Beautiful Patek Philippe watches made up the top 4 highest grossing lots at Geneva’s Antiquorum watch show. A 18-karat yellow gold Patek Philippe Ref. 2499 Third Series set an auction world record for highest price paid for that reference at $522,700. Another beautiful timepiece, the Patek Philippe Ref. 5077, set another auction record for a Patek Philippe reference at $226,450. Overall this shows’ sale totaled just over $6 million. The by-lot number was 84% and the by-value number was 122%.
“It is clear from (the) results that the market for rare timepieces in excellent condition remains robust,” stated happily by Julien Schaerer, managing director and auctioneer at Antiquorum Geneva
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Recycled gold and silver have been used by many ethical jewelers, heavily in North America, for many years. Using recycled silver may be the way to go as under 10 pounds are available monthly, gold however is a different story. Recycled gold is cheaper than using mined gold and therefore generates more profit. This is great in all but the problem is that jewelers think they are being “Eco Friendly” when in fact, the mining industry will continue to mine gold regardless of this recycling process or not and it does nothing to help these ethical mining communities. The reason that Fairtrade gold is so expensive in the USA is because we have to import it from over seas. This is not only expensive but also inconvenient. We need to have these Fairtrade gold casting houses here in America to level the price and make it convenient for jewelers. This is already starting in England, casting houses are popping up and to do a cast in this ethically correct gold would only be $30 to a wedding ring cost. Fairtrade will be offering gold early this fall in North America because of its’ strong brand name and great reputation among clients. With its’ new program, it will be easy and free for smaller jewelers to sell fairtrade gold. This would benefit thousands of small time miners if we can get this program to become mainstream in North America.
We need to find a way to make Fairtrade/Fairmined gold more popular than recycled gold to make it cheaper for smaller jewelers who would want it.
A bead doesn’t have to be a pearl or some other semi-precious stone in order to keep you looking stylish. Nowadays, there are many beautiful acrylic beads that you can pick up without burning a hole in your pocket. Another important factor is that they are extremely lightweight, even the larger beads, and the holes come in all sizes for all stringing projects. You don’t have to use them for absolutely everything, although they are a great addition. If you are buying them online, make sure to look closely for imperfections in the picture, there are many crummy ones out on the market as well.Read more →
FBI agent Eric Ives claims that the best way to prevent jewelry crimes towards your business is to remain aware of possible threats. Don’t let the thought take over you, but just simply be aware. Although the overall number of crimes committed towards jewelers has fallen in general, some new tactics have been discovered; putting a GPS system under the car’s of owners and store managers and invading homes. Therefore, if you see a strange car parked outside of your house on certain days of the week following a pattern, then it would be a good idea to contact law enforcement. The popularity of home invasions recently increased among jewelers as it happened before among bankers. Some great tips to protect yourself would to be constantly mindful of your surroundings and keep a log book. Also, take a slightly different route home every now and then to avoid being followed by thieves.
Due to the recent heavy money laundering of the Kimberly Process certificates, tainted diamonds constantly enter the mainstream sale. This can fund terrorist and other illegal activities as diamonds are small items holding very large values. Mokhtar Belmokhtar, an Al-Qaeda terrorist, has been known to launder money through these precious stones. Agent Ives further mentions that the amount of law enforcement directed towards the Jewelry business is going to be greater now than ever before in order to regulate money laundering and buying diamonds second hand.Read more →
Coral, would be the way to go this warm, summer season. The pinkish-peach coral really has that beautiful vibrant color and looks absolutely beautiful paired with aqua freshwater pearls. If you want to take it a step further, add some sea themed charms such as starfish or Triton in sterling silver. If gold tickles your fancy, feel free to add gold but make sure it’s a higher carat lighter gold to fit in the piece.
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Fossil Inc., based in Richardson, Tx and parent company of Fossil corp. markets stated that there sales have soared to $777 million, a 14% increase, this is for the quarter that recently ended 4/5/2014.
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The Four Season’s Las Vegas hotel will house the sold out Diamond Empowerment fund’s Diamonds in the Sky Gala on May 29 headlined by music superstar Chaka Khan. 6:30 PM will mark the start of the festivities all in honor of Botswana’s president Seretse Khama Ian Khama along with the government of Botswana for receiving Global Diamond Industry Achievement Award all while keeping in mind all the benefits diamonds have on the world.
Superstar Chaka Khan has captivated the world with her superstar talents and made hit in 8 different music genres: R&B, jazz, pop, rock, gospel, country, classical and dance. Ten #1 top charted songs have come out of her 22 albums. in 1999, she started her own organization called the Chaka Khan foundation, which discovers different routes to help women and children in need.
Hip-hop legend and businessman Russell Simmons,co-founded the Diamond Empowerment fund along with other diamond industry leaders in 2007 to uplift the diamond community. Sponsors of this high level event include: Tiffany & Co., The De Beers Group of companies, KGK, Le Vian corp. and others.Read more →
Sotheby’s Geneva Show brought in a whopping $141 million dollars from there auction setting the world record for most money made during a jewelry auction. Overnight, Christie’s Magnificent Jewels sale on May 14 blew this number out of the water by bringing in an out-of-this-world $154 million. The main attraction at this spectacular show was a 13.22 ct. flawless, pear-shaped blue diamond that drew in $24.2 million. The Stone came with a special letter from the Gemology Institute of America stating that is was the largest fancy, blue diamond that the lab has ever laid eyes on. Jewelry specialist Jean-Marc Lunel described the rock as “almost a dream” due to its heavenly clarity and purity. Harry Winston, a Swatch group-owned retailer, purchased this diamond at the show and renamed it “Winston Blue.” This is a great addition to the collection along with the 101.73 ct. “Winston Legacy,” a D flawless stone that the Swatch-group retailer purchased at last years show for $27 million. The sale for this fancy blue diamond scored another record for the show while selling the stone at $1,799,953 a carat, which is the largest amount ever for a blue diamond. The overall price however falls just below the price paid for the blue diamond at Wittelsbach in 2011, 35.56 ct. for $24.3 million. Other extravagant stones at Christie’s auction brought in $21.93 million.Read more →
After a long illness, co-founder Caroline Colaprete passed away at 95 years old. Caroline founded the store along with her husband Phillip in 1948. Her son, Art, is the current president of the company. Along with her son, she is also held up by a daughter, 5 grand children and 11 great-grand children. She had to come out of retirement at 85 and work until 90 years of age. According to an online obituary, memorials can be made to Elk Haven Nursing Home, 785 Johnsonburg Rd., St. Marys, Penn. 15857.Read more →