Jewelry e-Commerce Site Receives $10 Million in Funding

BeachMint, a start-up e-commerce operator, said it has raised $10 million to accelerate the growth and reach new markets. The investment is led by Trinity Ventures, with participation from Stanford University and existing investors, New Enterprise Associates and Anthem Ventures.

The Santa Monica, Calif.-based company operates the e-commerce site, JewelMint.com, an online jewelry club where customers who pay $29.99 per month receive a new jewelry item each month, plus style tips and personalized recommendations. BeachMint says the site, which launched in October, 2010, sells jewelry designed by actress Kate Bosworth and stylist Cher Coulter. My Space co-founder Josh Berman and entrepreneur Diego Berdakin established BeachMint.

This new round of funding will be used to bolster the staff from 20 to 40 and launch new verticals and celebrity partnerships in 2011, which BeachMint will announce in the first quarter.

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Swiss Watch Exports Surpass $21 Million in 2011

Photo credit: Ulysse Nardin

Swiss watch exports grew by 19.2 percent in 2011 to 19.3 billion francs ($21.1 billion), according to the Federation of the Swiss Watch Industry. With the exception of 2010, which followed a major downturn, it is the strongest growth in the industry for the past 20 years.

Each month in 2011 had double-digit growth, year-over-year, except for June, which posted a 9.2 percent increase. The steepest increases (above 30 percent) were reported in April and May. However, the final three months were the biggest in history, the association said.

The association went on to say that it was “penalized” by the strength of the Swiss franc, which placed a strain on margins and selling prices. However the sector drew strength from steady demand and a greater presence worldwide, particularly on high-potential markets less affected by exchange rate fluctuations.

Nearly all the main markets of the Swiss watch industry showed double-digit increases in 2011, absorbing more than 20 percent of Swiss watch exports by value. Hong Kong, the industry’s largest market grew by more than 28 percent. The United States, the second largest market, increased by 18.4 percent, which the association said “confirmed its gradual recovery.” China moved up one place in the ranking, thanks to the biggest increase among the main markets (48.7 percent). European markets all registered below-average performances. While France, Germany and the United Kingdom recorded two-digit growth, Italy and Spain failed to match this level. Singapore also moved up one place, following the same trend as Hong Kong. Japan offered concrete signs of recovery, but from a particularly low base.

The association said that 2012 will continue to see robust growth for the Swiss watch industry based on the “appeal of its high-quality products, growth potential in important markets and investments made by watchmaking firms to ensure their development offer grounds for confidence in the future.”

Wristwatches accounted for the major share of exports, generating 94 percent of total value. The value of timepieces rose by 19.3 percent, year-over-year, to 18.1 billion francs. Nearly 30 million watches left Switzerland (up 13.8 percent), the highest level since 1999 and well above the average figure of 25 million units over the past ten years.

More than half of all watches exported were manufactured from steel. This material showed a positive trend (up 12.8 percent) to exceed 15 million timepieces, on a par with their value, which increased by 13.9 percent. The category of other materials, which includes all non-metallic finishes, saw volumes rise to nearly 8 million units (up 18.8 percent). Among the important materials, the category of other metals, mainly aluminum, registered more than 4 million units (up 8.1 percent).

In value terms, gold watches recorded the highest increase (26.5 percent), linked to an upturn in volumes of 24.2 percent. Bimetallic timepieces were not far behind with an increase of 24.7 percent.

All price segments saw robust growth in 2011, denoting interest among consumers for the entire range of Swiss watches. Timepieces costing less than 200 francs (export price) greatly influenced volumes with an increase of 2.2 million units (up 11.7%). Between 200 and 500 francs, growth was close to 20 percent, both in value and volume terms. The 500-3,000 francs range saw its value increase by 14.9 percent. Watches costing more than 3,000 francs recorded the highest rate of growth in value terms at 21.8 percent.

Other products exported by Swiss watchmaking firms, mainly components, also experienced a sharp upturn in value (18.1 percent to 1.2 billion francs).

The top 15 markets for the Swiss watch industry (total value in million francs and percentage variation by comparison with 2010):

    1.    Hong Kong    4,085.9    +28.3%
    2.    USA    1,984.6    +18.4%
    3.    China    1,636.3    +48.7%
    4.    France    1,296.4    +10.9%
    5.    Singapore    1,146.4    +27.5%
    6.    Italy    1,011.8    +9.5%
    7.    Japan    909.2    +12.6%
    8.    Germany    899.2    +17.0%
    9.    United Arab Emirates    682.9    +17.9%
    10.    United Kingdom    659.0    +10.4%
    11.    South Korea    394.5    +29.2%
    12.    Taiwan    366.9    +18.8%
    13.    Spain    355.5    +3.4%
    14.    Saudi Arabia    286.0    +11.6%
    15.    Thailand    278.6    +35.1%

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An Up Close View of Hublot's $5 Million Watch

Swiss luxury watch brand Hublot unveiled a diamond-covered $5 million timepiece Wednesday at Baselworld—the world’s largest and most important watch and jewelry fair, in Basel, Switzerland. The company released professionally photographed images of the timepiece Friday.

The watch is covered with 1,282 diamonds, including six square stones that weigh more than three carats each, according to media reports. Jean-Claude Biver, Hublot president, said it will be difficult to make a more expensive timepiece because of the size limitations on the surface of a watch.

The company said in a statement that “a completely different approach was used for its creation.” Normally, the design and technical characteristics of a haute joaillerie piece are created to match the gemstones that were selected. For the making of this timepiece, the diamond cutters started with a design and then found the diamonds that best matched the construction of the case, dial and bracelet.

“Cutters and setters then employed all of their expertise to resize them to ensure a perfect fit,” Hublot said.

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Art Deco Jewels Owned by Copper Heiress Could Fetch $12 Million at Christie’s

Huguette M. Clark

Christie’s auction house will offer a jewelry collection from the estate of Huguette M. Clark, one of the last great heiresses of America’s Gilded Age. Ms. Clark’s collection, which is believed to have been stored in a bank vault since the 1940s, includes signed Art Deco jewels by Cartier, Dreicer & Co., and Tiffany & Co., including an extremely rare 9-carat pink diamond ring and a superb 20-carat D-color diamond ring. The complete collection of 17 jewels is expected to fetch $9 - 12 million at auction on April 17 at Christie’s New York.

“In the world of fine jewelry, this is truly a fairytale collection,” said Rahul Kadakia, head of Jewelry for Christie’s Americas. “Opening the vault to find this treasure trove of period jewels from the best French houses of the early 1900s has certainly been one of the most extraordinary moments of my 15-year career here at Christie’s. The iconic Art Deco design and exceptional craftsmanship of these meticulously preserved jewels are emblematic of the great Gilded Age in American history.”

The jewelry sale is part of the estate sale of three residences at 907 Fifth Avenue in Manhattan owned by the late copper heiress. Christie’s International Real Estate has been entrusted with the sale. The limestone clad, Italian palazzo-style cooperative building on 72nd Street, designed by architect J.E.R. Carpenter in 1915, offers sprawling views of Central Park. Two of Clark’s apartments make up the entire eighth floor; the third occupies half of the 12th floor. The floor plans of her sprawling residences, which need renovation, are being made public for the first time ever.

Ms. Clark died May, 2011, at the age of 104.

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Lily Safra Charity Jewelry Auction Includes Largest JAR Collection; Could Fetch $20 Million

Caption: Left: Lily Safra. Right: A ruby and diamond Camellia flower brooch by JAR created for Safra in 2003. Estimate: $1.2 million to $1.5 million.

The jewelry collection of famed philanthropist, Lily Safra, will be up for auction at Chrisite’s Geneva on Monday May 14, with all proceeds to be donated to 20 different charitable institutions. The collection includes the largest single-owner selection of jewels by JAR ever to be offered at auction.

Regarded as a major philanthropist of our time, Safra is also a discerning connoisseur. This jewelry collection reflects her refined taste and its evolution through five decades, from the 1970s to the present day, the international auction house said. Featuring 70 lots, the sale at the Four Seasons Hotel des Bergues is estimated to fetch more than $20 million. It includes important diamonds, rubies and sapphires, as well as an array of fine antique and period jewelry.

A special section of the sale will be dedicated to a group of 18 jewels by JAR, the majority of which were created specifically for Safra by the renowned jeweler between the 1980s and 2000s. It is the largest private collection of creations by JAR ever to be offered at auction.

“Only a connoisseur with an eye as refined as that of Mrs. Lily Safra could have collected such an ensemble of jewels, and only someone with her philanthropic conviction could have expressed such powerful support to worthwhile causes in all charitable fields,” said François Curiel, international head of Christie’s Jewellery Department.

Lily Safra has carried on the philanthropic tradition of her husband, Mr. Edmond J. Safra, one of the twentieth century’s most accomplished bankers and founder of the Edmond J. Safra Philanthropic Foundation. Since 2000, she has chaired this foundation, which supports hundreds of projects related to education, science and medicine, religion, culture, and humanitarian relief in over 40 countries.

She is a passionate art and jewelry collector, and has provided assistance to several institutions, including the National Gallery of Art in Washington, the Museum of Modern Art in New York and the Musée du Louvre, where the “Salle Edmond et Lily Safra” honors the works she and her husband donated.

All the proceeds from the sale of the collection of Lily Safra will benefit the following 20 charitable institutions:

Agahozo-Shalom Youth Village, Rwanda
Children Action, Geneva
Claude Pompidou Institute for Alzheimer’s Disease, Nice, France
Edmond and Lily Safra Children’s Hospital, Tel Hashomer, Israel
Edmond J. Safra Family Lodge at the National Institutes of Health, Bethesda, Md.
Elton John AIDS Foundation (worldwide)
Fight AIDS Monaco
Henry Street Settlement, New York
Hopes and Homes for Children, Romania
Hôpitaux Universitaires de Genève
Imperial College, London: Edmond J. Safra Chair in Neuropsychopharmacology & Edmond J. Safra Chair in Radiochemistry
Institute for Brain and Spinal Cord Disorders, Pitié-Salpêtrière Hospital, Paris
Keren Shemesh, Israel
King’s College, London: Edmond and Lily Safra Parkinson’s Research Fellowships
Le ballet de l’Opéra national de Paris
New York University, Parkinson and Movement Disorder Center
Royal Opera House, London
Université Joseph Fourier, Institut des Neurosciences, Bâtiment Edmond J. Safra & Institut Clinatec, Centre de Recherche Edmond J. Safra, Grenoble, France
University of Toronto and Toronto Western Hospital, Canada: Edmond J. Safra Program in Parkinson’s Disease (Dr. Anthony Lang & Dr. Andres Lozano)
Water Treatment Program, Amélia Rodrigues, Bahia, Brazil

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12-Carat ‘Martian Pink’ Diamond Could Fetch $10 Million

12.04-ct. fancy intense pink Type IIa round brilliant-cut diamond ring, by Harry Winston. © Christie's Images Limited 2012

The largest round fancy intense pink diamond to ever appear at auction will be part of Christie’s Hong Kong Magnificent Jewels sale on May 29. The 12-ct. diamond is estimated to fetch $8 - $10 million.

The extremely rare diamond is owned by a private collector. It was purchased from Harry Winston in 1976—the same year, the United States launched its first satellite on a mission to Mars: The Viking landers. Ronald Winston named the diamond the “Martian Pink” to honor the historic event.

The Martian Pink is one of two known significant sized round pink diamonds in this world—the other being the 23.60-carat Williamson Pink diamond that was presented to Queen Elizabeth II on the occasion of her wedding in 1947. While most natural pink diamonds exhibit a color modifier like purple, orange or grey, the gem that is up for auction “shows absolutely no trace of a secondary color, making it exceedingly rare,” the auction house said. “Combined with a Type IIa characteristic, the diamond shows an extraordinary limpidity together with a lovely intense pink coloration.”

11.85-ct. D VVS1 potential round brilliant-cut diamond ring, by Harry Winston. © Christie's Images Limited 2012

A second item from Harry Winston, an 11.85-carat D VVS1 Potentially Flawless round brilliant-cut diamond, is being offered. “Its dimensions, perfected by the round brilliant cut, ensures a stunning visual display of brilliance,” the auction house said. “Combined with top D color, this brilliant-cut diamond is a wonderful example of the classic round stone.” The auction estimate is $1.7 - $2.5 million.

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The Clark Pink Diamond Sells for Record $15.7 Million

The 9-ct. Belle Epoque cushion-cut, fancy vivid purplish pink diamond ring from the estate of Huguette M. Clark sold for $15.7 million.

NEW YORK — A 9-carat pink diamond from the estate of Huguette M. Clark sold for more than $15.7 million, after intense, competitive bidding that led to an eruption of applause on the crowded auction floor at Christie’s Tuesday. It is the most valuable pink diamond ever sold in the United States at auction, according to the auction house.

The Belle Epoque cushion-cut, fancy vivid purplish pink diamond, known as “The Clark Pink,” was estimated to fetch $6 to $8 million. Clark, one of the last heiresses of America’s Gilded Age, died in May, 2011, at the age of 104. Her collection of 12 lots drew intense intentional attention because she lived a reclusive life in her later years and her jewels were believed to have been kept in a vault unseen since the 1940s.

The entire collection, which included picture frames, a clock, an American flag lapel and jewelry pieces by Cartier and Tiffany, took in a total of $20.8 million against a presale estimate of $9 million. Other significant items from the estate sale included:

* A 19.86-carat rectangular-cut diamond ring by Cartier that sold for $3.1 million;
* An Art Deco diamond bracelet by Cartier that sold for $578,500; and
* A ruby, sapphire, emerald and gold bracelet by Tiffany & Co. that sold for $266,500.

More images of the Clark estate jewelry can be found by following this link.

The collection was part of Christie’s Magnificent Jewels sale Tuesday that had 305 lots that included signature jewels, items from several estates and serious diamonds. It took in a total $70.7 million, with 95 percent of the items sold by lot and 97 percent of the estimated price realized.

More on other significant sales from the auction later today.

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Harry Winston Diamond Earrings Could Fetch Nearly $4 Million at Christie’s Geneva Sale

Pear-shaped diamond earrings by Harry Winston estimated to fetch $3.2 million and $3.9 million. Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Pear-shaped diamond earrings by Harry Winston weighing 16.21 and 15.67 carats is the top lot of the May 16 Christie’s Geneva Magnificent Jewels auction at the Four Seasons Hotel des Bergues. The set of D/VVS2, potentially flawless diamond earrings is expected to fetch $3.2 million and $3.9 million.

More than 340 lots estimated to bring in more than $50 million will be offered by the auction house in Geneva, including a colored diamond ring (whose history is closely linked to Hollywood legends Elizabeth Taylor and Richard Burton), jewelry that once belonged to Mexian movie icon Maria Felix, a diamond tiara commissioned for the wedding of Count Carlo Raggio and Marchioness Tea Spinola in 1909, and a collection of Cartier cats.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

A 12.6-carat fancy brown-orange diamond ring (pictured above) that was offered to Elizabeth Taylor by Richard Burton in 1975 while they were in Africa is estimated at $600,000 – $800,000. Taylor refused the present, arguing that the money should be spent for building a hospital in Botswana.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Other significant items include a diamond flower brooch (pictured above) that is expected to fetch $2.5 million – $3 million and a 33.07-carat cushion-shaped Kashmir sapphire ring that is estimated to sell for 2.5 million – $3 million.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

A Belle Epoque old-cut diamond tiara (pictured above) was part of a large group of exceptional jewels, specially commissioned by Italian jeweler Filippo Chiappe (1863-1936), for the wedding of Count Carlo Raggio and Marchioness Tea Spinola in 1909. Appointed court jeweler to the Savoy House and official supplier to the Italian Royal Family in 1913, Filippo Chiappe is one of the most famous Italian jewelers of his time. It has an estimate of $320,000 – $530,000.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Jeanne Toussaint, appointed director of jewellery at Cartier in 1933, is credited with the creation of “Big Cat” jewelry. The Duke of Windsor commissioned a panther brooch in the late 1940s, and since then the panther has become an iconic Cartier motif. A great example of the legendary “Big Cat” series is a diamond, colored diamond, onyx and emerald tiger brooch created by Cartier in the 1960s. Designed as a tiger hanging from a baguette-cut diamond hoop, its body, tail and head set with yellow diamonds and onyx, its estimate is $290,000 – $380,000.

The highlight of a section dedicated to antique Indian jewels is the set of diamond, enamel and gold jewelry from the collection of Mexican movie legend María Félix (1914-2002). Comprising of a brooch designed as a Mughal tulip set with table-cut diamonds, a bracelet set with octagonal and pear shaped table-cut diamonds, a necklace centering upon a table-cut diamond flower-head with old-cut diamond leaves, and a pair of modern ear pendants, designed as diamond flower-heads, this set dates back to the 19th century and will be offered as a single lot with an estimate of $1 million to $1.5 million.

Christie’s Magnificent Jewels sale will be held at the Four Seasons Hotel des Bergues, May 16 at 2 p.m. and 7 p.m. Viewings in Geneva will be held May 11 till May 16.

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The $15 Million Diamond Cocktail Dress

A diamond wholesaler recently unveiled a $15 million custom-designed cocktail dress comprised of 100 3-carat round diamonds.

A total of 85 diamonds were located on the bodice of the “little black dress,” four diamonds on each sleeve and seven adorning the back.

The diamonds were provided by Tov International, a third-generation family owned and operated New York diamond wholesale business that specializes in 3-carat round brilliant diamonds. The dress was designed by Chloe & Reese, a New York based dress designer that specializes in custom cocktail dresses.

The dress was unveiled on April 25 during a fashion show at the American Gem Society 2012 Conclave, the annual tradeshow of AGS, a trade organization that specializes in the development and maintenance of superior gemological skills and knowledge.

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Lily Safra’s Jewels for Hope Raises $38 Million for Charity, Sets 2 Records

The highly anticipated auction of “Jewels For Hope: The Collection of Mrs. Lily Safra,” held Monday at Christie's Geneva raised $37.9 million with 100 percent sold by lot and by value, far exceeding its pre-sale estimate. 

The top lot of the sale was a 32.08 carats cushion-shaped Burmese ruby and diamond ring, known as “The Hope Ruby”by Chaumet (pictured above), which sold for $6.7 million, well above its $5 million high estimate. It is a world record price for any ruby sold at auction. 

Tourmaline and diamond flower brooch by JAR sold for more than $1.2 million.

A group of 18 jewels by JAR, the largest ever seen on the market from a single-owner collection, sold 100 percent by lot and by value, totaling more than $11.4 million—the most valuable private-owner collection of JAR jewels ever sold at auction.

“Mrs. Safra received a standing ovation as she walked into the saleroom at the end of the sale to thank every buyer and bidder who contributed to this evening’s great success,” said Rahul Kadakia, head of Christie's Geneva and New York Jewellery Departments.

It was announced prior to the sale that the full proceeds from the auction would benefit 20 charitable institutions. As a result of the sale’s success, The Lily Safra Foundation decided to add 12 additional organizations as beneficiaries.

“From the bottom of my heart, I want to thank everyone who participated in this evening’s success,” Safra said. “I am overjoyed, knowing that so many people in need around the world will benefit.”

The 32 organizations that will benefit from the sale are as follows:

* Agahozo-Shalom Youth Village, Rwanda
* ALEH: Caring for Israel‟s Disabled
* Alfredo J. Monteverde School, Natal, Brazil
* A Window to Tomorrow – A Computer for Every Child, Israel
* Children Action, Geneva, Switzerland
* Claude Pompidou Institute for Alzheimer‟s Disease, Nice, France
* Edmond and Lily Safra Center for Brain Sciences, The Hebrew University of Jerusalem
* Edmond and Lily Safra Children‟s Hospital, Tel Hashomer, Israel
* Edmond J. Safra Family Lodge at the National Institutes of Health (NIH), Bethesda, Maryland
* Elton John AIDS Foundation (worldwide)
* Fight AIDS Monaco
* Henry Street Settlement, New York
* Hope and Homes for Children, Romania
* Hôpitaux Universitaires de Genève
* Imperial College, London: Edmond J. Safra Chair in Neuropsychopharmacology & Edmond J. Safra Chair in Radiochemistry
* Institute for Brain and Spinal Cord Disorders, Pitié-Salpêtrière Hospital, Paris
* Israel Philharmonic Orchestra
* Jordan River Village Camp for seriously ill children
* Keren Shemesh, Israel
* King‟s College, London: Edmond and Lily Safra Parkinson‟s Research Fellowships
* Le ballet de l‟Opéra national de Paris
* Les Restaurants du Coeur, France
* Michael J. Fox Foundation for Parkinson‟s Research, USA
* Museum of Jewish Heritage, New York
* New York University, Parkinson and Movement Disorders Center
* Royal Opera House, London
* UNICEF, USA
* Université Joseph Fourier, Institut des Neurosciences, Bâtiment Edmond J. Safra & Institut Clinatec, Centre de Recherche Edmond J. Safra, Grenoble, France
* University of Toronto and Toronto Western Hospital, Canada: Edmond J. Safra Program in Parkinson‟s Disease (Dr. Anthony Lang & Dr. Andres Lozano)
* Water Treatment Program, Amélia Rodrigues (Bahia), Brazil
* Yad Vashem International School, Israel
* Yahad-In Unum, France

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Harry Winston 'Martian Pink' Diamond Sells for $17.4 Million

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

The largest round fancy intense pink diamond to ever appear at auction sold for $17.4 million at Christie’s Hong Kong Magnificent Jewels sale Tuesday.

Known as the “Martian Pink,” the extremely rare 12-ct. diamond was owned by a private collector. It was purchased from Harry Winston in 1976—the same year, the United States launched its first satellite on a mission to Mars: The Viking Landers. Ronald Winston named the diamond to honor the historic event. It sold for approximately $1.5 million per carat. Its estimate was $8.4 million to $12.3 million. The diamond is mounted on a size-7, 18k gold ring.

Other significant diamonds sold at the auction include:

* A pair of brilliant-cut unmounted diamonds, weighing 10.88 and 10.88 carats, sold for $4.8 million. Both diamonds are of D color, flawless clarity, with excellent cut, polish and symmetry.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

* A three-diamond ring from JAR sold for $2.9 million. It consisted of a 10.67-carat D color, internally flawless, oval-shaped diamond at its center is flanked by two D color, internally flawless diamonds of 6.07 and 6.04 carats. The estimate was $2.5 million – $3.5 million.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

* A second large diamond with ties to Harry Winston, an 11.85-carat D VVS1 potentially flawless round brilliant-cut diamond, sold for just under $2 million, within its is estimate.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

* It was mostly diamonds that stole the show, but one other gemstone elbowed its way into being one of the top items sold Tuesday. A 6.04-carat Burmese ruby and diamond ring by Etcetera sold for $3.4 million, just within its high estimate. This no heat cushion-shaped stone possesses the most desirable “pigeon’s blood red” color.

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$7.8 Million, 12-Carat Pink Diamond

Majestic Pink Diamond

A 12.27 fancy pink diamond is being offered by M.S. Rau Antiques in New Orleans. Known as the “Majestic Pink Diamond,” it has characteristics that are among the most desirable and rare in fancy colored diamonds, including VVS1, Type IIa designation.

Type IIa colored diamonds are among the most desirable by collectors because they rarely contain internal imperfections and are famous for their color. The VVS1 designation translates to “Very, Very Slightly Included,” denoting very high clarity—rare for a colored diamond of this size.

The cushion-cut diamond is mounted on an 18k rose gold and platinum ring. The asking price is $7.85 million.

The pink diamond ring will go on display online on the 1stdibs.com website beginning August 8. For those who like to view the diamond in person, it will be on display at the Baltimore Summer Antiques Show, August 23 – 26.

Please join me on the Jewelry News Network Facebook Page and on Twitter  @JewelryNewsNet.

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76-Carat Archduke Joseph Diamond Expected to Fetch $15 Million

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The Archduke Joseph Diamond ©Tony Falcone

It has royal origins and was owned by royalty and now the legendary Archduke Joseph Diamond will be offered at Christie’s auction in Geneva on November 13. The auction house says it is one of the rarest and most famous diamonds in the world that combines an impressive size of 76.02 carats, perfect color, and internally flawless clarity.

Christie’s says the estimate is available on request but it is expected to achieve $15 million in the upcoming auction.

Its origin is traced to the ancient Golconda mines in Central India, the source of the world’s most coveted historical diamonds, including the Koh-i-noor, in the Royal Collection at the Tower of London; the Regent, considered the finest diamond in the French Crown Jewels, at the Musée du Louvre in Paris; and the Hope, gifted by Harry Winston to the Smithsonian Institution in Washington D.C.

This same diamond “created a sensation when Christie’s Geneva offered it for sale the first time in November 1993 where it realized CHF 9.7 million (US$ 6.5 million)—the equivalent of $10.5 million today,” said François Curiel, InternationalHead of Christie’s Jewellery Department. “The magic of auction sometimes brings back great gems to our salerooms more than once.”

Although it is not known exactly when the diamond entered the House of Habsburg, it has been officially recorded as the property of the Archduke Joseph August of Austria, Palatine of Hungary (1872-1962), and was subsequently named after him.

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Hublot Raises $1 Million At Charity Boxing Auction

Champion boxers participate in WBC fundraiser. AFP PHOTO/Sandy Huffaker/Hublot

Swiss luxury watch brand Hublot created 12 unique timepieces dedicated and signed by 12 legendary boxers in support of the inauguration of the World Boxing Council Charities. The 12 watches were then auctioned off Saturday during the gala dinner at the at the Bellagio hotel raising $1 million for the fund.

The boxing champions who participated in the auction included Mike Tyson, Sugar Ray Leonard, Lennox Lewis, Jeff Fenech, Larry Holmes, Tommy Hearns, Roberto Duran, Azumah Nelson, Julio Cesar Chavez, Oscar De La Hoya and George Foreman. 

Boxing legend Thomas "Hitman" Hearns is seen with the Hublot King Power timepiece. AFP PHOTO/David McNew/Hublot/Handout

The all-day event included a press conference with Hublot CEO, Ricardo Guadalupe, and the 12 legendary boxers. Each champion spoke about the partnership between Hublot and the WBC and presented their individual Hublot King Power WBC timepiece.

More than 300 persons then attended the evening gala where top boxing announcer, Michael Buffer, led the live auction on a staged ring with international auctioneers, Bonhams. The 12 winning bidders received their watch from each fighter.

All of the funds raised will support the charitable initiative of the WBC, including the retired boxer’s pension and emergency fund in over 40 countries around the world.

The World Boxing Council is the world's largest sports sanctioning body with operations in 164 countries and 10 federations. It is the owner of the “Green Belt,” the highest form of recognition a champion boxer can receive.

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50-Carat Flawless Diamond Sells for $9.5 Million

50.52-Carat Pear-Shaped Diamond that sold for $9.5 million.
CHRISTIE'S IMAGES LTD. 2012

NEW YORK — Big diamonds sparkled during Christie’s sale of Magnificent Jewels in New York on Tuesday. Leading the way was a pear-shaped D color flawless diamond of 50.52 cts., which sold for $9.5 million, or $188,000 per carat, to a private collector. The stone is mounted in platinum and may be worn suspended from a necklace with a 2.28 carat, circular-cut D-color diamond surmount.

It was one of several major diamond lots sold during the auction of 369 lots held during two sessions Tuesday. The other top sellers were:

CHRISTIE'S IMAGES LTD. 2012

* A pair of pear-shaped fancy yellow and colorless diamond ear pendants of 52.78 and 50.31 cts.(pictured above)  that achieved $4.5 million. The diamonds are surmounted by circular-cut fancy yellow and white diamonds Mounted in yellow and white gold. The pendants may be easily swapped or detached completely, giving the owner three options for how to wear them. Its estimate was $4.5 - $6.5 million. The buyer was listed by Christie’s as Aleks Paul of Essex Global Trading.

CHRISTIE'S IMAGES LTD. 2012

* A 68.35-carat oval-cut fancy intense yellow, internally flawless diamond sold for $3.16 million. The gem with excellent polish and symmetry had an estimate of $2.2 - $3.2 million.

CHRISTIE'S IMAGES LTD. 2012

* A pear-shape fancy light pink SI1 diamond ring sold for of 10.52 cts sold for $2.21 million, or $210,000 per carat; well above its estimate of $1 million to $1.5 million.

* A 28.20-carat square-cut fancy intense yellow VVS1 diamond ring by Van Cleef & Arpels that sold for $902,000.

CHRISTIE'S IMAGES LTD. 2012

* A 10.05-carat pear-shaped diamond on a ring, flanked on either side by a pear-shaped diamond, mounted in platinum took in more than $1.2 million.

* A 12.05-carat pear-shape F color flawless diamond that sold for $842,500.

* An 11.68-carat marquise-cut F color VS1 diamond ring by Harry Winston that sold for $746,500.

All totaled, the auction achieved $50 million and had a sell-through rate of 87 percent by lot and 93 percent by value.

“Private collectors and dealers reacted more than positively to a 369-lot auction that was finely-tuned in terms of prices and selection of gems to current market conditions,” said Rahul Kadakia, Head of Jewelry, Christie’s Americas and Switzerland. “Natural pearls, colorless flawless diamonds, and colored diamonds of high quality once again dominated the day, making for a vibrant atmosphere in the saleroom.”

CHRISTIE'S IMAGES LTD. 2012

Natural pearls again proved to be a dynamic force in the auction market. This was underscored by the sale of a double strand natural pearl necklace for $3.66 million (pictured above). It has 120 large-sized individual pearls, ranging in size from 6.50 mm to 12.25 mm in diameter, and ranging in coloration from white to light cream, with subtle rosé and green overtones and superb luster. It is accented with a 3-carat, D color diamond clasp signed by Cartier. Its estimate was $2.8 – $3.5 million.

During the morning session, a single strand of 83 natural pearls, measuring from approximately 3.15 to 9.75 mm, sold for $158,500, nearly double its high estimate; and an antique diamond and sapphire brooch set with a natural baroque pearl, measuring approximately 15.90 – 16.70 x 20.40 mm, brought in $170,500, nearly tripling its high estimate.

CHRISTIE'S IMAGES LTD. 2012

In addition, a 32.31-carat cushion cut Burmese sapphire ring (pictured above) sold for $986,500, nearly double the high estimate of $500,000.

Bidding was robust throughout the day, gaining strength in the afternoon session, with dealers in the back of Christie's saleroom loudly clamoring for attention, competing with those in the front of the room and many phone and online bidders.

Sharing the auctioneer duties was Kadakia, along with Christie's Asia president, François Curiel, the Christie’s jewelry veteran who moved to Hong Kong recently to head the auction house’s jewelry operation in the booming Asia market.

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Georg Jensen Acquired by Investment Group for $140 Million

Georg Jensen Fusion Rings

Investcorp, a group that invests in what it calls “alternative products,” said Monday that it has signed a definitive agreement to acquire Danish luxury silver brand, Georg Jensen, for $140 million from private equity group Axcel Capital Partners.

With the sale comes a change in key personnel. David Chu, founder of Nautica, will join the company on closing as chief creative director and co-chairman of the Investcorp board. Also joining the board on closing will be Guy Leymarie, former CEO of DeBeers Diamond Jewellers, Cartier International and Dunhill.

Georg Jensen is a global luxury brand that designs, manufactures and distributes silver jewelry, watches, fine silverware and high-end housewares. With a history that spans more than 100 years, the Georg Jensen brand has a deep heritage in fine silver goods and represents quality craftsmanship and timeless designs.

“We are pleased to be entrusted with taking Scandinavia's preeminent luxury brand to a global level. We believe that in partnership with the current solid management team, said Hazem Ben-Gacem, head of Investcorp's European corporate investments activities. “Georg Jensen stands to become one of the leading hard luxury brands in the 21st Century.”

Georg Jensen was founded by the eponymous Danish designer in 1904. Today the business has 94 fully owned stores and three franchised stores around the world. The vertically integrated company has approximately 1,200 employees worldwide. In 2011, the company had sales of approximately $160 million. Georg Jensen is part of the Royal Scandinavia Group, which was bought by Axcel in 2001. 

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Harry Winston to Pay $500 Million for Ekati Diamond Mine

Ekati Diamond Mine
Photo credit: Jason Pineau, through Wikipedia

Harry Winston Diamond Corp. said Tuesday that it has entered into share purchase agreements with BHP Billiton Canada Inc. and other affiliates to acquire all of BHP Billiton’s diamond assets, including its controlling interest in the Ekati Diamond Mine as well as the associated diamond sorting and sales facilities in Yellowknife, Northwest Territories and Antwerp, Belgium.

The Ekati Diamond Mine, located in the Northwest Territories of Canada, consists of the Core Zone, which includes the current operating mine and other permitted kimberlite pipes, as well as the Buffer Zone, an adjacent area hosting kimberlite pipes having both development and exploration potential. The agreed purchase price, payable in cash, is $400 million for the Core Zone interest and $100 million for the Buffer Zone interest, subject to adjustments in accordance with the terms of the share purchase agreements.

“Completion of this acquisition will bring the opportunity to marry our Canadian diamond sorting and marketing skills with an experienced mine operating and development team, a world class operating asset, and future growth potential,” said Robert A. Gannicott, Harry Winston chairman and CEO. “Together with our existing mining business, these assets will serve as our platform for sustained, disciplined growth in the upstream diamond sector.”

Harry Winston, known for its luxury retail salons throughout the world, also supplies rough diamonds to the global market through its 40 percent ownership interest in the Diavik Diamond Mine, also located in the Northwest Territories. The company was looking to sell its retail assets, according to media reports, which it denied. Harry Winston also was reportedly in talks to buy the remaining interest in Diavik from its partner in the venture, Rio Tinto Diamonds. Talks between Harry Winston and BHP Billiton for the Diavik Diamond Mine were first reported in August.

The Ekati Diamond Mine, approximately 310 kilometers northeast of Yellowknife in the Northwest Territories of Canada, includes both open pit and underground operations and is Canada’s first, and largest, diamond producer, having begun production in 1998.

The Ekati Diamond Mine has produced an average of approximately three quarters of a billion dollars of rough diamonds per year over the past five years, Harry Winston said in a statement. Over that period sales from the Core Zone represented approximately 6 percent of world rough diamond supply by value. The current phase of production at the Ekati Diamond Mine includes ore sourced primarily from the lower grade, but high carat value, Fox open pit supplemented by underground production from the lower portion of the Koala kimberlite pipe and from the Koala North pipe. Although production in the next two years is forecast to be lower than the average achieved over the last five years, it is expected to return to higher levels as the mine transitions to higher grade, but lower carat value, ore from the Misery and Pigeon open pits. The current Ekati mine plan calls for a further seven years of production, but there are additional resources which could become economic with increased diamond prices.

The Core Zone and the Buffer Zone are subject to separate joint venture agreements. BHP Billiton holds an 80 percent interest in the Core Zone and a 58.8 percent interest in the Buffer Zone, with the remainder held by the Ekati minority joint venture parties. Harry Winston has agreed to purchase BHP Billiton’s interests in each of the Core and Buffer Zones. Pursuant to the joint venture agreements, BHP Billiton will first separately offer to the joint venture parties its interest in each of the Core and Buffer Zones on the same terms as those agreed to by Harry Winston. The joint venture parties will then have 60 days to elect to acquire either or both of those interests. Any interests that the joint venture parties do not elect to acquire within that time period can then be transferred to the Company in the following 60 days.

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World Record for a Colorless Diamond: 76-Carat Archduke Joseph Diamond Sells For $21.5 Million

The 76-carat diamond is considered is the largest D-color, Internally Flawless diamond from the historic Golconda region. It was the property of the Archduke Joseph August of Austria, Palatine of Hungary (1872-1962). Photo credit: Tony Falcone

A large, D-color, Internally Flawless diamond with outstanding pedigree in origin and ownership sold for $21.5 million at Christie’s Geneva Magnificent Jewels auction on Tuesday, setting a world record for the sale of a colorless diamond.

The 76-carat Archduke Joseph Diamond was sold to a phone bidder during the auction held at the Four Seasons Hotel des Bergues, Geneva. The unmounted, cushion-shaped gem is from the historic Golconda region of India, one of the oldest diamond mining regions in the world and where some of the most storied diamonds on earth were discovered. The Gemological Institute of America said it is the largest D-color, IF diamond it ever graded from the historic region. It was the property of the Archduke Joseph August of Austria, Palatine of Hungary (1872-1962), a member of the House of Habsburg. 

“I am thrilled but not surprised that the Archduke Joseph Diamond should have fetched such a high price,” said the former owner of the diamond, Alfredo J. Molina, CEO of America’s Black, Starr & Frost jewelers. “I was blessed to be the Archduke’s guardian and champion for the past 13 years, and indeed it has become part of my very identity.”

The auction took in more than $85 million, selling 84 percent by lot and 86 percent by value. This result, combined with the total achieved for the category in May, concludes the most successful year for Christie’s jewelry department in Switzerland, with annual sales exceeding $195.2 million.  

Highlights of the sale include: 

A Pair of Unmounted Brilliant-Cut Diamonds. The twin gems sold in separate lots each for $2.1 million. The diamonds were each 25.28 carats and have identical G color, VVS1 clarity characteristics. Each gem also has the same estimate of $2.3 million to $2.5 million.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Colored Diamond and Diamond Brooch by Wartski. The shield shaped fancy intense blue diamond center, SI1clarity, weighing approximately 3.33 carats, flanked on either side by single old-cut pear-shaped diamonds with a suspended diamond. Wartski, the London antique jeweler, is a “royal warrant of appointment” for the British Royal Family. Estimate: $1 million - $1.4 million. Sold for $2.4 million.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Sapphire and Diamond ‘Transcendence’ Butterfly Brooch by Cindy Chao. The body of the pavé-set diamond butterfly is a pentagonal-cut diamond, weighing approximately 3.01 carats, the wings are enhanced by briolette diamonds, sapphire beads and vari-cut sapphires. It is mounted in titanium and gold and signed by artist.

Photo credit: Denis Hayoun - Diode SA

Bulgari Art Deco Sapphire and Diamond Sautoir. The circa 1930s baguette and circular-cut diamond geometric pendant is centered upon a star sapphire, suspended from a sautoir composed of cabochon sapphire and diamond cluster panels with diamond collet connecting links. Estimate: $320,000 - $530,000. Sold for $662,483.

A 70-carat unmounted rectangular-cut fancy vivid yellow diamond failed to sell. It had an estimate of $3.1 million to $5 million. 

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