Passion Pays. Indulge in old world charm

Jewellery has always held a special place in Indian hearts. For royal families, it has represented the power and wealth of their realm. For the average person, jewellery has often been the preeminent store of value, as well as de rigeur gifts for weddings. The notion that jewellery endures its value is deep-rooted in Indian tradition and culture.

Jewellery, aside from being an expensive indulgence, can also be a sparkling investment. Vintage pieces, in particular, can offer dazzling returns. Antique jewellery takes you back into time, by its unfinished, dull and rugged look. Such jewellery exemplifies the untainted tradition of our country with ethnic motifs, metals and designs. Indian antique jewellery today finds favour not only within the country but also abroad, particularly in the US and the UK, and other western countries.

It can be found in numerous traditions, including popular North Indian varieties, such as Meenakari and Kundan work.

And while these are distinctive by their dull and rough look, they should not be confused with today’s mainstream jewellery that is made with an ‘antique finish’, so as to artificially bestow upon it an old world charm.

From a bygone era In general, jewellery that is over 50 years old can be called antique, according to Anantha Padmanabhan, MD, NAC Jewellers, an antique jewellery retailer in Chennai. The rarest pieces of jewellery have however, been crafted several centuries ago, often as part of royal family collections. Those rarities are usually sold at auctions, in antique stores or in curio shops.

So, what drives the value of a piece of antique jewellery? Several factors, explains Binish Therattil, Showroom Manager at Prince Jewellery. Not just the kind of stones used, such as diamonds, rubies, emeralds or sapphires — the clarity of the stone and their cut also matter.

For example, Golconda diamonds are valued the world over even today for their chemical purity or Burmese rubies which are simply not available anymore. The gold content matters too, though an aficionado of antique jewellery will never enquire about it as the piece is valued for its antiquity rather than the content of the yellow metal. The workmanship — (how intricate the piece is) and of course, the age of the piece too are crucial considerations.

Leaving no stone unturned So, where do jewellers source their pieces of antique jewellery from? “We mostly buy them from villagers who sell family heirlooms to raise money. Local agents travel around villages and identify families that wish to sell old jewellery,” says Anantha Padmanabhan. The jewellers’ in-house experts then examine the pieces to evaluate and verify their etymology, and their quality; whether they are really old, what stones go into the making — white sapphires, rubies, emeralds, and diamonds — and whether the stones are of a certain clarity or colour.

Jewellery is also sourced from collectors who are either disbanding their collections or exchanging a piece for an even larger one, occasionally even from the royal families themselves. But, given that antique jewellery is a status symbol for its collectors, most of them only aim at building their collections rather than selling a piece in exchange for another, explains Binish Therattil.

In any case, given that the supply of such jewellery has been dwindling over the years, jewellers are only too happy to buy these back. “We give our customers 85 per cent of the original bill value plus 85 per cent of the difference in the value of gold between the date of purchase and sale, for the piece that is being sold back,” says Binish.

But there are others, such as Jithendra Vummidi, Partner and Managing Director, Vummidi Bangaru Jewellers, who believe that antique jewellery is simply too precious to be parted with. Jithendra owns a private collection of antique jewellery and VBJ does not put up such pieces for sale. “It’s my passion to collect antique jewellery and I’m not in it for the money,” explains Jithendra. “But, if a customer approaches us with a request for a specific piece we try and arrange for it.”

Depending on the various factors outlined here as well as its provenance, the value of a particular piece could range from several thousand rupees to a few lakhs or even more.

Question of trust Some of the more well-known types of jewellery from North India include the Sarpech or Shirpej, which in the olden days was an ornament worn on princely turbans.

The Kada is a bracelet, typically engraved with floral designs in enamel and inset with precious stones.

An interesting example is the ‘Jehangiri’, a jewel-encrusted bracelet of Emperor Jehangir’s court, possibly designed by his queen herself.

From the South, we have the Vanki, an armlet, unique for its inverted V-shaped design, possibly originating from Naga worship. Linga padakka muthu malai or a pearl garland with a lingam pendant originates from Tamil Nadu. In ancient India, it was believed that flawless pearls prevented misfortune, and were hence a favourite with kings.

And from the West, we have the Nath, or the nose ring from Maharashtra.

These are believed to have been brought into the country by Muslims in the 9th or 10th centuries AD. In the last few hundred years, they have become an indelible part of a bride’s wardrobe.

But despite the huge sums of money involved, antique jewellery purchases are based purely on trust and the reputation of a jeweller.

There is no third-party certification for genuineness as in the case of regular gold jewellery and buyers have to simply take the jeweller’s word for it.

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