Beautiful gems — but not always in jewelry
Gems' role in body adornment has been around for millennia, and jewelry is where most of us encounter gems. But for many gemologists, jewelers and gem cutters, the possibilities are ever-expanding.
Each year, the American Gem Trade Association holds the AGTA Spectrum Awards, a jewelry and gemstone competition. Some of the winning pieces are jewelry, but others are wildly different.
A standout piece in the 2022 Awards is the Harley Davidson pictured above, handmade by Rodney Rahmani. At about four inches across, it might look like a brooch, it might be jewelry. But no, this piece isn't meant to be worn. It is a delicately crafted sculpture, a work of art.
The diamond-studded motorcycle, with moveable wheels and steerable handlebars, is made of 18-karat rose gold. The seat of this cycle, a blue Burmese sapphire, even comes with a GIA report.
In jewelry, the cutting and shaping of gems are pretty standardized—round brilliant, princess cut, etc. But freed of restraints, and freed of jewelry, highly skilled and imaginative artisans have produced some extraordinary pieces. Here are a few winners of AGTA's Spectrum Awards.
Insuring Fine Art at the Jewelry Rate
Jewelry is by far the largest property class insured under Personal Articles Floaters. However, insurance regulations state that certain items other than articles for personal adornment may be insured at the jewelry rate.
Small works of art, unlike a bulky statue or painting, are particularly vulnerable to theft because (like jewelry) they are highly valuable and easily portable. These pieces would still be classified as fine art, but you would rate the risk as though they were jewelry, rather than using the much lower rate for fine art.
FOR AGENTS & UNDERWRITERS
Appraising such pieces requires expertise beyond that of the average graduate gemologist. You should get an appraisal from someone who deals in such objects, who can judge the craftsmanship, who recognizes the work of various producers, and who knows the market.
For pieces that are unique and irreplaceable, consider writing a valued contract.
FOR ADJUSTERS
The pieces discussed in the article are all unique. If a unique piece is a total loss, you have few options other than issuing a check.
If a unique piece is damaged, have it examined by an expert. Some kinds of damage can be repaired. In some cases, the piece would lose value if repaired. Only an expert can make this call.
Even if you pay it as a total loss, always take possession of the salvage. You may be able to have the piece repaired, then sell it. Or you may offer it for sale to an expert, who will assume the risk, repair it, and sell it for his own profit. Or the piece may be irreparably damaged but have component gems or metals that still have value.
If a piece has sentimental value, you could (after paying for a total loss) offer to return the damaged piece to the insured for a determined recovery amount. The amount may be little more than the material's scrap price, but the transaction will gain the policyholder's good will. Be sure to have an expert establish a fair as-is price.
Photos in this issue from AGTA website
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