It is believed that this “Gresham grasshopper” signet ring, which features the coat of arms of Warner on one side and a grasshopper—the Gresham family crest—on the other, was gifted to Mark Warner by Sir Thomas Gresham in the late 16th century.
London—A unique 16th century signet ring will be auctioned next week at Noonans Mayfair’s “Jewellery, Watches, Silver, and Objects of Vertu” sale.
The ring, unrecorded until now, is carved with the coat of arms of Warner, and believed to have been gifted from Tudor financier and merchant Sir Thomas Gresham (1519-1579) to Mark Warner, a cloth merchant and liveryman of Drapers’ Company and member of the parish of All Hallows on Lombard Street in London.
The ring was inherited through a private family from the 19th century and remained in the same family until circa 2010, according to the auction catalogue.
It is estimated to fetch £10,000 to £15,000 ($13,550 to $20,330).
The piece features an intaglio carved rock crystal bezel with foil behind to tint the colors in the coat of arms, in a closed gold mount with tapered shoulders. The underside of the bezel is engraved with a grasshopper, the Gresham family crest, in green enamel.
This form of signet ring features foil behind the rock crystal bezel to tint the colors of the coat of arms, allowing impressions to be taken without exposing the colors to hot wax, according to the auction catalog.
It is one in a series of “Gresham grasshopper” seal rings that Gresham gifted to acquaintances or business associates between the years of 1560-1575.
“Nine examples of these ‘Gresham grasshopper’ rings are known, one in the British Museum, a second in the V&A museum, a third in St. Fagans National Museum of History, Cardiff. Further examples are in private collections,” said Frances Noble, associate director and head of jewellery at Noonans.
The Warner ring brings the total number to ten, Noble said.
It is the first to be offered at auction in almost 50 years.
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The Greshams were an old Norfolk family, merchants and financiers by trade, according to the auction catalogue.
Thomas Gresham served his apprenticeship as a merchant under his uncle Sir John Gresham, but, taking after his father Sir Richard Gresham, he also honed his skills in foreign exchange and arranging finance.
Sir Thomas Gresham was the financial agent to four Tudor monarchs, Henry VIII, Edward IV, Mary, and Elizabeth I.
He worked and trained within the family business, and at 24, he was admitted as a liveryman of the Mercers’ Company and left England. His trade took him regularly to Antwerp, a notable trading port for cloth in the European market, and there, he undertook financial arrangements on behalf of Henry VIII.
Gresham became a financial agent to the Crown, serving other Tudor monarchs as well, including Edward IV, Mary, and Elizabeth I.
Mark Warner was also a cloth merchant involved in finance.
At the time, safely transporting goods by sea was considered high risk, according to the auction catalogue.
So, groups of merchants around Lombard Street would each loan against part of the cargo of a ship, the loan being dismissed if the vessel floundered. In 1575, the Chamber of Assurances was established to register insurance contracts, and Gresham’s longtime agent Richard Chandler was given a job and an office in the Royal Exchange.
“Both being cloth merchants, involved in finance, and both residing and working in Lombard Street, Mark Warner and Thomas Gresham’s paths would undoubtedly have crossed,” said Noble.
“No particular event, common interest or business venture can be established to link the various recipients of these rings. Theories have been put forward by noted historians but none with conclusive or universally accepted views.”
There are also theories about why Gresham chose these custom rings as gifts.
“Although the rings could have been given by Gresham in thanks for past services, it seems more probable that those chosen to receive these expensive gifts were individuals whose future potential could be of benefit to Sir Thomas, the hidden grasshopper crest to the interior of each ring serving as a pertinent reminder as to where the recipient’s loyalties should lie,” said Noble.
Noonans Mayfair’s Jewellery, Watches, Silver, and Objects of Vertu sale will take place June 17 in London.
For more information, visit the Noonans Mayfair website.
