28-Carat Kashmir Sapphire Sets World Auction Record

A 28.18-carat square emerald-cut Kashmir sapphire sold for nearly $5.1 million. It achieved $180,731 per carat, setting a world auction record of a price per carat for a sapphire.

“With its exceptional quality and deep color, I knew as soon as I saw it that the stone had the potential to reach historic heights,” Gary Schuler, head of Sotheby’s Jewelry Department in New York, said in a statement.

The untreated gem on a ring is framed by 32 tapered baguette diamonds with a mounting by Oscar Heyman & Brothers. It is described by the American Gemological Laboratories as “a gem of singular importance.” The proceeds of the sale will go toward charity, according to the auction house.

The sapphire was one of three colored gems that took top honors in Sotheby’s spring auction of Magnificent Jewels held Tuesday in New York.

The top lot of the auction went to a 15.23-carat fancy intense orangy pink diamond on ring that sold for $6.1 million (pictured above). The cushion-cut diamond with VS2 clarity “displays a soft, feminine color reminiscent of pink diamonds in historic and royal collections,” according to the auction house.

In addition, a 36.53-carat emerald-cut Colombian emerald, known as the “El Dorado,” fetched more than $2.1 million (pictured above). Mounted on a ring it is flanked by two triangle-shaped diamonds weighing approximately 6 carats.

Jewelry from the estate of American entertainer Eydie Gorme sold for $2.2 million. Almost all of the jewels in the collection were given to Gorme by her longtime husband and partner, award-winning singer Steve Lawrence. Top lots of this collection included a 15.44-carat platinum and diamond ring that sold for $677,000. The center diamond is flanked by two pear-shaped diamonds weighing approximately 3 carats. And a 17.40-carat platinum and diamond ring by Harry Winston that sold for $569,000 (pictured above). The center diamond was flanked by two diamond baguettes. Both sold for well above their high estimate.

Sotheby’s auction of 445 lots fetched more than $44.3 million, with 81.8 percent sold by lot and 87 percent sold by value.

“Our results reflect the global participation of bidders throughout the day, with significant interest from private collectors, as well as the steady, strong market for diamonds and gemstones of outstanding quality,” Schuler said.

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First Jewelry Tradeshow in Freiburg Reports Positive Results, Plans Expansion

While at Baselworld I was planning to spend at least one day at the inaugural Jewellery & Gem Fair – Europe 2014 tradeshow held in Freiburg, Germany. However, a Lufthansa pilot strike forced me to leave Europe early so I didn’t get to attend.

The only report I received on opening day was that there was a good crowd and positive feeling. A report from UBM, the organizer of the B2B sourcing fair held April 1 - 4, said that 6,000 trade professionals attended. 

The show presented a range of goods including finished jewelry, diamonds and colored gemstones, jewelry mountings, and manufacturing tools and equipment.

Of the 6,000 visitors, about 4,280 were professional buyers, according to UBM. Most of these buyers were from Germany, Switzerland, Italy, Belgium and Brazil. The show is held at approximately the same time as Baselworld and is about an hour away by train, giving jewelry industry professionals the opportunity to attend both shows. 

“The vast majority of exhibitors and traders viewed the exhibition as a success. We are very pleased with the positive feedback from the market and see this as a confirmation that JGF Europe is now listed as an important industry event in the jewelry calendar,” said Wolfram Diener, senior VP of UBM Asia.

The 2015 edition is scheduled for March 22 to 25. Due to an increase in the demand for exhibition space, the fair will occupy an additional hall at Messe Freiburg, UBM said.

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Pair Of Natural Pearls Belonging to Empress Eugenie Fetches Auction Record $3.3 Million

A pair of rare natural pearls believed to have been owned by the last empress of France sold for a world record auction price of more than $3.3 million. The Doyle New York auction house, which sold the pearls Monday, said they were purchased by a telephone bidder who requested anonymity.

The price surpassed the prior world record for a pair of natural pearls set in May 2013 by Sotheby’s Geneva belonging to actress Gina Lollobrigida for $2.4 million. That pair broke the earlier record of $1.99 million set by Christie’s New York at the sale of the collection of Elizabeth Taylor in December 2011.

The drop-shaped pearls were accompanied by a hand-written note that refers to them as having belonged to Empress Eugenie of France, the wife of Napoleon III (the last emperor of France), the auction house said. In 1887, following the fall of the monarchy, an historic auction of the French Crown Jewels took place in the Louvre, lasting 12 days.

Doyle New York has a detailed description of the pearls provenance, owned by the family of two prominent industrialists of America’s Gilded Age.

They were first purchased by George Crocker (1856-1909), the son of Charles Crocker, who founded the Central Pacific Railroad in California. They were later owned by the descendants of Henry Huttleston Rogers (1840-1909) of Massachusetts, an American industrialist who made a fortune as a partner with John D. Rockefeller in Standard Oil and a founder of the Virginia Railroad.

The pearls measured nearly an inch in height and a half-inch wide, and were warm gray in color, according to the auction house. They were mounted with antique silver and diamond caps, which were set onto a circa 1920 platinum and diamond pendant. 

The pearls were accompanied by a report from the Swiss Gemmological Institute SSEF describing them as natural saltwater pearls with no indications of artificial color modification. The Institute added a statement describing them as “very rare and exceptional, and thus this pair of pearls can be considered a very exceptional treasure of nature.”

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Kering Strengthens its Focus On Luxury Jewelry and Watches

Tilda Swinton wearing colorful Pomellato rings. The Italian jeweler is owned by Kering.

French multinational holding company Kering (previously known as PPR) continues its transformation (at least three years in the making) into a luxury and lifestyle conglomerate with the recent announcement that it has reorganized most of its luxury brands into two divisions and appointed executives to lead those groups.

Albert Bensoussan, 55, a former LVMH executive, was named CEO of the “Luxury – Watches and Jewelry” division, which will house the brands Boucheron, Girard-Perregaux, JeanRichard, Pomellato, Dodo and Qeelin.

The last three brands (Italian jewelers Pomellato and Dodo; and Hong Kong based jeweler Qeelin) were purchased by Kering within the past two years and is evidence of its pursuit of luxury jewelry companies.

Meanwhile, Marco Bizzarri, 51, a Kering employee who most recently served as president and CEO of Bottega Veneta, was named CEO of the “Luxury – Couture & Leather Goods” division, which will be made up of Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier and Sergio Rossi.

Bizzarri remains president of Bottega Veneta until a new CEO is appointed.

Gucci will remain under the responsibility of Patrizio di Marco, chairman and CEO, who will remain under Pinault’s supervision.

Both appointments take effect in May. They will both report to François-Henri Pinault, Kering chairman and CEO.

“The new structure reflects the specific character of the businesses of the Group’s different brands, and will provide better responses to their particular needs, adapted to each brand’s stage of development,” Pinault said in the April 24 announcement. “The introduction of this structure is a logical stage in the formation of a more integrated group, to further accelerate the development of our brands while respecting the autonomy and individual identity of each of them.”

Bensoussan, Bizzarri and di Marco are all members of Kering’s executive committee.

Along with the new appointments there will be resignation. Alexis Babeau, managing director of Kering’s luxury division since 2011, said he had successfully fulfilled his mission and wanted to take his career in a new direction. Pinault credited him for the development of luxury brands first at Gucci Group and then at Kering.

“Alexis played a key role in identifying and implementing operational synergies between our brands, while maintaining the creative independence that makes each of them unique,” Pinault said.

In addition, Pinault said he will remain the chairman of the board at Saint Laurent. “Saint Laurent is at a pivotal moment in its history and reform as undisputed reference for Parisian elegance,” Pinault said. “Retaining its chairmanship ensures the preservation of the unique individuality and positioning of this historical French Couture House.”

Kering also has a “Sport & Lifestyle” division with the brands Puma, Volcom, Cobra, Electric and Tretorn.

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Warren Buffett Signed Diamonds Available at Berkshire Hathaway Annual Shareholders Meeting

Warren Buffett’s signature is laser inscribed on the diamonds.

What’s more valuable, Warren Buffett’s signature or a diamond? Berkshire Hathaway shareholders attending the company’s annual meeting in Omaha, Neb., won’t have to choose. 

Borsheims Fine Jewelry and Gifts, owned by Berkshire Hathaway, will give shareholders attending the May 3 meeting the exclusive opportunity to buy a diamond laser-inscribed with Warren Buffett’s signature. Some will even be able to buy Buffett-signed diamonds directly from the man himself on May 4, as he will be selling jewelry from Borsheims for the fourth consecutive year.

The limited-edition diamonds went on sale Monday, said Adrienne Fay, Borsheims marketing and advertising director. There are 26 loose diamonds available, ranging in size from 0.75-carat to 5 carats and in price from $5,000 to more than $200,000. They are available in round and square cuts and are ready to be mounted as earrings, pendants or rings.

In addition, Fay said 25 of the Warren Buffett-signed diamonds have been set into diamond pendant necklaces and will be on sale only at the CenturyLink Center, the site of the Berkshire Hathaway annual shareholders meeting. The 0.5-carat diamond pendant necklace featuring Buffett’s signature normally would retail for $2,500, but Berkshire Hathaway shareholders can purchase it for $1,750.

Each diamond comes with a pamphlet describing its special nature and a loupe so the buyer can see the inscription, the company said. There are no plans to sell any more of these Buffett-inscribed diamonds.

“All of the diamonds are already inscribed with Mr. Buffett’s signature,” Fay said. “We currently have no plans to sell more than more than the 25 pendants or 26 loose stones as they are a special and exclusive addition to our inventory for the shareholder weekend.”

The diamond sale serves as a promotion for the Borsheims Signature Diamond collection. Each diamond has a star cut into the culet of the diamond, giving the diamond additional fire and brilliance, the company said in a statement. The diamonds originate in Canada’s Northwest Territory in which the company says miners and companies use the “most environmentally friendly way to extract the diamonds.” Each diamond is laser-inscribed with an identification number, the Borsheims name and a maple leaf, guaranteeing its Canadian origin. The inscription allows buyers to identify their diamond and trace it back to its Canadian mine.

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MB&F Teams with L’Epée 1839 to Create Star Trek Themed Table Clock

Starfleet Machine in Dark Face

MB&F—in what is becoming a legacy for this young, innovative company—has again teamed up with a traditional mechanical movement manufacturer to create a bold concept in design and function. The “Starfleet Machine,” is a traditionally functional table clock with a futuristic appearance.

The clock combines the innovative design skills of the multi-award-winning MB&F (known for its cutting-edge “horological machines”) with the traditional fine craftsmanship and engineering skills of table clock manufacturer, L’Epée 1839. It was unveiled by both companies at Baselworld 2014. The inspiration of the clock is based on the MB&F’s founder, Maximilian Büsser’s passion for high-end mechanical watchmaking and Science Fiction, in this case the Star Trek television and film franchise. The idea Büsser said was “to boldly go where no clock designer had gone before.”

This introduction follows last year’s Baselworld release of the “Music Machine,” which was the first piece by the Geneva-based firm that wasn’t a timepiece but a music box, created with luxury music box maker, Reuge. It was shaped like a futuristic spaceship and the songs it played included the Star Wars and Star Trek themes.

Charris Yadigaroglou, MB&F chief communications officer, said during a meeting at Baselworld that the Starfleet Machine will be available in May and will be limited to 175 pieces in light and dark versions. Its cost is 28,000 Swiss francs ($31,763).

The C-shaped totally exposed and minimalistic Starfleet Machine looks different from any table clock ever made. The highly visible in-house movement has a power reserve of 40 days. (“You need a large fuel tank for long space voyages,” the company said.) Hours and minutes are indicated on the central black dome by hand-polished hands that follow the dome’s curved contours. Behind that, a smaller rotating dome, accompanied by a revolving “radar dish,” provides a view of remaining energy: five bars indicates the movement is fully wound; one bar means it has eight days of remaining power, which is the maximum power reserve on most table clocks.

Below 12 o’clock on the central hour-minute dome are double retrograde seconds in the form of what the company describes as “turret-mounted laser cannons.” The red-tipped cannons start in parallel and cross over one another before rapidly flying out again, an action marking off 20-second intervals.

L’Epée’s caliber has five main spring barrels that usually equips vertically standing clocks, but here it is laid flat. The escapement platform also had to be set horizontally.

Every component (except the 48 jewels) of the palladium-treated brass movement is designed and manufactured at L’Epée’s Swiss atelier. The gears and mainspring barrels are on full display due to the skeletonised mainplate and concentric C-shaped external structure in stainless steel. the clock can rest on both ends of its “vertical landing gear;” useful for turning it over to wind the mainspring and set the time.

It is covered with a glass dome, which isn’t shown in the photograph nor was it on display at Baselworld, Yadigaroglou said. 

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World’s Largest Flawless Vivid Blue Diamond May Fetch $25 Million

The Blue

A 13.22-carat blue diamond is the lead item at Christie’s Geneva Magnificent Jewels sale May 14. Known as “The Blue,” the auction house says it is the largest flawless vivid blue diamond in the world. It has a pre-auction estimate of $21 to $25 million.

The Ocean Dream

Another highlight of the 250-lot auction at the Four Seasons Hotel des Bergues is what the auction house is calling the largest fancy vivid blue-green diamond in the world to come to auction. Known as “The Ocean Dream,” the 5.50-carat gem has an estimate of $7.5 to $9.5 million. “The combination of its size, natural origin, hue, and saturated color makes it an extremely unusual occurrence,” Christie’s said in a statement.

Other diamonds expected to generate strong international interest include a 76.51-carat light pink cut-corned diamond set as necklace centerpiece by diamond dealer Lev Leviev with an estimate of $7 to $10 million (pictured above); and a 75.97-carat pear-shaped D-color flawless diamond with an estimate of $13.5 million to $15 million (pictured below).

The 250 lot sale is estimated to fetch a total of $80 million, Christie’s said. It includes the following:

* A collection of 14 jewels from a “European Gentleman” under the heading, “A Passion for Jewels.” It includes the Rajah diamond, a 26.14-carat, old-mine brilliant-cut diamond with an estimate of $3 to $5 million. 

* Another highlight of “A Passion for Jewels” collection is the Belle Époque Devant-de-Corsage brooch, crafted in 1912 by Cartier. It is estimated to fetch $7 million to $12 million. 

* 20 pieces from the Estate of Baroness Thyssen-Bornemisza de Kaszon will be another highpoint of the auction led by a natural pearl and diamond necklace estimated at $550,000 to $700,000.

* A five-strand necklace composed of 87, 81, 76, seventy-one and 65 natural pearls with an estimate of $2 to $3 million.

* A 21.41-carat cushion-shaped Alexandrite with no indications of treatment and a distinct color-change from green to purple with an estimate of $500,000 to $700,000. 

* A necklace made of seven Mughal engraved spinel beads that date back to the 17th century with an estimate of $1.5 to $2 million. 

* A three rectangular-cut diamond ring designed by JAR with an estimate of $330,000 to $460,000. Proceeds will benefit Ospendale Pediatrico Bambino Gesu in Rome and the Pediatric department of the Ospedale San Paolo in Milan.

* Mystery-set ruby and diamond ear pendants, entitled Entrée en scène, was part of the “Une journée à Paris collection Van Cleef & Arpels launched in 2006 as an homage to Paris. It has an estimate of $200,000 to $310,000.

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