INVESTMENT JEWELS…


In dark and difficult times, there are many ways to placate the gods or hedge one’s bets. Among primitive societies, sacrificing a virgin was much favored, as was amassing hoards of highly portable D Flawless diamonds during the long war-torn centuries in Europe. Here in the 21st century, we are long past believing in the efficacy of virgins (besides, there seems to be a lot less of them around) but diamonds, or for that matter gold, platinum or gemstones in general still might work when all else fails. There’s a school of thought that postulates that when you lose faith in paper (like dollars or stock certificates) stocking up on jewels is the best option but there is a caveat. A renowned New York jeweler who prefers not to be quoted, advised us that all the “unbranded” jewels flooding the market during the past big-spending boom, would likely bring about ten cents on the dollar at resale, so if you’re hedging, according to his advice, buy your stuff from the long-established big name houses or live to regret it. The advice we would add is to buy classics, the timeless and distinctive pieces that are instantly recognizable and have been sold and worn by generations. Such pieces tend to hold their value and are unlikely to drop out of style anytime soon, for example, the delovelies of Cartier, Van Cleef & Arpels, Tiffany, Bulgari and Verdura among others.

You can’t go wrong with a Cartier panther in any of his incarnations, whether he’s a brooch, a bracelet or a ring, but do plan on a diamond pavé cat with emerald eyes or scoop up a pavé orchid, another Cartier signature. In watches, opt for a classic gold Cartier Tank or Santos de Cartier both of which date back to the 1920’s and have graced some of the most famous wrists in the world, one of which might as well be yours. The iconic Trinity (familiarly known as the Rolling) Ring is composed of three interlocking bands of white, yellow and red gold and also dates back to 1925 when it became the favorite of famed French poet and film director Jean Cocteau, who stacked two on one finger and was often photographed wearing them. The original size runs $1,050 but a modern wide version that obviates the need for two costs $1,800. The $3,850 yellow gold Love bracelet, a close-to-the-wrist band that is fastened with golden screws by means of a tiny gold screwdriver, originated in the 1960’s and has been seen of the wrists of A-list power couples ever since. As for Van Cleef, you might think of fairies since one of their tiny fairies is perched on everything from rings to perfume bottles but frankly, we’ve always considered them a bit too twee. We’d opt for a zipper necklace, an idea first suggested by the Duke of Windsor in the twenties that was technologically impossible to make until 1951. The idea of a working zipper made of gold and diamonds still seems incredible but our pet is the all-diamond zipper with a diamond tassel pull; just be aware that it costs serious money.

In watches, it’s the VCA classic yellow gold Cadenas with a double snake chain bracelet and rubies. That’s the watch designed for and worn by the Duchess of Windsor and with all her many character flaws, she knew classy jewelry better than anyone else. Another very distinctive technique developed by Van Cleef is their mystery setting in which stones are pavéd without visible metal prongs. Mystery settings are used in everything from secret watches (another VCA specialty) to rings but we think you should cast an eye on the Magnolia bracelet in yellow gold and diamonds with a ruby flower and emerald leaves. Some of the most exquisite minaudiéres in the history of big nights out have been created by Van Cleef and the Etincelles minaudiére is right up there at the top of the list. Regard it as an investment to be handed down to future generations and be sure to bring your black titanium American Express card with you. When it comes to Tiffany & Co., we tend to think of pearls; not cultured pearls although they offer lengths from chokers to long ropes, but the top quality large South Sea white pearls or the Tahitian black pearls that will always be rare and in demand, either of which will probably fall into the six-figure range. A Tiffany must-have, speaking of great names, is a piece designed by Jean Schlumberger, any piece by Schlumberger. Three gorgeous bracelet designs have been pulled from the archives and reproduced in yellow gold and red enamel and if your pocket can handle the strain buy all three and stack them up your arm. Given the history of Schlumberger pieces, these may someday be vintage and worth a lot more than you paid for them.

Bulgari is famous for their sumptuous and hugely elaborate jewelry worthy of royal vaults but whenever we think of Bulgari, we envision antique coins or cabochon stones on heavy gold-link chains. Their antique coin choker was a society icon in the sixties and while there are modern versions, we are told that there are still some few vintage pieces available and they are worth searching out. Bulgari’s way with warm-toned yellow gold, cabochon stones and brilliant color combinations is very distinctive so almost any piece of jewelry displaying any or all of the above would do it well. We also love the Tubogas watches that were introduced in the 1980’s; wide slithery gold band chains that snaked around the wrist three times with a watch at one end. There are Tubogas chains in chokers and bracelets as well as single watch bands and they are as elegant and very Bulgari as ever. Trying to choose classic pieces from Verdura is almost impossible because they are pretty much all classics. Duke Fulco di Verdura designed for Coco Chanel in the 1920’s and the Maltese Cross cuffs he designed for her would have to be at the top of our list, particularly the very rare vintage pieces that are sold upon occasion. But then, so would the magnificent Wrapped Heart brooch, the heart done in cabochon rubies wrapped and bow tied in a diamond ribbon. It was designed in 1947 as a gift from an adoring husband to his beloved wife and it still ranks as the ultimate lover’s gift.

The Criss-Cross cuff bracelets were inspired by Verdura’s favorite Panama hat and first translated into a golden weave for a cigarette case he made for his friend Cole Porter. They may be had in yellow gold at $9,500, white gold at $9,900, or rose gold at $10,850 and, as with all Verdura’s bracelets, they are most dramatic in pairs, one on each wrist. Another famous pair is the Garbo watch and bracelet, so called because Greta Garbo never left home without them. Heavy gold curb-link chains at $14,750 for the watch and $15,400 for the bracelet, these are most effective worn together and boy, do they ever make a statement. At one time, a very limited edition in sterling silver was made but it’s long gone so you’d have to put in a request and hope somebody de-acquisitions them. With apologies to the great diamond merchants, you may have noticed that we’ve avoided discussing multi-carat diamonds. Of course, if that’s the way your fancy tickles, you should go darken the doors of Harry Winston, Graff or De Beers and stay away from Johnny-come-latelies. To our mind, diamonds are what they are and there are a lot of them around, so unless there’s a really rare color or fascinating provenance on offer, we wouldn’t bet on them. Besides, in dire times, we think it’s easier to sell an interesting piece of jewelry than a great big hunk of sparkly rock.