Sir Elton John is a notably famous musician, whose fortune has led him to acquire a large collection of jewelry including a sizable number of diamond pieces. Those who know anything about Elton John know that he does not endorse subtlety in either fashion or jewelry. His pieces are large, beautiful and expensive.Elton sold his famous “J” brooch along with some other pieces at Bonhams Auction House on the 25th of September, 2008. The brooch was made famous when it was worn in the 1988 music video “I Don’t Wanna Go on With You Like That.” The song fared well in the United States reaching a Billboard number 2 spot. Elton John fans across the globe are familiar with the stunning J shaped brooch. But for those interested in buying the jewel who aren’t so familiar, a photo showing Elton John wearing the brooch will accompany its sale. This also serves as proof of authenticity for the future sales of the piece.
The 1930’s era Art Deco brooch has brilliant-cut and baguette-cut diamonds with oval-cut and circular-cut sapphires. It was created in 1935 and has an estimated value of between $22 and $27 thousand. The brooch is truly an exquisite piece of jewelry that is both valuable for the jewels that comprise it, as well as for its story. The piece is entirely unique, and its new owner will own a beautiful piece of music history.
1930’s jewelry was often in the popular Art Deco style of the era. This style is now making a large comeback, and enthusiasts are rediscovering the beauty that made this style so popular in the 30’s. Art Deco diamonds used in rings were typically old mine-cut or old European-cut. The sharply sloping sides and sharp angles meant that they offered more sparkle than other cuts, but were also more breakable. Evidenced in the “J” brooch is the Art Deco styled use of contrasting colors in a single piece. This style of jewelry loves pairing diamonds with sapphires, emeralds, turquoise, coral and onyx. It was all about making a statement. Elton John’s famous brooch is certainly an exemplary representation of this Art Deco style of jewelry.
Other jewels sold include an 11.05-carat emerald-cut single diamond ring. This piece is estimated to be worth over half a million dollars. Also included is a round brilliant-cut single stone ring weighing 4.57 carats. Another showstopper is a 1905 belle époque diamond pendent necklace. Those who are lucky enough to purchase Elton John’s jewelry will be purchasing exclusive and one-of-a-kind pieces that will only increase in value through the years.
Enduring quality of diamonds means that Elton John’s jewels will have no problem meeting appraised values in the auction despite economic hard times. Experts agree that even in a less than favorable economy, diamonds still sell well. Those who buy diamonds of this caliber are generally less affected by economic shifts. Diamonds tend to hold value through even the most trying of times. Elton John’s jewelry should have no problem finding homes at appraised prices.
Investing in antique jewelry can be a profitable way to gain equity. Now, especially, is a good time to buy. Antique dealers are feeling the economic crunch and are releasing some of their more precious items for sale which may have been locked up in a safe for years. Art Deco pieces from the 1920’s and 30’s are the most desirable pieces because there are so few on the market. 1950’s and 60’s jewels will go for much less. Therefore, it may be lucrative to buy up some less in vogue pieces to hang on to until the market begins to favor them. The Art Deco bandwagon has taken off as values have doubled and even tripled on many pieces. Any style will come back into desirability at some point, and if it is diamond jewelry, it is always in style. A diamond is always worth a diamond at the very least.
There are some tips that every jewelry investor should keep in mind. First of all, keep away from trendy items. Think long term, and what will be in style twenty or fifty years ahead. Buy things that are beautiful and wearable, but keep resale value in mind. Be careful of discounted prices at auction houses. Often times, buyers get excited thinking that they are getting a great deal, when it turns out to be not so fantastic after all. Always be alert for the possibility of fakes. In rare Art Deco jewelry, especially, fakes abound. In many situations, a precious original stone has been broken or lost out of an Art Deco ring. The setting is often sold with a newer/unoriginal diamond. Be sure to ask the jeweler or auction house about the originality of the stone.
The lucky purchasers at Bonhams this week will have bought valuable and unique diamond jewelry that was once owned by Elton John. How many people can say that?