pricescope's blog

The Beau Sancy, a 34.98 carat double rose-cut diamond, sold for $9.7 million at Sotheby's Magnificent Jewels and Noble Jewels Sale in Geneva on May 15. The top lot was bought by an anonymous buyer after an eight minute bidding war, selling for almost five times the low pre-sale estimate of $2-4 million. The diamond has passed through four royal families of France, England, Prussia, and the House of Orange and was worn by Marie de Medici at her coronation as Queen Consort of Henri IV in 1610.

"Jewels for Hope," the collection of Mrs. Lily Safra fetched $37.9 million and set two auction records at Christie's Geneva on May 14. The renowned collection exceeded its pre-sale estimate of approximately $20 million with 100 percent sold by lot and by value. The evening's top lot was a 32.08 carat Burmese ruby and diamond ring by Chaumet, which sold for $6.7 million, a new world record price for any ruby sold at auction. A group of 18 jewels by JAR sold for $11.4 million, setting a record as the most valuable single-owner collection of JAR's work sold at auction.

At today's Plenary Session in Vicenza, Italy, World Diamond Council members agreed that the Kimberley Process Certification Scheme should evolve and expressed support for discussions to widen the definition of "conflict diamonds" in the Core Documents of the KPCS. The current definition covers rough diamonds that are sold to fund civil conflict. The proposed description would also cover "diamond-related violence in rough diamond producing and trading areas."

WDC's decision to discuss the modification came after Kimberley Process Chair, Gillian Milovanovic, addressed the Plenary Session and suggested the conflict diamond description change to cover "rough diamonds used to finance, or otherwise directly related to armed conflict or other situations of violence."

This week's featured jewel combines Art Deco style with a lively Princess of Hearts cut diamond. Thanks everyone for sharing your gorgeous jewelry in the Show Me the Bling forum!

Tiffany & Co.'s Rubedo metal alloy has sparked debate, as industry professionals and consumers question the metal content and the prices of these rose-colored jewelry pieces, which were introduced last February. According to an article in The New York Times, Rubedo is approximately 55 percent copper and 31 percent gold with a bit of zinc and silver. It's equivalent to about 7.5 karat gold. Because of the minimal gold content, the company cannot call the metal "gold." So the alloy has been given a name, which means "redness" in Latin, a term once used by alchemists to signify alchemical success.

From Tiffany's February press release:

Hankering for some jewelry...and quickly? On May 5th, Richline Group debuted a jewelry kiosk at the Berkshire Hathaway shareholders expo in Omaha. The "Precious Express" kiosk looks like an ATM and vending machine hybrid, dispensing jewelry, gold coins, and other items from Borsheims, which is owned by the holding company. Using a large touch screen, customers can browse for jewelry and product information and then make a quick purchase. The machine dispenses jewelry on the spot and holds up to 72 different items. Richline's chief marketing officer, Mark Hanna, said the company will begin to distribute the kiosk this fall and that the machines are ideal for retail stores, hotels, and airports.

Some of the latest stories in diamond and jewelry news...

Idex: Definition of 'Pearl' on CIBJO Agenda

What does a consumer expect to see when the object put in their hand is called "pearl?"

JCK: Warren Buffett Scores in Second Stint as Jewelry Salesman

Bonhams is offering a rare 17th-century diamond and emerald necklace for private sale. The Mughal Mirror Diamond necklace has been valued at $20 million and holds five rare, colorless diamonds with carved Colombian emerald drops suspended from a woven gold and silk cord. The central diamond weighs 28 carats and is the largest known surviving table-cut diamond. The five diamonds together comprise the largest matched set of table-cut diamonds from the Mughal empire.

Photo: Bonhams

This week's featured jewel rivals any celebrity engagement ring, an Ashoka diamond in a custom handmade halo posted by AshokaLuv. Thanks everyone for sharing your gorgeous jewelry in the Show Me the Bling forum!

Barbie and diamond aficionados were beside themselves when Mattel unveiled the Hope Diamond Barbie in February of 2012. The doll sports a replica of the most famous blue diamond in the world...and a sleek navy blue gown. Designed by Robert Best (creator of the Mad Men doll collection), the Hope Diamond Barbie is styled to evoke 1930s glamour. "Her deep blue floor-length gown nicely complements the diamond, while long white gloves, chandelier earrings and a stunning bracelet complete the look. Her crimson lips and vibrant red hair add to the doll’s aesthetic," said Carol LeBlanc, Vice President of Smithsonian Enterprises.