Van Cleef & Arpels’ Tribute to Paris, the City of Pearls

Posted on April 3, 2025April 2, 2025 by Liz Bailey

Last month, jewellery specialist Liz Bailey visited the ‘Paris – City of Pearls’ Exhibition hosted by Van Cleef & Arpels L’Ecole School of Jewellery Arts. Held at the Hôtel de Mercy-Argenteau, nestled in a busy Parisian boulevard, VCA’s L’Ecole hosts regular lectures and exhibitions. Running until June of this year is this wonderful exhibition, documenting Paris’ unique position as the undisputed European ‘City of Pearls.’

Featuring pieces from France’s Third Republic onwards, the exhibition traces the exciting period from the late 1860s when many pearls found their way to the most prestigious jewellers in Paris on the Place Vendome and Rue de la Paix from the Arab and Persian Gulf. These great jewellers avidly sought out the finest pearls to adorn the aristocratic elite.

Examples from the French Art Nouveau are also on display from Vever, Fouquet and Lalique. These pieces differed drastically from their Belle Epoque contemporaries that opted for small, uniform pink pearls from the Gulf. These creative pieces instead displayed the beautiful free forms of baroque and Mississippi pearls, with these designers frequently favouring their unusual shapes and colours, as well as their comparable availability! A personal highlight was this stunning corsage ornament dating to circa 1900 by Henry Vever, designed as a wonderful sprawling flower, the petals in the form of Mississippi pearls with diamond centres and stems, and breathtaking plique-a-jour enamel foliage.

During the height of ‘pearl-mania’ in the early 20^th century, Cartier was certainly one of the jewellers that created the most exquisite pieces, in jewellery and even watches. This exhibition displayed two beautiful Cartier bracelet watches, each with platinum cases and set with natural pearls to the crown, lugs and bracelet. It was in America however that the value of pearls reached its highest point, and in 1917 Jacques’ brother Pierre notoriously acquired his mansion on New York’s Fifth Avenue, acquired in exchange for a double strand pearl necklace.

The 1920s saw the Parisian fashion for pearls extend across the media, with these biogenic gems everywhere, from opera to cinema, literature posters and magazines. The International Exhibition of Modern Decorative and Industrial Arts showcased some of the most spectacular designs of the time and was the impetus for some breathtaking Art Deco pearl jewellery. Whilst the fresh arrival of the cultured pearl from Japan was a part of the public consciousness at this time, “for a while the demand for the natural pearl continued to increase,” only weakened by the economic crisis of 1929 and further with World War II.

Post-war pieces in the exhibition included both cultured and natural pearl pieces, representative of the growth in popularity of cultured pearl jewellery from this point onwards, with many Parisian merchants such as the Rosenthals even moving to Tahiti to reorient their business around the region’s black pearls. Strict trading agreements and initiatives are in place between France and the Gulf region to ensure the sustainability and success of the pearl.

Contemporary pieces on display include the iconic JAR sheep’s head clip, created by the infamously mysterious Parisian jeweller in 2006, and sold at Christies Paris in 2021 for €500,000. Another breathtaking jewel was a the ‘Cadeau Imperial’, a natural pearl, mystery-set ruby and diamond multi strand collar necklace, dating to 2011.

From the sky-high value of pearls during the early 20^th century ‘pearl-mania,’ to the post-war cooling of prices and influx of cultured pearls onto the market, the values of pearls, as with any commodity, are subject to rise and fall. In the last year, we have seen a strengthening in prices for designer cultured pearl pieces, and a continued buoyancy for natural pearl pieces. To ensure your pearls are adequately covered, contact our team today for a specialist valuation.

L’Ecole School of Jewellery Arts was founded in 2012 with support from Van Cleef & Arpels, with schools in Paris, Hong Kong, Shanghai, Dubai and other locations. Created to make jewellery accessible to all and running a fantastic array of exhibitions, courses, podcasts and programmes, L’Ecole is certainly an organisation to be on any jewellery enthusiast’s radar! Paris City of Pearls will run until June of this year.

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].

This Week’s Jewellery Pick

Posted on May 24, 2024March 20, 2025 by Aurélia Turrall

I recently finished the multiple award-winning show The Marvellous Mrs Maisel. And if you haven’t seen it yet, you know what you’ll be doing straight after reading this article!

The main character, Midge Maisel, played to perfection by Rachel Brosnahan is based on Joan Rivers.

Other characters are real, such as Lenny Bruce, others fictional. Created by Amy Sherman-Palladino, it portrays women’s experiences in the mid-20th century, focusing specifically on a young Jewish woman trying it to make it on the comedy scene.

The series is mostly set in the late 50s and 60s and the costume and jewellery are divine. Costume designer Donna Zakowska created a dream wardrobe for all the characters, earning her awards for her creativity.

Not only are the dresses and jewels visually stunning, they add and carry the story, they are a story of their own. Today I will look at the pearls used in the series and especially one set of doublestrand cultured pearls which Mrs Maisel wears for her first official stand-up at the Gaslight Café (a sticky downtown New York club where the great Joan Rivers also performed).

In this moment she experiences great success, slightly undermined by some misogynistic remarks, then put to right by her estranged husband, and the outfit is perfect and effective. A black dress complemented by a pearl necklace.

The double-strand is strung and knotted with 6mm peach cultured pearls. The pearls appear to be uniform in shape, colour and lustre.

And when looking to purchase pearls, these are the most determining factors in assessing pearl necklaces. In this scene, the choice of colour sends the message of softness, being peach and not gold, and also lets us extrapolate that she could become very successful in the future, the pearls being almost golden. Mrs Maisel and her success shine thanks to the peachy colour and also due to the pearls’ lustre. Lustre measures the rate of light reflecting off the surface of the pearl and the sharpness of reflection visible on its surface. We often describe these as poor, fair, good and excellent. The better the lustre, the more radiance and glow they emit.

The pearls are also well matched and round. Their shape in this scene is key. She is trying to make a name for herself in a male dominated industry, all the while maintaining and celebrating her femininity and exposing her marital instability and struggles as a mother. The roundness works brilliantly.

Though the above baroque pearl necklace comes with a generous price tag of £7,500 they would have sent a very different message than perfectly round pearls.

It was common practise to have faux pearls at the time and they were very effective. In today’s market they do not have any value. The costs of cultured pearls vary greatly depending on the factors mentioned above, amongst others. But essentially, their value depends on what they mean and signify to the wearer.

To arrange a jewellery valuation call us on 01883 722736 or email us on [email protected].

Pandemic Pearls – Biggest shock for Years?

Posted on March 29, 2022January 16, 2025 by Annabell Parry

Pearls – the gem that will go with everything, crosses the generations and decades. Safe, predictable, eternal. Is now the time to reassess their value?

Thanks to the Chinese market, there has been a growing production of quality fresh-water and saltwater pearls over the last decade. The downside of this monumental growth is that the market is arguably becoming saturated.

This is borne out in the price of pearls at auction. Japanese salt water Akoya, good Chinese fresh water and even small Tahitian pearls keep on under-performing and can be picked up for next to nothing.

This situation may be about to undergo a seismic change.

If I can cast your mind back to 2020, the world literally stopped. Not only the obvious things such as air travel and carefree shopping, but the thousands of ‘route to market’ supply lines. This included the people who support and make those supply lines run like clockwork – Normality went on hold.

Pearl Creation

The industry of Pearl farming and production walks a delicate tightrope between man and nature. There are many different types of pearl bearing molluscs, who have their own specific growth cycle, but to make a generalisation each pearl mollusc is either dived for by hand or is born, raised and seeded in stringently checked temperatures with the correct food, space and daylight. This process generally can take between 2-4 years of consistent care and attention – this was not possible during the pandemic.

During the global lockdowns, pearl growers, specialists, itinerant labourers and their vital support network all returned home. For the first time in decades, the seasonal flow of global pearl farming ground to a halt as there simply were not enough people to assure the continuity especially for South Sea, Tahitian and fine quality pearls.

Take the case of Paspaley in Northern Australia, a three generation pearl farming family who produce some of the most beautiful pearls in the world. They were so affected by the pandemic that they applied for and received a licence for specialised staff to continue working, but they were only allowed to work on boats moored offshore so there was no chance of Covid spreading. Even with this intervention their normal levels of production were curtailed.

This seismic shock to the usual farming life has caused a gap in the pearl production world and a shadow over future yields over the next few years.

Only time will tell what the quality and yield will be but it is understood by those in the know that it will take 2-3 years to get ‘back to normal’.

The basic economic principal of supply and demand may come to bear with reduced gem quality pearls coming to the market where the prices may harden and quite likely increase. Not only will this hopefully invigorate the auction pearl market but also remind pearl owner’s to have their pieces re-valued. Depending on how this industry is affected, Covid may have caused the pearls in your jewellery box to be very under-valued. A once predictable and safe commodity may have a trick in the tail and prove to be more valuable than they once were.