Jewelry News Network

The "Purple Orchid" diamond

A fancy intense pinkish purple VS2 diamond will be shown to the public for the first time during the September Hong Kong Jewellery & Gem Fair. The 3.37-carat gem, named the “Purple Orchid,” has an asking price of $4 million, or nearly $1.2 million per carat. Leibish & Co., an Israeli firm that owns the diamond, says it’s a “once-in-a-lifetime” find.

The diamond will be on view at the AsiaWorld-Expo near Hong Kong International Airport September 15 – 19. The jewelry tradeshow is only open to qualified jewelry professionals. The Hong Kong jewelry show is also located at the Hong Kong Convention & Exhibition Centre from September 17 – 21.

Leibish & Co., which sells its fancy colored diamonds and jewelry online at www.leibish.com, says the gem originated from an unnamed South African mine, one of the very few in the world where purple diamonds can be found. The company purchased the diamond as a rough of more than 4 carats and spent four months cutting and polishing the gem.

Leibish Polnauer, president of Leibish & Co., says it is a “once-in-a-lifetime” find. “There is nothing more unique on the market right now than color diamonds, and this incredible purple diamond is more than a cut above the rest. There are very, very few diamonds on the market above 3 carats with purple as the main color, which is what makes this exquisite diamond so rare.”

There isn’t a lot of documentation on how purple diamonds get their color, but it is believed that it is the combination of crystal lattice distortion (which is also involved in the creation of pink diamonds) and high amounts of hydrogen.

Leibish & Co also views this diamond as a fashion-forward statement as it says the color of the diamond is associated with “Radiant Orchid,” the Pantone color of year for 2014.

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Royal Star of Paris

The Biennale des Antiquaires at the Grand Palais in Paris hosts some of the top high jewelers in the world who release special collections every two years just for this event. Graff Diamonds marks its return to the show by unveiling a new collection led by two statement jewels centered by standout diamonds and gems: the “Royal Star of Paris,” and “Le Collier Bleu de Reve.”

The Royal Star of Paris, a brooch (which also can be worn as a pendant) has two diamonds of at least 100 carats each: the “Graff Sunflower,” a 107.46-carat fancy yellow cushion cut diamond and the “Graff Perfection,” a 100-carat D flawless pear shape diamond drop.

“We create legendary stones with remarkable stories to tell, one such diamond is the Graff Perfection, Graff said. “Following many hours of painstaking work, we unleashed the true potential of an incredible 225 carat rough diamond, transforming it from perfection to ultra-perfection.”

Le Collier Bleu de Reve

Le Collier Bleu de Reve is set with a 10.47 carat fancy vivid blue internally flawless briolette diamond. The other key stone is a 4.22 carat untreated old-mine Colombian emerald. The central element of the jewel can be detached from the beaded diamond necklace and worn alone as a brooch.

“I truly believe that when you are searching for the perfect precious gemstone you should look for an emerald greener than green,” Graff said. “The emerald in this necklace really is greener than green and incredibly clear.”

The remaining pieces in the Biennale collection continue the theme of stone-led design; with brooches made of rare colored diamonds and gemstones, necklaces depicting natural motifs using gemstones, and designs with beaded tassels all complemented by bracelets and earrings.

All of the jewels, including the statement pieces, are hand-crafted at Graff’s London atelier.

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As expected, Anoop Mehta, president of the Bharat Diamond Bourse and Ahmed Bin Sulayem, executive chairman of the Dubai Multi Commodities Centre led this year’s crop of 20 JNA Awards recipients. The honorees were front and center during a ceremony and gala dinner held Tuesday at the InterContinental Hong Kong.

More than 600 people worldwide jewelry industry leaders attended the event, including Jean-Marc Lieberherr, managing director of Rio Tinto Diamonds, Kent Wong, managing director of Chow Tai Fook Jewellery Group Limited, and ; Raphael Gübelin, CEO of Gubelin Group.

Organized by JNA, the awards gala dinner was the culmination of a year-long effort to recognize individuals and companies that are raising the bar for quality, innovation and excellence in the jewelry industry. The event was held during the September Hong Kong Jewellery & Gem Fair. Only in its third year, the JNA Awards has quickly grown to become one of the most important and largest awards programs in the global jewelry industry.

Mehta received JNA’s Lifetime Achievement Award–one of the highest accolades in the global jewelry and gemstone industry and the most esteemed tribute conferred by the JNA Awards. Mehta was honored for his work at the BDB, which ensures that the diamond trade between India and the rest of the world is fair, efficient and robust.

Bin Sulayem received the “Outstanding Contribution of the Year Award” for his accomplishments on the DMCC and Dubai and on the global gemstone and jewelry industry. Under Bin Sulayem’s strong leadership, Dubai has become one of the leading diamond trading centers in the world, serving a pivotal role as the “New Silk Road.”

Other of the 2014 JNA Awards were given to the following individuals and companies:

* Brand of the Year – Retail: Paspaley

* Employer of the Year: Pandora Production Co Ltd

* Retailer of the Year: Chow Tai Fook Jewellery Group Ltd

* E-tailer of the Year: Shanghai Wisdom Jewelry Trading Co Ltd (Zbird)

* Industry Innovation of the Year – Manufacturing – Business: Frank Wu Design

* Industry Innovation of the Year – Manufacturing – Technology:

China Stone Co Ltd; Fukui Shell Nucleus Factory; Diamond Services Ltd and Shenzhen United BlueOcean Technology Development Co Ltd

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The traditional Dragon Dance that opens the finished jewelry portion of the September Hong Kong Jewellery & Gem Fair each year.

I left Shanghai the same way I arrived into Hong Kong, riding the tailwinds of a typhoon. In between, the weather changed from hot and humid to overcast and blustery. The September Hong Kong Jewellery & Gem Fair was unusual this year because the overall attendance was as unpredictable as the unsettled weather.

The first two days of the fair held at the AsiaWorld-Expo (September 15 – 19) for jewelry making materials and equipment, packaging and other supplies, saw attendance surge by 11.2 percent compared with the prior year. Even for a show that has experienced substantial growth for nearly its entire 31-year existence, this was impressive. The jump in attendance seemed even more remarkable because it happened at a time the city was experiencing a category 8 typhoon. Free shuttle service from downtown to the expo building near the airport was suspended. Yet buyers still made their way to the fair and they were spending. By all accounts diamond dealers were happy, even ecstatic in some cases. This is no easy group to please.

On the third day the fair’s focal point shifted downtown to the Hong Kong Convention & Exhibition Centre (September 17 – 21) where the portion of the show for finished jewelry began. At this venue, something even more peculiar happened. The number of attendees appeared to have dropped compared with previous years. Comparison numbers were not available as of this writing; but the first indication that things were different this year was at the registration desk on opening day. Based on my experience, the crowd of buyers would be stacked layers deep and even overflowing onto the lobby area. This year, while still crowded, the overflow of people wasn’t there.

The second day there appeared to be even fewer people. The exhibition floors of the convention center were still humming and business was still being conducted but it lacked the overall vitality of prior years. However, by the third day the buyers were back in force, making it difficult to get around. I think the official numbers will support this view.

The leaders of the Hong Kong jewelry and gem industry at the opening day press conference.

Wolfram Diener, the energetic, friendly and accessible senior VP of UBM Asia Ltd., responsible for the massive jewelry portfolio of the tradeshow and publishing company, seemed to take all of the ups and downs in stride. During an interview at opening day at the convention center he refused to blame the typhoon for the apparent early drop in buyers at the convention center.

“The typhoon had no effect. It may have caused delays in a few overseas flights but that’s it. It’s business as usual,” he said. “The Hong Kong buyers will come.”

In fact, Diener says the waiting line in prior years has been a problem, and it is being remedied by the creation of other registration areas. So at least part of the reason the lines were not as long as in the past was due to a more efficient registration system.

As already noted, by the third day the buyers (whether from Hong Kong or other areas) did come.

He also wasn’t surprised by the substantial increase in buyers for raw materials, which, according to those who were there for the remainder of the show, remained strong.

He seemed to think that in the end the world’s largest B2B jewelry trade fair will meet its conservative forecast and report a slight gain in attendance to more than 52,000 buyers (another annual record). The slower growth is due to a number of regional concerns, he says, in particular, the brutal violence and political unrest in the Middle East, the Western sanctions imposed on Russia, and the still weak European economy.

“We have fewer buyers from the Middle East and Russia,” he says.

Even local politics are becoming an issue. This came up during the opening day press conference. As explained to me, when Hong Kong was returned to Chinese rule, the Chinese government guaranteed that the city would eventually become fully democratic. This hasn’t happened, there is no movement toward this and it is causing political unrest in the city. There is also an issue with the high cost of living in the city that is having an adverse effect on the quality of life for middle class families, who live in the shadows of new luxury high rise buildings being built largely for investment purposes.

Kent Wong, chairman of the Hong Kong Jewellers’ & Goldsmith’s Association, responding to a question about these local issues, says that in the short term the impact on the jewelry business in the city is minimal. In the long term it may present a challenge, adding, “I’m an optimist.”

It’s difficult not to be an optimist when it comes to the Hong Kong fair. As Diener stresses, it is truly a global fair. At any given moment during the weeklong event you will have Brazilians doing business with Italians, Germans doing business with Thais, luxury brand representatives shopping for materials, retailers from all over the world looking for jewelry ranging from the mass produced and inexpensive to haute couture.

It is the one place in the world where you can get a feel of what’s happening in the jewelry industry. Judging from this year’s event, it appears that retailers are being cautious when it comes to their inventories but this isn’t stopping manufacturers and designers from creating new jewelry.

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Lacecap hydrangeas made of 18k white gold, diamond pavé and the Japanese lacquer techniques, Makie and Urushi by Maillet D’Or.

I can get caught up on attendance and geopolitical issues and how it affects the September Hong Kong Jewellery & Gem Fair, but the event is first and foremost a jewelry show. As always there was plenty to behold, much more than this humble journalist can see in a few days.

Camellia flower brooches in 18k white and green gold, with diamonds, tsavorites and urushi Japanese lacquer by Maillet D’Or.

There were nearly 3,700 exhibitors this year, far more than any other jewelry trade fair in the world, providing everything one could ever possibly see in one place at one time in the world of jewelry. It includes pieces ranging from inexpensive mass produced products to exquisite examples of high jewelry art and materials ranging from silver and amber to the finest gems and diamonds.

Japanese coral ring by Maillet D’Or

I’ve included a brief listing of what I was able to discover at this year’s fair.

A variety of ring mounts by Gold Source Jewellery.

My biggest find is a Japanese family firm that specializes in handmade high and bespoke jewelry, Atelier Maillet D’Or, exhibiting under the brand, Okurado, produces nature inspired designs made of 18k yellow and white gold covered in diamond pavé. In some cases the colors of metals are mixed.

"Fortune" stackable rings in a variety of colors and designs by Gold Source Jewellery under its 5 Star Jewelry brand.

One of their unique attributes is the use of Japanese lacquer techniques. They also use enamel and Japanese coral in elaborate ways, such as camellia flower designs made of carved white coral and urushi lacquer.

Contemporary design for this white gold and diamond Ascension ring by Inspired Jewellery.

The Japanese royal family and Prince Albert of Monaco are among those who admire and wear their works. Company president Hitoshi Okura said it was the first time the family firm was exhibiting at the show. They chose to be part of a group of jewelry designers in a booth provided by Frank & Label, a company that represents fine jewelry designers in China.

Colorful pave rings by Rodney Rayner.

At the other end of the spectrum there’s Gold Source Jewellery, which specializes in creating ring mountings, primarily for bridal jewelry as well as lines of colorful, affordable finished fashion jewelry pieces under the 5 Star Jewelry brand. The company produces thousands of pieces each month that are exported all over the world.

A variety of one-of-a-kind jewelry designs from L'Dezen Jewellery.

Then there’s a New Zealand firm named Inspired Jewelry that specializes in contemporary jewelry designs made primarily of white gold and platinum with diamonds. Invisible mounts and metals with unusual bends and curves are the basis of their architecture-inspired designs.

The company also has a second business providing design and marketing services to diamond manufactures who want to produce accessible finished jewelry pieces.

Also in the Frank & Label booth was UK designer Rodney Rayner, who specializes in bold and colorful jewelry created with a variety of precious materials. He says he sells his pieces just about everywhere in the world except, inexplicitly, in his home country.

Finally, there’s someone whom I’ve written about before, Payal Shah, owner of L'Dezen Jewellery, who is making quite a name for herself with her unusual shaped pieces finished with slice and rose cut diamonds mounted in 18k gold in various colors. The brand produces what seems like a near endless variety of one-of-kind designs. Her jewelry is becoming available at more retailers and appearing on celebrities, most recently on actress Sofia Vergara.

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Amber and silver "Wave" ring by Jacek Ostrowski

When a friend from the Polish jewelry industry told me during the recently concluded "Gold Silver and Time" tradeshow that the price of amber is comparable with the price of gold, I thought she was exaggerating. It turns out she was being conservative. Good rough amber sells for up to $60 a gram, about $20 per gram more than gold.

Colorful cuffs by Marcin Zaremski

This came home to me when a woman working for Amber Apple, an amber and jewelry company, showed me a giant bracelet made entirely of rough amber. It was hard to me to believe it was a serious piece of jewelry for anyone other than Wilma Flintstone. I asked who would wear such a thing? The woman behind the counter said "A very large woman." It turns out she would also have to be a very rich woman as that bracelet was valued at more than $10,100.

Rough amber bracelet by Amber Apple valed at more than $10,100. Photo credit: Anthony DeMarco

The reason for this is none other than China, which seems to be sucking up the world’s natural resources (amber is fossilized tree resin) faster than the billions of years it took the earth to produce its bounty. The Chinese are buying rough amber, driving up the price to a ridiculous level, and using it to make inexpensive jewelry to sell to its own market.

Pendant necklace made with layers of amber and driftwood by Marta Wlodarska of Amberwood

Much of the amber in the US and other markets is used for inexpensive jewelry matched with silver. However, the escalation in its price has had a detrimental impact on this market. The result is that with rough amber costing more than gold, the Polish jewelry industry has turned to the creativity and originality of its top jewelry designers to distinguish itself in the international marketplace. Poland is the world’s second largest producer of silver jewelry and many of these designers primarily work with silver, gold and other metals.

3D necklace made of oxidized and gold-plated silver by Alicia Jakub Wyganowscy. Photo credit: Anthony DeMarco

At the tradeshow, several designers were featured in a special exhibit that coincided with the 25 year anniversary of Poland’s Solidarity movement. Tradeshow officials also dedicated about 60 exhibit spaces to these designers at a discounted price. That’s a significant number considering the tradeshow hosted a little more than 300 exhibitors.

Bracelet made with exotic wood, silver and gold by SzwedDesign

“The young people are creating jewelry that is interesting and different … very creative,” says Rafał Galimski, president of the MCT International Fair Centre, co-organizer of the trade fair. “We try to help them with the 60 stands.”

Amber and silver firefly resting on a piece of amber by Malgorzata Wasowska Jewellery Company

One of the selling points of Polish jewelry design (in addition to originality, design and craftsmanship) is value. The Polish currency, the Zolty, is worth about 25 percent of what the euro is worth. Poland is already an EU member and someday the country will adopt the European currency, although there is no timetable to do so. Once that happens, the cost of Polish jewelry will increase significantly. Collectors of modern jewelry may want to stock up on these pieces now. While acknowledging that adoption of the euro will be good for the country overall, Galimski says he isn’t looking forward to the increase in jewelry prices that will no doubt follow.

A yellow amber necklace by Marta Wlodarska of Amberwood.Photo credit: Anthony DeMarco

Poland’s largest jewelry markets for Polish designer jewelry are Germany, China, Italy and the US.

Many of the designs combine a modern aesthetic with a unique artistic perspective from being isolated from the rest of the world during the Soviet occupation. In fact, the approach of many of the designers is artistic rather than market driven.

Amber and silver necklace by Jacek Ostrowski.Photo credit: Anthony DeMarco

“Poland is a post-Soviet country,” said Warsaw-based Marcin Zaremski, the veteran of seven jewelry designers who presented their works to reporters. “We didn’t have the formal education, so we had a lot of artists that created jewelry. I think we developed in that direction very well.”

Coloful metal necklace by Marcin Zaremski

While speaking for Polish jewelry designers in general, Zaremski wasn’t necessarily speaking for himself. He did have a formal education, attending the Academy of Fine Arts in Warsaw with the intent of pursuing an interior design career. However, he chose to follow his parents lead and take up jewelry design but with a personal take. His jewelry and art objects are perhaps the most accessible of the group, creating pieces with all kinds of metals from gold and silver, to steel and copper.

A piece of Csarite, a gem known for changing colors, along with jewelry made from the gem exclusive to mines in the Anatolian mountains of Turkey by Novvak Jewellery. The same gem is also marketed as Zultanite.Photo credit: Anthony DeMarco

A younger designer whose is getting international attention is Jacek Ostrowski from the northern Polish city of Gdansk, the center of the country’s amber jewelry industry. He works with silver, colored acrylic, crystal Swarovski Elements, and of course, Baltic amber.

“My projects are dominated by the geometry of the shape,” he says. “I’m fascinated by the simplicity of form.”

More rough amber from Amber Apple.Photo credit: Anthony DeMarco

Meanwhile, Marta Wlodarska of Amberwood is a purist. As amber is fossilized tree resin, she chooses to create jewelry by pairing the material, sometimes in its natural state, with driftwood from the same beaches of the Baltic Sea where amber is found.

“I am fascinated by these two organic materials … the possibility to discover the things that have been hidden for millions of years,” she says. “Every piece of amber has its own story.”

However, she doesn’t shy away from using more exotic woods, such as African ebony, brick-red Padouk, and violet Amaranth.

There were plenty of traditional manufacturers working with silver, amber and other materials that were interesting as well. Among them was Novvak Jewellery, a Warsaw-based company working with a gem marketed under the name, Csarite, which comes from specific mines in the Anatolian mountains of Turkey. It’s unique to the remote area. The gem is known for its ability to change colors, from green to purplish-pink depending on the light. The same gem also is marketed under the name, “Zultanite,” which will no doubt be confusing to consumers. But it’s rare to be able to know the original of a gem without trusting the supply chain, which can be unreliable.

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8.41-carat internally flawless pink diamond

The jewelry auction market continues to show strength as gems sparkled during sales in Hong Kong and New York.

Sotheby’s Hong Kong said a world auction record was set for a fancy vivid pink diamond when an 8.41-carat internally flawless pink diamond sold for nearly $17.8 million at its Magnificent Jewels sale on October 7. The internally flawless fancy vivid purple-pink gem is a type IIa diamond, among the most chemically pure with exceptional optical transparency.

According to Sotheby’s, the previous world auction record for a fancy vivid pink diamond and record price per carat for a pink diamond were both achieved by a 5-carat pink diamond that sold for more than $10.7 million, or $2.15 million per carat, in Hong Kong in November 2009.

Per-carat price records were also set for a Cartier Kashmir sapphire ring that sold for $193,975 per carat and for a sapphire and diamond ring that sold for $236,404 per carat.

At Bonhams New York Fine Jewelry auction held October 8, a triple stand natural pearl, gem and diamond necklace (pictured above) fetched $185,000, over three times its high estimate. The piece is completed by a triple pavé diamond flowerhead clasp, enhanced by rubies, emeralds, and sapphires; centered by old European-cut diamonds and a fancy-cut emerald.

The top lot of the evening was a 14.51-carat round brilliant-cut diamond, flanked by tapered baguette-cut diamonds.

In addition, a ruby and diamond bracelet designed as a graduated band of oval-cut ruby cluster links, enhanced by round brilliant-cut diamond borders, sold for $161,000; and a ruby and diamond pendant/brooch and necklace signed by M. Gerard where the largest ruby weighed 8 carats, achieved $106,250, soaring past its high estimate of $70,000.

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Sapphire and diamond necklace

Clouds and flowers in the world’s most famous gardens provided the inspiration for the the Nuage collection, the latest line by Graff Diamonds available to the public after its unveiling at the recently concluded La Biennale des Antiquaires.

Ruby and diamond necklace

Anne-Eva Geffroy, Graff’s design director, used organic forms; geometric patterns; and a color palette dominates by red, white and blue to create the first six pieces released in the collection. The inspiration is based on her travels to the world’s most famous gardens, including the Ginkaku-ji a Zen temple in Kyoto, the Majorelle Garden in Marrakech, the Kew Gardens in London and the gardens of Claude Monet in France.

Ruby and diamond bracelet

Nuage is French for cloud and the geometric forms replicate the swirling of these heavenly bodies. For example, a sapphire and diamond necklace uses swirling pavé diamonds in the shapes of clouds that embrace brilliant cut sapphires spouting out of platinum and diamonds like flowers in bloom. The necklace is accompanied by a matching bracelet.

Sapphire and diamond bracelet

The motif of clouds and flowers are played out throughout the remainder of the collection, which includes a matching earrings, bracelet and necklace set with the same swirling diamond pavé over platinum. In this case the flowers are more pronounced in both the swirling formations and in use of rubies to create flower figures within the clouds.

Ruby and diamond bracelet

Finally, among the items released by Graff, is a platinum and white diamond bracelet using the same motif.

This is classic jewelry in the Graff tradition where high-quality diamonds and gems take center stage and the designs showcase the gems.

Diamond Nuage bracelet.

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Harry Winston, Inc. and the UCLA Children’s Discovery and Innovation Institute have named the first three recipients of the inaugural Harry Winston Fellowships.

You may remember that the luxury jewelry and watch brand presented a $1 million gift to establish the fellowship that supports the work of young pediatric physician-scientists from Mattel Children’ s Hospital UCLA who are conducting research to prevent, treat and cure disease and illness in children.

“Through the Harry Winston Fellowship Fund, we are … supporting these young physician-scientists whose vital contributions to pediatric research will help to enable healthy and brilliant futures for children around the world,” said Nayla Hayek, Harry Winston CEO.

The Harry Winston Fellows represent physician-scientists in their second or third year of fellowship at UCLA (a period of specialized training following a doctor’s residency) who have demonstrated a commitment to a career in academic medicine. The fellows, who have all shown unparalleled excellence in clinical and research skills, are also extremely bright, exceptionally hardworking and driven by a desire to make a significant difference in their field.

Harry Winston Fellows will be chosen annually by an internal selection committee led by Dr. Sherin Devaskar, physician-in-chief of Mattel Children’s Hospital UCLA and executive director of the UCLA Children’s Discovery and Innovation Institute.

“The Harry Winston Fellowship Fund will support the best and brightest subspecialty fellows toward becoming exceptional academic physician-scientists who will go on to collaborate and establish networks locally, nationally and globally,” Devaskar said.

The recipients will be formally announced at a reception held on Oct. 9 in Los Angeles.

The 2014 – 2015 Harry Winston Fellows are:

Dr. Kristina Adachi, a third-year fellow in the division of pediatric infectious diseases. Adachi’s work focuses on untreated sexually transmitted infections (STIs) during pregnancy and the deleterious impact of these infections on infants' health.

Dr. Leslie Kimura, a second year fellow in the division of pediatric endocrinology. The incidence of diabetes, particularly type 2, is on the rise, but drugs to treat it have not focused on the largest tissue utilizer of glucose—skeletal muscle.

Dr. Edward Talya, a second year fellow in the division of pediatric gastroenterology, hepatology and nutrition. His research focuses on patients with short bowel syndrome, which is a disease where the patient is missing enough of the small intestine that they cannot get the nutrition they need from eating.

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Mike Barnes

Signet Jewelers Ltd. said Tuesday that Michael Barnes will resign from his position as chief executive officer and from Signet's board of directors, effective October 31, in order to be closer to his family in Dallas.

Mark Light, Signet's president and chief operating officer, has been named to succeed Barnes as CEO and take a seat on the board.

Signet said it is also reaffirming its financial guidance initiated in its second quarter earnings release on August 28.

Barnes joined Signet in December 2010 and became its CEO in January 2011, replacing Terry Burman, the company’s longtime CEO. Most recently he oversaw the $1.46 billion acquisition of Dallas-based Zale Corp., its largest US competitor, in May, making Signet the largest specialty jewelry retailer in the US, UK and Canada with approximately 3,500 retail outlets.

“Mike has been the leader of the Signet executive management team during a period of outstanding transformation and growth,” said Todd Stitzer, Signet chairman. “Since he joined Signet in 2010, Mike has been an instrumental part of Signet's success. He has played a critical role in Signet's recent acquisition of Zale Corp. and its continuing integration. He has also led the development of Signet's Vision 2020 Initiative for the future. We understand and respect his personal desire to relocate nearer to his family and pursue opportunities closer to his home in Dallas at this time.”

Signet is based in Bermuda and is listed on the NYSE. Its US subsidiary, Sterling Jewelers, with more than 1,400 stores in 50 states, is headquartered in Akron, Ohio. The company, in an SEC filing Tuesday, said it will pay Barnes accrued but unpaid benefits or obligations, his base salary for 12 additional months and an annual bonus at the end of the fiscal year.

Light has been with Signet for more than 30 years, with primary responsibility for the Sterling division, by far Sterling’s largest division, until the Zale Corp. acquisition.

“We are delighted to announce Mark’s promotion to chief executive officer of Signet,” Stitzer said. “Mark is an experienced, strategic leader who has been deeply involved in the company's Vision 2020 Strategy, the Zale acquisition and its ongoing integration. In addition he has a meticulous approach to operational details, and has been the main architect of our Sterling division's consistently profitable growth and has played a key role in defining and executing Signet's growth strategy. He has also been an advisor to our UK Managing Director since 2013 and became formally responsible for that business in mid-2014.”

Signet's Sterling division operates primarily under the brands of Kay Jewelers and Jared The Galleria Of Jewelry. Signet's UK division operates approximately 500 stores primarily under the name brands of H.Samuel and Ernest Jones. Signet's Zale division operates more than 1,600 locations in the US and Canada primarily under the name brands of Zales, People's, and Piercing Pagoda. The company also has online operations at www.kay.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.zales.com, and www.peoplesjewellers.com.

The Laurel Tiara was commissioned for Betsey Whitney and worn during the ceremony marking the appointment of her husband, John Hay Whitney, as UK Ambassador.

It’s rare that a retailer and jewelry design firm can put together a museum-quality exhibition as encompassing as the “The Power of Style: Verdura at 75.”

Original Coco Chanel Maltese Cross Cuffs

The showcase not only celebrates the 75th anniversary of the Verdura brand, but more importantly it serves as a retrospective of the brand’s founder and namesake, Fulco di Verdura, whose work spanned five decades. The exhibition contains 216 pieces of Verdura jewelry in a museum quality space adjacent to the company’s Fifth Avenue flagship location.

In the foreground is a bracelet worn by Greta Garbo on screen and in the background is a look at the Fulcon di Verdura and Coco Chanel photograph with the Maltese Cross cuff.

“It started out being 150 pieces but as word got out that we were going to do a museum quality exhibition, people got excited about it and started opening their jewel boxes,” said Ward Landrigan, who purchased Verdura in 1985. “For people who wear this jewelry a lot, it’s a long time to be without it.”

Jewelry and photographs of famous women wearing verdura pieces, including Babe Paley, described as Verdura's muse, in the background.

The exhibition opened to the public Tuesday and will run till December 23 at 745 Fifth Avenue, 12th floor. Reservations can be made by following this link.

A portion of the exhibition space is dedicated to ledgers that recorded sales and jewelry drawings by Fulco di Verdura.

Even though the business is a retailer and a creator of jewelry based on Verdura’s original designs, the company managed to put together a proper representation of the designer, his work and a glimpse into the man, known for his well-connected friends and for being the life of the party. At least part of the reason had to be because the exhibition was curated by international fashion designer, Carolina Herrera, and her husband Reinaldo, who were personal friends of Verdura.

Bejeweled elephant

The items are arranged either by period, theme or style in large wall cases, where the jewelry appears to be floating, or in standalone cases for special pieces, such as the Chanel bracelets or the Whitney tiara. It is a well lit space from the inside and outside light colored walls and well-placed partitions give the space breadth and depth.

Snail brooches

“First we get all this jewelry and then you try to make sense of what relates to what and how,” Landrigan says. “Luckily, because he did so many things that were of interest, we didn’t have any trouble with that.”

Kunzite Wing Brooch

Along with the pieces are jewelry sketches, photographs of Verdura, who died in 1978, miniature paintings by Verdura, and photographs of the many celebrities, aristocrats, politicians and business people (men and women) who wore his jewelry or collected his art objects. All of the business transactions, no matter how noteworthy the client, were recorded on ledgers. One ledger and photographs of others are on display, revealing some of the famous clientele.

Tea Rose brooch

All of the pieces have either been loaned to the exhibition by the owners or their estates or are part of Landrigan's personal collection. He stresses that none of the items are for sale. Those who donated their pieces include Brooke Shields, Sofia Coppola, Whoopi Goldberg and philanthropist Mercedes Bass.

Fulco di Verdura and Coco Chanel. Verdura designed the Maltese Cross Cuff for Coco Chanel, which became an iconic fashion symblol for Coco, for Chanel and for Verdura.

One of the standouts is the Chanel Maltese Cross Cuffs worn by Verdura’s personal friend and collaborator, Coco Chanel. These became her signature cuffs and were recreated as costume jewelry and sold by Chanel. Landrigan explains that people assumed Verdura made costume jewelry but he didn’t. He made jewelry for Coco Chanel who had them re-made as costume pieces.

Greta Garbo wears Verdura gold bracelet in 1941 photograph by Clarence Sinclair Bull

Other pieces of note are a yellow gold bracelet worn by Greta Garbo on screen (one of many Verdura pieces worn in movies) and the Laurel tiara, commissioned for Betsey Whitney and worn for the occasion of her husband, John Hay Whitney, being appointed as UK Ambassador.

Blue Diamond Ring

One of the things about Verdura’s work is that he was a true bespoke jeweler, making one-of-a-kind pieces based on the personal preference of a client or a specific occasion. Just about every piece of jewelry and object on display has a unique story. There are many more examples of Fulco di Verdura’s creativity and imagination and many more stories in the exhibition.

Verdura owner Ward Landrigan in the reflection of a display case that represents five decades of jewelry created by Fulco di Verdura. Behind Landrigan is a photograph of Verdura. Photo credit: Anthony DeMarco

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Smoky quartz is the main stone for the Fleur de Chine ring with black diamond pave center mounted on 925 sterling silver and lucky Chinese coin gallery on the back.

Every year that I go to Hong Kong to attend the September Hong Kong Jewellery & Gem Fair I discover something new. Last year, I attended a press conference at the Portuguese Heritage Club in the city’s Central district hosted by Qeelin, a luxury jewelry brand purchased by French luxury holding company, Kering. Afterward, I interviewed Dennis Chan, the creative director and co-founder of the brand.

Taylor and Fleur de Chine Cuff uses gold plated textured 925 sterling with amethyst and pink tourmaline.

This year I found myself at the Gray Café Deluxe, on the 49th floor of the Upper House hotel, one of the city’s finest, with a spectacular view of the Kowloon skyline as it turned from day to night. This is where I met with Mayuri Vara, the founder of the new jewelry brand Vara of London, where she showed me her first jewelry collections over well-made martinis.

Bamboo Leaves ring uses chrome diopside for the leaves and 925 sterling silver.

Articulate and soft-spoken, the self-taught jewelry designer explains that the collections reflect her diverse heritage, experiences and personal influences. She is of Indian descent, raised in London and was on course to follow her father and brother’s footsteps in the medical profession before she veered off into more creative ambitions.

The upper part of the Diva drop earrings extend up the earlobe set with amethyst with with pink tourmaline. Lower hoop set with diamonds and amethyst center drop stone.

“I have always been fascinated by art and design, and designing jewelry has been a passion of mine,” she says, “having always made handmade jewelry as far back as I can remember.”

She has lived in Hong Kong for the past five years with her husband who is a lawyer. Her outside influences are equally diverse and include Elizabeth Taylor, Anna May Wong, the first Chinese-American movie star and a fashion icon, and Maharani Gayatri Devi, the last queen of Jaipur.

925 sterling silver is used for the Serpentine open bangle with smoky quartz and black diamond surround.

“I draw inspiration from the Chinese culture, artworks and architecture,” she adds.

For someone with such a diverse background her first offerings are focused and for the most part classic and elegant. It’s a well thought out mix of products where individual pieces match but in a variety of ways so it doesn’t look like a formal suite. Most of the pieces are large and bold enough so they can be worn alone. They also are designed to be worn daily.

The left side of Le Boteh open ring is set with smoky quartz with a black diamond centre; and the right side set with amethyst and pink tourmaline.

Nearly all of the pieces are made of 925 sterling silver plated with either gold, black rhodium, or white rhodium. She says her next line will be in 18k gold. She is particularly proud that the quality of craftsmanship, done in China, can be seen on both sides of the pieces. “I’m fortunate to find the right people who understand my flow,” she says.

The Cleopatra Noir ring features smoky quartz surrounded by two snakes and black diamond pave on head and tail with red garnet eyes. Black spinel surrounds body of the ring.

The black rhodium finishes add an edge to the classic styles. She also provides contrasts by using classic Lotus flower and paisley shapes with pieces that feature serpents. She is fond of colored gems, with smoky quartz, amethyst, citrine, peridot and tourmaline among her favorites. A few pieces have a sprinkling of diamonds.

The collections were launched in June during the Jewellery & Watch event at London’s Saatchi Gallery and are also available at the Quintessentially Gifts in London.

Noor drop earrings uses 925 sterling silver set with Rose de France amethyst stones. The upper part is set with white topaz surrounding a single amethyst stone.

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The top lot at Christie’s Important Jewels auction held Wednesday was a 101.36-carat, cushion-cut, L-color, VS2 diamond that sold for $4.98 million, or $49,100 per carat. The diamond, worn as a necklace, is suspended by a black silk cord with pavé-set diamonds mounted in platinum (pictured above).

In a slight turn of events, seven of the top 10 lots from the sale were colorless diamonds with five of the items selling for more than $1 million (including commission and fees). In recent years, fancy colored diamonds have been stealing the spotlight, achieving record-breaking sales.

Other top lots in the sale included the following:

* A diamond necklace featuring a detachable pendant K-color faint brown VVS1 Potentially Internally Flawless diamond pendant weighing 81.38 carats that sold for $3.19 million. Two other detachable diamonds weigh 15.30 and 7.04 carats, spaced by circular-cut diamonds. The necklace is designed as a line of 17 circular-cut diamonds, the largest weighing 15.46 carats, spaced by rectangular and square-cut diamonds, mounted in 18k white gold (pictured above).

* A 23.89-carat rectangular-cut, H-color, Potentially Internally Flawless diamond mounted in platinum ring that sold for $1.56 million, or 65,500 per carat.

* A 16.07-carat rectangular-cut F-color, Potentially Internally Flawless diamond on a ring set within a circular-cut and pear-shaped diamond surround, to the pear-shaped diamond shoulders, mounted in platinum, with maker's mark that sold for $1.5 million, or $93,700 per carat.

* In addition to diamonds, a Ceylon sapphire and diamond of 63.65 carats on a ring, flanked on either side by a half-moon diamond, mounted in platinum by Tiffany & Co. sold for $587,000, smashing its high estimate of $150,000.

All totaled, the sale of 347 lots fetched $33.7 million, with 75 percent sold by lot and 77 percent sold by value.

“Fine quality colorless diamonds achieved strong prices with international bidding,” said Rahul Kadakia, International Head of Christie’s Jewelry. “Collectors also bid competitively for natural pearls and special jeweled objects such as the Art Deco fish bowl clock, by Black, Starr, and Frost, which realized $137,000 against a pre-sale estimate of $15,000.”

The 8.62-carat “Graff Ruby,” is the lead item in a collection of 16 jewels belonging to Dimitri Mavrommatis that is part of Sotheby’s Geneva November 12 Magnificent Jewels and Noble Jewels sale. The cushion-shaped Burmese stone is estimated to fetch 6.9 million to nearly 9.2 million.

The gem possesses the rare vivid red hue known as “pigeon’s blood,” according to a report from the Swiss Gemmological Institute, and is also of outstanding purity and superb brilliance.

Dimitri Mavrommatis began a lifelong interest in the fine and decorative arts in 1982 during trips to the Metropolitan Museum of Art. The 16 jewelry and gem pieces from his personal collection to be placed on auction at the Beau-Rivage Hotel is expected to bring in more than $17.6 million.

David Bennett, chairman of Sotheby’s Jewellery Division for Europe and the Middle East, said the collection “is a testament to Dimitri Mavrommatis’ discerning eye and impeccable taste.”

Another item of from the Mavrommatis collection is a 27.54-carat Kashmir sapphire (pictured above) to fetch $3 million to $6.1 million. The stone exhibits a saturated velvety blue color, combined with a very high purity, according to the auction house. “These features elevate Kashmir sapphires above all others and the appearance of such a fine example weighing over 20 carats is an extremely rare event.”

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Empress Eugenie's Feuilles De Groseillier brooch

The “Feuilles de Groseillier” brooch, commissioned in 1855 by Empress Eugenie of France (1826-1920) to French jeweler Alfred Bapst, is one of two statement lots of jewelry with royal provenance to be offered at Christie’s Geneva Magnificent Jewels sale on November 11. Once part of the French Crown Jewels, of which very few examples in original condition have survived, it has an estimate of $2 to $3 million.

The jewel is designed as a cluster of three gold and silver openworked currant leaves with three tassels. It is set throughout with old mine diamonds and is centered with a cushion-shaped mine diamond.

The Parure de Feuilles de Groseillier was originally designed as a guirlande (garland) and worn in multiple ways. In 1870, at the fall of the Second Empire, Empress Eugenie and her husband Napoleon III moved to England, leaving behind most of the Crown Jewels. Seventeen years later, the French government conducted a 12-day auction where all the belongings of the French Royal Family were offered for sale, including the jewelry. Several of the larger pieces were broken up prior to the auction so the stones could be sold individually. The guirlande was sold as eight parts and the present brooch was acquired by Tiffany & Co. The jeweler then gifted the brooch to the Metropolitan Opera of New York as a tribute to the famous opera singer Madame Lucrezia Bori (1887-1960).

Duchess Of Windsor's Cartier Tiger jewels

The other lot is of British royal provenance. They are two pieces of tiger jewelry by Cartier, formerly from the collection of the Duchess of Windsor. They were given to Sarah Brightman, the world’s best selling soprano, by her then husband Andrew Lloyd Webber, composer and impresario of musical theater. They were a present to her to celebrate the London and Broadway success of “The Phantom of the Opera,” which he wrote and she starred. They were purchased during the legendary sale of Duchess of Windsor’s collection in 1987.

The two tiger pieces comprising of an onyx and diamond clip brooch and bracelet, with emerald eyes, were both made in the 1950s and will be sold as one lot with a combined estimate of $1.8 million to $2.5 million.

The Cartier Tiger Collection has been a highlight of 20th Century jewelry design since it first appeared in 1928. These pieces were bought by the Duke and Duchess of Windsor from Cartier between 1956 and 1959.

Brightman will offer a portion of the proceeds from the sale to The Andrew Lloyd Webber Foundation, which supports the arts, music in schools, The Architectural Heritage Fund and awards 30 performing arts scholarships annually.

Bulgari diamond ear pendant

While the two items of monarchial heritage are impressive, the top lot for the upcoming sale at the Four Seasons Hotel des Bergues goes to a sparkling pair of Bulgari pear-shaped colored diamond ear-pendants with a pre-sale estimate of $12 million to $15 million.

The ear pendants, which the auction house is calling “A Bulgari Masterpiece,” have marquise and pear-shaped diamond cluster tops weighing approximately 19.28 carats. Suspended from the clusters are a 6.95-carat, pear-shaped fancy vivid blue diamond and a 6.79-carat, pear-shaped fancy vivid pink diamond. Both statement diamonds are detachable. The diamonds are mounted in platinum and gold.

This auction of 390 lots has several other significant colored gems, signature jewels and important natural pearls. Among them are:

The "Blue Belle of Asia"

* The fourth largest faceted sapphire in the world, the “Blue Belle of Asia,” a cushion shaped Ceylon sapphire of 392.52 carats. It has an estimate of $7 to $10 million. The gem was discovered in 1926 at Pelmadula, Ratnapura (‘The City of Gems’), in Ceylon and was sold to British motor magnate Lord Nuffield (1877-1963), founder of Morris Motors Limited in 1937, according to the auction house. It was rumored that he purchased the sapphire to present to Queen Elizabeth the Queen Mother, on her Coronation Day on May 12, 1937. The gem is suspended on a diamond tassel pendant and attached to a diamond neckchain mounted in gold.

* A 23.66-carat Burmese ruby mounted by Cartier, known as “The Queen of Burma,” was purchased at Cartier in London on November 1937 by the Maharao of Cutch (1866-1942). Its estimate is $5.5 - $7 million. The auction house says the gem “combines all the most sought-after qualities in a ruby: an attractive vivid pinkish red color, an excellent purity, an impressive size and the finest origin.”

* Seven jewels by JAR, some of which were recently on display at the ‘Jewels by JAR’ exhibition at the Metropolitan Museum of Art in New York. Among the group of jewels offered for sale are the ‘Gardenia’ ring, formerly in The Collection of Ellen Barkin ($330,000 - $390,000), the sculpted gold Parrot Tulip cuff ($210,000 - $310,000) and a pair of diamond ‘String’ ear pendants ($140,000 - $200,000).

Art Deco diamond and pearl necklace

* Formerly in the collection of Baroness Edouard de Rothschild, an Art Deco diamond necklace, suspended with two natural pearls, measuring 16mm each ($700,000 - $1 million).

Harry Winston diamond ear pendants.

* Diamond ear pendants by Harry Winston with two drop-shaped natural pearls weighing more than 100 grains each ($2.8 - $3.5 million).

* A two-strand natural pearl necklace with rose overtones by Cartier ($530,000 - $850,000).

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Laura Stanley of Stanley Jewelers Gemologist, Little Rock, Ark., hosted Master Diamond Cutter Mike Botha of Embee Diamonds to teach consumers about the diamond cutting process. The event was televised on a local news station.

This is the first in a series of articles by Chris Benham, co-founder and director of Inspired Jewellery Ltd., Wellington, New Zealand, a global creative studio for specialist jewelry design.

The internet has had a hugely disruptive effect on the jewelry industry in recent years, as it has with most industries. Our rapidly shrinking world has led to an increase in transparency, access and an explosion of product choice. The side effect of this is that many traditional jewelry businesses throughout the value chain have seen their margins erode.

A lot of traditional "taker" businesses that, in the past, have had to accept the prices of their suppliers, and who have historically been able to set their own prices with little challenge from their end customers, now cannot. These taker businesses range from local diamond wholesalers to Mom-and-Pop jewelry retailers that have been around for generations. Customers can quickly jump on the internet to compare prices, so these businesses have had to find ways to survive by adding value to their end customers.

The companies that have thrived in recent years are the "makers" - the ones that have taken tradition and redefined it. There are many great examples of companies that have built brands that focus on design, craftsmanship, great personal service and trust. The byproduct of doing the tangibles well are the intangibles that form the basis of their innovation and ultimately the intellectual property that other companies struggle to understand or replicate.

Customer picking up his purchase at The Village Goldsmith, Wellington NZ.

The internet breeds monopolies and no more so than in the jewelry industry. The top tier diamond companies are becoming more and more dominant by the day, helped by natural economies of scale and their purchasing power. Much of the reason for this is that ‘Mom and Pop’ retailers from the US to New Zealand have the same access to diamond inventory lists as do the major online global jewelry retailers. Consumers are able to access diamond pricing information and descriptions instantaneously, make comparisons and choices at the touch of a button, and this has led to the erosion of traditional margins for retailers. Diamond companies’ margins are also getting tighter as they fight to remain competitive, ensuring that they need to innovate to stay relevant.

Why is this good for the end customer? Well, it forces companies throughout the whole value chain in the jewelry industry to genuinely look at clever ways to create better products and experiences for their customers.

A master jeweler at Inspired Jewellery sets a diamond on a ring.

Retailers big and small that continue to focus their efforts around the needs of their customers are seeing strong growth. In a recent report big retailers like Nordstrom attribute customer service as central to their strategy and recent growth. They are using different store types and brands to appeal to different customer profiles and age groups. They’ve recognized the need to connect with the younger generation as they will be tomorrow’s customer and are using an omni-channel strategy to support this. Burberry is another luxury brand that is going to great lengths to connect the retail store experience with the online experience.

Recent research conducted by Bain and Co. stated that when consumers were selecting which jewelry store to buy from in Western markets they valued quality service over all other factors.

A local US retailer that has recognized this is Stanley Jewelers Gemologist in Little Rock Arkansas. Vice President Laura Stanley recently hosted Master Diamond Cutter Mike Botha of Embee Diamonds (see top photo). The aim of the “Southern Stars: Meet the Cutter” tour was to teach consumers about the diamond cutting process so that they are able to make more informed decisions. Laura Stanley said that the theme of the event was to get to know your jeweler better. The event provided Stanley’s customers with an authentic experience of what goes into cutting a diamond - a craft that is not often showcased to consumers.

If “price makers” want to retain that position they must continually innovate and provide more intangibles for their customers to prove that the price they set is worth paying.

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With all the superlatives attached to it, it was a near certainty that The Henry Graves Supercomplication would go for a world record price at Sotheby’s Geneva sale of Important Watches held Tuesday. It already established the record when it sold for $11 million in 1999. It is also known as the most complicated hand-made watch and the most famous watch in the world.

But still the $24 million it achieved is something special. The auction house said five bidders competed for the timepiece for 15 minutes. It was finally sold to a buyer in the room, who requested anonymity, well above its $16.8 million estimate.

“This evening’s stellar result confirms the ‘rockstar’ status of The Henry Graves Supercomplication. It is more than a watch,” said Tim Bourne, Sotheby’s Worldwide Head of Watches, and Daryn Schnipper, Chairman of Sotheby’s Watch Division. “It is a masterpiece that transcends the boundaries of horology and has earned its place among the world’s greatest works of art. The fascination it has attracted over the past few months, as Patek Philippe celebrates its 175th anniversary, is a fitting tribute to the genius of the Swiss manufacturer.”

Commissioned in 1925 by Henry Graves, a prominent New York banker, and completed by Patek Philippe in 1932, The Henry Graves Supercomplication is the product of three years of research and five years of effort it resulted in a gold openface minute repeating chronograph clockwatch with Westminster chimes. Among its features are a perpetual calendar, moon phases, sidereal time, power reserve, and indications for time of sunset and sunrise and the night sky of New York City. With a total of 24 horological complications, The Graves watch retained the title of the world’s most complicated watch for 56 years and even then was only surpassed by technicians working with the aid of computer-assisted machines.

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Best of Show, Leon Mege - Platinum ring with a 4.71 ct. Paraiba tourmaline accented with French-cut diamonds.

The AGTA Spectrum Awards media day and winners announcement were held recently at its usual undisclosed New York location. I was unable to attend the event this year but that doesn’t mean you have to be neglected of at least seeing the top category winners.

Best Use of Color, Paula Crevoshay – 18k yellow gold "The Venus Bracelet" with freshwater baroque cultured Pearls (91.43 ctw.) accented with pink and green tourmalines (29.32 ctw.).

The Spectrum Awards are considered by many to be the most respected and prestigious creative awards for the jewelry design industry. Launched in 1984 by the American Gem Trade Association, it honors, recognizes and promotes designers whose work uses natural colored gemstones and cultured pearls in finished fine jewelry design. The international competition serves as the benchmark for jewelry designers striving to gain recognition for their work. In addition, it is one of things the jewelry industry establishes trends through the use of color and materials.

Best Use of Platinum and Color, Deirdre Featherstone - Platinum "Anemone" earrings with tanzanites (5.37 ctw.) accented with blue zircons (2.88 ctw.), purple sapphires (3.72 ctw.), tsavorite garnets (1.67 ctw.), indigo tourmalines (.40 ctw.), Paraiba tourmalines (.26 ctw.) and Diamonds (.16 ctw.).

Douglas K. Hucker, CEO of the AGTA, says the 500 or designers who participated in the competition stretched the boundaries in what can be achieved in jewelry design with colored gems and pearls.

Best Use of Pearls, Naomi Sarna – 18k rose gold necklace with white cultured pearls accented with pink diamonds.

“We were thrilled with the variety of entries at this year’s awards competition,” he said. “We saw a lot of use of striking and strong colors instead of pastels. There were asymmetrical pieces combining rounds with ovals and squares.”

Evening Wear Maria Canale, Suna Bros. Inc. - Platinum and 20k pink gold bracelet with multi-colored natural spinels (44.31 ctw.) accented with white diamonds (6.80 ctw.) and pink diamonds (1.00 ctw.).

Among the popular choice for colors were blue, and blue green; and the most popular gems used for the competition were tourmalines, sapphires and opals, he added. In addition, he noted that there was a three-fold increase to the entries to the men’s wear category.

Fashion Forward, Ion Ionescu – 18k yellow gold ring featuring a 36 ct. turquoise accented with a 9.2mm Tahitian silver cultured pearl, Paraiba tourmalines (.32 ctw.) and diamonds (.43 ctw.).

Judging from the top winners at the show, pearls and the extremely rare Paraiba tourmaline were used quite extensively.

Business/Day Wear, Jennifer Rabe Morin, Gregore Joailliers – 18k rose gold ring with carved turquoise (29.0 ctw.) accented with amethyst cabochons (14.0 ctw.).

This year's AGTA Spectrum Awards will be presented during the 2015 AGTA GemFair Tucson to be held February 3 - 8 (a trade only event) at the Tucson Convention Center in Tucson, Ariz., with the winning entries will be displayed during the show.

Men's Wear, Dawn Muscio – 18k red gold and stainless steel "Pink2" cufflinks featuring pillow cut Morganites (8.74 ctw.) accented with Rubies (.87 ctw.) and Diamonds (.60 ctw.).

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Blue Belle of Asia

A 392.52-carat cushion shaped Ceylon sapphire sold for nearly $17.3 million at Christie’s Geneva sale of Magnificent jewels Tuesday—a world record for any sapphire sold at auction. Known as the 'Blue Belle of Asia,' the gem shattered its high estimate of $10 million.

The gem, considered the world’s fourth largest faceted sapphire, was discovered in 1926 at Pelmadula, Ratnapura (‘The City of Gems’), in Ceylon and was sold to British motor magnate Lord Nuffield (1877-1963), according to the auction house. It was rumored that he purchased the sapphire to present it to Queen Elizabeth the Queen Mother, on her Coronation Day. The gem is suspended on a diamond tassel pendant and attached to a diamond neckchain mounted in gold.

It was one of several big ticket items at the auction, which achieved more than $150.2 million, with 89 percent sold by lot and 94 percent sold by value. Christie’s said it was “the highest total for any Magnificent Jewels sale in the world.”

Fancy colored diamond ear pendants

World renowned diamond jeweler, Laurence Graff, acquired a pair of ear pendants, featuring a 6.95-carat, pear-shaped fancy vivid blue diamond, and a 6.79-carat, pear-shaped fancy vivid pink diamond, for more than $15.8 million. Previously known as “A Bulgari Masterpiece,” the fancy colored diamonds are topped with marquise and pear-shaped diamond clusters weighing approximately 19.28 carats. The high estimate for the item was $15 million.

Empress Eugenie’s Feuilles De Groseillier Brooch

One of the more anticipated lots was the “Feuilles de Groseillier” brooch, commissioned in 1855 by Empress Eugenie of France (1826-1920) to French jeweler Alfred Bapst. It was part of the French Crown Jewels. It sold for more than $2.3 million, within its estimate of $2 to $3 million.

Christie’s said more than 600 persons from 30 countries registered for the auction.

Other notable sales included the JAR “Parrot Tulip” bangle bracelet that realized more than $3.5 million, nearly ten times its estimate and the second highest price for a creation by JAR; and an Art Deco natural pearl and diamond necklace from the private collection of the Baroness Edouard de Rothschild that sold for nearly $5.2 million.

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Global gold jewelry demand fell 4 percent year-over-year to 534.2 tons for the third quarter of 2014, according to the World Gold Council in its Gold Demand trend report released Thursday. However, the decline comes against an unusually robust third quarter of 2013, which experienced the strongest growth for jewelry demand since 2008.

“Longer term analysis shows a market in good health. Q3 demand was marginally stronger than the five-year quarterly average of 527.6 tons, while year-to-date volumes continue to extend the broad uptrend from the low seen in 2009,” the WGC said in its report.

Two markets did shine, the US, with a 4 percent rise that helped lift manufacturing outputs in several gold jewelry producing companies; and India, which surged 60 percent. China and Hong Kong, meanwhile, experienced steep declines in gold jewelry demand.

US ‘Revival’
The WGC’s report said the economic recovery and a downward trend in the price of gold created a “revival” of gold jewelry demand in the US that has had a “ripple effect” around the world.

“The US sucked in greater volumes of gold jewelry imports from markets as diverse as India, China, Italy, Mexico and Oman, according to the report. “Third quarter growth in the US market was very much an extension of the trend that has prevailed since early last year. Mounting conviction in the economic recovery has boosted sentiment and whetted consumers’ appetite for discretionary purchases. Gold jewelry has been a clear beneficiary: improving sales of higher carat and non-wedding related items helped demand to the highest Q3 total since 2009.”

The report added, “Lower gold prices have aided the recovery of US demand as retailers are more easily able to meet key price points without crimping margins. Or, similarly, to increase karatage while maintaining price levels. This has enticed some mass- market retailers back into the gold jewelry sector.”

India
The market that had the strongest third quarter by far was India, which reported a 60 percent year-over-year increase to nearly 183 tons—the second highest third quarter on record, the WGC said.

“The third quarter of 2013 was decidedly weak as the introduction of complicated new measures to restrict gold imports and the subsequent sharp rise in local prices knocked demand,” the WGC said in its report. “But this quarter, other more positive forces were also at play.”

Among those forces is the confidence in the new Indian government led by Prime Minister Narendra Modi, a drop in the price of gold and robust buying during the Diwali festival season.

“Although Indian consumers are typically wary of buying gold while the price is still moving, preferring to wait until it settles at a more stable level, the opportunity to buy at cheaper prices proved, for some, hard to resist.”

China
Meanwhile, China experienced a 39 percent year-over-year decline to 147.1 tons in gold jewelry demand. Hong Kong (where consumers from the mainland China account for most of the demand) fell 31 percent to 9 tons. The WGC said much of this decline is in comparison to the rapid expansion throughout 2013 and that gold jewelry sales are normalizing.

“18-karat (K-gold) jewelry was relatively more robust than the 24-karat (chuk kam) segment,” the WGC said. “The government’s anti-corruption drive may have contributed to this trend.”

Other Markets:
* Indonesia saw third quarter demand fall 16 percent to 9.7 tons partially in response to strength of demand last year. However, the WGC said “equally important was the Presidential election in July, which created a degree of political instability and discouraged spending on gold jewelry.”

* Third quarter jewelry demand in Turkey fell 18 percent, year-over-year, to 19.2 tons—the lowest third quarter on record, the WGC said. “Consumers were unnerved by domestic political turmoil; worrying economic signals; and escalating Syrian violence in close proximity to the Turkish border. The ban on paying for gold jewelry by credit card installments continued to hang over the market, although this restriction was partially repealed in October.”

* Demand in the Middle East fell 14 percent year-over-year to 36 tons. Demand for gold jewelry across the region suffered from the comparison with strong demand last year, the WGC said, leading to a trend towards lower-karat and gem-set jewelry.

* Jewelry demand in the UK increased 18 percent to 4.6 tons, the fifth consecutive year-over-year rise.

* Gold jewelry demand in Russia edged up 1 percent year-over-year to 18.6 tons, despite a rise in the average domestic gold price due to a weaker rouble, the WGC said.

* Demand in Italy fell 4 percent year-over-year to 2.7 tons.

The Gold Demand Trends report also tracks gold for investment and technology purposes. In the third quarter overall demand was “subdued,’ the WGC said, falling by 2 percent to 929.3 tons. The price was relatively stable for the period.

“Quarterly volatility in the US$ gold price was among the lowest levels seen over the past two decades,” WGC said. “This was both a cause and effect of the benign demand environment. Investor behavior in particular contributed to this circularity: the lack of a clear price signal caused investors to hold back from buying gold, which in turn dampened down price moves.”

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3.37-Carat Pinkish Purple Diamond On View at Hong Kong Jewelry Fair

Graff Honors Paris With Two Statement Jewels For La Biennale

JNA Awards Honors 20 Jewelry Industry Leaders in a Gala Event Attended by More Than 600 People

Unsettled Weather, Politics and Economies Lead to an Unusual Hong Kong Jewelry Fair

A Treasure of Jewelry at the Hong Kong Fair

Creativity and Originality in Polish Jewelry Design

Pink Diamond Sets Auction Record, Natural Pearls Remain in Demand

Clouds, Flowers and Beautiful Gems Inspire Graff’s Nuage Collection

3 UCLA Pediatric Physician-Scientists Named Harry Winston Fellows

Signet Jewelers CEO Mike Barnes Resigns; Replaced by Mark Light

'The Power of Style: Verdura at 75' Opens To The Public

‘Designing jewelry has been a passion of mine,’ Cocktails with JNN: Mayuri Vara of Vara of London

101-Carat Diamond Fetches $5 Million

‘Graff Ruby’ Leads Esteemed Jewelry Collection For Sale at Sotheby’s

Jewelry From Empress Eugenie and Duchess of Windsor Headlines Christie’s Geneva Sale

The internet's Impact on the ‘Makers’ and ‘Takers’ in the Global Jewelry Industry

Henry Graves Supercomplication Fetches $24 Million at Sotheby’s Geneva

The 2014 AGTA Spectrum Awards Winners

‘Blue Belle of Asia’ Sapphire Fetches World Auction Record $17.3 Million

Q3 Global Gold Jewelry Demand Down 4%, US Demand Up 4%; India Demand Surges 60%