Glittering prizes of Edward and Mrs Simpson

Far far better, agrees Alexandra Rhodes, who spends her working days surrounded by some of the world's most prized and glitteringly beautiful jewels.

"I love jewellery, because it's not the value or the big diamonds, but it's more – jewellery is a miniature work of art, if you actually look at a piece of jewellery, how it is created, the inspiration behind it."

Originally from Bridlington, Alexandra travels the world as senior director and senior international jewellery specialist for Sotheby's, valuing jewellery for insurance and selling purposes, as well as negotiating for the company. "You're often in competition, so there's a lot of excitement," she says. "And then, if you do get the sale, there's the wonderful thing about getting the catalogue together.

And there's no greater excitement than Sotheby's upcoming sale of signature pieces from one of the greatest jewellery collections of all time – that of Wallis Simpson, the Duchess of Windsor.

The last major sale of items belonging to the Duke and Duchess of Windsor took place in 1987, shortly after the Duchess's death. It contained about 150 jewellery pieces and achieved around 34m, considerably more than the estimation of about 5m.

"It just showed how much people would pay for a provenance of that nature," Alexandra says.

Now a collector who bought at that sale is selling on 20 key pieces, including examples of the collaboration between the Windsors and Cartier, such as the flamingo brooch, in ruby, sapphire, emerald, citrine and diamond (guide price 1-1.5m). It was bought by the Duchess in 1940 and was an iconic emblem of the 1987 sale, as was an onyx and diamond panther bracelet (also estimated at 1-1.5m).

Look out too for an 18 carat gold cigarette case, studded with diamonds (estimated 150,000-200,000), engraved with a map of Europe and North Africa, with routes applied in enamel and gemstones set at

meaningful locations.

"She gave that to him for Christmas in 1935 and it's a map of all their journeys," says Alexandra.

"Jewellery is the one work of art that reflects both the personality and the lifestyle of the person. That's why, when we're selling jewels with a provenance, it's wonderful. Like the Duchess of Windsor, it reflects the world she was in – her style and fashion sense."

Alexandra's own love of the world of art and antiques started early. Her father was in the fruit trade in Hull and Bradford, and both parents were keen on auctions and art galleries, taking Alexandra and her brother Geoffrey with them as they searched for unusual pieces.

She set up an antiques society while at Harrogate Ladies College and, even before taking her A-levels in English, History and French, had decided she wanted to join an auction company. "It seemed like a fascinating world," she says. "I used to come down to London and go to Sotheby's and so I'd seen how it was."

A family friend asked Sotheby's how she should proceed and so it was that she was advised that a bi-lingual secretarial course would be preferable to a degree, as she could walk straight into the business.

"In those days in an auction company, the men used to start as porters – we don't have porters any more, they call them technicians – who were the ones who would literally carry around, for example, the bronze statue or the sculpture, and then lot it up for sale. It was the best way of learning because you are actually handling the objects.

"It was a much smaller company – all the auction companies were. Now they tend to be graduates and Sotheby's has its own graduate training scheme."

So, after a bi-lingual secretarial course in Cambridge, she joined Sotheby's in 1974 aged 21, having been won over by her interviewer to start in the jewellery department. She worked there as a secretary for three years and then, after one of the experts left, asked if she could start cataloguing, while also studying gemmology in the evening to gain her fellowship of the Gemmological Association.

Then she took on the nerve-racking role of auctioneer. "I can remember going in and saying to my colleague, 'I really can't do this', and I got so nervous, but they made me go and select the auctioneer's book from a certain office and by the time I got back I had to get on the rostrum right away and start. There was no time for me to panic."

Now Alexandra commands the gavel in London, Geneva and Hong Kong. A good auctioneer, she says, is able to get the bidders to respond with high bids by generating much excitement in the auction room.

When she is not auctioneering, she travels the length and breadth of the UK, valuing jewellery, which means she is able to visit her house on the sea at Bridlington frequently.

"I come up here a lot of the time," she says. "My brother is up here and my nephews and niece and I have cousins in York and other family in Yorkshire, so I do try and spend as much time in Yorkshire as possible."

Alexandra has found some fabulous jewellery pieces in Yorkshire, too, although confidentiality forbids her from saying exactly what. "Yorkshire is such a great focus of culture, historically. You only have to think of all the wonderful stately homes we have. Also the artists."

Perhaps the economic downturn means more business for auctioneers as folk sell off their family jewels? "I think people are selling their family jewels, but equally there are avid buyers for fine collectors' pieces," she says.

Sadly, the family jewels are not always quite what the family had hoped they might be, and Alexandra has had to pass on bad news.

"Sometimes my colleagues and I say we feel like counsellors, because jewellery is often very much part of divorce and death, and sadly there is quite a big difference between insurance and retail value and selling value. What is sometimes very sad is when people haven't realised that.

"But equally we have had people who have had very nice surprises. About 20 years ago we had someone who said they had this diamond necklace they wanted to sell and they said, 'but unfortunately the diamond is pink …'. It was wonderful because it went for about 120,000. One time somebody brought in a jade bead necklace that she was wanting to donate to the local church, and that again made over 100,000, 30 years ago.

"The lovely thing about it is that every day is different. You don't know what you're going to see. One day it could be the most noble collection of family jewels, and the next day it could be something that's not so valuable but equally interesting."

Fashions do come and go in jewellery – coloured diamonds are fashionable now because they are so rare – but on the whole jewels are a good investment. "The jewellery market has always been very stable. I've been there 36 years and it's been a very constant market."

"As with everything, what you want to do is buy quality, possibly by a very good maker. Obviously people like Cartier, Van Cleef & Arpels, and from the very good retail companies.

"The greatest investment, if you love jewellery, is to wear it, because to my mind it's not something to be left sitting in a bank safe; it's to be worn, it's decoration."

"I have small pieces – I always wear a ring that a great friend gave me that was designed for his mother. Then I have my mother's earrings and my mother's wedding ring. I nearly always wear those and I

nearly always wear a pearl necklace because I love pearls – and that's me."

KEY WINDSOR PIECES UP FOR SALE

The former King Edward and Mrs Simpson celebrated their love by commissioning jewels from the great European jewellery houses. Look out for a set of three White Rose of Yorkshire dress buttons in enamel, garnet and diamond (estimate: 4,000-6,000), originally belonging to George V, the Prince or Duke of York being the title often given to a second son. The sale of 20 signature jewels from the collection takes place at Sotheby's, New Bond Street, London, on Tuesday, November 30, at 7pm. The pre-sale exhibition starts Friday, November 26. Visit www.sothebys.com for more details.