Recently, a California dealer found a real treasure at a local Los Angeles auction. It was damaged and short and he didn’t know what to do with it, so he asked us to partner with him to purchase it because we have two Master Jewelers, one who is an expert at laser welding and another who is a trained European Master Jeweler.
He was able to buy this for an advantageous price of only $5,000, and asked if we could fix the fine filigree, replace the old cut diamonds, and repair the bracelet. A similar Buccellati would go for $60,000 to $80,000; but this one, slightly mangled and short, was problematic.
Our Master Jeweler has it about 80 percent complete, and as you can see, it looks like a million bucks (although it is still missing some stones, which we will replace).
Valuation is interesting, because Christie’s has given it a low auction estimate of $20,000 to $30,000. We feel that once the restoration is complete, the final selling price will be closer to $30,000-$40,000.
As always, these kinds of things are a gamble — but we are willing to gamble on fine artisans like Buccellati, Tiffany, Cartier, and Van Cleef & Arpels.
If you have fine jewelry you would like to sell, or that needs repair, pay us a visit. If you need an appointment in St. Petersburg or Tampa, give us a call or email JeffreyPHess@aol.com. ALL RIGHTS RESERVED.