Gemesis Creates Lab-Grown Colorless Diamonds

A 1.05-carat colorless round diamond from Gemesis with Very Good cut, J color and VVS2 clarity, certified by IGI.

A Florida-based diamond company has begun selling colorless, lab-created diamonds on its Internet site directly to consumers.

Gemesis Diamond Company has been producing lab-created fancy colored diamonds (primarily yellow diamonds) for some time, with limited acceptance by the jewelry industry and consumers. But the production of colorless diamonds, by far the most widely used diamonds in the world, with what it calls “excellent color and clarity” could give jewelry retailers, jewelry designers and consumers a real choice when specifying diamonds. (In this case the term “colorless” is used to describe what are also known as “white diamonds,” meaning not colored diamonds. It is not describing the “Clarity” grading standard for diamonds, one of the 4Cs.)

Gemesis colorless diamonds are all certified as Type IIa, the purest type of diamond, almost or entirely devoid of chemical impurities. Less than two percent of the world’s diamonds produced naturally are Type IIa. Many of those diamonds are among the most widely sought after in the world, including the “Elizabeth Taylor Diamond,” formerly known as the “Krupp Diamond,” a 33.19-carat Type IIa diamond that was recently auctioned by Christie’s.

There will be confusion with these diamonds, calling them synthetic diamonds. This would be wrong. These are actual diamonds that are formed in a laboratory as opposed to being created naturally.  

Updated information: As I’ve learned,  the explanation above isn’t how many in the industry view this. For many, anything grown in a lab is considered synthetic. This will probably never be settled. But the bottom line remains that these are diamonds. They are not to be confused with diamond-like gems such as cubic zirconia and moissanite.

In addition to the quality of diamonds, another selling point the company is eager to push is that lab-grown diamonds are “conflict-free,” meaning they were not mined in areas where there is a potential for human rights abuses as well as large-scale environmental impact. The diamonds are accompanied by certificates from the International Gemological Institute.

The company, located in Lakewood Ranch near Tampa, says their colorless diamonds are priced according to their overall quality and color, in the same manner as mined diamonds. The largest diamond available on the Gemesis website is a 1.05 carat round diamond with J-color, VVs2 and “very good” cut is priced at $4,837.04. A similar diamond on the Blue Nile website with a Gemological Institute of America certificate is priced at $6,238, an approximate $1,400 difference.

Stephen Lux, Gemesis president and CEO, said in a statement that price alone will not be the only selling point of these diamonds.

“The value proposition to consumers is tangible. It’s not only about price, but about getting the purest and highest-quality diamonds,” he said. “Add to that environmental responsibility and the ability to unequivocally know your diamond’s origin and we have a very special product offering.”

Art Deco Jewels Owned by Copper Heiress Could Fetch $12 Million at Christie’s

Huguette M. Clark

Christie’s auction house will offer a jewelry collection from the estate of Huguette M. Clark, one of the last great heiresses of America’s Gilded Age. Ms. Clark’s collection, which is believed to have been stored in a bank vault since the 1940s, includes signed Art Deco jewels by Cartier, Dreicer & Co., and Tiffany & Co., including an extremely rare 9-carat pink diamond ring and a superb 20-carat D-color diamond ring. The complete collection of 17 jewels is expected to fetch $9 - 12 million at auction on April 17 at Christie’s New York.

“In the world of fine jewelry, this is truly a fairytale collection,” said Rahul Kadakia, head of Jewelry for Christie’s Americas. “Opening the vault to find this treasure trove of period jewels from the best French houses of the early 1900s has certainly been one of the most extraordinary moments of my 15-year career here at Christie’s. The iconic Art Deco design and exceptional craftsmanship of these meticulously preserved jewels are emblematic of the great Gilded Age in American history.”

The jewelry sale is part of the estate sale of three residences at 907 Fifth Avenue in Manhattan owned by the late copper heiress. Christie’s International Real Estate has been entrusted with the sale. The limestone clad, Italian palazzo-style cooperative building on 72nd Street, designed by architect J.E.R. Carpenter in 1915, offers sprawling views of Central Park. Two of Clark’s apartments make up the entire eighth floor; the third occupies half of the 12th floor. The floor plans of her sprawling residences, which need renovation, are being made public for the first time ever.

Ms. Clark died May, 2011, at the age of 104.

Baselworld 2012 is a Smorgasbord of Horological Delights

Seiko’s Astron GPS Solar watch

A fractured arm kept me from attending Baselworld this year. Fortunately, I know some of the best writers and experts in the jewelry and watch industry. One of those folks is William George Shuster who has kindly agreed to take time from his busy schedule to write a few stories from the tradeshow. Below is his second report.

By William George Shuster
Special Correspondent

BASEL, Switzerland — Baselworld, the world’s largest watch and jewelry trade fair is like an annual smorgasbord for watch enthusiasts, offering up everything from popularly-priced mass market watches to exquisite haute horlogerie timepieces and the 40th annual edition of this ever-expanding trade event (which runs until March 15), is no exception.

Travelers’ tool. A number of new models cater impressively to world and business travelers.

One standout is Seiko’s new Astron GPS Solar watch (top picture), presented with great flourish at the fair by Japan-based Seiko Watch Co., one of the world’s largest watchmakers. The impressive timepiece, powered by solar cells in the dial eliminating the need for batteries, can adjust itself to the time and location of the world’s 39 time zones at the gentle push of a button, thanks to signals from at least four GPS satellites, which the watch is always in contact. It is the first timepiece able to adapt immediately to all of the world’s time zones, wherever the wearer travels. That’s why Seiko calls it “the first global watch.”

Another notable timepiece in this category is Rolex’s new Oyster Perpetual Sky Dweller chronometer. The timepiece has a dual-time zone and an off-center innovative 24-hour display operated and adjusted by the watch’s bezel. It also has an annual calendar (the first Rolex watch to have one), uses a new movement and is the start of a new Rolex family.

Exquisite masterpiece. Meanwhile, German luxury watchmaker Glashütte Original, known for mechanical masterpieces, unveiled an exquisite masterpiece. Its limited edition Grande Cosmopolite Tourbillon is a world-first for world travelers, claims the company, and the “most unusual and sophisticated masterpiece in [our] history.” The complicated marvel lets a global traveler track the time of day or night simultaneously at home and while on the road in any two of the 37 world time zones. It accounts correctly for Daylight Saving Time or Standard Time, and can travel forward ‘time wise’ (Eastward) or backward (Westward). All time and date changes made by the wearer are displayed by a perpetual calendar geared to do so.

Completing this unique combination of horological complications—a world-first for mechanical watches, says the company—is a flying minute tourbillion (developed in 1920 in Glashütte). One interesting side effect: Its dial design looks like a “winking” happy face due to the placement of its day, month and day/night sundials.

If you want it, however, act quickly: The 43mm platinum timepiece is limited to 25 pieces worldwide and costs 325,000 Euros ($426,500).

Hublot $5 million watch

Of course, that’s chicken feed compared to the world’s most-expensive watch unveiled at Basel: The “Hublot $5 Million,” created by the innovative Swiss luxury watch brand. Also a world first, the 44mm mechanical timepiece is covered with 1,282 diamonds, weighing more than 100 carats, including six square stones, each more than three carats. It took one year to select the stones, and another 14 months to create the watch. Why did Hublot make it? Because it can.

Innovation & fun. The focus isn’t all on travelers watches, quartz-based technology or example of craftsmen’s art. Many of the watch business’s technological innovations in recent years have involved watches with mechanical movements (both hand-wound and self-winding). One notable at BaselWorld is Swiss watchmaker Ellicott’s tribute to John Ellicott, a 17th century English watchmaker. The watch is the world’s thinnest minute repeater with perpetual calendar, with a hand-wind mechanical movement measuring in at just a wispy 5.1mm.

Ritmo Mundo’s Reflex

And watches can be just plain fun, too. Ritmo Mundo’s Reflex ($150) is inspired by the “slap bracelet” from childhood. Gently tap the futuristic tongue-shaped timepiece against a wrist and the snap curl design, in brightly-colored smooth silicone immediately wraps around it, whatever the size. Its parallel-line LED digital linear display shows time and date, with numbered dots that immediately light up.

Star gazing. If BaselWorld is like a horological smorgasbord, it is also—pardon the abrupt shift in metaphor—a stage for many of the world’s celebrities,

BaselWorld isn’t only the center of the globe’s watch and jewelry business for a week. It is also a magnetic for celebrities. Among those seen during the show’s first days were international movie star, former U.S. governor and avid watch collector Arnold Schwarzenegger (stopping by to say hello to his friend Ali Soltani, owner of Ritmo Mundo watches); tennis champion Roger Federer (a Basel native) for luxury watch brand Rolex; and movie actress Cameron Diaz, brand ambassador for TAG Heuer Swiss luxury sport watches.

Also smiling prettily for their fans were Melinda Bam, Miss South Africa (brand ambassador for Jet Set watches); Alina Buchschacher Miss Switzerland (brand ambassador for Balman watches); and Justine De Jonckheere, Miss Belgium 2011, visited the show’s gemstone halls.

William George Shuster is a multi-award winning writer—including three Jesse H. Neal Award, business journalism's highest honor. He has 40 years experience as a journalist, author and editor. He is considered one of the world’s top watch industry journalists, covering the world of timepieces for the past 30 years.

An Up Close View of Hublot's $5 Million Watch

Swiss luxury watch brand Hublot unveiled a diamond-covered $5 million timepiece Wednesday at Baselworld—the world’s largest and most important watch and jewelry fair, in Basel, Switzerland. The company released professionally photographed images of the timepiece Friday.

The watch is covered with 1,282 diamonds, including six square stones that weigh more than three carats each, according to media reports. Jean-Claude Biver, Hublot president, said it will be difficult to make a more expensive timepiece because of the size limitations on the surface of a watch.

The company said in a statement that “a completely different approach was used for its creation.” Normally, the design and technical characteristics of a haute joaillerie piece are created to match the gemstones that were selected. For the making of this timepiece, the diamond cutters started with a design and then found the diamonds that best matched the construction of the case, dial and bracelet.

“Cutters and setters then employed all of their expertise to resize them to ensure a perfect fit,” Hublot said.

Cautious Optimism Fills Baselworld Buoyed by Asian Demand for Luxury

A fractured arm kept me from attending Baselworld this year. Fortunately, I know some of the best writers and experts in the jewelry and watch industry. One of those folks is William George Shuster who has kindly agreed to take time from his busy schedule to write a few stories from the tradeshow. Below is his first report from the event.

By William George Shuster
Special Correspondent

BASEL, Switzerland – Baselworld, the world’s largest and most important watch and jewelry trade show, opened March 8 amid optimistic expectations by many for good business in 2012—but not too optimistic.

“We’re confident about 2012” because of strong business results in 2011, especially in luxury due to China’s appetite for it,” said Francois Thiebaud, chairman of the show’s Swiss exhibitors and president of upscale watch brand Tissot, echoing many vendors, “but we’re not overconfident. The Eurozone crisis and debt problems elsewhere could still have effects [on business].”

This 40th annual BaselWorld fair, in Basel, Switzerland, Mar. 8 – 15, has 1,815 exhibitors (608 in watches, 689 in jewelry and 518 in related products and services) from 41 countries. More than 100,000 buyers and visitors from 100 countries are coming, and all is being reported on by more than 3,000 print, TV, radio and Internet journalists from around the globe.

The reason for their interest is obvious: Because Baselworld is, in the words of Show Director Sylvie Ritter, “a microcosm, where the players from the world’s watch and jewelry industry gather for a week.” It is an important bellwether of products, innovations and trends affecting the industry, consumers, and the retail business worldwide for year ahead.

Bullish. The cautiously bullish mood among exhibitors and analysts at the show is based on strong—even record-breaking—results for watch and jewelry exports and sales in 2011, especially in the luxury sector. That’s due largely to sharply rising consumer demand in Asia, especially China, say industry analysts in Basel. These strong business statistics for 2011 came despite many economic problems affecting sales and profits worldwide, they say, including the dramatic debt crisis in many Eurozone countries, the uncertain U.S. economy and the strong Swiss franc (which weaken Swiss watchmakers’ profits). Still, “[even] in this far-from-encouraging environment,” said Jacques J. Duchêne, long-time President of the Show Exhibitors’ Committee and former Rolex SA executive, at the annual pre-show press conference, “one industry has been able to stand up well and even break numerous records—the watch and jewelry industry.”

Indeed, it has. The year 2011 was “historic,” as Duchene put it, for the Swiss watch industry. Their exports totaled 19.3 billion Swiss francs (about $21 billion), an increase of 19.2 percent, making it the best year ever in the industry’s history—rebounding from its worst in 2009. Actual pieces exported were just under 30 million.

Unquenchable. Much of that was led by the seemingly unquenchable demand in Asia for fine watches: Over half (55 percent) of the Swiss exports went to Asia, primarily China, up 48.7 percent. (North America got 14 percent while Europe got 29 percent).

Duchene was quick to point out, however, that the Swiss success is not only due to the Far East. “It’s true demand was very buoyant in Asia,” he said, “but the watch industry has built up a good reputation in all emerging countries and succeeded in creating demand, especially in the luxury-products segment.”

So, “even in the face of a rather unfavourable economic environment, we envisage export growth in 2012,” Duchene said.

The Swiss aren’t the only ones feeling bullish about 2012. Spokesmen for the German, French, Italian, Israeli and Hong Kong delegations (the latter, being the show’s second-largest) also report good sales and export results in both watches and jewelry in 2012, despite the economic challenges, again especially in the luxury sector (and again, buoyed by record Chinese consumer consumption of revelry and watches). They too were upbeat about business results for the industry in 2012. As Gaetano Calvalieri, president of The World Jewellery Confederation (CIBJO) and spokesman for the Italian delegation, noted, “consumers in Asia, especially China, will carry Italian jewelry industry to new heights.”

Even if Chinese consumption slows slightly in 2012, as some reports suggest, “Even a one digit increase in demand this year is more than last year,” said Thiebaud.

"Excellent.” Those in the gem and diamond business also expressed upbeat predictions for 2012.

Eli Avidar, Managing Director of the Israel Diamond Institute Group of Companies, told its annual Baselworld luncheon that 2011 was “an excellent year” for the Israeli diamond industry, which exported $7.2 billion of polished diamond, and has “emerged from the crisis [of the 2008/2009 recession] stronger.” Again, some of this is due to Asia. “There is a steady rise in demand for large diamonds in China and we believe it will go much further,” especially is the international industry invests significantly in promoting diamonds and diamond jewelry in China. He also noted that there are “signs of recovery in the U.S. economy”—unlike Europe, where was no visible increase in diamond demand in 2001 or 2012—and we expect significant rise in demand in diamond jewelry in the U.S. this year.”

William George Shuster is a multi-award winning writer—including three Jesse H. Neal Award, business journalism's highest honor. He has 40 years experience as a journalist, author and editor. He is considered one of the world’s top watch industry journalists, covering the world of timepieces for the past 30 years.

Vacheron Constantin Sponsors Major Art Event and Unveils New Timepieces

Art lovers and watch lovers mingle inside the Vacheron Constantin Fifth Avenue boutique.

NEW YORK — Vacheron Constantin’s jewel box of a boutique was aglow on a recent cool, crisp evening. Inside, art enthusiasts mingled with timepiece lovers within the lightly colored space highlighted with dark wood tones, straight lines and minimal furnishings.

The March 2 gathering then moved a couple blocks north to the 1900 French Renaissance building that houses The Lotos Club, one of the oldest private literary establishments in the U.S. The building and its uniformed staff begs formality even though inside it is a cozy and comfortable space. Books of every conceivable subject were stacked from nearly floor to ceiling in shelves around the main dining room where the guests had dinner.

The guest at The Lotos Club.

The venerable Swiss luxury watch company held the gathering for two reasons:

First, it served as a preview for The Armory Show, an annual international contemporary and modern art fair that opened Thursday and runs till Sunday, in which Vacheron Constantin is a sponsor. Prior to dinner, Paul Morris, the founding director of the show, gave guests a preview of the art that will be on display and a presented a brief history of its modest beginnings at the former Gramercy Hotel to its move to the 69th Street Regiment Armory and finally to its current home at Piers 92 and 94.

Metiers D’Art Les
Univers Infins Fish

The second reason was to unveil the newest Vacheron Constantin timepiece collections to its loyal U.S. customers as well as art buyers—in particular, considering the brand’s sponsorship of an art event, the Metiers D’Art Les Univers Infins collection. It features three artistic dials based on the work of famed Dutch graphic artist, M.C. Escher and his use of tessellation—which uses a two-dimensional plane with a repeating geometric shape with no overlaps and no gaps. The Dove Watch, Fish Watch and Shell Watch employ several techniques including cloisonné enameling, gran feu champlevé gemsetting, engraving and guilloché work to create the repeating images.

Patrimony Traditionnelle
14-Day Tourbillon

Also making its premier U.S. appearance was the Patrimony Traditionnelle 14-Day Tourbillon, featuring the longest power reserve of any tourbillon in creation today, according to Vacheron Constantin, and is also the first Vacheron Constantin watch to be approved based on the new 2011 Hallmark of Geneva criteria.

Malte Small Seconds

In addition, there was the newly redesigned Malte collection, introduced in celebration of the 100th anniversary of the tonneau-shaped watch.

The timepieces, which were first unveiled two months earlier in Switzerland, were set up in displays throughout the dining room. Later they were presented on trays for the guests to view.

Damiani Opens Flagship in Osaka

Italian luxury jewelry brand, Damiani, opened a flagship boutique in Osaka, its second in the Japanese city. 

The 1,076-square-foot store in the city’s Umeda section is the first Damiani flagship boutique in the Kansai district and the second Damiani flagship store in Japan, after the Tokyo boutique in Ginza. It’s the tenth Damiani boutique in the country.

Warm and intense shades of natural tones—bronze, gold and copper—that reflect the sunset from Italian islands in the Mediterranean represented the inspiration for the boutique on the first floor of the Hilton Plaza West. 

The project was devised and developed in-house by an all-Italian creative team, included furnishings that were designed and made in Italy. It’s based on the new boutique concept first unveiled by the brand at its recently reopened Montenapoleone boutique in Milan.

Guido Damiani, group president and CEO, was present at the opening on March 5. Japanese actress Yoshino Kimura was the guest of honor.