Tag Archives: diamonds

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 However, as a concession to the prevailing economic climate; sustainability and efficacy this crown, originally made by Garrards for the 1911 coronation, is being repurposed.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.

Fluctuations of the market in the last few years

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As with every market, jewellery prices will inevitably fluctuate, though I can’t say I’ve seen the price of precious stones go down in the last few years. Seen as a commodity by some and as a treasure by others, it’s important to understand the cost of remaking a unique piece of jewellery. It will be dictated by global demand for diamond (or other precious stones), gold, silver, palladium and other alloy metals and stones.

High worldwide demand for palladium – due to its key importance in the development of renewable energy – inevitably increases the cost of gold – based items of jewellery. Because of its softness, gold used in jewellery is mixed with alloys. Alloys are other metals, such as zinc, copper, nickel, iron, cadmium, aluminium, silver, platinum and palladium. This mix then alters its appearance, hardness and melting point. Palladium is a chosen favourite as an alloy metal. At today’s value, the scrap value for palladium is £41/gram compared to £21.50/gram for platinum, which then impacts gold jewellery pieces.

As an example, this 9ct gold gate bracelet with heart locket was estimated £70-£100 by Bonhams in 2005. Today’s estimate would most likely be £200-£300.

Designer pieces with diamonds are affected in a similar manner.

This diamond and gold bracelet by Kutchinsky (above) sold at Bonhams for £1,553 (including premium) in 2005.

A similar item by the same designer (below) sold for £2,550 (including premium) in 2019.

For insurance purpose, the above bracelet would receive a value of £8,000 as at 2022.

Coloured stones have also seen an increase in price.

This emerald and diamond cluster ring is set with an emerald weighing approximately 5.20 carats and approximately 1.15 carats of diamonds. It was previously valued at £42,000 in 2011 for insurance purpose. Eleven years on, it is now valued at £65,000.

One could try to apply generic inflation percentages as a tool to update valuations, however this is incorrect and will often lead to your jewellery being under or overvalued. In the case of the above ring, a formula trying to reflect inflation would be detrimental to the value of the ring.

Valuing jewellery should always be case by case, as some signed vintage pieces will increase over the years, but not at the same rate as precious gemstones for example. The market for an Art Déco Cartier wristwatch (as below), though rare, has a smaller market of potential buyers and sellers. Comparatively to coloured stones, the value for this wristwatch will never exceed a certain plateau. This watch currently retails for £35,000.

A similar wristwatch by Cartier (below) sold at Bonhams in 2017 for £16,250 (including premium) and would have most likely received an insurance value of £23,000.

Diamonds on the other hand continue to escalate at a steady pace.

These diamonds earstuds (above) are 4.01 carats and 4.04 carats respectively. They were valued for insurance purposes at £300,000 in 2012 and are now valued at £360,000.

The same applies to contemporary signed pieces such as the Alhambra collection by Van Cleef & Arpels.

The mother-of-pearl Alhambra necklace by Van Cleef & Arpels was sold for £9,950 less than ten years ago and now retails for £15,800. A steady increase reflecting world demand for durable contemporary and elegant jewellery by a reputable designer.

The jewellery market is not exempt from worldwide affairs and economic changes, but it will always have an added unquantifiable value: emotional value. Jewellery can be seen as an investment, but it still predominantly remains a purchase of pleasure and luxury, whichever gem or metal one chooses and whatever happens in the world.

H for HPHT – Lab grown diamonds

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Lab-Grown Diamonds

What is HPHT?

HPHT stands for high pressure, high temperature and is one of the primary methods used to grow diamonds in a lab.

This diamond growth process subjects carbon to extreme temperatures and pressures and is meant to replicate the extreme heat and pressure conditions deep within the earth where natural diamonds form.

This pressure is what makes the difference between:

Scientists first grew diamonds in a laboratory in the mid-1950s. These diamonds were too small for jewellery, however. Production of larger, gem-quality crystals began in the mid-1990s for both jewellery and industrial purposes.

The newer method, chemical vapor deposition (CVD), involves filling a vacuum chamber with carbon-containing gas that crystallizes on a synthetic diamond seed. This method uses lower temperatures and pressures than HPHT.

Turns into:

Coring to remove the outer layer is needed once the process is finished, about 6-10 weeks later.

CVD is best at producing 1-3 carat diamonds in the range J-G colour. They are often treated with HPHT to improve their colour. Whether they are subsequently treated or not, these are synthetic diamonds.

Some people might refer to lab-grown diamonds as imitations or simulants, but this is incorrect. Actual imitations like cubic zirconia or synthetic moissanite only look like diamonds and have very different chemical and physical properties that allow trained gemmologists to identify them easily. However, lab-grown diamonds are more challenging to detect.

There are some characteristics which help gemmologists in laboratories identify if a diamond is synthetic and, if so, to understand which method had been used to grow the diamond.

Some synthetic diamonds might glow for a minute or more after an ultraviolet lamp is turned off. This is called phosphorescence and is typically only seen in synthetic diamonds.

GIA, one of the leading gem laboratories, use a fluorescence imaging instrument called a DiamondView™ to examine diamonds. This instrument reveals the growth patterns within diamond crystals.

The real challenge comes with identifying tiny diamonds called melée (below), which make up a dramatic portion of the diamond trade.

So why are these diamonds so popular?

Simply put, lab grown diamonds are more affordable than mined diamonds of comparable size and quality. They can sell for up to 75% less than mined diamonds, due to lower expenses, a shorter supply chain, and a more competitive market.

It does not mean that lab grown diamonds are “cheap”: the process of cutting, polishing, and certification also carries a similar cost whether they be mined or lab grown.

However, because the mined diamond industry’s supply is restricted and controlled, it leads to artificially inflated prices, which does not happen in the lab grown diamond industry.

Ethical and eco-friendly

Approximately 10 square metres of earth is disturbed and almost 3,000 kgs of rock waste is generated for each carat of diamond that is unearthed.

It was highlighted in a report that “lab grown diamonds are seven times less impactful to the environment than mined diamonds, use significantly fewer resources and emit a fraction of the air pollution.”

Essentially, lab grown diamonds are the only ethical and eco-friendly diamonds, guaranteed to be conflict-free.

Comparables:

Whichever diamond is chosen, lab grown or natural, they are always the best option for engagement rings and hardwearing jewellery, being the strongest material known to science, rating 10 on the Mohs scale.

The Mohs scale of mineral hardness was created by Friedrich Mohs in 1822 and determines the scratch resistance of minerals when scratched by another mineral and is used to manufacture everyday objects: your mobile phone’s screen glass is made of a material that scratches at level 6, some at level 7.

This differs from diamond simulants such as cubic zirconia and moissanite, where the quality is nowhere as close as that to diamonds allowing them to easily scratch, chip, and lose their shine as well as being heavier and therefore more uncomfortable to wear.

To be certain of the identity of the diamond you are buying, make sure you buy a diamond with a certificate from a reputable laboratory such as GIA who offer diamond grading reports or lab-grown diamond reports.

E for Eternity Rings

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Eternal love

How better to declare one’s love but by gifting an eternity ring?

Sometimes called Infinity ring, it is a band set with identical gems throughout. Just as the snake rings represented undying love, eternity rings seem to be the modern fashionable jewellery item to state such devotion.

Traditional materials

It is thought eternity rings have been gifted as far back as the 4th century BC. They were made of plants, such as hemp, or reeds and even elephant hair.

A tradition that went long into the Victorian era. Nowadays, these bands are made with precious metals such as gold and platinum. The stones have evolved from paste to sapphire, ruby in the 18th century to diamonds in the second half of the 20th century.

Engagement rings

Until the 1960s, an engagement ring would traditionally have been set with a diamond single-stone. It is rumoured that due to the surplus of small diamonds, approximately 0.25ct and smaller, the jewellery giant De Beers created a campaign in which they would use these smaller stones, set them in Eternity rings and promote this new essential jewel to couples who had already been married for several years.

Range of price

Eternity rings will come a wide range of price. What will impact this price? Materials such as the metal used will be the first component. A ring can be made of silver, gold or platinum, being the most expensive.

Secondly the stones will affect the budget the most. When an eternity ring is set with precious stones, it is important to remember how much carat weight the ring has as a total but also looking at each stone individually. The larger each single stone is, the pricier the ring as a whole. The “purity” of the stones is an element that cannot be forgotten either. Whether it be rubies, sapphires or diamond, the clearer the stones, the more desirable they are and therefore the more expensive they will be. We refer to this grading scale for diamonds as the four C: colour, carat, cut and clarity.

Navaratna ring

Navaratna – from the Sanskrit Nine (Nava) Gems (Ratna) – jewellery consists of an item of jewellery, necklace, bracelet

or ring, set with nine gems: ruby, diamond, pearl, red coral, hessonite, blue and yellow sapphire, emerald and cat’s eye. The Navaratna rings can be considered as a form of eternity ring, present in almost all Asian countries, beyond India where they originated from, regardless of religion. There are a few rules and traditions as to how to place the stones and how it should be worn. Women are to wear the ring on their left finger while the men on the opposite hand.

The ruby which represents the sun, should be placed in the middle and the gems should be of the upmost quality, making these jewels very precious indeed.

Infinite brands

Eternity rings are so popular that every luxury brand has taken to create and promote them as unique and essential jewels in a lady’s collection.

Tri-factor

Eternity rings possess the tri-factor: they make a statement all the while remaining discreet, and elegant. Who best to illustrate this than the Duchess of Cambridge, who not only wears her wedding band along with her engagement sapphire and diamond cluster ring but also a diamond eternity ring on top. The Eclipse diamond ring by Annoushka, is set with 0.23ct total of diamonds and retails at £1,500. It is said to have been a gift from the Duke of Cambridge for the birth of their first child, Prince George.

Your choice

So when should an eternity ring be gifted? Which finger should be worn on? Which brand to choose? Which gem? Which metal? So many choices to choose from it’s no wonder they have swept the jewellery market with ease. Some might say, it should be gifted after decades of marriage, others prefer to gift it as an engagement band, some may want diamonds, others precious stones such as sapphires. Offered in a variety of style and at various price range, as one of Britain’s favourite matchmaker Cilla Black would say, “The decision is yours”!

Harry Winston

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He was known as ‘The King Of Diamonds’ and ‘The Jeweller to the Stars’. He inspired a legendary brand based on the philosophy that jewellery design should be dictated by the gemstones themselves and not their settings. He used to carry around in his pocket some of the rarest diamonds in the world, worth millions of dollars, just for the pleasure of having them close by.

He is famed for saying “I love the diamond business. It’s a Cinderella world. It has everything! People! Drama! Romance! Precious stones! Speculation! Excitement! What more could you want?”. Perhaps his most well know statement: “People will stare, make it worth their while”

Harry Winston worked at his fathers jewellery shop and developed a keen eye for jewellery and gems from an early age. There’s a story that when he was 12, he spotted a green stone at the local pawn brokers which was supposedly glass and cost him 25 cents. It turned out to be a 2ct emerald which Winston sold a couple of days later for $800!

In 1920 he launched his first business in New York, The Premier Diamond Company, and in 1932 he opened Harry Winston Inc. His insistence on excellence, attention to detail, passion, discretion and knowledge attracted a high profile clientele including royalty, movie stars and business moguls.

Winston was one of the first big brand jewellers to truly understand the power of celebrity marketing. In 1943 the actress Jennifer Jones was adorned with Harry Winston diamonds at the Academy Awards. Ann Bancroft seduced Dustin Hoffman in the movie The Graduate wearing Winston diamonds, and not much else. In the movie Gentlemen prefer Blonds Marilyn Monroe sings those famous lyrics “ Talk to me Harry Winston…” in the song Diamonds are a Girls Best Friend.

In 1968 he used publicity to his advantage once again when the 601ct Lesotho diamond was cleaved on live TV! It went on to be cut into eighteen magnificent diamonds including the 40.42ct marquise cut Lesotho III which Aristotle Onassis gave to Jacqueline Kennedy as an engagement ring.

Throughout his career it is estimated that Harry Winston owned more than a third of the worlds most famous diamonds. Perhaps the most well known being The Hope Diamond. This beautiful blue diamond weighing 45.52cts is seeped in history and believed to be cursed. It is said to have attributed to many misfortunes in the lives of its owners such as King Louis XIV, Marie Antoinette. Winston purchased it in 1949 as part of the Mclean Jewellery Estate. He held on to it for ten years and exhibited it around the US as part of his ‘Court of Jewels’. He went on to donate it to the Smithsonian museum where it resides today.

Many recognised his jewels but few recognised the man himself. He was very rarely photographed and many did not know his face until it was published next to his obituary in 1978. Discretion was paramount to this man and it is said he had a concealed private elevator in his office so he and his VIP clients could come and go without being noticed.

Harry’s legacy lives on in The House Of Winston as they continue to deal with legendary stones. In March 2021 to celebrate what would have been Harry’s 125th birthday,they unveiled the Winston Pink Legacy Diamond ring, a vivid pink diamond weighing 18.96cts. Nayla Hayek bought the diamond from Christies in 2018 for a record breaking $50 million. It now forms part of the Incredibles Collection.

Harry Winston continues to thrive as a leading brand in the world of luxury jewellers, with stores all over the world including New York, London, Tokyo and Paris.

The breath-taking gems and designs continue to attract the rich and famous.

These stunning Winston Cluster earrings, composed of high quality diamonds with the largest pear-shape weighing 0.75ct, currently retail for £53,000.

When was the last time you had your jewellery valued? Please ensure your documentation is up to date to avoid a shortfall in compensation in the event of loss.

The French Crown Jewels – Transformations and Fate of The Collection

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Aurélia Turrall, Jewellery Specialist

Louis XV did not add to the collection but instead had stones recut. He especially had the Côte-de-Bretagne recut in the shape of a dragon to be set in the Golden Fleece. By recutting it, the stone now weighs almost half of what it did.

Replica of the Golden Fleece

The Côte-de-Bretagne and the Golden fleece are amongst the very few pieces ever to be found after the great theft of 1792. Over the course of a few days, thousands of jewels,tapestries and furniture was stolen at the Hotel de la Marine, the royal storage since 1775. No one knows who exactly is responsible for the heist and accusations were made against everyone. Many were executed by guillotine, which had been moved in front of the Hotel de la Marine as a statement. Other thieves survived by revealing the whereabouts of the jewels and furniture. The Sancy and blue diamond were lost, but the Côte-de-Bretagne was found in Holland, where it was recut and sold in England. It was later brought back to France along with the Regent.

Napoleon added to the collection over the years.

“Napoleon” diamond necklace, Smithsonian Museum

In 1814, when Louis XVIII came to power, the crown jewels counted 65,072 stones and pearls: 57,771 diamonds, 5,630 pearls, 1,671 coloured stones (424 rubies, 66 sapphires, 57emeralds, 235 amethysts, 547 turquoise, 24 cameos, 14 opals and 89 topaz).

Charles X had some diamonds set in a sword. The sword was modified by Napoleon III, by adding bee motifs and number III. It was stolen from the Louvre in 1976 remains lost to this day.
During the III Republic, the Crown jewels were exhibited at the Exposition Universelle in 1878 and again in 1887 at the Louvre. In 1882 a vote was put forward by Benjamin Raspail to decommission the Crown jewels to be sold and dispersed. The Republic wanted nothing to do with Royalty. The vote was 325 yes against 85 no. Luckily the Regent and Côte-de-Bretagne were given to the Louvre and the Musée des Mines.

The Crown jewels were offered for sale a few years later in 1887 over the course of 9 sessions at the Louvre. The sale was a success for the government but a historical and gemmological disaster. Gems were unset so none would be traceable to a particular monarch or piece of jewellery. The biggest buyers were Boucheron, Tiffany and Van Cleef. Bapst Frères also purchased many in order to keep the gems in France.

Tiffany sold many pieces to American heiress who wanted a piece of history and French aristocracy. William Waldorf Astor purchased the Sancy and donated it to the Louvre. Over the last 70 years, the Louvre has tried to buy back as many pieces as possible. There are currently 23 pieces in the Apollo Gallery.

 

Diamonds and Coloured Gems… words of advice from our Jewellery specialist

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At Doerr Valuations our team of jewellery specialists monitor prices and trends in the international market to make sure that you can be properly informed and looked after.
The jewellery market over the past few years has been unusually volatile for several reasons – some directly due to the general ‘woes of the world’ and some caused by some quite dramatic fluctuations in commodity, material and  gem prices.

In 2007, the price per ounce of gold was around the $750 mark – it peaked late in 2012 at $1,890 – and fell back to just over $1,000 in 2014 although it’s edging up to the $1,910/oz mark today.
However, in pieces of gem set jewellery the gold value factor is not huge – the gem prices, manufacturing costs and retail profits are larger factors.
diamonds_hands
Diamonds, despite what De Beers say in their advertisements, are not rare. Huge deposits of good quality stones are regularly being found in mid-Africa and now Botswana has pretty well become the diamond centre of the world, with De Beers moving their headquarters there from London.

Mining techniques are better and more efficient, so there are more than enough stones to go around. Slackening demand from the Middle and Far East for many of the slightly lower grade stones and sizes have seen noticeable drops in market prices. De Beers and their fellow core suppliers have had to do a lot of juggling and adjustment to try and keep things on an even keel.
However, if the stone is exceptional in all of the three main quality criteria i.e. size, colour and clarity, it will still be very expensive. The trade price of a one carat flawless  D colour (the best) stone, is well over twice the price of a one carat H colour and VVS2 clarity (both acceptable commercial qualities) stone.

There have been some exceptional auction prices in 2017 for coloured diamonds, specifically for pink and blue stones…  Sotheby’s set a new world record in 4 April 2017 in Hong Kong, when the Pink Star, a 59.60-carat oval mixed-cut Fancy Vivid Pink internally flawless diamond, sold for HK$553 million / US$71.2 million (£57.3 million) including buyer’s premium.

Other spikes in the market include the pearl market, specifically the natural saltwater pearl market. Cultured pearls are natural beads ‘farmed’ in seawater by introducing man made beads in to the soft tissue of an oyster. The oyster’s reaction to these ‘irritations’ is to cover them in ‘nacre’, which is the lustrous shell like covering that we see on the pearl necklaces in most shops. The beads can be 4 or 5 mm in diameter so the thickness of the nacre coating can be pretty thin and lacking in lustre depth. In a natural seawater pearl the oyster takes in the occasional tiny grain of sand around which it builds up the layers of nacre, so in an 8 mm diameter natural pearl you may have 7 mm depth of nacre rather than 3 or 4 mm in a cultured pearl. If you put one of each of these pearls together the wonderful depth of lustre of the natural pearl is very apparent.
pearls
Again a laboratory certificate and an up to date valuation is a must. But the main problem for the pearl market is the arrival of freshwater pearls from China. These are farmed in rivers and lakes and not in oysters but in mussels. A mussel can produce more pearls, more often, but they can be of poor lustre and are prone to being misshapen. They are however very cheap and can be seen up to 15 mm in diameter.

Whilst auction prices for fairly modern ‘ordinary’ jewellery can very modest indeed – and a small fraction of its retail replacement price – the market for ‘big name’ pieces with good style and quality is as strong as ever. Cartier, early Tiffany, Boucheron, Bulgari, Buccellati, and Lalique all sell strongly. From the previous century there is a strong collectors’ market for work by Castellani and Giuliano and anything with an interesting historical or royal background will generally fare well.

You may find that the values may have stayed the same, but it is always worth confirming this and as part of Doerr Valuations service we can easily check this for you.

So, with the price of gold, diamonds and jewellery continually changing, seeking professional advice and having your jewellery reviewed annually is extremely important.

Call us today to enquire about an appointment on 01883 722736 or email [email protected] or visit our website www.doerrvaluations.co.uk

Caring For Your Jewellery

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The way people approach jewellery care can be very diverse. Some people constantly wear their jewellery and don’t even think to remove their diamond rings when gardening or kneading dough to make bread. Other people take their rings off all the time – to wash their hands, do the washing up etc, often with husbands shouting in the background ‘Where have you left them this time!!’
In my opinion, jewellery should be worn and enjoyed. It should be a source of pleasure and not locked away in a box or safe all the time for fear it may get dirty or damaged. I often get asked about the best way to clean jewellery, so I have included some advice and other tips in this article in the hope that somebody finds it useful.

Image of commercial jewellery cleaning solution

Jewellery cleaning bath

I usually advise people to soak their jewellery in warm soapy water and then give it a scrub over with a soft toothbrush. You can buy jewellery cleaner at most jewellers which is just as effective. Some people swear by soaking it in gin! I have to say I have not tried that one and can think of better things to do with a glass of gin!

It’s amazing how much dirt is attracted to the surface of diamonds and gems. Earrings that are constantly worn can collect a build-up of ‘ear cheese’ to the reverse, which will also have an impact on the way light interacts with the gemstones and consequently with their brilliance and sparkle. In these incidences a cocktail stick is useful in addition to the soapy water. I often have to clean jewellery in order to be able to grade and assess the quality of the gemstones. My clients are usually delighted at the renewed sparkle it brings.

Image of ear studs with ear cheese

Ear Cheese!

Ultrasonic cleaners use sound waves to break down the dirt that accumulates on the surface of jewellery. However, it is not safe to put all gem stones in them. Softer, more delicate stones can be damaged by the heat and vibrations of an ultrasonic. These include emerald, opal, tanzanite, lapis, amber and other organic stones. Gemstones that have been treated to enhance their colour and clarity can also be damaged by an ultrasonic.
Pearls are very soft and delicate and may partially dissolve if cleaned with an ultrasonic. It is best to wipe pearls with a soft cloth and never use alcohol or chemicals on them. It is worth remembering to spray perfume before you put on your pearl necklace, rather than spraying the perfume on the pearls.

Image of a jewellery tap test

Do ‘the tap test’ at least once a month

Another important thing to check on a regular basis is that the gemstones are secure in their settings. I have recently heard quite a few horror stories of how significant sized diamonds have fallen out and been lost. I recommend people do ‘the tap test’ at least once a month. All you do is hold the piece of jewellery securely, close to your ear and lightly tap on it. If you can hear any rattling the stones are probably loose in their setting and in need of attention. It’s also a good practice to check the fittings on necklaces and bracelets are secure as it may have implications on your insurance cover if they are not. At Doerr Dallas Valuations these checks form part of our valuation procedure.

Graff Jewellery, Following a Passion

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The House of Graff approach making jewellery from a slightly different angle than their more traditional rivals. For them it is all about the gemstones themselves. As they say on their website:
‘Imagine dedicating your life to discovering the world’s most remarkable diamonds and gemstones, a treasure hunt that takes you to all corners of the globe, in search of these elusive wonders. This quest has consumed the Graff family ever since the House was founded almost 60 years ago, and continues to do so today’

The story behind Graff is one of vision, determination and focus. Laurence Graff did what we all should do in life: he followed his passion, dared to dream big and believed in himself.

The Graff Lesedi La Rona Diamond

He started out working as an apprentice in a workshop in Hatton Garden when he was 15 years old. It is said that naysayers tried to discourage him but Graff didn’t listen. He believed he was born to work with diamonds. He not only worked with them, he studied them and seemed to develop an innate understanding of all gemstones. In 1960, aged 24 he founded Graff diamonds and within a couple of years two shops had opened in London. He took his stunning jewellery creations around the world to exhibitions and to showcase to potential clients in their palaces and private yachts. Graff soon began to develop a global reputation and his pieces became highly sought after. There are now over forty shops worldwide and Laurence Graff is said to have handled more important diamonds than any other ‘diamantaire’ this century.


What makes Graff jewellery so special is that they pride themselves on being part of the whole process of jewellery making. From the responsible sourcing of beautiful gem crystals to the meticulous cutting and polishing to optimise their colour and brilliance. With their incredible combination of pioneering technology and age old jewellery making techniques their designers and craftspeople create sculptural works of art. It is all about perfection. As Laurence Graff said himself:
‘No stage is bypassed. No shortcuts are taken. Only perfection matters.’

It’s such a treat to look into a Graff shop window because there is always a dazzling display. They have handled some of the rarest, the largest and most beautiful gems in existence, encompassing them in magical jewellery designs and really honouring these wonders of nature.

Last year they unveiled The Graff Lesedi La Rona Diamond, the world’s largest square emerald cut diamond weighing 302.37cts. It is the largest highest colour and clarity diamond ever certificated by the GIA. It took 18 months to extract and sculpt this record breaking gem from the 1,109ct rough crystal.

Other amazing gems in their collection include the Golden Empress, an intense yellow cushion cut diamond weighing 132.55cts and the Graff Pink, is a vivid pink, internally flawless diamond of 23.88cts.

Graff’s philosophy is the same across all of their jewellery collections. As a jewellery valuer it’s a privilege to be able to examine and appraise such beautiful creations. It comes as no surprise that the price of such jewels continues to rise.

Ruby and diamond earrings and pendant from The Lotus Collection. Originally purchased in 2015 for £102,750. To replace them today would cost £128,500

Earlier this year I was lucky enough to value these stunning ruby and diamond earrings and pendant from The Lotus Collection. They were originally purchased in 2015 for £102,750. To replace them today would cost £128,500. That’s quite a significant increase over a five year period. When was the last time your jewellery was professionally valued? Do the values on your spreadsheet really reflect the increase in the price of gold, diamonds and coloured gems, not to mention the rise in manufacturing costs? Or is the figure just a random percentage increase which may lead to a shortfall in compensation in the event of loss? Surely it’s not worth the risk, especially when it comes to such magnificent pieces as these.

Is it Time to Update Your Jewellery Insurance Valuation?

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A pair of platinum and diamond ‘Victoria’ ear studs

We have chosen four items of jewellery from four of the top manufacturing brands – items that have been in production virtually unchanged for nearly 20 years – unchanged that is except for the price to demonstrate how important a regular jewellery insurance valuation is!

The price of gold in 2003 was about $450 per ounce and it’s about $1510 per ounce today having peaked around 2012 at $1750 per ounce – so the roughly 350% rise in bullion price over the period in question is a price increase factor but a surprisingly small one in gem set pieces like these. The Cartier ring is quite a chunky piece, but its basic bullion value today is probably about £400 as opposed to approximately £125 in 2003. OK, the VAT rate has risen from 17.5% to 20% in the same period but again that’s had a pretty small effect on the retail price, so that leaves gem stone prices, manufacturing costs and retail profit mark ups as the main ‘culprits’ for the 2.5/3 times price increases.


Van Cleef and Arpels.

An 18 carat yellow gold and mother o’pearl 20 motif Vintage Alhambra necklace.
2004 £6,210
2012 £10,800
2021 £13,700

Diamond prices for good commercial grade stones which these top manufacturing brands would use have largely stalled over the past few years; it’s only the highest quality and rare coloured stones which hit the headlines with their huge prices. And we’re all waiting to see what the effect on retail prices will be when the full impact of the introduction of synthetic diamonds is felt. Also to be taken into account is the effect that internet has had on diamond prices. There are numerous well-established and reliable web sites making available to all millions of unmounted stones at basically ‘trade prices’ (plus VAT) and most with recognised laboratory certificates. The ‘closed shop’ trade only which has prevailed in the jewellery business for centuries is breaking down. The coloured stone market is swamped with cheap, very heavily treated and colour enhanced rubies, sapphires and emeralds that come mainly from the Far East. Another factor is the huge increase in the use of coloured stones that 20 years ago would have been classified as ‘semi-precious’ but are now appearing at serious stone prices. The stones that have shown a huge increase in price over the past 10 or so years have been natural untreated sapphires, rubies and emeralds – but the stones have to have an independent laboratory certificate stating they are natural colour and untreated to come in to this category. A few exceptional stones of this type – mainly in pretty 1920/1940’s period pieces – have fetched more per carat than decent comparable size commercial grade diamonds.


Cartier.

An 18 carat white gold, diamond and emerald Panthere ring
2003 £26,000
2010 £42,100
2021 £73,500

Manufacturing and jewellery workshop costs in Europe have certainly risen sharply over the past 20 years – as anyone who has had to have jewellery items repaired will know. Nearly all items are still hand made or finished so the cost of making up of jewellery is a big factor in the resulting retail price. The exception to this being the type of items available from online sites and lower grade retailers that are mass produced in the Far and Middle East – usually pretty poor-quality workmanship and poor-coloured stones. The second-hand and auction market for jewellery of this type is very weak – so don’t expect to cover the cost of your Far Eastern travels if you try to sell your purchases back in the UK.

Chopard.

A pair of 18 carat white gold and diamond ‘Happy Diamond’ drop earrings.
2003 £1,875
2011 £3,120
2021 £4,290

Profit marks up are a big variable – about 30 years ago when I was first involved with jewellery the tacitly accepted mark-up was to double the cost price and add VAT. Now, for a retail shop mark-up can be a whopping 300% to 350% plus VAT. But don’t be too harsh on the retailer – he has frightening fixed overheads and outgoings, and jewellery can be slow moving stock. Also, some jewellery and watch manufacturers do dictate a fixed retail price to the shop for their products. But it’s always worth a little haggle!!

Tiffany.

A pair of platinum and diamond ‘Victoria’ ear studs
2003 £3,100
2010 £4,925
2021 £8,775

If you had bought any of the four illustrated items back in the very early 2000’s at these prices and had applied an across the board annual percentage increase to cover insurance you might well have ended up in trouble in the event of a claim due to the variable cost factor increases. We recommend a review of a jewellery insurance valuation every 3 years. A desktop revaluation is fully acceptable within this timeframe, but a complete revaluation at 5 years especially as the valuation would include a close examination of the condition of claws, clasps and links, is something more and more insurers and brokers now insist on.

I’m afraid I must end on a cautionary few lines. Most of the big brand names like the ones above suffer from faking and copying. Allegedly more Van Cleef and Arpels Alhambra jewellery has been made in the Middle and Far East than in France!!. All the brands we have illustrated are meticulous in their marking and all their products will have a brand name and in most cases also reference and individual serial numbers, so if you’re shopping for some big name goodies on your Eastern travels be sure to take a good magnifying glass with you!