A mystery buyer paid £44,000 for 10 lots of Clogau gold at an auction in Conwy yesterday (Tuesday November 28).

Mr David Rogers Jones, senior partner of auctioneers David Rogers Jones said: “There were 10 lots and the same buyer outbid everyone else to acquire the entire amount.

“I’ve never come across anything like this, while there was only one bidder in the saleroom, there was intense bidding by telephone and on line. I can’t say who the bidder was, I can’t even say where the bidder was located, what the gold will be used for or where it will go.

“The owner who put it up for sale, wanted a ‘Clogau’ premium over the actual bullion value, which was £2,000, and so placed a total reserve price of £8,000 was laid. However we were astonished when all the lots achieved £44,000.

“The quantity of the gold was just under two ounces, more than enough for a wedding ring.”   

Clogau gold has traditionally been used for Royal wedding rings.