The recent dramatic rises in the price of gold and silver bullion is soon expected to work its way through to affect the cost of jewellery made from the precious metals...
GV exterior Garrard's, jewellery dealers (2 shots)
CU interior silver "Cutty Sark" surrounded by jewellery
CU PAN UP FROM engraving to Cutty Sark (3 shots)
GV gold and silver jewellery
CU more gold and silver-jewellery (2 shots)
CU gold camel/master palm tree in gold (3 shots)
SCU Walter Bingham (of Garrard's) speaking in English with overlay of gold castle
CU silver model 'T' Ford; hand showing engine and TV back seat (3 shots)
BINGHAM: "The rise in the price of silver has happened because in the last 150 years silver, being the poorer relation of gold, has been considerably undervalued. It is only in the last two or three years that we've seen any real movement in the price of silver, to keep up with the movement it the price of gold, at the same sort of speed. In fact, in more recent weeks we've seen it increase at a greater rate than the price of gold."
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Background: The recent dramatic rises in the price of gold and silver bullion is soon expected to work its way through to affect the cost of jewellery made from the precious metals...and to cause a sharp rise in the price of antique gold and silver works of art.
SYNOPSIS: Garrard's, the jewellers to the British Royal family since Queen victoria's reign, hold a number of works of art both old and new. Many of the Items, like this solid silver model of the tea clipper 'Cutty Sark', are very expensive. It took craftsmen two years to make the ship Garrard's say that if they put it up for sale, the model might fetch about half a million dollars--though it is valued at three hundred thousand dollars. It if the sort of thing wealthy investors might buy. A leading American bank is asking its investors with portfolios of ten million dollars or over to put up one million for investment in art and antiques.
Some of the smaller items are still expensive. They're expected to rise sharply in price because of the massive increase in the silver and gold price, and also because of their special antique value.
For the ordinary buyer of jewellery from small high street shops the price will increase too, but not by quite the same percentage. Silver seems the best buy. Garrard's buyer Fred Bingham says that tough he doesn't encourage customers to buy silver for investment, the prices have risen considerably in recent years.
For investors, both rich and not so rich, it seems despite the fall on Friday (September 21) in the price of both silver and gold, that buying anything made in the metals remains a good long term hedge against inflation--as it has done throughout history.