High Value and Luxury Assets

Buying and Selling: Jewellery

Request a callback

Please enter these characters in the box

captcha

High Value and Luxury Assets >> Buying and Selling: Jewellery

Beautiful jewellery and watches never date.  It can sometimes take considerable effort and money to find that perfect piece.  However, whether you are a jewellery store owner or a private buyer, you need to be aware of the requirements under the Hallmarking Act 1973 to ensure you are aware of your rights and the trading standards required in the United Kingdom.

The Hallmarking Act 1973

A hallmark is series of three compulsory marks located on items of precious metal. The Hallmarks Act 1973 states that a hallmark must provide the following information:

  • who made the article
  • what is its guaranteed standard of fineness (or pureness)
  • the Assay Office where the article was tested and marked
  • the year in which the article was tested and marked

You cannot describe articles as totally or partly manufactured from gold, silver, Platinum or Palladium unless they carry a hallmark. Counterfeiting a hallmark is an offence under the Act and can result in a fine and/or incarceration.

At Saracens Solicitors, our commercial solicitors can assist you in understanding your obligations as a seller under the Hallmarking Act 1973.  If you have found yourself victim to a counterfeit, we can take the necessary action both here in the UK and internationally to ensure your rights and financial interests are protected.

International Protection

The Vienna Convention on the Control and Marking of Precious Metals is an international treaty between Contracting States, which aims at facilitating the cross-border trade of precious metal articles.  Since its inception in 1975, the treaty has done much to harmonise the international standards of hallmarking, which in turn protects individuals who invest in articles made from precious metals.

There are currently 19 contracting states, including the UK.

If you invest in fine jewellery then our firm can provide you with the legal advice you need to ensure the articles you purchase are genuine and meet both UK and international requirements.

To find out more contact us today on 020 3588 3500 or request a callback and we will be in touch in a manner that suits you.

Saracens Blog
The Art of Investment Fine Art Gallery

On 11th October 2016, on her first solo overseas trip, HRH The Duchess of Cambridge proved she is a master of creating an iconic image.  Knowing she would be viewing Johannes Vermeer’s celebrated ‘Girl With A Pearl Earring’ held in the Mauritshuis Museum in The Hague, she choose to wear a pair of beautifully crafted pearl earrings herself. The result – an image that is a work of art in its own right. The British Royal family owns the largest private art collection in the world.  Over the centuries, it has built up a stunning portfolio, including works by Leonardo da Vinci, Vermeer, Caravaggio and Rembrandt. There is a key reason why […]

Read more
Your Ultimate Guide To Selling Fine Art At Auction selling fine art at auction

Selling fine art at auction is not for the faint-hearted. Selling fine art at auction- Auction house Sotheby’s announced in January that ‘Bauerrngarten’, a stunning 1907 masterpiece by Gustav Klimt, would be the highlight piece of its Impressionist and Modern Art sale which took place on 1st March 2017.  The landscape, which was first exhibited in Vienna in 1908 is expected to fetch over $45 million. Major auction houses such as Christies, Freeman’s and Sotheby’s seem to be ruthlessly discriminating and focusing on major trending works which can sell for millions and the artists who are ‘hot’ at a particular moment. Along with selling under the hammer, the great auction houses will […]

Read more
You Can’t Beat A Classic When It Comes To Luxury Cars

Provenance, rarity and originality, these are the holy trinity for anyone purchasing a classic car.  Good judgement and research also pays off.  This is a market that is booming after leaping 17% in 2015, more than any other luxury asset such as watches, art and stamps. Earlier this year, a Ferrari 250 GTO was on sale in the UK for the asking price of a whopping £52 million. The current picture of the classic car market There was a sense at the beginning of 2016 that the classic car market was slowing down due to a drop in sales and cars selling for less than expected sums in auction halls […]

Read more