The New A. Lange & Söhne South Coast Plaza Boutique

Photo credit: Anthony DeMarco

German luxury watch brand, A. Lange & Söhne, added to its international network of boutiques with its newest location at South Coast Plaza in Costa Mesa, Calif.

The new store in the 240-store luxury retail mall officially opened with a cocktail reception on October 15 attended by nearly 100 persons.

A watchmaker demonstrates a few of the brand's 51 calibers. Photo credit: Anthony DeMarco

“Costa Mesa marks an important step in the brand’s expansion in the United States,” said Gaetan Guillosson, president of A. Lange & Söhne North America. “The first A. Lange & Söhne mono-brand store in California is a commitment to our ever increasing number of fans on the West Coast.”

Private sales room. Photo credit: Anthony DeMarco

It’s the fourth US boutique and first in California for the watch brand, known for its high-complication creations. The 925-square-foot store is typical of the traditional look and feel of A. Lange & Söhne boutiques. The signature grey color, known informally as “Lange grey,” with wood trim and furnishings dominates the three-room space. There are also sandstone elements, which serves as a nod to company’s Saxon origin. In addition to the main display area, there are two smaller rooms in the back, one for private sales and a library-like space for relaxing.

The 1815 “200th Anniversary F. A. Lange”

The reception included a selection of new timepieces from the Watches & Wonders luxury watch event held in January in Hong Kong. It included the 1815 “200th Anniversary F. A. Lange” in a honey gold case, a gold alloy unique to the watch brand. The watch celebrates the 200th birthday of the company’s founder, Ferdinand Adolph Lange. The manually wound caliber L051.1 is composed of 188 parts and has a power reserve of 55 hours. It is limited to 200 watches.

The gold A. Lange & Söhne watch I wore for the event.

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MB&F Reinterprets The Perpetual Calendar

A perpetual calendar is one of the most classic complications for a watch and one of the most difficult to maintain, according to Maximilian Büsser, founder of luxury watch brand MB&F.

“I call perpetual calendars boomerang watches because they come back for repair so often,” he says. “The mechanisms jam, block, break or jump days when they shouldn't.”

So when Irish watchmaker, Stephen McDonnell, came to Büsser with a new way to design a perpetual calendar, he was all ears. The resulting timepiece, Legacy Machine Perpetual, solves several problems inherent in traditional perpetual calendars while creating a new aesthetic for the complication, according to its makers.

Traditional perpetual calendars use a grand levier (lever) system, which assumes that, by default, all months have 31 days, Büsser says. Any manipulation or adjustment of the date during the monthly changeover can result in damage to the mechanism. The dates can also jump or skip during changeover, “negating the whole point of the perpetual calendar, which is not requiring adjustment for years,” Büsser says.

The 581-component caliber includes a patent-pending “mechanical processor” consisting of a series of superimposed disks. It takes the default number of days in the month at 28 (because, all months have at least 28 days) and then adds the extra days as required by each individual month. This ensures that each month has exactly the right number of days.

“There is no ‘skipping over’ redundant days, so there is no possibility of the date jumping incorrectly,” Büsser says.

The mechanical processor also enables quick-setting of the year so that it displays correctly in the four-year leap year cycle, whereas traditional perpetual calendar mechanisms may require the user to scroll through up to 47 months to arrive at the right month and year. And there’s an inbuilt safety feature that disconnects the quickset pushers during the date changeover, eliminating any risk of damage while the date is changing.

“The end here was to create a calendar which is foolproof,” McDonnell says. “You can press the correctors whenever you like. You can manipulate anyway you like. But whatever you do, you’re not going to break anything; you’re not going to damage anything.”

Replacing the big level system with MB&F’s mechanical processor enables the centre of the complication to be used, “thereby saving space and allowing design freedom as the full dial is no longer necessary,” according to the Geneva-based watchmaker.

With this new system, all of the indications of the perpetual calendar mechanism are placed on top of the movement’s main plate using skeletonized subdials, making the calendar easier to read while providing a new aesthetic.

“There’s no real difference between the display and the mechanisms,” McDonnell says. “The dials now appear to completely float in midair.”

Legacy Machine Perpetual launches with a limited edition of 25 pieces in 18k red gold and 25 pieces in platinum 950. 

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Doris Panos Fashion Collection

Cuff Collection

Doris Panos is an award-winning luxury jewelry designer for more than 20 years whose pieces are worn by celebrities and sold at high-end retailers. She is known for her gold and diamond designs that are both intricate and bold, including stackable rings and bangles, delicate marquis-shaped drop pendant necklaces, and 18k white gold, round-cut diamond stud earrings with pavé diamond border details, and big yellow-gold bracelets.

Flirty Eye Collection

During the past three years Panos has been branching out, creating more affordable fashion pieces based on her original designs and selling them through television retail networks such as HSN and QVC and through volume department stores such as JCPenney. 

Medussa Collection

She extended this further with the Doris Panos Fashion Collection unveiled in October. This more affordable collection is manufactured with the original designs and molds used for her luxury jewels, but using less costly materials, such as hand cut crystals in lieu of diamonds and brass overlay gold in lieu of precious metals. 

Precious Nest Collection

Panos insists that these are not knockoffs but “original designs by the original designer, for a fraction of the price.”

rose rings

The collection includes the signature stackable bangles, long layered necklaces, earrings and bold statement rings. The pieces are offered in four metal finishes of Silver Tone, Gold Tone, Rose Tone and Gunmetal. The jewels are available at select volume department retailers and exclusively on the new Doris Panos Fashion Collection website. Prices range from $40 to $250. 

Doris Panos

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Stanislas de Quercize Resigns As Cartier CEO, Richemont Sales Up 15%

Stanislas de Quercize, CEO of luxury jeweler Cartier, has requested that he be allowed to step down from his current position for personal reasons, effective immediately, Compagnie Financière Richemont announced Friday. The Swiss luxury goods holding company owns 19 luxury brands, including Cartier, which is its flagship brand. 

De Quercize has been CEO at Cartier since 2012 and has been with Richemont since 1990, serving in leadership positions with several brands, including CEO of Van Cleef & Arpels. He will also resign from Richemont’s Group Management Committee but will remain as a Group executive, taking over the role of chairman of Richemont France.

Cyrille Vigneron, currently the president of LVMH Japan, will succeed de Quercize on Jan. 1, 2016. Prior to joining the LVMH Group, Vigneron worked with Richemont from 1988 to 2013, principally with Cartier, rising to become managing director of Cartier Japan, president of Richemont Japan and managing director of Cartier Europe.

As CEO of Cartier, Vigneron will become a member of Richemont’s Group Management Committee. 

“Stanislas de Quercize has had a superb career to date, having worked with Cartier, Montblanc and Alfred Dunhill prior to taking up positions as chief executive of Van Cleef & Arpels and Cartier,” Johann Rupert, Richemont chairman said in a statement. “We deeply regret that Stanislas has decided to stand down but must accept his decision.”

Richemont made the announcement just prior to releasing its half-year results, ended September 30, showing that sales increased by 15 percent year-over-year to 5.82 billion euro ($6.32 billion). The increase was 3 percent at constant exchange rates. Net profit for the period increased 22 percent to 1.1 billion euro ($1.19 billion), while operating margin was 24 percent, down from 26 percent for the same period of the prior year. 

“Strong growth in our Maisons’ retail sales compensated for the decline in wholesale demand, which was principally driven by the Asia Pacific region. Jewelry sales grew strongly; this product area now accounts for one third of the Group’s sales,” Rupert said. “The impact of exchange rate volatility, in particular the strengthening of the Swiss franc, was largely absorbed through price adjustments and administrative cost controls. Operating profit in the period increased by 6 percent. This growth and the movements in currency gains and losses contributed to a net profit increase of 22 percent.”

In addition to Cartier and Van Cleef & Arpels, Richemont owns 17 other luxury brands, primarily in the watch and jewelry categories, including Montblanc, Vacheron Constantin and Piaget. 

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'Blue Moon' Diamond May Fetch $55 Million At Sotheby's

The 12-carat Blue Moon. Photo credit: Cora International/Tino Hammid

A little over a year ago I was invited to view a 12-carat blue diamond, known as the “Blue Moon” prior to its only public exhibition at the Natural History Museum of Los Angeles County.

Suzette Gomes, CEO of Cora International, a manufacturer of diamonds and jewels known for working with statement diamonds, showed the gem on a plain gray tray under office lighting. When asked of its value, she became annoyed barking the word “priceless” a couple times.

Well it turns out that priceless has a price as it will go up for auction at Sotheby’s with an estimate of $35 to $55 million. Any successful bid at the high end of this estimate will shatter the record for a blue diamond, which is $32.6 million paid in November 2014 in Sotheby’s New York for a pear-shaped 9.75-carat rare Fancy Vivid Blue Diamond Pendant owned by Bunny Mellon.

For Gomes and Cora International, it will present what should be a healthy profit for the 29.62-carat rough it purchased for a reported $26 million even after the costs—which include cutting and polishing it into the 12-carat Blue Moon (which took three months, according to Sotheby’s, after five months of study), exhibiting and travel fees and auction commissions.

There are very few people in the world with the means and desire to purchase such a diamond so Sotheby’s has no doubt been in contact with them and must be fairly certain that the gem, now set on a ring, will meet its estimate—and perhaps surpass it. It is obviously the top lot of its November 11 Magnificent Jewels & Noble Jewels sale in Geneva.

The Blue Moon presented to the press at Sotheby's London in September. Photo credit: Sotheby's

So, what the makes the Blue Moon so valuable?

First, it’s size. At 12.03 carats, it is the largest cushion-shaped Fancy Vivid Blue diamond ever to appear at auction.

Second, its report from the Gemological Institute of America. The organization graded the gem as Internally Flawless and Fancy Vivid Blue, the latter being the highest possible GIA grade, David Bennett Sotheby’s International Jewellery Division chairman, reportedly said, adding that about four of the approximately 400 blue diamonds graded by GIA received the “Fancy Vivid Blue” grade. GIA also gave the gem a Type llb classification, meaning that it contains the chemical element boron, which gives blue diamonds its color by being trapped in the crystal structure during its formation.

Third, it’s pedigree. While statement diamonds do come to the market quite often these days, it’s rare that their origin is known. In this case, the 29.62-carat rough was mined in January 2014 at the Cullinan mine in South Africa. The mine is known for producing the top source for blue diamonds in the world but these gems still only account for 0.1 percent of its total diamond output, according to Gomes. It is also the source of at least two other important blue diamonds: the 30.62-carat “Blue Heart,” Fancy Deep blue stone on display at the Smithsonian Institution and the 27.64-carat Fancy Vivid blue “Heart of Eternity.” However, the mine’s most famous find is a colorless 3,106.75-carat diamond discovered in 1905. The rough diamond was cut into several polished gems. The largest is the 530.4-carat “Cullinan I” or “Great Star of Africa;” followed by the 317.4 carat “Cullinan II” or the “Second Star of Africa.” Both gems are in the Crown Jewels of the United Kingdom.

The Blue Moon in the Cora International office, taken in August 2014. Photo credit: Anthony DeMarco

Fourth, it’s color. Gomes and Sotheby’s are describing the Blue Moon as “ocean blue,” “velvet blue,” etc… When I saw it the conditions weren’t ideal but I described it as aqua blue and translucent with the facets appearing as if they are wavelets on water. The blue is also evenly displayed throughout the gem.

Fifth, the combination of these factors. When looking at the pedigree, being Internally Flawless, Fancy Vivid Blue, and over 12 carats, it becomes a once in a lifetime offering. As one gemologist told me, “Try to go find another…. or even anything remotely like it and you’ll come up with a big goose egg.”

So while Gomes’ presentation skills may need polishing, her skill at identifying and buying quality rough; and making and selling world class diamonds is top notch.

Next week we’ll learn its true value. 

A version of this story also appears on my Forbes.com blog

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International Visitors Account For 55% Of Total At Asia’s Fashion Jewellery & Accessories Fair

While the September Hong Kong Jewellery & Gem Fair gets the lion’s share of attention, there’s another trade fair dedicated to fashion and costume jewelry happening at the same time. 

The 13th edition of Asia’s Fashion Jewellery & Accessories Fair – September concluded on September 19 at Asia World-Expo, Hong Kong, with 7,745 buyers from 102 countries and regions passing through its doors. It’s the same venue as the as the materials and technology portion of the much larger September Hong Kong Fair. It’s no coincidence that the fashion trade fair shares a venue with the larger show as they are both owned and operated by UBM Asia.

Over 55 percent of the visitors came from overseas, while around 30 percent and 15 percent came from mainland China and Hong Kong, respectively. The Top 10 sources of visitors outside the Hong Kong region and mainland China were from the United States, India, Korea, Taiwan, Japan, the Philippines, Thailand, Italy, Germany, the Russian Federation and Spain. Altogether, the top 10 accounted for roughly 35% of the total number of visitors.

Asia’s Fashion Jewellery & Accessories Fair – September occupied 11,360sqm of exhibition space and featured 419 suppliers from 13 countries and regions, including mainland China, France, India, Indonesia, Italy, Korea, the Philippines, Thailand, Turkey, the United Kingdom, the United States, and Hong Kong and Taiwan regions. 

“9FJ remains a key platform where industry professionals source products, collect market information and expand business network. The support of buyers and supplier is essential in propelling the growth not only of this fair but also the fashion jewelry and accessories industry,” said Celine Lau, director of Jewellery Fairs at UBM Asia Ltd.

Lau added that the Stainless Steel Jewellery Pavilion remains "a very popular destination for visitors because of the range of silver jewelry and accessories offered by the more than 40 suppliers." Other attractions included five group pavilions housing exhibitors from mainland China, India, Korea, the Philippines and Taiwan. 

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Burmese ‘Pigeon’s Blood’ Ruby Could Fetch $15 Million At Christie’s Hong Kong

A 15-carat Burmese ruby is the top lot at Christie’s Hong Kong Magnificent Jewels sale on December 1.

Known as the “Crimson Flame,” Vickie Sek, deputy chairman and director of Christie’s Asia Jewellery Department, says the jewel is “undoubtedly the most important pigeon’s blood ruby to be offered at auction in Asia.” Its estimate is $10 - $15 million.

The auction at the Hong Kong Convention & Exhibition Centre will include diamonds, colored diamonds, colored gemstones, jadeite and signed pieces.

In addition to the Crimson Flame, there’s the “Mogok’s Fiery Red” suite by Fai Dee, comprising of a Burmese pigeon’s blood ruby and diamond necklace and a pair of pigeon’s blood ruby and diamond earrings that are being offered as individual lots estimated at $6 - 8 million and $2.9 - 4.1 million, respectively.

Two high quality pink diamonds also will be on offer at the sale: A 7.53-carat Fancy Intense Pink diamond ring (pictured above), with an estimate of $5.8 - 8.3 million; and a 5.22-carat Fancy Intense Pink, IF, cushion-shaped diamond ring (estimate $3.2 - 4.5 million).

A 10.11-carat emerald from an Afghan mine, which the auction house describes as having a “high clarity scarcely seen in emeralds and a flawless gem.” Its estimate is $1 - 1.5 million.

In the jadeite category, a two-strand jadeite bead necklace with a diamond clasp by Cartier (pictured above) has an estimate of $3.5 – 4.8 million. In addition, a jadeite cabochon ring has the same estimate. 

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