As a passion asset it is difficult to compete with gems. Behind the sparkle there are gripping tales of history, geography, human endeavour, exquisite design and style.
Passion investing is all about the delight and joy of owning a particular asset - Elizabeth Taylor's collection, which was sold by Christie's in 2011 included La Peregrina, a 16th-century pearl, once owned by Mary Tudor. Miss Taylor once said: "I feel as though I'm only the custodian of my jewellery. When I die and they go off to auction I hope whoever buys them gives them a really good home."
All coloured diamonds are rare, but a pink is particularly special as the world's primary source, the Argyle Mine is Australia, is now depleted and closed. According to The Knight Frank Wealth Report 2020, yellow diamonds in the past two years have performed well. The most investment worthy gems have traditionally been diamonds, rubies and emeralds but newer entrants like Paraiba Tourmaline, Tanzanite, Alexandrite and Spinel are generating interest.
Such treasure needs careful management and succession planning is an important consideration, particularly for heritage pieces. Trust and specialist company formation can be tools to safeguard the designs and settings for owners and future successors.
Those fascinated with colour, clarity, carat, rarity and provenance will have in place a carefully selected network of advisers who have been part of a client's collecting journey. Due to the complexity of managing such a specialist asset, ILS World is experienced in partnering and working with external accredited experts and acknowledged industry professionals to ensure we are providing our clients with the best advice and asset protection services for their collections. Jewellery and gems need to be physically protected and through our network of global contacts we liaise with specialist valuers, insurers and storage advisers.
Our committed and qualified specialists provide practical advice and have a can-do attitude. They can assist with:
• Establishment of tailored ownership structures
• Multi-jurisdictional company incorporation
• Comprehensive administration of the ownership structure
• VAT and Customs compliance
• Display/storage/museum display
• Import and export services
• Maintenance and upkeep
ILS World is a global provider of independent fiduciary services and our private client team has considerable experience in assisting international clients with various solutions around wealth management, asset protection, succession and estate planning and trusts and foundations in multiple jurisdictions.
We act in the long-term interest of our clients and pay careful attention to the quality and personal service we deliver.
The team works hard to create long-term relationships and provide the highest level of service. We do this by being approachable, flexible and pragmatic. We offer regular face-to-face meetings as required and provide direct contact with a senior member of the team. Staff have diverse backgrounds, skills and interests and their professional experience together with their "can-do" attitude means they understand that wealth and business are inextricably linked.
Our private clients often require an international strategy and as a global business with offices in a number of key jurisdictions we are well placed to provide a cohesive service. Our network includes offices in:
• British Virgin Islands
• Hong Kong
• Isle of Man
For further information please email email@example.com
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This article is part of the ILS Private Client Series, a collection of commentaries originally generated in response to specific enquiries by individual clients. We have amended this briefing on watches to enable us to share it with a wider audience with similar interests. Read the full compendium on our website by clicking here.
Please note: ILS World does not offer tax advice and would therefore recommend you obtain your own tax advice. If you require an introduction to a tax adviser, we would be happy to assist.