Why Relying on Old Valuations Could Cost You Thousands

Posted on July 17, 2025July 22, 2025 by Annabell Parry and Aurélia Turrall

The Case for Up-to-Date Jewellery Valuations in a Rapidly Shifting Market

Gold at an all-time high, diamonds in freefall, ruby values that look like telephone numbers. Welcome to jewellery valuations in 2025 as the jewellery market is moving and shifting at great speed and it can sometimes be difficult to keep up.

Which is why it is so important you have your appraisals up to date.

The global diamond jewellery market reached £46 billion in 2023, £49.3 billion in 2024 and is set to reach over £90 billion by 2032. Why the continuous rise? Let’s explore a few key areas impacting jewellery value and market trends.

It’s been an interesting year for everyone but for insurance teams that depends on accurate and dependable valuations, then it’s become increasingly vital to work with valuation specialists.

For a private client to ensure your values are up to date and you are not going to have a shock in the event of a claim, a valuation needs to be within the last 24 months.

Look at any jewellery auction across the country this year and every heavy gold piece will have early offers ahead of the auction. Small time gold buyers have sprung up all over the country and are making the most of the increasingly high gold bullion price.

Brick and mortar jewellers are reviewing their prices every three months and this week I received an email from a goldsmith who I regularly use stating;

“All gold prices are estimated at present, we advise that the final bill will be slightly amended due to the fluid nature of the gold price”. To qualify the need for this unusual statement, as I write pure Gold is trading at $2481 per troy ounce. It was $1805 per ounce 12 months ago.

Insurers and their clients need to be reviewing their policies, not just for gold.

Diamonds – What price difference are we talking about?

Comparatively, a De Beers ring set with a brilliant-cut diamond weighing 0.51 carat, G colour and VS1 clarity retails for £5,900. Pandora offers the same diamond, but lab-grown for £825. There’s no denying the price tag is attractive and not surprising that they are projected to represent 25% of the market by 2030.

Another shift is the confidence in online shopping and the rise of E-Commerce. Consumers will spend a great deal more without seeing the item than they did prior to Covid. A recent study showed that online jewellery sales had gone up by 30% during that period.

Art Deco Tutti Frutti bracelet by Cartier – This stunning bracelet came up for sale at Sotheby’s on 28th April 2020 over the course of a four-day sale, online only due to confinement restrictions. It sold for £1 million and set a world record for any jewel sold online and any jewel sold in 2020.

When reputation and trust precede a brand, clients will happily buy blindly. And that is what luxury brands are banking on and it’s working. There is a steady continuous increase in prices each year on the most popular items.

A pair of Tiffany & Co. Victoria diamond earrings have gone from £3,100 in 2003, to £4,925 in 2010, £8,775 in 2021 and up to its current value of £9,125.

There are no signs of slowing down for luxury brands. When it comes to branded pieces, such as De Beers or Tiffany & Co. it still seems to be a safe investment with return on investment definitely worth the waiting for. With values of signed pieces creeping up and diamond markets fluctuating as do the insurance values.

Rubies and sapphires have seen some big increases. If your clients’ purchased sizable gemstones in the 1960’s,70’s,80’s, 90’s ( before excessive treatments became the norm) then these gems are very attractive to the market. There are simply not enough to fill demand.

Interestingly there is far less demand for emeralds at present! But, that could change due to fashion or popularity (if the stars start wearing emeralds, we could see market changes)!

The big question over the next 18 months will be how to value diamonds? Natural diamonds that is.

It is now common knowledge that manufactured diamonds (also known as Lab grown diamonds) currently change hands for about 5-15% of their natural counterparts. If you would like to know a little more as to why this is do look back at some of the previous articles. Manufactured diamonds are here to stay and have found a home in the Bridal and costume jewellery market. This has sent the market for smaller, natural lower quality diamonds tumbling. Why have a lower quality smaller natural stone when you could have a fine colour and clarity manufactured earring set which you don’t mind losing on the beach!

However, the smart minds will be watching the bigger, higher quality natural stone prices. That is diamonds over 3ct, G/H colour and above with a good cut and proportions.

Why? Because these will be in smaller and smaller supply in the coming years – and we are already seeing the effect at the point of sale both on the high street and at auction.

American Tariffs, the Ukrainian / Russian conflict and the Israeli/ Palestinian conflict have interrupted the long-established routes for rough diamond via the cutting centres to the waiting consumer. This is a subject, in its own right, to explore in the future.

There are still plenty of diamonds to purchase in Europe. Despite Americans holding tight onto their precious stocks as increased tariffs mean they cannot competitively purchase at the moment.

The stock of the better-quality stones, so loved by high-net-worth clients, may well start to dry up due to the convulsing diamond industry and therefore those prices will rise. These thoughts have been recently reinforced following published comments from the London diamond Bourse and Diamnet Founder Howard Levine.

This is a defining period for the jewellery trade as rarity, real luxury, taste and craftsmanship will continue to be sought out. These rare pieces, newly purchased or family held, need to be valued effectively and not be confused and undervalued with the mass produced, lower quality pieces.

The need for a valuation – for clients who haven’t had their jewellery values in the last 24 months, they will see a difference in valued and could find any claim could be problematic without one. Applying generic inflation percentages as a tool to update valuations, would be incorrect and inevitably lead to jewellery being under or over insured.

Because jewellery is the product of so many moving parts, it is essential to revalue one’s jewellery collection on a regular basis. Prices may vary several times within a single calendar year and our recommendation would be to get an official jewellery valuation at least every other year. And while your specialist is there, make sure every clasp and setting of stones is checked. A lost stone has monetary value but, in most cases, the emotional attachment to the piece makes the gem priceless and irreplaceable.

Diamond Prices and Jewellery Insurance – The Truth Behind the Headlines

Posted on February 27, 2025July 24, 2025 by Annabell Parry

Anyone in the jewellery or related industries can’t open their laptop without being hit by another doom-laden headline about diamond prices.

The latest reports declare that Anglo American, the majority owner of De Beers, has published another vast write-down of its investment. Meanwhile, Alrosa, the Russian diamond giant, has been propped up by the Russian government. Both companies are reportedly stockpiling around $2 billion worth of unsold diamonds in an increasingly challenging global market, driven by geopolitical tensions and advancing technology.

These are mining giants, and the headlines are dramatic. However, it takes around two years for a diamond to move from the mine to the shop window. This is a crucial factor when valuing an engagement ring. Despite the headlines, these market shifts do not immediately affect valuations or replacement costs. Diamond prices fluctuate constantly, and experienced valuers rely on top trade sources such as RapNet. The best valuers consult at least three independent sources for each stone they assess.

A knowledgeable valuer will also understand the impact of Russian sanctions introduced in 2024, the conflict in the Middle East, and the downturn in Chinese middle-class spending. All of these factors influence diamond pricing and the ability to source replacements in case of loss.

The Danger of Headlines

Professional brokers, insurers, and jewellery owners are often short on time, scanning dozens of headlines each day. Decisions made solely on headlines risk being based on incomplete or misleading information. At worst, they could be influenced by an opinion piece paid for by a company with something to sell.

Diamonds hold a unique place in the retail market, as they have for centuries. Once reserved for royalty and the wealthiest elites, diamonds became a mainstream expectation by the 1950s, particularly as engagement rings for modern, independent women.

The Perception of Falling Prices

“But diamond prices are falling,” you may say.

Historically, younger buyers and the bridal market have been major consumers of small natural diamonds. However, over the past decade, their social feeds have been flooded with man-made diamonds (not ‘laboratory-grown’ which is a misnomer) and high-quality, stylish dress jewellery from brands like TJC and Pandora. The shift in pricing, environmental concerns, and changing consumer preferences have had a major impact on the lower-to-mid market.

It is true that diamonds under 1.50ct have seen price drops, in some cases by as much as 30%, as their key buyers have moved away.

Prices are per diamond for a round brilliant cut, F colour VS1 clarity GIA diamond Report in March of each year.

These are approximate selling prices in the UK at that time with the historic approximate retail margins and timely interest rates taken into consideration.

But Do Not Be Fooled

The high-net-worth market is thriving.

Diamonds over 2ct have always been beyond the reach of most buyers, making them the preferred size for professionals and affluent individuals. Second marriages, milestone anniversaries, or the sale of a business often drive purchases at this level. This is not the market that man-made diamonds have disrupted.

For high-net-worth and ultra-high-net-worth clients, jewellery values are not falling. Rubies bought in the 1990s, heirloom Art Deco and Cartier pieces, and upgraded engagement rings all hold their worth. In fact, many of my clients own multiple engagement rings, one for weekday wear and another for weekends.

Man-made diamonds are certainly purchased, but often as travel jewellery or gifts for daughters rather than as investment pieces.

A glance at recent fine jewellery auctions shows that branded vintage pieces from Cartier, Verdura, and Van Cleef & Arpels continue to command strong prices, along with larger, certified diamonds. These are not easily replaced and require an expert valuer to determine a proper replacement figure. Some brands such as Cartier and Tiffany increase their prices twice a year. On average the basic beautiful LOVE bangle from Cartier increases £300 every year.

New

Pragnalls Jewellers 1.51ct - £18,000	Pragnalls Jewellers 3.02ct - £74,650
Second Hand

Cartier yellow and white diamond cross over ring Wooley & Wallis auctioneers Estimate £4-6k Hammer £9.5k	Victorian antique cluster ring Harper Field Auctions Estimate £8,500 - £10,500, Hammer £28,500	1980's Cartier Panthere earrings $66,000 at Opulent Jewellers - USA

Additional Factors

Another important factor is the price of gold – the value of a 1 Troy Ounce of gold has increased 819% from 2000 – 2024, as displayed in this graph:

Pound / Dollar interest rates have fallen and retail margins have had to be pared back to compete with global and technological competition and wages for goldsmiths, polishers, cutters, apprentices, setters have in some cases tripled since 2000.

The Role of Professional Valuers

Valuing jewellery, like the value of a car, is a sum of its parts plus the brand, popularity, rarity and condition. One would not stop valuing cars because the price of steel had dipped. So too is the case for the valuation of diamond jewellery even when the markets are in flux.

Jewellery valuation is a specialised profession that does not always get the credit it deserves. It requires years, often decades, of expertise, and valuers do not typically shout about their knowledge.

But in a world flooded with misinformation and sensational headlines, their insight is more relevant than ever.

So, where do you get your information?

To arrange a jewellery valuation call us on 01883 722736 or [email protected]

Under the Tree: What our team are hoping for this Christmas

Posted on December 18, 2024December 18, 2024 by Rachel Doerr

We’ve asked our fabulous team of valuers and admin staff, what they would like to find under the christmas tree if money were no object. Find out what they picked below…

Rachel Doerr, Managing Director

“After a visit to Boodles in Knightsbridge, I couldn’t stop thinking about this Knot White Gold Diamond Ring – it really caught my eye. The design is just stunning, and the diamonds have such a gorgeous sparkle. It’s the kind of piece that feels timeless, and I’d love to find it under the tree. Another thing I’d be happy with is a pair of single-stone diamond earrings. They’re simple, classic, and would go with pretty much anything. And if I’m being really wishful, I’d also be thrilled with two black labrador puppies. They’d bring so much joy and energy to the house – definitely the best kind of Christmas surprise!”

David Dallas, Old Master Specialist

“I have taken this question rather literally! Dressing the Christmas tree with the children and now grandchildren is a seasonal tradition not only in the Dallas household, but almost everywhere in the Christian world.
Whenever I am in New York in December, I go to the Metropolitan Museum of Art, where there is a 20ft Christmas tree underneath which is grouped a nativity scene made of beautiful 18th Century Neapolitan Creche Figures and animals, which have been loaned by Loretta Howard and her family since 1957.
I’m not sure if one could ever find figures the quality of Loretta Howard’s, but even 19th Century Crib Figures can be in excess of £600 each, so they would cost a small fortune. Please be generous Santa!”

Alastair Meiklejon, Senior Valuer

‘When Christmas comes each year it is a time for not only giving presents, but writing cards and getting in touch with people that you may not have spoken to throughout the year – whilst modern times dictate that you can email, or message – there is still something special about receiving a letter from a loved one, and what better way to do it than with a Montblanc pen. Whilst many people look at the ultra valuable fountain pens that they are well known for – I would opt for the entry level roller ball. With all the style and class of the bigger relations, but with a fraction of the cost”

Ben Hanly, Impressionist, Post-War & Contemporary Art Specialist

Alas, what I really, really want under the tree this Christmas is not going to happen…
Although I am a picture man through and through, what people might not know, is that I adore antiquities and early sculpture…. I suppose as dark secrets go, it’s not that bad!
What I saw in an auction in November was a superb Khmer stone figure of a standing Goddess from Cambodia, dated to the 11th-12th AD – estimated at £5,000-8,000. I know this is not a small amount of money (it’s Christmas so who cares about reality!) – but the sculpture was amazing, and a perfect example of art from this period when the Cambodian civilisation was at its peak (anyone been to Angkor Wat?).
The sculpture is so simple and elegant, and the condition is excellent – discounting the missing arms and head! Unfortunately, I was not the only one with good taste – the work was bought by someone else with more money than myself for £8,000 plus fees. All I can hope for is that the buyer was in fact my wife who bought it as my surprise Christmas treat! Fingers crossed!

Jonathan Horwich, Modern & Contemporary Art Specialist

“I would like to see a watercolour or two by Eric Ravilious (British, 1903-1942) under the tree, his work is sublime and uniquely English, his skill with watercolour is second to none and he faithfully follows in the footsteps of the great Masters of 19th Century watercolour painting tradition such as JMW Turner – Around £80 to 120,000 for something like this…”

Jenny Knott, Silver & Jewellery Specialist

“I have always loved Christmas and all the traditions that go with it. When I first worked at Bonhams Knightsbridge fresh out of university and earned a pittance, I would cross the road to Harrods once a week and buy a single decoration from their Christmas shop. Since then, I have bought Christmas tree decorations from all over the world and clever Father Christmas has given my children a decoration every year since they were born, so that they now have enough to decorate Christmas trees of their own. I would love therefore to have another decoration to add to my collection, perhaps something from the Georg Jensen range, always stylish and classy. The Scandinavians really do know how to do Christmas. However, if I am really allowed to indulge myself, I would love a delicate Edwardian natural pearl and diamond necklace. Something that could be worn everyday or with evening dress. This would give me great joy, transcend the vagaries of passing fashion and be something to pass on to my daughter in due course. I’ll have to wait and see if I’ve been naughty or nice and what Father Christmas has in store for me!”

Annabell Parry, Jewellery Specialist

“They are a variation on the classic chandelier earrings but were popular in the 1800’s and often have rose cut, old mine cut and old European cut diamonds which were cut for candlelight and worn by beautiful wealthy women who had daytime and nighttime versions. Nowadays I would happily settle with a pair glittering in the winter evenings at a snug private dinner.
Surviving pairs of these earrings are rare as they were so decadent they have often been broken down during tough times. Therefore, because of their rarity, the value of a good pair is considerable so should any ever come up at auction there is always fierce international bidding and could be argued to be a savvy purchase and investment. I’ve sourced my ball gown, carriage and Prince just waiting for the finishing touch …..at a rough guess £80 – £100k”

Aurélia Turrall, Jewellery Specialist

“I’d like to find a diamond-set Trinity ring by Cartier. Cartier’s reputation needs no explaining. Their craftmanship remains unique, stylish and guarantees longevity. The Trinity ring is the perfect gift as it comprises the three gold colours, ready to suit any skin tone, and the diamonds add sparkle which is what Christmas is all about when it comes to the ladies’ gifts! It is ingenious of the brand to offer this ring in so many different options. The ring that I would like only has one band pavé-set with diamonds, and can be small or classic.”

Francesca Orme, Jewellery Specialist

“I would love to see a small wrapped parcel with a red box!!! And inside this striking incredible ring by Cartier. It’s not very old- 1970’s but I just love the design and how wearable it is! It makes a real statement but the fact that it’s made up of lots of small graduated pieces, with lapis lazuli floral top and diamond highlights, makes it delicate at the same time. £25,000- a steal!!!!

Richard Fattorini, Rare Books & Manuscripts, Historical Photographs and Maps Consultant Specialist

“Under the Christmas tree I’d be thrilled to discover a signed or inscribed copy of Ian Fleming’s novel Casino Royale which introduced the world to the now legendary British spy James Bond. The book was first published in 1953 with a dust-jacket devised by the author, and with a modest first print run of 4,728 copies. The book was an enormous success and Ian Fleming went on to write a further 13 novels in the series, which have sold more than 100 million copies to date. A first edition in a dust-jacket will cost from £10,000-30,000 depending on condition, and a signed or inscribed copy from £30,000-125,000 depending on the inscription.”

Stephanie Connell, Senior Valuer & Collectors Specialist

“If i were to find one special piece under the Christmas tree it would be a Cecil Beaton design for the stage production of ‘Coco’ starring Katherine Hepburn. These designs are a combination of three 20th century legends – Cecil Beaton was at the height of his powers as an artist and costume designer. The musical starred the all time leading multi Academy Award winning actress Katherine Hepburn as Coco Chanel. Chanel in turn is the most influential fashion designer of the 20th century! Bonhams recently sold a very good example created for the 1969 production which would be a very special gift.”

Liz Bailey, Jewellery, Silver & Watch Specialist

“I would just love to receive some vintage Elsa Peretti under the tree! This year has really shone a light on her wonderful designs in the fashion world, I have well and truly been ‘influenced,’ seeing celebrities such as Rosie Huntington-Whiteley stacking up their Peretti bone cuffs over simple and stylised outfits. I personally could see myself wearing one of her lovely vase pendants, a vintage one of course would be preferable but I would be thrilled with this one currently retailing at £4,100.
… If Santa is feeling flush this year, I would definitely love to add to my watch collection! A Jaeger-LeCoultre calibre 101 collection wristwatch would be a dream Christmas present! This 1970s example was set throughout with nine carats of baguette cut diamonds – the perfect blend of fine jewellery and watchmaking innovation – the 101 movement was created in 1929 and is renowned for being, still to this day, the world’s smallest mechanical movement ever made – weighing just one gram!

Fiona Hamilton, Silver Specialist

“Chinchillas normally cost between £80 and £200 and make excellent pets! Originating from the rocky slopes of The Andes they live together in large colonies, so cute!

Or I’d also love to see an Art Deco Day and Night ring from the 1920s, multiple rings in one! £3,315.51- 1st Dibs”

Ashley Crawford, Asian Art Specialist

“If I could receive any gift this holiday season, I would choose this terracotta figure of a court lady from the Tang Dynasty that I was fortunate enough to view in person at Sotheby’s New York during Asia Week this year. The Tang Dynasty has always been one of my favorite periods of Chinese history, not only from an art historical standpoint, but also because of the freedoms that court women enjoyed compared to in the surrounding dynasties. Terracotta sculptures of such women shed insight into their daily lives and interests, such as riding horses, playing music or dancing in women-only ensembles, or displaying the latest fashion trends. Tang court ladies are either portrayed as very thin or round, with the latter shown here in this 8th-century example. Her large zhuimaji (“falling off the horse”) hairstyle is modeled after the concubine Yang Guifei and is characteristic of the period, as are her long sleeves extending well beyond her hands.There is no shortage of Tang ladies in the Asian art market, meaning that unusual or high-quality examples perform significantly better at auction. This Tang lady is notable for her size, condition, and provenance.”

Jane Vann, Valuations & Private Client Services Administrator

“A few years ago, 2016 to be precise, Adele headlined on the Pyramid stage at Glastonbury. As always, her performance was exceptional in her typically down-to-earth way, complete with her ‘potty’ mouth as she calls it! But apart from her singing and language, another thing stood out for me – her bracelet! Her outfit that night was a lovely Boho style dress, complemented with this lovely bracelet that I had to Google to find out what it was, as I’d never seen one before! Since then, everyone is wearing them, including Queen Camilla, who can regularly be seen wearing her turquoise example! I’m quite sure that Queen Camilla’s will not be fake, which probably can’t be said for all the women and girls I see wearing them now! It is of course the Vintage Alhambra bracelet with 5 motifs.”

Kristin Panagiotou, Administration Manager

“As a massive Prince fan, I would love to receive a copy of the new book Prince: Icon. Prince: Icon is a photography book curated by Steve Parke, former art director at Paisley Park, and contributions from those close to him, with new and rarely seen images of the artist, from album covers, performances, candid snapshots and portraits to name a few. I was fortunate to attend a Prince concert when I was in high school and his music, art and creativity has continued to inspire me since then. This book would be a perfect addition to my Prince music and memorabilia collection. ”

Jenny Serra, Marketing Manager

“I am a big kid at heart and love the magic of Christmas each year. What I would really love is to visit Lapland and pretend for a few days that it’s all real – completely immerse myself in all the Christmassy goodness. I would visit Father Christmas, feed the reindeer, travel by sleigh, play in the snow and drink cocoa by a roaring fire. I can’t think of anything I’d enjoy more!”

Unveiling the Brilliance Lab-Grown Diamonds

Posted on March 5, 2024September 4, 2024 by Annabell Parry

When is a diamond not a diamond?

What do you call diamonds that are not formed underground but grown in a controlled environment that mimics the conditions under which natural diamonds develop? So, are they synthetic, lab-grown or factory grown or simply ‘diamonds’?

First of all, lets look at how you ‘grow’ those divine diamonds.

There are two popular ways to grow a diamond. Both involve starting with the ‘seed’ of another diamond. The first lab diamond was made in the 1960’s and the industry has changed massively in size and complexity in the intervening 65 years.

The growing of LGD’s is a little like the VHS and Betamax fight in the 1980’s. The first option is using a High Pressure High Temperature (HPHT) system, where the seed is then placed amidst some pure graphite carbon and exposed to temperatures of about 1,500C and pressurised to approximately 1.5 million pounds per square inch in a chamber. The alternative model to make diamonds is called Chemical Vapor Deposition (CVD). This was slower out of the starting blocks but the quality and size of diamonds produced using this method is arguably superior to HPHT.

This system involves putting the seed in a sealed chamber filled with carbon-rich gas and heating to around 800C. Under these conditions the gases begin to “stick” to the seed, growing a diamond carbon atom by atom.

No one knows quite yet who will win the fight like VHS did back in the day. Vast research development and investment is being put into both practises with neither side prepared to admit defeat yet.

LGD’s represent nature at its most perfect, at a fraction of the price of a natural diamond.

Retail

3ct G VS1 round brilliant cut LGD in 2021 – £16,500
3ct G VS1 round brilliant cut LGD in 2023 – £7,500
3ct G VS1 round brilliant cut certificated natural in 2021 – £55,000
3ct G VS1 round brilliant cut certificated natural in 2023 – £70,000

Some of the questions we are asked are ‘Are they real diamonds?’ and ‘Can you tell them apart from a natural diamond?’

The answer is yes to the first question. They test as a diamond (2.412 on a refractometer) visually and chemically identical to a natural diamond.

However, they can be told apart by those in the know.

Using LWUV and SWUV (long wave ultraviolet and short wave UV) the florescence of a factory made stone is an absolute giveaway. They often have a strong turquoise or purple colour that you never find in the natural world. The growth structure can also give away a man-made diamond because they were grown so quickly, the atomic structure does not have the same chance to settle into a classic framework.

The pricing of diamonds, whether natural or labgrown, depends on various factors such as carat weight, cut, colour, and clarity. While lab-grown diamonds are generally more affordable than their natural counterparts, the price difference is becoming more pronounced as technology advances and demand grows.

Natural diamonds are esteemed for their rarity, formed over millions of years deep within the Earth. Lab-grown diamonds, despite sharing the same physical and chemical properties, are sometimes perceived as less valuable due to their manufactured origin. Costs over the last two years has dropped in value of these stones while natural diamonds are keeping their value.

The latest findings propose that there is very little resale value for a LGD. Many auction houses will not take them and many of the large fine jewellery houses will not sell them including De Beers who set up their own LGD factory and company for their ‘Lightbox’ ranges. They stopped making engagement rings in 2022.

The marked retail price difference gives rise to the challenge in ensuring transparency and proper disclosure to the consumer. Some critics argue that buyers may not always be adequately informed about whether the diamond they are purchasing is natural or lab-grown.

Due to the price differential this could be a devastating find?

Did you know; if a diamond is marketed or sold or valued as a ‘diamond’, without a pre-fix such as lab-grown, synthetic etc, then it is assumed to be an earth grown natural diamond? All lab-grown diamonds of any shape or size must have a pre-fix to aid a consumer’s educated decision process.

During a recent valuation, a diamond ring was presented from a charming young man, who had purchased it to propose to his girlfriend. However, during our appraisal, Annabell had to give him the devastating news that it was not a natural diamond. He had purchased the stone for £38,000 when infact,the price should have been around £9,000– did the jewellers know it was lab grown?

This type of miss-selling has caused the potential for market confusion. Consumers might face challenges distinguishing between natural and lab-grown diamonds, impacting the perceived value of their purchases. So, it is important to buy your jewellery from a recognised jewellery company.

Having reviewed some of the challenges for LGDs verses natural diamonds, they are still hugely popular. In August 2023, LGD amounted to 50% of all diamonds purchased in America. Pandora, who are one of the world’s largest jewellery companies, uses LGD for many of their designs. Gems TV and ‘fashion jewellery’ brands are developing price sensitive ranges for LGDs and because of the size of the market and the lower margins being made, the producers are concentrating on melee size cut goods for watches and ‘halo’ rings and larger (2ct plus) ultra high quality diamonds, such as E & F colour VVS clarity.

So, are Lab-Grown Diamonds here to stay… the rise of lab-grown diamonds is indicative of a broader trend toward sustainable and ethical practices in the jewellery industry. While traditional diamonds maintain their allure and value, lab-grown diamonds are carving a niche for themselves, driven by consumer demand for more price sensitive choices. As technology continues to advance and consumers prioritise ethical considerations, lab-grown diamonds are likely to remain a significant player in the market. However, the coexistence of natural and lab-grown diamonds is expected, with each catering to different preferences and values. The issues associated with lab-grown diamonds against natural stones are multifaceted, touching upon perceived value, ethical considerations, disclosure, and market dynamics.

Will natural diamond values increase due to scarcity? Will women prefer to have a natural diamond on their finger rather than a lab-grown diamond or will price decide?

We wait and watch!

Coral…. Did you know?

Posted on August 22, 2023June 18, 2025 by Annabell Parry

There are six types of precious coral from deepest red to porcelain white and none are endangered.

Did you know that Mediterranean Rubrum coral is still dived for by hand by around 50 licenced divers at a depth of 50 metres? Japanese and Taiwanese coral is even deeper; at a depth of 80 metres to 300 metres and can only be harvested by a submersible with strict quotas.

It is reef and shallow water coral, such as golden and black coral, that are endangered. These are known as common coral and reside on the global CITES protection list.

Did you know that coral was used in Rome as early as 1500 BC? It has been used as amulets in the Catholic faith for centuries and revered in Buddhism. To this day it is an expression of status and wealth in Benin in Africa, Poland and Ukraine and it has been used as currency across the world.

In the Mediterranean, coral harvesting has been documented since the 15th century and its secrets and systems were passed down through each generation of a family. This industry was particularly buoyant at Torre Del Greco, a beautiful fishing village on the slopes of Vesuvius. Which for decades in the 1800’s saw almost every local family involved in the coral trade in some form from diving to forming the beads to selling the strings of coral. This development and success of the coral industry at Torre del Greco was arguably thanks to Ferdinand IV of Bourbon, who worked to regulate the fishing of coral from this area of Naples and protect local jobs. He recognised the huge demand for beautiful coral jewellery and religious accessories, the ownership of which was seen as a status symbol across Spain, Italy, Poland and Ukraine, which lasts to this day. Look through several Old Master paintings and you may well find coral pieces to denote protection and wealth.

Even good things come to an end and the Mediterranean monopoly on coral supply was to change in the 1870’s when a different species of coral, ‘Momo’ coral was discovered in Japan and later in Taiwan and Hawaii. These finds would open up coral appreciation to the world and the largest market for coral is now the Far Eastern market.

Collectors are starting to wake up to the beauty of coral that Cartier and Van Cleef and Arpels have been giving to their high net worth clients for over a century.

Precious coral, particularly antique and vintage pieces, are becoming very sought after and gaining good prices at European auctions. Keep an eye out for depth of colour and condition, and a smattering of diamonds is always nice too.

Did you know that the size of coral necklaces depend on the type and size of coral branch? Mediterranean coral can grow up to eight millimetres in diameter, however Midway coral from Hawaii up to 20 millimetres. Each piece of harvested coral from deep in the ocean is cleaned, divided and polished by hand into perfect beads, then matched into earrings and necklaces. It can take over a year to make a larger sized necklace.

There is a huge market in China and the Far East for the top quality Oxblood and Momo coral pieces. So much of the finest coral will make it’s way there and prices rival that of fine jade.

However, you may well have vintage pieces in your jewellery box and I strongly suggest you review their value. It may just surprise you.

Meet the jewellery team – Francesca & Annabell

Posted on December 14, 2022January 31, 2025 by Rachel Doerr

Profile – Francesca Valentini

Jewellery Specialist

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

Experience

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

Memberships

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

About

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

Spot-light

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

Covering

London
Greater London
East of England
South East & South West

Profile – Annabell Parry

Jewellery and Watches Specialist

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

Experience

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

Memberships

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

Professional Qualifications

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

About

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

Spot-light

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

Covering

East Midlands
West Midlands
Yorkshire
North East & North West

The one that got away…

Posted on July 26, 2022January 16, 2025 by Annabell Parry

Hindsight is a wonderful thing.

Back in 2005, I was newly married, London based and high on life. Money was tight, but we were cool. I’ve always loved poster art. Remember Athena? Later New York subway graffiti album cover art and band posters. Maybe because that’s all I could afford. At that time we read alternative magazines, went to all manner of clubs, listened to house music and drank Smirnoff ice.

However, the Country was also at war. Mobile phone and personal computers were becoming commonplace, and the traditional methods of communication and control were on the wane. There felt a real burgeoning of youthful expression against the ‘accepted norm’. Artists such as Faile, Eulus and Banksy, to name but a few, were hosting the odd show and having read an article on Banksy, an early Internet search took me to the now notorious and now defunct ‘Pictures on Walls’.

On their website was Banksy’s CND Soldiers and Jack and Jill. Signed copies were £156.50. I forget how much the unsigned copies were.

So, for my birthday we went all in and bought a signed Banksy CND soldiers. Limited Edition of 350. Arrived rolled up in a tube! It shows two soldiers in full combat gear surreptitiously painting a red CND sign on a wall. I loved it. It said everything about my views on the current war, the bold colours, glorious details and it was subversive in a very nice way!

We had it framed and it hung in our house, carefully shaded from sunlight for 10 years.

By 2016, I was a single mum of two boisterous boys whose parkour moves were practised upon all pieces of furniture and under the gaze of the, often wonky, CND soldiers. I had followed in the rise of Banksy and one day realised I really should insure it. An art broker friend suggested to have it insured for between £7,000 and £10,000. I was stunned. I simply did not have the money to insure the picture, coupled with the fact I needed a new kitchen.

So, with the help of my broker, a nice Belgian gentleman offered an astounding £14,000 (inc fees) and also offered to pay for packing and transport. I did offer it to the Andipa gallery in Knightsbridge, but they felt £7,000 was the most they would go to.

So, off my Banksy went to Belgium, as part of a pension pot, and I built a lovely kitchen. However, within a couple of years the same picture went for £32,000 at auction and now commands in the region of £50,000.

Yes, I am gutted I sold the picture, as it would be in my pension pot now. However, that piece of art gave a single mum the chance to have a new heart to her home. To feel good about having people over and to look to the future. The one that got away, yes, but left great memories, and sometimes that might be more worthwhile.

Pandemic Pearls – Biggest shock for Years?

Posted on March 29, 2022January 16, 2025 by Annabell Parry

Pearls – the gem that will go with everything, crosses the generations and decades. Safe, predictable, eternal. Is now the time to reassess their value?

Thanks to the Chinese market, there has been a growing production of quality fresh-water and saltwater pearls over the last decade. The downside of this monumental growth is that the market is arguably becoming saturated.

This is borne out in the price of pearls at auction. Japanese salt water Akoya, good Chinese fresh water and even small Tahitian pearls keep on under-performing and can be picked up for next to nothing.

This situation may be about to undergo a seismic change.

If I can cast your mind back to 2020, the world literally stopped. Not only the obvious things such as air travel and carefree shopping, but the thousands of ‘route to market’ supply lines. This included the people who support and make those supply lines run like clockwork – Normality went on hold.

Pearl Creation

The industry of Pearl farming and production walks a delicate tightrope between man and nature. There are many different types of pearl bearing molluscs, who have their own specific growth cycle, but to make a generalisation each pearl mollusc is either dived for by hand or is born, raised and seeded in stringently checked temperatures with the correct food, space and daylight. This process generally can take between 2-4 years of consistent care and attention – this was not possible during the pandemic.

During the global lockdowns, pearl growers, specialists, itinerant labourers and their vital support network all returned home. For the first time in decades, the seasonal flow of global pearl farming ground to a halt as there simply were not enough people to assure the continuity especially for South Sea, Tahitian and fine quality pearls.

Take the case of Paspaley in Northern Australia, a three generation pearl farming family who produce some of the most beautiful pearls in the world. They were so affected by the pandemic that they applied for and received a licence for specialised staff to continue working, but they were only allowed to work on boats moored offshore so there was no chance of Covid spreading. Even with this intervention their normal levels of production were curtailed.

This seismic shock to the usual farming life has caused a gap in the pearl production world and a shadow over future yields over the next few years.

Only time will tell what the quality and yield will be but it is understood by those in the know that it will take 2-3 years to get ‘back to normal’.

The basic economic principal of supply and demand may come to bear with reduced gem quality pearls coming to the market where the prices may harden and quite likely increase. Not only will this hopefully invigorate the auction pearl market but also remind pearl owner’s to have their pieces re-valued. Depending on how this industry is affected, Covid may have caused the pearls in your jewellery box to be very under-valued. A once predictable and safe commodity may have a trick in the tail and prove to be more valuable than they once were.