Tiffany & Co. Gold Necklace, ca. 1870
Watch
GUEST:
It was given by my great-grandfather to my great-grandmother on their wedding day as a wedding present for the bride. And, uh, they were married January 1, 1872. She passed it down to her oldest daughter, which was my grandmother, and my grandmother willed it to me.
APPRAISER:
I see. Well, it's a lovely piece. The necklace is 14-karat yellow gold.
GUEST:
Okay.
APPRAISER:
And it was made in the early 1870s. And the box is also an important part of the story. And if we open up the box here, what we will see is that the inside of the box, it says "Tiffany and Company..."
GUEST:
Mm-hmm.
APPRAISER:
"Union Square." Now, Tiffany is an important retailer and manufacturer of jewelry in America in the late 19th century and certainly for the 20th century. But it's at this time period that Tiffany is really seating the foundation of the business...
GUEST:
Mm-hmm.
APPRAISER:
...that will later become the major jewelry retailer that we know them as today.
GUEST:
Yes.
APPRAISER:
They were still a dry goods dealer, as well. They dealt in stationery...
GUEST:
Oh, mm-hmm.
APPRAISER:
Pots and pans, jewelry, et cetera. Now, they were not a jewelry manufacturer at this time, except for basic wedding rings and small pieces. So chances are, this piece was perhaps made overseas or it was something that they in turn subcontracted. They don't really start becoming a full-time manufacturer until the late 1800s.
GUEST:
Mm-hmm.
APPRAISER:
What's also interesting about this necklace to me is that it also speaks very much of the era. Here we have the cross and the chain, and it's what's called a reeded chain.
GUEST:
Mm-hmm.
APPRAISER:
These are hollow links that are machine-made. Also, what I like about this is that it has a lot of opulence. It has visual weight.
GUEST:
Yes.
APPRAISER:
Even though the piece does not weigh a lot. And this is also in part due to the fact that even though the Gold Rush was in 1849, there's still not as much gold in the marketplace yet. And so the idea was to take a small amount of material and make a very large-looking ensemble.
GUEST:
Mm-hmm.
APPRAISER:
The other important thing to remember is that because this piece is not signed, you always will need to keep it with the box. Because if the box and the piece become separated...
GUEST:
Mm-hmm.
APPRAISER:
...then nobody's going to know that the piece is actually Tiffany.
GUEST:
Right.
APPRAISER:
Do you have any idea of the value of the piece?
GUEST:
Not really. I had it appraised about 20 years ago, and they told me it was only worth the scrap weight of gold.
APPRAISER:
Well, it's certainly worth more than the scrap rate these days.
GUEST:
Mm-hmm.
APPRAISER:
At auction, one would expect to gain anywhere between $3,000 and $4,000.
GUEST:
Mm-hmm.
APPRAISER:
For insurance purposes, it should probably be insured for about $9,000.
GUEST:
Oh, that much? Thank you.
APPRAISER:
You're welcome.
Appraisal Details
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
Appraiser affiliations: Finally, the affiliation of the appraiser may have changed since the appraisal was recorded. To see current contact information for an appraiser in the ROADSHOW Archive, click on the link below the appraiser's picture. Our Appraiser Index also contains a complete list of active ROADSHOW appraisers and their contact details and biographies.
