The Jewelry Channel to Hold $1M Luxury Jewelry Auction

The Jewelry Channel (TJC) will broadcast a home shopping jewelry auction, The Million Dollar Extravaganza on March 1. From 9 pm to midnight, CST, TJC Head of Merchandising Sayed Haider and Michele Lau will auction on air, and at www.tjc.tv, 15 pieces of luxury jewelry, appraised at more than $1 million total.

“The Millionaire Extravaganza showcases TJC’s commitment to high-quality, high-value luxury jewelry,” commented Haider.

The jewelry pieces include a necklace featuring a 10.52-carat emerald pendant surrounded by 5.6 carats of diamonds, a sapphire-and-diamond bracelet with 18.71 carats of sapphires and a gold necklace featuring an 11.66-carat emerald set off by 14.26 carats of round and pearl-shaped diamonds.

According to TJC President Sri Burugapalli, the auction will address an important question in home shopping – whether or not consumers will buy high-consideration, luxury items on air.

The Jewelry Channel began broadcasting in April of last year and auctions hundreds of fine jewelry pieces daily. Sales through the channel are in the “price-drop auction format,” which means the price for an item will fall periodically until the entire quantity of the item has been sold or the time limit has been reached.

In addition to live programming, the channel also runs short documentaries about jewelry setting and aspects of the jewelry business.