I came across this gorgeous necklace in today’s online jewelry auction. Though several bidders have placed their bid on the piece, the reserve price has not yet been met.

That means the piece will be back in our auctions for more bidding!

If a reserve price has not been met, it means the highest bid hasn’t reached the minimum bid set by the auctioneer. Not all auctions have reserve prices, but it is not unusual to come across this in high-end auctions.

For example, this necklace has a retail value of $50,699.00. Though it is not stated what the reserve price is, the current bid on $2,551.00 hasn’t made the cut. The 14K yellow gold necklace holds a total of 74.80 carats worth of diamonds and rubies. The necklace holds 52 round cut white diamonds and 105 multi-shaped purple-red rubies. It is truly a piece of fine jewelry and has had a reserve price set in order for the piece to be sold at a high enough price to cover the cost of the materials!

Keep an eye on our auctions daily and take notice of pieces with and without reserve prices. Even if a piece has a reserve price, don’t be shy! Make your bid and take a chance!