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Summertime Jewels: Analysis of Sotheby’s Online Auction

August 2, 2017Michelle

Summer has its moments but I’m excited for the Fall auction season to begin! While I wait there are a few auctions happening now. I ran across an article the other day on Sotheby’s website about their Specialist Picks: 10 Stand Outs from Jewels Online. The jewels on auction belonged to Marjorie S. Fisher. For this post, I want to look at a few key points to learn more about the items on auction. Look at Sotheby’s top picks and then give you 5 of my favorites.

The auction as a whole

What to know:

99 lots total
18 are marked by a designer
81 do not have a designer identified with it
Over 60% are estimating to sell between $5,000 -$12,000
Range of estimates $3,000-$60,000

Graph breaking down the types of jewelry by count of lots.

The biggest surprise is that only 1 ring is for sale. A colored diamond ring that is a top pick of Sotheby’s. Not sure if that is intentional or not. Besides that, the variety is very good in my opinion. Mrs. Fisher had an amazing collection so it is not hard to pick a great piece from all the options. So let’s see what the specialist picked!

Sotheby’s Picks

A nice variety of pieces but a little heavy on the diamonds and price. Two of the picks are estimating to go as high as $60,000 (the 2 lots at the end, 96 & 99). It is a good start for building a solid collection but Mrs. Fisher had some fun pieces that should also be considered.

My Picks

I went for more warm colors. It is summer! Corals, citrine and gold caught my eye. The Michele Della Valle coral and diamond necklace (lot 2) is all you need with a great summer dress to go out for evening events. My favorite piece is at the end, Lot 40 the Egyptian inspired ruby, emerald, sapphire, enamel and diamond brooch! Very unique even among Mrs. Fisher’s items.

The auction ends tomorrow so bid now! If you saw another item that you really liked but is not listed above please comment below and return soon for more Data in the Rough!

Evolution of the Jewelry Industry in America: Colonial Era

July 20, 2017Michelle

A lot of talk has been made about the future of retail. I cannot walk down a street or look out a window on my commute without being reminded of the shift in consumer spending. Store closing and out of business signs seem to be popping up in Boston and online. Type in ‘store closing’ and see what that search brings you the words: panic, scramble and apocalypse were in the three stories at the top of my list. Much of the retail ‘apocalypse’ talk has been pointing to the apparel part of the industry. The question I ask seeing these stories is what does this mean for the jewelry industry?

To be able to better understand the future it helps to understand the past. A very overused saying but still insightful. For the rest of the month I want to focus on the jewelry industry in America. This will be a return to my book bling series by focusing on one book: Jewelry in America (1600-1900) by Martha Gandy Fales. It is divided into 4-time periods:

[1] Colonial (1600-1775)
[2] Federal (1775-1825)
[3] Mid-19th Century (1825-1875)
[4] Late 19th Century (1875-1900)

This book is more than just pictures of antique jewelry Ms. Fales looks at trends of the country and how the jewelers and jewelry stores evolved. That is how we will learn and be better prepared for the future by recognizing how trends in the country affect trends in the jewelry and the industry.

Confucius states it best, ‘Study the past if you would define the future’. Why use a quote by a Chinese scholar that lived long before the time America was founded? Because the beginning of this story starts in another country, long before America became a country of their own…

In the beginning
History tells of the Pilgrims that came over from England to worship without persecution, but traveling to a new world was typically for trade or war over resources. In 1608 John Smith was with a crew to look for new resources. Settling in what is now Virginia, Captain Smith thought practically about creating an environment for survival not treasure hunting. Reading Fales stories about Smith reminded me of the 1995 Disney movie Pocahontas. So much of that movie was inaccurate but some of the plot was following history, the villain and leader of the crew, Governor Ratcliffe, is in a mad fever to find lots of gold, but the men have no real experience with it, they are hunters and builders not goldsmiths. But that doesn’t stop Governor Ratcliffe from having the crew devote their time to digging.

Disney Pocahontas scene: Governor Ratcliffe has crew dig for gold

Well in real life goldsmiths were sent over with Smith’s crew due to the false hope of their being large amounts of gold found. In fact, the crew included two goldsmiths, two refiners and a jeweler, none of which could practice their craft in the new world. What happened when there are no materials and few customers? The jeweler returned home to England.

Realistically, the crew needed to hunt and settle the land (build shelter, etc) to survive. Like Smith was doing in the movie as he surveyed the land.

Disney Pocahontas scene: John Smith explores new world

Had to sneak of photo Disney’s John Smith in!

Once more colonists settle trade picked up but the role of the jeweler was much different than it is today.

What was happening in this period?
• People were settling in America
• English influence
• Low morality rate

I mention the top two points in my story above but to touch on the last point, with this new land came disease and poor conditions of living that lead to deaths at an early age than we have now. Death was a major part of colonial life a fact that the people embraced and accepted as best they could.

How did these events affect jewelry trends?
As people came to America and started a new life they bought some jewelry with them but the trend in this era was simple jewelry. Colonists did not have a major need for extravagant jewels when they are doing daily chores. Also, many of these colonists had religious influence that did not put a lot of value on jewelry.

With the English being the ones who lead the start of the colonies in America, England held a major influence over the jewelry brought into the country. Colonists had their jewels brought from England and imported jewelry for buying. Jewelry was also still primarily for nobility and the rich. In addition, the trend until the late 17th century was that men wore far more jewels than women. Signet rings, buckles, buttons, etc. all sparkled on men with a high status.

With a low morality rate, memorial jewelry was a major trend. Lockets, rings, cameos, anything to mark the remembrance for those that had passed.

What gemstones were popular at the time?

Cannot fit all the jewelry I’d like to in this post but a great example of garnet jewelry from the time with a famous owner. This necklace was owned by Martha Washington, America’s First, First Lady. Order from London (no surprise there) by her husband George in 1759. Photo courtesy of Mount Vernon Ladies Association, Virginia.

What was the role of the jeweler and jewelry store at the time?
Neither really existed at the time. There were not dedicated jewelers or jewelry stores. Silversmiths/goldsmiths doubled as jewelers and sold some wares in their shops. Not much was made with limited materials, skills and customers. Those that could afford the good jewelry bought from England, the most trusted source of jewelry at the time. England also had higher taxes on imports from other countries so English jewelry was what was most commonly sold.

I personally loved reading about a famous American patriot, silversmith and budding jeweler. Paul Revere was a Bostonian that has several silver pieces in the Museum of Fine Arts Boston as well as a ring I got to see on a trip there last winter.

There were a lot of years in this period but not too much happening in the world of jewelry in America. Next, I will look at the Federal Era and America’s freedom from England and how that made great changes for the jeweler and the stores! Sign up for emails and return for more Data in the Rough!

Reevaluating Your Social Media Plan with 3 Lessons from a Tortoise and a Hare

March 13, 2017Michelle

Two years ago, this month I started posting on Data in the Rough. The time felt right to continue working on something I was passionate about, jewelry and analytics. I have not done as much analysis as I would like to but I see that as an improvement not a failure. With the holidays’ over and winter in its last stages, it really is an ideal time for anyone that has made a resolution to reevaluate their goals and benchmark their progress. For me it is focusing a little more on driving insight and results through data around me. One way is to refocus on my social media plan.

I am on the usual platforms: Facebook, Twitter, Pinterest and Instagram. I have also consulted a few people on their social media for their personal or business use, mainly Facebook and Instagram. The comments and questions I get center around followers, engagement, content to put out, protecting your intellectual property and return on investment, to name a few. All these platforms have different audiences and expectations. So how does a small business owner or someone looking to create their personal brand do it and not waste too much time? A strong and adaptable social media strategy!

To do that you need a plan and a focus. For that I have 3 suggestions as you find the right social media plan and strategy. Since this blog focuses on the jewelry industry I am going to use jewelry from Christie’s auction house to highlight some important lessons from the Aesop fable, The Tortoise and the Hare, that you can apply to creating a stronger social media plan.

Rabbit – by Kutchinsky sold for $10,032 at Christie’s London Auction, gold and gemstones; Turtle – by David Webb sold at Christie’s online auction, gold, platinum, lapis lazuli, mabe pearl, diamonds

So you want to join the latest social media craze, everyone is talking about it, everyone seems to be on it. You should be too, right?

Look at what you are currently doing and see if it is possible to effectively use this new tool. The tortoise challenged the hare to a race, not to prove the tortoise was faster but that he could beat the hare. Can you see yourself benefiting from this new platform? Are your customers asking about your presence on this platform? Is your target audience on this platform? How much time are you willing to spend or pay someone to spend?

Rabbit- by Cartier sold a Christie’s Geneva Auction for $18,118, gold, ruby, enamel; Turtle- artist unknown sold for $15,000, diamonds, pearl

Look at your own attention span and current social media platforms you are on. Do you have patterns that may make it difficult to focus on starting this new social media tool? How can you improve your current social media accounts to learn about yourself and your business moving forward. The hare is clearly faster but he got distracted comparing himself to others. Taunting the tortoise on his slower strategy without thinking about his own did not change either racer.
Turtle-unknown artist, online auction, emerald, diamond, ruby; Rabbit-by Raymond Yard sold at Christie’s for $37,500, diamond, multi-gem
Don’t compare yourself with others on social media. This is the hardest and most important thing to remember when online. It is hard not to see others bounding ahead and you continue to inch by or feels like you are standing still. The tortoise (turtle) knew that the hare (rabbit) was faster but his slow and steady pace worked for this one race. As I mentioned above, had the rabbit worried about his own progress and not of the turtles then he would have easily done better by finishing the race at his own pace. The rabbit got distracted by the turtle. There are times you’ll feel like the tortoise and see lots of ‘wascally wabbits’ pass you by.

Turtle- by Van Cleef & Arpels sold at Christie’s online, pink and blue sapphires,gold; Rabbit-unknown artist sold at Christie’s London for $893, gold, diamonds, ruby

They get featured on a blog or have a photo that earns them a lot of likes and followers. That kind of thing happens with the world of social media and ‘overnight’ success stories. You need to only focus about your brand and your story. A clear focus and some daily effort can get you a clear path to your own finish line!

That also leads to another question you need to answer, what will be your primary measurement of success for this platform? Using money as your only way to gage success can leave you missing valuable opportunities. For the jewelry industry, it can take several visits either in a store or online before a purchase is made. The platform you choose to be on is another touch point. Somethings to consider when looking at measurements for your return on investment:

Can you sell on this platform?
How secure is the payment method?
Will this affect your relationship with other stores that sell your product?
Is your supply chain agile enough to take an increase in your business? Do your other vendors/suppliers have other clients that may take a higher priority?

So then how can you make progress for your brand if money is not a great metric? Some suggestions for other metrics:

Brand awareness-Getting more people interested in your brand could lead you to be picked up by a store or featured on a blog.
Getting a specific message out- Are you supporting a cause that is affecting a greater population? I have seen companies that are wanting to make money but also have social issues that need to be addressed, like ending human trafficking.
Engagement with your customers-Social media is a great way to get feedback and test out new ideas with your fan base.

This is only a starting point. I am going to continue to look at different social media platforms and tools to see what might help you in moving forward with your social media plan. It’s a race with yourself that will determine your outcome. Keep following Data in the Rough for more on jewelry and the data behind the diamonds. Let me know your thoughts on the subject and what platforms you’d like to hear about. Instagram is a favorite of mine so I’ll be posting a bit more on that throughout the next few months. As a thank you for reading this post below are my two favorite pieces of jewelry that I found when looking for turtle and rabbit jewelry to use for my blog.

A pink diamond and white diamond rabbits’ brooch with a ruby by Graff sold at Christie’s Hong Kong Auction for a little over $129,000. The turtle is an antique brooch sold a Christie’s auction for $70,500 and is made of opals, diamonds and rubies!

Joseff of Hollywood: Jeweler to the Stars

October 30, 2016Michelle

When choosing what you want to be for Halloween, the costume is the first start but what about the jewelry and accessories? Have you dressed up as a princess, Egyptian Queen or Southern Belle? If you have dressed up as your favorite movie character I’m sure you put some thought into the accessories. Well the jewelry about from the movies The Little Princess, Cleopatra, and Gone with the Wind all had the same company supplying and creating the jewelry, Joseff of Hollywood.

I had known of the company for quite some time, the office that houses these Hollywood treasures is still running and located in California. You can read more on that in this article but I am reviewing the book Jewelry of the Stars: Creations from Joseff of Hollywood by Joanne Dubbs Ball. It was published in 1991. Which has now been 25 years but still a great book because Joseff’s wife was involved in the making of this book, otherwise the stories and extenstive photos of the jewelry created would not have been so in depth. The book is an easy read, divided into 8 ‘scenes’. Starting with the movie production beginnings and ending with the present state of the company. I will briefly cover some main points but not go too detailed so those interested in buying or borrowing the book can do so and not have all the interesting facts given away.

So in the beginning…

Movies produced had costume designers but a lot of the jewelry was real and belonged to the actress. This does not seem like a big issue but if a period piece on the early 1800’s is being made and an actress in the 1920’s has on trend jewelry the scene does not feel as authentic. You could try and buy period jewelry but again it may not suit the character and role being portrayed. This can also get expensive and hard to find.

Joseff’s full name was Eugene Joseff but many thought Joseff was his first name so he answered to that as well. Joseff was born in 1905 to Austrian parents in Chicago, Illinois. We he started out on his own his first attempt at business failed largely due to the Great Depression so Joseff headed to California to try it again at the jewelry business. His younger brother also went with him to be a part of the business.

In 1934, Joseff saw a movie starring Lucille Ball as a lady-in-waiting set in the 16^th century he was distracted by her 20^th century jewels. He knew the costume designer and went to complain about. The costumers’ response, ‘Well, if you’re so smart, let’s see what you can do.’ Well Joseph did and soon he was designing jewelry for most of the Hollywood movies. Joseff had studied jewelry and its history so he had an idea of what a piece should look like. He also did a lot of research to get the jewelry historically accurate.

What I loved most about the book besides the beautiful photos was that it talked about the business side of the business and the strategy. Joseff was great at creating jewelry but he had so areas that he needed to improve, I will touch on 3 important ones.

1: The Manufacturing: Joseff had to use outside artisans to create his jewelry, this worked if they could fulfill Joseff’s artistic vision on a piece. There were a few times that the manufacturer claimed the request could not be done. So Joseff knew he needed to spend the money to create his own in-house manufacturing. So, that he could work on those denied requests and he could achieve the designs he created. So, that was one problem solved.

Would not want to attempt to recreate this!

2: Selling his Jewelry: The time and effort going into this historically accurate jewelry was costly and time consuming, especially considering the early times when Joseff did not have the jewelry manufactured in house. So Joseff reached a deal with the production team. He would rent the jewelry to them. This was a win/win for both parties. For Hollywood, the cost was reduced by not paying full price and the headache of storing and finding it again was eliminated. For Joseff his creations would not need to be recreated and he would insure they would not get tossed out or forgotten in his archives. I loved this aspect of the story of Joseff. You can some of his jewels reused in several movies. Below is a movie that starred Angela Lansbury (left) the middle photo is Vivian Leigh and on both is the stunning necklace on the right.

3: The bookkeeping/other business matters: Joseff did have some good business sense. However, he was not great at bookkeeping and other business related tasks. He recognized that and called a local business college to send over their best and brightest to help. For the University of California Los Angeles that student was Joan Castle. She quickly assessed that the design part of his business was consuming every moment which is why other business aspects were causing some troubles in his business that would grow worse without any one to fix them. Joan and Joseff worked long hours to get the business on the right track and somewhere in all of that they fell in love. Joan described Joseff as handsome and charming, it was love at first sight for her.

The story of them getting together is one you should read from this book. It was romantic, funny and filled with some twists. A perfect script for a Hollywood movie!

Movies was not to be Joseff of Hollywood’s only revenue stream. Since Joseff’s work was becoming so well-known he decided to go into the retail business. He sold creations seen on the stars he accessorized and made copies to sell in boutiques across the country. He was selective in who sold his jewelry and it was a major success and is still highly collectible. Some of the stars and the retail jewelry below.

Unfortunately, Joseff’s success was short lived. On September 18^th, 1948 Eugene Joseff died in a plane crash. Joan was scheduled to fly with Joseff but had to cancel when some unexpected circumstances came up. The other part to make this more tragic was Joan and Joseff had an 11-month-old baby boy who would never know his father. Joan was inconsolable for weeks but with her resolve to be both mother and father to their son and continue with the business Joseff started she did get back into a routine. She even designed jewelry going forward but with lots of research and photos/paintings from that period to reference.

I loved the book and hope another is made maybe with the story on the manufacturing and suppling Hollywood in the modern day. Let me know if you have read this book. If you have any Joseff of Hollywood Jewelry, I’d love to know how you like it! Have a safe and Happy Halloween! Check back later for more Data in the Rough!