If I had £5,000 to invest what would I buy?

Autumn is upon us, and so we all prepare to bring our winter coats and hats down from the attic ready to face the colder days and chill in the air. But it’s not all doom and gloom. Who says new season, says new coats, and perhaps new jewels…

If I had £5,000 I would buy myself a beautiful Art Déco diamond double clip brooch. And that would certainly brighten up any cold day and any winter coat or hat! Why would I pick that particular piece? The answer is simple and straight forward: one can never go wrong with diamonds. Diamonds are timeless, full of fire, brilliance and sparkle. Diamonds set in Art Déco pieces are often a mix between old brilliant-cut (round) and very sharp calibré-cut. Calibré-cut is the name for those stones which have been cut to fit a precise piece of jewellery. They come in all sorts of shapes and sizes and can be diamonds, rubies, sapphires, emeralds, onyx… the list goes on. It is that unique combination of cuts which I find fascinating and exciting when wearing a piece of jewellery. Choosing an older piece of jewellery means embracing its history. With Art Déco, the history is in the stones, but not only. The material used to mount the stones changed from gold to platinum. Platinum became a new favourite in the roaring 20s and was used by all the great designers. So much so that Cartier launched their new platinum jewellery collection on the same day they opened their studio in Paris, rue de la Paix, because of what it represented in the world of jewellery. This new technique offered more sturdiness to the pieces and brighter metal.

But Art Déco is so much more than stones and metal. It is a symbol, synonymous of freedom and order after a world in chaos. The straight lines found in Art Déco jewellery break with the traditional ribbons and swags from the Belle époque. They can appear simple but are in fact very complex, combining circular shapes with kite or baguette-cuts for example. They are designed with an edge to give women an edge. The pieces can be angular but more importantly they have clean lines, with perfect symmetry, no room for “delicacy” found in earlier jewels. Even though on close inspection, Art Déco pieces are incredibly delicate as they try to juggle new shapes, cuts and combinations of colours. With an all diamond-set piece, one is able to add it to any coloured outfit.

A double-clip brooch from that period would combine all of the above and even more. I would pick this item for its ambivalence. It can be worn as one piece, or separately, allowing to wear one part on a silk scarf, to tie the two ends together for example, and the other perhaps on one’s coat, hat or a suit.

Chic and timeless, an Art Déco piece worn in a man’s world makes a strong statement of equality and fearlessness, fitting any suit or garment with its contemporary look filled with history. 

 

 

Art Deco Cartier Jewellery

The Early Days of Cartier

In 1847 Louis-Francois Cartier takes over a studio in Paris, joined by his son Alfred, and later by his three grandsons, Louis, Pierre and Jacques. Within a decade their reputation precedes them and they provide jewellery to the Empress and Napoleon’s extended family.

The years 1910-1940 are considered by many experts to be the golden era for Cartier. It employed the finest designers and craftsmen, but not necessarily jewellery designers. They preferred to hire designers from all backgrounds: furniture designers and architects to get a fresh pair of eyes on jewellery design.

During the early 20th century, peace rules and the Exposition Universelle of April 1900 attracts over 50 million guests in 7 months. The Ritz opened its doors in 1898. It is overall a prosperous time during which Cartier move into their new quarters in the luxurious rue de la Paix, in Paris. From then, everything takes off. They have international purchasers, organise exhibitions abroad such as in St Petersburg to showcase exceptional pieces inspired by Easter and Christmas. When they officially open their new atelier (“shop”) rue de la Paix, they combine it with launching a new technique of jewellery making: setting stones and jewels into platinum all the while keeping the traditional style.

It was the beginning of a revolution yet to come in jewellery design and making.

The Beginnings of the Art Deco Movement

It’s generally agreed that the 1925 Exposition Internationale des Arts Décoratifs et Industriels Modernes in Paris was the official launch of the Art Deco movement, though the style can be traced back at least a decade before.

The Great War is the catalyst for the movement to emerge. Women, having done men’s jobs during the war, come out of the shadow and step away from the delicate and fragile attire of the Belle Epoque era with bows, ribbons, swags, flowers, items mounted en-tremblant. From now on, angular stones, baguette and calibré-cut diamonds are favoured along with short hair “à la garçonne” (“like a boy”) and suits, giving women a masculine but sexy look.
Cartier Tank watch
Cartier Tank Original 1919

Art Deco was Synonymous with Freedom and Order

Launched in 1917, created by Louis Cartier and inspired by chaos, comes the Tank Original. This first wristwatch is rectangular, has a creamy-white dial which offsets the bold Roman numerals, chemin de fer chapter ring, with blue steel sword-shaped hands and a sapphire cabochon winder. The prototype was presented to General John Pershing of the American Expeditionary Force by Cartier himself and has become a symbol of chic and luxury.

It is a clear step away from the curves and fussiness of Art Nouveau with clear lines and no frills.

Louis Cartier, supposedly, was inspired by Renault F-17 tanks as seen from above: the brancards representing the tracks of the tank and the square case its main housing.
The wristwatch is a real symbol of freedom. No longer attached to your attire, there is freedom of movement in the wrist. It resonates the desire for structure in the midst of chaos, it celebrates technology and new machinery.

Art Deco Jewellery Echoes New Clothes and Hair Fashion

In jewellery, the Edwardian and Belle Epoque style are no longer accepted. Heavy tiaras are replaced with head pieces called bandeau.
Cartier bandeau
Bandeau Cartier
Queen mother wearing a Cartier bandeau made up of three of the five bracelets which her husband, King George VI bought for her.
Cartier diamond bandeau Christie's
A diamond bandeau by Cartier sold by Christie’s in November 2019 for almost £900,000.

Some more “modest” bandeau would have been set with tarlatan and beads rather than diamonds. Or if jewellery was adorned with diamonds, smaller sized diamonds and gems were used, breaking from the past which favoured very large stones. Pieces were now set with detailed calibré-cut stones, meaning they are usually square or rectangle and cut to fit a piece.
The Art Deco head pieces were light and had straight lines rather than garlands found in Belle Epoque jewellery for example. It fits short hair and with that comes longer earrings for example and sautoir (long necklaces).
Cartier pearl sautoir
A Cartier pearl and diamond sautoir, circa 1925, sold at Christie’s in May 2012. Estimate £60,000-85,000 sold for approx. £400,000
Pearls are an important component for Cartier and were a sure thing to buy, until the Wall Street crash in 1929.

Monochrome Art Deco

In the earlier years of Art Deco jewellery, pieces were monochrome, black and white were key. Using rock crystal, onyx and diamonds as key gems. In the wake of the Great War, many were in mourning.
Cartier rock crystal bangle
A diamond and rock crystal bangle, sold at Christie’s for $204,000 in Oct 2000.

This price reflects the constant desire for the sleek sober but luxurious look of Art Deco monochrome pieces, a style always in vogue and not likely to disappear anytime soon.
Vogue states that “A woman, in Paris, who knows how to dress, is almost always dressed in black. Not through laziness but by sophistication.”

The Move to New Materials and Daring Combinations

As we move forward so does the colour scheme in jewellery. Cartier attempts daring combinations of colours which no one had previously tried. There are two factors which contribute to this new direction. In the Cartier archives, we find that Leon Bakst, a Russian painter and costume designer, and part of the Ballets Russes, was a great source of inspiration for Charles Jacqueau, one of the great designers for Cartier from 1909 until 1954. Leon Bakst had designed costumes for a ballet, Scherehazade, mixing only blues, greens and red. This had a big impact on Jacqueau. This colour combination had always been considered to be of bad taste until Jacqueau decided to take a risk and integrate it in his jewellery designs. Simultaneously, the discovery of Tutankhamun’s tomb in 1922 created waves in the Cartier design. Louis Cartier pushes his designers to familiarise themselves with all things Egyptian: heading to the Louvre to study their collection or simply walking through Paris, filled with Egyptian artefacts, to understand the style. Never before had anyone combined carnelian with turquoise and lapis lazuli, until now.

Renewed interest in Asian art meant that jade, lacquer, coral and enamel were also integrated. At this time, Jacques Cartier, who was running Cartier London, often travelled, and would return with many exquisite gems to be added to the Cartier jewels. These stones could be carved or made into cabochon. Cartier was the first to create these new colour and gem combinations. In the 1970s the style was named Tutti Frutti.

Contrast and Colour comes into Vogue

Collier Hindou
The Collier Hindou

Fransesca Cartier Brickell speaks about this necklace in her book “The untold story of the family behind the jewellery empire, The Cartiers”. The necklace belonged to Daisy Fellowes, the heiress to the Singer sewing machine. She had this necklace commissioned, using her own stones. It was designed to be tied at the back with a black silk cord, as would Indian jewels be. However, the big difference here is the use of sapphire, thought to bring bad luck in India. This is a statement of combining far away travels and traditional Western European gems. His daughter, the Comtesse of Casteja, inherited the necklace and in 1991 it was sold at Sotheby’s for $2,655,172. It was a world record for an Art Deco piece of jewellery sold at auction.

The Constant Desire for Exceptional Jewels

Tutti Frutti bracelet
Tutti Frutti ruby, sapphire, emerald, diamond and enamel bracelet, by Cartier, circa 1930

The meandering vines, set with carved rubies, emeralds, sapphires, calibré-cut onyx, black enamel and diamonds is the perfect marriage of West meets East, a perfect artful arrangement. It belonged to an American family and had been in the family for 30 years. It came up for sale at Sotheby’s on 28th April 2020, during the pandemic. It was presented online only, during a four-day sale, during which five bidders competed to purchase the bracelet. Its estimate was $600-800,000 and sold for $1,340,000. It has become a record for any jewel sold in an online-only auction and any jewel sold at auction in 2020. Sotheby’s stated that it “follows a trend observed across all our global jewellery auctions in 2019 in which more than half of the jewellery buyers place their bids online.” This bracelet also illustrates that demand for such exceptional jewels, even during the most challenging times, will always exist. Cartier’s exceptional savoir-faire is timeless.

£5k spend – Jewellery Investment Mission

 

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.

image of Fake Cartier Love Bangle

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.

image of gold earrings

Cartier earrings c1970

They are by Cartier, circa 1970 and sold for £3,800 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?

Patek and Cartier Ladies’ Watches

 

In general, and in contrast to gentlemen’s watches, the price of a ladies’ watch tends to reflect the value in the precious metal, the decorative elements such as diamonds plus the manufacturing costs rather than the complexity of the movement. Today’s price per ounce for gold bullion is $1500, in 2002 (when Gordon Brown was selling off some of the UK gold reserves) the price was around $350, so there’s a four-fold increase in material cost to consider. Another huge factor, especially in ladies’ luxury watches, is of course the big brand name premium.

Patek Philippe

Patek Philippe produce only around 62,000 watches per year and according to Patek company policy, only 10% are made in steel. This is because the company considers itself a luxury product maker rather than a sports’ product maker like Rolex. Of the 6,500 or so steel watches produced, the majority are from the ladies’ Twenty4 range. This results in the gents’ steel watches like the Nautilus models being in very short supply, hence the huge price premiums for this model on the secondary market. The Twenty4 range was introduced around 2000 and has proved very popular but always with a standard quartz movement. However, last year a circular cased automatic model was introduced. The two Patek examples here are the cheapest and most expensive in the range.


Ladies’ Twenty4 steel bracelet watch with diamonds reference 4910/10A.
2002 £3,950
2008 £5,920
2019 £9,550


Ladies’ Twenty4 18 carat gold bracelet watch with diamonds reference 4910/11R
2002 £9,450
2008 £20,850
2019 £32,560

Cartier

Cartier introduced the Panthere range of watches in 1983 to compliment the Panthere jewellery range, and it proved to be a very successful model which was discontinued about 10 years ago but relaunched in 2017. It has remained virtually unchanged (apart from its retail price!!) – and although some of the larger models have automatic movements the smaller model which we illustrate here has retained its standard quartz movement.


Ladies’ Panthere 18 carat yellow gold bracelet watch, mini size, reference W25034B9
2002 £5,900
2008 £9,750
2019 £17,800


Ladies’ Tank Francaise steel bracelet watch, mini size, reference W51008Q3
2002 £1,550
2008 £1,920
2019 £2,890
All the major brands have an understandable policy of refreshing or slightly altering the models in their watch ranges on a regular basis, which does at least give them a chance to nudge the retail prices up regularly. This result in a wide gap between a current retail price and the secondhand/auction value of a five or so year old example. It is therefore very important for both the insured and the insurer to establish whether the insurance cover is on a ‘new for old’ or a ‘second hand replacement value’.