhile investments. They knew goods will never deteriorate to any extent.

"Generally, prices have soared.. We always sell everything we can lay our hands on. Many people arc investing their money in jewellery. "Dealers arc buying it because they know they can get enormous prices for good articles. Even small-scale investors believe that jewellery or antiques are the best security they can get against inflation."

A dealer said he had never before seen such big prices.

"I know many of my clients are investing widely in antiques, pictures,., and particularly diamonds," he said.

Dessert Service.—£ 340 (pre-war price—£90). Porcelain figures.—£4o, £SO, £5 5 (pre-war price— £25). Presentation hooks. —£8, £9, £lO (pre-Avar price—ss). Silver. —25s an ounce (pre-war price—3s an ounce). Swiss views.—£l4. 10s. (per-war —of no value).