Specialists consider the 1.3 million euro valuation of jewels seized from former president José Luis Rodríguez Zapatero excessively low and potentially double that amount.
Jewelry firm Ansorena, in collaboration with the Instituto Gemológico Español, carried out the valuation for judge José Luis Calama of the Audiencia Nacional in the Plus Ultra case. The report sent to the UDEF states it was based on moderate retail market sale prices.
High jewelry experts consulted by the outlet say the estimate did not adequately account for labor costs or commercial margins. A member of the Asociación Española de Tasadores de Alhajas estimates the initial value of the most expensive pieces could have been double or more.
The pieces appear inspired by 1990s designs from brands such as Harry Winston and Graff. The appraisal refers to replacement value in the primary market, taxes included.
