Stephen's Jewelry

RAPAPORT... Christie’s brought in more than $4 million at its latest digital sale, with a 29-carat diamond earning the highest online price ever for a jewel. The emerald-cut, 28.86-carat, D-color, VVS1-clarity, type IIa diamond ring garnered $2.1 million, beating its $2 million high estimate at the Jewels Online sale, Christie’s said Tuesday. The piece received offers as soon as the sale started on June 16, with a total of 31 bidders competing to acquire it up to the close of... the auction on June 30, Christie’s added. The sale of this exceptional stone established the record for a jewel sold in an online-only auction, demonstrating greater client confidence in Christie’s digital ability and online sale platform, said Rahul Kadakia, international head of jewelry at Christie’s. Meanwhile, items by Graff proved popular, with a cascade necklace by the designer, set with a total of 46.57 carats of diamonds, selling for $275,000 against its $250,000 to $350,000 estimate. A Ladygraff watch featuring a total of 40.86 carats of diamonds fetched $175,000, beating its high estimate of $150,000, while a Graff Butterfly pink-sapphire and diamond watch more than doubled its high estimate of $70,000, garnering $150,000. Other notable items include a ring set with a cushion-shaped, 27.81-carat, yellow sapphire bracketed by diamonds, and a sapphire, cultured pearl and diamond necklace, which both sold for $32,500, well above their $15,000 high valuations. In total, Christie’s sold 93% of goods on offer, and 100% by value, with 64% of lots selling at or above their high estimates, it said. Bidders participated from 27 countries across five continents. Christie’s next online jewelry sale will take place from July 3 to 13, featuring the auction of three pieces by designer Anna Hu. Proceeds from those jewels, donated by Alrosa through its Diamonds That Care campaign, will go to help support healthcare workers during Covid-19. The auction house will also hold a live Fine Jewels sale in Paris on July 8, followed by its Hong Kong Magnificent Jewels auction on July 9. Image: The 28.86-carat diamond ring. (Christie’s)

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Heart shaped 3.87 carat Sapphire and Diamond white gold ring $10,000 Heart shaped Sapphire and Diamond 18K white gold ring that features a 3.87 ct rich blue, heart shaped, natural Sapphire with 18 rbc clean whte diamonds which are prong set, making the rich blue Sapphire stand out in beautiful ... contrast. The split shank ring is stamped MAG. Size 6 1/2. 5.5 grams. Show Less... Sold by East Continental Gems

L.J. West Buys Pink-Purple Alrosa Diamond Feb 19, 2020 8:15 AM By Leah Meirovich Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share RAPAPORT... New York-based diamond collector and wholesaler L.J. West has purchased a 6.21-carat fancy-intense-pink-purple diamond from Alrosa.... The stone, one of three the Russian miner cut and polished from a 20.18-carat rough it found in one of its Yakutia mines in 2017, was purchased directly from Alrosa, L.J. West owner Larry West said. A diamond of its color is generally only found in Russia, Scott West, vice president of L.J. West, told Rapaport News Tuesday. This is a stone that’s so incredibly rare, it could be in a museum, Scott West noted. What struck me about the stone was it’s such a beautiful purple, one of the largest and highest-clarity purples I’ve ever seen. Alrosa gave the company an electronic passport establishing provenance for the stone, which includes a detailed visual history of the diamond’s extraction and production, as well as information about the cutter’s background. Our cutter’s unique skills allow us to turn [the rough] into high-quality diamonds, said Alrosa US president Rebecca Foerster. With these advantages, Alrosa may well become a world leader in the colored-diamond market. Even so, L.J. West thinks the diamond has room for improvement. It plans to recut and repolish it to bring out the purple color further, and believes it can also get a higher clarity for the stone. The process will likely remove up to 1 carat of the diamond’s weight, Scott West explained. Once the stone is recut, L.J. West intends to set it in jewelry and sell it, he added. The wholesaler, which has an extensive collection of colored diamonds that has been featured in museums, declined to disclose the price it paid for the stone. Image: The 6.21-carat pink-purple diamond. (Alrosa)

RAPAPORT... The companies behind WD Lab Grown Diamonds have filed three lawsuits against competitors, accusing them of infringing patents for diamond synthesis and treatment. The Carnegie Institution of Washington, a science organization, and M7D Corporation, which trades as WD Lab Grown Diamonds, took action Thursday again six companies that produce or sell diamonds made using chemical vapor deposition (CVD). One of the complaints targets Pure Grown Diamonds (PGD) and IIa ...Technologies, which produces CVD goods for PGD. A second filing is against Mahendra Brothers, a De Beers sightholder, and its affiliate, Fenix Diamonds. The third suit takes aim at Altr, another lab-grown supplier, and its owner, R.A. Riam. Carnegie invented and patented a version of CVD, known as microwave-plasma CVD (MPCVD), that can create a purer diamond because it doesn’t involve electrodes, which often contaminate the product, according to the lawsuits. It also patented a method for enhancing a stone’s visual characteristics through heat treatment at high pressure and temperature. M7D holds the license to both patents, the three similar lawsuits continued. The existence of the patentsare well-known in the lab-grown diamond industry, and in particular are well-known by lab-grown diamond manufacturers, importers and sellers, Carnegie and M7D claimed. WD and Carnegie have invested significantly in technology and production, helping to increase the profile and overall quality of lab-grown diamonds in the industry, said Sue Rechner, CEO of WD, in a statement to Rapaport News. The decision to start litigation is not one taken lightly, but in this instance it is important to maintain the integrity and quality of the lab-grown diamond industry, and ensure that competitors compete fairly and equitably, she added. It is not WD’s ultimate goal to fundamentally disrupt the supply of diamonds in this industry, but rather to ensure that quality and integrity are the pillars of this industry which will ensure that the upward trajectory of this technology that WD has helped create and foster will be maintained. Carnegie and M7D are seeking damages and a judgment declaring that the six companies violated their patents. Those companies were not available for comment Sunday. Image: A 9.04-carat round brilliant produced by WD Lab Grown Diamonds in 2018 using chemical vapor deposition. (WD Lab Grown Diamonds)

Louis Vuitton Buys 1,758ct. Diamond from Lucara Jan 16, 2020 5:03 AM By Rapaport News Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share RAPAPORT... Lucara Diamond Corp. has sold Botswana’s largest diamond to Louis Vuitton in a rare move that will see the fashion house partner with an Antwerp manufacturer to polish the stone.... The mining company will receive an up-front payment for the 1,758-carat Sewelô rough and retain a 50% interest in the final polished, it said in a statement Wednesday. While the diamond is of variable quality, and appears black, recent analysis has confirmed it includes domains of higher-quality white gem, Lucara added. Lucara believes that the full potential of this special stone will only be revealed once polished, the statement continued. The purpose of this unprecedented collaboration between a miner, a cutting-edge manufacturer and a large luxury brand will be the planning, cutting and polishing of a collection of diamonds from Sewelô. The selling price was in the millions, The New York Times quoted Louis Vuitton CEO Michael Burke as saying. The polishing will take place via a partnership with Belgium’s HB Company. The resulting jewelry will commemorate the extraordinary discovery and benefit the people of Botswana, said Lucara CEO Eira Thomas. As part of the deal, 5% of the retail sales proceeds will go toward Lucara’s community-based initiatives in the African country. The move comes amid Louis Vuitton's increased focused on jewelry, with the French brand hiring two former Tiffany & Co. executives designer Francesca Amfitheatrof and marketing expert Catherine Lacaze in the past two years. Its parent company, LVMH, which also owns Bulgari, is in the process of acquiring Tiffany for $16.2 million. Lucara discovered the rough at its Karowe mine in April 2019, declaring it to be the largest diamond in Botswana’s history, surpassing the 1,109-carat Lesedi La Rona it extracted at the same deposit in 2015. The company called the stone Sewelô, meaning rare find in the local Setswana language, following a public naming contest. Image: The Sewelô diamond. (Louis Vuitton)

WORLD NEWSDECEMBER 16, 2019 / 1:02 AM / 3 DAYS AGO Burglars nab jewelry worth $64 million from British model Tamara Ecclestone 2 MIN READ LONDON (Reuters) - Tamara Ecclestone, the daughter of former Formula One boss Bernie Ecclestone, has had an estimated 50 million pounds ($64 million)-worth of jewelry stolen in an audacious raid from her west London home.... FILE PHOTO: Tamara Ecclestone arrives at Southwark Crown Court in London February 18, 2013. REUTERS/Stefan Wermuth A spokesman said the 35-year-old had been left angry and shaken after the burglars apparently evaded both the 24-hour security teams that patrol the street known as Billionaire Row and Ecclestone’s own internal security officers. The daughter of Formula One’s former commercial supremo lives on Kensington Palace Gardens, amongst the residences of the French and Russian ambassadors and close to the Kensington Palace home of Prince William and his wife Kate. Police said a number of items of jewelry were stolen from a property in West London on Friday night and the suspects had fled the house by the time officers and a dog unit arrived. The building’s security team had reported seeing three males inside the property. A fast-paced investigation is underway to locate the suspects and missing items, said Detective Sergeant Matthew Pountney. The Sun newspaper reported that Ecclestone, a model and celebrity in Britain, had just left the country for her Christmas holidays when the burglars entered the property via the garden and smashed open safes hidden in her bedroom. Ecclestone’s Instagram feed showed her young daughter boarding a private plane on Friday, with a message saying Pretty excited the holidays are here. I can sadly confirm there has been a home invasion at the Ecclestone-Rutland family home, a spokesman said, referring to her husband Jay Rutland. Tamara and family are well but obviously angry and shaken by the incident. The average property price for the street stands at 36.5 million pounds, according to online portal Zoopla. Reporting by Kate Holton and Alan Baldwin; editing by Michael Holden and Angus MacSwan Our Standards:The Thomson Reuters Trust Principles.

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$14M Blue Diamond to Headline Christie’s Geneva Oct 17, 2019 8:32 AM By Rapaport News Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share RAPAPORT... A fancy-deep-blue diamond ring with a high estimate of CHF 14 million ($14.1 million) will go under the hammer at Christie’s Geneva Magnificent Jewels auction next month. ... The 7.03-carat stone, mounted by Moussaieff, will lead the November auction, Christie’s said Thursday. Another prominent lot is a 46.93-carat, D-color, internally flawless diamond ring, which is expected to fetch CHF 3.8 million to 4.5 million ($3.8 million to $4.5 million). Christie’s will also offer a 42.97-carat Burmese sapphire pendant, valued at up to CHF 3 million ($3 million), and a pair of untreated Colombian emerald earrings, each weighing over 7.5 carats, with a presale estimate of CHF 1 million to 1.5 million ($1 million to $1.5 million). Other items on offer include a rare Belle Époque brooch, dated circa 1910, which was procured by the Australian opera singer Dame Nellie Melba at the height of her career. The turquoise and diamond piece is valued at CHF 250,000 to CHF 350,000 ($252,046 to $352,864). The sale also encompasses several Art Deco pieces from Cartier. Three brooches, formerly in the collection of Countess Beatrice of Granard OBE, have a high presale estimate of CHF 220,000 ($221,856). A diamond Cartier bandeau, which can also be worn as a choker, two bracelets and a brooch, is valued at up to CHF 500,000 ($504,193). Highlights from the collection are available for viewing at Christie’s London on October 22 and 23, and at the Four Seasons Hotel des Bergues, Geneva, from November 7 to 12. Image: The 7.03-carat blue diamond ring. (Christie’s)

Costco Sells $220,000 Diamond Ring Oct 16, 2019 5:14 AM By Rapaport News Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share RAPAPORT... Costco sold a diamond ring worth $220,000 in the fourth fiscal quarter, the membership-based warehouse retailer said earlier this month. ... Executive vice president and chief financial officer Richard Galanti confirmed the sale during the company’s fourth-quarter earnings call on October 3, just months after another big-ticket jewelry sale for the American multinational. The retailer noted a significant diamond-ring purchase, in the $400,000 range in its third-quarter earnings call in May, with Galanti describing the sale as a highlight for the period. Together, the two sales meant Costco sold close to 200,000 carats in fiscal 2019. They also contributed to a 7.9% increase in Costco’s net sales to $149.35 billion for the year ending September 1. While Costco features jewelry concessions in some of its stores, its higher-value items are sold through its e-commerce platform. Prices for the 690 diamond-jewelry pieces listed on the retailer’s US website range from $250 for a 0.08-carat diamond set in a stackable yellow-gold ring to $470,000 for a necklace featuring 78.19 carats of diamonds in white gold. Image: A 10.03-carat diamond ring listed on the Costco retail page, priced at $420,000. (Costco) Tags: Costco, e-commerce, Jewelry, online retail, Rapaport News, retail, US SIMILAR ARTICLES NRF SeptemberUS Consumer Spending Dips Oct 17, 2019 US retail sales stalled between August and September, indicating that consumer confidence may be waning in light US Consumer Spending Dips Former Zales Vice Chairman Marvin Zale Dies Chow Tai Fook Sales Slump Lightbox to Debut at Bloomingdale’s, Reeds LVMHLVMH Jewelry and Watch Revenue Jumps Oct 10, 2019 LVMH Moët Hennessy Louis Vuitton saw a rise in jewelry and watch sales in the third quarter, LVMH Jewelry and Watch Revenue Jumps NRF Predicts Rise in Holiday Sales How is your store planning for succession? Hong Kong Retail Falls to Record Low

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