Sitting on a diamond in the rough?

JEWELLERY PRICES SOAR AS VINTAGE GEMS TRUMP PROPERTY

Reporter IT’S seen as one of the best investments but North East entrepreneurs have been told there is one thing better than property.

According to experts from Bonhams, period jewellery is the new must-have for North East investors.

Research reveals the most rare and sought-after pieces of vintage jewellery have soared in value by over 80% during the past decade.

By contrast, average house prices in the North East have decreased by 6% over the same period of time, according to figures from the National Office of Statistics.

Art Deco jewellery from the 1920s and 1930s and Belle Epoque jewellery from 1890 to 1915 have soared by a remarkable 88% since 2006.

Antique jewellery has risen by 68% and jewellery from the post war era (1945-1975) has risen by 70% during the same period.

But, despite such rises, many are unaware of the value of jewellery in their possession.

Britons are sitting on millions of pounds worth of designer jewellery because they do not know exactly what it is worth, according to one of the UK’s leading auction houses.

Simon Mitchell, jewellery specialist for Bonhams in the North East region, said many simply do not know what they have.

He said: “Jewellery can often be left sitting in a jewellery box or in a safety deposit box with the owners unsure what to do with it so it remains untouched for years.

“We are actively encouraging customers to bring in pieces for a free and confidential valuation.”

Bonhams Jewellery is running a valuation event at Jesmond Dene Hotel, Jesmond Dene Road, Newcastle NE2 2EY, on June 27 from 10am to 2pm.