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JEWELLERY SPECIAL Luxury Investment Index Q2 2017 RESIDENTIAL RESEARCH JEWELLERY SPECIAL Luxury Investment Index Q2 2017 JEWELLERY PERFORMANCE BLUE DIAMONDS INTERVIEW: BARBARA IN FOCUS SPARKLE TAYLOR BRADFORD WEALTH REPORT UPDATE 2 LUXURY INVESTMENT INDEX Q2 2017 Jewellery overtakes cars as wine powers ahead Records tumble as jewellery maintains its robust performance in the Knight Frank Luxury Investment Index It’s all change at the top of the Knight As stones get larger the differential Frank Luxury Investment Index (KFLII). increases dramatically, says Eden Classic cars, which have dominated the Rachminov, chairman of the FCRF. rankings for the past few years, have now Jean Ghika, head of Bonhams’ London slipped back into sixth place on an annual jewellery team, says great care is needed basis with average prices rising by just 2% when buying coloured diamonds. “It to Q2 2017. is a very complex market. Not only are Wine, driven by strong growth in the there considerable differences in pricing key Bordeaux, Burgundy and northern depending on the intensity of colour, but Italian investment-grade markets, has the addition of a secondary colour within now claimed top spot with the year-on- the stone can also impact the value. It is year value of the Knight Frank Fine Wine vital to see a certificate, which should be Icons Index shooting up 25%. issued from an internationally recognised That’s not to say the most collectable laboratory stating both colour and cars aren’t fetching a lot of money. Nine clarity,” says Ms Ghika. cars broke the $5m barrier at the recent benchmark sales in Monterey, California, Artist jewellery with Bonhams setting a record for a Jewellery has always been a Meanwhile, the wider jewellery market Mclaren F1 ($15.6m) and RM Sotheby’s continues to see steady price growth traditional store of portable historic Aston Martin DBR1 going under with prices up 4% over the past 12 wealth. As the best-selling the hammer for an eye-watering $22.5m. months, according to data from Art novelist Barbara Taylor- It has also been a record-breaking year Market Research. This headline figure, Bradford points out on page 5, in the world of jewellery. In June, the however, masks a wide differential in the there are few other investments 18.04 carat “Rockefeller” emerald set a performance of jewellery from varying of passion that you can simply new world record per carat for the green eras and styles (see chart on page 4). scoop up, put in your pocket gem ($305,000) when it went under the Pearls, which had seen a surge in hammer for $5.5m with Christie’s in and run away with in an values over the past few years, have New York. emergency. Hopefully it won’t levelled out and it is more modern In April the Pink Star, a 59.6 carat jewellery that is now setting the pace. come to that for most of us, but fancy vivid pink diamond, snatched the it’s still reassuring to know that “There is a current trend for jewels record of world’s most expensive piece of from the post-war era, where the jewellery has been one of the best jewellery from the Oppenheimer Blue – a emphasis is on design, quality and performing asset classes in our 14.62 carat vivid blue – when it sold for workmanship. These pieces, often Luxury Investment Index over $71.2m in Hong Kong. unique or in limited supply, are easy to the past 10 years. Interestingly, however, blue diamonds wear, distinctive and increasingly are still setting the pace in the wider sought after by discerning collectors,” I hope you enjoy reading market. According to data from the Ms Ghika explains. the report. Fancy Color Research Foundation In particular, pieces designed by (FCRF), the average price of blue stones artists (see page 4 for some of the most ANDREW SHIRLEY rose by 5.5% over the 12 months to June, collectable), rather than established compared with a slight drop in the value The Wealth Report Editor jewellery brands, are in high demand, of pink diamonds. she notes. “Historically, jewellery has At the top of the coloured diamond been a form of wearable adornment, but market, slight changes in colour can have it is now increasingly being considered a huge impact on prices. A one-carat fancy an art form in its own right. Modern vivid blue stone, for example, would be and contemporary jewellery designers worth roughly 10 times more than a one- appeal to collectors who wish to build a carat fancy light blue stone, says FCRF collection of jewellery as they might build (see chart on page 4). a collection of contemporary art.” WEALTH REPORT UPDATE 3 LUXURY INVESTMENT INDEX Q2 2017 Jewellery performance versus other asset classes (to Q2 2017) 10-year asset price volatility 25 Most FTSE 100 PCL* KFLII JEWELLERY GOLD volatile 400 20 £ 300 15 £ 10 £ 200 £ £ £ £ % Volatility 5 £ £ 100 £ £ £ Index (Q2 2007=100) (Q2 Index 0 £ £ Least Art volatile Cars Gold PCL* 0 Wine KFLII Coins Stamps 07 08 09 10 11 12 13 14 15 16 17 Chinese Watches FTSE 100 FTSE Furniture Jewellery Coloured Coloured ceramics diamonds *Knight Frank Prime Central London Residential Index Based on annual price points Source: Knight Frank Research Source: Knight Frank Research KFLII performance by asset class (to Q2 2017) COLOURED STAMPS CARS JEWELLERY COINS WATCHES KFLII ART WINE ANTIQUE DIAMONDS % % % % % % % FURNITURE 1 2 4 4 4 5% 7 25 0% 12 MONTHS CHINESE -3% CERAMICS -12% STAMPS ART COLOURED WATCHES KFLII JEWELLERY COINS WINE CARS CHINESE DIAMONDS 5 YEARS ANTIQUE CERAMICS 11% 11% 24% 42% 49% 50% 61% 117% 15% FURNITURE -13% -22% CHINESE WATCHES COLOURED STAMPS ART JEWELLERY KFLII COINS WINE CARS ANTIQUE 10 YEARS CERAMICS 65% DIAMONDS 103% 113% 142% 145% 182% 231% 362% FURNITURE -2% 89% -32% Source: See back page for details of data suppliers 4 WEALTH REPORT UPDATE LUXURY INVESTMENT INDEX Q2 2017 Jewellery performance versus other asset classes (to Q2 2017) 10-year asset price volatility Gems and jewellery – a sparkling return Pink 189% Most 25 volatile A graphical focus on the performance of diamonds and jewellery FTSE 100 PCL* KFLII JEWELLERY GOLD Blue 89% 400 20Yellow£ 17% Coloured diamonds Jewellery price performance comparison 10-year average price change 10-year change Source: Art Market Research 300 15 (to Q2 2015) £ 10 £ 200 £ £ £ £ % Volatility 5 £ £ 100 £ % £ £ 189 PINK Index (Q2 2007=100) (Q2 Index 0 £ £ Least Art volatile Cars Gold PCL* 0 Wine KFLII Coins Stamps 07 08 09 10 11 12 13 14 15 16 17 Chinese % Watches FTSE 100 FTSE Furniture Jewellery Coloured Coloured ceramics BLUE diamonds 89 *Knight Frank Prime Central London Residential Index Based on annual price points Source: Knight Frank Research Source: Knight Frank Research % YELLOW 17 KFLII performance by asset class (to Q2 2017) Numbers in brackets are 12-month price change Relative value based on Artist jewellery - designers to watch colour saturation* Suzanne Hemmerle FANCY Belperron (founded 1893) LIGHT (1900-1983) COLOURED STAMPS CARS JEWELLERY COINS WATCHES KFLII ART WINE BLUE Much admired ANTIQUE DIAMONDS % % % % % % % Munich jewellery FURNITURE 1 2 4 4 4 5% 7 25 1.00X One of the few 0% house founded 12 MONTHS pioneering female CHINESE -3% in 1893 CERAMICS master jewellers Moonstone and coloured -12% Diamond bangle c1932 diamond earrings – FANCY – £164,500 (2015) £15,000 (2016) BLUE 2.86X Coco Chanel Georges Braque (1883-1971) (1882-1963) Created a range Co-founder of Cubist FANCY of fine jewellery movement with INTENSE as well as iconic Pablo Picasso STAMPS ART COLOURED WATCHES KFLII JEWELLERY COINS WINE CARS BLUE CHINESE DIAMONDS fashion label 5 YEARS ANTIQUE CERAMICS 11% 11% 24% 42% 49% 50% 61% 117% 5.18X FURNITURE 15% Citrine twist necklace -13% c1935 – £68,500 Turquoise-set brooch -22% (2015) c1962 – £8,125 (2016) Andrew Grima Peter Chang (1921-2007) (1944-) Widely regarded Liverpool-born artist FANCY as the known for use of VIVID “grandfather” of recycled plastics BLUE modern jewellery 9.58X Gold, diamond and CHINESE WATCHES COLOURED STAMPS ART JEWELLERY KFLII COINS WINE CARS emerald bracelet – Acrylic ring c2005 – ANTIQUE £3,500 (2017) 10 YEARS CERAMICS 65% DIAMONDS 103% 113% 142% 145% 182% 231% 362% £20,000 (2016) FURNITURE -2% 89% -32% Source: Fancy Color Research Foundation Prices achieved at auction Source: See back page for details of data suppliers *Data correct as of Q2 2017. Based on a one-carat diamond Source: Bonhams 5 WEALTH REPORT UPDATE LUXURY INVESTMENT INDEX Q2 2017 An asset of substance Andrew Shirley talks to one of the world’s best-selling novelists and a leading expert about their passion for jewellery His work is bold and sculptural, colourful one the most widely collected assets on a and playful and I liken this to wearable global level, along with art, watches and art. Tomorrow, I may be drawn to the wine. And it is performing extremely well. works of designer Wallace Chan, and Saying all this, my advice is buy what you the day after, those masterful pieces by love and feel passionate about. If you love Daniel Brush. a piece of jewellery, you will keep it; if you BTB I’m rather impressed by a company keep it, you will wear it. called Verdura, which produces pieces based on the archive of Duke Fulco di AS In your own experience, do Verdura who started designing for Coco tastes in jewellery change and Chanel. The pieces are very unusual what is hot at the moment? and the workmanship is very good. SA Yes. For instance, the interest in Belle The first piece Bob bought me was the Époque and Art Nouveau jewellery has Chanel bracelet, which is made of white been replaced by the more wearable and enamel with a centrepiece of coloured collectible jewellery of the 1960s and 1970s.
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