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AstaGuru Auction House – Understanding how the auction industry works

 

Batch 10 of the MGluxM Program at SP Jain School of Global Management went on an industrial trip to AstaGuru - India's Premium Auction House, on May 27, 2022. This event was hosted by MGLuxM alumni - Gaurav Sharma. He took through the whole tour by sharing exciting and thought-provoking facts about how the auction house industry runs.

Batch 10 of the MGluxM Program at SP Jain School of Global Management went on an industrial trip to AstaGuru - India's Premium Auction House, on May 27, 2022. This event was hosted by MGLuxM alumni - Gaurav Sharma. He took through the whole tour by sharing exciting and thought-provoking facts about how the auction house industry runs.

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The students were led on a tour of the stunning products on display for purchase. The silverware range had particular markings to signify that they were original pieces dating back to the royal era.

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The jewellery section was mesmerising. It showed how the style and make of jewellery differed in each part of India. The South Indian jewellery was highlighted by the beautiful long Mango Haara (necklace) that radiated grace and elegance. The North Indian jewellery section boasted sets of Polkis, which are opulent neckpieces worn by Rajasthani princesses and brides.

The sellers of these pieces prefer their identities to remain undisclosed as they don’t want to garner unwanted attention on their families or ancestry. Other pieces of jewellery are vintage pieces by renowned brands such as Cartier.

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The other main attraction of the day was the collection of watches that were shown to the students. All kinds of signature and limited edition watches from brands like Rolex and Piaget were on display.

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Students learnt that the watch industry is slowly declining, and spending a fortune on any new pieces would be a bad investment idea. Instead buying a second-hand watch from authentic dealers is a better investment option, as there would be no extra costs such as taxes and transportation costs.

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The students had an incredible experience at AstaGuru. The young minds were encouraged to dive in and explore a maximum of possibilities before deciding to stick to just one industry as their career.

Some interesting facts about AstaGuru:

  • AstaGuru Auction house mainly functions through an online bidding process and does not conduct any physical auction events.
  • The auction house holds a very niche and wealthy clientele, most of whom source their services through mediators.
  • AstaGuru is not particularly into personally sourcing any of the items for any client.
  • Every piece that is sold here comes with a certificate of authenticity, valid for as long as the purchaser is in ownership of the item. In case customers need to resell the items at a later date, this certificate comes in handy.
 

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