Island Life Magazine Ltd February/March 2011 | Page 66

antiques Philip Hoare - F.T.V.I Island Life - February/March 2011 Antiques and Collectables Don’t undersell your valuables! When in doubt, check it out Having spoken to numerous friends and colleagues on recent occasions I have noticed a thread in conversation that persists throughout. ‘Times are hard’ and ‘It’s just not that easy at the moment’ they agree. This, I’m afraid to say, seems to be the case for the majority; we can no longer entrench our faith in the infallibility of the pound note, which is, after all, only a contract between the bearer and the bank. How can we trust this system now and what value does that paper really have? Money is simply man made - it’s numbers on a computer screen. However, there is value in rarity and tactility. Therefore we trust Gold. Gold is a precious metal that not only holds its value but also fluctuates with the market and it is in this depression that Gold has increased substantially in value. So, during this downturn we inevitably turn to that auriferous and gilty pleasure - Gold. At the time of writing this article, Gold stands at £21.00 a Gram and Silver at £15.50 a troy ounce. Gold has quadrupled since 2001, when it was only £150 an ounce. Is the bull market over? I don’t think so. In these uncertain times, investors internationally are turning to Gold as a ‘safe haven’ investment, especially as the central banks are printing paper money and the budget deficits in the West continue to rise. There are also pressures on the US dollar’s status as the global leading currency. A most worrying situation. So in the foreseeable future, Gold will remain a safe option, even if the market levels out. The advantage with Gold of course is that it is readily available, which brings me to the substance of this article. If you possess any Gold and are considering selling, it is essential that I make you aware of the dual value of Gold. Yes, Gold is valued with regard to weight and carat but that is defined as ‘scrap value’ only. The other value of Gold is more important, and can increase the market price of a piece to quite literally 100-fold or more. Provenance: Age, workmanship, quality and rarity. Before you put your Gold into an envelope and send it off, it is vital that you have your Gold looked at and its provenance established. So many of the pieces now being sold to bullion dealers are being hugely undersold through a simple lack of knowledge. A small, rare medallion, for example, was sold at auction in November for £10,000. The metal scrap value would have been less than £100 and it was bought on the IOW with various scrap Gold for its weight value only! The owner had not been sensible enough to t ake advice from an impartial expert who would have carried out the necessary research - hence my old adage ‘when in doubt, check it out’. Knowledge is of paramount importance and I am always ready to carry out the necessary research and analysis on behalf of my clients. A Bond Street Jewellery and Silver buyer will be attending at my offices every Thursday and Friday between 10am and 4pm. He has over 35 years experience and is a long-standing member of LAPADA. You can be assured of the true value of your Silver and Gold before making the mistake of selling for weight, or scrap value. Home visits can be arranged if the weather is too hazardous to venture into! I shall be in attendance on both days to offer valuations on art and general antiques. ANTIQUES SOLUTIONS Contact: PHILIP HOARE Inventories /Valuations Research/ Insurance /Restoration Mobile: [phone] email: [email protected] “Find out what they're really worth” 66 www.philipahoare.com Antique Valuations - Friday 10am -4 pm at: Unit A15, Spithead Business Centre, Newport Road, Sandown, Isle of Wight Visit our new website - www.visitislandlife.com