Paul, the octopus, became very famous during the soccer world cup in South Africa. Now it is Polly Emerald which is in the news. It is a massive stone and one of its kind. The 1,040 carat emerald heads to auction this weekend on August 29 at LiveAuctioneers.com. The Polly Emerald is being offered for sale by the Government Auction.com.
You may estimate the importance of the precious stone by the fact that it is going to be a single lot auction. And another fact that indicates the confidence of the seller in the emerald and its value is that there would be no reserve price fixed for Polly and it would go to the highest bidder. The gemstone has been appraised by a GIA certified appraiser and the value of the stone is estimated around $454,000. Some might consider it to be the reserve price and start bidding beyond that threshold.
LiveAuctioneers will provide Internet live bidding for this special auction, which will consist of the lone lot selling at 6 p.m. Pacific, 9 p.m. Eastern Time. As mentioned earlier, there would be no reserve price but a value estimate from an appraiser. Phone bids will also be accepted. Absentee bids will be allowed but with a deposit of $50,000.