Christie’s To Sell The De Grisogono 163-Carat D-Flawless Diamond

The De Grisogono diamond suspended from an asymmetric necklace with a trailing on the left side of 18 emerald-cut diamonds and to the right two rows of pear-shaped emeralds

Christie’s is selling the largest D-color flawless diamond to ever appear at auction, a 163.41-carat emerald-cut stone owned by the Geneva-based luxury jeweler, De Grisogono.

It will be a highlight of Christie’s Magnificent Jewels sale in Geneva to be held November 14 at the Four Seasons Hotel des Bergues. The diamond is currently on a world tour.

The diamond was cut from a 404-carat rough discovered in February 2016 in the Lulo mine in Angola. Given the name, “4 de Fevereiro,” it is the 27th biggest rough white diamond ever discovered and the largest in Angola. Fawaz Gruosi, founder of De Grisogono, purchased the rough diamond. He had it analyzed in Antwerp and cut in New York, where a team of 10 diamond-cutting specialists spent 11 months mapping, plotting, cleaving, laser-cutting and polishing the rough into the gem.

The De Grisogono 163.41-carat diamond, the largest D-color flawless diamond ever come at auction

The diamond is the centerpiece of an asymmetric necklace with a trailing on the left side of 18 emerald-cut diamonds and to the right two rows of pear-shaped emeralds, offering a contrasting appearance. No gold is visible between the emeralds as the gems are perfectly matched and the metal is darkened to create the chiaroscuro effect that is characteristic of De Grisogono jewels. The prongs holding in place the 163.41-carat diamond disappear under four baguette-cut diamonds creating an effect of dazzling brilliance. The reverse side of the gold basket is engraved with the diamond’s weight and set with more diamonds.

It took 14 craftsmen more than 1,700 hours to create the necklace.

Rahul Kadakia, international head of Christie’s Jewels said the “emerald and diamond necklace propels De Grisogono into a class of their own.”

The 404-carat rough diamond, "4 de Fevereiro," that created the 163.41-carat D-color flawless diamond that will be sold at Christie's

This diamond necklace marks the first jewel in a partnership between the auction house and the high jeweler in which they “will bring to auction the most exquisite diamonds ever offered to the market.”

The schedule for the worldwide tour is as follows:

Christie’s Hong Kong
September 28 – October 1
22nd Floor, Alexandra House, 18 Chater Road Central

Christie’s London
October 4 -7.
8, King Street, SW1Y 6QT London

Christie’s and De Grisogono in Dubai
October 17 - 19

Christie’s New York
November 3 - 6
Rockefeller Centre, 20 Rockefeller Plaza

Christie’s Geneva
November 9 - 14
Four Seasons Hotel des Bergues, Quai des Bergues 33 

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Last Chance To Register For The Portland Jewelry Symposium

The 2016 Portland Jewelry Symposium, networking prior to the keynote presentation

The Portland Jewelry Symposium is celebrating its 10th Anniversary and it isn’t looking back on its success. Instead, the forum’s theme this year is “Future Think: Innovate, Create, Thrive.” 

Teresa Frye, founder of the Portland Jewelry Symposium and owner and president of TechForm Advanced Casting Technology, has created the theme and planned the two-day program to discuss new technologies and artistic trends, and how to stay current in a rapidly changing industry. 

The symposium will be held October 1 and 2 at the Sentinel Hotel in downtown Portland, Ore. It is designed to benefit custom jewelers, designers and retailers. The registration deadline is here so please follow this link to register. 

Presentations will include the following: 

Peggy Jo Donahue, who assembled a panel discussion on “Promoting Custom Design on Social Networks,” which includes award winning designers Calla Gold and Lisa Krikawa.

Jennifer Caban from Olympus IMS will discuss using “XRF Technology to Identify Precious Metals” at the bench and in the retail environment.

Kevin Abernathy will speak about evolving “Trends in Digital Manufacturing.”

The symposium continues to take on social and environmental responsibility. This year, Monica Stephenson of ANZA Gems will speak on “Taking the First Step to a Responsible Future.”

This year symposium also includes a session on “Succession Planning and Exit Strategies” by Becka Johnson Kibby from The Edge Retail Academy.

Symposium registration includes the Keynote address and networking dinners. Lunch and refreshments during the full-day session on October 2. Additional tickets for dinner guests are also available for purchase.

To register, please visit the Portland Jewelry Symposium website.

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Laurence Graff Buys The Lesedi La Rona In Deal Of The Century

Graff Diamonds has acquired the 1,109-carat Lesedi La Rona rough diamond in a deal valued at $53 million. It is the world’s largest gem-quality rough diamond to be discovered in more than a century and the largest rough diamond in existence today.

It also may be one of Laurence Graff’s greatest deals in a long career of exceptional negotiations for some of the world’s most valuable and important diamonds. He may have shaved $17 million from its original asking price.

According to a statement from Graff Diamonds, this deal ended in a handshake with William Lamb, CEO, president and director of Canadian mining company Lucara Diamond Corp., which discovered the gem at its Karowe mine in Botswana in November 2015.

Lamb originally tried to sell the diamond in a standalone public auction at Sotheby’s London on June 2016, a very unusual way to sell a rough diamond, which is normally sold privately to dealers who then cut and polished the rough into a finished gem. It had an estimate of more than $70 million. However, it failed to meet its reserve price. The bidding stalled at $61 million.

In the end there are very few people in the world able to buy such a gem and even fewer with the ability to cut it. The top name on both lists is Graff.

“We are thrilled and honored to become the new custodians of this incredible diamond,” Laurence Graff said in a statement. “The stone will tell us its story, it will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties. This is a momentous day in my career, and I am privileged to be given the opportunity to honor the magnificent natural beauty of the Lesedi La Rona.”

The Lesedi La Rona was discovered at the Lucara Karowe mine in north-central Botswana. Its size is exceeded only by the legendary Cullinan Diamond, mined in South Africa in 1905. The 3,016.75-carat diamond produced nine major diamonds that are part of the historic Crown Jewels of the United Kingdom, including the Great Star of Africa—considered to be the largest top-quality polished diamond in existence, weighing 530.20 carats.

In addition to its size, the Gemological Institute of America reports that the Lesedi La Rona , which means “our light” in Botswana's Tswana language, possesses exceptional quality and transparency, according to Graff Diamonds statement.

The acquisition follows Graff’s purchase earlier this year of a 373-carat rough diamond that was originally part of the Lesedi La Rona rough, marking a reunion of the two stones.

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Alrosa Unearths 27-Carat Pink Diamond

Alrosa said Thursday that one of its subsidiaries unearthed a pink rough diamond weighing 27.85 carats. If the Russian mining giant decides to cut the stone, it has the potential to be the most expensive polished diamond in its history.

The rough diamond has dimensions of 22.47 mm x 15.69 mm x 10.9 mm, Alrosa said in statement Thursday. The pink stone is of gem-quality and almost free of inclusions.

The diamond was unearthed by Almazy Anabara, an Alrosa subsidiary with a diamond mining operation in Republic of Sakha (Yakutia) in northeast Russia. It is by far the largest pink diamond Alrosa ever mined—with the previous largest pink rough being 3.86 carats, found in 2012. Apart from this stone, for the past eight years, Alrosa recovered only 3 pink diamonds weighing more than 2 carats. Alrosa said its mining operations discover colored diamonds weighing more than 10 carats about once a year. 

Alrosa, a rough diamond mining operation, has been increasing investment in its polishing division. The company said it is deciding whether to sell it as a rough or to cut it and polish it themselves. 

“If the company decided to cut it, it would become the most expensive diamond in the entire history of Alrosa,” said Evgeny Agureev, head of United Selling Organization of Alrosa. 

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Roger Farah Named New Tiffany Chairman

Tiffany & Co. said Thursday that its company's board of directors has elected Roger Farah as its chairman, effective October 2. Farah, 64, joined Tiffany's Board in March 2017. He has served in leadership roles at Ralph Lauren Corporation, Venator Group, Inc., R.H. Macy & Co., Inc. and Federated Merchandising Services.

He most recently served leadership roles with Tory Burch. First as co-CEO and director of Tory Burch from September 2014 till March 2017 and then as executive director in advisory role since March when he joined Tiffany’s board

He will replace Michael J. Kowalski who has held multiple leadership roles for a number of years at Tiffany. He has been the board chairman since 2002 and has served on Tiffany’s board since 1995. He will remain on the board after the change.

In addition, Kowalski, who was Tiffany’s CEO from 1999 until his retirement in March 2015, and served as interim CEO since February 2017, will relinquish that title when the company's newly appointed CEO, Alessandro Bogliolo, joins the company in October.

“Roger has significant experience as a leader in the luxury retail industry, and I and my fellow directors value tremendously his expertise and insight which have been apparent during his time on the board,” Kowalski said in a statement. “With the appointment of Alessandro as our new CEO, and under Roger’s leadership on the board, I believe we are well positioned to execute on strategies to drive comparable store sales growth and stronger earnings growth in the longer-term.” 

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Tiffany’s New Metro Watch For Women

The Tiffany & Co. new Metro Watch combines the luxury retailer’s skill at using diamonds with traditional Swiss craftsmanship. Each piece features a round brilliant diamond crown that is assigned an individual serial number, making each watch personal to the wearer, the company says. In addition, for most models are topped with diamonds in various designs.

The company says the watch’s clean, fluid lines evoke the pace and energy of New York City, where Tiffany is headquartered. The 28mm curved stainless case comes in either stainless steel or 18k rose gold. The dials come in several styles, including an “ice blue,” a darker blue, burgundy, white or pink lacquer, all with flinqué finishes. Several models come with a 60 seconds subdial. The curved motif continues with the bracelets, which are available in alligator leather in a variety of colors and stainless steel. 

The watches are powered with either a Rhonda quartz movement or a Soprod automatic movement.

“Our horological history began in Geneva, Switzerland in 1847, and today we continue this tradition of craftsmanship by introducing the Tiffany Metro timepiece—its beauty lies in the superlative pedigree of Tiffany diamonds,” said Nicola Andreatta, vice president and general manager of Tiffany & Co. Swiss Watches. 

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Hermès Extends Apple Watch Partnership With New Leather Strap Collection

The same day Apple released its third version of the Apple Watch Hermès unveiled a collection of five leather straps for the newest smart watch.

The new Apple Watch Hermès collection for the Apple Watch Series 3 models expands upon the three leather straps that were first introduced in 2015. The new additions are the Single Tour Rallye and the Single Tour Éperon d’Or.

In addition, traditional French brand known for its old-world craftsmanship also released a new Hermès watch face, inspired by the Carrick Hermès watch, designed by Hermès legendary designer Henri d’Origny in 1993. This completes the selection of Hermès watch faces for Apple smart watches.

Apple Watch Hermès Series 3 consists of the following:

* The Single Tour Rallye – The perforated Gala calfskin is inspired by classic Hermès driving gloves. It’s designed to be paired with the 42mm stainless steel case.

* Single Tour Éperon d’Or in printed calfskin, inspired by the equestrian scarf pattern created by d’Origny in 1974. It is available in Marine leather with 38mm and 42mm stainless steel cases.

* Double Tour  - The extra-long band wraps twice around the wrist. Available in Fauve (natural tan) Barenia leather (Hermès top quality leather) and Indigo Swift leather, each paired with a 38mm stainless steel case.

* Single Tour - The buckle is inspired by the straps of a horse’s girth, a nod to the equestrian heritage of Hermès. Available in Fauve Barenia leather paired with 38mm and 42mm stainless steel cases, and in Indigo Swift leather for the 42mm stainless steel case.

* Single Tour Deployment Buckle - Available in Fauve Barenia leather and ebony Barenia leather, each paired with a 42mm stainless steel case.

Apple Watch Hermès Series 3 will be available to order online in France beginning Friday, with availability beginning September 22 in Australia, Canada, China, France, Germany, Japan, Switzerland, the UK and the US. Prices range from $1,149 to $1,399.

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William George Shuster, Aug. 23, 1946, - Aug. 30, 2017

People in the watch and jewelry industry knew Bill Shuster as someone who never accepted a gift from a watch brand. People who were closer to him knew him for his overwhelming generosity. 

What people are less likely to talk about was his passion, because it was such a part of his entire being. This makes his integrity as a professional journalist and his overall goodness sound less like a cliché and more like someone who is rare in this world. 

Bill and I worked together for nine years at JCK magazine and then kept in touch as he was passionate at keeping all former and current JCK employees in the loop with emails and phone calls and in his prayers. He was deeply religious. 

His integrity and dedication as a journalist could never be questioned. I worked with plenty of reporters who went to the proper schools and thought they were something special. They could never hold a candle to Bill. We worked in a cube farm so we could often hear one another and we were always amazed at how many ways Bill would ask a question until he was able to pry the proper answer out of the person. And he could do it in English, German and French—although he's insist that he wasn’t fluent in French—which is another trademark of Bill: His overwhelming modesty. But he did like to publicly acknowledge others. 

We occasionally shared the same flight to trade shows. Once leaving the airport together in Las Vegas I noticed he was carrying a small vintage American Airlines bag over his shoulder while pulling a large blue hard-shell suitcase. I was admiring his carry-on bag when he nonchalantly mentioned that it contained all his clothes (for a weeklong tradeshow) and the big blue suitcase was empty. It was dedicated for press kits. I have no doubt as he left Las Vegas that blue suitcase was bursting at the seams. I’m also sure he read all the materials and stored it somewhere in his house, which was overwhelmed with his research. I know this because his cubical in our King of Prussia office was packed to the brim with stuff. When our office moved to New York instead of tossing his books, magazines, files and whatever he collected, he took it all home. 

Yes he gave gifts and cards on special occasions. My wife, Maria, and I always looked forward to the authentic German strudel he would send by mail on Christmas. But what he was most generous with was his knowledge; and it was encyclopedic on just about any subject imaginable. He loved movies and art and literature and history and travel, and could spend hours passionately discussing the most obscure references on these topics. If I was working on a story and asked Bill a quick question about it, his answer would take 15 minutes discussing every aspect of the problem. Once I wanted quick help on how to phrase a question, and he shot back 30 different ways to approach it in a minute. Then we had another conversation that lasted for 15 minutes. 

We found ourselves seatmates on a flight to Frankfurt, Germany, a few years ago and we talked the entire time—no sleep and no regrets. 

He was proud of his German heritage and blamed his Scottish blood for being frugal and he was frugal. We would try to meet and have dinner each year at the Baselworld trade fair. We went through great pains to find a place that suited his budget in one of the most expensive countries in the world at one of the most expensive times. We finally found a cafeteria-type place about a mile from the fair. 

His frugality and his integrity as a journalist could be summed up in this story. He covered the luxury watch world and the only watch that he ever owned (to the best of my knowledge) was a Mickey Mouse watch. One time a CEO of a Swiss luxury brand offered to give him a proper timepiece, no strings attached. He refused. 

My favorite Bill Shuster story was the time he was attacked by a goose. It was almost tragic but it turned out to be costly, inconvenient and in the end, humorous. For reasons unknown a goose decided that the best place to have her nest was at the parking lot of our office building. To protect her eggs she would occasionally confront random cars in the parking lot as they were coming and going. Bill was well known as a speed demon. Leaving work he tore out of the parking space as he always did and before getting to the road the goose attacked his car. He was startled, veered off the road and rode up a curb and embankment. He damaged the front axle and underside of the car. He told the story while smiling the entire time.

Bill struggled with diabetes for as long as I’ve known him but he never complained. His illness in recent years was affecting his eyesight but still I don’t think anyone knew how sick he was and he was the kind of person who wouldn’t want anyone to worry about him. He lived with and was devoted to his mother who died just few years earlier in her nineties. 

Recently he critiqued a story I wrote suggesting that I may overstated a position. He then started translating Swiss newspapers, sending them to me, providing more information on the story as it was still unfolding. It was a lot of work on his part and he continued doing it even though I told him I couldn’t follow up on this. He said he liked doing it and wanted me to have it. 

Bill was a lot of things. He was a first-rate journalist. He was deeply religious. He was erudite. He was modest. He was persistent and insistent at times. He was eccentric. He loved to travel. He had great warmth and a sense of humor. He was a fast driver. He had health issues. He was much more complex than I could ever express. All of this was enhanced by his great passion for life. 

Most of all, he was generous. He gave more of himself to us than any of us ever gave to him. 

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