Daggers and Angels: Exploring Mughal Wonders at the Victoria and Albert Museum

Posted on February 6, 2025February 6, 2025 by Ashley Crawford

As an Islamic art enthusiast, I had the pleasure of recently visiting the exhibition The Great Mughals: Art, Architecture, and Opulence at the V&A. This exhibition focuses on the Golden Age of Mughal art, spanning the reigns of Akbar (1556-1605), Jahangir (1605-1627), and Shah Jahan (1628-1658). The arts flourished during these periods due to economic prosperity, religious tolerance, international trade and its resulting artistic influences, and an immense artistic production across media types. This was reflected in the wide range on display at the exhibition, including objects such as manuscript paintings, arms and armor, ceramics, tiles, and textiles. There were many wonderful items to choose from, but I will explore the topics of daggers and paintings with angels here, which were some personal favorites.

Mughal Daggers

The splendor of the Mughal Empire resulted in bountiful dazzling objects, especially gems and jewelry. Some of the most captivating gems on display at the exhibition were found in ornately decorated imperial daggers. Weapons from each reign had their own distinctive style. My favorite example from this exhibition was a Jahangir nephrite jade dagger with a hilt and scabbard (the sheath attached to the wearer’s belt), all set with emeralds, rubies, and a pearl set in gold.

There are several factors that make this Imperial dagger so noteworthy. Aside from the gems themselves, the size and quality of the nephrite jade would have made this dagger all the rarer, as jade was a coveted material in the 17^th-cetury Mughal Empire. The most delightful aspect, in my opinion, was the presence of neither the jade nor the gems, but rather of the delicate red ostriches made of rubies and stacked vertically, picturesquely framed by gold vines of emeralds and rubies. Ostriches were a further symbol of opulence and would have been brought from abroad to Jahangir’s court. While Imperial Mughal daggers are difficult to obtain on the market (such as this dagger owned by Shah Jahan, which sold for well over $3,000,000 in 2019), Mughal daggers and other weapons are frequently offered at auction at a wider range of price points. High-quality 17^th-century jade examples with gems have always performed strongly, such as here, here, and here.

In Jahangir-period paintings, daggers were reserved for use by the emperor and others with high rank. Similar daggers are frequently visible in miniature paintings of the various Mughal rulers. This exhibition provided many examples of emperors wearing such daggers on their belts (which are also ornately decorated with gems); one is even visible in the title image for this exhibition!

Angels

One of my other favorite objects from this exhibition was a painting depicting the angel Raphael. There is a common misconception that all religious Islamic art is aniconic. While this rule does apply to art in strictly religious settings, it does not apply to religious art produced by laypeople for lay settings, especially when used as a visual aid in manuscripts (you can learn more about iconic representation and religious art here). The Western term “Islamic art” itself may be a contributor to this confusion, as it serves as an umbrella term encompassing both religious and secular art. Angels are common subjects in Islamic art and appeared in several works in this exhibition. A common story featuring angels used in early Mughal paintings is that of Tobias and the angel Raphael. This story was the focus of the painting The Angel of Tobias by Husayn from the Mughal court workshops during Akbar’s reign around 1590-1600, which depicts the biblical encounter of the angel Raphael assisting Tobias in catching a fish. Raphael is shown here surrounded by colorful flowers and dressed in exquisitely decorated gold clothing. His wings are the most commanding feature, delicately painted in layers of blue, red, green, and black. Raphael is set against a plain beige background, enhancing the boldness of his clothing. The scene is framed with a pattern of gold scrolling leaves with flowers. Angel paintings of similar quality periodically appear in London auctions and perform well, including this example with very similar multicolored wings and this lot from a 2024 sale.

The Great Mughals: Art, Architecture, and Opulence exhibition in on display at the Victoria and Albert Museum through 5 May, 2025 and is definitely worth a visit for both Islamic art novices and seasoned collectors alike! The V&A is also home to impressive permanent collections of antique Islamic art, as well as the Jameel Prize for those interested in contemporary Islamic art.

The Perfect Jewellery Gift for Valentine’s Day: Iconic Pieces They’ll Love

Posted on February 5, 2025March 20, 2025 by Helen Doyle

Valentine’s Day is celebrated annually on 14th February and has a surprisingly complex and layered history, blending ancient Roman traditions with Christian beliefs and medieval romance.

By the Victorian era, Valentine’s Day became a widely celebrated occasion, with flowers becoming common traditions. Today, Valentine’s Day is a global holiday expressing love and affection through various gestures and celebrations. There are also variations of the holiday including Galentine’s when one can celebrate friendships.

However you choose to celebrate, there is no getting away from the fact that it is fast approaching. With that in mind I am here to provide you with some expert guidance on how to choose the best items of jewellery this Valentine’s, for the one you love.

Tiffany & Co.

Arguably the most romantic of jewellers in the world, we couldn’t write about Valentine’s Day without mentioning Tiffany & Co., particularly a Tiffany & Co. engagement ring.

In 1887, Charles Lewis Tiffany, founder of Tiffany and Co., acquired an exceptional fancy yellow diamond from a mine in South Africa and it is known as The Tiffany diamond. It has been displayed in various settings throughout its history, with its most notable appearance as a pendant on a diamond necklace worn by Audrey Hepburn during a promotion of Breakfast at Tiffany’s in 1961.

The diamond, originally weighing 287.42 carats in its rough form, was sent to Paris where Tiffany’s chief gemmologist, Dr. George Frederick Kunz, cut the fancy yellow diamond into a beautiful, brilliant cushion-cut. It was here where Tiffany’s remarkable association with exquisite diamonds began.

Nowadays Tiffany & Co. is known to produce the most iconic engagement rings in the world, with the most popular style being The Tiffany Setting, distinguished by its 6 prongs/claws. This arrangement elevates the diamond well above the band allowing maximum light to enter the stone from all angles, therefore enhancing the diamond’s natural brilliance and sparkle and minimizing the amount of metal covering the stone. It is also held on a simple plain band ensuring that the diamond remains the centrepiece. Sales of the Tiffany engagement ring equate for 26% of their total sales. This remarkable success can be attributed to the iconic status of the brand, particularly the legendary Tiffany Setting introduced in 1886.

The price of a Tiffany Setting ring ranges anywhere from a few thousand up to six figure sums depending on the quality of the diamond.

The 1.65ct diamond single stone ring above has an insurance value of £75,000

Cartier Love bracelet

Nothing says love like a Cartier love bracelet. Created in 1969 by Italian jewellery designer Aldo Cipullo for Cartier, the bracelet was born as a unisex ‘modern handcuff’ with Cartier making the radical decision to leave the functional or decorative screws visible.

Its oval shape means it sits tight around the wearer’s wrist, and its physically screwed on to signify the permanence of true love, since two people are needed to secure the screws. The Love bracelet has become a symbol of love and commitment due to this design.

Today the bracelet is just as popular and it is rumoured that New York hospitals keep mini Love screwdrivers on the wards, in case they need to remove the bracelet in an emergency.

Its longevity and success is down to the design, according to Pierre Rainero, Cartier’s director of image, style and heritage. “For me, the Love bracelet is a success worldwide since it was created because of a combination of many different dimensions – first design, and second, symbolism. The design is linked to its meaning, because the screw, is the meaning of the object and the symbolic value is immediately visible through the very simple idea,” he explains. “The Love bracelet has become a permanent staple in modern style.”

Nowadays, the Cartier Love bracelet is seen on the wrists of many famous celebrities, including the Duke and Duchess of Sussex sporting matching Love bracelets on the cover of TIME magazine in 2020, while Meghan has been spotted wearing hers on numerous occasions over the years.

This year Cartier have released a brand-new Love Bracelet with a width of 4.8mm it the medium size with a slimmer and thicker versions available. This new version has an insurance value of £5,850.

Van Cleef and Aprels Alhambra

The Van Cleef & Arpels Alhambra collection is seen as a symbol of enduring femininity, luck and love. It was in 1968 when the brand’s designers were captivated by the four-leaf clover motif and incorporating Art Deco influences, they created the iconic Alhambra pendant, with the initial design featuring a stylised quatrefoil shape set with mother-of-pearl.

It quickly gained popularity and over the years, the collection has expanded to encompass various interpretations of the Alhambra theme: bracelets, necklaces, earrings, rings and even watches, all adorned with gemstones and precious metals like mother-of-pearl, onyx, carnelian, turquoise, and diamonds.

De Beers Talisman

The De Beers Talisman collection is a line of fine jewellery that prominently features rough diamonds, highlighting their raw beauty by juxtaposing them with polished diamonds, creating a unique aesthetic that celebrates the natural, unrefined quality of rough stones, while still showcasing De Beers’ expertise in diamond cutting and setting.

The collection often utilises their “serti poinçon” technique to encapsulate the rough diamonds in the metal, giving them a distinct appearance.

The unisex collection is enjoyed by men and women.

Ruby

Rubies have been treasured throughout history for their beauty and symbolic meaning of passion, love, power, protection, and good luck. They feature prominently in royal crowns, ancient artifacts, and works of art. Fine rubies are gemstones prized for their vibrant red hue, intense brilliance, and enduring beauty.

They belong to the corundum mineral family, which also includes sapphires. Their mesmerizing red colour comes from trace amounts of chromium in their chemical structure. The most desirable rubies exhibit a vivid “pigeon’s blood” red – a rich, saturated hue with a hint of blue undertones. Other shades include purplish-red, orangish-red, and brownish-red, but the “pigeon’s blood” remains the rarest and most sought-after. It is the colour, clarity and origin which can contribute to a rubies value along with a lack of any lab treatment. Large fine natural examples with good colour can command very high prices.

Locations, like Myanmar (Burma), Madagascar, and Mozambique, are known for their exceptional quality.

No matter what gift you give or recieve this Valentine’s Day, ensure that you get it accurately valued for insurance purposes by calling us on 01883 722736 or emailing us on [email protected].

The year of the snake, or the year of Serpenti?

Posted on January 29, 2025March 20, 2025 by Liz Bailey

Bulgari’s Serpenti Watch Collection, its History and Value

Arguably one of Bulgari’s most iconic collections across both jewellery and watches, the Serpenti collection has been and continues to be a firm favourite, especially in the year of the snake! Seen adorning countless celebrities, from Elizabeth Taylor in the early days of the Serpenti watch, to Adele in the present day, who has been spotted wearing her yellow gold and diamond set Serpenti watch to basketball games, these timepieces are a wonderful blend between sculpture, design and watchmaking. With a new edition of Serpenti watches launched in January of this year, the Serpenti watches have had a hold over watch collectors for over 75 years.

The first Bulgari Serpenti collection was launched in 1948, created from the brand’s Tubogas technique patented in 1881– featuring gold or steel strips wrapped around a core. This simple yet effective design was the unassuming starting point for the breathtakingly detailed creations that were to follow.

It was in the 1960s that the Bulgari Serpenti watch gained its scales and cult status. Featuring individually applied enamel and gemstone hexagonal scales to each Serpenti watch and movements hidden within the mouth of each snake, Bulgari created wearable sculptures that were frequently seen gracing film stars and Vogue magazine covers. Although prevalent in mainstream media, fewer than 100 of these early Serpenti bracelet watches were created, and the variety in their designs, dials and movements is remarkable.

We would recommend an insurance valuation in the region of £150,000-175,000 each for the above pieces.

Bulgari did not just use neutral, earth tones for its 1960s Serpenti bracelet watches. Bright enamelled creations in pink, green, blue, yellow, red and cream were created in this creative and colourful decade.

More complex a creation still are the gem-set Serpenti watches. Incredibly rare and sought after by collectors, examples set with turquoise, tiger’s eye, lapis lazuli and even onyx scales were meticulously created. One such example is currently available to purchase on 1^st Dibs for £542,000. Set throughout with individual coral cabochon scales and accented with pear cut ruby eyes, this piece is adorned with a Jaeger Le-Coultre movement. This particular piece was exhibited at the Houston Museum of Natural Science as part of the Bulgari: 130 Years of Masterpieces, Houston, Texas, May 2 – October 5, 2014.

1970s and 80s Serpenti Watches

Having previously collaborated with esteemed watchmakers such as Jaeger-LeCoultre, Vacheron Constantin, and later Movado in creating the tiny movements for these snake bracelet watches, Bulgari began to produce its own movements from around 1978 onwards, and this decade marked a return to the its Tubogas roots, with comparatively slimmed down designs of snakes that wrapped twice or three times around the wearer’s wrist.

The Modern Day Serpenti Watch

In 2009, Bulgari marked its 125^th anniversary by reintroducing the Serpenti in a new, more geometric form. This more contemporary look aligned with Bulgari’s Serpenti jewellery line and continues to feature in the brand’s most current collections.

The most recent iterations of the Serpenti watch were launched on 21^st January 2025. For the first time ever, Serpenti watches with in-house BVS100 automatic movements are available to purchase. Designed with an exhibition case back to highlight the movement, these watches will retail anywhere from $10,200 for a steel model, all the way to $52,000 for a rose gold Serpenti, and €139,000 for the diamond-set Serpenti Seduttori. These will be available to purchase in the UK from April.

Valuations of Bulgari Serpenti Watches

Bulgari’s current Serpenti collection of watches to purchase in the UK currently are retailing between £4,920 and £83,000 at the time of writing. As seen above, the sculptural snake creations from the 1960s hold the most value owing to their rarity, the sheer craftsmanship involved and of course their place in design history. With the ongoing innovation and sartorial appetite for these iconic watches continuing to flourish, we would expect subsequent values to increase, particularly for earlier models and limited references.

A little light on the diamond markets

Posted on January 29, 2025March 20, 2025 by Aurélia Turrall

The price of diamonds is said to be tumbling and crashing with major players such as De Beers even cancelling sight holdings over the summer due to poor demand. And yet… When I scroll through the big brands, all I see are numbers going up, up and up! So, let’s not panic too quickly and think that all our investments – that is if you’re lucky enough to have been able to invest in jewellery, watches and diamonds – are all collapsing and you’ve lost everything.

The main issue here, and seems to be across the board, is a form of misinformation. The media is quick to react to market trends but doesn’t take into consideration other factors that apply when jewellery is made and then sold. To make a piece of jewellery one needs the raw material, diamonds and gold for example, along with workforce. The only factor in this equation which has dropped are indeed the diamonds. But all other costs keep climbing.

So why has the diamond market slowed down? Which market are we even talking about? Has the jewellery market slowed with the depreciation of diamond?

It does appear that both synthetic and natural diamond markets have weakened. With more companies offering the cheaper option to natural diamonds, it’s no wonder that the synthetic diamond market has plummeted, even with the best marketing. Giant De Beers had indeed noticed the trend would not pick up and decided, in June 2024, to close its synthetic diamond branch “LightBox lab-grown diamond”.

Lab-grown diamonds have almost become synonym of fashion jewellery and De Beers’ strategy was to give natural diamonds their spark back and focus on high-end diamond jewellery. Both markets have slowed, with the synthetic diamond market doing so even more than the natural diamond market. Is it a bad thing? That’s open to discussion: making diamonds more accessible and traceable than natural, but robbing customers of the experience of getting to buy a piece of natural history. There are endless arguments for and against.

But still, why has the natural diamond market also slowed down? That is in part due to sluggish Chinese demand and worldwide geo-political issues. However, the best diamonds, D, Flawless, are still in high demand, as are the bigger carat diamonds. The larger the carat weight the bigger the jump in percentage increase. There is a huge difference between a 1 carat diamond and a 1.50cts diamond for example. With all criteria remaining the same, the increase can be more than 50% per carat depending on the retailer. De Beers are currently retailing a 1ct brilliant-cut diamond G, VS2, for £15,800 and a 1.50cts with identical colour and clarity for £34,200.

Other than for solitaire diamonds of a certain colour and clarity (for example H/I coloured diamonds with a clarity under VS2), when it comes to completed jewellery pieces, the prices do not seem to be declining either. Why? Because couples are still getting engaged, young people are still having “big” birthdays commemorated with diamond gifts. Whatever the reason, diamonds maintain their desirability and durability.

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

It still seems good business and good investment to be buying jewellery and diamonds. Though one might need to hold on to a few middle market diamonds until the values pick up again, when it comes to branded pieces, such as De Beers or Tiffany & Co. as we have cited, 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. Be sure to keep get your valuations updated as you could be under-insured and very possibly over-insured too.

Lunar New Year 2025: Year of the Snake

Posted on January 27, 2025January 29, 2025 by Ashley Crawford

新年快乐! – Happy Lunar New Year from Doerr Dallas! We wish you all a healthy and prosperous year for 2025, the Year of the Snake (蛇), which begins on 29 January.

Often referred to as Chinese New Year in Western countries, Lunar New Year is the largest festival in many East and Southeast Asian cultures. Each year, a different animal from the twelve animals of the Chinese zodiac is celebrated. Last year was the Year of the Dragon, one of the most iconic symbols in East Asian material culture. The snake is the sixth animal in the zodiac progression. People born during the Year of the Snake are characterized as intellectually curious, comical, and sophisticated. As snakes somewhat resemble East Asian dragons, this year can also be called the Year of the Small Dragon. While snakes are not quite as prevalent as dragons in Asian art, they still have a varied history dating back thousands of years and hold an important role in East Asian material culture, especially in China. Forms featuring snakes include porcelain, jade, coins, terracotta, cloisonné, and other popular Chinese media.

While zodiac animals are most typically depicted individually in Chinese art, sometimes all twelve figures of the Chinese zodiac appear together as a complete set (known as shi-er shengxiao), especially in ceramics. Collectors display these animals together in a semicircle in the chronological order of the zodiac. This was frequently done during the Tang Dynasty (618-907), when zodiac animals were crafted as semi-anthropomorphic terracotta figurines, such as this in this complete set on display at the Metropolitan Museum of Art. Tang zodiac figurines possess animal heads with human bodies. They are dressed in traditional Tang robes and pose like Tang court ladies, who were the quintessential subject of Tang terracotta figurines. Complete sets are rare on the market, but are occasionally offered at auction, as recently as this set offered at Sotheby’s last year or this set sold at Galerie Zacke in 2023. The Zacke set is in particularly good condition, with more pigment remaining and carving in the faces revealing characterful expressions. Because the market is generally flooded with Tang figurines, it is not currently particularly strong unless the object is unusual, large, or in excellent condition. Complete zodiac sets such as the one offered at Galerie Zacke would definitely fall under this category. Because the quality of Tang figurines can vary widely, there are many avenues for purchase, including the online retail marketplace, Chinese art galleries, and both regional and larger auction houses.

Anthropomorphic scenes also sometimes appear in other three-dimensional forms, such as jade. Only a fraction of the size of their Tang terracotta counterparts, these jade works were particularly prevalent during the Qing Dynasty (1644-1912). There were two recent examples of jade zodiac snakes sold at Sotheby’s, including this individual anthropomorphic snake and this complete set. The Chinese jade market has largely recovered from the pandemic, but like Tang figurines, the quality and size of jade can vary widely, so objects that are strong in both areas are likelier to retain their value over time. Provenance, literature, and exhibition history also support these values. For those across the pond, there will likely be a selection of higher-end Tang terracotta and Qing jade figurines available at the auction houses and galleries participating in Asia Week New York this year.

Snakes are also found in animal groupings outside of the zodiac. In all cultures, snakes can sometimes suffer a bad reputation, and while East Asia is no exception, in this case, snakes can use their venom for good! This is the case for the Five Poisons, which along with snakes consists of centipedes, scorpions, toads, and spiders. Despite the belief that these creatures bring bad luck, people also believed that depicting the Five Poisons artistically and keeping them nearby would have the opposite effect, combatting any bad luck that came their away. In this sense, the Five Poisons then become protectors. This grouping appears together frequently in Chinese art, from old charm coins that people would carry with them to items with more stationary purposes, such as jade, porcelain, and cloisonné.

During the Wanli period (1572-1620), the Five Poisons sometimes appeared on wucai porcelain, decorating the exteriors of dishes. Such examples are not common, but they occasionally appear in auctions, such as this Bonhams sale in 2023. For those in London wishing to view one in person, there is a characteristic example currently on display in the Percival David Collection at the British Museum. The market for high-quality Wanli porcelain in good condition has always been strong, especially when depicting the Five Poisons. There are many options for purchasing Ming Dynasty (1368-1644) porcelain in London, such as the major auction houses, Marchant Gallery, and Eskenazi Gallery.

No matter where you fall within the zodiac, we hope you will find some snakes you enjoy this year – ideally from the safe distance of viewing them artistically!

To arrange an asian art valuation, email us at [email protected] or call us on 01883 722736.

Make Mine a Marquise! The Fancy Cut Set to Shine in 2025

Posted on January 22, 2025January 23, 2025 by Liz Bailey

Whilst 2024 was undoubtedly the year of the oval engagement ring, 2025 looks to feature the marquise cut much more prominently!

According to the Rapaport Diamond Report Volume 47, no. 48 – marquise cut diamonds are benefitting from an “excellent market – the most expensive fancy shape – supported by shortages.” According to the list, these exclusive shapes can currently price in at up to 15% more than their shorter fancy cut counterparts – suggesting that these elongated fancy cuts are set for a good year ahead.

Celebrity influence naturally plays a role in the demand for fancy shapes. Selena Gomez’s engagement ring from Benny Blanco in December 2024 features a principal marquise cut diamond. Paying homage to her 2015 song “Good for You” in which she compares herself to a marquise cut diamond, this ring features a sizeable marquise cut stone accented beautifully with a round brilliant cut diamond band.

History of the Marquise Cut

The marquise shape is an elongated oval with pointed ends. This distinctive navette shape diamond dates to 18th century France and King Louis XV, who commissioned a stone fashioned in the shape of his lover Marquise de Pompadour’s lips. The marquise cut diamond was born!

Value Factors of Marquise Cut Diamonds

Universally with natural diamonds, of course the famous 4 Cs (colour, clarity, cut, carat weight) are the key determining factors for value with these stones. The better the colour grade either on the colourless or fancy colour scale, with minimal inclusions, excellent cut grade and maximum carat weight are all attributes of the most valuable stones.

Another incredibly important factor to consider particularly for elongated fancy shapes such as the marquise cut is the proportion, and more specifically, the length to width ratio! This ratio is deduced by dividing the length by the width – and much is due to personal preference however owing to the alignment of the facets, a slight deviation of the LWR or cut grade can result in undesirable optical effects such as the dreaded ‘bow tie’ (a dark shadow to the centre of the stone). This visually heavy optical effect of course not only minimises the brilliance of the stone but has a negative impact on the value.

Buyer Beware!

Above is an image of a 1ct marquise cut lab grown diamond, currently available to purchase online at only £365. As seen in the past year, the price of production for lab grown diamonds and therefore their subsequent retail prices are at an all-time low, with long term valuations set to look even lower and resale value almost negligible for synthetic diamonds.

To compare as closely as possible, 1ct natural marquise cut diamonds with identical colour, clarity and cut grades, fluorescence and similar length-width ratio to the above lab grown stone (D, VS1, Excellent, none, 1.9-2.3) are retailing currently between £3,500 and £8,290 on a reputable online retailers website.

This massive discrepancy in prices and of course continued value for natural stones is not to be taken lightly – we would recommend purchasing your natural diamonds from a reputable source, with notable laboratory certification, and of course, ensuring that in the long run you have adequate and continued cover through a thorough insurance valuation from our specialist team.

The Pearl Renaissance

Posted on January 13, 2025January 23, 2025 by Liz Bailey

According to Jewellery Net’s Pearl Report 2024-5, “The pearl industry is witnessing a renaissance of sorts, ushered in by shifting perceptions of the pearl among a more discerning clientele.” Eagerly awaited by jewellers, retailers and auctioneers for some time, this ‘renaissance’ certainly appears to be bolstering values and signalling a buoyancy in the top end of the market, in particular for fine cultured pearls that had previously been waning.

The pearl report points towards the ‘sustainable nature’ of pearls as a key factor in attracting a refreshed and renewed interest, as well as attention from a younger ‘Gen Z’ demographic. Indeed, it appears that in 2024, the secondary market at auction has reflected this, with continued high prices for natural pearls, and a revived interest in certain aspects of the cultured pearl market.

Natural pearls:

In terms of desirability, natural saltwater pearls have been and continue to be the most sought-after type of pearls at auction. Performing steadily and consistently well in years gone by, 2024 echoed a strength in the market for rare larger pearls, blemish free, with a pleasing body colour and where applicable evenly matched within a jewel. Other factors such as designer attribution, historical provenance and market scarcity also played a key role in achieved prices across 2024.

Christies witnessed the sale of some spectacular natural pearl jewellery this year, frequently fetching hammer prices in excess of six figures. One such example was a natural saltwater pearl and diamond single strand necklace. Featuring forty-three pearls (eleven of which were cultured) graduating in size from 7.25mm to 12.20mm, this piece achieved a final hammer price of $378,000 in their June New York Magnificent Jewels Auction.

Remarkably, in this same sale, a pair of slightly baroque natural saltwater pearl and diamond earrings measuring 14.8mm in diameter each achieved a hammer price of $277,200, demonstrating the demand for these relatively rare, large, well matched natural saltwater pearls in the international market.

Fine Victorian natural pearl jewellery performed incredibly well at auction this year, with some of the highest hammer prices achieved going to late 19^th century pieces. A spectacular enamel, pearl, diamond and gem-set piece by Marcus & Co dating to 1895 sold at Bonhams this June for a staggering £165,500. This piece was set with two natural pearls, to include a 13.5mm bouton pearl, and a later 13.25ct natural pearl drop together with over 15 carats of diamonds. This beautiful lot achieved the highest hammer price for pearl jewellery sold at Bonhams in 2024, and achieved a house record for jewellery by Marcus & Co.

A fabulous auction result for Gloucestershire saleroom Chorleys was achieved in the same month, with a Victorian natural saltwater pearl necklace and detachable pendant/brooch. Showcasing a principal natural pearl of 8.46ct, a sizeable natural pearl drop, and slightly graduated natural saltwater pearl beads measuring 5.2mm-6.9mm, this piece fetched a hammer price of £85,000.

Elsewhere, records were set this year with the largest ever discovered natural freshwater pearl from Scotland selling in August. This impressive round freshwater pearl measured 10.5-10.6mm in diameter and fetched a £75,000 hammer against an estimate of £40,000-60,000.

Cultured pearls

Previously the victim of a downturn in value, hammer prices for cultured pearls in 2024 were incredibly promising. With some fantastic prices achieved for the finest cultured pearls on offer, this market trend offered a glimpse into a hopefully much more buoyant future for cultured pearls – although it is worth noting that low prices and unsolds remained the general pattern for smaller, worse quality and unattributed cultured pearl jewellery.

Top hammer prices this year were reserved for large, well-matched, symmetrical round cultured pearls, with a great lustre and blemish-free surface. One such example was a necklace by the ‘founder’ of cultured pearls’ eponymous company Mikimoto. Featuring one long strand of 140 round cultured pearls measuring at least 12mm in diameter each and terminating with a pavé set diamond clasp, this piece reached $44,800 at Bonhams in September 2024. For the sake of comparison, a Mikimoto strand of 8mm pearls, nearly twice the length with similar pavé set diamond clasps sold for £5,500 in 2021.

Cultured pearls set in designer jewellery also achieved great hammer prices at auction. Featuring much smaller cultured pearls at only 3.5-4mm each, an exquisitely made gem-set sautoir by Van Cleef & Arpels dating to 1975 caught the attention of bidders at Bonhams in June of this year, and subsequently sold for £38,400 inclusive of buyer’s premium.

Similarly, a more contemporary design in the form of cuff bangle by Bulgari set with sixteen cultured pearls of around 7.5-8mm in diameter together with 7-8 carats of pavé set diamonds sold at Christies Paris in the same month for €25,200. A similar example of a Bulgari Parentesi bangle set with twelve cultured pearls and approximately 7 carats of diamonds remained unsold with an estimate of £6,000-8,000 at an auction in November 2022.

These examples show an extremely promising upwards turn for fine cultured pearl jewellery in 2024, which – with any luck, will stabilise if not grow well into 2025.

Conch and Melo pearls

Conch and Melo pearls are another category of natural pearls to retain a high desirability and value, weathering the ‘storm’ experienced by their cultured counterparts. Owing to their rarity, gorgeous hue, and unique ‘flamed’ lustre, these non-nacreous pearls have long been incredibly valuable. Auction results of 2024 echoed this continued buoyancy in value, with a fine 19mm melo pearl and sapphire ring by Hemmerle selling at Bonhams in June for £52,100 inclusive of premium.

An impressive suite of jewellery comprising no less than seven conch pearls set within a pair of drop earrings and a cocktail ring was accompanied by two GIA reports and sold at Christies Hong Kong for HK$1,008,000 in May.

Whether set in jewellery or offered as a loose gemstone, conch and melo pearls remain highly sought-after, with a 24.54ct melo pearl selling in 2022 for $31,875, and a 10.01ct conch pearl selling in the previous year for $11,475 at Bonhams.

Keeping in mind the strength of prices for both natural and cultured pearl jewellery across the salerooms in 2024, it is vital to ensure that your insurance valuations offer adequate cover and that your jewellery is documented by a specialist.

For further information on our insurance valuations from our nationwide team of specialists, contact us via [email protected].

Old Masters Sales December 2024

Posted on January 9, 2025March 20, 2025 by David Dallas

I was very alarmed when I previewed the December 2024 Old Master Sales in London that there weren’t many pictures, no masterpieces and too high a percentage of pictures were in less than perfect state.

What was going to happen? I felt very discouraged. I have talked before about the effects of geo-politics and the economy on the timing of Old Master sales, but why weren’t there more paintings appearing out of necessity – the old 3D chestnuts of death, divorce and destitution? Sotheby’s had just 26 lots of which two were of prints and two of late 19^th Century pictures, hardly Old Masters. Christie’s was the same with 26 lots, one of which was sculpture and three late 19^th Century pictures. The Day Sales were even thinner with sculpture, 19^th Century paintings, watercolours, drawings and even Limoges enamels to bulk them out. It doesn’t bode well for the future.

As it happens, the sales, in relation to their estimates, were quite strong. Six lots failed to sell at Sotheby’s and the same at Christie’s, but there, the two auction houses diverge. The Sotheby’s total was £24.2M and Christie’s a very modest £13.99M.

The star of the Sotheby’s sale was a Botticelli Madonna and Child, that realized £9.96M; not far short of the Christie’s total. Botticelli is, of course, a magic name and this picture hadn’t been on the market for 120 years. They also had a handsome Stubbs of a Pointer in a Landscape. I love his work, but the colouring in this oil painting was most peculiar. The landscape, instead of being a vibrant green, as Constable would have painted it, was made up of smudgy pinks and browns, making it look like an aquatint! It made a sound £1.8M, nevertheless.

Christie’s had a powerful oil sketch of a prancing horse by van Dyck, which had a hastily sketched landscape on the reverse, so the purchaser, at £3.4M, got two for the price of one. They also offered an unusual still life by Clara Peeters of a Stack of Cheeses. This made £655,000 against an estimate of £100-150,000, just showing the continuing interest in works by female artists, especially when they are slightly off-beat.

My favourite offering of the week was the pair of what I suppose one would call ‘fancy pictures’, rather than portraits, that Bonhams offered. They were of a girl selling watercress and a girl selling flowers by the German artist Johan Zoffany, who worked for many years in London and was a founder member of the Royal Academy. I had catalogued this pair of paintings 30 years ago and was very surprised and sad when they failed to sell then. This time round, having established that a distant ancestor of the vendor had bought them directly from the artist, they took wing at a very healthy £991,000 with premiums.

What do these results tell us? That the supply of good/great is diminishing, but there is a market for them and the prices are strong. The same cannot be said of third-rate Old Masters. There is almost no demand at all. It’s not just a price correction, there aren’t any bids.

There will be more Old Master news after the February sales in New York, which looked much more interesting than their London counterparts, when I viewed the best lots in London last week. In particular, Sotheby’s are selling the remnants of the celebrated collection of Aso Tivitian. He was a philanthropic, Armenian billionaire who made his money out of microchips. He started life in New York as a cab driver before getting a scholarship to Columbia University. He has left a painting to the Frick and one to the Met in New York and over 330 works of art to the Clark Art Institute in Williamstown, Massachusetts.

The “remnants” are by no means lesser fry, they just don’t fit with the public collections he has supported. They are significant paintings in a wonderful state of preservation. He also collected great English furniture and European sculpture. Their sale should give us a more accurate idea of how much taste there is for Old Masters, currently.

The 12 days of Christmas – A gift guide!

Posted on December 22, 2024December 18, 2024 by Aurélia Turrall

In 2014, Sotheby’s sold a copy of Mirth Without Mischief for $23,750, dating from 1780 in which the first version of the famous Christmas carol Twelve days of Christmas appeared for the first time.

Christmas Carol, Sotheby’s 2014, estimate $7,000 - 10,000, Containing The Twelve Days of Christmas; The Play of the Gaping-Wide-Mouthed-Wadling-Frog; Love and Hatred; The Art of Talking with the Fingers; And Nimble Ned's Alphabet and Figures. London: Printed by J. Davenport ... for C. Sheppard,1780. No copy has appeared at auction in the past 40 years; only 1 copy recorded (Opie collection, Bodleian Library, who dates it c. 1780), all others in Worldcat are e-books. Not in Cotsen

Some historians believe it could be French and could have been created as a memory game, to help Christians learn and remember the principles of their faith. Though this could and has been refuted by some, let’s have a look at what is gifted during the Twelve Days of Christmas.

On the first day of Christmas, my true love gave to me a partridge in a pear tree.
Day 2: two turtle doves
Day 3: three French hens
Day 4: four calling birds
Day 5: five gold rings
Day 6: six geese a-laying
Day 7: seven swans a-swimming
Day 8: eight maids a-milking
Day 9: nine ladies dancing
Day 10: 10 lords a-leaping
Day 11: 11 pipers piping
Day 12: 12 drummers drumming

So many days of festivities, so many outfits! Here is my choice for what I would wear during the Twelve Days of Christmas.

The Twelve days start on the 25^th December, and it is a full day of socialising so the perfect purse for this occasion would be an Art Déco velvet and coral bag by Cartier, dating 1920s, which sold at Bonhams for £2,295.

On the 26^th, in keeping with the Christmas colours I would wear a sapphire, ruby and diamond swivel ring. Sure to grab people’s curiosity if I flip from ruby to sapphire during the course of the day. A ring such as the below would sell for approximately £1,000 at auction.

On the 27^th, when guests have come and gone, I can sit back and admire the Christmas tree. But whilst doing so, I would wear another Cartier piece reminding me of a fancy Christmas tree: a ruby and diamond brooch mounted in platinum dating the 1920s.

With approximately 2 carats of diamonds, this brooch sold for USD 47,880, with a pre-sale estimate of USD 40,000 – 60,000

On the 28^th, to remind me that time is still passing by even though it seems to have stopped for a few days, I would look down at my Patek Philippe 4282 in onyx, malachite and yellow gold with diamond highlights. A combined delight of wearing both an exceptional timepiece and quality jewellery.

This watch sold at Dawsons Auctioneers in 2022 for £14,000 against a pre-sale estimate of £2,000-3,000.

On the 29^th, there might be some event, show or concert to see. And for this, I would take inspiration from non-other than the Princess of Wales. Last year she wore Van Cleef & Arpels Magic Alhambra earrings, retailing for £6,000, up from £5,400 the previous year. Seems to always be good investment to buy a renowned jewellery brand!

On the 30^th, I would wear a jewel set with a restorative gem as the legends have it. This would be quartz. And who else would I wear but Pomellato who have based their name in declining all coloured quartz in every style possible based on one specific design: the Nudo ring.

Ranging from £1,800 with a rose quartz ring, the collection goes up to £5,700 with a pair of prasiolite and diamond earrings.

With quartz’ powers to energise, remove all negativity and give peace and optimism, I’m all set for New Year’s Eve celebrations.

On the 31^st, I would wear the present I found under the Christmas tree. And just like it was beautifully wrapped, it too looks like a present: the Tilda Bow diamond ring by Graff.

With a little over 2 carats of diamonds, it retails for £13,000 and would be the gift that keeps on giving every time you would glance at it!

2025 will be the year of the Wood Snake in Chinese culture. Snakes symbolise eternity and in zodiac signs, they are said to be hardworking and driven. I can’t think of a better way to start the year and to embody those images. And for that the perfect bangle sold by Bonhams in 2020 for USD 2,800, set with 1.25 carats of diamonds, and coiled in the tradition of snake and serpent bangles found in all antique jewellery.

On the 2^nd January I would subtly remind the people around me how they make me feel with the Tiffany T Smile pendant necklace. Retailing for £3,250 and set with under 0.20 carat of diamond, it could be seen as a costly reminder but worth every penny!

On the 3^rd as I “hit the town” for some shopping to enjoy the new year’s sale, I would need something practical to plan my day and for that I choose a Jaeger LeCoultre Reverso Classic Duetto, at £16,500.

With its guilloché blue or silver dial to suit day or evening mood, the Reverso is chic and understated with perfect lines. One of my all-time favourites.

On the 4^th it would be a day of catching up with friends and discussing the sales purchase. And to do that, pairing a simple outfit with Chanel jewellery seems like it would be the go-to look: faux pearl and paste crystal earrings, in gunpowder metal. This vintage pair of earrings sells for £645.

Finally, as a reminder of the good and bad times, those past and to come, I would choose to wear a diamond eternity ring as I start the new year at work. As a symbol of the circle of life, the unbreakable bonds that make us who we are, and the diamonds’ sparkles representing an echo of life’s dazzling surprises. Graff’s Emerald Cut diamond ring retails for £60,500 and is set with 7.60 carats of diamonds, that’s a lot of dazzling!

These are the jewels I would wear for 12 consecutive days after Christmas. I never said it was going to be a cheap Christmas… Wishing you Best Wishes for the New Year.

If you recieved some beautiful Christmas gifts this year, make sure you have them valued correctly for insurance purposes – get in touch to find out more about our valuation services by emailing [email protected] or calling us on 01883 722736.

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

Posted on December 18, 2024December 18, 2024 by Doerr Dallas Valuations

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!”