1953 Masters Logo Locket & 1961 Eisenhower-signed Photo
GUEST: I love golf. I've played since I was a kid. This locket was given to the architect of the Eisenhower Cabin at Augusta National. The picture was given by Dwight Eisenhower to all the individuals that donated money for the construction of the cabin. I bought the locket on an online auction in 2014. And I believe it was a little over $2,000. The picture, I really do not remember. I don't know where I bought it, or honestly, what I paid for it.
APPRAISER: This locket, for golf fans, they'll instantly recognize the map and flag logo. Augusta National Golf Club was founded in 1931 by the Grand Slam-winning golfer of 1930, Bobby Jones and his partner, Clifford Roberts. Now, let's fast forward to 1952. That year, they decided to create and give out lockets in the form of the map and flag logo to the winners. And it's almost the certificate of membership into the Masters Club.
GUEST: Sure.
APPRAISER: You get one when you win the first time.
GUEST: Okay.
APPRAISER: This is a locket that was designed after the lockets that were given out to the Masters winners. Dwight D. Eisenhower started playing golf in the 1920s. He became infatuated with it. It was one of his favorite hobbies. In 1948, he was brought down to Augusta by one of their members. Bill Robinson loved the club, became a member. He becomes President Eisenhower in 1952. They realize that they have to build a special cabin for him so he can have privacy when he goes back to Augusta National Golf Club...
GUEST: Sure. Yeah.
APPRAISER: ...every year-- they hired H. Lowrey Stulb.
GUEST: Okay.
APPRAISER: And his firm, Stulb and Eve, had six months...
GUEST: Okay.
APPRAISER: ...to build this cabin.
GUEST: Okay.
APPRAISER: Now it's not a cabin as we can see here. It's a three-story, seven-room structure.
GUEST: Really nice house.
APPRAISER: With-- and they built a basement for the Secret Service.
GUEST: (chuckling) Okay.
APPRAISER: So because they finished on time and in such, and in such a great manner, Bobby Jones, Clifford Roberts and the Eisenhowers wanted to gift something special...
GUEST: Okay.
APPRAISER: ...to Stulb, the architect, and to the interior designer, Edith Hill.
GUEST: Okay.
APPRAISER: What could be more special than this locket?
GUEST: Sure.
APPRAISER: So they went to this jeweler, October of '53.
GUEST: Okay.
APPRAISER: And had lockets made for both of them.
GUEST: Okay.
APPRAISER: So you see the map and flag logo and then you open it up, and look, there is the cabin and there are the engraved signatures of Mamie and Ike.
GUEST: Yeah.
APPRAISER: And then you open this, and now you see the signatures of Cliff Roberts and Bobby Jones. And you see the portraits...
GUEST: Yeah.
APPRAISER: ...of Mamie and Ike.
GUEST: Right.
APPRAISER: Now we flip it around. How do we know that it was Mr. Stulb's? Well, there's his name engraved right there.
GUEST: Sure.
APPRAISER: The photo, which we did examine, we're not professional authenticators...
GUEST: Okay.
APPRAISER: ...but we believe the signatures to be authentic. So this photo, I would put an auction estimate of $2,000 to $3,000 on it.
GUEST: Really? Wow. (chuckling) That's incredible.
APPRAISER: Now, let's get to the locket because it also has the box, that does add value. I would put an auction estimate of $25,000 to $30,000.
GUEST: God. Wow, that's crazy, I can't wait till my kids hear this. (chuckling) So... They think I'm nuts, so, uh, this will... that is awesome. Wow. Okay. Great.
$27,000 - $33,000 Auction
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Understanding Our Appraisals
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
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