July 2010
Red-hot Diamond on Block at Sotheby's Australia
Sydney, Australia--Sotheby's Australia's April 12 sale of antique and contemporary jewelry brought a significant one for the auction house. The event will mark the Australian branch's first standalone jewelry sale, with the highlight slated to be the first red diamond ever offered for public auction in Australia.
The 0.82-carat, fancy purplish-red Argyle diamond is set into a ring and is flanked by a pair of fancy blue diamonds in a round brilliant-cut diamond surround, all mounted in platinum. Its value is estimated at between 700,000 and 1 million Australian dollars (between about $645,065 and $921,556) and was accompanied by a letter from Argyle Diamonds attesting to its rarity.
Sotheby's said in a media release that despite the notable discovery of the Argyle pink diamond deposits in Western Australia, less than a handful of red diamonds have been discovered, and connoisseurs have long considered red diamonds to be among the most precious and rare of diamonds.
The April 12 sale offered even more superb examples of colored stones, including a double strand of graduated emerald beads accented with diamond-set rondelles (estimated between $9,676 and $11,519), a sapphire and diamond ring (estimated between $23,034 and $32,248) and an emerald and diamond ring (estimated between $64,497 and $82,907).
Additional items of note included a diamond and platinum ring with a 10.07-carat, heart-shaped center diamond set above round brilliant-cut diamond shoulders and a diamond-set band (estimated between $313,207 and $386,870), as well as a diamond and gemstone-studded Vertu mobile phone hand made and pavé set with fancy pink and colorless diamonds, pink sapphires and rubies with 18-karat rose gold (estimated between $27,633 and $46,055).
Also on offer was a selection of men's and women's timepieces from brands such as Rolex, Cartier, Piaget, IWC and Breitling.
Prior to the April 12 sale, previews took place in two Australia locations: Melbourne on April 7 and 8, and in Sydney April 10, right up until the evening sale on the 12th.
June 2010
Historic Stones Rule The Day At Christie's
New York--Two stones with colorful histories sold above their estimates at Christie's "Jewels: the New York Sale."
According to a news release issued by the auction house, a private U.S. buyer paid $1.76 million for the 39.55-carat, I color Emperor Maximilian Diamond, which was estimated to fetch between $1 million and $1.5 million.
The cushion-cut stone has a long and interesting history, having once been owned by the Archduke Maximilian, who ruled as emperor of Mexico at the insistence of Napoleon III but was later executed. It is believed that he was wearing the diamond around his neck when he faced the firing squad.
After passing through a number of owners, the stone fell into the hands of diamantaire Laurence Graff, who bought it at Christie's in 1982 and sold it to Imelda Marcos, widow of former Philippine President Ferdinand Marcos.
In addition, a private Middle Eastern buyer paid $1.65 million for the Catherine the Great Emerald Brooch, a hexagonal-cut emerald and diamond cluster brooch the Russian ruler gifted to Sophie Dorothea in 1776 when Dorothea married her son and successor, Paul I. The piece was estimated to fetch between $1 million and $1.5 million.
All told, the Christie's sale totaled $41.25 million, with 85 percent sold by lot and 92 percent sold by value, according to the release.
The top lot of the sale was a heart-shaped, 28.28-carat D flawless diamond, which sold for $3.78 million, or $133,000 per carat.
"Historic diamonds and royalty stole the headlines at Christie's [Thursday], with the Emperor Maximilian Diamond achieving $1.76 million--more than twice its original auction price since it first appearance at Christie's in 1982," Rahul Kadakia, head of jewelry at Christie's New York, said in the release. "Twelve jewels sold for more than $1 million, and D flawless diamonds continued to bring prices over the $100,000 per carat mark. In all, the sale demonstrated once again the great health of the global market for top-quality jewelry and precious stones."
Other notable lots from Thursday's sale include a 3.43-carat, cushion-cut fancy vivid blue diamond purchased by a member of the U.S. trade for $3.10 million; a 20.06-carat, cushion-cut D internally flawless diamond purchased by Geneva jewelry house Chatila for $2.49 million and a rectangular-cut E color potentially internally flawless 15.75-carat diamond ring designed by Bulgari, bought by a private U.S. buyer for $1.76 million.
May 2010
Christie's to Auction Historic Royal Jewels
New York--Christie's New York is revving up for a big month, preparing for its first major jewelry sale of the year. Auction highlights will include two exceptional jewels with storied histories.
Set to hit the block are "The Emperor Maximilian Diamond," a 39.55-carat colorless stone, and "The Catherine the Great Emerald and Diamond Brooch," featuring a Colombian emerald weighing in at over 60 carats. Both pieces are estimated between $1 million and $1.5 million.
The Emperor Maximilan Diamond is one of two large diamonds acquired in Brazil by the Archduke Maximilian in 1860, just before he was named Emperor of Mexico at Napolean's urging. Maximilan was later executed by a firing squad, and legend holds that, at the time, he was wearing the diamond in a small satchel tied around his neck.
The stone was returned to his wife, Princess Charlotte of Belgium, and passed through many a hands over the years, including those of London jeweler Laurence Graff and Imelda Marcos, former first lady of the Philippines. The April 22 auction marks the first public viewing of the diamond since a Christie's auction in 1982, when it was purchased by Graff for $726,000.
The Catherine the Great Emerald and Diamond Brooch is considered one of the world's outstanding jewels. The brooch centers on a hexagonal-cut Colombian emerald weighing between 60 and 70 carats and is set within a rose constituted by rose- and old mine-cut diamonds mounted in silver-topped gold.
The brooch originally belonged to Catherine II of Russia, who ascended to the Russian throne in 1762. She later gave the brooch to her daughter-in-law, Sophie Dorothea, princess of Wurttemberg, and the piece was subsequently handed down to the princess' descendants. In 1972, the brooch was sold to a private American buyer.
"Aside from their exceptional rarity, these large stones bear a fascinating history and provenance that renders them truly priceless in the world of fine jewels," said Rahul Kadakia, head of jewelry at Christie's New York.
April 2010
The Celebrity Style Jewelry
Bridal Bonanza: Stars Pick Big, Beautiful Rocks
Los Angeles--June may mark the onslaught of the wedding season, but this year, it seems that winter has been the time to get engaged--given the string of pop stars, top models and big-screen ingénues sporting engagement rings in recent months.
According to the Diamond Information Center (DIC), the most popular engagement ring is a round, 0.5- to 1.0-carat solitaire on a plain, white gold metal band, although rings featuring pavé diamond bands are fast on the rise. But that's for the average bride--and celebrities are, of course, a different story.
Pop star Katy Perry, engaged to British comedian Russell Brand, is among the soon-to-be brides sporting a round diamond, although--far from average--her Cartier stunner features an estimated 3-carat stone. While the large center stone is par for the course for the celebrity set, what makes Perry's ring more unusual is that it sits upon a yellow gold band, creating a vintage look that many brides seem to be going for lately and one that wedding trend forecaster The Knot heralds as "retro glamour."
Neil Lane clients Emily Blunt--perhaps best known for her breakout role in The Devil Wears Prada--and Dutch supermodel Lara Stone have both been sporting vintage-style pieces featuring large center stones and a flurry of details, from small accent stones to milgrained edges.
Blunt's ring has a 1920s feel to it, featuring handmade platinum and tiny diamonds surrounding the round center stone, Lane tells National Jeweler. Stone's ring, meanwhile, features a 4-carat round diamond, also in platinum, with small stones on the shank. For Lane, who is known for creating jewels with a vintage vibe that still retain a modern feel, the design is in the details.
"They all like detail," Lane says of his star-studded client list. "It's not all visual on top, it's seeing stones when they tip the ring over. Girls are loving the detail, they're loving the vintage vibe."
Other engagements making news in the last few weeks include that of Jake Pavelka, star of ABC's The Bachelor: On the Wings of Love. In the show's finale, he proposed to Vienna Girardi with a Neil Lane-designed ring featuring a 2.02-carat, princess-cut diamond set in platinum and accented with 0.72 carats of small stones.
While many of the rings newly engaged celebrities are sporting lately featured uber-large center stones--the DIC estimates Carrie Underwood's Jonathan Ardnt-designed ring at 5-plus carats, Hilary Duff's radiant-cut sparkler is estimated at a whopping 14 carats (and $1 million price tag), Nicole Ritchie's Neil Lane stunner is over 4 carats and Kristen Bell's emerald-cut brown diamond by Lane is 3 carats--Lane says that in his own work, his goal is to create rings that are beautiful and wearable. He doesn't want the first thing a person says to be " 'Wow, what a big ring,' but instead, 'Wow, what a beautiful ring.'"
And while the 3- to 4-carat stone weight many celebrities request is far larger than the 0.5- to 1.0-carat average in the United States, Lane emphasizes that these are the clients' personal rings. While they might seem over-the-top, especially these days, the jewelry befits the world of glamour that these stars live in--a world that the public eagerly tunes into, Lane says.
"There is something for not wanting to be so extravagant, but they are in the world of glamour, and that's what the world loves about them," Lane says. "It's about fashion and style and glamour, and that's what Hollywood does best."
March 2010
The Kimberley Red Diamond
New York--A 1.77-carat, radiant-cut, fancy deep purplish-pink diamond that didn't attract a buyer at Rio Tinto's 2008 Argyle Pink Diamond tender has been recut into a stone that has everybody seeing red, literally.
Joshua Sheby, a gemologist with New York-based Scarselli Diamonds who specializes in natural-color diamonds, said Scarselli purchased the diamond in partnership with a few other companies in the first half of 2009 after it went unsold in 2008.
Though Argyle pink diamonds are difficult to cut because they are heavily included, Sheby said they saw potential in this stone and took a chance.
The result: a 1.61-carat, radiant-cut, fancy purplish-red stone worth an estimated $2 million.
"It was a just a matter of readjusting some of the angles...and bringing out that red component," Sheby said.
The Gemological Institute of America (GIA) graded the stone, and Argyle Pink Diamonds, the marketing arm of mining company Rio Tinto, issued a letter of rarity signed by its business manager Josephine Archer stating that they've dubbed the diamond "the Kimberley Red."
The letter notes that in the past 10 years, only one other diamond larger than 1.5 carats and graded by the GIA as "fancy purplish red" has been featured in the Argyle tender.
"This is an important stone from Australia's Argyle mine. Given the approaching end of mine life, this gem is a significant legacy of the rare and unique fancy colored diamonds produced in this remote part of the world," the letter states.
As for what the future holds for this rare, red diamond, Sheby said that remains to be seen.
The diamond could be sold through an auction house, retail outlet or to a collector and/or investor.
A museum also could decide to buy the stone or rent it for a specified amount of time, he said.
"We haven't ruled out anything," Sheby said.
February 2010
Galatea introduces 'Mercy Pearls'
Designer dedicates first pearl to Cambodian children's hospital
San Dimas, Calif.--Chi Huynh, founder and chief executive officer of Galatea: Jewelry by Artist, is donating the first white South Sea and red coral Galatea Mercy Pearl from his company's new pearl-farming venture in Vietnam for an auction to benefit Friends Without A Border, a charitable organization that supports the Angkor Hospital for Children in Cambodia.
For the auction, to be held during the First Annual Los Angeles Gala on Dec. 10 at the Hollywood Roosevelt Hotel, Huynh has donated the 11 mm pearl set in a 14-karat yellow gold and diamond "Mermaid" pendant. Bidding will open at $2,500.
"It makes me happy to know that this exceptional Galatea Mercy Pearl will benefit children in Cambodia," Huynh said in a media release. "This is a country whose children desperately need basic medical care. To know that this Mercy Pearl may help many more to receive the treatment they so desperately need reinforces this product's very name."
The Galatea Mercy Pearl, a patented pearl that has been called the most significant development in pearl farming in more than 100 years, according to the release, reveals dramatic flashes of its center gemstone bead through its hand-carved nacre or coating.
The Mercy pearls have been grown in the Pinctada maxima oyster at Galatea's pearl farm located in Vietnam's southern coastal growing region. This first harvest shows pearls that are large in size (averaging between 9.5 mm and 14 mm) with lustrous white and creamy yellow nacre.
The First Annual Los Angeles Gala, which is being hosted by Friends Without Borders along with a star-studded committee including Ali Larter, Anne Hathaway, Eva Longoria Parker and Molly Sims, will raise money for the Angkor Hospital for Children, which has provided care for hundreds of thousands of children since its founding in 1999. It is the second largest HIV/AIDS facility in Cambodia and is entirely dependent upon donations for operational expenses.
Galatea: Jewelry by Artist manufactures both in the United States and in Vietnam, and sells to approximately 1,500 retail jewelers throughout the United States. The company also has distribution in both Europe and Asia. For additional information, visit the company's Web site, GalateaUSA.com.
January 2010
Big diamonds equal big bucks at Christie's Geneva
Geneva-Strong results from the Christie's Geneva auction, led by the sale of a 62.30-carat, D flawless diamond that went for $8.051 million, signal a "market resurgence," and strong demand for top-notch gemstones and signed vintage jewelery, the auction house said.
Christie's "Jewels: the Geneva Sale," was held Nov. 18 at the Four Seasons Hotel des Bergues in Geneva. According to a news release, Aleks Paul of Essex Global Trading in New York snapped up the top lot, agreeing to shell out $130,000 per carat for the 62.3-carat, Type IIa flawless diamond.
Paul also submitted the top bids for two natural color diamonds, offering well above the estimate for each.
According to a Christie's release, Paul bid $2.68 million for a diamond ring by Wolfers that paired a 3.30-carat, rectangular-cut, fancy intense blue diamond and a 3.90-carat E, VS2 diamond for which the value was estimated at $580,000 to $740,000.
Paul came up with another nearly $2.68 million for a fancy vivid, fancy intense and fancy blue diamond clasp, circa 1950, which had an estimated value of $500,000 to $650,000. Overall, the auction sold 82 percent by lot and 93 percent by value.
"With a beautiful selection of 215 carefully chosen lots, Christie's fall auction of magnificent jewels in Geneva reflects the current demand for fine quality gemstones and signed vintage jewelry, presented with attractive estimates," Jean-Marc Lunel, head of the sale, said in a press release. "An emphasis has been placed on items with a private provenance, which are fresh to the market and traditionally appeal to both professionals and international private collectors."
He also noted that more than $70 million in jewelry changed hands during the two-day auction, including the $8 million sale of the 62-carat white diamond.
"This shows the clear resurgence of the jewelry market and we look forward to exciting sales in Hong Kong, New York and London in early December," he said in the release.
Among the most sought-after natural color diamonds in the sale were a 65.20-carat fancy intense yellow, cushion-shaped diamond pendant, which sold for nearly $1.04 million, and a 4.42-carat fancy intense, square-cut green diamond ring, which sold for $783,000.
Also featured was the largest recorded fancy grayish-yellowish-green "chameleon" diamond in the world, cut into a briolette and mounted as a pendant. Chameleon diamonds are diamonds that react to heat or dark storage by temporarily changing color from grayish green to yellow when they are heated, cooled or kept in the dark.
A member of the European trade purchased the 19.13-carat stone for $987,000, setting a new world record price for a chameleon diamond.
Notable colored gemstones offered at the sale include a 7.03-carat oval-shaped Burmese ruby set in a diamond cluster ring by diamantaire Laurence Graff, which sold for $1.13 million to a private Asian buyer.
December 2009
Jewelry Auctions
32-carat Annenberg astonishes at auction
New York--In an event Christie's is terming "an auction to remember," an anonymous buyer paid $7.7 million for the 32.01-carat D-flawless Annenberg Diamond on Wednesday, well surpassing the stone's estimated sale price of $3 million to $5 million.
The diamond, owned by philanthropist Leonore "Lee" Annenberg, who died in March at the age of 91, was mounted in a ring by Manhattan jeweler David Webb.
Its sale set a new, world-record auction price of $240,000 per carat for a colorless diamond, according to Christie's.
Overall, Christie's "Jewels: The New York Sale and the Annenberg Diamond" and "Rare Jewels and Objets d'Art: A Superb Collection" held on Wednesday in New York City, totaled $46.5 million and achieved a combined sell-through rate of 85 percent by lot and 94 percent by value.
In a press release, Rahul Kadakia, head of jewelry at Christie's New York, said the activity at the auction defied these recessionary times.
"For three-and-a-half hours, between 10:00 a.m. and 1:30 p.m. on Oct. 21 at Christie's, it was as if the recession never happened," he said. "Virtually every lot exceeded its estimate, and the $7.7 million Annenberg Diamond astonished even the most seasoned diamond dealer. It was an auction to remember. And if this were not enough, the sale started again at 2:30 p.m. and continued until 7:00 p.m., giving collectors opportunity to acquire exceptional masterpieces from the superb collection of Rare Jewels and Objets d'Art."
Also sold on Wednesday was a 16.33-carat circular-cut diamond with E color and flawless clarity, purchased by a private Asian dealer for $1.6 million, or $97,000 per carat.
Among the pieces exceeding estimates were a belle epoque diamond and rock crystal bow brooch by Cartier, which was expected to fetch between $200,000 and $300,000, but was purchased by a member of the U.S. trade for $1.1 million, and a Harry Winston emerald and diamond necklace, circa 1956, expected to fetch between $500,000 to $700,000 that sold for $950,500.
Diamond miner recovers 507-carat diamond at Cullinan mine
Petra Diamonds Ltd, the international diamond mining group, has announced the recovery of a spectacular 507.55-carat white diamond at the Cullinan mine in South Africa.
This spectacular gemstone was recovered on September 24 and is currently with experts for analysis. Initial examinations indicate that it is of exceptional colour and clarity, and is most likely a Type II diamond. Further details, including colour grading and clarity, will be released once the diamond has undergone appropriate analysis.
The diamond was recovered in the same production run along with three other special white stones of similar colour and clarity - a large diamond of 168 carats and two other diamonds of 58.5 carats and 53.3 carats.
The 507-carat diamond, which has yet to be named, is considered to be among the top 20 largest high-quality rough diamonds ever found worldwide and ranks alongside other illustrious diamonds recovered at the celebrated Cullinan mine. Cullinan has a special place in the history of diamonds as the source of the world's largest diamond ever recovered, the Cullinan, at 3,106 carats rough.
November 1, 2009
EU backs U.S. in seeking coral protection
London--The European Union (EU) has agreed with a U.S. initiative to seek international trade protection for red and pink coral, which is used in fine jewelry as well as home decor and has been the subject of a campaign by conservation groups that believe over-harvesting has imperiled the slow-growing species.
The European Commission indicated that EU member states--including Italy, a major producer of coral jewelry--were in favor of a request from the United States to co-sponsor a proposal to list red and pink coral under Appendix II at the next Convention on International Trade in Endangered Species (CITES) Conference of Parties, to be held March 13-25, 2010, in Qatar.
An Appendix II CITES listing for red and pink coral would not prohibit trade, but would ensure that international trade in coral is carefully monitored through a system of export permits, which would help to reduce trade in illegally fished coral. Countries wishing to export red and pink coral would be required to produce a scientific finding that proves trade is not detrimental to the survival of these species.
SeaWeb's Too Precious to Wear campaign, which is among the organizations that has been pressing for the protection of coral, hailed the announcement.
"This decision is a major step toward safeguarding the future of these species and the livelihoods that depend on them," SeaWeb President Dawn Martin said in a press release.
October 13, 2009
Diamonds sparkle at NYC's natural history museum
New York--A collection of 25 diamonds, including the Olympia Diamond Collection, is on display now through January at the American Museum of Natural History in New York City.
According to a news release from the museum, the public can view the diamonds in the museum's Morgan Memorial Hall of Gems.
Diamonds in the exhibit include a brilliant-cut intense-pink diamond set in gold with smaller pink diamonds, designed by Carvin French with diamonds from Rio Tinto's Argyle Mine in Australia; a 5.4-carat round-brilliant-cut diamond pendant surrounded by 20 sapphires and set in white gold, designed in California in 1960; and the five colored diamonds of the Olympia Diamond Collection.
According to the release, the Olympia Diamond Collection, curated by Joshua Sheby and on loan from Scarselli Diamonds Inc., consists of a 1.01-carat vivid orange-yellow diamond, a 1.02-carat vivid blue-green diamond, a 2.17-carat vivid purplish-pink diamond, a 2.13-carat vivid blue diamond and a 2.34-carat vivid orange diamond.
In addition, the museum's diamond display includes laboratory-grown diamonds from both Boston-based Apollo Diamond Corp., which uses chemical vapor deposition (CVD) in creating its diamonds, and Sarasota, Fla.-based Gemesis Corp., which uses high-pressure, high-temperature (HPHT) treatment to create its stones.
George Harlow, curator of the museum's Department of Earth and Planetary Sciences, curated the diamond case.
Viewing the diamonds is free with admission to the museum, which is located at Central Park West and 79th Street in Manhattan.
