GUEST: We inherited it from Jean Hatton Duffy.

APPRAISER: And this was a friend of yours?

GUEST: Yes. Her and her husband didn't have any children, and she passed away in 2002. 'Cause we took care of her in her later years, she left us her home and belongings, and this was in her stuff. If we hadn't had a friend call and tell us she had it, I don't know if we'd have looked for it. What we were told was that because she worked for a magazine-- I believe it was in New York-- she went to Alexander Calder's studio and interviewed him, and he presented her this pin when she went to the studio. But it's not signed, so that's why we were not sure what it was.

APPRAISER: It is by Alexander Calder.

GUEST: Great.

APPRAISER: Calder did a lot of these pieces...

GUEST: Mm-hmm.

APPRAISER: ...sometimes in nickel silver, which this is, and sometimes he did them in aluminum. This, it dates probably from the late '50s-- I would say '57, '58, '59, in that time period.

GUEST: Okay, okay.

APPRAISER: And he would do these as just sort of these little quips and studies and give them to friends. It wasn't about making money. They were just these wonderful little kind of experiments...

GUEST: Mm-hmm.

APPRAISER: ...that he did in using form and shape and forging wire, et cetera, and they became gifts. Obviously, what has happened is, Calder became more recognized as a great artist because of his mobiles and the other items that he did and designed.

GUEST: Right.

APPRAISER: And so the jewelry pieces become highly, highly collectible. And I would say at auction, conservative estimate, would be between $20,000 and $30,000.

GUEST: (laughing): You're kidding me!

APPRAISER: No, I'm not.