A rare ring which belonged to King Edward VI’s financier has sold for £42,000 – nearly five times its estimate.
The gold ring was given as a gift by the great Tudor merchant Sir Thomas Gresham.
Dating back to the late 1500s, it was engraved with a green enamelled grasshopper – the Gresham family crest.
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It is believed to have been gifted from Sir Thomas to cloth merchant Mark Warner of All Hallows Lombard Street – a parish church in the City of London.
Both being cloth merchants involved in finance, and both residing and working in the same street, Mark and Sir Thomas’s paths would undoubtedly have crossed.
But the reason behind the gift is more mysterious.
Following the sale of the ring, Frances Noble, of auctioneers Noonans, said: “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.
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“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.”
Gresham was a financial agent to four Tudor monarchs – Henry VIII, Edward VI, Mary and finally Elizabeth I.
He was the founder of world renowned Gresham College in London which hosts over 140 free public lectures every year, as reported by What’s The Jam.
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The ring was inherited through a private family from the 19th century and remained in the same family until 2010.
Nine examples of these ‘Gresham grasshopper’ rings are known.
One is in the British Museum, a second is in the V & A museum and a third is in St Fagans National Museum of History, Cardiff.
The others are believed to be in private collections.
Frances added: “We were delighted with the result sale which saw this wonderful ring sell for a hammer price of £42,000 against its pre-sale estimate of £10,000.
“It attracted international interest but ultimately sold to a UK buyer with underbidders including both trade, and private collectors.”
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