Silver Shines at Shapiro

Silver sales well above estimates at the October auction have confirmed a somewhat surprising new trend. Silver at Shapiro achieved good prices in the September sale with lot 54 a sterling silver Argyle with wooden handle, estimate $400-600, selling for $10,200 (including buyer’s premium) an auction highlight. Now again at the Sunday 19 October sale a sharp increase in interest in silver was evident. Only one of the 46 lots offered did not sell. An Irish sterling silver fish slice sold for $2400 (inc. BP) from an estimate of $600-800. For a decade or so silver sales have been dull, Andrew Shapiro says there are a few factors working in tandem that could account for brightening buyer interest. “Irish silver is particularly selling well and it is the Irish who are patriotically buying it back. Also there is a worldwide push on precious metals and I’ve heard some talk of silver being melted down as has been the case in the past".