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The historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.
It is believed that Tudor financier and merchant Sir Thomas Gresham gifted this ring to cloth merchant and liveryman Mark Warner.
London—At Noonans Mayfair’s recent jewelry auction, a signet ring from the 1500s sold for £42,000 ($56,460) against a pre-sale estimate of £10,000 to £15,000 ($13,550 to $20,330).
The ring was a highlight of the “Jewellery, Watches, Silver, and Objects of Vertu” sale, which took place June 17 in London.
It’s one in a series of rings that Tudor financier and merchant Sir Thomas Gresham (1519-1579), financial agent to four Tudor monarchs—Henry VIII, Edward VI, Mary and Elizabeth I—gave as gifts to acquaintances and associates.
The heavy seal ring, circa 1560-1575, is carved with the coat of arms of Warner with the Gresham family crest, a green enameled grasshopper, engraved on the underside of the bezel.
It is believed to have been gifted from Gresham to Mark Warner of All Hallows, Lombard Street in London, a cloth merchant and liveryman of Drapers’ Company, according to the auction house.
Associate Director and Head of Jewellery at Noonans Frances Noble said the auction house was delighted with the result of the sale.
“It attracted international interest but ultimately sold to a U.K. buyer with underbidders including both trade and private collectors,” Noble said.
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The ring was a highlight of the “Jewellery, Watches, Silver, and Objects of Vertu” sale, which took place June 17 in London.
It’s one in a series of rings that Tudor financier and merchant Sir Thomas Gresham (1519-1579), financial agent to four Tudor monarchs—Henry VIII, Edward VI, Mary and Elizabeth I—gave as gifts to acquaintances and associates.
The heavy seal ring, circa 1560-1575, is carved with the coat of arms of Warner with the Gresham family crest, a green enameled grasshopper, engraved on the underside of the bezel.
It is believed to have been gifted from Gresham to Mark Warner of All Hallows, Lombard Street in London, a cloth merchant and liveryman of Drapers’ Company, according to the auction house.
Associate Director and Head of Jewellery at Noonans Frances Noble said the auction house was delighted with the result of the sale.
“It attracted international interest but ultimately sold to a U.K. buyer with underbidders including both trade and private collectors,” Noble said.
There are only 10 known “Gresham Grasshopper” rings, including the Warner ring. One is in the British Museum, a second is in the Victoria and Albert Museum, and a third is in St. Fagans National Museum of History in Cardiff, Wales, with other examples in private collections.
The Warner ring, which was inherited through a private family from the 19th century, where it remained until circa 2010, is the first to be offered at auction for almost 50 years.
Warner and Gresham were both cloth merchants, involved in finance, and both residing and working on Lombard Street, making it highly likely their paths would have crossed.
However, Noble noted that, while notable historians have put forward theories, no particular event, common interest, or business venture can be established to link the various recipients of these rings.
Noble explained, “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.”
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