Gem Encrusted Bottle

Gem Encrusted Bottle Appraisal

Hi. My name is Scott Benedict and I just paid for a one-time appraisal. Thank you.

Here is the info, and you will see the attached pics.
Gem Encrusted Bottle
Victorian era bottle with precious & semi-precious gems


The jewelry business known as “Benedict Brothers” was started in 1839 by Samuel W. Benedict. The firm was located on the corner of Wall Street in lower Manhattan. Known through the years for its’ fine gold watches and diamonds, the firm’s clocks had the reputation as the official time piece of the City of New York. Ship’s clocks with the motto “Benedict’s Time” were on all the Staten Island ferries until the late 1920s.
Following the death of the founder, his son, Read Benedict, became the president. In the late 1800’s a jeweler friend (name unknown) presented, in an act of appreciation, this bottle consisting of approximately 2,000 precious and semi-precious stones. It has been in the Benedict family for more than 100 years.
Read Benedict passed this unique one-of-a-kind antique to his son, Charles P. Benedict.
A full appraisal was completed in 1983. The determined replacement value of the Gems (excluding the bottle) was noted at $12,000.00
AW says: That is an amazing piece from the American Victorian era. I’ve sold several of similar bottles in my days as picker and they always did surprisingly well. When we look at the appraisal in question there are a couple of things to consider: First, is that it is a replacement value for the cost of the individual Gemstones, should you have to replace them. That is accurate in one sense, and I’ll give my appraised value for that following my further explanation here.
Next to consider, is what you could expect to pay for such a bottle in a reasonable auction marketplace. This can be a wild-card, but 9 times out of 10 it will be much lower than a replacement value.
Generally speaking, “replacement value” is the highest type of value in any appraisal, because it surmises paying top dollar on demand to replace something.
Then there is the inflation factor, and the fact that in the collecting world 1983 dollars were not far from the value of 2014 dollars. (They spiked quite a bit for a while, then crashed when the recession hit, and are just starting to see improvement, in some, but not all cases. )
My appraisal assumes that the 1983 assessment of gems on the bottle is legitimate, and it certainly appears so. Also the provenance that is attached has value if documentation should check out, and again, it would appear that it would.
Current auction value: $4,500-$6000
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