When making a high-ticket purchase, examine the descriptions carefully in consultation with a gemologist. If a fabulous 30-carat sapphire does not list "natural" or "untreated" in the catalog, then it has probably been enhanced. Today, there are a growing number of sophisticated methods for perfecting diamonds and gemstones that are increasingly difficult to detect. While an enhanced stone can appear as exquisite as a natural gem, buyers must identify these characteristics in order to properly assess its value. Furthermore, some heat treatments may impact the durability of a stone over time, and an emerald that is oiled for improved clarity may require re-oiling to maintain its beauty in the years to come.
Even a signed piece should be carefully examined and certified to ensure authenticity. A beautiful Art Deco design might be listed as a signed Cartier piece, whereas, in fact, a stone may have been replaced, or it may have been altered from its original design in some other fashion. Interested buyers of such an item should consult an expert at Cartier, who, for $1,200, will provide an Authenticity Service that confirms the provenance of its pieces. The house needs at least two to four months to authenticate a design.
"A certificate that authenticates a Cartier piece will increase its value tremendously at auction," notes Stanislas de Quercize, president and CEO of Cartier. The house receives numerous requests to authenticate jewelry and watches that turn out to be altered designs or fakes—some of which were purchased at reputable auction houses. "We have seen many people leave in tears when they discover they have purchased a fake," he says.
"Anyone serious about building a beautiful jewelry portfolio that can be worn and enjoyed or passed on as heirlooms should consult a certified gemologist independent of the auction house," Matlins cautions. Most large jewelry auctions tour major cities worldwide prior to the sale, giving clients the opportunity to bring their own gem consultants to carefully examine pieces. Even a novice, though, can gain knowledge and confidence by consulting the auction house’s own staff of qualified gemologists and appraisers, who are readily available to meet privately with clients about specific lots and investments.
Hubbard advises her clients to purchase the very best in any given category for a more secure investment. She recommends, for example, that a client buy a D-flawless 5-carat diamond over a 20-carat mediocre-quality diamond. "Exceptional quality is always rare and desirable."
The demand for high-quality, natural gems is reflected in a recent Sotheby’s auction where a natural 5.33-carat oval ruby ring, flanked by triangular diamonds, fetched approximately $363,690. The ruby, certified as Burmese with no evidence of heat treatment, had a pre-sale estimate of $250,000 to $350,000. Smart buyers, on the other hand, can uncover good value at the auction if they are observant. "Most people overlook an ugly piece of jewelry at auction, but I advise clients to consider the stones in the design," says Matlins. "Sometimes the sum of the parts is greater than the piece."
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