Set with three old cushion-shaped diamonds, to a plain shank
Ring size: K½
Property from a private collection
Sold for £8,125
(Inclusive of Buyer's Premium)
There are lots of other ways to join our auctions remotely:
If you are unable to attend the auction we can bid on your behalf. You can leave an absentee bid on our website.
Many clients prefer bidding live online at our auctions. It’s easy to register with us online, you can watch the auction as it happens and place bids from the comfort of your desktop/ mobile device.
If you would like to bid by telephone please contact our team prior to the auction with your details of the lots you are interested in and your full name, mailing address, telephone number(s) and email. Once our team have processed your bid request you will receive an email confirmation.
Auction: Select Jewellery & Watches, Wed, 30th Mar 2022
Our March 2022 Select Jewellery & Watches auction features a fine selection of diamonds and gems, from day to evening wear and dating from the 19th century to the modern day. Our watch section features an exciting group of vintage and modern pieces including iconic names such as Rolex, Audemars Piguet, Patek Philippe, Cartier, Zenith and Hublot.
The Jewellery element of our sale includes two private collections of superb diamond pieces alongside a fine selection of Modern British jewellery, including pieces by designers such as John Donald, Andrew Grima, Charles de Temple, Alan Martin Gard and Wendy Ramshaw. Our watch sale is led by one of the original 2000 Audemars Piguet Royal Oak watches made in 1972, referred to as ‘A-series’ pieces, in wonderful condition. Celebrating the 50th anniversary year of its release, the Royal Oak has become one of the most sought after and highly valued watches over the last 5 years.
These Conditions of Sale and the Saleroom Notices as well as specific Catalogue terms, set out the terms on which we offer the Lots listed in this Catalogue for sale. By registering to bid and/or by bidding at auction You agree to these terms, we recommend that You read them carefully before doing so. You will find a list of definitions and a glossary at the end providing explanations for the meanings of the words and expressions used.
Lyon & Turnbull Ltd. acts as agent for the Seller.
A. BEFORE THE SALE
1. DESCRIPTIONS OF LOTS
2. OUR RESPONSIBILITY FOR OUR DESCRIPTION OF LOTS
(b) Estimates: Estimates are placed on each Lot to help Buyers gauge the sums involved for the purchase of a particular Lot. Estimates do not include the Buyer’s Premium or VAT. Estimates are a matter of opinion and prepared in advance. Estimates may be subject to change and are for guidance only and should not be relied upon.
(c) Catalogue Alterations: Lot descriptions and Estimates are prepared in advance of the sale and may be subject to change. Any alterations will be announced on the Catalogue alteration sheet, made available prior to the sale. It is the responsibility of the Buyer to make themselves aware to any alterations which may have occurred.
4. JEWELLERY, WATCHES, CLOCKS & OTHER ITEMS
(i) Coloured gemstones (such as rubies, sapphires and emeralds) may have been treated to enhance their look, through methods such as heating and oiling. These methods are accepted practice but may make the gemstone less strong and/or require special care in future.
(ii) All types of gemstones may have been improved by some method. You may request a gemmological report for any Lot which does not have a report if the request is made to us at least three weeks before the date of the sale and You pay the fee for the report in advance of receiving said report.
(iii) We do not obtain a gemmological report for every gemstone sold in our sales. Where we do get gemmological reports from internationally accepted gemmological laboratories, such reports may be described in the Sale Particulars. Reports will describe any improvement or treatment only if we request that they do so, but will confirm when no improvement or treatment has been made. Because of differences in approach and technology, laboratories may not agree whether a particular gemstone has been treated, the amount of treatment or whether treatment is permanent. The gemmological laboratories will only report on the improvements or treatments known to the laboratories at the date of the report.
(iv) For jewellery sales, all Estimates are based on the information in any gemmological report or, if no gemmological report is available, You should assume that the gemstones may have been treated or enhanced.
(b) Clocks & Watches: All Lots are sold “as seen”, and the absence of any reference to the condition of a clock or watch does not imply the Lot is in good condition and without defects, repairs or restorations. Most clocks and watches will have been repaired during their normal lifetime and may now incorporate additional/newer parts. Furthermore, we make no representation or warranty that any clock or watch is in working order. As clocks and watches often contain fine and complex mechanisms, Buyers should be aware that a general service, change of battery or further repair work, for which the Buyer is solely responsible, may be necessary. Buyers should also be aware that we cannot guarantee a watch will remain waterproof if the back is removed. Buyers should be aware that the importing watches such as Rolex, Frank Muller and Corum into the United States is highly restricted. These watches cannot be shipped to the USA and only imported personally. Clocks may be sold without pendulums, weights or keys.
(c) Alcohol: may only be sold to persons aged of 18 years and over. By registering to bid, You affirm that You are at least that age. All collections must be signed for by a person over the age of 18. We Reserve the right to ask for ID from the person collecting. Buyers of alcohol must make appropriate allowances for natural variations of ullages, conditions of corks and wine. We can provide no guarantees as to how the alcohol may have been stored. There is always a risk of cork failure and allowance by the Buyer must be made. Alcohol is sold “as is” and quality of the alcohol is entirely at the risk of the Buyer and no warranties are given.
(d) Books-Collation: If on collation any named item in the sale Catalogue proves defective, in text or illustration the Buyer may reject the Lot provided he returns it within 21 days of the sale stating the defect in writing. This, however, shall not apply in the case of unnamed items, periodicals, autographed letters, music M.M.S., maps, drawings nor in respect of damage to bindings, stains, foxing, marginal worm holes or other defects not affecting the completeness of the text nor in respect of Defects mentioned in the Catalogue, or at the time of sale, nor in respect of Lots sold for less than £300.
(e) Electrical Goods: are sold as “works of art” only and if bought for use must be checked over for compliance with safety regulations by a qualified electrician first. Use of such goods is entirely at the risk of the Buyer and no warranties as to safety of the goods are given.
(f) Upholstered items: are sold as “works of art” only and if bought for use must be checked over for compliance with safety regulations (items manufactured prior to 1950 are exempt from any regulations). Use of such goods is entirely at the risk of the Buyer and no warranties as to safety of the goods are given. We provide no guarantee as to the originality of any wood/material contained within the item.
B. REGISTERING TO BID
1. NEW BIDDERS
(i) Individuals: Photo identification (driving licence, national identity card or passport) and, if not shown on the ID document, proof of Your current address (for example, a current utility bill or bank statement)
(ii) Corporate clients: Your Certificate of Incorporation or equivalent document(s) showing Your name and registered address together with documentary proof of directors and beneficial owners, and;
(iii) Trusts, partnerships, offshore companies and other business structures please contact us directly in advance to discuss requirements.
(b) We may also ask You to provide a financial reference and/or a deposit to allow You to bid. For help, please contact our Finance Department on +44(0)131 557 8844.
2. RETURNING BIDDERS
3. FAILURE TO PROVIDE THE RIGHT DOCUMENTS
4. BIDDING ON BEHALF OF ANOTHER PERSON
(b) As agent for an undisclosed principal: If You are bidding as an agent for an undisclosed principle (the ultimate Buyer(s)) You accept personal liability to pay the Purchase Price and all other sums due, unless it has been agreed in writing with us before commencement of the auction that the Bidder is acting as an agent on behalf of a named third party acceptable to us and we will seek payment from the named third party.
5. BIDDING IN PERSON
6. BIDDING SERVICES
Your request for this service must be made no later than 12 hours prior to the auction. We will accept bids by telephone for Lots only if our staff are available to take the bids. If You need to bid in a language other than English You should arrange this Well before the auction. We do not accept liability for failure to do so or for errors and omissions in connections.
(b) Internet Bids
For certain auctions we will accept bids over the internet. For more information please visit our Website. We will use reasonable efforts to carry out online bids and do not accept liability for equipment failure, inability to access the internet or software malfunctions related to execution of online bids/ live bidding.
(c) Written Bids
While prospective Buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular Lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition we shall, if so instructed, clearly and in writing execute bids on their behalf. Neither the Auctioneer nor our employees nor agents shall be responsible for any failure to do so. Where two or more commission bids at the same level are recorded we Reserve the right in our absolute discretion to prefer the first bid so made. Bids must be expressed in the currency of the saleroom. The Auctioneer will take reasonable steps to carry out written bids at the lowest possible price, taking into account the Reserve. If You make a written bid on a Lot which does not have a Reserve and there is no higher bid than Yours, we will bid on Your behalf at around 50% of the lower Estimate or, if lower, the amount of Your bid.
C. DURING THE SALE
1. ADMISSION TO OUR AUCTIONS
3. AUCTIONEER’S DISCRETION
(a) Bidders in the saleroom;
(b) Telephone Bidders, and internet Bidders through Lyon & Turnbull Live or any other online bidding platform we have chosen to list on and;
(c) Written bids (also known as absentee bids or commission bids) left with us by a Bidder before the auction.
5. BIDDING INCREMENTS
Bidding increments shall be at the Auctioneer’s sole discretion.
6. CURRENCY CONVERTER
7. SUCCESSFUL BIDS
8. RELEVANT LEGISLATION
D. THE BUYER’S PREMIUM, TAXES AND ARTIST’S RESALE ROYALTY
1. THE PURCHASE PRICE
2. VALUE ADDED TAX
(b) Lots affixed with (‡): A reduced rate of Import Value Added Tax on the Hammer Price of 5% is payable. This indicates that a Lot has been imported from outwit the UK.
(c) Lots affixed with [Ω]: Standard rate of 20% of Import Value Added Tax on the Hammer Price and premium is payable. This applies to items that have been imported from outwit the UK and do not fall within the reduced rate category.
(d) Lots affixed with [Ω] or ‡ when these lots are released to buyers in the UK, the buyer will become the importer and must pay us Lyon & Turnbull Ltd. the import VAT at the rates noted above on the hammer price. The buyer should also note that the appropriate rate will be that in force on the date of our release and not that in force at the date of auction or payment.
(e) Export from the UK: For lots offered under the VAT Margin Scheme and lots with [Ω] or ‡ symbols attached; you may be eligible to have a VAT refund in certain circumstances if the lot is exported. Should you show us proof of export within three months of collection a VAT refund may be arranged. No VAT amounts will be refunded where the total refund is under £100. Bank/transfer charges relating to any refund will be borne by the buyer and will not be reimbursed. Please also note that all customs formalities of the destination country are the responsibility of the buyer.
3. ARTIST’S RESALE ROYALTY (DROIT DE SUITE)
1. SELLER’S WARRANTIES
For each Lot, the Seller gives a warranty that the Seller;
(b) Had the right to transfer ownership of the Lot to the Buyer without any restrictions or claims by anyone else.
If either other above warranties are incorrect, the Seller shall not have to pay more than the Purchase Price (as defined in the glossary) paid by You to us. The Seller will not be responsible to You for any reason for loss of profits or business, expected savings, loss of opportunity or interest, costs, damages, other damages or expense. The Seller gives no warranty in relation to any Lot other than as set out above and, as far as the Seller is allowed by law, all warranties from the Seller to You, and all obligations upon the Seller which may be added to this agreement by law, are excluded.
2. AUTHENTICITY GUARANTEE
(a) The Catalogue description was in accordance with the opinion(s) of generally accepted scholar(s) and expert(s) at the date of the sale, or the Catalogue description indicated that there was a conflict of such opinions; or
(b) the only method of establishing that the Authorship was not as described in the Bold or Capitalised heading at the date of the sale would have been by means or processes not then generally available or accepted; unreasonably expensive or impractical to use; or likely (in our reasonable opinion) to have caused damage to the Lot or likely to have caused loss of value to the Lot; or
(c) There has been no material loss in value of the Lot from its value had it been in accordance with its description in the Bold or Capitalised type heading.
(a) notify us in writing within one month of receiving any information that causes the original purchaser of record to dispute the accuracy of the Bold or Capitalised type heading, specifying the Lot number, date of the auction at which it was purchased and the reasons for such dispute; and
(b) return the Lot to our registered office in the same condition as at the date of sale to the original purchaser of record and be able to transfer good title to the Lot, free from any third party claims arising after the date of such sale.
3. YOUR WARRANTIES
(b) Where You are bidding on behalf of another person You warrant that:
(i) You have conducted appropriate customer due diligence on the ultimate Buyer(s) of the Lot(s) in accordance with all relevant anti-money laundering legislation, consent to us relying on this due diligence, and You will retain for a period of not less than five years the documentation evidencing the due diligence. You will make such documentation promptly available for immediate inspection by a third party auditor upon our written request to do so;
(ii) The arrangements between You and the ultimate Buyer(s) in relation to the Lot or otherwise do not, in whole or in part, facilitate tax crimes, and;
(iii) You do not know, and have no reason to suspect that the funds used for settlement are connected with the proceeds of any criminal activity, including tax evasion, or that the ultimate Buyer(s) are under investigation or have been charged with or convicted of money-laundering, terrorist activities, or other crimes.
1. MAKING PAYMENT
(b) Any payments by You to us can be applied by us towards any sums owing by You to us howsoever incurred and without agreement by You or Your agent, whether express or implied.
(c) We will only accept payment from the registered Bidder. Once issued, we cannot change the Buyer’s name on an invoice or re-issue the invoice in a different name.
(d) The ownership of any Lots purchased shall not pass to You until You have made payment in full to us of the Total Amount Due. The risk in and the responsibility for the Lot will transfer to You from whichever is the earlier of the following:
(i) When You collect the Lot; or
(ii) At the end of the 30th day following the date of the auction, or, if earlier, the date the Lot is taken into care by a third party unless we have agreed otherwise with You in writing.
(e) You shall at Your own risk and expense take away any Lots that You have purchased and paid for not later than 7 working days following the day of the auction or upon the clearance of any cheque used for payment whichever is later. We can provide You with a list of shippers. However, we will not be responsible for the acts or omissions of carriers or packers whether or not recommended by us.
(f) No purchase can be claimed or removed until it has been paid for.
(g) It is the Buyer’s responsibility to ascertain collection procedures, particularly if the sale is not being held at our main sale room and the potential storage charges for Lots not collected by the appropriate time.
(h) If you agree to our pack and send service (if applicable) payment of shipping fees must be made prior to us posting. Any shipping fee will be inclusive of VAT.
2. IN THE EVENT OF NON-PAYMENT
(a) To proceed against You for damages for breach of contract;
(b) To rescind the contract for sale of that Lot and/or any other Lots sold by us to You;
(c) To resell the Lot(s) (by auction or private treaty) in which case You shall be responsible for any resulting deficiency in the Total Amount Due (after crediting any part payment and adding any resale costs).
(d) To remove, store and insure the Lot in the case of storage, either at our premises or elsewhere and to recover from You all costs incurred in respect thereof;
(e) To charge interest at a rate of 5% a year above the Bank of Scotland base rate from time to time on all sums outstanding for more than 7 working days after the sale;
(f) To retain that or any other Lot sold to You until You pay the Total Amount Due;
(g) To reject or ignore bids from You or Your agent at future auctions or to impose conditions before any such bids shall be accepted;
(h) To apply any proceeds of sale of other Lots due or which become due to You towards the settlement of the Total Amount Due by You and to exercise a lien over any of Your property in our possession for any purpose until the debt due is satisfied. You will be deemed to have granted such security to us and we may retain such property as collateral security for Your obligations to us; we may decide to sell Your property in any way we think appropriate. We will use the proceeds of the sale against any amounts You owe us and we will pay any amount left from that sale to You. If there is a shortfall, You must pay us the balance; and
(i) Take any other action we see necessary or appropriate.
(1) It is the Buyer’s responsibility to ascertain collection procedures, particularly if the sale is not being held at our main sale room and the potential storage charges for Lots not collected by the appropriate time. Information on collection is set out in the Catalogue and our Website
(2) Unless agreed otherwise, You must collect purchased Lots within seven days from the auction. Please note the Lots will only be released upon full payment being received.
(3) If You do not collect any Lot within seven days following the auction we can, at our discretion;
(i) Charge You storage costs at the rates set out on our Website.
(ii) Move the Lot to another location or an affiliate or third party and charge You transport and administration costs for doing so and You will be subject to the third party storage terms and pay for their fees and costs.
(iii) Sell the Lot in any way we think reasonable.
H. TRANSPORT & SHIPPING
1. TRANSPORT AND SHIPPING
(b) We offer a limited pack and send service using Royal Mail on small jewellery items. When items leave our premises and are in transit via postal service We are not responsible for any damage or loss incurred. We are also not responsible for making any claim regarding loss or damage to items. A tracking reference number will be issued which can be used to raise a claim with the relevant shipping provider.
(c) We offer a pre-sale quoted price using a third party - Mailboxes etc. Should you select this shipping option you agree to share your personal details with this third party. Mailboxes etc will contact you to confirm details and whether you wish to add insurance in addition.
2. EXPORT OF GOODS
(a) Whether an export licence is required; and
(b) Whether there is any specific prohibition on importing goods of that character, e.g. items that may contain prohibited materials such as ivory or rhino horn. It is the Buyer’s sole responsibility to obtain any relevant export or import licence. The denial of any licence or any delay in obtaining licences shall neither justify the recession of any sale not any delay in making full payment for the Lot.
3. CITES: ENDANGERED PLANTS AND ANIMALS LEGISLATION
I. OUR LIABILITY TO YOU
(b) (i) We are not responsible to You for any reason whether for breaking this agreement or any other matter relating to Your purchase of, or bid for, any Lot other than in the event of fraud or fraudulent misrepresentation by us other than as expressly set out in these conditions of sale; or
(ii) We do not give any representation, warranty or guarantee or assume any liability for a kind in respect of any Lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance, except as required by local law, any warranty of any kind is excluded by this paragraph.
(c) in particular, please be aware that our written and telephone bidding services, Lyon & Turnbull Live, Condition Reports, currency converter and saleroom video screens are free services and we are not responsible for any error (human or otherwise) omission or breakdown in these services.
(d) We have no responsibility to any person other than a Buyer in connection with the purchase of any Lot
(e) If in spite of the terms of this paragraph we are found to be liable to You for any reason, we shall not have to pay more than the Purchase Price paid by You to us. We will not be responsible for any reason for loss of profits, business, loss of opportunity or value, expected savings or interest, costs damages or expenses.
J. OTHER TERMS
1. OUR ABILITY TO CANCEL
(i) Any of our warranties are not correct, as set out in paragraph E3,
(ii) We reasonably believe that completing the transaction is or may be unlawful; or
(iii) We reasonably believe that the sale places us or the Seller under any liability to anyone else or may damage our reputation.
4. ENFORCING THIS AGREEMENT
5. TRANSFERRING YOUR RIGHTS AND RESPONSIBILITIES
6. REPORTING ON WWW.LYONANDTURNBULL.COM
7. SALE BY PRIVATE TREATY
(b) Private treaty sales made under these Conditions are deemed to be sales by auction and subject to our agreed charges for Sellers and Buyers.
(c) We undertake to inform the Seller of any offers it receives in relation to an item prior to any Proposed Sale, excluding the normal method of commission bids.
(d) For the purposes of a private treaty sale, if a Lot is sold in any other currency than Sterling, the exchange rate is to be taken on the date of sale.
8. THIRD PARTY LIABILITY
9. DATA PROTECTION
10. FORCE MAJEURE
11. LAW AND JURISDICTION
(b) Jurisdiction: The Buyer agrees that the Courts of Scotland are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale relate or apply.
The following words and phrases used have (unless the context otherwise requires) the meaning to given to them below. The go Glossary is to assist You to understand words and phrases which have a specific legal meaning which You may not be familiar with.
“Bidding Form” our Bidding Registration Form our Absentee Bidding Form or our Telephone Bidding Form.
“Buyer” the person to whom a Lot is knocked down by the Auctioneer. The Buyer is also referred to by the words “You” and “Your”
“Buyer’s Premium” the sum calculated on the Hammer Price at the rates stated in Catalogue.
“Catalogue” the Catalogue relating to the relevant Sale, including any representation on our Website
“Condition Report” the report on the physical condition of a Lot provided to a Bidder or potential Bidder by us on behalf of the Seller.
“Estimate” a statement of our opinion of the range within the hammer is likely to fall.
“Hammer Price” the level of bidding reached (at or above any Reserve) when the Auctioneer brings down the hammer;
“High Cumulative Value of Lot” several Lots with a total lower Estimate value of £30,000 or above;
“High Value Lot” a Lot with a lower Estimate of £30,000 or above;
“Lot” each Item offered for sale by Lyon & Turnbull;
“Purchase Price” is the aggregate of Hammer Price and any applicable Buyer’s Premium, VAT on the Hammer Price (where applicable), VAT on the Buyer’s Premium and any other applicable expenses;
“Reserve” the lowest price below which an item cannot be sold whether at auction or by private treaty;
“Sale” the auction sale at which a Lot is to be offered for sale by us.
“Seller” the person who offers the Lot for Sale. We act as agent for the Seller.
“Total Amount Due” the Hammer Price in respect of the Lot sold together with any premium, Value Added Tax or other taxes chargeable and any additional charges payable by a defaulting Buyer under these Conditions;
“VAT” value added tax at the prevailing rate at the date of the sale in the United Kingdom.
“Website” Lyon & Turnbull’s Website at www.lyonandturnbull.com
“Knocked Down” when a Lot is sold to a Bidder, indicated by the fall of the hammer at the Sale.
“Lien” a right for the person who has possession of the Lot to retain possession of it.
“Risk” the possibility that a Lot may be lost, damaged, destroyed, stolen, or deteriorate in condition or value.
“Title” the legal and equitable right to the ownership of a Lot.
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