'Majestic' Tiaras of Josephine Bonaparte Sold in UK

The elaborate jewel-encrusted tiaras are thought to have belonged to the French empress Josephine Bonaparte. Daniel LEAL AFP
The elaborate jewel-encrusted tiaras are thought to have belonged to the French empress Josephine Bonaparte. Daniel LEAL AFP
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'Majestic' Tiaras of Josephine Bonaparte Sold in UK

The elaborate jewel-encrusted tiaras are thought to have belonged to the French empress Josephine Bonaparte. Daniel LEAL AFP
The elaborate jewel-encrusted tiaras are thought to have belonged to the French empress Josephine Bonaparte. Daniel LEAL AFP

A pair of "highly rare" centuries-old headpieces encrusted with jewels and believed to have belonged to the French empress Josephine Bonaparte sold at auction in London Tuesday for nearly £600,000 ($795,000, 710,000 euros).

The two tiaras -- offered from a private British collection dating back at least 150 years -- are thought to have been given to Napoleon Bonaparte's wife by his sister Caroline early in the 19th century, according to Sotheby's.

Both headpieces, each part of a parure -- a set of matching jewelry designed to be worn together -- are set with gemstones engraved with classical heads, several of which are possibly ancient, the auction house said.

The more ornate of the duo -- comprising carnelian, enamel and gold -- fetched £450,600, while the other sold for £126,000, as part of a "Treasures" sale of various valuable and rare items.

"These majestic jewels mounted with cameos and intaglios certainly evoke the style of the grand Empress Josephine -- her rank as wife of Napoleon Bonaparte, her impeccable taste and her interest in the classical world," said Kristian Spofforth, of Sotheby's.

"The jewels offered here demonstrate the finest delicate work by the finest French workshops, and, today, there are hardly any comparable pieces in the world.

"When fashions changed, jewelry was broken up and re-modelled, making their survival a truly exceptional one."

Josephine Bonaparte was likely given just the engraved gems, which Sotheby's said were a possible combination of Roman examples dating back to as early as 100 BC as well as more contemporary Italian engravings.

The auctioneers believe the jewels were then mounted for her in the French capital in around 1808 in the neo-classical style, citing marks on the crowns pointing to Paris and its famed goldsmiths of the age.

They were believed to endow the wearer with their various depicted qualities such as heroism, faithfulness and love, all while blazing a trail in the fashion world of the day.

"By being the first to incorporate these cameos and intaglios into her dress, wearing them side by side with pearls and diamonds, she created an entire new fashion that swept Paris and the world, based on neo-classical forms," explained Spofforth.

No details were immediately released Tuesday on the identity of the buyers.

Sotheby's said the tiaras were possibly acquired from Josephine or her estate by British landowner, art collector and politician Edward Lascelles, and then passed on to his descendants.



Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
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Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)

Birkenstock beat market expectations for fourth-quarter results on robust demand for its pricey footwear and forecast a recovery in margins in fiscal 2025, sending the company's shares up 7% on Wednesday.

With fresh styles becoming a priority for consumers, Birkenstock's sandals and closed-toe clogs have drawn new customers both at its own stores and at retailers.

The company bypassed steep discounting trends evident during the holiday shopping season, which Birkenstock executives said was off to a strong start globally.

"The expansion of ranges into more closed-toe silhouette has helped boost revenue, given that they offer multi-season wear," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said.

Germany-based Birkenstock's average selling prices across its product range were up 8% in fiscal 2024, in part due to higher sales of clogs, the company said, adding that closed-toe styles now made up about a third of its business.

The company has invested in expanding its global store presence and increasing manufacturing capacity this year to meet demand.

While it led to a 330-basis point drop in gross margins in fiscal 2024, Birkenstock forecast a recovery in margins in fiscal 2025 as it ramps up production from new facilities.

The company reported fourth-quarter revenue of 455.8 million euros ($478.27 million), compared with the average analyst estimate of 439.2 million euros, according to data compiled by LSEG.

However, Birkenstock's forecast for fiscal 2025 revenue to increase between 15% and 17% was below estimates of 17.5% growth.

"It would appear with this incredibly healthy growth, the company is choosing to adopt a conservative approach that they expect to be able to meet and beat," BMO Capital Markets analyst Simeon Siegel said.

On an adjusted basis, Birkenstock earned 0.29 euro per share, beating estimates of 0.26 euro.