The Fine Art Group is proud to announce the opening of a new regional office in historic Charleston, S.C., allowing our experienced team of appraisers and advisors to maintain the highest levels of accessibility, transparency and trust for clients in the southeastern United States.
Since its founding in 1670, Charleston has remained a cultural crossroads and retained an extended dialogue with the fine and decorative arts market driving connoisseurship and collecting throughout the region.
TFAG looks forward to taking part in this important conversation by providing clients with the same access to exceptional art market intelligence they have grown to know and expect. Our services include appraisals, visual inventory, collection management, art advisory and continuing education. Details on these services are at our service page.
Shane David Hall, Appraiser & Advisor – Senior Decorative Arts Specialist, will lead the Charleston location. Shane earned Bachelor of Fine Arts degrees in Historic Preservation, Urban Planning and Art History from the College of Charleston, and a Master of Arts in American Fine and Decorative Arts from Sotheby’s Institute of Art, New York City.
With a lifelong enthusiasm for art, architecture and decorative arts, Shane began his career as curatorial assistant at This Historic Charleston Foundation and interned with the prestigious Winter Show. He acquired extensive art market experience at three international auction houses, becoming the Director of Selkirk Auctioneers & Appraisers in St. Louis, Mo. , one of America’s oldest auction firms. Shane is certified in the Uniform Standards of Professional Appraisal Practice and is an active member of the College of Charleston Alumni Association. Hall looks forward to assisting clients in North Carolina, South Carolina, Georgia, Alabama, Mississippi, Louisiana, Texas and beyond.
SHANE’S INSIDER GUIDE TO CHARLESTON
MUSEUMS
Gibbes Museum of Art
Founded in 1858, the Gibbes Museum is the foremost collection of American art that incorporates the story of Charleston and the South. The museum connects the city and regions artistic past to a vibrant contemporary art scene and continued scholarship.
Halsey Institute of Contemporary Art
Housed within the School of the Arts at the College of Charleston, the Halsey originates five to seven exhibitions annually dedicated to contemporary art and focusing on emerging and mid-career artists.
EVENTS
Charleston Antiques Show
The premier fine art and antiques show in the southeast highlighting over 30 dealers of fine arts and antiques showcasing 17th to mid-century modern, English, European and American period furnishings, decorative arts and fine art, architectural elements, garden furniture, vintage jewelry, silver and more.
Spoletto USA
For 17 days and nights each spring, Spoletto Festival USA fills Charleston’s historic theaters, churches and outdoor spaces with performances by renowned and emerging artists in opera; theater; dance; and chamber, symphonic, choral, and jazz music. Spoleto Festival USA is recognized as America’s premier preforming arts festival.
DINING
Breakfast
Miller’s All Day
Celebrating everybody’s favorite meal by shining a spotlight on small batch grains, perfectly turned eggs, delicious proteins, craft cocktails, and gentle surprises designed to delight even the most hardboiled diner.
Lunch
Gaulart & Maliclet
Providing fresh, affordable, healthy, global cuisine with French flair in a social environment that encourages community and the Arts.
Dinner
FIG
Our approach is simple. We have a passion for pure flavor, quality ingredients, and for creating an atmosphere that is convivial, approachable, and a haven for people who simply love food.
THE FINE ART GROUP AT LONDON ART BUSINESS CONFERENCE
On September 4th, Freya Stewart will be speaking at The Art Business Conference.
Now in its 6th edition, The Art Business Conference is an annual one-day conference, held in the heart of London. Through paneled discussions and speeches by leading experts in art, business, and technology, the conference provides an informed global perspective on key issues of the art market, and looks ahead to potential future developments.
Freya Stewart will be speaking on the subject of Demystifying Art Finance in conversation with Financial Times reporter Melanie Gerlis. Their session includes,
“Whether you own your own art collection, are an advisor seeking more insight for clients, or if you just want to know more about this rapidly developing market, this ‘need to know’ expert session will cover the ins and outs of art lending from loan costs and terms to financing for art business.”
Read more about The Art Business Conference here.
WHAT ARE THE “BLUE CHIP” AREAS OF NUMISMATIC COLLECTIONS?
The financial world and the art world effortlessly intersect when it comes to investments in valuable works by “Blue Chip Artists.” “Blue Chip” is a term that originated in finance to describe large and established companies whose stocks have a solid current value and dependable financial future. In the art world, the term has been applied to certain artists who had an established and successful career and predictable, strong and appreciating values for their works on the secondary market. Rothko and Picasso are core examples, where their works are acquired as investments and appreciating tangible assets.
The spotlight is often on significant and recognizable artists of the Modern and Contemporary art market, with both the art world and financial world tracking their sale results and new world records at Sotheby’s and Christies annually. However, quietly and without fanfare, there are incredibly impressive markets for other tangible assets. This includes rare and collectible coins, for which the market of sales and acquisitions surpassed a staggering $4 billion in 2018 alone. Other categories include rare and historical manuscripts, collectible cars and luxury time pieces.
What are the “Blue Chip” areas of numismatic collections? Blue Chip coins, like stocks, are examples that have demonstrated long-term investment security and growth. For coins with numismatic value, which have value surpassing their intrinsic or material value, value is often tied to rarity and grade.
Some of the areas in numismatics which are considered blue chip due to their appeal to serious collectors and a strong and steady value appreciation are the following:
EARLY GOLD
“Early Gold” refers to any gold U.S. coins minted between 1795 and 1839. The first gold coins were introduced in three denominations: the $10 eagle, $5 half eagle and $2.50 quarter eagle. The denominations weren’t printed on the coins, but value was based on its weight, with the $10 eagle being equal to ten silver dollars. These early United States gold coins are coveted by collectors and investors for their historical importance, rarity and value. The most coveted and valuable are high-grade uncirculated examples that can sell into the millions of dollars. One of the most valuable coins in this group is the finest example of the 1795 Draped Bust Gold Eagle which had a mintage of 5,583 coins. However, experts suspect that only 10% of these coins survived. The finest example, part of the D. Brent Pogue Collection, sold for just over $2.5 million in 2015 at Stacks Bowers.
KEY DATES
Coins are produced in certain quantities or mintages each year, with certain dates or particular mint locations being scarcer than others due to only a small number of coins either being minted or a change in production resulting in the original mintage being melted, with only a select few being retained. For U.S. coins, the particular coins produced in a certain year where the mintage or surviving coins is small are referred to as “Key Dates.” These particular coins are some of the rarest in the numismatic world. They tend to sustain and appreciate in value as they are always sought after by serious collectors and investors who have a need to complete a collection. One of the most valuable of these key date coins is 1907 rolled edge Indian $10, which has doubled in value over the last 20 years, consistently selling close to $200,000. The value is due to the original mintage of 31,500 coins being held back before release and melted down. It is suspected under 50 coins were retained for archival purposes.
PROOF GOLD COINS
Proof coins are a limited number of coins produced by a mint to check the dies. U.S. mints began producing proof coins in 1820. In some years only 100 proofs were produced. They can be identified by their shiny surfaces and sharp crisp details and edges. Proof coins are rare and valuable, and coveted by collectors. Due to their limited mintage and the steady appetite of new collectors, the values for the early gold proofs has only increased. One of the more valuable proof coins is the 1907 Saint-Gaudens Gold Double Eagle Ultra High Relief. Then President Theodore Roosevelt had ordered the coin to be re-designed where the relief decoration would be much higher than usual. The mint attempted the high relief; however, the process was complicated and ultimately it was deemed not efficient for mass production. The design was eventually lowered, but in the short term a few ultra-high relief proof coins were produced. These proofs consistently sell above $2 million at auction, with the finest examples selling close to $3 million.
Serious numismatic collectors and investors tend to focus on these three collecting areas due to the significant rarity and the long-term investment that goes with that. With a fixed and limited supply of these early minted coins and demand ever increasing, the investment opportunity is solid and established.
FURTHER READING
- Insider Look at Fine Art, Wine & Trading Cards
- Art & Collectibles: The Rise of Alternative Investments
THE STATE OF THE ART MARKET: SPRING 2019
2018 was a very busy year for both auction houses and the private sector, with global art market sales reaching $67.4 billion up 6% year-on-year.[1] Auction houses and larger galleries are prospering in this market, leaving smaller and mid-sized galleries behind and increasing the disparity between these large and small organizations. Fewer galleries are opening and more are closing as bigger gallery names consolidate both artists and clients.[2] Museums and dealers alike are focusing their attention on diversity and inclusion, highlighting artists of color and women who are experiencing increased exposure in exhibitions leading to an increase in market demand. 2018 was a record year in terms of sales volume and Postwar and Contemporary art remained the leader, followed by Impressionist and Modern. [3]
The art market is not protected from uncertainty and functions like other big markets. In 2016, all major markets declined due to economic and political uncertainties damaging market confidence, with sales losing 16% of their value in the years 2014 to 2016.[4] By 2017, the environment of the market improved for sales with stronger consumer confidence and increased supply at the top of the market. The market realized a powerful and positive gain of 12% in 2017 with the auction sector outperforming the dealer sector. While the mood of the art market in 2018 was slightly less hopeful due to larger economic and political issues impacting investor and consumer attitudes, it did not stop people from buying. More risk-averse buyers and sellers moved into private sales within the dealer market, which experienced a 7% growth in 2018. The auction market advanced by 3%, and there was additional e-commerce growth. [5]
The majority of growth at auction continued to be focused on the top end of the market, leaving the middle and lower segments to be stagnant or declining, a trend reflected in the dealer market as well. In 2018, sales in the auction segment (including both public and private sales auction houses, both on- and offline) constituted 46% of the market, down 1% year-on-year. The dealer segment (including dealer, gallery, and online-only retail sales) made up the remaining 54% of the market.[6] Sales at public auction of fine and decorative art and antiques (excluding auction house private sales) reached $29.1 billion in 2018, an increase of 3% year-on-year, and up nearly 30% over 2016; dealer sales in 2018 reached an estimated $35.9 billion, up 7% year-on-year.[7] The global art market continues to be dominated by the US, UK and China, with their combined sales accounting for 84% of the global market’s total value.
The art world continues to be globalized, bringing in more success for auction houses and larger galleries alike, impacted greatly by technology. Increased integration between technology and the art world has led to a greater flow of information globally, allowing buyers to access images and information on works instantly. Technology is actively influencing how buyers are making decisions and is even going so far as to impact art-making with AI. This has led to the increased importance of online sales; in 2018, global sales in the online art and antiques market reached an estimated $6 billion, up 11% year-on-year.[8]
In 2018, art fairs continued to be a crucial aspect of global art sales and act as a central part of the livelihoods of many dealers. There were around 300 fairs with an international element in 2018, and art fair sales were estimated to have reached $16.5 billion in 2018, a rise of 6% year-on-year. [9]
Over the past decade, sales have generally reached a much higher level making it increasingly hard to establish and maintain continued high levels of growth, especially when coupled with a supply-limited art market. The volume of sales as measured by the number of transactions increased at a slower rate compared to values, growing only 2% year-on-year. The number of transactions reached its highest level since 2008 at an estimated 39.8 million, led primarily by increased sales by dealers in the online sector with fine art auction declining slightly for the second consecutive year. [10]
SEGMENT TRENDS
Contemporary art continues to dominate with booming sales and growth across the board.[11]
Post-War and Contemporary art was the largest sector of the fine art auction market in 2018, accounting for 50% by value and 47% by volume. Reaching sales of $7.2 billion, Post-War and Contemporary art realized an increase of 16% year-on-year, despite a minimal drop in the number of lots sold by 5%.[12] Currently, the Contemporary market is experiencing a big push for both artists of color and female artists. These underrepresented groups are gaining more attention, and specifically there is a growing interest in abstract expressionist female painters. In 2018 the US remained the global center for Post-War and Contemporary art. Looking East, China maintained its spot in second place. The growing Asian market for Post-War and Contemporary art recently has focused on younger, contemporary artists such as Banksy, Kaws, and Jonas Woods. Furthermore, globally, there has been a revival of interest in established artists from the 1960s and 1970s, with more inclusion of female artists and artists of color. Following another strong year of growth in 2018, the value of Post-War and Contemporary art increased by 63% in the past decade from 2008 to 2018.
After Contemporary sales are Impressionist and Modern sales. Behind the Contemporary sector, in 2018 the Modern art sector was the second largest in the global fine art market with a share of 29% by value and 31% by volume. Following two years of strong growth, in 2018 Modern art sales were $4.3 billion despite a decline of 10% in the volume of transactions. [13] Demand for Picasso paintings from the 1960s is as high as ever, as is interest in key members of the Surrealist group, in particular René Magritte and Joan Miro. Behind Modern art is the Impressionist and Post-Impressionist market, a sector which has had mixed performance over the past decade. The sector had a share by value at 15% in 2018, a slight decrease from 17% in 2017. The Impressionist and Post-Impressionist sector constituted 14% of the share in the number of global fine art lots sold at auction.[14]
The smallest of all the sectors in the global art market is Older Master and European Old Masters. Accounting for 6% share of the value of the fine art auction market in 2018 (down 3% from 2017), Old Masters made up 8% of the number of transactions in the fine art auction market. In 2018, the sales of all Old Masters works fell right below $905 million, a 31% decline in value year-on-year. This decline can be partially attributed to the outlier lot in 2017. The sector’s market has declined over the last 10 years, with values at their lowest point after falling 9% since 2008.
FURTHER READING
- State of the Art Market: Insights Into the Spring 2022 Auction Season
- Looking Forward: Ten Art Market Predictions for 2023
- Spring Art Market Recap 2022
Bickar, Betsy. State of the Art Market: Spring 2019. Report no. Spring 2019. April 17, 2019. Accessed July 23, 2019. https://www.privatebank.citibank.com/pdf/State-of-the-Art-Market-Spring-2019.pdf.
McAndrew, Clare, Dr. The Art Market 2019. Report no. 3. Accessed July 23, 2019. https://www.ubs.com/global/en/about_ubs/art/2019/art-basel.html.
[1] McAndrew, Clare, Dr. The Art Market 2019. Report no. 3. Accessed July 23, 2019. https://www.ubs.com/global/en/about_ubs/art/2019/art-basel.html.
[2] Bickar, Betsy. State of the Art Market: Spring 2019. Report no. Spring 2019. April 17, 2019. Accessed July 23, 2019. https://www.privatebank.citibank.com/pdf/State-of-the-Art-Market-Spring-2019.pdf.
[3] Ibid.
[4] McAndrew, The Art Market 2019. Report no. 3.
[5] Ibid.
[6] Ibid.
[7] Ibid.
[8] Ibid.
[9] Ibid.
[10] Ibid.
[11] Bickar, State of the Art Market: Spring 2019. Report no. Spring 2019.
[12] McAndrew, The Art Market 2019. Report no. 3.
[13] Ibid.
[14] Ibid.
NEW PUBLIC SCULPTURE UNVEILED OF CHARLES DARWIN
ON THE WEST SQUARE OF THE TAIKOO HUI DEVELOPMENT, PART OF SWIRE PROPERTIES
On Thursday 27th June, Phillip King unveiled a new sculpture, named after the celebrated biologist Charles Darwin, at its permanent home in China.
The Fine Art Group advisory team worked closely with the commissioner Swire Properties, the artist, and Thomas Dane Gallery on this exceptional commission. We are delighted to be involved in such an important piece of public sculpture, the second work by the artist in China.
Phillip King said at the unveiling, “My feeling on coming here to witness the unveiling of my work, Darwin, 2019, is mostly one of humility at the honour of being perhaps one of the few British artists who will have a public work in this great historic city.”
King, who like Darwin graduated from Christ’s College Cambridge, based the sculpture on Darwin’s impact, through science and history, on the world today and how he helped us see the world in a new way.
THE SCULPTURE’S MEANING
The composition consists of four interrelated elements. The man himself is found in the dynamically raised triangle, positioned on a tilting slope to represent the unknown world. The circle is placed on the corner of the slope symbolising the known world. These elements are separate from a fourth, a square gate through which both living and non-living entities are able to reach the “Great Unknown”. King explains that he included an angled panel in the doorway as a reminder that the entrance is only partially open.
King goes on to explain that he was not consciously of this symbolism when he worked on the Darwin project. The elements “reflect how the eye connects to the brain through a king of developing filter of past memories and acquired conceptions, for example, the use of the triangle, the circle, and the square which go back to the beginning of my sculptural concerns in the early sixties.”
ABOUT THE ARTIST
Phillip King is a British sculptor, born in Tunis in 1934. He studied Modern Languages at Christ’s College, Cambridge from 1954–57, and sculpture at Central Saint Martins College of Art and Design, London, from 1957–58; where he was a favourite pupil of Anthony Caro. Following his studies, King spent a year working as an assistant to Henry Moore and teaching at Central Saint Martins College of Art and Design, London. King lives and works in London.
SELECTED PUBLIC COLLECTIONS
Arts Council of Great Britain
British Council, London, UK
Calouste Gulbenkian Foundation, Lisbon, Portugal
City of Rotterdam, Netherlands
Contemporary Arts Society, London, UK
Cultural Centre, Adelaide, Australia
Government Art Collection, London, UK
Hakone Open Air Museum, Japan
Hiroshima Museum of Contemporary Art, Japan
Musée National d’Art Moderne, Centre Georges Pompidou, Paris, France
National Gallery of Victoria, Melbourne, Australia
National Museum of Art, Osaka, Japan
New Museum of Contemporary Art, Hiroshima, Japan
Prefectural Museum of Contemporary Art, Toyama, Japan
Rijksmuseum, Netherlands
Scottish National Gallery of Modern Art, Edinburgh, UK
Stuyvesant Foundation, New York, USA
Tate Gallery, London, UK
Tel Aviv Museum, Israel
Yale Centre for British Art, USA
RECENT SELECTED SOLO SHOWS
2018 Luhring Augustine Gallery, New York NY
2017 Thomas Dane Gallery, London, England and Galerie Lelong, Paris, France
2015 Kistefos Museet, Norway
2014 Thomas Dane Gallery, Ranelagh Gardens, and Duveen Galleries, Tate Britain, all London, England
2013 Consortium in Dijon, France
2012 Speerstra Foundation, Apples
2011 Flowers Cork Street, London
2008 Bernard Jacobson Gallery, London
2007 Bernard Jacobson Gallery, London
2006 Bernard Jacobson Gallery, London
2003 Jesus College, Cambridge
2002 Place Gallery, Cavagnole, Italy
2001 Bernard Jacobson Gallery, London and Garth Clark Gallery, New York
PROFESSORSHIP
St Martin’s School of Art, London, England 1959-1980
Hochschule der Künste, Berlin, Germany 1979–1980
Professor Emeritus, Royal College of Art, London, England 1980-1990
Professor of Sculpture, Royal Academy Schools, London, England, 1990-1999
President of the Royal Academy, London, England 1999-2004
OUR SERVICES
Offering expert Advisory across sectors, our dedicated Advisory and Sales Agency teams combine strategic insight with transparent advice to guide our clients seamlessly through the market. We always welcome the opportunity to discuss our strategies and services in depth.
ART & INNOVATION AT CHELSEA & WESTMINSTER HOSPITAL
We are delighted to have sponsored The Healing Arts, a collection of essays delving into the story of the arts and Chelsea and Westminster Hospital, from the pioneering arts and design programme to the hospital’s impressive art collection.
Spearheaded by the team at the hospital’s charity CW+ the innovative art and design programme combines live performance, workshops and technology to transform the hospital environment for the patients, their families and staff.
Trystan Hawkins, CW+ Arts Director, commented: “The Healing Arts celebrates the legacy of the arts programme founders at Chelsea and Westminster Hospital, demonstrating how their vision allows us to continue to innovate by commissioning ambitious, bold and daring contemporary art and design that has profoundly positive impacts on patients, staff and visitors. We are incredibly grateful to our community of supporters, who make our work possible.”
The hospital’s art collection is funded, curated and managed by CW+ and has over 2,000 artworks, including a Veronese in the hospital chapel and monumental Allen Jones in the atrium. The fact that many of the donations come from local artists, such as Patrick Heron, Mary Fedden and Eduardo Palozzi, cements the collections position in the community.
Philip Hoffman, our CEO and a member of the CW+ Development Board says “Art serves many purposes, often to communicate, to emote, to create a sense of beauty or to motivate; but within the walls of Chelsea and Westminster Hospital it plays another vital role. Art goes above and beyond, and instead becomes a tool for healing.”
Read more about CW+’s incredible work and The Healing Arts here.
We are delighted to announce that we assisted our clients with the sale of the below works at the British & European Art: Victorian, Pre-Raphaelite & British Impressionist Art on 11 July 2019 at Christie’s London.
Sir Alfred James Munnings
Ned Osborne on ‘Grey Tick’, Zennor Hill, Cornwall
Oil on canvas
25 x 30 in.
Signed ‘A.J. MUNNINGS’ (lower left)
PROVENANCE
with G. Blair Laing, Toronto, 1958, where purchased by the grandfather of the present owners.
EXHIBITION HISTORY
London, Alpine Gallery, Pictures of the Belvoir Hunt and Other Scenes of English Country Life by Alfred J. Munnings, R.A., 1921, no. 40, as Zennor Hill, Cornwall.
LITERATURE
The Field, 21 April 1921, p. 625, as Zennor Hill, Cornwall.
Sir Alfred James Munnings
The Green Waggon
Oil on canvas
25 x 31 in.
Signed ‘A.J. MUNNINGS’ (lower left) and further signed and inscribed
“The Green Waggon”/Alfred. J. Munnings,/Castle House,/Dedham E.’
(on a “War Service” economy label attached to the stretcher)
PROVENANCE
with G. Blair Laing, Toronto, 1958, where purchased by the present owner.
EXHIBITION HISTORY
London, Royal Academy, 1921, no. 554.
Liverpool, Walker Art Gallery, Autumn Exhibition, 1921, no. 937.
LITERATURE
Royal Academy Illustrated, London, 1921, p. 100, illustrated.
The Children’s Newspaper, 21 May 1921, p. 3.
Sir A.J. Munnings, The Second
OUR SERVICES
Offering expert Advisory across sectors, our dedicated Advisory and Sales Agency teams combine strategic insight with transparent advice to guide our clients seamlessly through the market. We always welcome the opportunity to discuss our strategies and services in depth.
The Maharajas & Mughal Magnificence sale
Brought to auction in partnership between Christie’s and The Fine Art Group, the Maharajas & Mughal Magnificence sale achieved the highest total ever for a single owner auction of Indian art and jewelled objects setting three records for Indian works of art. With almost four hundred lots spanning over five hundred years, Maharajas & Mughal Magnificence presented an unprecedented group of jewels, gemstones, and decorative objects that explored the creative dialogue between the Indian subcontinent and Europe.
PIECES FOR SALE
The sale, held on June 14th, 2019 at Christie’s New York achieved:
- $109,271,875
- 92% sold by value
- 93% sold by lot
One of two diamonds presented to Queen Charlotte, wife of King George III by Muhammad Ali Wallajah, Nawab of Arcot. © The Al Thani Collection 2013. All rights reserved. Photographs taken by Prudence Cuming
From the collection of Maharaja Bhupinder Singh of Patiala. © The Al Thani Collection 2013. All rights reserved. Photographs taken by Prudence Cuming
The response to this extraordinary sale was unprecedented. Over 50,000 people attended the global exhibition tour to Shanghai, Geneva, Hong Kong, and London, finally culminating in New York for a marathon 12.5-hour auction. The auction attracted international collectors and institutions from 45 countries across five continents.
OUR TEAMWORK
As part of our Advisory service, The Fine Art Group managed the sales strategy on behalf of the seller; from negotiating terms with the auction house and driving the marketing strategy to publicizing the collection to our own private network of collectors. Philip Hoffman, Founder and CEO, The Fine Art Group, remarks: “I am honoured that The Fine Art Group were able to play a part in this record-breaking sale of Indian and Mughal Jewellery, art and objects. The success of Maharajas and Mughal Magnificence is testament to the hard work of the Christie’s team, led by François Curiel, Rahul Kadakia and William Robinson.”
Highlights included a number of pieces by Cartier such as a Belle Époque Devant-de-corsage, by Cartier, Paris, 1912, which sold for $10,603,500 to an in-room bidder; a pair of emerald, natural pearl, ruby and diamond clips by Cartier achieved $1,695,000; and the ‘Taj Mahal Emerald’ brooch by Cartier which sold for $1,815,000.
In addition, the exceptional Golconda Diamond Rivière Necklace, from the collection of the Nizams of Hyderabad, sold for $2,415,000; the Shah Jahan Dagger achieved $3,375,000; and the Mirror of Paradise realised $6,517,500.
These objects were offered from The Al Thani Collection. From 2021, works of art from this encyclopaedic collection will be shown at a new museum space in Paris. In addition to new acquisitions, sale proceeds will support ongoing initiatives of The Al Thani Collection Foundation which extend from exhibitions, publications and lectures to sponsorship of projects at museums around the world.
OUR SERVICES
Offering expert Advisory across sectors, our dedicated Advisory and Sales Agency teams combine strategic insight with transparent advice to guide our clients seamlessly through the market. We always welcome the opportunity to discuss our strategies and services in depth.
We asked our Jewelry Advisor Raymond Sancroft-Baker to give us his top tips on buying and collecting jewelry.
FIRST QUESTION
When you are thinking of buying a piece of jewelry or a gemstone you must ask yourself two questions, ‘Do I like it’ and ‘Can I afford it’, if the answer is yes to both, go ahead and make the purchase.
BUY QUALITY
I would then look for the best quality jewel I could afford. So often people have bought lots of minor pieces ‘because they were cheap’. There will always be inferior items for sale but jewelry of real quality is rare and always will be. Remember the best gets better. Of course, price is always a consideration but it is preferable to purchase four or five good jewels rather than ten ordinary pieces.
WHERE TO BUY: RETAIL
Walking down Bond Street there are numerous retail jewellery shops to visit. Graff will show you the finest diamonds and gemstones available. Cartier, Van Cleef & Arpels, Boucheron and Tiffany will be able to offer you a broad range of contemporary jewellery as well as a small selection of their vintage pieces. You will see a very wide range of jewels from the low thousands to the high millions. There will be an extensive choice and the benefit of immediate purchase, but you will be paying retail prices as having a shop on Bond Street is very expensive.
WHERE TO BUY: AUCTION
Alternatively, if you go to an auction house to buy your jewellery you will have limited choice. Sometimes there is a good selection from a deceased estate (the family will retain the most wearable!), or someone is elderly and has no occasion to wear their jewellery. Christie’s, Sotheby’s and Bonhams all have auctions and offer a wide selection of gems and jewellery from different periods to choose from. The prices will be lower than retail but make sure you understand exactly what you are buying and look at the condition report as well as asking the specialist their opinion.
INVESTMENT
There is always an implication in the word ‘investment’ that values will rise, I prefer to call jewelry a ’store of value’ and over time good pieces bought at the right price will keep pace with inflation. If you buy retail you will have to wait many years to get your money back and at auction there are fees when buying and selling so it is important to like and hopefully wear, the jewelry you purchase.
VINTAGE JEWELRY
If you like a particular style, be it Belle Epoque or Art Deco make sure that the piece in question is actually from the period. There are a number of clever imitations on the market that can easily fool the layman. So make sure the vendor states in writing that the piece they are selling is Belle Epoque circa 1905 or Art Deco circa 1930. Jewelry from these eras will always display some natural wear and have a soft feeling as opposed to new pieces that will be rather sharp in the hand.
CONDITION REPORT
It is always advisable to request a condition report whether you are buying from a dealer or an auction house. This should give you a complete picture of the gemstone or jewel as it is important to know exactly what has happened to the item. Small changes like ring sizing or minor repairs are normal but major alterations could make re-selling difficult.
CERTIFICATES
Nowadays, more than ever, it is essential to obtain a gemmological report if you are buying an expensive gemstone or piece of jewelry. Pearls are notoriously difficult to judge if they are natural or cultured so it is imperative to have proof that they are natural from a recognized laboratory. Rubies, sapphires, emeralds and pearls should have a report, ideally from the SSEF (Swiss Gemmological Institute) in Basel or Gubelin in Lucerne. The same principle applies to diamonds and the foremost laboratory is the GIA (Gemological Institute of America).
SIGNED JEWELRY
It is certainly preferable to buy a signed piece of jewelry as it inspires confidence that it has been made to a certain standard and that the stones used in its manufacture are superior to a similar but unsigned piece. Some will be numbered as well as signed which means that it could be traced back to it’s place and year of manufacture. A jewel by Cartier from the 1930s is certainly worth double an unsigned piece and this can be justified by knowing one is buying good design, excellent color combination and of quality manufacture.
COMPARISONS
Finally shop around, there will be many people wanting to sell to you and there are lots of places to visit. Grays Market at 58 Davies Street has numerous jewelers as does Burlington Arcade apart from the well-known brands along Bond Street. And one final piece of advice, don’t be tempted to buy treated stones or synthetic diamonds – however cheap they might seem.
Let Our Advisors Assist You this Father’s Day
Let The Fine Art Group assist you with finding the perfect gift for Father’s Day. Our Art Advisory team reviews art fairs and all major auction and dealer catalogues. We are positioned to be able to source the rare and unique, whether it be jewelry, fine art, wine, rare books or other decorative arts.
American Art & Pennsylvania Impressionists
June 9, 2019
Benton Murdoch Spruance (1904–1967)
Forward Pass
1944
Edition of 40.
Pencil signed ‘Spruance’ bottom right; also titled bottom center and inscribed ‘Ed. 40’ bottom left
Color lithograph (with five colors) on paper
Image size: 20 1/16 x 12 1/2 in.
Sheet size: 23 x 15 5/8 in.
Printed by Cuno.
[Fine/Looney 231]
Estimate $3,000-5,000
PROVENANCE
Private Collection, Philadelphia, Pennsylvania.
Exclusive Watches Sale
June 6, 2019
Rolex
GMT-Master Ref. 1675 in Steel
1967
Ref: 1675
Case Number: 1830596
Case Material: Stainless steel
Case Dimensions: 40 mm in diameter
Dial: Black with luminous hour markers, date aperture at the “3” hour marker
Bracelet Material: Rolex signed ref. 78360 in stainless steel
Bracelet Size: 6 3/4 in.
Movement: Automatic
Functions: Time, date, GMT
Caliber: 1575
Estimate: $5,000
Finest & Rarest Wines Sale
Petrus 1992, Pomerol
Excellent levels and appearance, WA 90, 8:5 bts (owc)
Estimate Per Lot: $6,500-$8,000
Fine Books and Manuscripts
June 13, 2019
John Fitzgerald Kennedy (1917-1963)
Profiles in Courage
New York: Harper & Brothers, 1961.
Estimate: $2,000-$3,000
The David Gilmour Guitar Collection
Lot 6
Gibson Guitars
GIBSON INCORPORATED, KALAMAZOO,
1973
A Solid-Body Electric Guitar, Les Paul
Estimate: $2,500-$3,500
NOTE
Orville Gibson, who in 1894 worked as a part-time shoe salesman and restaurant clerk in Kalamazoo, Michigan, possessed a dual passion for music and woodworking. Although Gibson lacked any formal training as a luthier, it was his creative thinking, at the nexus of these two passions, which convinced him that he had the means to greatly improve guitar construction.
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