The ultimate guide to buying handbags

Posted on November 20, 2024November 22, 2024 by Helen Doyle

What to buy second-hand, spotting fakes and caring for your handbags so they retain their value.

A symbol of luxury, designer handbags are often crafted with meticulous attention to detail. Brands like Hermès, for example, employ skilled artisans to hand-stitch their bags using the finest materials. This commitment to quality ensures that these bags are not just fashion accessories, but timeless investments. Other luxury brands, such as Chanel and Louis Vuitton, share this dedication to craftsmanship and durability.

Certain designer handbags, especially limited editions or classic models can appreciate significantly over time, making them valuable assets.

The second-hand market is thriving with popular brands like Chanel, Hermès, and Louis Vuitton with some achieving more than their retail value due to high demand.

The second-hand handbag market is projected to grow at a CAGR of 6.10% from 2023 to 2033. This indicates a strong and steady growth trajectory for the industry.

As consumer preferences continue to shift towards sustainable and affordable luxury, the second-hand handbag market is poised to further expand in the coming years.

Demand for handbags on the resale market has never been higher, and this once small industry is booming. In fact, investing in a handbag is a smart way to spend your money.

Some brands and models can make higher prices at auction than their current retail value.

See below Hermès Birkin selling at auction for £16,500.

A Rouge VIF Ostrich Leather Birkin 30

Sold: £16,500 GBP

December 1 -10 2021
London, United Kingdom

Purchasing pre-owned designer handbags offers multiple benefits. Firstly, it promotes sustainability by reducing waste in the fashion industry. Secondly, it allows buyers to discover unique vintage or limited-edition models that are no longer in production. Thirdly, these handbags often boast high-quality materials and craftsmanship, ensuring durability and style. Finally, buying second-hand provides access to a wider range of trends and styles that may not be available in retail stores.

Here are some examples to show how the market has changed over time.

See below increase in a Kelly handbag in 2007 selling for £400 and in 2023 selling for £7650.

Hermès, A Kelly Bag 1950 – 1960

Est: £300 GBP – £500 GBP
Sold: £400 GBP

Christie’s
November 21, 2007
London, United Kingdom

See below Louis Vuitton and Chanel classic from a sale in Christies 2006 as a group lot and selling for only £480.

Hermès: a Bleu Indigo Clemence Leather Retourne Kelly 32

Sold: £7,650 GBP

March 9, 2023
London, United Kingdom

A ‘Speedy’ Bag by Louis Vuitton & a handbag by Chanel

Est: £300 GBP – £500 GBP
Sold: £480 GBP

September 28, 2006
London, United Kingdom

So which brands sell well on the secondary market?

Hermès

Hermès has a rich history dating back to the 19th century and has produced iconic handbags that have become symbols of elegance and sophistication. Originally founded as a harness workshop, Hermès expanded into leather goods and accessories, eventually introducing its first handbag, the “Haut à Courroies,” designed for carrying riding gear. Nowadays it houses some of the most expensive handbgas ever sold with iconic designs like the Kelly and Birkin, named after Grace Kelly and Jane Birkin respectively, have become highly sought-after by collectors and fashion enthusiasts. Each Hermès handbag is meticulously handcrafted using high-quality materials, ensuring timeless style and durability.

The Hermès Kelly and Birkin are among the most desired handbags in the world, making them excellent investments and highly collectible items. Due to the meticulous craftsmanship and use of rare materials and leathers, Hermès produces a limited number of bags each year. This scarcity, combined with the lengthy waitlists, often drives consumers to the resale market where they can find a wider selection and immediate availability. Despite the premium prices on the resale market, the demand for these iconic bags remains strong.

Look below at examples of the same bag sold in 2005 for £5,760 and 2022 for £11,000.

A black Crocodile Hermès Kelly Bag

Est: £2,000 GBP – £4,000 GBP
Sold: £5,760 GBP

Christie’s
September 29 2005
London, United Kingdom

Hermès: a Black shiny Porosus Crocodile Selllier Kelly 32 1984

Est: £7,000 GBP – £10,000 GBP
Sold: £11,000 GBP

Bonhams
October 4 2022
London, United Kingdom

Kelly and Birkin handbag

The Kelly Bag

The Birkin Bag

It’s not just the secondary market where the value of these handbags increases. Hermes like many other brands increase their retail prices at least once a year and when we look at this over their lifespan, we can start to see why they make such good investments. In the 1950s a standard Kelly bag could have been purchased for $900, by the 60s the same bag cost $1,300, the 70s $2,400, the 80s $4,000, the 90s $5,100 and at the turn of the century it cost $7,400. Today, that exact bag has increased in value to $10,000 – $15,000. The same increase is seen with Birkin bags with a standard Birkin setting customers back $2,000 in 1980, $2,750 in 1990, $4,000 at the turn of the century, and today they sell for up to $20,000!

There are some other Hermès handbags which make great investments.

Hermès Special Order

Exotic skins

This Niloticus Crocodile handbag has achieved over £400,000 at auction.

See below price example of Hermès handbag at auction.

A rare tri colour Hermès Himalaya, 1997

Sold £5,500

June 2022

A vache naturelle, Rouge H Calf Box, Violet Veau Doble

Sold £1,624

June 2009

Chanel

In the 1920s, Chanel introduced their first handbag designs, often made from jersey and in 1929 they launched their first rectangular-shaped bag. By 1955, this rectangular bag featured quilted leather, a chain-strap shoulder bag, a Mademoiselle lock, and a red lining and it started to look like the iconic design we know today. In 2005, Karl Lagerfeld reissued the 2.55 bag, solidifying its status as a timeless classic. In the 1980s, Lagerfeld further expanded Chanel’s handbag offerings with the introduction of the Classic Flap Bag. Chanel handbags continue to be highly sought-after luxury item. The brand’s commitment to quality and innovation ensures that each handbag is a work of art, making them timeless icons in the world of fashion.

The Chanel 2.55 and Classic Flap bags have experienced significant price increases over the years, reflecting their status as highly sought-after luxury items. Since 2016, Chanel has implemented annual price hikes, leading to a more than doubling of prices for certain models. The Medium Chanel Classic Flap, for instance, has seen its price soar from $4,900 to $10,800.

See below example of the 2.55

See below example of the Chanel Boy Bag

Below is an example of a Chanel Classic exceeding its sale estimate.

Chanel – a double flap classic handbag, quilted black lambskin with yellow tone hardware

Est: £1,200 GBP – £1,800 GBP

Sold: £5,000 GBP

Dawsons Auctioneers

September 22, 2022

Here is an example of a Chanel handbag selling at auction in 2003 for only $200.

Classic Chanel Black Handbag Black Quilted Jersey

Est: $300 USD – £400 USD
Sold: £200 USD

Doyle New York
April 09 2023
New York, NY, US

Louis Vuitton

Louis Vuitton, a pioneer in luxury travel goods, has a rich history intertwined with its iconic handbags. Founded in 1854 by Louis Vuitton, the brand initially gained recognition for its innovative flat-topped trunks. Later, Georges Vuitton, Louis Vuitton’s son, introduced the iconic LV monogram canvas, which became a symbol of luxury and status.

In the early 20th century, Louis Vuitton expanded its offerings beyond luggage to include handbags. The Keepall, Speedy, and Alma bags became early classics, each with its unique design and purpose. As the brand continued to evolve, it expanded its product range to include a wider variety of handbags, collaborating with renowned designers to create limited-edition pieces.

Today, Louis Vuitton handbags are renowned for their exceptional craftsmanship, timeless designs, and high-quality materials. The LV monogram canvas remains a signature element of many Louis Vuitton handbags, symbolizing the brand’s heritage and luxury. Louis Vuitton’s ability to blend tradition with innovation has ensured its enduring popularity, making its handbags coveted possessions for fashion enthusiasts worldwide.

Their classic designs are timeless, for example the Louis Vuitton Speedy, first released in the 1930s, is a great handbag that can be purchased for under £1,000 on the resale market.

See below examples of an LV going through auction.

Louis Vuitton Speedy 25 Handbag

Est: £500 USD – £600 USD
Sold: £950 USD

Vogt Galleries Texas
February 27, 2021
San Antonio, TX, US

A Louis Vuitton Black Mini Hand Bag

Est: £2,000 USD – £2,500 USD
Sold: £2,000 USD

Empire Auction House
July 07, 2020
Flushing, NY, US

See below limited-edition Louis Vuitton Speedy selling for $2,500 at auction.

Louis Vuitton ‘Game On Speedy
Bandouliere 30’ Bag

Est: £3,000 USD – £5,000 USD
Sold: £2,500 USD

Austin Auction Gallery
December 09, 2022
Austin, TX, US

See below limited-edition selling at auction

Louis Vuitton ‘Jeff Koons Master’s Rubens Speedy’

Est: £4,000 USD – £6,000 USD
Sold: £3,000 USD

Austin Auction Gallery
December 09, 2022
Austin, TX, US

Louis Vuitton FW 2022 LV Paint Can (Virgil Abloh)

Est: £0 USD – £0 USD
Sold: £3,000 USD

GWS Auctions
October 08, 2022
Agoura Hills, CA, US

The very best investment pieces by LV are the limited-edition versions.

Here are the top five most popular designer handbags of 2024

Chanel 2.55 Flap Bag: A timeless classic, this iconic bag continues to be a top choice for many.
Hermès Birkin: Renowned for its exclusivity and craftsmanship, the Birkin remains a coveted luxury item.
Louis Vuitton Speedy: A versatile and stylish bag, the Speedy is a popular choice for everyday use.
Dior Lady Dior: A sophisticated and elegant bag that has been a staple in the fashion world for years.
Prada Re-Edition 2000 Nylon Bag: This retro-inspired bag has experienced a resurgence in popularity, thanks to its functional design and playful aesthetic.

Caring correctly for your handbag can help retain its value and can significantly extend the life of your designer handbag.

To maintain the pristine condition of your designer handbag, regular cleaning is essential. For everyday dirt and grime, gently wipe the surface with a soft, dry cloth.

Proper storage is also essential. Always store your bag in its original dust bag to protect it from dust, moisture, and light. Stuff the bag with acid-free tissue paper or a soft cloth to maintain its shape. Avoid exposing your bag to extreme conditions such as direct sunlight, heat and humidity. To prevent excessive wear and tear, rotate your bags in your collection.

Avoid overloading your bag, as this can strain the handles and stitching. Protect your bag from water damage by avoiding exposure to rain or moisture. If it does get wet, dry it immediately with a soft cloth. Don’t store makeup or pens in your handbag as these can mark the inside. Try to limit exposure to perfumes, lotions, and other chemicals that can damage the materials.

Spotting A Fake Handbag

If you decide to purchase a handbag on the secondary market its important to make sure its genuine. Remember a genuine designer handbag will be made of the very best quality fabrics and finished to a very high standard. They will have to pass a very strict quality control test before even being allowed to be sold, so if you have a bag that doesn’t ooze quality, it’s time to investigate a little further.

Here’s some tips for spotting those pesky fakes.

Construction and fabric

Fake handbags are often poorly constructed which can result in the shape being compromised. This can result in the overall shape being different to the real thing as well as puckering of corners and sections not sitting flat or quite as they should.

The fakers will often focus heavily on the exterior of a handbag and usually skimp on internal features such as lining, therefore it’s good to really assess the inside and check if the fabric lies flat without visible lumps and bumps, it certainly should in a genuine handbag.

Take note of the fabrics pattern and how it flows through the handbag. They should match at seams and through pockets and flaps as if there were no join at all and it was just a continuation of the fabrics design. This is a simple thing that can be quickly assessed and is something the fakers often fail to achieve.

Knowing the defining features of some commonly used fabrics can be a great tool at spotting a fake. The fakers often make silly mistakes when replicating details such as painting on what should be textured or making it larger or smaller than it should be.

Here’s a list of popular fabrics and their defining characteristics.

Louis Vuitton Canvas

The canvas used by Louis Vuitton is very hard wearing and robust and comes in a Monogram or Damier pattern, there are multiple variations of this in different colours and finishes. The material is also very slightly textured and can have a purple undertone.

Louis Vuitton Epi Leather

Epi Leather used by Louis Vuitton is a very hard-wearing and textured fabric with a matt finish which is very popular. Fakers often paint on the textured look or sometimes it’s much more over emphasised than it should be.

Louis Vuitton Vachetta

Louis Vuitton use Vachetta which is a light beige, untreated Italian leather often used on the trim and handles. Due to being untreated it can age and go darker over time a process called Patina. This development of the leather is individual to each bag and no two will age in the same way. An old used LV with its trim or handles in perfect condition could be a sign that bag is fake.

Chanel Lambskin

Lambskin leather is very popular for Chanel and should feel soft to the touch and have a visibly smooth appearance. It is of superior quality and easy to distinguish from the feel and appearance which isn’t often achieved by the counterfeiters. If you are inspecting a lambskin leather bag, ensure it feels extremely soft to the touch.

Chanel Caviar Leather

Caviar leather is made from pebbled calf leather and is popular in Chanel handbags. It has a bubbly appearance and is textured. Its durable and less likely to scratch and mark than lambskin. When you run your hands over genuine caviar leather you should feel raised dimple. This is often over embellished by the fakers.

Exotic skins

Exotic Skins should be purchased with the CITES which is a passport for the skin. There are certain characteristics that differentiate alligator and crocodile from ostrich and python. Faked exotic leathers are often made of embossed leather.

Stitching

Most designer handbags are expertly sewn by machine except for the Hermès Kelly and Birkin that are sewn by hand. In all cases the stitching should be finished to an exceptionally high level inside and out with a high number of stitches used to maintain the shape and quality of a bag. A low number of stitches or stitching that is coming undone could be a sign of a fake.

There should be no signs of glue or loose threads and the presence of these should make you suspicious.

The number of stitches can be very important. The quilted fabric on a Chanel should feature between 8 to 11 stitches per side of each panel. The fakers often use a lower number of stitches to create the same look, so counting these can help spot a fake.

A vintage Chanel with a chain should have one metal link without the leather threaded through. A modern version will feature one link with the leather folded back on itself and stitched through. This is a feature often missed by the fakers so check the chains, its easy and super quick to do.

Serial Number

Serial numbers can tell you a great deal about a handbag and most designers use them except for some vintage models.

It can tell you the age and the location where the bag was made. Use this information to your advantage, If you are buying a pre-owned designer handbag and the seller says they purchased it in Paris in 2008, check that the number corresponds to this information.

Below is a list of where you can find the serial numbers for each designer

Chanel
The serial number can be found inside the main compartment to the bottom left. In the form of a sticker, the code is very securely attached, and these rarely come off.

Louis Vuitton
The code is embossed on a tag or on the inside of a pocket. They can be a little tricky to find. Louis Vuitton do not come with an authenticity card. Some vintage models don’t have a code.

Gucci
The serial code is embossed under the Gucci label inside of the bag.

Hermès
Hermès bags don’t have a serial number but they do have a letter to identify the date they were manufactured. This letter is usually embossed into the leather.

The lack of a serial number in a modern handbag should raise an alarm. When checking serial numbers yourself, check they follow the format listed in the table below.

Louis Vuitton 2007 – 2021
Two letters followed by four numbers. The first two letters represent the factory location. The first and third numbers represent the week of the year, and the second and forth numbers represent the year.

Louis Vuitton 1990 – 2006
Two letters followed by four numbers. The first two letters represent the factory location. The first and third numbers represent the month and the second and forth numbers represent the year.

Louis Vuitton 1980 – 1990
Two letters followed by three or four digits. The letters represent the factory location, and the first two numbers represent the year, and the 3rd number represents the month.

Chanel
1984 – 1986
Serial number has six digits.

Chanel
1986 – 2004
Serial number has seven digits.

Chanel
2005 onwards
Serial number has eight digits

Packaging & Authenticity Cards

Not all authenticity cards are authentic!

A common characteristic seen in a fake Chanel authenticity card is an iridescent or rainbow effect. Chanel do not issue cards with this feature and Louis Vuitton and Hermès do not come with authenticity cards at all.

The packaging is another place where the fakers tend to focus less attention. Packaging should have the same luxurious high-quality finish as the original handbag. Check the logo is central, the handles of a bag should not come wrapped in plastic. Is the dust cover the correct colour? It should be mustard yellow for LV and white or black for Chanel.

The Hardware & Logos

The hardware should be excellent quality and smooth without rough edges. Clasps should work well and be good quality with no sharp edges.

Here are some classic characteristics you should see in real hardware.

Chanel

The brand stamp should be in the correct style of font and quality of the stamp should be good. The fakers use a thinner font.

Chanel

Inspect the CC lock closely it can feature either a raised or flat finish. The right C should overlap the left C at the top and the left C overlap the right C at the bottom. Replica locks generally feature minor mistakes such as the shape of the Cs, the placement of additional metal above the lock, and even the style of the interlocking Cs.

Chanel

The lock stem itself is another feature worth checking. Authentic lock stems are made from 24K gold plate and even when used for a lengthy period will still maintain its condition. Replicas, however, are generally plated with gold which will peel off after use. When the lock is twisted open it should feel springy.

Chanel

The real giveaway is the stamping mark on the back plate of the clasp. If you open the bag and look at the back of the turnstile lock you will see the back plate. Chanel attaches this using flat screws only alongside a clear font with even spacing. Replicas may use different type of screws and various other styles of lettering and font on the back plate.

Louis Vuitton

The quality of the padlock should be excellent with the engraving clear and crisp. One notable detail is the use of the perfectly round O in Vuitton, and the L has a short tail with the top of the T’s almost touching.

Louis Vuitton

Padlocks and Keys are made of brass or plated and are numbered, with the same number on the key. Look out for some numbers are used more commonly than others, such as 448.

Louis Vuitton

The lock and keys are normally numbered. Those beginning with 3 (3XX) were made before 2009 and those beginning with a 4 (4XX) were made after. Be aware that they have begun making padlocks with 3 again now so this should just be a guide. When dating a LV best to rely on the serial number.

Louis Vuitton

The lock should read: Louis Vuitton – Made in France or Paris. A padlock saying Made in Paris is probably fake as ‘made in’ always is followed by a country not a city. It is predominately vintage handbags that say Made in France as more recently they started making bags in different countries, so they dropped this.

This guide should help you if you are thinking about purchasing a new or preowned designer handbag. However, it is also extremely important to have an up-to-date valuation for luxury items. This will ensure that your bag is adequately covered in case of theft, loss, or damage. As designer handbags go up in value over time, a recent valuation helps determine the appropriate level of insurance coverage. It can protect your investment and give you peace of mind knowing your luxury item is adequately insured.

A Tribute to Frank Auerbach (1931–2024)

Posted on November 18, 2024November 27, 2024 by Jonathan Horwich

Frank Auerbach, one of the most important and unique voices in contemporary art, passed away on 11^th November, leaving a profound legacy in the world of painting. His death marks the end of an era, but his work—raw, visceral, and deeply human—will endure for generations to come. Auerbach’s paintings, which often appeared as works of fierce immediacy, were also the products of an unrelenting pursuit of truth and an intimate understanding of his subjects.

Born in 1931 in Berlin, Auerbach’s life and art were shaped by history, by the upheavals of World War II, and by the quiet intensity of urban London. His parents were, jewish and were part of a thriving and integrated community fully assimilated into German society. His father, Max, who had served in the German army, was a lawyer, and his mother, Charlotte, had studied art. In 1939 his parents, concerned by the escalating, violent anti-semitism of Nazi Germany, dispatched Frank then aged 8 to England via the Kinder transport, he never saw them again. Sporadic letters from them conveyed via the Red Cross, ceased in 1943. Only much later did he learn that they had both been taken to Auschwitz early in March 1943 and both has died there that year. Talking about this time in his life on BBC radio’s ‘This Cultural life’ first broadcast on January 27^th this year, he says “I am in total denial, and it has worked very well for me. To be quite honest I came to England, and it truly was a happy time. There’s just never been a point in my life when I wished I had parents.” Indeed, it did all work out well for him. He had the good fortune to find himself with some of the other Jewish Refugees at Bunce Court, a Quaker school in Kent which he loved and where he excelled in Art and Drama. In 1947 he was naturalised as a British Citizen and moved to London. He decided at the age of 16 to become an artist and attended art classes at Borough Polytechnic, now London South Bank University where the famous British painter David Bomberg taught him. Following this he was accepted at St. Martin’s School of Art.

It is tempting, to see Auerbach’s need for routine, his desire to keep the same sitters in the same place year after year, as a reaction to his childhood. Equally he lived within a very tight local orbit, and his subject matter comes almost entirely from his immediate environs of North London and his studio with its unfailingly regular and intensely loyal sitters.

In the early 90’s I had the pleasure of meeting one of these sitters, the art collector and academic Ruth Bromberg (1921-2010). Ruth sat regularly for Frank for two hours every Thursday for almost seventeen years. I asked myself why ? I found the answer in a letter Ruth wrote to Frank in 2008 published by the British Museum. Due to failing health Ruth reluctantly relinquished her duties as sitter, she wrote sadly to Frank as follows.’ I know how important your sitters are to you, and I would not wish to be the cause of disruption in your work schedule…I cherish my hours spent in the studio, my home away from home…Thursday afternoons will never be the same again and I feel the loss.’

Frank’s brushwork, a relentless engagement with the surface of the canvas, was a testament to his tireless search for meaning beneath the layers of the everyday world. His portraits, are at once fiercely abstract and deeply personal, capturing the essence of the individual through the weight of paint and the tension of form.

Auerbach’s paintings are known for their emotional depth and complexity, born of years of painstaking observation and reworking. He would often spend months, even years, refining a single portrait or cityscape, digging deeper each time into the texture and emotion beneath the visible surface. His relentless approach to painting was not only about achieving perfection but about honing a profound connection between artist and subject. Each stroke on the canvas, each layering of thick impasto, spoke to Auerbach’s belief in the struggle to capture truth and memory—never an easy task, but one that demanded everything of him.

His works were never concerned with trends or the fashion of the moment; instead, Auerbach’s paintings radiated an honesty and integrity that transcended time. His commitment to figuration, at a time when abstraction was dominant, and his resistance to simplification, made him a singular figure in British art. He was a master of his craft, but never complacent; always evolving, always questioning. He was a painter’s painter and his opinion really mattered to his fellow artists, particularly to his close friend Lucian Freud, who would not consider a work finished until Frank had seen and approved it.

Throughout his life, Auerbach remained a fiercely private individual, rarely seeking the limelight. Yet, his work spoke loudly, its emotional power reverberating in galleries and collections around the world. His portraits were not just depictions of faces—they were psychological explorations, capturing the depth of the inner life of his subjects. His cityscapes, on the other hand, were a meditation on the persistence of memory, as well as the transformation of place over time.

Auerbach’s influence, though perhaps understated in some circles, was profound. His legacy is not merely in the works themselves but in the way he taught us to see: to engage with the world with intensity, with a fierce awareness of its complexities and contradictions, and to never settle for the surface.

In his passing, the world has lost a giant. But the impact of Frank Auerbach’s work will continue to inspire and challenge us for many years to come. His paintings will live on, continuing to confront us with the same questions he asked of himself throughout his career: ‘What does it mean to capture a moment, a face, a city? How can we, as artists and as people, approach the world with the depth and urgency it deserves?’

Rest in peace, Frank Auerbach. Your vision, your dedication to your art will never be forgotten.

Jonathan Horwich, 14/11/2024

To find out about our art valuation service call us on 01883 722736 or email [email protected]

Inside the Record-Breaking Sale of the Anglesey Necklace

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

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

The Anglesey Necklace

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

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

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

A Marie Antoinette Connection? The lore of the Anglesey Necklace

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

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

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

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

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

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

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

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

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

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

Slow and Steady? The Enduring Appeal of Cartier’s Tortue Wristwatch

Posted on November 13, 2024November 22, 2024 by Liz Bailey

French for ‘Turtle,’ the Cartier Tortue gets its name from its distinctive tortoise shell shaped case. The Tortue was Cartier’s third ever watch case design, predating even the ever-popular Tank. Louis Cartier had just introduced the Santos-Dumont in 1904 and the Tonneau in 1906 when he designed the Tortue in 1912.

Cartier’s First Ever Chronograph

The Tortue started out as a time-only watch but in 1928, both a minute repeater and a single-button chronograph were introduced. The Tortue Monopusher was in fact Cartier’s first ever chronograph timepiece. These early pieces are incredibly rare, and less than fifteen pieces have ever surfaced on the open market. In 2002, Antiquorum sold a 1929 Cartier Tortue ref. 20797 – a rare example of a minute repeating watch and at the time thought to have been the only minute repeater made by Cartier during the Art Deco period. This piece set auction records, and achieved a hammer of CHF 993,500, or £877,871.50. Two years later in 2004, Antiquorum unearthed and sold a 1928 example of a Tortue Minute Repeater ref. 20797 and this piece achieved $640,500.

Throughout the 20th century, Cartier have produced many variations of the Tortue, in steel, yellow gold and platinum. Popularised as a ladies watch and gaining celebrity fans such as Cate Blanchett and Patti Smith, these watches have been available to purchase on the secondary market, performing steadily on an upwards trajectory.

For example, the Cartier Tortue reference 2496C which was produced from 1998-2008 is a time-only, 34mm, 18ct yellow gold watch with silvered dial and classic Cartier dial with Roman numeral markers, chapter ring and blued steel Breguet style hands. According to Chrono 24, the average value of this watch took a typical post-covid dip from those dizzy heights in watch collecting, however has been steadily increasing over the last 18 months, with the average sale figure on the secondary market now sitting at £12,500 (rising from a modest £5,000 pre-covid).

Re-imagined and launched at this year’s Watches & Wonders, the 2024 Privé Tortue is the eighth instalment in Cartier’s latest Privé collection. Celebrating 112 years since the inception of the original Cartier Tortue, the maison introduced a collection of time-only and more excitingly chronograph Privé Tortue models, each limited to 200 numbered pieces – except for a diamond and platinum monopusher (or monopoussoir in French) watch limited to 50 pieces.

Model	Production Quantity	Price at Watches & Wonders 2024 (Source: Hodinkee)
Platinum Privé Tortue Monopoussir Watch	200	€53,000
Yellow Gold Privé Tortue Monopoussir Watch	200	€46,000
Platinum Privé Tortue Watch	200	€31,100
Yellow Gold Privé Tortue Watch	200	€27,900
Platinum Diamond Privé Tortue Watch	50	€67,735 (£56,500, Source: Cartier)

With production numbers limited and many models already sold out – at the time of writing only the platinum diamond Privé Tortue and the platinum Privé Tortue were still available to purchase new from Cartier – it will be interesting to see the rise in value for these timepieces, particularly the Monopoussir references with their sleek classic design, impressively ‘simple’ one button chronograph complication and distinctive red ruby cabochon crown.

In what remains an ever-changing market, current and up-to-date and specialist watch valuations are incredibly important to ensure that your collection is adequately covered. For an insurance valuation of your collection from our specialist, nationwide team, contact our team via [email protected] or visit our website www.doerrvaluations.co.uk.

A fine art: dealing with art and chattels on divorce

Posted on November 11, 2024March 20, 2025 by Rachel Doerr

It is often claimed that London is the ‘divorce capital’ of the world. The city also plays an important role in the global art market, being home to world-famous auction houses and galleries.

It is not surprising therefore that the division of art collections increasingly crops up within the context of divorce proceedings. Over the last 10 years, diverse investment portfolios are more likely to include tangible assets such as art, wines, watches and jewellery. The valuation of such items can be difficult however and the division between a couple in the event of their divorce can be contentious.

Valuation

Valuation is a central issue in most divorce cases. The family courts need to calculate the assets in the case and categorise them as ‘matrimonial’ or ‘nonmatrimonial’. Only once the valuation exercise is complete can the parties (and the judge) turn their minds to considering the division of the matrimonial assets between the couple (and if necessary invading the ‘non-matrimonial’ property) to effect a fair financial outcome.

The court can sanction the instruction of an expert within matrimonial proceedings under Part 25 of the Family Procedure Rules. The benefits of expert valuations are that they can:

Provide a clear understanding of value and can prevent heartache, arguments and expensive legal wrangling.
Support compliance with the financial disclosure required by Form E and each party’s duty to give full and frank disclosure of their worldwide assets.
Help to minimize conflict, so all parties are using the same figures when entering into negotiations.
Help both parties find a fair and informed division of the assets once values are understood.

The expert owes a duty to the court to help on matters within their expertise. This duty supersedes their obligations to the paying party so their report can be truly independent and reliable.

The letter of instruction to an expert is a vital document. It needs to clearly set out the relevant background and to ask the right questions. Key considerations for instructing an art expert include:

Individual pieces vs a collection

Valuing a single piece of art may be easy. But what of a collection? The expert needs to know if they are valuing the collection as a whole or the individual pieces. A well curated collection may be worth more than the sum of its parts, and this value needs to be accurately recorded. In the case of a large collection being sold, the total price achieved can often far exceed presale price expectations. Factors in this are varied but with art, the price achieved is linked to the quality, breadth and date of the works in the collection and also the profile of the owner in the art world. A good example is the recent sale in New York of the Macklowe collection of contemporary art. The sale came about as a result of a very high profile, acrimonious and long running divorce battle in the courts between Harry and Linda Macklowe. The disagreement reached a stalemate, which was ended by a judge declaring that the art must be valued and then sold by public auction. The works were spread over two major auctions in New York in November 2021 and May 2022. Every single lot sold and the total of $922 million became the highest total ever achieved for a private collection at auction.

Purpose of Valuation

The purpose of the valuation can also impact the value. A valuation which assumes a fire sale may differ markedly from a considered sale over time. This may differ again from a value for tax purposes, insurance or probate. For the purpose of valuation for matrimonial proceedings, the value level required is referred to by the courts as ‘fair market value’ and is defined as:

‘the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts’. ‘the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts’.

The Court’s Approach

The court starts with an assumption that assets generated during the marriage, which are considered ‘matrimonial’, should be shared equally. These sharing claims are cross checked against the parties’ financial needs, which are assessed in the context of the couple’s standard of living during their relationship and all the available resources. If required to meet their respective income and housing needs (and those of any children), one spouse may be awarded more than 50% of the ‘matrimonial’ assets, or potentially even a share of the other spouse’s ‘non-matrimonial’ assets.

The categorisation of assets as ‘matrimonial’ or ‘non-matrimonial’ is not straightforward. An artwork purchased during the marriage by the couple together using their joint funds is almost certainly ‘matrimonial’ whereas an inherited piece kept in storage paid for by one party from their own funds is most likely ‘non-matrimonial’. But the court will also have to grapple with the less clear scenarios – perhaps a piece purchased by one party with their sole funds during the marriage, or an inherited work declared to have been gifted from one spouse to the other.

The division of chattels, particularly artworks, between the couple on divorce can be particularly challenging. One spouse may connect with a certain piece, regardless of when it was purchased and by whom. It is not necessarily the case that the art purchased during the marriage will be physically shared item by item, to be displayed in either party’s home, but it is essential to capture its value in the calculation of the marital pot. The parties can agree whatever terms they feel achieve fairness, failing which the court has a wide discretion to divide the assets (or order their sale) to achieve overall fairness in the circumstances of the case. For items of particular sentimental value, it is common for parties to want to impose a condition that the receiving party leave by will to their children. The court does not have the power to order this as English law allows for testamentary freedom but, if the parties can agree, their settlement can provide, for example, that one party enter into an irrevocable deed to leave certain items to the parties’ children upon their death.

Protecting Artwork on Divorce

Ultimately, to protect any asset from sharing in the event of a divorce, it is prudent to enter into a pre/post-nuptial agreement setting out how their assets should be divided in the event of a divorce. Nuptial agreements are becoming increasingly popular with couples who wish to agree the division of their assets and avoid a potentially contentious divorce in the event of marital breakdown. Spouses should also ensure that the purchase and ownership of the art is clearly documented and consider where it should be stored or displayed. Disputes about gifts are also common in divorce cases – one spouse may argue that a piece was gifted to them individually, whilst the other claims that it was gifted to them both. Care should be taken to ensure that gifts are evidenced and insurance policies are in the right name. Open and honest communication, whether in negotiations surrounding a nuptial agreement or otherwise, can help to avoid disputes on separation. Early professional advice is crucial in identifying and valuing artwork to achieve an overall fair settlement in divorce proceedings.

Frederick Tatham, Partner, Farrer & Co

Elizabeth Biggs, Associate, Farrer & Co

Rachel Doerr, Founder & Managing Director, Doerr Dallas Valuations

Visit the Farrer & Co website here: www.farrer.co.uk

Visit the Doerr Dallas Valuations website here: www.doerrvaluations.co.uk

A Glimpse into Asian Art in London: Highlights from a Vibrant 2024 Edition

Posted on November 7, 2024November 11, 2024 by Ashley Crawford

Over the past few days, I have enjoyed attending Asian Art in London (AAL), which is always a focal point of the year. Whether you are an arts professional, a seasoned collector, or a complete newcomer to the world of Asian art, AAL offers a multitude of valuable experiences for everyone.

As an Asian art valuer, I always make sure to attend as many Asian art fairs as possible to assess current market trends, widen my knowledge of objects outside of my specialties, meet new colleagues, and, of course, enjoy some world-class Asian art! This year, I attended Asia Week in New York, Printemps Asiatique in Paris, and AAL, which is currently running through 8 November. Over a 10-day period, AAL celebrates galleries from all over the world, local Asian art auctions, and, for the first time ever, a full-day symposium on various Asian art topics at SOAS, University of London. While all of the Asian art fairs I’ve attended have been very successful, Asian Art in London is unique because it is the oldest, currently celebrating its 27^th year. This is the third year I’ve attended, and thus far, 2024 has been my favorite. Here are three highlights from my experience this year:

The Asian Art in London Gala

The annual gala was held at the V&A this year, where guests networked, learned about the winners of each of Asian Art in London’s prize categories, and were able to view the Asian galleries outside of the hustle and bustle of opening hours. I enjoyed attending a curator-led tour of the Japan collections, particularly the kimonos on display. One of my favorite kimonos was a bright and bold contemporary work by Ueoka Taro, which was a striking juxtaposition placed next to the traditional kimonos.

Ming Gu Gallery’s Lecture with Artist Li Chevalier

This year, Sotheby’s is hosting several gallery participants from AAL. Ming Gu Gallery, a contemporary gallery specializing in East Asian art, very kindly invited me to attend a lecture with Li Chevalier, the artist of the gallery’s solo exhibition Unveiled Silence. As an antiques specialist, I greatly benefitted from learning more about contemporary Asian art trends and techniques. Chevalier has led a fascinating and international life, reflected in her mixture of Chinese and Italian art techniques. Her career began in music, rather than art, at the age of 15, when she joined the Chinese army as an opera singer. She has since lived in Italy and France and often works in the UK. Today, her work remains heavily influenced by music, poetry, and a multicultural identity. This is demonstrated in her painting In der Fremde (In a Foreign Land), named after Robert Schumann’s Lied. [1]

The SOAS Symposium

As a SOAS alumna of both the Postgraduate Diploma in Asian Art and the MA in History of Art, I was excited to attend SOAS’ first ever symposium for AAL, Asian Art: Objects in Focus. I attended to learn more about the specialist topics offered, but also as a Travel Hands volunteer guide for a deafblind participant, as I frequently provide museum tours for this organization. SOAS has a very engaged alumni community, so it was wonderful to see so many familiar faces. Two major recurring themes across the lectures were provenance and dating, topics that are always at the forefront of an Asian antiques valuer’s mind!

My favorite lecture was Dr Johnson’s Chinese Teapot: Tracing the History of a Celebrity Object by Professor Stacey Pierson. This keynote presentation explored the fascinating and complex provenance of a teapot at the British Museum that had been incorrectly labeled as having been owned by Dr Samuel Johnson, the British lexicographer. Professor Pierson raised important questions about the implications of naming an object after a famous person or place, a term called “provenance branding”. She cited other examples such as the Hope Diamond and the Benin Bronzes. In the case of the Dr Johnson teapot, the issue extended far beyond a single object, as many stylistically similar teapots were also misattributed. Going a step further, auction lots of similar teapots (such as here and here) that had no contact with Dr Johnson at all often still include reference to this celebrity somewhere in the listing.

As valuers, we employ the same provenance research skills when assessing objects. The correct provenance is crucial when determining values, and, as Professor Pierson’s lecture demonstrated, it’s important not to automatically assume that the provided provenance is accurate! I learned so much from the various case studies at the SOAS symposium and was very grateful for the invitation from the SOAS-Alphawood Diploma in Asian Art. I hope the symposium will become an AAL tradition in future years!

Asian Art in London runs through Friday, 8 November. You can learn more about the events offered here.

You can learn more about Ming Gu Gallery’s current exhibition Unveiled Silence here.

You can learn more about the SOAS-Alphawood Postgraduate Diploma in Asian Art here.

You can read Professor Pierson’s article about the Dr Johnson teapot here.

[1] Some examples of her previous similar paintings are here and here.

To arrange a valuation of your Asian Art call us on 01883 722736 or email [email protected]

Exploring The Boodles National Gallery Collection

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

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

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

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

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

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

Perspective

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

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

Brushstroke

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

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

Motherhood

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

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

Play of Light

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

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

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

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

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

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

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

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

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

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

Limited edition watches – when exclusive just isn’t exclusive enough…

Posted on October 30, 2024November 15, 2024 by Alastair Meiklejon

Why do people buy luxury timepieces? It is a question that many people will ask, but nobody can truly reply with one answer.

Is it to tell the time? Highly unlikely.

Is it a status symbol? Possibly.

Is it to stand out from the crowd? Again, quite possibly.

This is where the allure of a limited edition watch comes into play, lets picture the scene;
You are in your local bar on a Thursday evening (for those that work in London, you will know that this is the post covid night to be seen outside a bar in your gilet and trainers) and every other person in your office has a Submariner, or a GMT…when you arrive with a brand new limited edition watch that catches everyone’s eye. Irregardless of cost, the words that come out your mouth will be;

“Well, they only made 25 of these – and my authorised dealer managed to get me to the front of the queue”

In that very instant you will be launched into the higher echelons of the watch enthusiasts in your office, and demand respect among the other ‘watch guys’ who took the ‘obviously boring route’ into luxury watch ownership by buying a black bezel Submariner.

What is very clear though is that limited edition watches are actually almost an addiction for the hardened watch collector, the possibility of owning a watch that you are very unlikely to see another one of, apart at watch collectors evenings (yes, these things do exist) has such an appeal that many limited editions will be sold out months and years before they ever see the light of day.

So, why do limited edition watches even exist?

There are many schools of thought in this department and originally, they were formed in order to move old stock – the old adage of ‘How do you make something old more interesting?’ – by making it appear new again. Car manufacturers still use this trick by giving a tired old model that nobody wants to buy any more by putting in some new seats and a slightly different paint job.

Are they a good investment?

Well, given the date of October 2024, they are still a good investment but given the recent cycle of insane watch prices, it’s hard to determine where things might go but if we take one of the most noticeable and ‘mainstream’ limited editions and use this as an example.

The Rolex Submariner 50th Anniversary 16610LV

The Rolex Submariner 50th Anniversary 16610LV
What on earth is that I hear you cry – well like many iconic things on the planet, such as Plato, Voltaire, and Shakira, it goes by a simple one word name of (the) Kermit.
When this watch was released in 2003 it caused a minor stir amongst Rolex aficionados and remember that this was a time when you could consider buying a Rolex after seeing it, as opposed to just being told about it on the phone or email.

The green bezel was not considered to be in keeping with the Rolex ethos, despite the fact that all their boxes were this colour, and nobody considered that the GMT was a little too outlandish – and so this watch was discontinued in 2010, a mere 7 year run, which at the time was considered to be a major failure. Back then I was offered two of this model, with a discount on retail price of £500 a watch, roll on 14 years and the story is very different.

This watch still retails on the secondary market for around £14,000 – I am aware that at the absolute peak of the market some people were paying up to £21,000 for them, but that was ridiculous, as was most of the market around this period.

When compared to a standard black bezel that you will see 35 of every night at The Ned, it has performed better due to its limited run – so much so that Rolex released similar watches following this such as ‘The Starbucks’ and ‘The Hulk’ – FYI, Rolex don’t actually come up with this names, thankfully.

Patek Phillipe Nautilus 5711 40th anniversary

Whether or not this could be considered a ‘Limited Edition’ or not, is a good question – by any definition all luxury watches are ‘limited’ purely down to the fact that creating and manufacturing processes dictate that they cannot pull one off a production line every 30 seconds, considering that Rolex makes around a million watches a year, one could debate if this is down to supply to market rather than ability.

Another very good example of how the smallest detail can change not only the appearance of a watch, but also the heart rate of the collector is the Patek Phillipe Nautilus 5711 40th anniversary. From any distance this watch just looks like a standard 5711, (currently riding high in the top ten of the stockbroker mugging chart) but in fact it’s made from platinum and has an extra detail on the dial to indicate that you are very special, so special in fact that you were allowed to buy this watch. These small details now will tell the great and good that not only did you buy a Nautilus, but you also probably had to have owned a few in order to own this one – and now have to insure this particular watch for around £300,000.

Audemars Piguet Royal Oak Selfwinding Frosted Gold “Carolina Bucci” Limited Edition 37mm

There are many other watches that are released as ‘Limited Editions’ by the big boys in the horology world and they vary as much as anything else in terms of investment – one simply cannot tell until the market decides, and this means taking the plunge sometimes.

Whether or not history will be kind to the pink dial Tudor Chronograph is a question I have been asked quite a lot, needless to say – I have been diplomatic in most of my conversations about it.

Even in the sales pitch from Tudor, they say ‘It might not be for everyone’…but because it’s a limited edition, you should buy it anyway.

Why pink you may ask, but it’s actually a fairly simple answer – David Beckham. As one of the brands main ambassadors, and staple signature of masculinity, a pink dialled watch to go with his pink shirted football team Inter Miami seems to make sense in the celebrity endorsed watch world. For a price of £4,880, it does seem to be a reasonable outlay if you can live with that dial.

Tudor Black Bay Chrono Pink

The Legacy of Elisabetta Sirani: Art, Fame, and Mystery

Posted on October 22, 2024November 25, 2024 by David Dallas

This week’s female artist is the fascinating Elisabetta Sirani (1638-1665).

She was born in Bologna on January 8^th 1638 to Margherita and Giovanni Andrea Sirani. Fortunately for her, her father Gian’Andrea Sirani was a favourite pupil of Guido Reni and took over his practice as teacher and master in the first Life School in Bologna. Naturally, Elisabetta studied under her father and, therefore, absorbed the technique of Guido. She also studied the paintings of other great Bolognese baroque painters such as Annibale Carracci, Simone Cantarini and Carlo Cignani. She was well educated, liked music and was familiar with the Bible, lives of the Saints and classical mythology, all of which provided subject matter for her paintings.

By 1654, when she was only 16, she took over the running of her father’s workshop, as Giovanni Andrea had become incapacitated by Gout. I am not sure why Gout was so prevalent in previous centuries and caused so much trouble. Joseph Banks in the late 18^th Century, for example, would take to a wheelchair for several months at a time. Enough on Gout!

Elisabetta Sirani Timoclea killing the Captain of Alexander the Great

Elisabetta Sirani – Self Portrait

From this moment on, Elisabetta, the eldest of four children became the family’s main breadwinner by a combination of income from her portraits and other commissions and tuition fees. She had more than a dozen pupils and set up the first lay, as opposed to convent, school for women artists. She was also a prolific painter, as well as celebrated teacher. She produced over 200 paintings, 13 altarpieces, 15 etchings and hundreds of drawings. In fact, she was so prolific that many people accused her of using pupils to paint the pictures, which was, after all, standard studio practice. However, Elisabetta tended to sign her pictures and in order to rebuke the accusations that she did not paint them herself, invited her accusers on May 13^th 1664 to her studio to watch her paint a portrait in a single sitting!

She became a celebrity and anyone of status visiting Bologna would ask to be invited to her studio to watch her at work. Her clientele was made up of Kings, Princes, Dukes, Cardinals, rich merchants and the church, not only from Bologna but across Europe. All of this is surprising, as she was dead by the age of 27. The cause of her death is the subject of mystery and speculation. Some say she was poisoned by a jealous maid, others that she developed ulcers because of her excessive workload.

Elisabetta Sirani – Madonna and Child

Portia wounding her thigh

In any event, the city of Bologna went into mourning at her death and she was given a most elaborate funeral. A massive catafalque was created with a life size sculpture of Elisabetta inside it. There was music composed in her honour by the most famous musicians in Bologna and orations and poems written in honour of the “Lamented Paintbrush”. She was buried in the Basilica of San Domenico in Bologna, in the same tomb as Guido Reni, who had been her father’s tutor.

A word on the Catafalque (temple of honour)

What we are looking at is a design for the catafalque by Matteo Borboni (c.1610-1667) who oversaw the decorations for her funeral. The finished monument was made of wood painted to look like marble and the life-size statue of Elisabetta at her easel was made of wax. This gives you some idea of the scale of the temple and the high regard in which Elisabetta “Gem of Italy” was held.

If you are lucky enough to own one of her paintings, make sure it is properly insured. An average Madonna and Child is worth between £50,000 and £80,000. The top price at auction is $505,000 for “Portia wounding her thigh”, sold at Sotheby’s New York in 2008.

A drawing of Elisabetta’s Catafalque by Matteo Barboni (1610-1667)

Silver’s Time to Shine: How Rising Prices and Unique Pieces are Reviving the Market

Posted on October 17, 2024November 15, 2024 by Jenny Knott

Over the last few years, the silver market has perhaps been viewed as a rather quiet part of the art market, reliable but somewhat disregarded.

You may remember Woody in one of the later Toy Story movies. Silver, like Woody, is proving that you should never write off something just because it isn’t quite as shiny and new as it used to be. It may well prove to be your best bet as a long-term friend.

It is undoubtedly true that some areas have been stagnant. Life-style changes make it unlikely that we are going to see a revival in the taking of tea from an early 20th century silver tea set, or the use of peppers and sugar casters. However, that only paints a partial picture because nothing is ever completely one-dimensional.

I kilo silver bar.

An article in The Antiques Trade Gazette neatly summarised the situation thus:-

‘The increase in bullion prices can influence antique silver prices in several ways. It can make owning silver appear more attractive as an investment, it can create a sense of urgency among collectors and enthusiasts as prices rise and lastly it can raise awareness of the craftsmanship, beauty, and historical significance of antique silver over other tangible assets.’

There has been much made of the increase in precious metal prices over the last few years. The price of these precious metals is usually tagged to global financial and political stability. The turbulence of recent years has seen a huge increase in the price of some metals, particularly gold. However, this should be counterposed against a reduction in the price of other precious metals notably platinum and palladium. This is largely due to the decline in use of these metals, along with rhodium. These are collectively known as the platinum group metals – PGMs. Car manufacturers have turned to battery powered electric vehicles which do not need PGMs in catalytic convertors causing a downturn in demand, and consequently the raw metal price. For many years platinum prices tracked or surpassed the price of 18 carat gold; at present both platinum and palladium are worth less per gram than 9 carat gold.

A 1962 silver owl mustard pot on sale for £2250.

How does this affect silver?

In September 2019 silver was trading at about £15 per ounce, and by August 2020 it was over £21.60, and as of today it is trading at £23.28. There is much speculation that the price of silver has a long way to rise. Unlike the PGM group metals silver is still widely used in industry, in medical technology, cameras and in the electronics sector in the manufacture of machinery requiring electrical contacts such circuit boards and semi-conductors. What, you may well ask, has this to do with the valuation of domestic silver?

As one silver dealer put it to me recently, much domestic silver is now scrapped to be used to make 1 kilogram bars of silver which are sold to ‘stackers’. These are people who believe that the price of silver will soar when the increasing global demand far outstrips the annual output. What is far more optimistic is a flourishing of rare, novel, ancient, esoteric and unusual pieces. This has seen some stunning prices at auction recently including a set of rare Scottish late 17th century provincial trefid spoons which sold for £13,000 , against an estimate of £3,000 – £5,000, and a stunning George III candelabra centrepiece which made £44,000 at Dawsons last month. This piece had been found in a suitcase under a bed where it had lived for the last 45 years. This is particularly relevant as the auction house revealed that the last insurance valuation has been conducted in 1987. Dawson’s research had partnered it with a similar pair of four branch candelabra sold by Sotheby’s in October 2022. This undoubtedly helped the piece achieve over twice the higher end of the estimate.

Thus, you have high prices because of the inherently high price of silver at the moment, offsetting the lack of interest in some areas of domestic silver; coupled with even higher prices for anything that is a little out of the ordinary or even very splendid as above.

In terms of making sure that insurance values are pegged to the current market, it is worth considering whether good pieces are adequately insured and whether more modest silver may be over-insured. Perhaps some pieces might be better sold if they are only gathering dust in drawers and cupboards rather than being used and enjoyed.

Whatever you decide to do with your silver it is always worth ensuring that you have the best up to date information to help you make informed choices that are right for you and your family.

An American novelty stamp box for sale at Peter Cameron for £425