Category Archives: News

Watches Review 2022

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Well, what a year it has been in the watch world – from the Patek Phillipe Nautilus almost becoming a quarter of a million-pound stainless steel watch…. to thousands of people all around the planet fighting for a £200 Swatch, there couldn’t have been more ups and downs, even if you were writing from Downing Street.

2022 started as 2021 finished, with soaring prices for the most unavailable watches on the market; the Nautilus, Hulk, Royal Oak, Daytona, Aquanaut and many others, all trading at, so far, above their recommended retail price, that it almost became laughable. The secondary market was booming and I, personally was giving valuations on some watches on a monthly basis, due to the fluctuations we were experiencing at the time.

When the market changed, in April/May of 2022 we knew that prices were going to drop – and to be honest, I anticipated a heavier drop than we saw, with some in demand watches still trading at three times their original price in December. Hopefully collectors who bought in the last 2 years are still looking at long term investment pieces.

The Omega Speedmaster has long been regarded as one of the ‘go to’ pieces to have in any major watch arsenal. Its rugged good looks, sensible size, and moon landing history have given it more than half a century of desirability, and last year it was even more desirable than ever – but not in a way that die-hard mechanical watch fans would have anticipated….

The ‘Moonswatch’ was released in 2022, with possibly the biggest marketing push that anyone has seen for a watch, blending the aesthetics of a traditional Omega Moonwatch, and the inexpensive practicality and sense of fun that Swatch have done peerlessly for many decades. The result caused uproar around the planet with near riots in London and Paris, and police being called to many other cities. The most desirable watch on the market for the year was actually a £220 plastic quartz watch, and with nowhere near enough examples, the secondary market went wild with certain examples reaching 10 times their retail value, with people camping out to buy one and then unashamedly selling them the next day on internet auction sites.

Thankfully, this market has calmed a little, with Swatch assuring potential customers that this is not a limited release and eventually there will be enough to go around. But as I write this in January 2023, it is still very difficult to get hold of an example, with some models virtually impossible.

We saw new releases from many of the major house, with Rolex continuing their theme of fancy dials and variations on classic models, such as a left handed version of the GMT Master II. Due to its green and black ceramic bezel, playfully nicknamed ‘Spirte’ or ‘Destro’, caused quite the stir when it was dropped, somewhat trading at over twice its original retail price, from £22,000 to even £30,000, its been one of last years unexpected stars – but if it has Rolex on the dial, it can never be that unexpected.

After the 5711 Nautilus was discontinued the options available to Patek Phillipe were probably immense – how could they change what has become one of the most desirable watches of the current era, if not any era? Well, they were bold! The 5811 is now 1mm bigger than the watch it replaces. I suppose the question is why would you change a winning formula and this proves that.

So, what does 2023 have instore for us?

I believe that whilst all the major brands are going to continue releasing ground-breaking watches with possibly a major offensive of movements, I think that some older watches are going to begin to fall into the modern vintage category and such classics as the much overlooked 16710 GMT Master from 1989-2007, becoming more desirable and prices increasing. There will undoubtedly be some surprises – look out for changes in the Daytona line, as this has been mooted for quite a while now.

Will prices rise or fall?

This is always going to be the question that everyone asks me, and as a valuer, it would be unprofessional to speculate. Whilst 2022 saw prices drop, they were still at the same kind of level they were 12 months ago, so that brings a distinct amount of confidence in watches as a commodity. The demand is still there and will continue to grow as people become more interested – needless to say 12 months is a long time in the watch industry!

Robert Herrick: Poems of Christmas

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The poem ‘To Daffadills’ beginning ‘Faire Daffadills, we weep to see/You haste away so soon’ graces many an anthology. It is often mistakenly thought of as by Wordsworth. But the author was Robert Herrick, a 17th-century country vicar who made a speciality of lyric verse in short lines. Although Herrick’s life was a quiet one, yielding few facts, his work displays an appealing hedonism and deep preoccupation with the fleeting nature of time. He penned the famous lines: ‘Gather ye Rose-buds while ye may/Old Time is still a flying’ which open the poem ‘To the Virgins, to make much of Time’.

Hesperides: or The Works both Humane and Divine of Thomas Herrick, printed in London for John Williams and Francis Eglesfield, in 1648, contained the poet’s collected verse. As the ‘humane’ poems occupy 398 pages of the octavo volume, compared to just 79 pages for the divine, one can deduce that sacred subjects were not his favourite. Hesperides remained an under appreciated book for two centuries, though Anthony Wood recorded that the volume made Herrick ‘much admired in the time … especially by the generous and boon loyalists’ (Wood, Athenae Oxonienses, 1721, II, pp. 122-123). It is a rare book today. Sotheby’s sold the Stockhausen copy for $35,000 in 2015, and the Huth copy for £15,000 in the same year.

One subject that seems to bridge the secular and religious divide in Hesperides is Christmas. Herrick’s Christmas poems include two splendid carols, sung before James I at Whitehall and set to music by Henry Lawes, as well as ‘An Ode of the Birth of Our Saviour’. In the latter, the poet is deeply shocked that the ‘pretty Baby’ and ‘Kingly Stranger’ should have his birthplace in a ‘base Out-stable’, preferring him to possess a cradle of ‘interwoven osiers fragrant posies/Of daffodils and roses’. This is the country cradle of rushes deployed in nativity scenes such as Georges de la Tour’s Adoration of the Shepherds. ‘As Gospel tells’ the actual cradle ‘Was nothing else,/But here a homely manger’. But the poet promises to totally transform the conditions spoken of in the Gospel. The baby’s rough clothing will be exchanged for silks sewn with ‘precious jewels’ and ‘lily-work’, the manger will be turned into a chamber of ivory and amber:

But we with silks, not crewels,
With sundry precious jewels,
And lily-work will dress thee;
And as we disposses[s] thee
Of clouts, we’ll make a chamber,
Sweet babe, for Thee, of ivory,
And plaister’d round with amber.

The allusions to silks, jewels and other precious commodities would have been made from a standpoint of knowledge as Herrick was born into a family of goldsmiths in 1591, the seventh child of Julia Stone and Nicholas Herrick. He was named after an uncle, Robert Herrick (or Heyrick), Member of Parliament for Leicester. Tragedy struck when, the year after his birth, his father died in a possible case of suicide (he fell from an upper window of his house in Cheapside two days after making his will). Fortunately, his uncle provided for him.

In 1607 Herrick was apprenticed to another uncle, Sir William Herrick, a goldsmith with close ties to James I. He got through six years of the ten year apprenticeship, then sought a different future in law. At the comparatively advanced age of 22, he matriculated at St. John’s College, Cambridge. Surviving letters to Sir William indicate that his nephew’s finances could barely cope with a year’s carousing at St. John’s, and he moved to Trinity Hall where he spent three more years reading law, graduating in 1617.

For reasons we don’t know Herrick never became a practising lawyer. In the twelve years between his graduation from Cambridge in 1617, and his appointment as vicar of Dean Prior ‘tantalisingly little’ is known for certain about his life (see poetryfoundation.org). It is widely accepted that he spent much of his time in London. Writing in the mid- 19th century, Henry Vizetelly described him as being ‘in familiar intercourse with the chief wits, and writers of the age. Herrick had for his early intimates Ben Jonson, [John] Selden, William Lawes the eminent composer, and Endymion Porter, groom of the chamber to the King, besides many others of equal note’ (Christmas with the Poets, London, David Bogue, 1851).

The teacher/pupil relationship with Ben Jonson (1572-1637) was real enough for Herrick to address five poems to him, including an epitaph. The first verse of ‘His Prayer to Ben. Jonson’ pays due homage to the great classicist, as a playwright ranked second only to Shakespeare:

When I a Verse shall make,
Know I have praid thee,
For old Religions sake,
Saint Ben to aide me.

Endymion Porter (1587-1649) was a diplomat and patron of the arts, fiercely loyal to Charles I, who also wrote verses. Both he and his wife, Olivia, niece to the Duke of Buckingham, were painted by van Dyck. While Herrick himself never married, he was preoccupied with women as a subject, writing about Julia and other ‘mistresses’ in as many as 158 poems. It is possible that none of the women he so admired in verse existed as real people.

It may have been owing to the influence of Endymion Porter that Herrick briefly obtained the position of assistant chaplain to the Duke of Buckingham, playing his part in the catastrophic expedition to free the French Huguenots on the Ile de Ré in 1627. But that was the beginning and end of his military career. He was appointed to the living of Dean Prior in South Devon in 1629, a post he took up in 1630, perhaps with the conscious aim of having more time and opportunity for his poetry.

Dean Prior in the 17th century must be regarded as extremely remote and therefore ideal for a hermit like Herrick. The nearest towns, Exeter and Plymouth, were almost a day’s ride away. London was a five-day trek. Though the vicarage next to the church was by no means ostentatious, the poet-clergyman never agitated for change and lived in Dean Prior for a total of 31 years, the period split into two by the civil war.

Whereas Herrick was a royalist and traditional Anglican, and is often grouped among 17th-century ‘cavalier poets’, the population of the west country was strongly sympathetic to the Puritan cause. The Civil War which began in 1642 made his position precarious; in 1647 he was among 142 Devonshire clergymen expelled from their parishes because of their loyalty to the King. He went to live in Westminster, where he could be supported by his family and friends. His first period as vicar had lasted for 17 years. On his return to Devon at the Restoration of 1660, he served for 14 years more, ending with his death in 1674. While the 14th-century parish church of St. George the Martyr still stands, his gravestone has disappeared, exactly as he predicted it would.

Herrick would certainly have missed old friends on his return to the capital. Ben Jonson had died ten years earlier, William Lawes had been killed at the siege of Chester, Endymion Porter had fled abroad, returning to England only to die in poverty in 1649. ‘Selden alone survived in the enjoyment of a green old age’ (Vizetelly). New literary friendships were forged with Charles Cotton, translator of Montaigne and contributor to The Compleat Angler, and Sir John Denham, the bard of Cooper’s Hill. Herrick also had his octavo volume of poetry, largely written in Devon, to think about for the press. Being close to the printers must have been a stimulus despite the existence of this biblical quatrain preceding the errata:

For these transgressions which thou
here dost see
Condemne the Printer, Reader,
and not me;
Who gave him forth good Grain,
though he mistook
The Seed; so sowed these
Tares throughout my Book.

Herrick revised his work, carefully considered what order to place the poems in, and even went to the trouble of versifying the table of contents. The religious poems have an independent title, His Noble Numbers, and separate pagination; dated 1647, the year of his return from Dean Prior, they may originally have been intended for separate publication

Hesperides contains some 1400 lyrics in all, of which there are sixteen or so Christmas poems. While this is only a fraction of the content, it is hard to think of any other poet who has taken such pains to record the festivities. We are used to thinking of indulgent Christmases as a Victorian invention. Reading Herrick’s accounts of wassailing and other Christmas ‘ceremonials’ will show this to be a misconception. For Christmas traditions in 17th-century Devon are time honoured and have no identifiable beginning.

As opposed to being treated as a single day in modern fashion, Christmas drinking and feasting lasts for a whole season, coming to another climax on Twelfth Night, and even extending up to Candlemas Eve on 1st February. There is little if any mention of young children. It is maidens and young men who are at the centre of Herrick’s Christmas, and happy carousing, happy eating of plum pies and pastries, are the order of the day.

‘Ceremonies for Christmas’ is primarily about the lighting of the Christmas log. The speaker demands that it be brought into the room, accompanied by a suitable uproar of noise from the ‘merry boys’. Thanks to ‘my good dame’, a generous hostess, drinking opportunities are unlimited:

Come, bring with a noise, My merry, merry boys, The Christmas log to the firing; While my good dame, she Bids ye all be free And drink to your heart’s desiring.

The speaker next demands that the new block of wood for the Christmas fire be lit with a piece of the old wood, saved from the previous Christmas: ‘With the last year’s brand/Light the new block’. The middle stanza also refers to the ‘psaltries’ (or guitars) that have to be played as the wood kindles, bringing ‘sweet luck’. Once these ceremonies have been performed, the orders are to:

Drink now the strong beer,
Cut the white loaf here;
The while the meat is a-shredding
For the rare mince-pie,
And the plums stand by
To fill the paste that’s a-kneading.

It’s an abrupt end but typically matter of fact in manner. From this poem alone Herrick’s approval of wassailing or drinking to excess is unquestionable. However, his poem ‘Wassail’, written in 3-line stanzas, is ironically so called, for it takes to task the miserly household that refuses to open its doors for Christmas. Nothing is so grievous as the lack of beer. ‘Alas! We bless, but see none here/That brings us either ale or beer;/ In a dry house all things are near’. Neither are there any happy noises in a house ‘Where chimneys do for ever weep/For want of warmth, and stomachs keep,/With noise, the servants’ eyes from sleep’.

‘Twelfth Night or King and Queen’ describes the ‘cake full of plums’ (the ancestor of our Christmas pudding), and the election of the Twelfth Night king and queen by the successful recovery of a bean and pea hidden inside it: ‘Now, now the mirth comes/With the cake full of plums,/Where bean’s the king of the sport here’. Once the election is decided, the invitation is issued to all to ‘…make/Joy-sops with the cake’, and drink to a cup’s limits:

… let not a man then be seen here,
Who unurged will not drink,
To the base from the brink,
A health to the king and queen here.

The reference to ‘lamb’s wool’ in the penultimate stanza becomes less puzzling once ‘… a bowl full/With gentle lamb’s wool’ is recognised as the Devonshire name for a bowl of spiced beer. Herrick even provides a list of ingredients: ‘sugar, nutmeg and ginger,/With store of ale, too’, all necessary ‘to make the wassail a swinger’. Guests are encouraged to wassail the king and queen, and an assurance is given that the drinking is all good natured:

… though with ale ye be wet here,
Yet part ye from hence
As free from offence
As when ye innocent met here.

Herrick’s poems could be very short indeed. Two of the Christmas lyrics consist of only one 4-line stanza. ‘Another to the Maids’ warns the maids in a household against kindling the Christmas fire with ‘unwash’d hands’, the belief being that this will only put the fire out:

Wash your hands, or else the fire
Will not teend to your desire;
Unwash’d hands, ye maidens, know,
Dead the fire, though ye blow.

A second short poem, called simply ‘Another’, forms a companion-piece to the first, advising the maids to wassail the fruit trees in order to improve their fertility:

Wassail the trees, that they may bear
You many a plum and many a pear:
For more or less fruits they will bring,
As you do give them wassailing.

At fifty lines in length ‘A New Year’s Gift sent to Sir Simon Steward’ was one of the more ambitious Christmas poems. It is a composition that can be dated. Sir Simon (1575-1632) had been a student at Trinity Hall living on there for some years after his graduation. Besides combining the roles of a Justice of the Peace, High Sheriff, and MP, he was an occasional poet. Herrick sent him his long string of rhyming couplets in January, 1624, starting that no kind of bad political news would be the subject his letter. Instead Sir Simon should expect to find:

… here a jolly
Verse, crown’d with ivy and with holly,
That tells the winter’s tales and mirth,
That milkmaids make about the hearth,

In the mid stage of the poem various ‘Christmas sports’ and customs are affectionately named or mentioned, not least the choosing of the Twelfth Night king and queen. Sir Simon and his household are urged to read the poem, and ‘Remember us in cups full crown’d’. But the mood is not all joyful; in the final part Herrick touches on his favourite theme of the brevity of time, and insists that thoughts of future Christmases are preferable to ‘fled Decembers’. Better, it is suggested, to drink on until Father Bacchus ‘twirls the house about your ears’, attaching ‘your cares’ to the past year not the future one:

Then as yet sit about your embers,
Call not to mind those fled Decembers,
But think on those that are t’appear
As daughters to the instant year:
Sit crown’d with rosebuds, and carouse
Till Liber Pater twirls the house
About your ears; and lay upon
The year your cares that’s fled and gone.

However, the last piece of advice is light hearted. It is to enjoy the Christmas plays, and ‘Frolic the full twelve holidays’.

‘Ceremonies for Candlemas Eve’ is another poem about transience and the need to avoid regret. Who hasn’t taken down the Christmas decorations with a sense of relief and a feeling that it’s time to move on? Herrick captures that feeling, beginning his poem with the call to take down the Christmas greenery on Candlemas Eve (i.e. 1st February). He is happy to see a new plant, ‘the greener box … domineer’ instead. However, the box also has its time limit in the house, holding sway only up to ‘dancing Easter day’. His poem begins:

Down with the rosemary and bays,
Down with the mistletoe;
Instead of holly, now up-raise
The greener box (for show).
The holly hitherto did sway:
Let box now domineer
Until the dancing Easter day,
Or Easter’s eve appear.

As the year progresses, there is a recognisable succession of plants traditionally used for adornment. The ‘youthful box’ renews houses but when ‘Grown old, surrender must his place/Unto the crisped yew’. The yew is followed by the birch ‘And many flowers beside’ which do honour to Whitsuntide. In the final stanza, ‘green rushes’, ‘bents’ (so called because they are flowers which bend or droop?) and ‘cooler oaken boughs’ are considered ‘comely ornaments/To re-adorn the house’. But the poem does not end there.

Herrick adds an extra couplet to remind us that, as greenery goes in and out of favour in the house, so the shifts of time effect change in all things:

Green rushes, then, and sweetest bents,
With cooler oaken boughs
Come in with comely ornaments
To re-adorn the house.
Thus times do shift; each thing
his turn does hold;
New things succeed,
as former things grow old.

Through these varied poems Herrick gives us a remarkably strong picture of what a 17th-century Christmas in Devon was like, something to think about as we are enjoying our Christmas in the early 21stcentury. Anyone interested in reading more of his work should consult the website luminarium.org where his poems are available online.

Meet the jewellery team – Helen & Sammantha

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Profile – Helen Doyle

Jewellery, Handbag and Wristwatch Specialist

Helen has a wealth of knowledge and over 20 years of experience in the industry. From a family of art and antique dealers and auctioneers, she earned her gemmology diploma from The Gemmological Association of Great Britain.

Experience

She joined the jewellery department at Bonham’s Auctioneers before moving on to lead roles at various asset lenders in London and New York. As her career has progressed, she has also become a specialist in valuing designer handbags and watches. She has been lucky enough to value some exceptionally important pieces throughout her career.

Passionate about keeping up to date with market trends, she prides herself on offering an excellent level of customer service and has a remarkable eye for detail.

About

Helen now lives in Cheltenham working as a valuer and running her own business selling antique jewellery and designer handbags. She loves exploring antique fairs and auctions for new stock. In her spare time, she enjoys restringing pearls and taking her cocker spaniel Ruby for walks in the Cotswolds.

Spot-light

Helen’s favourite piece to value was a rare solid silver Hermes Kelly handbag. Helen loves antique Cartier, Van Cleef and pretty Victorian rings.

Covering

  • South West
  • East & West Midlands
  • Wales

Profile – Sammantha Maclachlan

Jewellery & Wristwatch Specialist

Sammantha Maclachlan FGA DGA MJVA MIRV is an independent registered valuer specialising in jewellery and watches. With over 18 years of experience in the luxury jewellery industry, she has gained valuable expertise with brands such as Mikimoto, Rolex and Patek Philippe.

Professional Qualifications

A senior accredited gemologist, Sammantha is a fellow of the Gemmological Association of Great Britain and a holder of the diamond and gemmology diploma. Sammantha prides herself in offering the highest level of customer service in a professional and friendly manner.

  • Fellow of the Gemmological Association of Great Britain (FGA)
  • Diamond diploma from the Gemmological Association of Great Britain (DGA)
  • Member of the National Association of Jewellers Institute of Registered Valuers (MIRV)
  • Member of the Jewellery Valuers Association (MJVA)
  • Applied Jewelry Professional from the Gemological Institute of America (GIA AJP)
  • Professional Jewellers Diploma from the NAJ (PJ Dip)
  • Cultured pearl specialist from Cultured Pearl Association (CPAA)
  • Diamond grader with the International Gemmological Institute Antwerp (IGI)
  • Certificate of Appraisal Theory from NAJ (CAT)

About

In her spare time, Sammantha enjoys photomicrography, which is the art of photographing gemstones and their inclusions under high magnification.

Spot-light

Sammantha’s favourite piece valued is a pair of large pink diamond earrings from the since-closed Argyle Mine in Australia. A true rarity of the jewellery world.

Covering

  • Scotland & Borders

Meet the jewellery team – Francesca & Annabell

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Profile – Francesca Valentini

Jewellery Specialist

Francesca Valentini has had experience in the jewellery world for over 20 years. Having been immersed at a young age at her family jewellery business in London, Francesca chose to train as a jewellery specialist after university.

Experience

In 2006 she joined Bonhams and latterly Christie’s Auction House, both in their jewellery departments in London. She travelled and worked around the UK as well as other parts of the world, namely Italy, Portugal, New York and Geneva.

Memberships

She is a Fellow of the Gemmological Association of Great Britain, having successfully completed her FGA and DGA qualifications and completed a coloured stones course in Basel with The Swiss GemmologicalInstitute, (SSEF).

About

In her spare time Francesca likes to go on holiday! She enjoys cooking for friends, cycling and teaching her children to speak and cook Italian.

Spot-light

Francesca’s favourite piece valued was an incredible gold and enamel necklace, made up of five double-sided medallions, each of fine cloisonne enamel, illustrating various designs of butterflies and birds, including an eagle, a crane and a dragonfly. In researching the piece, she discovered the ‘new age of luxury’ in the second half of the 19th century, a time that saw the popular influence of Japanese art on European styles.

Covering

  • London
  • Greater London
  • East of England
  • South East & South West

Profile – Annabell Parry

Jewellery and Watches Specialist

Annabell has worked with international fine jewellery and watch brands for over 27 years. The daughter of an auctioneer and valuer, it was no surprise when she followed the family into the Jewellery industry after leaving University. Since 1995 she has worked with, amongst others, Boodles, Leo De Vroomen, Rolex, Patek Phillipe and Frank Muller, where her work has revolved around certificated gemstones, high end watches, antique and handmade fine jewellery.

Experience

During those 25 years, she attained internationally recognised industry qualifications and affiliations and is a Registered Valuer with both valuing institutes of the United Kingdom. As an established specialist, she enjoys finding forgotten gems and uncovering their family history.

Memberships

  • MJVA – Founder member of the Jewellery Valuers Association
  • MIRV – Member of the Institute of Registered Valuers
  • Treasurer of the Gemmological Association of Great Britain – North West
  • Independent Consultant Valuer for selected UK jewellers and Auctioneers

Professional Qualifications

  • GA Cert – Gemmology Foundation from Gemmological Association of Great Britain (GEM-A)
  • PJ-Dip – Professional Jewellers’ Diploma from National Association of Jewellers (NAG)
  • CAT – Certificate of Appraisal Theory from National Institute of Registered Valuers (IRV)
  • CPAA – Certified Pearl Specialist with the Cultured Pearl Association of America (Pearls as One)

About

In her spare time, Annabell loves nothing more than taking her Land Rover Defender out, off roading, green laning, and camping.

Spot-light

Annabell’s favourite valued piece was a mourning brooch containing a piece of Benjamin Disraeli’s plaited hair.

Covering

  • East Midlands
  • West Midlands
  • Yorkshire
  • North East & North West

Silver at Christmas

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‘Silver bells, silver bells, It’s Christmas time in the city. Ring-a-ling, hear them ring, soon it will be Christmas day.’

The festive season is upon us once again and however you celebrate it, or even if you don’t, it’s hard to ignore. In the 11 months since your sister-in law trapped the dog’s tail in the car boot as she flounced off at an assumed insult; the same dog snaffled the trifle when no-one was looking, and someone set fire to Santa’s not so authentic beard – somehow, by some strange alchemy, Christmas has regained the familiar, rosy glow of hope and expectation.

Much of this is down to our wonderful Christmas traditions. The tree, the tinsel, the coins in the Christmas pudding, the stockings, the crackers. It’s all steeped in tradition and manages, for most, to be a beacon of light and joy in the middle of the winter.

The tradition of having lit tress in our homes at Christmas is believed to originate with 16th century Protestant reformer Martin Luther. Legend has it, that Luther was walking home one winter evening, formulating his sermon when he was captivated by the brilliance of stars twinkling amidst evergreens. To recreate the scene for his family, he erected a tree in the house and attached lit candles to the branches. Devout Christians followed his example, even using pyramids of twigs if trees were not available.

The tradition of tinsel also dates to the early 17th century in the German town of Nuremberg, which was already known for silver production. Workers started making thin strands of real silver and placed them in their trees to reflect the candlelight.

Incidentally, tinsel gets its name from the old French word ‘estincele’, which means sparkle.

In 1846, Queen Victoria and Prince Albert, were sketched in the Illustrated London News, standing with their children around a Christmas tree. Unlike her immediate forebears, Queen Victoria was popular with her subjects. She dictated style and fashion and when the tree was seen in the magazine the idea was taken up all over the country, and even as far afield as the East coast of America. The Christmas tree soon became part of the fixtures and fitting of Christmas.

Making the Christmas pudding and stirring in a silver sixpence on Stir up Sunday, five weeks before Christmas is part of British Christmas heritage. A silver sixpence was placed into the pudding mix and every member of the household gave it a stir. If you were lucky enough to find the sixpence in your helping of pudding on Christmas Day, you could look forward to a year of wealth and good luck. If this tradition appeals to you the 2022 Christmas Silver sixpence can be purchased from the Royal Mint. This year’s coin is the last to be struck with an image of The Queen. It includes the Royal Cypher surrounded by apple and orange blossom to signify good fortune.

Crackers are another Christmas essential. Tom Smith Ltd holds the Royal warrant as Suppliers of Christmas crackers and wrapping paper and has held this since 1906. Tom Smith himself, had invented the first cracker over 60 years earlier, when, taken with the French habit of wrapping bonbons in a twist of paper. He ran with the idea, and then embellished it, adding in little love notes and latterly a snap made from silver fulminate. If you want the ultimate crackers this year, Asprey’s, have on offer, crackers containing silver cufflinks with one terminal modelled as a F1 car.

Silver ornaments have been part of the festive offering from luxury brands for years. Some companies produce new decorations every year so you can build a collection year on year. Georg Jensen is one such brand. This season’s collection includes a decoration by designer Sanne Lund Traberg, whose snowflake ornament is said to be inspired by childhood memories.

Tiffany also has a range of seasonal silver ornaments. The reindeer ornament is a modest £235 in comparison to the bauble created by Hallmarks Jewellers in 2009. Made in 18 carat white gold and designed as a snowflake with 1,578 diamonds, 188 encrusted rubies and a centre band with three one carat diamonds. It took over 130 hours to make and would have set you back $136,000.

Food and drink are integral to all Christmas festivities. For our non-Christian forebears, the Winter Solstice was also a time to celebrate in the depths of winter and look forward to the year ahead and the return of longer, warmer days. For us it’s a wonderful opportunity to polish the table ware, both flatware (cutlery) and holloware (dishes). Get the meat dish cover ready to protect whatever remnants of turkey remain; fill the wine coolers with ice, put the wine coasters out ready to receive bottles or claret jugs, fill sauce boats with bread sauce, entrée dishes with vegetables, and silver jugs with cream. It’s probably time for the knife rests to make an appearance, and definitely for the stilton scoop to come out of retirement! There’s nothing quite like the combination of silver and glass to give the Christmas table a magical feel.

However you will be celebrating your Christmas, we wish you all a sparkling and happy time.

At Doerr Dallas we are only too aware that in the current economic climate Christmas will be hard for many. In recognition of this , the author of this article is donating her fee to Crisis at Christmas. Should you wish to make a contribution to Crisis, please click here to donate.

Meet the jewellery team – Aurélia & Jenny

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Profile – Aurélia Turrall

Jewellery Specialist

Aurélia has over 20 years’ experience in the auction industry. After graduating from King’s College London with BA Hons, she started her career in Business Development and Client Services at Christie’s and Sotheby’s Paris. She went on to obtain her Graduate Gemmologist degree from the Gemological Institute of America (GIA). Relocating from Paris to London, Aurélia joined the Jewellery department at Bonhams, dealing with client valuations and auction preparations.

Experience

Aurélia has a Bachelor of Arts degree from King’s College London and a Baccalaureate in Economics and Literature. She speaks English, French being her native language, and some Spanish. Aurelia has also had experience of working with specialist lenders Borro and working for SYMEV (French Association of Auctioneers) in Paris where she was Head of Communications.

About

In her spare time, Aurélia writes feature length screenplays and children books. Being able to value clients’ jewellery is what she loves to do and she has been privileged to handle some unique pieces.

Spot-light

Aurélia’s favourite piece valued was an Art Déco pigeon blood ruby and diamond three-stone ring by Cartier.

Covering

  • London, Greater London
  • East of England
  • South West, South East
  • Guernsey & Jersey

Profile – Jenny Knott

Silver & Jewellery Specialist

Jenny has been working in the Silver and Jewellery industry for over 35 years. She is a graduate of Reading University, where she gained a BA Hons in English literature. She joined Bonham’s auctioneers in Knightsbridge as a post-graduate in the silver, jewellery, clocks and watches departments, specialising in silver and jewellery. Jenny soon rose to the position of deputy head of the department.

Experience

Her career has seen her run Bonham’s highly successful Gentlemen’s sales. Jenny worked with the John Lewis Partnership for 25 years, supplying them with antique jewellery for their retail sales. She also enjoyed working with Bloomingdales in the United States for many years, supplying cufflinks and gentlemen’s accessories. Both these roles involved training their staff.

Furthermore, she worked with the Buckingham Palace team and supplied their store, lectured extensively in the UK (including lectures to NAFAS and the National Association of Jewellers) and in the States on her specialist areas. Jenny has also co-curated a cufflink exhibition with The Goldsmiths Company. She is highly experienced in insurance and probate work and continues alongside doing valuations, supplying antiques, particularly wine related items, to the Rothschild Waddesdon Trust and National Trust.

About

Jenny is very sporty and loves the outdoors. In her spare time, you’re likely to find her out and about, walking her dog, playing tennis, cycling, or skiing down a mountain.

Spot-light

Jenny’s favourite things to value are quirky or unusual antique pieces, both silver and jewellery. She also loves wonderful enamel work be it Fabergé, Scandinavian enamel or French guilloché enamelling.

Covering

  • London, Greater London
  • East of England
  • South West, South East
  • Oxfordshire & Warwickshire

Meet the jewellery team – Alastair Meiklejon

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Over the next couple of weeks we will be introducing you to our amazing team…

Profile

Alastair has been involved in the wristwatch and antiques industry for over 20 years as an auctioneer and valuer. He has a particularly broad knowledge with interests and passions to include the following specialities; militaria, watches, automobilia, rock and pop, posters, comic books, and musical instruments.

Over the years watches have become as much pieces of jewellery and a celebration of mechanical art, as well as timepieces, as wristwatches specialist Alastair has had the pleasure of valuing some of the world’s great collections, including Patek Phillipe, Audemars Piguet, Voutilainen, Rolex, and many other great marques’.

Membership

Alastair is a qualified, professional member of the National Association of Valuers and Auctioneers and was elected a Fellow of The Royal Society of Arts in 2017.

About

In his spare time Alastair likes nothing more than enjoying a lovely meal with a nice bottle of red with family and friends. He has, in the past attempted to be a racing driver, however these days he’s happy watching a race from the comfort of his own seat.

Spot-light

Alastair’s favourite part of valuations is hearing the stories behind the item.

Covering

Contact

[email protected]

Is it all about the birkin?

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So recently, I have been constantly asked my opinion on why it is that Hermes bags are the items that are most discussed, and in simple terms, it is because their prices fluctuate the most and the variety of pieces that are created are constantly in more demand than they could possibly ever produce. Therefore, the secondary market dictates that the prices have increased at an exponential rate over the last few years, with bags like the new Birkin Rock (Finally, A Men’s Birkin!), and the Kelly en Desordre being released it has guaranteed that collectors will flock to pretty much anything that they produce and then see prices increased by up to 200% on the grey market.

But what about the other big names, Chanel, Louis Vuitton, Prada, Bottega Veneta…..?

Well, the answer to this question is not so easy…

Let’s start with Louis Vuitton; The Parisian brand has been at the forefront of luxury for over 150 years and in the last couple of decades has been considered to be one of the world’s most valuable luxury brands with not only luggage, but clothing, watches, fragrance and lots of other items in addition.

The monogram bags and purses are probably one of the worlds most instantly recognisable trademarks, and I would bet the vast majority of people would recognise an LV bag, over a Birkin.

Louis Vuitton has many different ranges of products and some standard pieces are a constant, or should I say ‘Classic’. Let’s look at the ‘Speedy 30’ which has been around for a little while, currently retailing at £1,110, it’s a great value little bag, but if we go back a few years…then the price was pretty much half of what it is today, and this has been the story with a lot of monogram pieces.

There is another side to Louis Vuitton. They make some exclusive pieces that one would really struggle to find, and this is where the values start to soar. For example, the Frank Gehry Iconoclast limited edition box – initially retailed around the £2,000 mark, now you will struggle to find one for less than £8,000 – if you can find one at all!

Chanel, of course, is another big player on the handbag market, and what is constantly very apparent is the annual price rise that comes from the luxury French fashion house. Figures of 8% to 10% each year is not uncommon with the most popular quilted bags such as the ‘Classic Small Handbag’ (it’s Chanel, they don’t need fancy names) coming in at over £7,000 in 2022 – this was until recently always considered a £5,000 market bag.

Many of the other brands that dominate the market for handbags, such as Prada, Gucci, and Bottega Veneta will continually release in demand pieces that continue to sell verywell, however, the demand for such items will only ever be at the initial point of sale with the secondary market being nowhere near as lucrative for the resellers, but there will always be the occasional item that goes against the tide and surprises even the experts.

Keeping your valuations up to date is so important as we see values increase in an 18 month period on these handbags….

Fluctuations of the market in the last few years

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As with every market, jewellery prices will inevitably fluctuate, though I can’t say I’ve seen the price of precious stones go down in the last few years. Seen as a commodity by some and as a treasure by others, it’s important to understand the cost of remaking a unique piece of jewellery. It will be dictated by global demand for diamond (or other precious stones), gold, silver, palladium and other alloy metals and stones.

High worldwide demand for palladium – due to its key importance in the development of renewable energy – inevitably increases the cost of gold – based items of jewellery. Because of its softness, gold used in jewellery is mixed with alloys. Alloys are other metals, such as zinc, copper, nickel, iron, cadmium, aluminium, silver, platinum and palladium. This mix then alters its appearance, hardness and melting point. Palladium is a chosen favourite as an alloy metal. At today’s value, the scrap value for palladium is £41/gram compared to £21.50/gram for platinum, which then impacts gold jewellery pieces.

As an example, this 9ct gold gate bracelet with heart locket was estimated £70-£100 by Bonhams in 2005. Today’s estimate would most likely be £200-£300.

Designer pieces with diamonds are affected in a similar manner.

This diamond and gold bracelet by Kutchinsky (above) sold at Bonhams for £1,553 (including premium) in 2005.

A similar item by the same designer (below) sold for £2,550 (including premium) in 2019.

For insurance purpose, the above bracelet would receive a value of £8,000 as at 2022.

Coloured stones have also seen an increase in price.

This emerald and diamond cluster ring is set with an emerald weighing approximately 5.20 carats and approximately 1.15 carats of diamonds. It was previously valued at £42,000 in 2011 for insurance purpose. Eleven years on, it is now valued at £65,000.

One could try to apply generic inflation percentages as a tool to update valuations, however this is incorrect and will often lead to your jewellery being under or overvalued. In the case of the above ring, a formula trying to reflect inflation would be detrimental to the value of the ring.

Valuing jewellery should always be case by case, as some signed vintage pieces will increase over the years, but not at the same rate as precious gemstones for example. The market for an Art Déco Cartier wristwatch (as below), though rare, has a smaller market of potential buyers and sellers. Comparatively to coloured stones, the value for this wristwatch will never exceed a certain plateau. This watch currently retails for £35,000.

A similar wristwatch by Cartier (below) sold at Bonhams in 2017 for £16,250 (including premium) and would have most likely received an insurance value of £23,000.

Diamonds on the other hand continue to escalate at a steady pace.

These diamonds earstuds (above) are 4.01 carats and 4.04 carats respectively. They were valued for insurance purposes at £300,000 in 2012 and are now valued at £360,000.

The same applies to contemporary signed pieces such as the Alhambra collection by Van Cleef & Arpels.

The mother-of-pearl Alhambra necklace by Van Cleef & Arpels was sold for £9,950 less than ten years ago and now retails for £15,800. A steady increase reflecting world demand for durable contemporary and elegant jewellery by a reputable designer.

The jewellery market is not exempt from worldwide affairs and economic changes, but it will always have an added unquantifiable value: emotional value. Jewellery can be seen as an investment, but it still predominantly remains a purchase of pleasure and luxury, whichever gem or metal one chooses and whatever happens in the world.

General contents the invisible problem?

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Every week we see record prices being achieved by some of the greatest artworks known to man, with some of the most glamorous jewellery and watches going to auction at incredible sums, but how often do you talk with your clients about the carpet in the drawing room, or the suite of furniture purchased in the 1990s?

Just this week we have heard more news about inflation and cost of living rising again, and potentially this could increase well into 2023 and beyond.

So how does this effect your mid – high net worth clients and their contents?

The value of items within the ‘General Contents’ section of most customers insurance schedule has been rising for many years, even before COVID–19 and the dreaded lockdowns of 2020.

According to the Office for National Statistics, the values that we are seeing are increasing year on year for general home furniture by around 16% per year so a settee purchased for £10,000 this time last year would now be costing £11,600, with garden furniture increasing by up to 25% per year. So why is this?

The cost of manufacturing has sky-rocketed since 2019, with many companies having issues recruiting staff and/or sourcing materials, in turn the supply chain has suffered with transport issues in abundance – it’s not unusual to see waiting times run in to months for some items.

Two of the items that I am constantly surprised by are curtains and carpets, with some of our clients spending six figure sums on carpeting their homes, and a pair of lavishly lined silk curtains for a 13ft high sash window costing nearly £10,000, however on paper these have only increased by around 5% this year – but, this is only for the material and not the fitters or the makers, so in turn I believe that these figures are increasing by around 24% with that same pair of curtains now costing £12,400.

Whilst statistics are not available for the inflation of electrical goods, this market is different as the advancement in technology means that many items are out of date the minute they are released, there has of course though been a general increase across the board in most items of this nature.

Clothing will continue to be an interesting question with a broad figure of 8.5% inflation across the board, this however will absorb the designer and couture elements alongside the high street fashion world, which does not always give a totally accurate reflection of the mid-high net worth spending habits.

Whilst each manufacturer is different and sometimes these inflation costs will be absorbed into the operating profit of the company, in most instances, and especially in High Net Worth accounts, it is passed on to the client.

When taking an overall look at your clients, by all means be sure to look at the fine art, the jewellery and many other of the ‘visible’ items that clearly will have changed in value, but be sure that you don’t ignore the invisible ones that may well mean your client is underinsured.

Walk-through Valuation – SPECIAL OFFER

The Walk Through Valuation is a beneficial offering for you or your clients if current content values are based on a ‘guestimate’ or a ‘rough idea’ to ensure the values provided are accurate and up to date. For the comfort and security and assurance that in the event of any claim you are covered why wouldn’t you?

You don’t want to find a claim is not paid in the event of a loss, so ensuring your insurer has a true reflection of your values is so important. The Walk Through Valuation is designed for the Mid Net Worth client to establish/categories the contents correctly, on a room by room, category by category basis, itemising items of single value, identifying issues and providing cross room photographs. We don’t value the jewellery but we will discuss/establish if the current cover
is adequate and any other areas of concern which would require a specialist visit.

A Senior valuer will attend the property to complete and the survey takes approximately 3 hours to complete. Our report will be issued within 15-20 working days providing recommended figures and illustrated.

So, to ensure you/your clients values are true and accurate, recommend the need for a Walk Through Appraisal today – up to 4 bedrooms – £525 plus VAT@ 20% including travel.

Call us today on 01883 722736 to book an appointment or email [email protected]