A diamond and sapphire transformable necklace, by Grassy, circa 1935


The articulated collar with central shield-shaped plaque set with a step-cut sapphire, weighing 34.59 carats, on a ground of old brilliant, brilliant and single-cut diamonds and a motif of baguette-cut diamonds with a lozenge-shaped diamond terminal, between triple swags of similarly-cut diamond chain, continuing to the back as old brilliant, brilliant, single, baguette and square-cut diamond openwork plaques, with a diamond shield-shaped clasp, mounted in platinum, diamonds approximately 40.00 carats total, French assay marks, necklace inner diameter 11.5cm, larger clip width 5.5cm, smaller clip width 2.2cm, ring size L, fitted case by Grassy, Biarritz
|Accompanied by a report from AGL stating that the sapphire is of Sri Lankan origin, with no evidence of heat or clarity enhancement. Report number 1100283, dated 4 April 2019.The necklace may be worn in a variety of ways: the sapphire detaches and may be worn as a ring; the entire central plaque of the necklace may be detached and worn as a clip; the plaque clasp detaches and may be worn as a clip and the plaque clasp may also be worn in the centre of the necklace. This lot is also accompanied by numerous design drawings by Grassy showing the permutations.Grassy is a name synonymous with some of the finest jewellery ever created in Spain. The founder, Alexandre Grassy came from a family of Milanese goldsmiths. Born in Constantine, Algeria, a French national, he moved to Spain in the 1920s. It was meant to be a stopover to a new life in America, but instead, having realised that Spain was a country of great opportunity, he opened his first shop in Madrid on Infantas street, specialising in watches. His success allowed him to open branches in Biarritz and Paris and a second store in Madrid. He developed exclusive collaborations with some of the best watch brands of the day, including Vacheron Constantin, Jaeger-LeCoultre and Audemars Piguet and the jewels he created were of unsurpassed quality and design and the house gained a distinguished reputation with an illustrious clientele. In 1953, he opened his shop at number 1 Gran Via, a street lined with important jewellers in one of the most elegant parts of Madrid, where the shop still stands today. Alexandre's son-in-law, Jirka Reznak, joined Grassy in 1959, taking over and expanding the business with further collaborations with Piaget, Baume & Mercier and Rolex in the 1960s and later also with contemporary artists. This necklace was made by Grassy during the 1930s and retailed by the Biarritz store during the 1950s.