The Pearl Renaissance

Posted on January 13, 2025January 13, 2025 by Liz Bailey

According to Jewellery Net’s Pearl Report 2024-5, “The pearl industry is witnessing a renaissance of sorts, ushered in by shifting perceptions of the pearl among a more discerning clientele.” Eagerly awaited by jewellers, retailers and auctioneers for some time, this ‘renaissance’ certainly appears to be bolstering values and signalling a buoyancy in the top end of the market, in particular for fine cultured pearls that had previously been waning.

The pearl report points towards the ‘sustainable nature’ of pearls as a key factor in attracting a refreshed and renewed interest, as well as attention from a younger ‘Gen Z’ demographic. Indeed, it appears that in 2024, the secondary market at auction has reflected this, with continued high prices for natural pearls, and a revived interest in certain aspects of the cultured pearl market.

Natural pearls:

In terms of desirability, natural saltwater pearls have been and continue to be the most sought-after type of pearls at auction. Performing steadily and consistently well in years gone by, 2024 echoed a strength in the market for rare larger pearls, blemish free, with a pleasing body colour and where applicable evenly matched within a jewel. Other factors such as designer attribution, historical provenance and market scarcity also played a key role in achieved prices across 2024.

Christies witnessed the sale of some spectacular natural pearl jewellery this year, frequently fetching hammer prices in excess of six figures. One such example was a natural saltwater pearl and diamond single strand necklace. Featuring forty-three pearls (eleven of which were cultured) graduating in size from 7.25mm to 12.20mm, this piece achieved a final hammer price of $378,000 in their June New York Magnificent Jewels Auction.

Remarkably, in this same sale, a pair of slightly baroque natural saltwater pearl and diamond earrings measuring 14.8mm in diameter each achieved a hammer price of $277,200, demonstrating the demand for these relatively rare, large, well matched natural saltwater pearls in the international market.

Fine Victorian natural pearl jewellery performed incredibly well at auction this year, with some of the highest hammer prices achieved going to late 19^th century pieces. A spectacular enamel, pearl, diamond and gem-set piece by Marcus & Co dating to 1895 sold at Bonhams this June for a staggering £165,500. This piece was set with two natural pearls, to include a 13.5mm bouton pearl, and a later 13.25ct natural pearl drop together with over 15 carats of diamonds. This beautiful lot achieved the highest hammer price for pearl jewellery sold at Bonhams in 2024, and achieved a house record for jewellery by Marcus & Co.

A fabulous auction result for Gloucestershire saleroom Chorleys was achieved in the same month, with a Victorian natural saltwater pearl necklace and detachable pendant/brooch. Showcasing a principal natural pearl of 8.46ct, a sizeable natural pearl drop, and slightly graduated natural saltwater pearl beads measuring 5.2mm-6.9mm, this piece fetched a hammer price of £85,000.

Elsewhere, records were set this year with the largest ever discovered natural freshwater pearl from Scotland selling in August. This impressive round freshwater pearl measured 10.5-10.6mm in diameter and fetched a £75,000 hammer against an estimate of £40,000-60,000.

Cultured pearls

Previously the victim of a downturn in value, hammer prices for cultured pearls in 2024 were incredibly promising. With some fantastic prices achieved for the finest cultured pearls on offer, this market trend offered a glimpse into a hopefully much more buoyant future for cultured pearls – although it is worth noting that low prices and unsolds remained the general pattern for smaller, worse quality and unattributed cultured pearl jewellery.

Top hammer prices this year were reserved for large, well-matched, symmetrical round cultured pearls, with a great lustre and blemish-free surface. One such example was a necklace by the ‘founder’ of cultured pearls’ eponymous company Mikimoto. Featuring one long strand of 140 round cultured pearls measuring at least 12mm in diameter each and terminating with a pavé set diamond clasp, this piece reached $44,800 at Bonhams in September 2024. For the sake of comparison, a Mikimoto strand of 8mm pearls, nearly twice the length with similar pavé set diamond clasps sold for £5,500 in 2021.

Cultured pearls set in designer jewellery also achieved great hammer prices at auction. Featuring much smaller cultured pearls at only 3.5-4mm each, an exquisitely made gem-set sautoir by Van Cleef & Arpels dating to 1975 caught the attention of bidders at Bonhams in June of this year, and subsequently sold for £38,400 inclusive of buyer’s premium.

Similarly, a more contemporary design in the form of cuff bangle by Bulgari set with sixteen cultured pearls of around 7.5-8mm in diameter together with 7-8 carats of pavé set diamonds sold at Christies Paris in the same month for €25,200. A similar example of a Bulgari Parentesi bangle set with twelve cultured pearls and approximately 7 carats of diamonds remained unsold with an estimate of £6,000-8,000 at an auction in November 2022.

These examples show an extremely promising upwards turn for fine cultured pearl jewellery in 2024, which – with any luck, will stabilise if not grow well into 2025.

Conch and Melo pearls

Conch and Melo pearls are another category of natural pearls to retain a high desirability and value, weathering the ‘storm’ experienced by their cultured counterparts. Owing to their rarity, gorgeous hue, and unique ‘flamed’ lustre, these non-nacreous pearls have long been incredibly valuable. Auction results of 2024 echoed this continued buoyancy in value, with a fine 19mm melo pearl and sapphire ring by Hemmerle selling at Bonhams in June for £52,100 inclusive of premium.

An impressive suite of jewellery comprising no less than seven conch pearls set within a pair of drop earrings and a cocktail ring was accompanied by two GIA reports and sold at Christies Hong Kong for HK$1,008,000 in May.

Whether set in jewellery or offered as a loose gemstone, conch and melo pearls remain highly sought-after, with a 24.54ct melo pearl selling in 2022 for $31,875, and a 10.01ct conch pearl selling in the previous year for $11,475 at Bonhams.

Keeping in mind the strength of prices for both natural and cultured pearl jewellery across the salerooms in 2024, it is vital to ensure that your insurance valuations offer adequate cover and that your jewellery is documented by a specialist.

For further information on our insurance valuations from our nationwide team of specialists, contact us via [email protected].

The 12 days of Christmas – A gift guide!

Posted on December 22, 2024December 18, 2024 by Aurélia Turrall

In 2014, Sotheby’s sold a copy of Mirth Without Mischief for $23,750, dating from 1780 in which the first version of the famous Christmas carol Twelve days of Christmas appeared for the first time.

Christmas Carol, Sotheby’s 2014, estimate $7,000 - 10,000, Containing The Twelve Days of Christmas; The Play of the Gaping-Wide-Mouthed-Wadling-Frog; Love and Hatred; The Art of Talking with the Fingers; And Nimble Ned's Alphabet and Figures. London: Printed by J. Davenport ... for C. Sheppard,1780. No copy has appeared at auction in the past 40 years; only 1 copy recorded (Opie collection, Bodleian Library, who dates it c. 1780), all others in Worldcat are e-books. Not in Cotsen

Some historians believe it could be French and could have been created as a memory game, to help Christians learn and remember the principles of their faith. Though this could and has been refuted by some, let’s have a look at what is gifted during the Twelve Days of Christmas.

On the first day of Christmas, my true love gave to me a partridge in a pear tree.
Day 2: two turtle doves
Day 3: three French hens
Day 4: four calling birds
Day 5: five gold rings
Day 6: six geese a-laying
Day 7: seven swans a-swimming
Day 8: eight maids a-milking
Day 9: nine ladies dancing
Day 10: 10 lords a-leaping
Day 11: 11 pipers piping
Day 12: 12 drummers drumming

So many days of festivities, so many outfits! Here is my choice for what I would wear during the Twelve Days of Christmas.

The Twelve days start on the 25^th December, and it is a full day of socialising so the perfect purse for this occasion would be an Art Déco velvet and coral bag by Cartier, dating 1920s, which sold at Bonhams for £2,295.

On the 26^th, in keeping with the Christmas colours I would wear a sapphire, ruby and diamond swivel ring. Sure to grab people’s curiosity if I flip from ruby to sapphire during the course of the day. A ring such as the below would sell for approximately £1,000 at auction.

On the 27^th, when guests have come and gone, I can sit back and admire the Christmas tree. But whilst doing so, I would wear another Cartier piece reminding me of a fancy Christmas tree: a ruby and diamond brooch mounted in platinum dating the 1920s.

With approximately 2 carats of diamonds, this brooch sold for USD 47,880, with a pre-sale estimate of USD 40,000 – 60,000

On the 28^th, to remind me that time is still passing by even though it seems to have stopped for a few days, I would look down at my Patek Philippe 4282 in onyx, malachite and yellow gold with diamond highlights. A combined delight of wearing both an exceptional timepiece and quality jewellery.

This watch sold at Dawsons Auctioneers in 2022 for £14,000 against a pre-sale estimate of £2,000-3,000.

On the 29^th, there might be some event, show or concert to see. And for this, I would take inspiration from non-other than the Princess of Wales. Last year she wore Van Cleef & Arpels Magic Alhambra earrings, retailing for £6,000, up from £5,400 the previous year. Seems to always be good investment to buy a renowned jewellery brand!

On the 30^th, I would wear a jewel set with a restorative gem as the legends have it. This would be quartz. And who else would I wear but Pomellato who have based their name in declining all coloured quartz in every style possible based on one specific design: the Nudo ring.

Ranging from £1,800 with a rose quartz ring, the collection goes up to £5,700 with a pair of prasiolite and diamond earrings.

With quartz’ powers to energise, remove all negativity and give peace and optimism, I’m all set for New Year’s Eve celebrations.

On the 31^st, I would wear the present I found under the Christmas tree. And just like it was beautifully wrapped, it too looks like a present: the Tilda Bow diamond ring by Graff.

With a little over 2 carats of diamonds, it retails for £13,000 and would be the gift that keeps on giving every time you would glance at it!

2025 will be the year of the Wood Snake in Chinese culture. Snakes symbolise eternity and in zodiac signs, they are said to be hardworking and driven. I can’t think of a better way to start the year and to embody those images. And for that the perfect bangle sold by Bonhams in 2020 for USD 2,800, set with 1.25 carats of diamonds, and coiled in the tradition of snake and serpent bangles found in all antique jewellery.

On the 2^nd January I would subtly remind the people around me how they make me feel with the Tiffany T Smile pendant necklace. Retailing for £3,250 and set with under 0.20 carat of diamond, it could be seen as a costly reminder but worth every penny!

On the 3^rd as I “hit the town” for some shopping to enjoy the new year’s sale, I would need something practical to plan my day and for that I choose a Jaeger LeCoultre Reverso Classic Duetto, at £16,500.

With its guilloché blue or silver dial to suit day or evening mood, the Reverso is chic and understated with perfect lines. One of my all-time favourites.

On the 4^th it would be a day of catching up with friends and discussing the sales purchase. And to do that, pairing a simple outfit with Chanel jewellery seems like it would be the go-to look: faux pearl and paste crystal earrings, in gunpowder metal. This vintage pair of earrings sells for £645.

Finally, as a reminder of the good and bad times, those past and to come, I would choose to wear a diamond eternity ring as I start the new year at work. As a symbol of the circle of life, the unbreakable bonds that make us who we are, and the diamonds’ sparkles representing an echo of life’s dazzling surprises. Graff’s Emerald Cut diamond ring retails for £60,500 and is set with 7.60 carats of diamonds, that’s a lot of dazzling!

These are the jewels I would wear for 12 consecutive days after Christmas. I never said it was going to be a cheap Christmas… Wishing you Best Wishes for the New Year.

If you recieved some beautiful Christmas gifts this year, make sure you have them valued correctly for insurance purposes – get in touch to find out more about our valuation services by emailing [email protected] or calling us on 01883 722736.

Inside the Record-Breaking Sale of the Anglesey Necklace

Posted on November 15, 2024November 22, 2024 by Liz Bailey

Sotheby’s Royal & Noble Jewels Sale took place in Geneva on Wednesday 13^th November. This historic sale presented a spectacular selection of historic fine jewellery, with provenance relating to several royal and noble families, including Tsar Ferdinand of Bulgaria and his family, Countess Mona Bismarcak, King Umberto II of Italy, the Ducal House of Bavaria and the Princely Thurn und Taxis family. Featuring 174 lots, this auction featured a stunning selection of tiaras, necklaces, rings, suites, cufflinks, tie pins, cigarette cases, seals, pocket watches and many more jewels with illustrious provenance.

The Anglesey Necklace

Designed as a pair of old cushion-shaped diamond tassels connected by three rows of collet-set old cushion-shaped and circular-cut diamonds, length approximately 670mm, fitted case.

Undoubtedly the most anticipated lot of the sale was the Anglesey Necklace. This highly important and historic jewel is an incredibly rare survivor of the Georgian court, set with a breathtaking 300 carats of diamonds and crafted with hugely innovative techniques for the time. An outstanding jewel to be in private hands, this piece has been known as the Anglesey Necklace, owned by the Paget family for centuries, thence a private collector, and offered for auction as the centrepiece to this historical sale. Estimated at 1,600,000 – 2,200,000 CHF (£1.4 to 1.9 million), this significant Georgian necklace finally sold at 3,550,000 CHF (£3,154,246.00).

Formerly in the collection of the Marquess of Anglesey, the Anglesey Necklace has featured in two important jewellery exhibitions of the 20^th century, first in 1959 as part of The Ageless Diamond Loan exhibition in London, sitting alongside many famous Royal and aristocratic diamond jewels including the Williamson Pink Diamond and the brooch set with the Cullinan III and IV diamonds belonging to Queen Elizabeth II. Twenty years later in 1979, the necklace featured in the American Museum of Natural History’s Bicentennial Exhibition.

A Marie Antoinette Connection? The lore of the Anglesey Necklace

The lore surrounding this jewel carried a huge significance and of course an impact on the subsequent value. Although there is no formal or documented evidence of a connection between the Anglesey necklace and the jewel that sparked the French Revolution, there are of course compelling factors that could plausibly link the two.

The sheer grandeur and scale of this piece narrows down the few noble ladies who could have owned this jewel. Set with nearly 300 carats of rare, Golconda diamonds (the South African mines were not discovered until 1867) and encased within unconventional, innovative and cutting-edge open back settings to allow the full radiance of these valuable stones.

There are no documents detailing this piece in the collection of the Paget family until the later part of the 19^th century. From its creation in the late 18th century, this is a monumental jewel to not be featured in inventories and documents of the time. As Sotheby’s point out,

“it is unclear exactly how the Paget family came in possession of this diamond jewel, a link to the first Marquess seems plausible given its date.”

In 1785, a diamond necklace created for Marie Antoinette was stolen in Paris. Records show that six months later, a London jeweller William Gray purchased 300 diamonds from the Marie Antoinette necklace totalling 600 stones. Stylistically, the tassels on the Anglesey necklace and the sketches of Marie Antoinettes necklaces do appear incredibly similar, which adds to this compelling tale.

More recently, in American-born British conservative politician and society figure, Sir Henry “Chips” Channon’s diary published in 2022, there is reference to this seeming connection. He mentions a part of Queen Marie Antoinette’s infamous necklace,

“at least two ropes of it, the rest, according to history, was broken up before the French Revolution but I believe the Anglesey tassels, which Marjorie sometimes wears, are a part of it.”

Sir Cecil Beaton photographed the Anglesey Necklace, as it was then known, being worn as a négligé by the glamorous and sophisticated Marjorie Paget, Marchioness of Anglesey, during George VI’s coronation 1937. The necklace was also worn at Elizabeth II’s coronation in 1953.

Irrespective of the alleged connection to the French Revolution, the Anglesey Necklace is a rare survivor of an incredibly opulent Georgian Court. Designed to be worn in many ways, knotted at the neck, worn as a négligé, draped over the back, or even as a belt, this superb diamond necklace is without a doubt “one of the most outstanding Georgian jewels” (Andres White Correal – Head of Royal and Noble Jewels, Chairman, Sotheby’s Jewellery), and a historic result at auction for jewellery of the period.

To find out more about our jewellery valuation service by calling us on 01883 722736 or emailing [email protected]

Exploring The Boodles National Gallery Collection

Posted on November 6, 2024November 11, 2024 by Aurélia Turrall

I was recently privileged enough to handle a very unique piece of jewellery by Boodles: The Boodles National Gallery Collection’s Play of Light Lake Keitele bangle.

In light of one of the nation’s favourite museum’s 200^th anniversary, Boodles has created a special National Gallery Collection of jewellery. The National Gallery is considered one of the world’s greatest art collections and open its doors in 1824, after the British government purchased 38 paintings from the heirs of John Julius Angerstein that same year.

The museum now holds paintings by Botticelli, Caravaggio, Cézanne, Constable, Ingres, Holbein, Seurat, Titian…to name but a few. But it wasn’t always a guarantee that these masterpieces would be remain within the collection, safely. During the Blitz, the collection was distributed in safe houses, until it found its way to a Welsh slate mine, where the artwork stayed between 1941-45. When the bombing was less intense, the museum decided to show one painting a month. This is the origin of the museum’s current Picture of the Month. The picture was taken down every evening for safe storage in the museum’s underground strong room.

Now, 200 years after the museum opened, Boodles have celebrated the extraordinary collection by creating a unique line of high jewellery inspired by the artists and their creations.

The paintings have generated four specific themes around which the jeweller “plays” with: Perspective, Brushstrokes, Motherhood and Play of Light.

Perspective

Inspired by Canaletto’s view of Venice and mastering of perspective, Boodles have created the Perspective Collar set with 12 main Ashoka diamonds weighing 9.04cts total, and 14.29cts of remaining diamonds. A jewelled architectural delight, it is mounted in platinum and reflects the Doge’s palace beautifully.

“The Ashoka cut diamond was perfect for Perspective, the vertical lines and unique cut worked so well with the idea of an architectural landscape” says Boodles Director of Design, Rebecca Hawkins.

Brushstroke

For the Brushstroke collection, “we drew on for inspiration [from] the brushstroke technique used by particular artists. We found that within some paintings, such as Van Gogh’s Sunflowers, 1888, the brushstrokes employed were very visible- you could literally see the way in which the paint had been applied to paper. This in turn inspired our Brushstrokes suites.”

The use of aquamarine in this collection is a statement to the use of blue brushstrokes in Cézanne artwork, along with the feminine rose gold and scintillating diamonds, giving this collection a dynamism echoed in his technique.

Motherhood

In Motherhood collection, there is a clear selection of “soft” gems and colours. The pendants, rings and bracelets all use diamonds, but also pink diamonds, and moonstone, where “pear and oval shaped diamonds [are] nestled together, reflecting the idea of an embrace.”

In the Motherhood Aquamarine pendant, the use of aquamarine reminds me of water and of babies in utero, with the moonstone’s shimmering warm colours, all encompassed within the solid and indestructible diamond frame. But of course, it also echoes the Madonna with child. The interpretation is up to the eye of the beholder. This pendant retails for £15,000, while its counterpart in diamond and pink diamond retails for £29,000.

Play of Light

In the fourth collection, Boodles designers concentrated on colour and how the same colour can have many different tones. Just as a diamond can range from D-Z and fancy colours range from Faint to Fancy Deep.

“In our Play of Light collection for example we used different gradients of the same colour diamond or gemstone to reflect the detailed dabs of colours found in the paintings. We used yellow diamonds, which gradually became lighter until they flowed into white diamonds, or soft pastel blues deepening to a darker blue.”

Four main pictures were the base for inspiration: Seurat’s The Morning Walk, Monet’s Water-Lilies, Pierre-August Renoir’s Moulin Huet Bay, Guernsey, and Akseli Gallen-Kallela’s Lake Keitele.

The Play of Light Rose Gold Drop Earrings use a variety of gems, including vari-coloured sapphires, tsavorite garnets (green), vari-cut diamonds and rose gold for added softness and extra shimmer. They retail for £23,500 and are accompanied by a necklace and a bracelet, each retailing at £28,000 and £76,500

The piece in this collection I was lucky enough to discover was inspired Finnish painter Akseli Gallen-Kallela’s Lake Keitele painted in 1905.

“Boodles designers responded to the distinctive zigzag pattern on the water’s surface in Lake Keitele, 1905 by Akseli Gallen-Kallela, now mirrored by rows of marquise cut diamonds.”

In each of the pieces, the reflection of the water is represented with the use of graduated brilliant and marquise-cut diamonds, each serving as a mirror of light, with more or less fire depending on the light. Just as in the painting by Akseli Gallen-Kallela there are white and blue tones but also specs of red and green and yellow. It is the special always varying shimmer of the stones, that make this collection so unique.

The earrings use 2.79cts of marquise-cut diamonds and 1.44cts of round brilliant-cut diamonds. The necklace uses respectively 3.05cts and 0.86cts and the bangle is set with 22 principal marquise-cut diamonds weighing 6.99cts, and 4.59cts of brilliant-cut diamonds. The water’s movement is here “mirrored by rows of marquise cut diamonds to create a mesmerising piece.”

It was also mentioned that the design reminded someone of a DNA chain. Whether you take your inspiration from impressionism art or science, if the result is as beautiful as this collection is then there truly is no limit!

To book your jewellery valuation call us on 01883 722736 or email [email protected]

Celebrating breast cancer awareness with pink ribbon jewellery

Posted on October 4, 2024November 25, 2024 by Aurélia Turrall

As we come to October, I wanted to focus on pink ribbon jewellery to celebrate breast cancer awareness month which runs from 1st – 31st October.

One particular jeweller has created pieces with the aim to wear beautiful, original jewellery with a strong message. David Yurman. This New York jeweller partnered with the Breast Cancer Research Foundation in 2008 and the total of his sale contribution, possible with the sale of such jewels, surpasses the $2.5 million, which equates to over 55,000 hours of funded research.

His collection “Cable Collectibles” ranges from $20 to $1,450. The $20 bracelet is made of pink rubber with a reeded design.

The jeweller has promised on his website that 100% of the net profits from every pink rubber bracelet sold during the month of October will go to BCRF, and David Yurman will also donate $16 of the $20 purchase price from every pink rubber bracelet sold through July 31, 2025.

At the other end of the collection is the Cable Collectibles® Ribbon Chain Bracelet, mounted in rose gold, the chain with lobster clasp, decorated with a reeded bow, pavé-set with 0.09ct of circular-cut pink sapphires. It retails for $1,450.

The matching design is also available as a necklace

Though these sapphires are most likely treated to enhance the colour and perhaps durability, it does not take away from the valuable message and David Yurman’s extraordinary commitment.

Other items of the collection include a pin, and bracelet and necklace mounted in silver, which therefore means are less costly but still set with pink sapphires.

Whilst not many jewellers, if any other than David Yurman, create lines of jewellery with the pink ribbon motif, pink is nonetheless available in a wide range of collections sold by the top brands.

De Beers, for example, sells its Enchanted Lotus pendant in rose gold, diamond and pink enamel for £2,575. It is set with 0.21ct of diamonds, the reverse being almost as pretty as the front.

But if the purse can stretch… quite a bit, a De Beers ring set with a 0.44ct Vivid pink diamond ring within a surround of pink diamonds is also available, for just under £100,000.

If £100,000 is simply not in the budget, then why not choose a pink sapphire ring instead? Tiffany & Co. currently sell a pink sapphire and silver bracelet for £350!

Color by the Yard by Elsa Peretti for Tiffany & Co.

The sapphire weighs 0.08ct and just as with David Yurman’s gems, have most likely has some enhancement. But for that price… Does it matter?

What matters is showing support, in any way shape or form, whether it’s holding a Macmillan coffee morning on the 27th September, or wearing pink rubber bracelets, sapphires, diamonds or enamel, the choice is endless and all are rewarded one way or another.

To find out more about our valuation services, visit www.doerrvaluations.co.uk or call us on 01883 722736.

World’s Second Largest Gem-Quality Diamond Unearthed in Historic Find

Posted on September 26, 2024November 25, 2024 by Liz Bailey

What will happen to the stone that has dominated international headlines for the last month?

The discovery of a 2,492 carat diamond from the Karowe Mine, Botswana in August of 2024 will come as news to very few. This incredible discovery was publicised across every major international news channel following the announcement from Canadian owned corporation Lucara on 21^st August.

Images of the rough diamond filling the palm of a hand, positioned alongside a diminutive golf ball for size reference, as well as videos of the stone being inspected and admired by Botswana’s president Mokgweetsi Masisi have filled news feeds worldwide. Rightly so, this incredible find is the largest gem-quality diamond uncovered since the discovery of the 3,106 carat Cullinan diamond from the Premier No. 2 Mine in Cullinan, South Africa in 1905.

The Cullinan Diamond – a Precedent?

When the largest ever diamond was unearthed nearly 100 years ago, South Africa was still a British colony. The Cullinan was offered for sale in London in 1905 and failed to sell initially. It was purchased in 1907 by the Transvaal Colony government and was subsequently presented as a gift to King Edward VII by Prime Minister Louis Botha.

The 3,106 carat rough stone was sent to Amsterdam to be cut by Joseph Asscher & Co (famed for creating the Asscher cut in 1902). It purportedly took Joseph Asscher four days to prepare the stone to cleave, and eight months to polish the original rough stone into nine large principal stones and ninety-seven small brilliant cuts.

Clockwise from top left: II, I, III, IX, VII, V, IV, VI, VIII.

The yield of the nine largest stones are detailed in size order and the entirety of the collection is housed within the collection of the Crown Jewels as follows:

Cullinan I – otherwise known as the Star of Africa –530.20 carat pear-cut stone. Set in the Sovereign’s Royal Sceptre.

Cullinan II – 317.40 carat cushion-cut stone. Set into the band of the Imperial State Crown.

Cullinan III – 94.40 carat pear-cut stone. Set into Queen Mary’s Crown.

Cullinan IV – 63.60 carat cushion-cut stone. Set into Queen Mary’s Crown.

Cullinan V – 18.80 carat pear-triangular cut stone. Set into Queen Mary’s Crown.

Cullinan VI – 11.50 carat marquise-cut stone. Set into a diamond and emerald necklace, Crown Jewels.

Cullinan VII – 8.80 carat marquise-cut stone. Set into a brooch alongside the Cullinan XIII, Crown Jewels.

Cullinan VIII – 6.80 carat oblong-cut stone. Set into Queen Mary’s Delhi Durbar parure.

Cullinan IX – 4.39 carat pear-cut stone. Set into the Cullinan IX ring, Crown Jewels.

A fair comparison? The Lucara Diamond vs. the Cullinan Diamond

As of January 2024, the Cullinan I diamond alone was purportedly valued at $430 million. However, there are notable differences in these discoveries aside from their size, and the context in which they were unearthed.

Location and Diamond Type: The Lucara Diamond hails from Botswana – featured in Lucara’s press release is a reference to Type IIa diamonds from this source. Type IIa diamonds are incredibly rare, with no measurable impurities such as nitrogen or boron. This lack of impurities results in an exceptional colour and clarity that has long been prized and intrinsically far more valuable than other colourless diamond types. Similarly, the Cullinan diamond was mined from a source known to yield Type IIa diamonds. In both cases, there is no confirmation of diamond type, merely speculation at this stage.

Cutting Techniques – Brilliantly recorded in Matthew Hart’s Diamond: A Journey to the Heart of an Obsession (2002), Joseph Asscher hand polished and faceted the Cullinan diamond, purporting “that when he prepared to cleave the largest diamond ever known … he had a doctor and nurse standing by and when he finally struck the diamond … he fainted dead away”. Advances in technology since the Cullinan’s time have ensured a CAD mapping of possible diamond cuts, and precision laser cutting that remove any chance of human error and also maximise the yield from a crystal.

Different times – It goes without saying that politics and customs are incredibly different nowadays, it is highly likely the diamond will be offered for sale and not be presented to a monarchy! Potential buyers of the stone include the LVMH group, who purchased a 1,758 carat stone from Lucara in 2019 for an undisclosed sum, or Laurence Graff of Graff Diamonds, who purchased the ‘Lesedi La Rona’ 1,109 carat stone from the same mine in 2017 for $53 million.

A contemporary comparison – the Graff ‘Lesedi La Rona’

Above: Laurence Graff inspecting the 1,109 carat Lesedi La Rona

Discovered in November 2015 at the same location as the 2,942 carat diamond in question, the ‘Lesedi La Rona’ weighed 1,109 carats and was named “Our Light” in the Tswana language. At the time, this remarkable find was also the world’s second largest gem-quality diamond to ever have been discovered. Similarly to the Cullinan, the Lesedi La Rona was initially offered for sale at Sothebys in 2016, failing to sell with a reserve of $70 million.

Nevertheless, the Lesedi La Rona piqued the interest of Laurence Graff of the prestigious eponymous Graff diamonds and was purchased in 2017 for $53 million. Speaking of his purchase, Graff said “This was the first time in over 100 years that the chance to cut such a historic stone had presented itself, which was tremendously exciting,..We had an immense duty to cut the very, very best diamond imaginable from the Lesedi La Rona. We had to do justice to its impeccable natural beauty.”

The planning for cutting the Lesedi La Rona was meticulous. The diamond was so large that the team at Graff could not analyse the stone with their existing equipment. A new scanner was built specifically for this stone with custom software to cater for its size and scale. After months of analysis, the plan for cutting and polishing the diamond was agreed, and the cutting of the stone could begin.

It took two years to cut the Lesedi La Rona. The diamond was cut with state-of-the-art lasers and required hundreds of hours for the table facet of the principal stone alone. Polished by Graff’s team, the Lesedi La Rona finally yielded 67 diamonds, including a double record-breaking 302.37 carat square emerald cut – the world’s largest square emerald cut diamond.

This principal diamond was named the Lesedi La Rona, and also holds the world’s record as the largest diamond with the highest colour and clarity ever certified by the GIA, with D colour, and “high clarity.” This stone was unveiled in November 2019, and is still owned by Laurence Graff

The Lesedi La Rona’s sister stone is also a record-breaking diamond. Named ‘The Infinity Diamond’ this stone is a 157.80 carat D colour heart-shaped diamond. It’s the world’s largest heart-shaped diamond of this quality.

Set into Graff’s Twombly tiara, the Infinity Diamond is still in the possession of Graff. The remaining 65 diamonds were offered for sale to Graff’s clientele in 2019, and prices for these pieces have not been published. Ranging from 1 to 26 carats, these stones all bear a GIA report number and ‘Lesedi La Rona’ laser inscription to the girdle.

The fate and value of the 2,942 carat Lucara diamond remains unclear. Speculations in the Financial Times have reported that the stone could be worth upwards of $40 million in today’s market. Who will be the buyer of the stone? And what record breaking and yield maximising configuration of faceted diamonds will be revealed? Perhaps the largest ever pear cut diamond (this would have to beat ‘The Rock’ at 228.31 carats – selling at Christies in 2019 for £17.7 million) or perhaps it will supersede the world records already set by the Lesedi La Rona, with a 303 carat + square emerald cut, or a 158 carat + heart cut. No further information has been released at this time, so we will wait to see the impressive yield that this crystal will produce!

Jewels from the ‘Earl of Abergavenny’ Shipwreck Spark New Fascination

Posted on September 18, 2024November 25, 2024 by Liz Bailey

The infamous Earl of Abergavenny cargo ship sunk in 1805 off the coast of Weymouth with William Wordsworth’s brother John Wordsworth as the captain of the vessel. Known as one of the UK’s most horrific maritime disasters, the wreck involved the loss of 250 lives. Reaching the headlines 219 years later, the wreckage has now been granted protected status as of 14^th August 2024.

The ship’s cargo, estimated at around £70,000 at the time, is said to be worth £7.5 million today. The Earl of Abergavenny was transporting over 60 chests of silver bullion as well as countless artefacts that were excavated in 1980 and now housed in the Portland Museum, Dorset. One such find was a single gold cufflink, bearing the initials J.W., and so widely assumed to be the possession of Captain John Wordsworth.

Titanic Relics – Waltham Pocket Watch Sets Auction Record

Captain John Wordsworth’s cufflink is not the only shipwrecked jewel to hit the headlines this year. In April, a gold pocket watch worn and recovered from Titanic passenger John Jacob Astor broke auction records with a hammer price of £900,000 at Henry Aldridge & Son. This auction result marks the highest price achieved for any single artefact recovered from the Titanic.

Waltham Pocket Watch — The 14ct gold Waltham pocket watch originally owned by John Jacob Astor. Sold in April 2024 for £1.1 million inclusive of fees. For reference, unassociated 14ct Waltham pocket watches are available to buy from £1,300-£6,500 on Chrono24.

The General Abbatucci ArtefactsThe staggering uplift in value for these remarkable survivors of unthinkable disasters is ever increasing. Historic Shipwreck sales include Christie’s 2009 sale of ‘The General Abbatucci Cargo’ which saw a sale total of over £280,000.

The General Abbatucci sank on 7 May 1869, sailing from Marseilles, France, to Civitavecchia in Italy. Believed to be carrying cargo destined for The Vatican, the wreck was found nearly 127 years later and much of the cargo sold through Christie’s South Kensington in a 270 lot sale featuring bullion, chains, watch cases and jewellery, mainly presented in group lots.

In the last couple of years, pieces from this remarkable 2009 sale have resurfaced, accompanied by their provenance and certificate of authenticity. Below is a fine Victorian watch chain, available to purchase from Bentley & Skinner for £7,750.

A Victorian gold watch chain from the General Abbatucci Shipwreck. Bentley & Skinner £7,750.

Two further lots to re-appear at auction in the last couple of years featured at Woolley & Wallis sales. These lots were catalogued together with their original lot numbers from the 2009 Christie’s sale, and can demonstrate a rise in value, even from an auction standpoint.

A mid-19th century gold cruciform pendant, set with a cushion-shaped diamond, the cross decorated with layered and textured gold ivy leaves, 2.9cm wide. Sold for £551. Previously part of a group lot 28 in The Abbatucci Cargo Sale 7th October 1997, selling for £748 (both figures inclusive of fees).

A mid-19th century gold necklace, of tubular construction, entwined in coiled wire, in yellow gold, 41cm long. Sold for £2,624. Previously lot 180 in The Abbatucci Cargo Sale 7th October 1997, selling for £863 (both figures inclusive of fees).

With the clear uplift in value and an enduring, timeless fascination with these surviving relics both in the auction and retail worlds, it will be highly interesting to see the long-term trajectory for these pieces. With such tales remaining at the forefront of the news this year, values and desirability of these rare historic pieces are set to rise even further, particularly for those items with clear provenance and traceability to historic sales such as the Abbatucci Cargo Sale. For an up-to-date auction valuation of your own treasures, do get in contact with our nationwide team of specialists.

To find out more about our jewellery valuation services, call us on 01883 722736 or read more here.

Think Pink – The allure and rarity of pink diamonds

Posted on September 3, 2024November 15, 2024 by Aurélia Turrall

I had the privilege of getting my hands on a pink diamond, though a very brief encounter, it was certainly an enjoyable one. Having valued jewellery for almost fifteen years now, the opportunity to observe and inspect pink diamonds is still a rare occasion. Let alone a pink diamond from the Argyle mine in Australia.

Since their discovery in the early 17th century in India, pink diamonds have also been mined in Brazil, South Africa, Tanzania, Canada, Australia and Russia. It is believed that around 80% of the world’s pink diamonds now originate from the Argyle mine in Kimberley, Western Australia, which sadly closed in 2020. From the mine’s 20 million carat annual output, only 0.1% are classified as pink diamonds. In 2018, the GIA selected a sample of 1,000 pink diamonds graded between 2008 and 2016 and found that 83% weighed less than one carat.

Why are pink diamonds so special?

Unlike blue or yellow diamonds, who get their colour from trace elements such as boron or nitrogen, pink diamonds are pink due to crystal distortion. When nitrogen is contained in a pink diamond, it is generally concentrated along the glide planes of the diamonds.

Other aspects of deformation are involved to create the colour pink and is often the cause for high colour saturation making these diamonds the most expensive diamonds to be sold at auction.

In 1999, De Beers found a 132.5 carat rough diamond, which took two years to cut and polish. This resulted in a 59.60 carat Internally Flawless Fancy Vivid Pink diamond, the largest the Gemological Institute of America (GIA) has ever graded with the highest colour and clarity grades from the GIA for pink diamonds.

The Pink Star was sold in Hong Kong in 2017 for HK$553 million, £56 million. That’s almost £1 million per carat.

As with other coloured diamonds, pink diamonds are graded on their colour by the GIA using the classing: Faint, Very Light, Light, Fancy Light, Fancy, Fancy Intense, Fancy Vivid. Similarly, to other coloured diamonds, Fancy Vivid is the most sought-after colour. In a GIA study conducted in 2022, it was determined that only 2% of pink Type IIa diamonds were graded as Fancy Vivid Pink.

Similar in hue to the Fancy Vivid Purplish Pink diamond I had the pleasure of handling is the spectacular ‘The Spirit of the Rose’. The diamond got its name from Vaslav Nijinky’s legendary ballet, Le Spectre de la rose. The 14.83 carat Fancy Vivid Purple-Pink, Internally Flawless, Type IIa diamond was mined and cut from a 27.85-carat clear pink rough diamond, Russia’s largest pink crystal ever mined and was known as the ‘Nijinksy’.

When one understands all these factors impacting the rarity of such coloured diamonds, it becomes more comprehensible to attribute price tags for such exceptional stones. Nature overwhelms us with its beauty, and sometimes we are lucky enough to spend time observing it.

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The rise of the ‘Divorce ring’

Posted on August 23, 2024August 29, 2024 by Liz Bailey

A new phenomenon?

A huge jewellery trend of 2024 has been the rise of the ‘divorce rings,’ propelled into the spotlight by none other than supermodel Emily Ratajkowski. Following her divorce from Sebastian Bear-McClard in 2022, she revealed that she had remodelled her ‘toi et moi’ diamond engagement ring into two separate rings via an Instagram post in March of 2024. The images of these two rings were simply captioned “divorce rings,” signalling and representing a transformation in her jewellery to coincide with the transformation taking place in her life. She explained to Vogue, “The rings represent my own personal evolution… I don’t think a woman should be stripped of her diamonds just because she’s losing a man.”

From the original engagement ring, set with pear cut and princess cut diamonds, Emily commissioned designer Alison Lou to create two separate pieces. Firstly, a single stone ring in a yellow gold setting for the pear to be worn on the little finger, and secondly a three stone ring from the princess cut, with additional trapezoid cut diamonds either side in a bi-colour setting. From one original engagement ring, these two complementary dress rings mark a transformational and empowering moment in her life, as she explained to Vogue “Somehow, these rings feel like a reminder that I can make myself happy in ways I never imagined.”

Although a seemingly fresh and somewhat viral idea of 2024 thanks to Emrata’s Instagram post, the repurposing of sentimental jewellery is nothing new. Throughout the early 20th century, wedding bands themselves were altered by jewellers both in America and the United Kingdom to signify a divorce.

It was Chicago-born Mrs Marina Parke who purportedly invented the notion of the ‘divorce ring’ in 1911, when she had her wedding ring from her husband Fred sized down to wear on the little finger of her right hand – she has been quoted to say that as a result “new acquaintances no longer enquire about your husband, and old friends who have not yet heard of the divorce, perceiving the ring, are saved from embarrassing themselves and you by asking awkward questions”.

In the UK, women were recorded as having their wedding bands altered variously – with zigzags cut through, resizing and worn on the little finger. Designs specifically for the little finger followed, including black enamel sections added to former wedding rings, the addition of a broken Cupid’s bow, or simply the word ‘FREE’ inscribed to the inside of the band. Moving into the 1930s, the divorce ring was “quite glamorous, shaped as a circle of diamonds or pearls, interrupted by a coloured gemstone. The breaking of the circle symbolised the severed marriage union.” (The Times).

The act of repurposing and re-wearing sentimental jewellery in this way does certainly add a degree of autonomy and transformation to a piece. There are of course instances in which remodelling jewellery can decrease value – especially when removed from a designer’s setting, altering an antique jewel, or when the heat of the jeweller’s torch poses far too much of a risk to the gem material encased within. In any case, it is highly recommended to seek advice from a specialist, and of course up-to-date valuations for any items to guarantee sufficient cover for your jewellery both before and after any alterations are made.

Jewellery Pick of the week – Castellani Micromosaic Brooch

Posted on August 7, 2024November 11, 2024 by Aurélia Turrall

This week’s pick is an extraordinary micromosaic brooch by Castellani I had the delight of discovering in an inherited collection. Much to our surprise, amongst the treasured and loved jewellery was an original box containing this perfectly well kept brooch. The brooch is circular and set throughout with blue and red micromosaic, in closed-back setting, only 3cm in diameter.

A red and blue micromosaic brooch by Castellani

So why is it so special?

Firstly due to its age. Dating from the 1860s, it is extremely rare to not miss at least one tesserae in a micromosaic piece, let alone one that has been around for 170 years.

The above brooch was sold at Christie’s in 2011 for Euro 31,040, against an estimate of Euro 8,000-12,000, and had a missing tile.

No dents are present in the item’s soft gold, which is another key aspect of its uniqueness.

And it is also signed on the back with a double C (no Chanel was not the first one to use a double C as a maker’s mark!).

Castellani’s founder, Fortunato Pio Castellani, opened up shop in Rome in 1814 and is commonly described as launching the archaeological revival movement in jewellery. This passion came a few years after opening his shop, hearing his friend Michaelango Caetani speak about recreating gold to look ancient. With the opening of the Etruscan Regolini- Galassi tombs in 1836, Castellani was granted access to view the jewellery. With further fascination for archaeological finds, Castellani’s jewellery became more and more popular.

Using various exquisite techniques, such as wiring and granulation, Castellani was able to imitate ancient jewellery. The week’s brooch has a ropetwist border, adding to it a sense of completion.

So what’s the price tag on such a rare piece?

At auction, the item would be valued at £1,500-2,500. A similar example sold for £2,375 including premium in 2018 at Bonhams. It was orange on a blue background.

A orange and blue micromosaic brooch by Castellani

Another piece is currently for sale privately for over £18,000. This brooch is blue and green.

A green and blue micromosaic brooch by Castellani

And though I was able to find two almost identical pieces for sale, over a decade separates their sale date. Which goes to show how rare brooches of this style and make are. If you find one… Grab it and keep the box!