Category Archives: Jenny Knott News

Silver's time to shine

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

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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.

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

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

an image of 3 oympic medals in bronze, silver and gold from Paris 2024.

Olympic Medals

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

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

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

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

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

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

Sir Steve Redgrave with his five gold medals from 5 consecutive Olympic games.

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

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

 

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

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

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

 

Read more on the history and memorabilia surrounding the Olympics.

Read more articles by Jenny Knott.

Easter Eggs

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After extensive, but not wholly onerous research, I have found that the must have luxury chocolate Easter egg for 2024 is the Grande Easter Egg from Betty’s in Yorkshire. Your £375 will allow you to acquire over five kilos of Grand Cru Swiss chocolate made from Venezuelan criollo cocoa beans. Your egg will be applied with iced Spring flowers including narcissi, primroses, pansies and lily of the valley all with hand piped stems. Betty’s have been producing these hand crafted edible masterpieces for over a hundred years.

However, the history of eggs at Easter goes back many centuries. In the 1290 household accounts of Edward I ‘one shilling and sixpence for the decoration and distribution of pace eggs.’ ( Pace being a dialectical term for pashe or pascal.) These were hens’ eggs which had been dyed or coloured and were distributed to members of the Royal household. These eggs would have been wrapped in onion skins and then boiled, when the onion skin was removed the eggs looked as though they had a mottled gilding. The Scandinavians had a similar tradition also using flowers and leaves to produce a pattern.

Throughout Europe eggs were dyed and painted; and eggs were in plentiful supply. Although Shrove Tuesday saw the using up of eggs to make pancakes prior to Lent, no-one told the chickens that eggs were off the menu for the next forty days, so they continued to produce them, resulting in a glut of eggs by Easter. Throughout Europe and beyond the decorating and distributing of eggs has been part of Easter celebrations for hundreds of years.

The White House has a traditional Easter Egg Roll. In 1878 the President Rutherford B Hayes allowed the White House Grounds to be opened on Easter Monday and children were allowed to bring along Easter eggs and roll them on the lawn with a long handled spoon. Today it is a huge event and children can enter a public ballot to attend.

The ultimate Easter egg tradition is that of the Fabergé eggs. Jewelled eggs had been gifted at Easter before 1885. However, Grand Duke Vladimir Alexandrovich, brother to Tsar Alexander III suggested that Peter Carl Fabergé be commissioned to create a Royal egg. The egg, known as the ‘Hen Egg’ was given to the Tsarina, who was thrilled with it. It opened to reveal a golden hen sitting on golden straw and inside the hen was a replica of the Imperial Crown and a ruby pendant. Fabergé had triumphed and Alexander named him ‘goldsmith by special appointment to the Imperial Crown’, placing an order for another egg the following year. The eggs became more ornate and elaborate year after year. The designs did not have to have Royal approval, the only prerequisites were that each should be unique and contain a surprise. The eggs made for the Russian Royal family are known as the Imperial eggs.

A few notable figures, including the Rothschilds commissioned eggs of their own, but these were not numerous. The revolution in 1918, inevitably saw an end to this tradition, although Fabergé in its more recent incarnation still produces egg themed jewellery. Should you wish to purchase your own Fabergé egg pendant this Easter, the 18 carat gold, diamond and enamel Palais Tsarkoye Selo turquoise egg containing an enamel and diamond locket, can be yours for £12,000.

The popularity of gold and silver eggs with novelty surprises may have begun with Fabergé but has been taken up by others. In the 1960’s and 70’s the English silversmith Stuart Devlin acquired a large following for his eggs. They are still popular today and one sold at auction recently with Dreweatts at a hammer price of £1,100.

A longchain suspending numerous French, Austrian and Hungarian egg pendants sold in 2022, as seen in the adjacent images. The finesse of the manufacture, the frequent use of colourful guilloché enamel and the cute novelty surprises inside, helped Bonhams reach a hammer price of £28,000.

If this all seem a little overwhelming perhaps it’s time to consider the more modest Cadbury’s creme egg. Initially sold as the Frys’s creme egg, it became part of the Cadbury family in 1971. They are still only available from New Year’s Day until Easter Sunday and in recent YouGov poll they were ranked as the UK’s most famous confectionery.

We hope that the Easter bunny will bring you your egg of choice and Doerr Dallas wishes you a very happy Easter.

Rubies

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Ruby is the birthstone for July

The name comes from the Latin ‘ruber’ meaning red. It is seen as a symbol of love and commitment. In Asia particularly, it is associated with luck, passion and power.

Burmese warriors had rubies set into their armour, as they believed they would offer them protection in battle. Some even had rubies embedded in their flesh for added security.

Rubies, like sapphires, are a form of corundum – the name for aluminium oxide. Unlike sapphires, which come in an array of colours, rubies are always red, and the colour derives from chromium in their chemical make-up. Shades vary from the ultra desirable, but challengingly named, pigeon’s blood ruby to much pinker varieties.

Historically, the most sought after rubies came from Burma (now Myanmar). However, nowadays Mozambique has become one of the largest suppliers of new rubies into the market.

After diamonds, rubies are the hardest of all gemstones and also the most expensive coloured gemstone.

Until recently, ‘The Sunrise Ruby’, which formed the centrepiece of a sensational ruby and diamond ring by Cartier, was the most expensive ruby in the world and the most expensive coloured stone. However, on 8th June 2023 Sotheby’s sold the world’s largest Mozambiquan ruby, which weighs 55.22 carats. It made a world record-breaking $34.8 million, thus becoming the largest and most valuable ruby ever to sell at auction.

The ruby and diamond necklace worn by Julia Roberts in the film Pretty Woman, was said to be worth about $750,000 shortly after the movie was made 30 years ago. The price of rubies has soared since then. Imagine what it might be worth today.

What to wear for Wimbledon

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For Ascot it’s all about hats, at Henley it’s blazers, but what to wear for Wimbledon…?

Let’s start with jewellery and what more fitting piece than a tennis bracelet. One of the most sought after easily worn pieces in any capsule jewellery collection and beyond, this now ubiquitous item came to prominence in 1987 when, during a match in the U.S. Open, Chris Evert ‘lost’ her diamond bracelet when the clasp broke. Play was suspended so that it could be retrieved, which it was.

She later said “When I competed, I wanted to wear something that gave me confidence and empowered me, both as a woman and an athlete. My tennis bracelet added a personal element to my style on the court and served as a daily reminder that I can do and be anything.” Who wouldn’t want some of that?

This style of line bracelet has been popular since the Art Deco period, but it was Chris Evert that brought it to such wide prominence and caused the change of name.

You’ll also be needing a stylish watch and there is a plethora of choices endorsed by tennis stars. Roger Federer became a brand ambassador for Rolex in 2006 with what was, at the time the largest single endorsement for any professional athlete. He was contracted to Rolex for 10 years for which he received $15,000,000. Others now in the Rolex stable are Dominic Thiem for the Daytona; Garbiñe Muguruza with the DateJust and Jo-Wilfred Tsonga with the Milgauss. If you want to dress the part but favour other brands, Nadal wears a Richard Mille and Serena Williams an Audemars Piguet diamond outrage.

Perhaps you will fancy something unique and eye catching to adorn your outfit, you might look at vintage novelty tennis related items. These two tennis racket brooches were sold at auction and the ruby and diamond brooch is Edwardian and set with ruby, pearls and rose diamonds.

Last year Ralph Lauren unveiled new uniforms for the court officials. The instantly recognisable polo shirt is now produced in wide navy blue and white stripes and they stated that they were combining the heritage of the brand with sustainable modern fabrics and modern silhouettes.

As for the outfit itself no-one does Wimbledon better than The Princess of Wales. As Patron of the All England Club and a keen tennis player herself, she often attends the championships and well as presenting the trophies.

In 2022 she chose polka dots by Alessandra Rich and a bright yellow dress by Roskanda. If you wish to emulate her style, similar dresses are available by these designers at about £1,400 each.

Whatever your style choice and however you enjoy watching Wimbledon, we hope you enjoy the championships and regardless of your outfit, the event is definitely best served up with Pimm’s; and strawberries and cream.

Caring for Silver

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Six simple rules to keep your silver in top condition

Rule one

Caring for your silver starts with understanding a little about the properties of silver. Sterling silver is 92.5% silver and therefore only 7.5% alloy. Compare this with 9 carat gold which is 37.5% gold and 72.5% alloy, or even 18 carat gold which is 75% gold. Silver, therefore, which is not an inherently hard metal, is extremely vulnerable to scratching. According to the Mohs scale which measures the hardness of materials; in order of softness, you have sterling silver, 9 carat gold, 18 carat gold, platinum and palladium. Rule number one is therefore to avoid cleaning with anything even slightly abrasive. I prefer pastes and foams which you apply with warm water.

Rule two

Given that silver is a soft metal, you also need to be careful not to bend it or make it vulnerable to dents. For example, it is common to see legs of sauce boats pushed in. Splits can also occur around the edges of pieces so rule number two is to always handle your silver ware with care, remembering that the lighter and thinner it is the more vulnerable it will be to damage.

Rule three

Can you put silver in the dishwasher? I would say that the answer is yes. However, rule number three – do not load silver and stainless steel in the same compartment or where they might touch. This will lead to oxidation and oxidation is what causes silver to tarnish or blacken. For those who think I am a philistine to suggest that it is acceptable to wash silver in the dish washer I would say this – the method of dish washing is no more likely to damage the silver than washing by hand. Drying silver is as likely, if not more so, to remove some of the silver and cause rubbing. If you’ve ever noticed that hallmarks have become obscure and difficult to read this is because polishing or cleaning has worn down the surface.

Whilst we are on the subject of dish washers, if you have bone handled knives, do not put them in the dishwasher. They will dry out, crack and the pitch that holds the blades in place my seep out. Knives should always be washed by hand.

Rule four

Oxidisation is the principal cause of tarnishing, so rule number four is to adhere to following suggestions to minimise the chances of your silver tarnishing. The less you have to polish it, the less likely that you will be rubbing away the silver itself. The first suggestion is use your silver. Most silverware will be cleaned after using and frequent light cleaning will be much kinder on your silver than trying to remove heavy tarnish.

If you do need to store your silver, store in a dry place away from high temperatures. Both heat and humidity accelerate the rate at which silver tarnishes. If you are storing flatware, use special tarnish reducing storage bags or for bulkier items, acid free tissue paper. Do not use newspaper as the ink is acidic and can cause damage. The same goes for rubber bands. Tempting though it may be to bundle items together, rubber bands contain sulphur which causes rapid and destructive tarnishing.

Do not store silver in plastic bags as they can retain moisture. Finally, you now have a use for those little silica gel sachets which seem to come with so many purchases – pop these in with your silver and they will help absorb moisture. Incidentally oils, onions, eggs, salad dressings all contain ingredients which will accelerate the speed of tarnishing, so if you do use silver with these products wash them quickly afterwards and dry them. You may have noticed that egg spoons often have gilded bowls, this is because gold does not tarnish in the same way and it is there to protect the silver.

Rule five

You may also have observed that silver salts usually have glass liners or are gilded. Salt corrodes silver. This is different from tarnish which can be fairly easily poshed off. Badly corroded silver might need to be taken to a professional to clean or replate. Therefore, rule number five clean your silver after use and do not leave salt sitting in your salt container. Salty snacks like peanuts and crisps will have the same effect. Even if the gilded of liner protects the base, it will often not protect the borders. And take the salt spoons out of the salts.

Rule six

Rule number six, use and enjoy your silver. Use impregnated soft cloths, foams and basic mild detergent and warm water to keep your silver sparkling; and finally, know that notwithstanding your best efforts silver will always tarnish, so employ the simple rules to keep this to a minimum.

The Crown Jewels for the Coronation

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On May 6th King Charles III will be crowned in Westminster Abbey. A tradition dating back nearly 1000 years since William the Conqueror who was crowned in 1066. Charles’s will be the 38th coronation in the Abbey, most, like Charles’s, having been conducted by the incumbent Archbishop of Canterbury.

We are expecting a simpler and more paired back coronation for King Charles, but this does not mean that it is going to be light on tradition and ceremony. This historic event will still be an occasion for spectacle and celebration.

It is a ceremony that has remained essentially the same for a thousand years and the Coronation Regalia are at the heart of proceedings, imbued as they are with cultural and spiritual significance. They represent the powers and responsibilities of the new King and the solemnity of the occasion.

The last time we saw some of the regalia of the coronation was on the late Queen’s coffin, which was adorned with the crown, orb and sceptre.

These three items will play an integral role at the heart of the coronation service, but they are not the only pieces that we will see on the day.

St Edward’s Crown is the crown historically used at the moment of coronation and worn by Her Majesty Queen Elizabeth at her coronation in 1953.

It was made for Charles II in 1661, as a replacement for the medieval crown which had been melted down in 1649 by Parliamentarians. Charles will wear this crown. The crown is 22 carat gold, so almost pure gold. It stands 30 cm tall and weighs an impressive 5lb. It contains tourmalines, white and yellow topaz, rubies, amethysts, sapphires, garnets, peridot, zircons, spinel and aquamarines. The three superstar gems in the crown are the Black Prince’s ruby, the Stuart sapphire and the Cullinan II diamond. No wonder Queen Elizabeth used to practise wearing it before the coronation, so its weight was not overwhelming on the day.

Camilla, the Queen Consort, will wear the Queen Mary’s Crown. This was removed from display at the Tower of London for modification work ahead of the coronation. It is the first time in recent history that an existing crown will be used for the coronation of a Consort. For previous coronations a new crown was commissioned. However, as a concession to the prevailing economic climate; sustainability and efficacy this crown, originally made by Garrards for the 1911 coronation, is being repurposed. Some minor changes and additions will be undertaken by the Crown Jeweller. These changes will pay particular tribute to the late Queen Elizabeth, as the Crown will be reset with the Cullinan III, IV and V diamonds. These diamonds were part of Queen Elizabeth II’s personal jewellery collection for many years and were often worn mounted in brooches.

At the heart of the ceremony itself are the sceptre, orb and the coronation anointing spoon. The Sovereign’s Sceptre and Cross symbolises the crown’s power and governance. It has been used at the coronation of every monarch since 1661. It was first used by King Henry VIII in 1509 for his own coronation. It is a golden rod, enamelled and set with multiple gemstones, the best known of which is the Cullinan I, or Star of Africa, a heart-shaped diamond weighing a colossal 530.2 carats.

In the photograph of Queen Elizabeth’s coronation you will see a second sceptre. This is the Sovereign’s sceptre with Dove. It is also known as the rod of Equity and Mercy and depicts an enamel dove wings outstretched alighting on the golden orb and cross. It represents the monarch’s spiritual role as head of the Church of England.

The most ancient piece of the coronation regalia is the coronation anointing spoon. The monarch is anointed with holy oil. The Chrism oil which will be used on May 6th has already been consecrated in Jerusalem. The oil itself comes from olives grown on the Mount of Olives and has been infused with sesame, rose, jasmine and other essential oils.

The spoon is silver gilt. Its existence was first recorded in 1349, but it may be even older. It is ornate with a central division and has been used to anoint monarchs for nearly seven hundred years. The central division may have been so that the archbishop might dip two fingers into the holy oil as he anoints the head, breast and hand of the new monarch.

It is traditional that the choir sings ‘Zadok the Priest’ during this sacred part of the ceremony; music originally composed by Handel for the coronation of King George II in 1727 and which has become an integral part of the proceedings.

The anointing is followed by dressing of the monarch in the spectacular robe of cloth of gold called the Supertunica and the long Imperial Mantle. The monarch is then presented with other items from the Coronation Regalia.

These include the gold spurs, the jewelled Sword of Offering and the Armills. The Armills are gold bracelets representing sincerity and wisdom. It is at this point that the monarch also receives the Sovereign’s Orb, as well as a ring and two sceptres.

The Orb is placed in the right hand of the monarch, during the investiture as the symbol of sovereignty. As a cross mounted on a globe, it represents the Christian world and the power of God. It is a reminder to the monarch that their authority is given by God. It is bisected with applied bands incorporating clusters of emeralds, rubies, sapphires and rose diamonds between bands of pearls. Having been handed to the King, it will be removed and placed on the altar before the moment of crowning.

The King will also be presented with the pair of golden spurs. These were first included amongst the regalia of the coronation in 1189 at the coronation of Richard the Lionheart. These represent his ‘knightly values and virtues’, such as protecting the poor, and defending the church. The current spurs are gold, made in 1661 for Charles1 and adapted in 1820 for George IV. In the past, the spurs were attached to the sovereign’s feet, but on May 6th they will be held at the ankle of the king.

The Sovereign’s ring will be placed on his fourth finger. The ring has the cross of St George at the centre formed from five rubies, overlaying an octagonal cut sapphire and bordered with fourteen old cushion cut diamonds. The ring was originally made by Royal Goldsmiths and Silversmiths Rundell, Bridge and Rundell for the coronation of William IV. It is said to be a symbol of ‘kingly dignity’.

The coronation sword, also known as The Jewelled Sword of Offering, will be presented by the archbishop, who first blesses the sword and then presents it with the direction that it should be used for the protection of the good and the punishment of evil. First used in 1821 by George IV, it has been used at all coronations since 1902. Like the Sovereign’s ring, the sword, made from blued steel, with a gold, jewel encrusted hilt and jewelled leather scabbard, was a commission from Rundell Bridge and Rundell.

The ceremony culminates with the placing of the St Edward’s Crown on the monarch’s head, the actual ‘coronation’.

The new King will change his crown for The Imperial State Crown as he leaves the Abbey. This is the crown that he will wear for future state occasions like the annual opening of Parliament. Although set in gold with 2,868 diamonds, 269 pearls, 17 sapphires, 11 emeralds and four rubies, it weighs a mere 2.3lb and is a more practical choice. It was worn by the Queen when she left Westminster Abbey in 1953. It was originally made for the coronation of her father, King George VI, in 1937.

Many of us grew up listening to older relatives tell tales of the Queen’s coronation. Televisions were purchased for the first time for the occasion, families huddled round radios to hear the ceremony live, and there is the enduring account of Queen Salote Tupou III who refused to be cowed by the rain and rode through London in an open topped carriage. No doubt King Charles’s coronation will be a different meld of old, new and unexpected acts of generosity and kindness. We can but wish for a day of joy and hope, amidst the tradition and ceremony.

Taking the financial sting out of stressful times

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Death and divorce are two of the most stressful events we will potentially deal with during our lifetime. Navigating either situation is distressing enough without having to deal with the complexities of the financial side as well. When it comes to establishing accurate valuations and future living costs, expert support comes into its own.

Here, our silver and jewellery consultant, Jenny Knott, speaks to the Founder and Managing Director of Pennywise Consultants, Alison Porter, about the synergy between our businesses and the importance of working together to support clients during these difficult and emotional life events.

It takes a village

Most of us are familiar with the saying that it takes a village to raise a child. The idea being that a community of people are required to provide a safe, healthy and nurturing environment where children can thrive. It is such a powerful message that Hillary Clinton adopted it for her book ‘It Takes a Village’.

Pennywise Consultants (experts in lifestyle budgeting for divorce and contentious probate) believe that ‘it takes a village …’ either to get divorced or make a claim under the Inheritance Act 1975. Doerr Dallas also subscribes to this view and we have therefore willingly partnered with Pennywise to ensure that our clients acquire accurate valuations and adequate insurance premiums, both of which are critical for their legal teams to achieve a successful outcome.

What kind of help is available?

As independent experts in financial lifestyle analysis, Pennywise specialises in the creation of impartial lifestyle and household budgets, working with clients to help them establish how much money they need to live their lives. This should never be based on best guesses. A strong, evidence-based schedule is the most successful way to demonstrate your case.

Put simply, if you need to know how much money you require to finance your personal life, as well as your children, pets and property, then Alison and her team are there for you.

For more than a decade, their niche service, analysing expenditure and income streams in divorce cases and Inheritance Act Disputes, has helped countless individuals to achieve fair financial settlements. As Alison says, “Economic fair play is our goal. Accuracy and impartiality are how we achieve it.”

How much is enough?

So, how much money do you need for the rest of your life?

It’s a big scary question, but when you are preparing to challenge how a lovedone’s estate has been divided up, or you’re uncoupling your finances during divorce, it’s crucially important to get it right.

Handing over a list of your expenditures can feel really unnerving, but the Pennywise team acts with the utmost discretion and professionalism. They are kind (but firm), providing the practical support that will help you achieve the fairest financial outcome from a position of strength.

Alison explains, “Whether applied to divorce or contentious probate cases, our Future Budget Estimates give solicitors an evidence based report that can be used in legal proceedings. They need to be robust and withstand cross-examination.

We’re meticulous when it comes to preparing a budget and we can back up every number. We’re also passionate about ensuring clients have a full understanding of their budget so they can face cross examination with confidence.”

“Many of our budgets have led to out of court settlements after being used as an effective mediatory tool so, more often than not, we save our clients some money too.”

Knowing the value

For our part, our Doerr Dallas colleagues are here to ensure you have your possessions and property valued correctly. While most clients are alert to changes in property prices, the fluctuations in valuations of personal belongings may not be front of mind.

Having an up-to-date valuation of your Patek Philippe Nautilus or Hermes Kelly bag is vital, given that it is a legal obligation to disclose the true value of any chattel over £500 in case of a divorce.

It is also crucial, that your less obvious chattels are correctly valued. Many of our clients can find that they are overpaying insurance premiums on certain pictures and items of furniture and vastly underpaying on others. It would be a mistake to think you can import old valuation figures into the arena of divorce or contentious probate and assume this is an accurate assessment.

The problem of undervaluing is familiar to Alison too. “Clients frequently under-estimate the value of their possessions, usually due to lack of knowledge, but sometimes intentionally,” says Alison. “In either case, when they provide an insurance quotation, we need to be sure it is reliable.

We therefore find Doerr Dallas Valuations invaluable when securing quotations both for insurance premiums and security.”

Handbags

The Hermes Birkin 25 bag retails around £7,800 RRP, but sadly you can’t buy one from Hermes, unless you are a regular customer with a long-standing relationship with Hermes. So therefore, you would need to go to the secondary market to find one. However, you can’t buy one for under £25,000.

A good example of when things go the other way are brands, such a Michael Kors, Longchamp – even Versace in some cases!

Watches

The Rolex – Daytona has been around for over 50 years but still looks amazing and people want it more than ever… the base model of the newer incarnations should retail around £12,500 – but again they are difficult to find unless you have a good relationship with your watch retailer, so the secondary market is the only place to go and they will set you back £25,000-£30,000 on average.

Watches that don’t hold their value are certain fashion items, or anything by TAG Heuer. Whilst they present a pretty good buy at usually under £5,000 for a good useable watch, the secondary market sees them plummet to some times in the hundreds, as they just don’t command the respect of the premium brand.

Your trusted team

We are delighted to work with Pennywise knowing that they are trusted by top law firms, often working with high and ultra-high net worth individuals with complex needs, encompassing international lifestyles.

Both Alison’s team and ours at Doerr Dallas will provide impartial, professional valuations and guidance. In addition, we will do our utmost to help clients navigate through what can seem overwhelming, and we will do it with kindness and courtesy.

Silver at Christmas

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Meet the jewellery team – Aurélia & Jenny

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Profile – Aurélia Turrall

Jewellery Specialist

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

Experience

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

About

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

Spot-light

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

Covering

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

Profile – Jenny Knott

Silver & Jewellery Specialist

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

Experience

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

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

About

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

Spot-light

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

Covering

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