How do gemstone auctions work?

Gemstone auctions work by placing authenticated, high-value stones into curated listings, and then registered bidders can compete globally, in real time, until the maximum bid that clears the reserve is actually hit. Before anything starts, prominent auction houses run strict provenance reviews and arrange independent laboratory papers.

Before the event, interested people may attend private viewings to inspect the lots in person, face to face, and ask pointed questions. Once the auction begins, the auctioneer calls for ascending bids, both live in the room and through telephone or via online agents, where the proxy steps in when needed. The final hammer price is what locks the deal, and afterwards, the buyer also pays a premium fee on top of that amount.