Queen Victoria’s Historically Significant Coronet Is Acquired By Victoria And Albert Museum

Queen Victoria's sapphire and diamond coronet, designed by Prince Albert, made by Joseph Kitching, London, 1840- 1842. Photo credit: Victoria and Albert Museum, London

The Victoria and Albert Museum (V&A) said Tuesday it has acquired Queen Victoria’s sapphire and diamond coronet. The historically significant small crown was designed by her husband, Prince Albert, in 1840, the royal couple’s wedding year. The jewel was gifted to the V&A by William Bollinger.

The coronet is scheduled to go on display in 2019, the bicentenary year of the birth of both Victoria and Albert, and will serve as the centerpiece of the museum’s renovated William and Judith Bollinger Jewellery Gallery, which tells the story of jewelry in Europe from the ancient world to the present day.

The design of the coronet was based on the Saxon Rautenkranz, or circlet of rue, which is set diagonally across the shield in Prince Albert’s coat of arms, museum officials said. It was made by Joseph Kitching, a partner at Kitching and Abud, who were appointed “Jewellers to the Queen” in 1837. In 1842, the coronet was featured in the first and most renowned portrait of the Queen painted by Franz Xaver Winterhalter. 

“The painting depicts Victoria as a figure of youth and beauty, regal, but free of the crown and scepter, the traditional emblems of monarchy,” the museum said. 

The image was shared throughout Europe and the British Empire in a series of replicas, copies and engravings.

The coronet also represents a symbol of enduring love. In 1866, on the first occasion when Victoria felt able to attend the state opening of Parliament following Albert’s death in 1861, she chose to wear the coronet instead of her crown, which was carried on a cushion.

“Representing both the passion of the young royal couple, and a powerful symbol of the widowed queen, it will be of deep fascination to visitors and scholars alike,” said Tristram Hunt, V&A director. “It will instantly become part of the identity of the museum itself.”

The day before their wedding on Feb. 10, 1840, Albert gifted Victoria a sapphire brooch. The couple then arranged Victoria’s collection of sapphires into a suite of jewels, of which the coronet became the centerpiece, according to the museum. The coronet was inherited by King Edward VII and then by King George V and Queen Mary, who gifted it to their daughter, Princess Mary, on her marriage to Viscount Lascelles in 1922. 

It was then sold into private hands, and in 2015 became the subject of an application to export it from the UK. This was later withdrawn. 

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Garrard Uses Its Heritage For Its Contemporary Jewels

1735 Marguerite sapphire and diamond cluster engagement ring, modeled after the ring first presented to princess Diana and now worn by Kate Middleton

The world’s oldest jeweler is working hard to appeal to younger consumers by using a formula that is fairly common among luxury brands. It is taking the essence of its heritage and applying it in the design of new, contemporary jewels at a more accessible price.

The House of Garrard, under the leadership of creative director Sara Prentice, is producing petite, understated jewels designed to be worn daily with storylines and details that reference the brand’s history, which the company traces back to 1735.

18k white gold stud earrings from the Enchanted Palace collection, the bejeweled bugs are set with a turquoise body, diamond pave wings and yellow gold legs. It sits on removable diamond-shape patterned bars, set with white round diamonds

Among its new releases is the “Enchanted Palace” collection, which takes its inspiration from the Great Exhibition of 1851, celebrating the advancements of the Victorian age in manufacturing and design. Garrard displayed nearly 100 pieces of jewelry, silverware and trophies at the exhibition, inspired by their commissions for Queen Victoria and Prince Albert. The jewels included turquoise, blue sapphires and diamonds among other precious stones and featured quirky designs such as ‘fly’ brooches enormously popular with the Queen and the Victorian people as a symbol of humility.

The jewels as well as the architectural design of the Palace itself (which included 300,000 glass windows) inspired The Enchanted Palace collection. The fly returns, reproduced in turquoise with delicate diamond encrusted wings. There are jewels designed to spin, revealing diamonds or sapphires with each twist. There are also rock crystal windows studded with diamonds and multi-wear pendants and earrings with removable tassels and drops.

18k white gold tassel earrings from the Enchanted Palace collection, set with a detachable rock crystal motif and sapphire tassels

The collection “celebrates the fun and quirky side of design, so embraced by the Victorians,” Prentice says. “Each piece has a beautiful simplicity to its design but is incredibly technical in its construction and in this way I think we have captured the spirit of the era perfectly.”

Today the company is housed in a magnificent four-story corner building designed and built for Garrard on Albemarle Street, just off Bond Street. It contains a workshop, a showroom on the first floor for its newest creations, and the records and artifacts of the company’s unique history. On my visit in March, I was taken to the Queen Mary room on the second floor. Named with the consent of Queen Mary in 1911, among other artifacts, contains images of five of the nine royal crowns created by Garrard. They are as follows:

* The Imperial State Crown of India;

* The matching Queen Consort’s crown for King George V and Queen Mary, with Queen Mary’s crown set with the fabled Koh-i-Noor diamond;

* Queen Elizabeth The Queen Mother’s consort’s crown and Imperial State Crown remodeled for George VI in 1937, with high arches. The entire crown was then remade again by Garrard for the coronation of Queen Elizabeth in 1953 with lowered arches for a Queen, and a smaller band to fit her head, but still using the same stones, which include the Black Prince’s Ruby and the Cullinan II diamond, sister of the enormous Cullinan I, which is set into the Sovereign’s Sceptre;

In addition, Garrard created a petite crown for Queen Victoria, who couldn’t bear the weight of a normal-sized crown.

While the jewelry house has made some of the most iconic crowns and tiaras in history, it’s most famous piece is the sapphire and diamond cluster engagement ring first owned by Princess Diana and now worn by Kate Middleton, upon her engagement to Diana’s son, Prince Harry. The luxury brand recreated many of the details of that ring with its 1735 Marguerite sapphire and diamond cluster engagement ring. The center stone also is available in ruby and emerald, to add variety and bring a personal take for the iconic ring. The 1735 Marguerite collection also includes matching earrings and pendants with an oval or cushion shaped center stone.

So while the formula for using heritage to create contemporary products isn’t a new strategy for luxury brands, Garrard just has so much more history to work with that it stands a better chance of success. 

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Inside Graff’s Workshop Where The Most Desired Jewels In The World Are Made

"The Fascination," a $40 million transformable watch with more than 152 carats of diamonds

Sometimes I get to do some pretty cool things. For instance on a sunny, warm March afternoon in London I entered the Graff Diamonds workshop where I was able to see how some of the most desired jewels in the world are made.

Below street level a well-lit room with white walls and a low ceiling was tightly packed with rows of bench jewelers working independently while machinery buzzed and hummed around them. About 70 craftsmen produce roughly 350 jewels per month, says Raymond Graff, director of the workshop and brother of the company’s founder, Laurence Graff. This includes the unique jewels made with some of the world’s most sought-after diamonds and colored gems.

The making of a diamond necklace in the Graff workshop

The jewels are based on designs created a floor above done with both hand drawings and via CAD, which Raymond Graff says provides better design details.

One of the things that separates Graff’s workshop from other high jewelers is that it uses modern manufacturing principles to produce a high number of luxury jewels while adhering to traditional high jewelry hand craftsmanship. The operation produces so many jewels that it contains a branch of the Goldsmiths’ Company Assay Office for the hallmarking of precious metals (a requirement in the U.K.). Precious metals come in raw forms and in various shapes, which are then refined by metalsmiths into the framework for the jewels. The diamonds and other gems are set by craftsmen that specialize in this work.

Diamond setting a flower brooch in the Graff workshop

One of Graff’s latest pieces that highlight the workshop's craftsmanship is the limited edition “Princess Butterfly Secret Watch,” which features white gold shaped into sensual curves and butterfly wings paved with diamonds and colored gems. The stones are mounted with the invisible set technique, where small grooves are cut in the underside of each diamond or gemstone allowing them to slide onto a grid hidden beneath the stones. To achieve a finish of pure color the stones must be color-matched, before being cut to fit tightly against one another as if made exactly for the delicate curvature of the butterfly wings.

The “secret” watch dial is revealed beneath the gem-paved wings by pressing on a round diamond, which allows the wings to slide apart.

Setting a large diamond on a ring

Graff is known for diamonds and all the diamonds used for Graff jewels (whether personally sourced by Laurence Graff or through the normal supply chain) go through the South African Diamond Corporation (SAFDICO), which is Graff’s diamond procurement and polishing division in Botswana. It is one of the largest such operations in Africa. This practice of vertical integration (sourcing the materials and making the jewels in-house) increases efficiency, enhances quality control and serves as another example of the luxury jewelry operation’s commitment to manufacturing principles.

The number of iconic statement diamonds purchased by Laurence Graff is legendary. In some cases he made a bold decision to re-cut the diamond. Recently, Graff unveiled “The Graff Venus.” At 118.78 carats, it is the world’s largest D-color, flawless heart-shaped diamond. Contributing to its rarity is that there is likely no other diamond manufacturer willing to cut such a large D-color, flawless diamond into such a challenging shape.

Enhancing the details of a sapphire bracelet

This shows the trust Laurence Graff has in its diamond cutters and polishers and the risks he’s willing to take to create such a gem. It’s the same trust that Laurence Graff shows throughout the operation and just one of the reasons for the success of Graff Diamonds.

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Gemfields Biggest Shareholder Makes Unsolicited Offer For Remaining Shares

Emerald and diamond necklace by Carolina Bucci using Gemfields Zambian emeralds 

Private equity company, Pallinghurst Resources, has made an unsolicited offer for the 53% of shares in Gemfields it does not already own. 

Pallinghurst, based in South Africa, specializes in investments in the mining sector. It is offering approximately $150 million in its shares for the remaining stake in Gemfields, a London-based colored gemstone mining and marketing company, making it a core component of Pallinghurst’s value. 

Pallinghurst’s offer doesn’t provide any added value to Gemfields, which it values at approximately $295 million.

Gemfields Board, in a statement to shareholders, “strongly advises … to take no action at this time.” However, Gemfields shareholders owning 28% of the company had already agreed to the offer, Pallinghurst says, giving it 75 percent backing and making the offer unconditional. 

Gemfields in its current form was created in 2008 when Pallinghurst and its co-investors contributed the Kagem emerald mine to Gemfields, its core operating asset, for shares. This transaction made Pallinghurst and its co-investors the majority shareholders of Gemfields. In 2013, Pallinghurst added the luxury brand, Fabergé, to Gemfields holdings, increasing Pallinghurst group’s direct ownership in Gemfields to the current level of 47.09%.

The strategy from the beginning was for Gemfields to become the “De Beers of the Colored Gemstone Industry” by creating a mine-to-market strategy for its responsibly sourced gems that could be traced throughout the supply chain and communicated to the industry and consumers. Part of this communication involves creating a grading system for determining emerald quality. 

Pallinghurst contends that Gemfields is “an attractive and unique business” but in its current structure is constrained by limited access to equity and debt capital, low share liquidity and high costs.

“Pallinghurst believes that, since its investment, the performance of the Gemfields share price has been disappointing and despite the major positive developments, Gemfields’ shareholders, including Pallinghurst, have not benefited appropriately,” Pallinghurst said in a statement. “The share price of Gemfields has not increased over the last decade.” 

Gemfields key holdings are: 

* 75% of the Kagem emerald mine in Zambia; 
* 75% of the Montepuez ruby mine in Mozambique; 
* 50% of the Kariba amethyst mine in Zambia; and 
* 100% of Fabergé Limited. 

Once gaining full control of Gemfields, Pallinghurst will delist Gemfields from the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange for smaller, less-viable companies, and take it private, at least for the time being. Pallinghurst is listed on the Johannesburg Stock Exchange (JSE) and the Bermuda Stock Exchange (BSX) and it said it would consider listing Gemfields on the LSE.

Pallinghurst, in order to create profitability for Gemfields, said it would do the following: 

* Focus on Gemfields’ core emerald and ruby operations in Zambia and Mozambique, respectively, and develop these to optimal scale;
* Accelerate the development of its existing portfolio of projects to mitigate the dependency on its attractive, but cyclical assets;
* Explore strategic alternatives for Fabergé, where significant growth capital is still required to reach its full potential; and
* Pursue cost reductions across the enlarged group.

Gemfields sells its rough gems through international auctions, which Pallinghurst says has “brought a level of professionalism and transparency previously not seen in the industry.” With its proprietary grading system for gems, Gemfields developed three auction classes, one offering higher quality gemstones, one for the larger volume of lower quality gemstones and the last offering mixed quality gemstones.

Pallinghurst said acquiring all of Gemfields would allow it to collapse its investment structure and simplify its management arrangements.

“The result will be a renewed Pallinghurst with a simplified operating model and an in-house management team,” Pallinghurst said in a statement. “The value of the underlying assets will be more clearly demonstrable with clearer earnings and operating metrics that can be benchmarked against industry peers. The revised structure model will allow Pallinghurst to rationalize costs across the group by simplifying the group's structures.”

The statement continued, “Post completion … Pallinghurst expects to have an enlarged market capitalization, improved trading liquidity and equity broker coverage. The board of directors of Pallinghurst believes that the combination of these factors should be value accretive for all shareholders.” 

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The Only Place To Buy Jessica McCormack Luxury Jewels Is In A Magnificent London Townhouse, But That May Soon Change

The Jessica McCormack Townhouse Boutique

In less than 10 years, Jessica McCormack has earned an international reputation for her antique-inspired contemporary jewels. Sharing this attention is the 19th Century townhouse in Mayfair that her company calls home. It operates as the headquarters, workshop, showroom and boutique. After my first visit in March to the five-story red-brick building on 7 Carlos Place, I must say it’s quite impressive. 

The interior, designed by London architects, Powell Tuck Associated, contains high ceilings, plenty of light through bay-style windows, aged wooden floors, fireplaces, and a well-manicured and inviting backyard patio. Throughout the first two stories (the public area) are antique furnishings and chandeliers, contemporary sculptures and paintings. One room has a wall-length, floor-to-ceiling bookcase and a player piano filling the space with music. 

The Library

The “grand” townhouse is the only place in the world where one can purchase Jessica McCormack jewels. More importantly, it serves as the perfect showplace for McCormack’s aesthetic. The New Zealand native grew up around antiques at her father’s auction business in Christ Church. She served a one-year internship at Sotheby’s jewelry department in London where she grew an appreciation and love of baubles. Her style reflects both her foundation in antiques—particularly in Art Deco and Georgian and Victorian periods—and the edginess and casual nature of contemporary culture.

The jewelry gallery

The art and antiques are primarily from one of McCormack’s partners, Michael Rosenfeld, a diamantaire and art collector who sources diamonds and gems for her designs. Her other partner is Rachel Slack, a businesswoman and a member of the Oppenheimer family, which until recently was the owner of De Beers. So McCormack is well financed.

What about the jewelry?

McCormack’s collections (which includes Tattoo, Jewels of the Urban Night, Messenger of the Gods and Perfect Storm) are well defined with specific personal stories and signature motifs. For example, the Urban Night collection is inspired by the jagged edges and geometric features of the architecture of the New York skyline. The Art Deco motifs are created through channel-set diamonds in geometric lines and grids. 

The Ruby New York Ring from the Urban Night collection

Meanwhile, the Tattoo collection is inspired by The Maori people of McCormack’s New Zealand home country. The jewels are based on their facial tattoos that tell individual stories of family lineage and social status within their tribe. Books about the Maori culture and artifacts she has collected over the years are included among the eclectic collection of contemporary art and antiques in the house.

The Tattoo Ring

While diamonds is McCormack’s preferred stone, she isn’t afraid to add color. This is most evident in the Party Jacket collection. In this versatile group, McCormack will often take a client’s existing ring—such as a solitaire, engagement or heirloom—and create a removable gem-specific “jacket” that surrounds the original gem. It provides another way to express oneself with the same jewel without altering it. 

Oval diamond ring with ruby Party Jacket

This clever nature and versatility is evident throughout her pieces. Another thing that makes her pieces special is that it is luxury jewelry that can be worn everyday and for all occasions. These are a couple of reasons why McCormack is in high demand for her bespoke work, collaborating with clients to create something special and unique. Clients include Rihanna and Madonna. As the story goes (as these stories often go) Rihanna was McCormack’s first customer when she operated a small, private appointment studio. The singer and fashion icon purchased a single “Wings of Desire” earring.

Wing of Desire Earrings

McCormack’s petite, edgy and versatile diamond-centric jewels have attracted a strong following throughout the world (particularly in the U.K. and U.S.), despite their limited availability. 

It is a successful business that is at a crossroads. The challenge is fueling growth while maintaining its high quality standards and continuity with the Jessica McCormack brand. 

The Romance Room

There are at least three issues facing the company. First, there is demand far exceeding her ability to supply it. The craftsmen produce about 100 handmade pieces per year. Second, the big, beautiful art-filled space, which is as much of the Jessica McCormack brand as her jewels, comes with huge costs. Third, the boutique is away from the busier shopping areas of Mayfair, such as Bond Street. This makes it primarily a destination for clients already familiar with her work. The primary source of casual walk in traffic is from The Connaught luxury hotel directly across the street. 

To diversify the product selection, the brand recently released a bridal jewelry collection with the same relationship to McCormack and her brand as her other jewels. 

The Little Mermaid Ring

For additional help in planning this next phase of the business they recruited New York resident, Colleen Caslin, who just finished a successful eight-year run as the chief operating officer of Verdura and Belperron. She is serving as the interim CEO till June. The veteran luxury executive’s resume includes leadership positions at Movado Group, Graff and Asprey. She is well respected in the industry. I’ve known her during her time at Verdura and Belperron and can’t imagine a better person to guide the business to its next level. 

I met with Caslin during my visit in March and she discussed many ideas that are being considered. Nothing yet has been approved but those loyal clients should be prepared for some changes. 

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Artist Jewels, Led By Andrew Grima, Featured At Bonhams London Auction

Gold, diamond and fire opal brooch/pendant, 1970, by Andrew Grima.  All photos courtesy of Bonhams except where noted

All of the big names, including Cartier, Bulgari and Van Cleef & Arpels, will be part of the Bonhams London Fine Jewelry sale on April 27. However, the auction house will also feature the works of several contemporary jewelry artists, led by Andrew Grima.

Jean Ghika, head of Jewellery for Bonhams UK & Europe, was particularly excited about the five pieces by Grima that will be included in the sale. She says the Anglo-Italian jewelry designer, known for his modern works in the 1960s and ’70s, is a “pioneer of his day” who placed a strong emphasis on textures and conceptual designs.

“It wasn’t about the stones but the concept,” she said during a recent meeting at Bonhams London headquarters. “He was very instep with the changing trends. He represented an interest in jewelry as an art form rather than a conglomerate of stones.”

The Grima pieces she highlighted are:

Jean Ghika, head of Jewellery for Bonhams UK & Europe
displays the Andrew Grima pendant. Photo by Anthony DeMarco

A gold, diamond and fire opal brooch/pendant, 1970, with the oval-cut opal set among an abstract arrangement of textured 18k gold cinnamon sticks, with a brilliant-cut diamond accent. Its estimate is £5,000 - £7,000 ($6,275 - $8,800).

A rutilated quartz, cultured pearl and diamond torque necklace, 1990, with the textured torque suspended at the front by a carved rutilated quartz “apple” with brilliant-cut diamond highlights, surmounted by a grey cultured pearl and brushed leaves. Its estimate is £7,000 - £10,000 ($8,800 - $12,500).

A color change sapphire and diamond ring, 1977, with a cushion-shaped, unheated Sri Lankan sapphire set within an abstract surround of brilliant-cut diamonds mounted on stalks. Its estimate is £5,000-7,000 ($6,275 - $8,800).

The auction of 141 lots will offer a breadth of jewels including signed pieces, antique items and colorful gems. 

The top lot is a Van Cleef & Arpels ring featuring a 10.28-carat E color marquise-cut diamond set between pear-shaped diamonds with an estimate of £150,000 - £200,000 ($188,200 - $251,000).

Signed jewels
The top three items in this group are:

A diamond 'Fuchsia' brooch and earring suite by Van Cleef & Arpels is among the top items in this group. The brooch is designed as a fuchsia flower head, its petals pavé-set with brilliant-cut diamonds and its stamen reveals an articulated cascade of pear-shaped diamonds. Its estimate is £70,000 - £100,000 ($87,800 - $125,500).

In addition, the auction will offer an Art deco diamond bracelet by Cartier, circa 1925. Signed “Cartier Londres,” the finely pierced articulated geometric strap is decorated with cushion-shaped old brilliant and single-cut diamonds. Its estimate is £20,000 - £30,000 ($25,100 - $27,600).

Another standout in this group is an enamel and diamond “Serpenti” bracelet-watch by Bulgari, circa 1965-1970. The articulated bracelet is composed of a series of overlapping scales applied with orangey-yellow and red enamel. The serpent’s head has a forked tongue and marquise-cut diamond eyes. Its mouth opens to reveal a circular watch dial. Its estimate is £50,000-60,000 ($62,700 - $75,300).

Antique jewels
Some of the standouts in this group are:

A 19th century diamond rivière necklace composed of 45 collet-set cushion-shaped diamonds weighing 43 carats. Its estimate is £60,000 - £80,000 ($75,300 - $100,380).

Photo by Anthony DeMarco

A Georgian diamond panel bracelet, circa 1780, composed of a series of individually sprung plaques, each pavé-set with old brilliant-cut diamonds, within a border of similarly-cut diamonds, mounted in silver closed back settings. Its estimate is £8,000 - £10,000 ($10,000 - $12,500).

An early 18th Century gold and diamond necklace of Portuguese origin in its original fitted case. It’s designed as a series of ribbon-bow motif links suspending a chandelier fringe. Its estimate is £10,000 - £15,000 ($12,500 - $18,800).

A special spinel
Bonhams is placing a special emphasis on spinels. These gems in red and blue (there are other colors) are sometimes mistaken for and are actually rarer than rubies and sapphires. However, their prices are lower. In September 2015, the 50.13-carat Hope Spinel fetched the world record price of $1.4 million at Bonhams London Fine Jewellery Sale, also setting a world record of $30,000 per carat, nearly double the previous record.

For this sale Bonhams is offering an early 20th century spinel and diamond ring. The 5.3-carat Burmese, unheated, step-cut spinel, circa 1915, is set within an octagonal surround of old single-cut diamonds. Its estimate is £15,000 - £20,000 ($18,800 - $25,100).

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No Buyer For 1,100-Carat Rough Diamond At Sotheby's London Auction

The Lesedi la Rona

Could the Brexit have played a role in this? 

Whatever the reason, the “Lesedi la Rona,” a 1,109-carat uncut diamond, failed to sell during a stand-alone auction, held Wednesday at Sotheby’s London. 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. However, it failed to meet its reserve price. The bidding stalled at $61 million. Its estimate was $70 million. 

“Sadly it was not sold but it is a magnificent stone, one of the greatest stones ever discovered,” said David Bennett, worldwide chairman of Sotheby’s Jewellery Division.

Bidding opened at $50 million and moved up by $1 million increments at a steady pace until reaching $61 million, as seen through the auction house’s streaming video feed from its London facility. The total sale lasted fewer than 15 minutes. 

The auction was conducted in US dollars as opposed to British pounds sterling, even though the sale was held in London. Again, perhaps the instability of the British currency was the reason.

Prior to the auction Bennett described the reaction from some of the potential buyers who viewed the diamond. “I’ve seen grown men with tears in their eyes believe it or not.”

It’s rare for a rough diamond to be sold at auction, much less a standalone auction. The only other items at bid prior to the Lesedi la Rona, were three rough diamonds being sold for charity. 

Most rough diamonds are sold privately to those experienced with cutting gems. It appears this diamond will now go through these more traditional channels.

The gem is around the size of a tennis ball with “exceptional transparency and quality” and is around 2.5 to more than 3 billion years old, the auction house said. It was unearthed in November 2015 by Lucara Diamond Corp., a Canadian diamond mining company, at its Karowe mine in Botswana.

Its name means “Our Light” in the Tswana language spoken in Botswana.

It’s been more than 100 years since a diamond of this size and quality of the Lesedi La Rona has been found. 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.

The Gemological Institute of America said the Lesedi La Rona’s “top color and transparency exemplify the ‘limpid’ appearance commonly associated with type IIa diamonds,” which accounts for fewer than 2 percent of all gem-quality diamonds. 

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Hancocks Creates 'World’s Largest Cushion Cut Diamond Crossover Ring'

London jewelers, Hancocks, says it has created the “world’s largest cushion cut diamond crossover ring.” It displayed the jewel Tuesday at its store in the Burlington Arcade in Mayfair where it will be sold. The asking price for the 41.78-carat ring is 1.6 million British pounds (more than $2.2 million). 

The ring consists of two diamonds, each weighing more than 20 carats. The edge of one diamond just barely passes over the edge of the other. Both diamonds are cut from the same rough, so their characteristics are identical. According to the family jeweler there are “no pair of stones of this cut that are even close to being this good a match of this size on the market today.”

“The diamonds are extremely rare given they are a perfect match, having been cut from the same piece of rough diamond, and are truly exceptional,” said Stephen Burton, Managing Director of Hancocks. “I have never seen a pair that are as large and well matched as these, having originated from the same rough diamond source which is incredibly rare.” 

The ring, which also has a diamond-paved shank, was designed by Hancocks resident jewelry designer, Amy Burton, as part of her Unum collection. It took over a year of working with Hoancocks’ craftsmen to create the ring. 

The 34-year-old designer will also launch a contemporary fine jewelry range under the “ALB” label exclusive to Hancocks. 

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