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.

Artist Spotlight: The work of Dame Magdalene Odundo

Posted on September 12, 2024November 25, 2024 by Stephanie Connell

Dame Magdalene Odundo (Kenyan/ British, b. 1950) is arguably one of the most important artists working in Britain today and the definitive contemporary ceramicist of the modern era.

Odundo’s oeuvre typically consist of sculpture in clay and on occasion in glass. These forms simultaneously traditional and modern – equally unpretentious and layered with meaning. Her work is almost timeless – galleries exhibiting her pieces often choosing to display them alongside historical artifacts and objects from societies which she has taken inspiration from.

The creation of her work is a complicated process. The sculptural vessels are predominantly hand-built coiled pots, formed in terracotta, using a traditional technique learned in Nigeria. They are typically decorated in slip, multi-fired and polished. Her work is recognisable by the strength of the form and glazes – usually either almost metallic in burnished brown/ black or orange/ red oxide.

Odundo, has discussed the closeness the shapes of her work take to the human form – and that naming terms for pottery vessels such as ‘neck’ and ‘body’ make pots anthropomorphic – vessels have the exterior on show, whilst the interior is hidden, as individuals do.

In recent years Odundo’s status has been reflected by a significant number of dedicated exhibitions of her work. These exhibitions have included Magdalene Odundo: The Journey of Things held at The Hepworth Wakefield (February 2019 – June 2019) and Sainsbury Centre (August 2019 – December 2019); Magdalene Odundo in Cambridge at the Fitzwilliam Museum (December 2021 – June 2022); Magdalene Odundo: A Dialogue with Objects held at the Gardiner Museum, Canada (October 2023 – April 2024) and the exhibition currently being held at Houghton Hall, Norfolk (* until 29^th September 2024).

Dame Magdalene Anyango Odundo was born in Nairobi in 1950 and spent her childhood in India, Nairobi, and Mombasa. She was primarily educated in Kenya by Irish nuns – and according to the artist had little knowledge of ceramics. The colonial education system invariably overlooking the chiefly female tradition of making pots for food preparation.

She initially trained in Kenya as a Commercial and Graphic Artist. She travelled to the UK in 1971 to continue her studies – she has lived and worked in England since this time.

Between 1971 – 1973 Odundo was a student at Cambridge College of Art. It was here she first discovered her passion for ceramics. As she revealed in a 2021 interview

“The first time I actually encountered clay I just literally fell in love with it”.

Magdalene Odundo has discussed the importance of clay to her work, considering the connection between pottery and the earth – to quote “you come from it, and you go back to it”. She has referenced how ceramics have been used to produce vessels throughout human history and across civilisations. The corelation between the shapes she creates – the human form and therefore condition – are also pivotal.

She achieved a BA in Ceramics at West Surrey College of Art and Design (renamed University of Creative Arts) between 1973 – 6. Odundo became a University Professor at this institution in 2001 and Emirta Professor in 2016 and Chancellor of the institution. Magdalene Odundo is closely linked with Surrey and is based in Farnham.

During the early part of her career, Odundo, visited Kenya, Nigeria, and the Pueblo people in New Mexico to learn pottery building and glazing techniques. In 1976 The Hepworth Wakefield made the first acquisition on of her work by a UK institution – ‘Eniasulo (Water Carrier)’ (1974-6). She was awarded a Masters in Ceramics from the Royal College of Art in 1982. It was after her exhibition in the early 1980s that appreciation of her work became more widespread.

The Magdalene Odundo exhibition currently being displayed at Houghton Hall, Norfolk brings together several of Odundo’s important works in both ceramics and more unusually glass. The show is the first at Houghton dedicated to the work of a female artist and additionally a black artist. The exhibition aims to create a juxtaposition and a dialogue between the opulent interiors of the Palladian house and Odundo’s contemporary sculptures.

One of the most impactful pieces is a new work displayed as a dining table centrepiece in Houghton Hall’s Marble Parlour. The work was produced during Dame Odundo’s yearlong residency at Wedgwood, Stoke on Trent. The piece reflects upon Wedgwood founder Josiah Wedgwood’s campaigning for the abolition of slavery and work as a ceramicist. This large multi-tiered sculpture is atypical of Magdalene Odundo’s work.

To quote the artist

“It is the first time I’ve used narrative and figure and ornament in my work, because my own work is very paired down, very plain. The discovery of all the ornaments and the figures within the Wedgwood tradition gave me a platform to use narrative and storytelling”.

Odundo uses Jasperware – instantly recognisable as Wedgwood in Black and Cane colours, first used in the 1770s. The lower two-tiers feature horrifying symbols of slavery, and figures, akin to of those depicted in the shocking 18^th century Brook’s slave ship illustration. The upper tier has images of recent protest in Nairobi. Odundo was able to refer to the design in the Wedgwood archive, including the anti-slavery medallions.

For the Houghton Hall exhibition, her modern objects are placed in contrast with the antique and historic pieces, within interiors designed by William Kent for Robert Walpole.

In the Green Velvet Bedchamber where typically a pair of Chinese porcelain cranes are on display – one has been replaced by Magdalene Odundo’s ‘Untitled’ (1995) – these two ceramic pieces seem to be in a direct dialogue with one another. The shape of Odundo’s vessel and black glaze complimented by the chinoiserie cabinet it sits upon.

In the Stone Hall seven objects are on display – five in the centre of the room raised on plinths – and a pair in orange glaze set within alcoves. Against the bright white stone, the black and orange glazed sculptures are shown to their best advantage.

The Magdalene Odundo exhibition is currently being held in parallel with one-hundred Anthony Gormley iron sculptures – installed around the estate.

The market for Dame Magdalene Odundo’s work has been very buoyant this century. In recent years demand and prices have increased dramatically.

To illustrate, it is worth looking at pieces which have appeared on the open market historically and have been offered again this decade. In September 2006 Bonhams London offered ‘A rare Vase Form’ executed by Odundo in 1986. (Lot 220, Bonhams, International Contemporary Ceramics, 19^th September 2006) At that time the piece sold for £27,600 (including BP).

The same work described as ‘Untitled’ was offered in June 2021 at Sotheby’s London (Lot 32, British Art Evening Sale Modern/ Contemporary, 29^th June 2021). This time the vessel sold for £378,000.

Notably, ‘Untitled’ (1984) was sold by Sotheby’s in June 2022. (Lot 2, British Art: The Jubilee Auction, Sotheby’s London, 29^th June 2022). When first going under the hammer 15 years earlier at Bonhams NY the lot had been titled ‘Mixed Colour Flat-Topped Winged’ – achieving $45,000 (Lot 90, International Post-War and Contemporary Ceramic Art, Bonhams NY, 5^th June 2007). In 2022 this work sold for a second time reaching £302,400!

In July 2021 Somerset auctioneers Lawrences of Crewkerne sold a ‘Terracotta Vessel’ produced by Magdalene Odundo in 1985. The work sold for a hammer price of £94,000 (Lot 27, 19^th/ 20^th Century Design, Ceramics…, Lawrences of Crewkerne, 19^th July 2021). The same piece appeared at Sotheby’s less than three years later in June 2024. This time reaching a total of £240,000!

Over the past 18 months records for the artist work have been broken. In June 2023 Sotheby’s sold one of the most striking of her vessels ever offered at auction – Dame Magdalene Odundo’s ‘Untitled’ (1999). Against an estimate of £100,000 – 150,000, it reached £533,400.

For those wishing to view her work in person, it can be found in the collections of the Metropolitan Museum of Art in NY, Pallant House Gallery in Chichester and The British Museum, London.

The ‘Magdalene Odundo’ exhibition continues at Houghton Hall until late September. A solo exhibition of her work will open at the Thomas Dane Gallery, London on 9^th October 2024 and displayed until 14^th December 2024.

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.

To find out more about getting a jewellery valuation, contact us here today!

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.

A Shining Example of Design

Posted on August 20, 2024August 23, 2024 by Fiona Hamilton

Silver for the British Raj in India

The period of the British direct rule of India or The British Raj as it was known (1858-1947) closely followed the Indian Rebellion of 1847. The rebellion came about as a result of an accumulation of different factors over time, including resentment over army promotions and deployment abroad, reforms and taxes, so tensions were already running high.

The system of governance was instituted alongside the transfer of the rule of The East India Company to the Crown, which at this point was headed by Queen Victoria. This resulted in the economies of Great Britain and India becoming even more entwined than in the previous years. The construction of improved railways, roads, canals and bridges under British rule greatly eased the transport of raw materials alongside finished products for import and export between the two nations.

Although the British had been in India since the 1600’s, there came the birth of a new middle class around 1880 following this establishment of direct British rule. The residences of this section of society were opulent and of impressive proportions. The acquisition of fine goods and with it the show of affluence and taste within the home became a new pastime. With the timeless beauty and decadent ornamentation, silver was the perfect choice of work of art to showcase.

The first generation of merchants favoured the more elegant and simpler lines of silver of the Georgian era. During the tour of India by the Prince of Wales in 1875/76, he was presented with a fine and elaborately decorated silver tea service, alongside further beautiful items of Madras silver, some of which were produced by the famous and well renowned company of P. Orr and Sons.

After arriving in Madras in 1843, Peter Orr and brother Alex found work with Gordon & Co as watchmakers, (their original business in Edinburgh) taking over the business in 1849 following the retirement of the owner. Business flourished and it became the most prominent and well thought of silversmith company in Southern India. Silver produced in and around Madras is normally decorated in what’s known as the Swami style, often depicting Hindu gods within sacred scenes.

Following the return to Britain of the Prince of Wales, the fine tea service was exhibited to much acclaim. The Colonial and Indian Exhibition which took place in South Kensington in 1886 is reputed to have attracted an incredible 5.5 million visitors.

Displaying the processes and craftsmanship of their work within the exhibition were a number of Indian artisans which must have been compelling viewing.

The silversmithing companies of India began to be inundated with requests for new commissions for the silver of forms favoured by the British – tea services, punch bowls and salvers amongst others. But change was in the air and the taste for the Indian style of ornate and richly embossed decoration grew even further. These sumptuous items now adorned the homes of British families in many cities of India.

The major cities and surrounding villages had design and ornamentation often peculiar to the area which these days may make them instantly recognisable although designs and details were copied all over!

The silver of Lucknow often depicted scenes of a hunt before a jungle background, they also sometimes had the charming presence of a ‘hallmark’ engraved on the underside, often an elephant or peacock.

Kutch silver is usually very ornate and profusely embossed with scrolling foliage, often with a blank cartouche.

The highly regarded company of Oomersee Mawjee, based in Bhuj, produced a fantastic quality of work and was another favourite silversmiths, with commissions coming from high-end companies such as Liberty & Co.

The well-established firm of Birmingham silversmiths, Elkington and Company, started producing items based on Kutch designs after the strict British hallmarking put a stop to the import of some Indian-made pieces. Silver produced in or imported into the U.K has to pass strict tests in which all of the finished products have to contain a minimum of 92.5% pure silver. Much Indian silver was of a lower purity so failed to pass the strict tests and was often scrapped.

Normal decoration for silver from Calcutta would be various farming scenes, and often depicted small dwellings amidst palm trees in the background. Dass & Dutt and Hamilton & Co were both well renowned companies working out of Calcutta and much favoured by the Indian aristocracy. The marks of the latter changed over many years but always included a small and charming stamp of an elephant.

Due to Kashmir being famous for textile weaving, the inspiration is apparent on the silver produced here. Often coriander leaves, floral and paisley type patterns form part of the repoussé work, but in addition earlier middle eastern inspiration can be detected.

In the world of silver, fashions have changed countless times over the past years and more recently the taste for richly ornamented goods has dwindled with the popularity of iconic and more restrained mid-century design but these fabulous decorative pieces are testament to the craftsmen of all backgrounds and are an important link to the history of silver production in India.

To see more, visit The Victorian & Albert Museum, which showcases fabulous examples of Indian silver. For further reading on this subject, check out Delight in Design by Vidya Dehejia and Indian Silver 1858-1947 by Wynyard Wilkinson.

John Lennon’s Patek Philippe

Posted on August 13, 2024September 9, 2024 by Liz Bailey

The most iconic and elusive watch of all time?

Set to eclipse the hammer price of Paul Newman’s Daytona if this wonderful piece ever comes to auction, John Lennon’s Patek Philippe has been at the forefront of watch news for the past six months. Famously missing for thirty-four years, this iconic and elusive timepiece is currently embroiled in a near-decade long court battle in Geneva between Yoko Ono and an Italian collector, who purchased the piece via private treaty from former German auctioneers Auctionata. Set to resolve by the end of 2024, the outcome of this lawsuit is eagerly awaited by collectors and watch enthusiasts alike.

John Lennon’s ref. 2499 Patek Philippe watch was purchased just months before his death, as a gift for his 40th birthday from wife Yoko Ono. She purchased the 4th series 2499 from Tiffany & Co. in New York – cased in yellow gold, with the retailer’s signature on the dial, and possessing a single personalised engraving to the case back, which rather eerily reads, considering that Lennon was murdered just three months later:

(JUST LIKE)
STARTING OVER
LOVE YOKO
10 • 9 • 1980
N. Y. C.

The reference 2499 by Patek Philippe on its own is an incredibly rare and highly sought-after timepiece. Only 349 examples of this reference were ever made within a 35-year production run. This reference is largely considered amongst collectors to be the ultimate Patek Philippe – combining singularity and exceptional craftsmanship. Replacing the 1518, this perpetual calendar chronograph features the triple subsidiary dial, day and date aperture and pushers to 2 and 4, all within a 37mm yellow gold, rose gold and the rarest of all platinum case (only two platinum 2499s were ever made).

Following Lennon’s untimely death in December 1980, the watch was recorded and placed into storage. It is purported that from here the watch was stolen by Yoko Ono’s former private driver, Koral Karsan who was later charged in 2017. In 2014 however, the watch was sold through private treaty by Auctionata for €600,000 to an Italian collector.

The watch was subsequently taken to Christie’s Geneva, who contacted Yoko Ono’s solicitor to enquire about the watch and its provenance. It was at this point, nearly 35 years later that Ono discovered the watch had been stolen. In 2015 a contest was raised, and the watch was placed in a ‘consignment-escrow agreement,’ with each claimant declaring their rightful ownership of the watch. Now, nine years later the case has reached its final appeal at the Tribunal Fédéral, Switzerland, against a verdict that Ono is the owner of the watch. The case is expected to be settled within the year.

As the watch and pop culture worlds wait with bated breath to see the outcome of this court case and the eventual trajectory of the piece, it is natural that the market is reactionary, meaning that regular valuations are essential for any watch collection.

Prices for Patek Philippe ref 2499 are amongst the highest for the brand and continue to grow – a combination of their rarity, exceptional complication and place in the zeitgeist. Whether Lennon’s watch does make it to auction or not, the infamy and journey of this exceptional timepiece will surely continue to bolster and uplift the value of these rare timepieces.

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!

Old Master Sales July 2024

Posted on August 6, 2024August 9, 2024 by David Dallas

The Old Master market, judging by the London sales in early July, continues to be split between the desirable and the unloved. The Day Sales, for the “unloved” were very flat affairs. Christie’s managed a total of £3.489M for 170 lots, with 36 unsold – mostly sculptures and watercolours, which they now include with oil paintings as there is such a dearth of viable lots; while Sotheby’s total was £2.178M for 182 lots, 65 of which were bought in.

The evening sales painted a much rosier picture, with only 10 out of 58 lots failing to sell on the day, although they may have found buyers, subsequently. Christie’s had much the better sale, in fact, their wonderful Titian of The Rest on The Flight into Egypt made over £5M more than the whole of the Sotheby’s sale! It was estimated at £15-25M and was knocked down for £17.56M including buyer’s premium. Other star lots at Christie’s include the beautiful Quentin Metsys of The Madonna of the Cherries which made £10.66M including buyer’s premium to the Getty Museum, against an estimate of £8-12M. It is interesting to note that this picture was offered by Christie’s in 2015 described as a studio work and made £200,000. At that time, a green curtain, painted at a later date, obscured the beautiful landscape seen through the window. Subsequent cleaning and restoration have revealed that this is the prime version of a much-copied composition. There was also a handsome Frans Hals Portrait of a Gentleman, which made a solid £5.7M.

It was a bad week for George Stubbs the great Liverpudlian, 18th Century horse painter, however. His magnificent Mares and Foals offered by Christie’s with an estimate of £7-10M failed to find a buyer, as did the fine double horse portrait by him offered at Sotheby’s with an estimate of £400,000-600,000.

The Christie’s evening sale achieved a very healthy £43,594,800, which was their best result for 10 years, while Sotheby’s total was a less impressive £12.366M.

One of my favourite pictures of the week, was the view of a Baroque Sculpture Gallery by the Dordrecht painter Samuel van Hoogstraten, which made £356,000 including buyer’s premium at Bonhams. Hoogstraten was a man of many talents, poet, painter, art theoretician and sometime pupil of Rembrandt. There is a wonderful trompe l’oeil, peep show with views of the Interior of a 17th Century Dutch House, by him in the National Gallery, London. It is well worth a visit.

The message from the week’s sales is that if you have a masterpiece by an Old Master make sure the insurance value is high enough and if you have works by minor masters, check current values to make sure your premium isn’t too high.

From Wreaths to Gold: The Evolution and Value of Olympic Medals

Posted on July 30, 2024December 19, 2024 by Jenny Knott

The 2024 summer Olympics in Paris is the 33rd Olympics of the modern Olympiad and the third time that Paris has hosted the event; the previous occasions being in 1900 and 1924. Paris is only the third city to have put on the games three time, the other cities being London and Los Angeles.

This year approximately 11,000 athletes will be competing for the gold, silver and bronze medals awarded in each discipline. In the ancient games, Olympians received a wreath formed from an olive branch; and that only for the winner. Nowadays, there is something rather more substantive and enduring as a token of achievement.

The design of the medals is the responsibility of the host city’s organising committee and varies with each iteration of the Games. The first Olympic medals in 1896 were designed by French sculptor Jules-Clément Chaplain and depicted on the obverse, Zeus holding Nike, the Greek goddess of victory; the reverse showed the Acropolis. They were made by the Paris Mint, which also made the medals for the 1900 Olympic Games and are responsible for this year’s medals. The medals for 2024 are currently stored at the Mint prior to of the start of the games.

The tradition of awarding gold, silver and bronze medals was first instigated at the Summer Olympics in 1904 in St Louis, Missouri, although competition place medals were retrospectively awarded to competitors in the 1896 and 1900 games.

It is the International Olympic Committee (IOC) which determine the physical properties of the medals. Although they were rectangular in 1900, in every other year they have been circular. Over time the designs have been honed, originally medals were handed out, then pinned to chests and then finally in 1960 they were hung around the neck; initially with a laurel chain and subsequently on a ribbon. The three tier victory podium was not introduced until 1931. Prior to this, medals were awarded at the closing ceremony with athletes wearing evening dress.

Until 1912, the gold medals were made of gold. This would be prohibitively expensive these days, but they are still made of silver gilt and at current prices the gold medals from the 2020 Olympics held in Tokyo in 2021 are worth about £630. The silver medals are made from sterling standard silver, which is 92.5% silver; and the bronze medals are predominantly copper at about 97% with zinc and tin alloy to give strength.

An Olympic medal is the pinnacle of any athlete’s career and monetary value is irrelevant compared with the physical embodiment of years of training, sacrifice and perseverance. That said, and without seeming crude, in our world we are sometimes required to put prices on the ‘priceless.’

In Paris this year the successful athletes will be receiving medals that symbolise the motto of the modern Olympics, ‘ Faster, Higher, Stronger – together.’; medals made from gold, silver, copper, tin and zinc. I suspect however, that the athletes might view them as the embodiment of blood, sweat and tears.

Clyde Purnell’s 1908 Olympic Games gold medal for football fetched £18,000 (plus premium) at auction in June 2024. This medal, produced prior to 1912, is made from 15 carat gold, but nonetheless the sale price far exceeds the scrap metal price, which is a little under £1,000.

Swimmer Michael Phelps is the mostdecorated Olympian of all time. He has won 28 medals, 23 of which are gold. He has enjoyed being on the front cover of Sports Illustrated twelve times.

We wish all our Olympians ‘bon courage’ and enjoy Paris.