Tiffany's Paris Flagship Property For Sale

The property that houses Tiffany & Co.’s flagship Paris boutique has been placed on the market for more than 30 million euros ($40 million). However, the luxury retail jeweler will not be leaving the space.

Commercial real estate services firm, CBRE, said in a statement that it has been instructed to sell what it calls “a trophy retail asset” located at the entrance to Place Vendome at 6 rue de la Paix. The 8,230-square-foot space is being sold in behalf of a private owner. It contains two retail jewelers, the second store being Kornmesser, a private Austrian luxury jewelry and porcelain retailer.

Both tenants recently committed to new long term leases, CBRE said.

Rue de la Paix is one of the most prestigious addresses in the French capital. Known as the centre of luxury retail in the city, jewelry brands in the area include Bulgari, Van Cleef, Hermes and Cartier. Luxury brands moving into the area include Louis Vuitton, which plans to open its flagship Parisian store on Place Vendôme, and luxury Swiss watch brand, Breguet, which will be opening its world’s largest store.

"Prime retail properties of this quality and with this strength of tenant are rare,” said Larry Young, International Investment, CBRE Capital Markets Paris.

Initial offers are being sought in late March, he said.

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26-Carat Diamond and Platinum Ring Sells for $623,000 in Paris

A 26.10-carat round brilliant cut yellow diamond and platinum ring (above) was top seller at Christie’s Paris auction on Tuesday, fetching $623,000. An Art Deco diamond and rock crystal necklace by Cartier (below) fetched more than $413,000, or $23,869 per carat. 

The auction, held at the Christie’s Paris sales office at avenue Matignon, totaled nearly $3.9 million, with selling 80 percent of items sold by lots and 84 percent by value.

“Natural pearls, diamonds and signed jewels remain the three most popular themes and fetched strong prices in today’s Paris auction,” said Marie-Laurence Tixier, head of the Paris jewelry department. 

An antique natural pearl and diamond brooch by Suzanne Belperron (above) sold for €121,000 ($151,000), which was six times its pre-sale high estimate.

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Vacheron Constantin's New Paris Boutique

Vacheron Constantin has brought its luxury Swiss timepieces to a storefront in Paris. It is the company’s 35th boutique around the world and its first in the “City of Light.”

The interior of the 915-square-foot space at 2 Rue de La Paix uses neutral light colors contrasted with dark materials—such as woods, bronze, wrought iron and leather—to create a discreet, luxurious atmosphere. The brand brought in French master artisans to create statement details.

Mathieu Lustrerie, a specialist in light restoration for historical monuments, created a “Saturn” chandelier made of rock crystal, while mosaic artist Pierre Mesguich bejeweled it by hand with 35,000 tiny marble cubes (pictured above). The boutique’s artistic wrought iron decorative elements were tailor-made by Les Métalliers Champenois, whose other works include the restoration of the Statue of Liberty.

The boutique will contain a full line of Vacheron Constantin timepieces as well as a vintage collection named Vacheron Constantin les Collectioneurs,” which are accompanied by a certificate of authenticity.

The collection includes a boutique-exclusive of its 1972 Prestige timepiece, known for its ultra-thin, asymmetrical shape, its 1003 movement and the Prestige de la France coat of arms engraving on its back. The dial of the 18k gold watch shines like silver. It is available at the boutique in a limited-edition of 40 units.

To mark the opening of the Parisian boutique, the Geneva manufacturer commissioned photographer Thierry des Ouches to illustrate his vision of Vacheron Constantin in Paris through his lens. Five owners of Vacheron Constantin timepieces tell the tale of their watches, their Paris, their love of the exceptional and the values they share with Vacheron Constantin on www.2ruedelapaix.fr.

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