Author Archive: Doerr Dallas Valuations

£5k spend – Jewellery Investment Mission

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Mary Waterfall, Jewellery Specialist

The Brief: My Great Aunt Winnie has kindly gifted me £5K in her will. However she has also specified that I must spend it on something within my field of expertise, something that I believe will increase in value over the next five to ten years.
The Options:
1) Gold
My immediate thought is that I would invest it in gold. The gold price does fluctuate but over a long period of time it usually increases. As I write this, in the final months of 2020, the gold price is quite high. One of the reasons for this is because of the uncertainty in the stock market due to the COVID 19 pandemic, traditionally when share prices go down, the gold price goes up. My plan would therefore be to wait until the markets stabilise, which could take a year or two, to ensure I’m not buying gold at a price peak time. I would then go to auction and buy gold in the form of Sovereigns, chains etc., put it all in a safe for five to ten years, keep an eye on the markets and look for an opportune time to sell and hopefully profit on the investment. I wouldn’t sell at auction though because I would have to pay commission for the privilege. I would go to a jewellers/dealers who buys gold. Then tend to give you a better price per gram the greater quantity you have.
However, that all sounds very good but I wouldn’t get much enjoyment out of that experience. I don’t really wear plain gold jewellery so it would just be locked away and not looked at. Wouldn’t my Great Aunt Winnie prefer me to buy something I would actually wear and love? So my next thought is:
2) Vintage Designer Jewellery
Historically the vintage jewellery of certain brands, such as Cartier and Van Cleef & Arpels, can hold and increase in value. Pieces made in the early to mid-twentieth century can be very desirable and sought after. Clearly it’s a piece by piece case and does not apply to all jewellery made at this time. The ‘rule’ doesn’t necessarily apply to more modern designer jewellery such as the Cartier Love bangle. If you do an auction house online search for these bangles you will see many examples come up. The market is pretty flooded with them at the moment and some of them are the amazingly impressive fakes that are coming out of Dubai, some of which are hard to tell from a genuine bangle if you don’t know what you are looking for.

image of Fake Cartier Love Bangle

Fake Cartier Love Bangle

There is also a bit of a myth that if the jewellery is ‘old’ it will naturally increase in value. Again it depends on the piece but generally this is not the case. I was recently asked to value a diamond bangle that had been marketed as ‘Georgian’ and ‘very rare’. However in reality it was a modern piece manufactured in India and was not as valuable as originally thought.
So I know I need to have my wits about me if purchasing at auction. Another question is will I actually find such a piece that is £5k or under because such items can command high prices.
There are a lot of beautiful brooches out there, which were highly fashionable at the time but not so nowadays. I may be tempted by something like these earrings.

image of gold earrings

Cartier earrings c1970

They are by Cartier, circa 1970 and sold for £3800 plus buyers premium. They are beautifully made, signed and numbered by Cartier and I would wear and enjoy them. However I may also be tempted to extend my search and try and find something within my price range that was made by Cartier slightly earlier.
Conclusion
I think there is more certainty of a profit in strategy one but more fun and enjoyment in strategy two. Which would you choose?
 

The Secrets Revealed by the Back of Pictures

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By Jonathan Horwich, Modern Art Specialist

Next time you’re watching the Antiques Roadshow, look carefully to see what each of the different specialists do when they first examine a new item.

The jewellery specialists will get out their ‘loop’ (a small high magnification eye glass) and examine the setting, the stone its colour, light reflection, hallmarks and all the other little details of interest to them; the furniture specialists will crouch down on hands and knees to look underneath or pull out the drawers to rummage inside; the ceramic specialist will pick up the piece, turn it upside down and go straight for the base to look for marks and stamps and other clues.

The picture specialists have a similar routine. First a glance at the front and then flip it over to look at the back (size allowing). To the uninitiated it may look like they have hardly glanced at the front. So, what are picture specialists looking for? Well, there could be a whole host of things back there such as: if a picture has been re-framed there might be a sticker or a note left by the framer saying what was done and when. In some cases, it may have been exhibited and there may be exhibition labels pasted on the back of the picture. As dates and locations are usually included, this can help lead to identifying whether or not it is a more or less important work. It may have been bought from a commercial gallery and the quality or value may depend on the gallery it came from. There could have been restoration work carried out on the picture and or notes or labels that may give a hint or indication of where and it when it might have been repaired.

I have often heard the phrase ‘it’s got a very good back’ said about a picture with lots of labels. Certainly something attached to the back of a picture will rarely be removed once there, so it often feels like walking through history when looking at the back of a well labelled picture. It probably doesn’t make any sense if you’re not used to it, but it makes perfect sense if you spend your days looking at pictures. I have even seen specialists look at a photograph of a picture and then out of habit, turn the snap over to look at the back for anything interesting!

I thought it might be helpful just to share a few examples of the backs (and fronts) of some pictures and works on paper that I have seen myself. I also try to explain a little bit more about what I’m looking for, what we are seeing and what conclusions if any, we are able to draw.

L S Lowry (British, 1887-1976)
Children Walking up steps
Oil on board, 25 x 35 cm
Estimate, £150-250,000
From the Artist’s estate
Not signed or dated
Sold £137,000, March ‘21

Reverse of Children Walking up steps
Showing top left exhibition label for Crane Kalman London top left. Bottom centre, loan label for The Lowry Salford

L S Lowry (British, 1887-1976)
Broken Shop Window, 1950
Signed, Pastel, 27 x 37 cm
Estimate £35-55,000
Sold £50,000, March ‘21

Backboard of Broken Shop Window; the green label says NAN, code for Christies Cheshire office, and has Christie’s London address, it shows the work was consigned for sale from an owner in or near Cheshire. In white chalk a previous Christie’s sale date, lot 301 8/Jun/90. Black stencil KKS69, this is unique to Christies, London

Victor Pasmore ( British, 1908-1998)
Abstract, 1951-52, 68 x 83 cm, Oil on board
Estimate £60-80,000
Sold £72,750, Nov ‘20

Photo showing the back of above picture

Magnification of labels on the back see this label for an exhibition at a Jonathan Clark’s London Gallery…. No date probably circa 1990- 2000

Owner’s own label, Sir Martyn Becket’s

Carriers label name on label
Rob Oakden
Not significant

Arthur Tooth, a major London gallery label date, circa 1950’s stock no Cl 686

Arts Council 1980 exhibition label catalogue no 22

David Bomberg ( British, 1890-1957)
Old City and Cathedral, Ronda. 1935, signed lower left, oil on canvas, 64 x 76 cm
£400-600,000
Provenance Asa Lingard, Bradford
Sold £790,750

View of the back of Old City and Cathedral, Ronda, it’s all very original with its original canvas no labels evident so look for any writing on the canvas or wooden stretcher

Spotted some writing top left hand corneron the wood , it says ‘ Ronda, David Bomberg, Spain 1935. Possibly the artist’s hand writing or maybe a previous owner?

More writing top centre , it says ‘Richard Cork says Cuenca‘.
Richard Cork is the authority on Bomberg. This is in biro circa 1980’s so not the artist. Cork changed his mind to Ronda near Malaga.

Centre right, ‘Property of Mrs Nimmo‘ a previous owner again in biro so not Bomberg.

William Roberts (British, 1895-1980)
Women playing with Cats
1919, Signed. Pen ink and watercolour, 29 x 20 cm
£150-250,000
Sold £325,250, Nov ‘20

Back of Women playing with Cats; a great looking back.
Top a label for a show at Tate Britain in 1956, catalogue no 186, it then toured the UK.
Also showing the owners name at the time, Michael Tachmindji.
Hamet Gallery label, Feb 1971, very well known and respected gallery, sold by them to another owner. Arts Council label, they organised the Tate Show and its tour around the UK.

The cut out in the backboard shows the title inscribed on the back of the work itself, written by the artist ‘Women Playing with cats’

Ben Nicholson (British, 1894-1982)
Two Forms
Oil on board, 23.8 x 21.6 cm
Estimate £70-100,000
Sold June ‘18, £193,750

Back of Two Forms. See shipping label and owners name Mr Wright Luddington, who bought the work at the Lefevre Gallery London. See Lefevre gallery label underneath. See writing in pencil top centre, Two Forms, Ben Nicholson 1947, this is all the artist’s writing.

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Is The Smart Money Still In Watches?

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It’s a question that is asked of our specialists by all our high net worth clients who have wristwatch collections – whether that be a few ‘accidental’ investments or hardened collectors who purchase an item…. open the box and admire the marvel of what they have in front of them…… and then hide it away in a safe never to be seen again, that is until they need it to be valued or to provide proof to their authorised dealer that their name should be top of the list for that new GMT that us mere mortals have to wait more than a decade to get hold of.
As with most things of this nature, it is not an easy answer.
If I were to ask one of my extremely learned colleagues “Is the smart money still in art?” then the ensuing conversation could probably last hours, would definitely involve strong language, and ultimately would end with everyone having a subjectively correct answer.
Whilst we cannot predict the future, if the last decade has been anything to go by (including 18 months of complete global turbulence) the market has been strong beyond any comprehension that us watch enthusiasts could have possibly thought about 20 years ago.
Rolex, Rolex, Rolex.

The GMT MASTER II ‘Batman’
Brand new retail price – £7,750
Secondary market price – up to £17,000
Without doubt, the most recognisable brand of luxury watch in the world and probably the one that most people still aspire to own. Their marketing is exemplary, their product line is still world beating in many areas and owning one still makes you feel special…..but, the problem is actually owning one.
If you have mustered the courage to enter into one of their boutiques to actually try on some of their timepieces, you will notice that you are being visually credit scored by both the assistant and security guard making sure that you really should be in here……but when you finally see that Submariner that you have dreamt of since seeing Timothy Dalton in Licence to Kill (Insert Connery & Dr No as required) you know it was all worthwhile, but just as you reach for your wallet, the blood drains from your face and you feel like Patrick Bateman trying to book a table at Dorsia.
You cannot buy a brand new Rolex Submariner.
Really.
Seriously.

The SUBMARINER (No date 41mm)
Brand new retail price – £6,450
Secondary market price – up to £12,495
The Rolex waiting list has almost achieved a mythical status amongst watch collectors with times of 25 years quoted in some places for certain Daytona models, however with the Submariner, you may be in luck and possibly could have that watch on your wrist in under five….but should you?
Included are three examples of watches with their brand new price, and what you would have to pay – today to get hold of one on the secondary market

The DAYTONA COSMOGRAPH (40mm Oystersteel)
Brand new retail price – £10,500
Secondary market price – up to £25,000
We could talk about examples such as the ‘Pepsi’, ‘Coke’, ‘Kermit’, and ‘Starbucks’ (seriously) models and show even larger increases in value, however this should give an overview on why your clients need to have their watches valued on a regular basis, and it’s not just Rolex – Patek Phillipe and Audemars Piguet, many other high end brands command eye watering prices on the secondary market.
So is the smart money still in watches?
We shall leave you to decide!
 

You have £5,000 to spend – Yayoi Kusama objects

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£5,000 to spend. A Limited Edition by the Japanese Contemporary artist Yayoi Kusama. By Jonathan Horwich, Modern Art Specialist

I would spend  my £5,000 on a limited Edition by the Japanese Contemporary artist Yayoi Kusama ( born 1929).

Image of Yayoi Kusama tea set

Yayoi Kusama tea set

I would choose one of her objects series, perhaps  a Tea Set (above), or group of mini pumpkins (below) They are all colourful, tactile, fun, attractive, look great on display and invite curiosity. Plus, they offer an investment opportunity, as Kusama’s work has an international appeal and great originality. While still being recognisably her work it is like a strong international brand.  

Image of Yayoi Kusama's 11 mini pumpkins

Yayoi Kusama – Eleven ceramic Pumpkins, one red and 10 yellow, 6 x 8 cm. estimate $2-3,000

Her work comes up for sale all the time, is widely available and sells well around the world. This is of key importance with art investment; the more countries you can sell in the better your chances are of some financial uplift on your purchase price.

Image of single Yayoi Kusama mini pumpkin

Yayoi Kusama mini pumpkin

I have chosen a few examples which I would buy in a heartbeat, all are coming up for auction somewhere around the world currently and the estimates are all under £5,000.
 

You have £5,000 to spend – Early Seiko Watches

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£5,000 to spend. Early Seiko Watches by James Lowe Watch & Jewellery Specialist

In 1969 Seiko introduced the world’s first quartz watch – the Seiko Quartz Astron. It was accurate to about 5 seconds per month, which was a sensational improvement on even the likes of Rolex.

Image of Seiko Quartz Astron

Seiko Quartz Astron

Yes, Seiko produced millions of watches in hundreds of designs and styles, but I would always recommend going for their early sports chronograph watches – especially the divers’ watches in ceramic and titanium.
Avoid the LCD watches, clever though they may be. If they go wrong, you are sunk. Quartz watch movements are seldom repaired to cure a malfunction – it is far easier and cheaper to fit a compatible new movement. However, thousands were thrown away due to malfunction, so a few models are becoming rare. Original paperwork and boxes are a big plus, but again, rare.

Image of Seiko Quartz Astron 50th Anniversary edition watch

Seiko Quartz Astron 50th Anniversary edition

The price range is enormous; dependent on model and type but with auction purchases beginning at about £150 and going up to several thousand, you could start a sound collection for £5000. But patience and diligence in research into the thousands of Seikos out there will pay dividends.
 

An unusual item I have valued

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Mary Waterfall, Jewellery Specialist

An Unusual and Memorable Valuation
One of the most exciting facets of my profession is that I never know what I am going to see. When I embark on a valuation I usually have a list of the items I am going to appraise, such as: five gem set rings, three diamond necklaces, six bracelets etc… However those three necklaces could include anything from a dramatic 19th century two row festoon, to a delicate Art Nouveau floriate pendant or a dazzling modern diamond single stone collet.
On this particular valuation day there were a number of brooches on the list. Brooches have unfortunately fallen from fashion these days and are not worn as much as they were last century. Therefore many of these beautiful jewellery examples are locked away in safes, or kept concealed in bedside cabinets and only get to see the light of day when being appraised by the likes of me. I actually feel quite privileged to get to see them and hear the owner speak of their history and the long forgotten memories that their reappearance suddenly trigger.

Image of Mauboussin, shrimp brooch

Mauboussin, shrimp brooch

One of the most striking pieces I have seen of late was rather unusual, a rose quartz and diamond brooch crafted in the form of a shrimp. The beautifully carved rose quartz panel curved to form the body and connected to the golden head with dancing tentacles, brilliant cut diamond eyes and textured detail. With gold overlaying the body to form the ‘legs’ and terminating at the skilfully scalloped tail. It spanned 11cms to give you an idea of size, so certainly would not be missed when worn to adorn a lapel or dress top. I can imagine it would be a real conversation starter at many a soiree.

Image of Mauboussin, shrimp brooch, side view

Mauboussin, shrimp brooch, side view

The makers mark on the brooch was Mauboussin, a French jewellery company who are famous for their Art Deco and Retro pieces. The company dates back to 1827, but it started gaining international recognition and acclaim in the 1920’s. It is definitely a brand to look out for, especially at auction and antique shops because, as with many of the great designers, the older pieces tend to be so flamboyant, interesting and unique, compared to the more modern, especially from the Deco and Retro era.
The Mauboussin brand remains strong, with boutiques all over the world. Although it doesn’t have a shop in the UK, it would definitely be a store to explore when we are able to travel and go on foreign adventures again.
The second hand replacement value of this shrimp brooch is £6600 and the memory of this valuation will live with me for a long time.
 

African, Modern and Contemporary Art

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cotswolds

Jonathan Horwich

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Collectors are always on the lookout for new opportunities and in a brilliant piece of rebranding over the last couple of years the old style South African Art auctions have re-emerged as a new category known as African, Modern and Contemporary Art.

Ben Enwonwu
Tutu, 1974, oil on canvas
Bonhams, London, Feb 2018. Estimate 200,000 – £300,000, sold for £1,208,750
Auctions now take place in New York and London and the rebranding has widened the catchment area to the whole of Africa, while at the same time still retaining the big hitters such as Irma Stern and Ben Enwonwu , the auctions now include many new artists or previously neglected artists from across the Continent of Africa. Looking around at the current International contemporary sales in all the main sites, some African artists such as El Anatsui have already broken through to the mainstream market. However the vast majority of artists are at a very early stage so it’s still possible to support and spot new stars and over the next 5 to 10 years I would expect to see many more cross over into the mainstream Contemporary auctions.

El Anatsui
Recycled Dreams, c2005. Found aluminium bottle caps and copper wire.
Christies, New York, Nov 2018, Estimate 700,000 – 1,000,000 USD, sold for 1,512,500 USD
Here are a few examples from recent sales and it’s encouraging to note that the price range is wide and the choice of work is vast, all the way from £2,000 to £2 million and there is plenty of work available at entry and all levels in every sale, the volume of art being produced by this vibrant and vast Continent is more than enough to satisfy even the most enthusiastic collector.

Billie Zangewa
The Cotswolds, 1973. Embroidered silk.
Aspire Art Auctions, Sept 2019, Estimate 9,800 – 16,400 USD, sold for 14,987 USD
Covid has brought us many challenges and the world of auctions and galleries have responded brilliantly to the call for greater visibility about what is available to buy .

Chéri Samba
J’Aime la Couleur, 2005. Acrylic and glitter on canvas.
Sotheby’s London, April 2019, Estimate £40,000 – £60,000, sold for £93,750
So now It’s super easy to browse to find what appeals to you. It’s easy to follow the sales and bid online, take your time before buying, and I think you will learn and enjoy!

Ibrahim El Salahi
Standing Figure. Pen and Ink.
Bonham’s London, March 2019, Estimate £15,000 – £20,000, sold for £50,062
Some artists to look out for are:
El Anatsui , Ben Enwonwu, Gerard Sekoto, Ibrahim El Salahi, Yusuf Grillo, Demas Nwoko, Skunder Boghossian, Malangatana Ngwenya, Iba N’Diaye, Papa Ibra Tall, Sam Ntiro, Uzo Egonu, Uche Okeke, Bodys Isek Kingelez, Njideka Akunyili Crosby, Eddy Kamuanga Ilunga, Pascale Marthine Tayou, Irma Stern, Nicholas Hlobo, William Kentridge, Chéri Samba, Billie Zangewa, Abdoulaye Konate, Ouattara Watts.

Gerald Sekoto
Cyclists in Sophiatown. Oil on canvas board.
Sotheby’s London, October 2019, Estimate £250,000 – £350,000, sold for £362,500
Artists hail from Angola, Benin, Congo, Côte d’Ivoire, Ethiopia, Ghana, Malawi, Mali, Morocco, Nigeria, Senegal, South Africa, Sudan, Tanzania, Uganda, Zimbabwe and other countries in Africa.

Artists to Watch in 2021

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Jonathan Horwich,Modern Art Specialist

Some new or not so well known artists who have all outperformed auction expectations during 2020.
The advent of online only sales and bidding has not only broadened the International reach of Contemporary art auctions but also spawned new trends that have moved more quickly and been much more noticeable, especially in the Contemporary day sales which have often been overshadowed by the evening auctions. This makes the day sales even better hunting grounds and barometers of who is hot or not. Early evidence of up and coming artists is seen when their hammer prices hurtle past their high estimates many times over.
Here are a few of the artists who exceeded expectations at day sales during Covid restrictions in 2020. I think they are all ones to watch and may well appear in an evening sale soon!
Matthew Wong, River at Dusk, (2018)
Matthew Wong River at Dusk
Matthew Wong (Canadian, 1984-2019)
River at Dusk, 2018, oil on canvas, 203 x 178 cm
Offered at Phillips Hong Kong, December 3, 2020, estimate 7-10 million HKD sold for 37,760,000 HKD. A new world record for the artist.
The Canadian born Chinese Matthew Wong smashed into the International Art market in 2020.
His ‘River at Dusk’ painted in 2018 was offered in Hong Kong on December 3rd 2020 by Phillips in association with Poly Auctions. It made nearly 5 times its low estimate of 7 million HKD (approx. £700,000) selling for 37,760,000 HKD . Self-taught as a painter , Wong’s untimely death in 2019 at the age of only 35 has robbed us of one of the most talented painters of his generation. Therefore inevitably and tragically the number of his available works is limited.
Salman Toor, Rooftop Party With Ghosts 1 (2015). 
Salman Toor Rooftop Party wth ghosts
Salman Toor, Rooftop Party With Ghosts 1 (2015) Photo courtesy Christie’s.
Auction: Christie’s New York, December 3
Estimate: $100,000 to $150,000
Sold For: $822,000
Salman Toor, was born in Lahore, Pakistan in 1983
and lives and works in New York City
Christina Quarles, Tuckt (2016)
Christina Quarles, Tuckt
Christina Quarles, Tuckt (2016). Photo courtesy of Phillips.
Auction: Phillips New York, December 8
Estimate: $70,000 to $100,000
Sold For: $655,200
Christina Quarles was born in Chicago, IL in 1985 and raised in Los Angeles, CA. She completed her BA at Hampshire College in 2007 with a double concentration in Philosophy and Studio Arts. Christina earned her MFA in Painting and Printmaking from Yale University in 2016. She currently lives in Los Angeles, CA with her wife and two cats.
Christina Quarles is being hailed as the ‘hottest artist in America’
Pilar Corrias Gallery in London, recently sold works for as much as $200,000. In 2021 Quarles’s delayed solo show opens in Chicago, debuting dozens of paintings and sculptures.
Bernard Frize, Néoco (2004)
Bernard Friz, Néoco
Bernard Frize, Néoco (2004). Photo courtesy Sotheby’s.
Auction: Sotheby’s Paris, December 11
Estimate: $49,000 to $73,000
Sold For: $198,000
Bernard Frize was born in France in 1954 and in addition to the one above , on December 3, a painting sold for $276,000 at Phillips’s evening sale in Hong Kong, and then days later, at Sotheby’s Paris, another went for $198,000—well over its high estimate of $73,000.
Alex Gardner, Moment (2018)
Alex Gardner, Momen
Alex Gardner, Moment (2018). Photo courtesy Phillips.
Auction: Phillips New York, December 8
Estimate: $20,000 to $30,000
Sold For: $170,000
Alex Gardner is an LA based American painter, he was born in 1987
In his first ever appearance at auction, Gardner saw his 2018 painting Moment, sail past its $30,000 high estimate to sell for $170,000. As far as I can tell this is his first time out and the only pictures offered at auction so far, it certainly will not be the last !
Ayako Rokkaku, Untitled (2012)
Ayako Rokkaku Untitled
Ayako Rokkaku, Untitled (2012). Photo courtesy Christie’s.
Auction: Christie’s Hong Kong, December 2
Estimate: $45,000 to $71,000
Sold For: $306,000
In 2003, the self-taught Japanese artist Ayako Rokkaku, then just 21 won the Scout Prize at Geisei, the biannual Tokyo art fair founded by artist Takashi Murakami. Since then, Rokkaku has continued to make her manga-inspired, largely hand-painted works, which often involve cartoonish depictions of young girls.
In early December at the Christie’s Hong Kong auctions series, a signature work by Rokkaku sold for $306,000, well above its high estimate of $70,000, thus creating a new record for the artist. This record did not last long as at the the Taiwan auction house Ravenel, when The Sisters, sold for $416,000.
Kudzanai-Violet Hwami, Eve on Psilocybin (2018)
Kudzanai Violet Hwami Eve on Psilocybin
Kudzanai-Violet Hwami, Eve on Psilocybin (2018). Photo courtesy Phillips.
Auction: Phillips New York, December 8
Estimate: $30,000 to $40,000
Sold For: $252,000
Born in Zimbabwe in 1993 Kudzanai-Violet Hwami is another new young artist on the gallery and auction scene. Although only 26 at the time she was chosen as one of the four artists to represent Zimbabwe in the 2019 Venice Biennale despite the fact that she will not finish her MFA at the Ruskin School of Art until this year, 2021.
Hwami’s first auction showing was for her psychedelic Eve on Psilocybin , it was lot 1in the sale and it set a strong trend for the whole sale, multiple bidders pushed the price up to $252,000, well above the high estimate of $40,000
 

The Importance of a Professional Jewellery & Watches Valuation

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If you have never needed a valuation completed, the cost is not as much as one might think and the easiest way to find out is to ask for a detailed quotation. As we charge on a time basis, all we need to know is the number of pieces, briefly what they are and your location.
Why do you need a valuation?
If you find yourself in a situation whereby you suffer a loss and need to make a claim on your insurance, the first questions you need to ask yourself are;

1. Can I show what the item was and that I owned it?
2. Do I have a detailed listing or the original receipt and a photograph of the item?
3. Do I know the value of the piece?

The easiest way to protect your jewellery in the event of a loss or damage is to insure it for its true value which will require a regular and up-to-date valuation. So, in the event of a loss you can provide your insurer with all of the above details easily and with as little fuss or inconvenience as possible.
A valuation will provide you with a document giving you a detailed description of the item(s), to include details of the stone, size, metal etc… and providing a value. If the diamond is certified, the certificate number should be noted within the description, as well as the name of the grading laboratory. It should be dated and also stated exactly what type of valuation it is. For insurance purposes, you will be looking for a value that will enable you to replace your treasured piece. Our specialists will always discuss with you about how you would choose to replace the item in an event of a loss. Many insurers apply a ‘New for Old’ replacement clause to Jewellery and Watches however if your ring is antique or obsolete our valuations will reflect this within our report and base of value on either a second-hand replacement value or secondary market replacement. We also check all clasps and settings of your jewellery as many insurers have a ‘Clasps and Settings clause’ in their policies which you may not be aware of until you suffer a lost.
Image of an Asprey three stone diamond ring
Asprey. A three stone diamond ring
Value in 2005 – £26,000
Value in 2012 – £33,000
Value today – £54,500
Insurers may only ask you to provide a valuation for items over £20, £30 or £50,000 depending on the insurer – however, we always ask a client if they can provide ownership, show what the items were and values in the event of a claim. This is always a ‘no’ in most cases… so, what happens in the event of a claim?
Without a valuation, insurers often use claims management specialists to try to find the value of jewellery after it has gone – an unsatisfactory process known as a post-loss valuation. Valuing something after you have lost it often results in an under-assessment of the lost item’s true value or not having your claim paid at all. We are asked to review photographs on a regular basis of jewellery that has been stolen, asking us if we can value it post loss, unfortunately without being able to see the piece and examine the piece we cannot provide a value.
Often this is a very distressing time which could have been avoided with a professional valuation.
So, when you need your jewellery and watches appraised, you can put your trust in us to look after you.
Image of a diamond Solitaire ring
A diamond Solitaire ring
Purchased 1999: £15,000
Valued in 2010: £22,000
Algorithm calculation £23,552 (index linked value insured for!)
Correct Value: £40,750
Our valuations follow a successful method that works by being an in depth, and cost effective process; Our specialist will attend your home – all of our team have formal qualifications and substantial experience within the industry and provide a friendly and professional service. Our team of administrators will look after you from the point of contact to you receiving your report within 15-20 days of your appointment.

Patek Philippe. A Nautilus 40th Anniversary Limited Edition Flyback Chronograph watch
Value in 2016 – £ 75,000
Secondary Market value – £400,000+ (now discontinued)
Now more than ever it is so important that your jewellery values and listings are up to date with your insurance company.
Once you have a valuation completed by us, we hold this information on our secure database, so in the event of any loss we assist you with your claim and provide an up to date value, which will ensure you receive the correct compensation enabling you to replace your item.
The most important reasons for a valuation are;

• In order to be fully insured, your jewellery needs to be listed separately on your Home Contents Policy with a broker who offers a bespoke policy.

• When you need to claim the valuation will provide you with

o Proof of ownership
o A detailed description of the item
o Proof of value

Without them you may end up with an unfair settlement, and no way of proving it.

• The valuation reports will increase your chances of successful recovery by the Police and addition to any registers.

Graff. A ruby and diamond Lotus pendant and earrings
Graff. A ruby and diamond Lotus pendant and earrings
Value in 2015 – £102,740
Valued today – £135,000
Like all markets, the price of silver, gold and diamonds go up and down as do the costs of manufacturing. All diamonds are traded around the world in US dollars, so exchange rates also affect todays values.
We strongly recommend a valuation is updated every 3 years however, if you are a collector of watches you may want to review these values annually as we have seen many makers discontinue certain styles which can increase their values.
Finally, always ensure you are using a reputable company when having a valuation completed and ensure you receive a copy of their Terms and Conditions of Business and they have at least £5m Professional Indemnity Insurance which is an industry standard.
Call us today for a quotation on 01883 652402 or email [email protected] and speak with Rachel. Our specialists cover the whole of the UK and Europe.

End of Year Old Master London Sale Review

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By David Dallas, Old Master Specialist

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Although the pandemic has had a negative impact on the way the auction rooms in London gather consignment, prices were strong and the sell-through rate was very acceptable.  Traditionally, the majority of lots tend to journey in from Continental Europe but with specialists unable to travel, all inspections have had to be done on-line. There is only so much you can determine from a jpeg and unfortunately an accurate or definitive idea of condition is almost impossible to establish.

Jan Davidsz. De Heem. A banquet still life

Jan Davidsz. De Heem. A banquet still life. Oil on canvas. 5’1” x 6’11”
Lot 10, Christie’s, 15th December 2020
Price Realized: £5,766,000 with premium

As numbers of lots are down, turnover is too. Christie’s offered 44 lots in their evening sale and Sotheby’s a meagre 27, compared to a normal year when 50+ would have been offered. The total for Christie’s, Sotheby’s and Bonhams in December was £39.2, just over 1/3 of the total for 2018.

Domenico Ghirlandaio, Salvator Mundi.

Domenico Ghirlandaio, Salvator Mundi. Tempera and oil on panel. 13 1/8” x 9 3/8”
Lot 21, Christie’s, 15th December 2020
Price Realized: £2,182,500 with premium

However, prices were strong and the sell-through rate was very acceptable. The top lots at Christie’s was a sumptuous banquet still-life by Jan Davidsz. de Heem, which sold for £4.8M (hammer), a record for the artist and a record for any still-life by an Old Master. Another record price was the £1.8m (hammer) paid for a beautiful Salvator Mundi painted by Michelangelo’s master Domenico Ghirlandaio, which was in pristine condition. Sotheby’s sold a massive canvas measuring 4’ 8” x 8’ 9” of a wine harvest by David Teniers the Younger for £3M (hammer). This picture had not been seen in public for 140 years and proves that freshness to the market adds a premium of its own.

David Teniers. The Wine Harvest.

David Teniers. The Wine Harvest. Oil on canvas. 56 x 105”
Lot 12, Sotheby’s, 10th December 2020
Price Realized: £3,645,000 with premium

This year has got off to a challenging start in the art auction world, with Old Master specialists suffering from travelling restrictions, but if 2020 is anything to go by, there will be a healthy appetite for whatever they can glean and garner.