【Lyon, France】When Historic Gold Prices Boost Auction Sales

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Editor’s Note

This article examines the surge in gold sales within auction houses, a trend highlighted by experts in Lyon as a defining feature of the 2024 market. It explores the reasons behind this “gold rush” and its implications for sellers and collectors.

Meriem Bioud - Les tribunes du château de l'Empéri, dernier bien publié sur la plateforme d'enchères par la ville de Salon-de-Provence.
A Close-Up on the Gold Rush in the Auction Room

A close-up on the gold rush in auction rooms, one of the strong markers of the first half of 2024 for auction experts in Lyon.
Philippe JAYET
Saturday, August 24, 2024

© Pixabay, photo d'illustration - La vente d'objets en or permet un paiement rapide des vendeurs particuliers.

© Pixabay, illustrative photo – The sale of gold items allows for quick payment to private sellers.
When asked what object, in his opinion, has most marked this first half of 2024 for the auction house Médicis Enchères, auctioneer Maître Clément Schintgen’s answer is atypical and unexpected: a gold bar.

“It is obviously not the most beautiful art object sold this year, but it represents our first half of 2024 well. Since January, we have organized a gold sale (jewelry, coins, bars, editor’s note) per month to allow our seller clients to benefit from the historic price of this precious metal and to sell their assets under optimal conditions.”

It must be said that auctions of gold objects present many advantages for auction houses.

(D.R) - Les "œufs jaunes" du télécabine de Fréjus sont mis à la vente à Serre Chevalier.
Auctioneers Closely Monitor Gold Prices
“Selling gold once a month allows us to follow its price very closely, but above all to settle private sellers or the many notary correspondents of the auction house very quickly, who can thus quickly close estates. We will obviously maintain this monthly pace after the summer break for owners of jewelry, even broken, of coins both French and foreign, and of bars,” adds Maître Schintgen.

And he mentions, among these numerous sales, that superb gold bar no. 785.643 accompanied by its assay certificate dated June 25, 1976, from the Compagnie des métaux précieux (CMP). With an exact weight of 999.9 g and an announced estimate between 50,000 and 60,000 euros, it was finally hammered down at 70,380 euros (fees included).
For this first half of 2024, other objects attract attention in the auction room: luxury watches or jewelry and precious stones are also in demand!

© Maison François Martenot - Si la vente à la bougie n'a plus cours, la vente aux enchères des Hospices de Beaujeu est complètement relancée en 2024.
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⏰ Published on: August 24, 2024