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Mary Waterfall, Jewellery Specialist

The luxury brand synonymous with style, power, boldness, vivacity and colour. As with most high end jewellers the story of Bvlgari is steeped in history.
It was founded in 1885 by Sotirios Boulgaris, a Greek Silversmith who relocated to Italy in 1881. He changed his name to Bulgari, which became Bvlgari in line with the classical Italian alphabet using a V in place of U.
Over the years the Bvlgari family have encapsulated the glamourous passionate Italian spirit in their jewellery design. They have produced magnificent pieces for royalty, the rich and the famous, truly embracing ‘The Dolce Vitta’
The Trombino ring is a classic example of this. Translated as ‘Little Trumpet’ the first was made in 1930 for Mrs Bvlgari. As you look at examples of this stunning ring you can almost hear a fanfare of trumpets serenading the central gem as it stands proud in a raised domed design complimented by pave set brilliant cut diamonds to the band and a line of graduated baguette cut diamonds. Both coloured gems and diamonds were used as the central stone, always of the finest quality and most spectacular colours. A real statement piece that has now become highly sought after and collectible at auction. One of the most famous examples being Elizabeth Taylor’s ‘Sugar Loaf’ sapphire and diamond Trombino ring which sold for $866,500 at auction in 2011.

I have not yet had the pleasure to appraise a Trombino ring, however one Bvlgari design I do regularly come across is the B.Zero1. This elegant, bold design is very accessible and has become one of Bvlgari’s most popular and successful collections. It was launched in 1999 and true to the company’s Italian heritage it was inspired by the architecture of Rome’s Colosseum. The ring is designed as a flat core band composed of one to five spiral lines that are sandwiched between two flat rings engraved with the brands logo. It is made using the Tubogas technique, which creates flexible bands without the use of solder. It is a stylish, simple comfortable collection that has been adapted over the years to create variety, incorporating different metals, ceramics and gemstones.

The B stands for Bulgari and the Zero1 marks it as the first design of the second millennium. The collection also includes pendants, bangles and earrings and it continues to thrive and evolve. The latest evolution is the Bzero1 Rock which is described by the company as an ‘unapologetic rulebreaker’ with its studded core.

The continued strength and popularity of the collection means prices continue to rise. The current price for a ring purchased in 2005 would be significantly higher that the price originally paid. Is this reflected in your current valuations? An example is this Bzero1 18ct white gold four band ring, pave set with diamonds which currently retails for £9,800. Is this value reflected in your insurance documentation?

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Mary Waterfall, Jewellery Specialist

The Brief: My Great Aunt Winnie has kindly gifted me £5K in her will. However she has also specified that I must spend it on something within my field of expertise, something that I believe will increase in value over the next five to ten years.
The Options:
1) Gold
My immediate thought is that I would invest it in gold. The gold price does fluctuate but over a long period of time it usually increases. As I write this, in the final months of 2020, the gold price is quite high. One of the reasons for this is because of the uncertainty in the stock market due to the COVID 19 pandemic, traditionally when share prices go down, the gold price goes up. My plan would therefore be to wait until the markets stabilise, which could take a year or two, to ensure I’m not buying gold at a price peak time. I would then go to auction and buy gold in the form of Sovereigns, chains etc., put it all in a safe for five to ten years, keep an eye on the markets and look for an opportune time to sell and hopefully profit on the investment. I wouldn’t sell at auction though because I would have to pay commission for the privilege. I would go to a jewellers/dealers who buys gold. Then tend to give you a better price per gram the greater quantity you have.
However, that all sounds very good but I wouldn’t get much enjoyment out of that experience. I don’t really wear plain gold jewellery so it would just be locked away and not looked at. Wouldn’t my Great Aunt Winnie prefer me to buy something I would actually wear and love? So my next thought is:
2) Vintage Designer Jewellery
Historically the vintage jewellery of certain brands, such as Cartier and Van Cleef & Arpels, can hold and increase in value. Pieces made in the early to mid-twentieth century can be very desirable and sought after. Clearly it’s a piece by piece case and does not apply to all jewellery made at this time. The ‘rule’ doesn’t necessarily apply to more modern designer jewellery such as the Cartier Love bangle. If you do an auction house online search for these bangles you will see many examples come up. The market is pretty flooded with them at the moment and some of them are the amazingly impressive fakes that are coming out of Dubai, some of which are hard to tell from a genuine bangle if you don’t know what you are looking for.

Fake Cartier Love Bangle

There is also a bit of a myth that if the jewellery is ‘old’ it will naturally increase in value. Again it depends on the piece but generally this is not the case. I was recently asked to value a diamond bangle that had been marketed as ‘Georgian’ and ‘very rare’. However in reality it was a modern piece manufactured in India and was not as valuable as originally thought.
So I know I need to have my wits about me if purchasing at auction. Another question is will I actually find such a piece that is £5k or under because such items can command high prices.
There are a lot of beautiful brooches out there, which were highly fashionable at the time but not so nowadays. I may be tempted by something like these earrings.

Cartier earrings c1970

They are by Cartier, circa 1970 and sold for £3800 plus buyers premium. They are beautifully made, signed and numbered by Cartier and I would wear and enjoy them. However I may also be tempted to extend my search and try and find something within my price range that was made by Cartier slightly earlier.
Conclusion
I think there is more certainty of a profit in strategy one but more fun and enjoyment in strategy two. Which would you choose?
 

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Mary Waterfall, Jewellery Specialist

An Unusual and Memorable Valuation
One of the most exciting facets of my profession is that I never know what I am going to see. When I embark on a valuation I usually have a list of the items I am going to appraise, such as: five gem set rings, three diamond necklaces, six bracelets etc… However those three necklaces could include anything from a dramatic 19^th century two row festoon, to a delicate Art Nouveau floriate pendant or a dazzling modern diamond single stone collet.
On this particular valuation day there were a number of brooches on the list. Brooches have unfortunately fallen from fashion these days and are not worn as much as they were last century. Therefore many of these beautiful jewellery examples are locked away in safes, or kept concealed in bedside cabinets and only get to see the light of day when being appraised by the likes of me. I actually feel quite privileged to get to see them and hear the owner speak of their history and the long forgotten memories that their reappearance suddenly trigger.

Mauboussin, shrimp brooch

One of the most striking pieces I have seen of late was rather unusual, a rose quartz and diamond brooch crafted in the form of a shrimp. The beautifully carved rose quartz panel curved to form the body and connected to the golden head with dancing tentacles, brilliant cut diamond eyes and textured detail. With gold overlaying the body to form the ‘legs’ and terminating at the skilfully scalloped tail. It spanned 11cms to give you an idea of size, so certainly would not be missed when worn to adorn a lapel or dress top. I can imagine it would be a real conversation starter at many a soiree.

Mauboussin, shrimp brooch, side view

The makers mark on the brooch was Mauboussin, a French jewellery company who are famous for their Art Deco and Retro pieces. The company dates back to 1827, but it started gaining international recognition and acclaim in the 1920’s. It is definitely a brand to look out for, especially at auction and antique shops because, as with many of the great designers, the older pieces tend to be so flamboyant, interesting and unique, compared to the more modern, especially from the Deco and Retro era.
The Mauboussin brand remains strong, with boutiques all over the world. Although it doesn’t have a shop in the UK, it would definitely be a store to explore when we are able to travel and go on foreign adventures again.
The second hand replacement value of this shrimp brooch is £6600 and the memory of this valuation will live with me for a long time.