5.5-Carat Pink Diamond Leads Christie’s Auction Selling For $9.5 Million

A 5.50-carat oval-cut fancy vivid pink diamond with VVS1 clarity sold for more than $9.5 million (over $1.7 million per carat) Tuesday at Christie’s New York Important Jewels sale. The price was well above the precaution estimate of $7.5 million.

Two other lots earned more than $1 million: A 20.08-carat, D‐color VVS1 potentially internally flawless rectangular cut diamond ring by Taffin (pictured above) that sold for $3 million ($153,240 per carat), within its estimate, and a 5.91-carat rectangular-cut fancy light pink VS1 diamond that sold for more than $1.8 million ($310,490 per carat), about three times its high estimate of $675,000. 

The auction itself achieved more than $27.5 million with 83 percent sold by lot and 85 percent sold by value. Seven of the 10 buyers were from the jewelry trade. 

Other highlights of the sales included the following:

* A long chain diamond necklace by Leviev (pictured above) with 108 collet-set diamonds, weighing approximately 1.16 to 1.00 carats with the reverse of each enhanced with pavé-set diamonds. It’s joined by a circular-cut diamond and cabochon emerald openwork clasp, mounted in platinum. It sold for $965,000.

* A pair of pear-shaped D-color internally flawless diamond ear pendants (pictured above) of 5.46 and 5.00 carats that sold for $905,000.

* A Van Cleef & Arpels diamond and sapphire “zip” necklace (pictured above) fetched $389,000, above its $350,000 high estimate. The circular-cut piece is designed to look like a zipper, with a caliber-cut sapphire sliding ribbon, mounted in 18k white gold. 

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Classic Watches with Subtle Innovations at SIHH 2014

Montblanc Meisterstück Heritage Perpetual Calendar

There’s just 16 luxury watch brands that exhibit at the Salon International de la Haute Horlogerie (SIHH), but the amount of watches that are produced each year is staggering. This year was no exception as I go through the new pieces. This new group represents classic watches, with unusual twists. Each is very different even though they can be grouped under the same category of watches.

Montblanc Meisterstück Heritage Perpetual Calendar
In terms of brands, the story of SIHH has to be Montblanc. First came the Montblanc TimeWalker Chronograph 100, which combines the expertise in its watch manufacturing facility in Le Locle with its Villeret manufacturing facility, known for its handmade movements.

Perhaps just as significant was the release of its Meisterstück Heritage Collection. The line was inspired by the 90th anniversary of the brand’s iconic Meisterstück writing instrument. The top piece in this collection is its perpetual calendar model (top photo), which has to be the first watch with a perpetual calendar and a moon phase for 10,000 euros ($13,700). An 18k rose gold model costs about 16,900 euros ($23,200).

The classic 39mm watch is powered by the automatic caliber MB 29.15.

The date is shown at 3 o’clock, the day of the week at 9 o’clock and the month at 12 o’clock. On the inner scale of the month display, the leap-year cycle is shown by a blue triangle and a leap year is indicated by a red number 4. The moon’s phases are emulated in a window at 6 o’clock; with the moon’s age indicated in days at this window’s upper edge. The only drawback I see is a lack of space between the sub-dials. Other than that this watch has earned the Meisterstück (masterpiece) name.

Van Cleef & Arpels Heure d’ici & Heure d’ailleurs
Another brand that had an exceptional SIHH was Van Cleef & Arpels whose biggest introduction was the Midnight Planétarium Poetic Complication. Now comes the Pierre Arpels Heure d’ici & Heure d’ailleurs, which translates as “The Time Here and the Time Elsewhere.” This watch manages to combine the romantic and practical notions of travel and it does so simply, playfully and elegantly.

First the practical, the dual timezone watch comes in a 42mm white gold case with a crown-set diamond. The dial is made of white lacquer with piqué motif. The automatic movement was developed by the Swiss watchmaking firm, Agenhor, exclusively for Van Cleef & Arpels. It has a double jumping hour and retrograde minutes.

There’s a pureness to the appearance of the white dial that displays the two timezones equally. The main timezone is in the aperture at the top of the dial and the secondary timezone in a lower aperture. There’s a single hand between the hour displays that indicates the minutes on the graduated scale.

The hours of the first and second time zones jump at the same time, thanks to a single sector that synchronizes the two hour discs and the retrograde minute hand. When the latter reaches 60 minutes on the graduated scale, it returns to its starting position at the same instant that the hour display changes.

To do this, the automatic movement is equipped with a platinum micro-rotor that takes up little space. By oscillating in two directions, it can supply energy continuously.

Officine Panerai Radiomir 1940 Chronograph
This watch is available in platinum, red gold and white gold. The 45mm classic cushion case has two push-buttons that control the chronograph functions, the cylindrical winding crown and the bezel. It was originally created by Officine Panerai for the Royal Italian Navy.

The red gold version has a brown dial with the combination of graphic hour markers, Roman and Arabic numerals (known as “California”). The platinum version has an ivory dial, with simple baton or dot hour markers. Common to all three versions is the tachymeter scale for calculating average speed and the two chronograph counters.

The mechanical, hand-wound OP XXV caliber movement is developed on a Minerva 13-22 base. The Minerva manufacture (now owned by Montblanc and known as Villeret) has had historic links with Panerai since the 1920s, when the Swiss manufacturer was a supplier to the Florentine watchmaker.

It is available in a limited edition of 100 for both gold versions and 50 for the platinum version.

Parmigiani Toric Résonance 3
The “oversized” date on this watch solves a practical problem of being able to easily see the display. But aside from the practical and aesthetic considerations, Parmigiani said the impetus behind the eye-shaped window came from a watchmaking challenge. The discs on the date mechanism are the same size as the dial. Despite being cut to a great degree of fineness, they require huge amounts of energy to activate them and even more to stop them dead following the instantaneous jump.

To accomplish this, the first cam accumulates energy through continuous friction over time. This arms the large lever continuously, releasing it every 24 hours onto a 31-tooth wheel. The second cam serves as the brake, by controlling a spring-mounted lever. This device keeps the large date discs permanently immobile, releasing them for just a fraction of a second every 24 hours to allow the instantaneous jump.

The center of the dial employs hand-crafted guilloché decoration that enhances the depth of the date. The 45mm watch is powered by the mechanical hand-wound Caliber PF 359, which also has a minute repeater sounding the hours, quarter-hours and minutes.

Baume & Mercier Clifton Flying Tourbillon
This watch is inspired by a tourbillon pocket watch presented by Alcide Baume in 1892 at the Kew Observatory in England. It is powered by the Val Fleurier P591 mechanical hand-wound movement has a 50-hour power reserve. The flying toubillon, located at 9 o’clock, makes a single rotation per minute. A sub-dial displaying seconds is located at 6 o’clock. The 45.5mm case is made of 18k red gold.

Jaeger-LeCoultre Master Ultra Thin
The ultra-thin classical automatic watch has an aesthetically pleasing traditional design. However, creating this sort of simplicity isn’t always simple to achieve. The 38.5 mm timepiece, available in pink gold or stainless steel, is refined and elegant. A single sub-dial on the “eggshell” white dial shows seconds. The thickness of the watch is a mere 7.58mm.

Jaeger-LeCoultre was able to achieve this level of thinness and simplicity through its automatic movement Caliber 896. The 3.98mm thin movement has a 43-hour power reserve.

Ralph Lauren Safari Watch
The luxury design brand introduced a 39mm version of its Safari Aged Steel Chronometer (RL67) as a follow-up to the collection introduced at SIHH 2013. The hand-wound mechanical movement Caliber: RL 300-1 is COSC-certified for the accuracy and precision of its chronometer. It has a 42-hour power reserve. The case is made of aged black steel and the dial of “azure” anthracite with matte varnish and beige luminescent hour and minute hands and hour markers, and a shiny orange second hand.

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Luxury Jewelry Brands and Students Learn From Each Other

Ketty Pucci-Sisti Maisonrouge, Luxury Education Foundation president, addresses attendees prior to student presentations.

It’s a common scene played out in universities throughout the world: Final presentations. Uris Hall in Columbia University in early December was no different with students hurrying in and out of lecture hall 301, dealing with technical issues and making final adjustments to their proposals.

It all seemed typical but yet different. For one thing many of the students were carrying Loro Piana shopping bags. They also seemed remarkably well-dressed for students, with some in proper business attire and others wearing designer outfits, in a few cases sporting serious looking jewelry. The auditorium was filled with fashionably dressed adults who were obviously not instructors or parents.

In the middle of it all, greeting everyone by name and giving direction to the students, perfectly poised and displaying a permanent warm smile was Ketty Pucci-Sisti Maisonrouge. She is an adjunct professor at Columbia Business School, but more importantly, president of the Luxury Education Foundation, which runs and funds this program. The majority of those in the audience were executives from the world’s top luxury brands.

Established in 2004, LEF is a public, not-for-profit organization focused on educational programs for undergraduate and graduate students in design and business students related to the creation and marketing of luxury goods. It is unusual and perhaps groundbreaking in several ways, most noticeably because it combines students from two distinct universities whose intellectual paths at first seem far different: Columbia MBA students and undergrad students from Parsons The New School for Design. It is this combination of business and creative skills that make luxury and fashion so different than other industries and it is the main reason why this program has had a great deal of success.

Amir Ziv, vice dean of the Columbia Business School, talks about integration and education. Photo credit: Anthony DeMarco

“Many times we talk in Columbia about integration, but we are talking about integration between accounting and finance, or economics and marketing,” said Amir Ziv, vice dean of the Columbia Business School, during opening remarks. “But this is a different level of integration. This is integration between two schools that are very different in their nature. Actually they’re coming from two different universities…. They are in a completely different stage of their life and career.”

In addition to academic integration, there’s the involvement of luxury businesses. Approximately 30 luxury brands, nearly all of them household names, participate. There are a number of educational components to LEF but the main program is the “Master Class,” where teams of eight students (four from each school) are given a direct problem from one of the brands to solve for them. These are real life challenges and they work directly with the executive staffs of each luxury brand. It’s a semester-long program that culminates in the final presentation, such as the one held in December 2012 where teams of students presented solutions to problems proposed by luxury brands Hermès, Van Cleef & Arpels, Pomellato, Loro Piana and Chanel.

LEF is certainly a group effort, but the person who makes this complex, convoluted engine hum is Sisti Maisonrouge. Her duties include designing the course, personally attending every meeting between the brands and students, teaching classes and choosing the Columbia MBA students who will participate and for which brand. She says her main job is making sure the brands, in particular the CEOs, put the work in.

“The reality is yes I work hard on it but I make the CEOs work harder than they ever thought they would,” the French native said. “The more time they give the more they will get back.”

Maisonrouge’s counterpart at Parsons, Jessica Corr, an assistant professor and a product design consultant who is new to LEF, selects students from the design school based on their skills. For example, the Hermès project required students with creative technological ability.

The final presentations for public viewing are 15-minute versions of approximately hour-long proposals that the brand executives saw. In addition to time constraints, the reason for this is so brands can maintain an advantage over what Maisonrouge describes as their “friendly competitors.”

“What you saw is what I call the politically correct version,” she said.

The brand executives choose the topics or challenges for the students to solve but Maisonrouge “tweaks the problem” to ensure that everyone benefits. The students benefit through real life implication of what they learned in the program. The luxury brands benefit through the ideas generated from young consumers, particularly through the use of technology, and they gain a better understanding of what young consumer expect from a luxury brand. 

An image from the Hermès presentation titled, "The Living House."
Photo credit: Anthony DeMarco

For the Hermès presentation titled, “The Living House,” one of the challenges the students faced was how to make entering an Hermès store a less intimidating experience. The answer they presented was to use technology to engage pedestrians. They built a storefront window with handprints that looked as if they were created by light or frosted glass. This invited pedestrians to place their hand over the handprint. Doing this activated a holographic image of a Hermès craftsperson at work behind the window.

“They come up with many things that we never thought of and that’s what’s so refreshing and rewarding,” said Robert Chavez, Hermes USA president and CEO, who has been involved with the program since the beginning. “I thought it was just genius. I give them a lot of credit.”

He said during the course of the semester, there were about five meetings with the students. The initial presentation where they receive in-depth knowledge about the brand and a “rough guideline of the general theme,” then follow up meetings to determine the progress.

“We don’t really have input into their presentation,” Chavez said. “What we do is we guide them. They ask us a lot of questions and we’ll answer all of their questions. We always let them do the actual presentation themselves. What they come up with are their ideas and concepts.”

The Van Cleef & Arpels team presenting their pitch. Photo credit: Anthony DeMarco

For Van Cleef & Arpels, it was the first time they participated in the program. The brand asked the students to come up with a marketing strategy for a new bridal line for the U.S. market.

“The entire process from choosing an engagement ring to walking down the aisle is a very sociological process and one that varies even within cultural subsets by age,” Nicolas Bos, CEO Van Cleef & Arpels Americas. “The opportunity to work with students was particularly intriguing because this is a generation who consumes incredible amounts of information from all different types of media in virtual real-time; who are both influenced and influencers within their social and familial networks.”

Bos said the brand had five meetings with the students and spent a great deal of time educating them on the history of the brand. Bos said the students “got it” almost immediately.

“What was especially surprising and exciting about the student team was their capacity to work at a very fast pace, to understand our Maison and values in the space of not only the luxury world but also the fine jewelry world, and their agility moving forward quickly through the project without delays or confusion,” he said.

The team developed a story telling strategy that focused on two-way communication between the brand and customer. “Where Van Cleef could reach into their rich history and tell their stories to the customer, but also hear from the customers themselves and take those stories on board,” one of the team members said during the presentation.

The story they told was the love story of Estelle Arpels and Alfred Van Cleef who married in 1896 and established the first Van Cleef & Arpels boutique on Place Vendôme 10 years later. They presented as a video with music in storybook form but it is designed to be used for all media purposes. They also used the story in a window display at the Van Cleef New York boutique.

The second part of the strategy is a call for the general public to present their love stories through Facebook. The winner will receive a free trip to Paris to have a custom ring designed at the Place Vendôme boutique.

“While this information is historically a part of who we are and why we are here, the students’ reactions to and inspiration from this information reinforced this story of love, family and legacy, to reposition it from unique backgrounder to impactful messaging points—particularly as it pertains to the bridal market,” Bos said.

In others words the students were able to bring a new perspective to a timeless love story.

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Diamond Tiara from Maureen Swanson Could Fetch $235,000

Diamond tiara from the late Countess of Dudley, also known as the actress and dancer Maureen Swanson.

With the ongoing celebration of Queen Elizabeth’s Diamond Jubilee, it seems fitting that Christie’s London sale of Important Jewels on June 13 would focus on royal and aristocratic jewels.

A total of 368 lots include jewels from the collections of Princess Soraya Esfandiary Bakhtiary, Beatrice Countess of Granard OBE, and the late Countess of Dudley. Spanning four centuries, the sale has rare historic rings, diamonds and pearls. The roll call of signed jewels by the leading houses and designers includes: Boucheron, Cartier, Chaumet, Chopard, Graff and Van Cleef & Arpels.

One of the top pieces of the sale is an Art Deco diamond tiara by Cartier (pictured above) from the collection of the late Countess of Dudley, also known as the actress and dancer Maureen Swanson, with an estimate of £100,000 – £150,000 ($156,850 – $235,270). It is one of 17 jewels offered from the collection up for sale. The tiara is “composed of five graduated shield shaped clip brooches, each resembling the Pylon, the tapering monumental towers of ancient Egypt whose bold form inspired so much 1930s design,” Christie’s said. “Together, mounted atop the simple diamond line frame, these clips are transformed into a modern soaring geometric skyline, their design recalling both the architectural innovations of the era together with its inimitable style.”

The sale also will be led by the Cowdray Pearls, a rare natural pearl necklace, composed of a single row of thirty-eight graduated natural grey pearls, with an estimated price of £280,000 – £350,000 ($440,000 – $549,000). It is from the collection of the late Viscountess Cowdray, Lady Pearson (1860-1932).

Leading the small group of jewels formerly from the collection of Princess Soraya Esfandiary Bakhtiary is a 12.15 carat diamond circular single-stone ring (estimate: £70,000 – £100,000; $110,000 – $156,850). Another ring with notable provenance is an Edwardian sapphire and diamond ring, circa 1905, which was formerly in the collection of Beatrice Countess of Granard OBE (estimate: £30,000 – £40,000; $47,000 – $63,000).

A selection of 40 lots from Cartier, including jewels, cufflinks, watches and clocks, is a highlight of the auction. This portion of the sale is led by an Art Deco diamond and gem bracelet of Oriental inspiration, circa 1925 (estimate: £100,000 – £150,000; $156,850 – $235,270), and a pair of platinum and diamond ear pendants, composed of a graduated line of three brilliant-cut diamonds, suspending a pear-shaped diamond drop (estimate: £100,000 – £150,000; $156,850 – $235,270).

For information on all the lots offered in the sale, view the online catalog.

44-Ct. ‘Perfect Diamond’ Up for Auction at Christie’s

'The Perfect Diamond,' a 44.09-Carat rectangular-cut diamond ring; D-color, internally flawless clarity, Type IIa, excellent polish and excellent symmetry; Estimate on request.  Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Christie’s New York will hold its Magnificent Jewels auction on April 17 at its Rockefeller Center headquarters. The sale features more than 300 individual jewels, including top-quality diamonds, gemstones, natural pearls and signed pieces, with estimates ranging from $2,000 to $8 million. The total sale is expected to surpass $40 million.

16.33-Ct., pear-shaped diamond ring by Van Cleef & Arpels; D-color, potentially internally flawless clarity, Type IIa; Estimate, $1.85 million - $2.5 million. Photo Credit: CHRISTIE'S IMAGES LTD. 2012

The sale features no less than 10 top-quality D-color diamonds. The assortment is led by what is known as “The Perfect Diamond,” (top photo) a 44.09 carat D-color internally flawless, emerald cut diamond (estimate upon request). Christie’s says the diamond exhibits excellent polish and symmetry with no fluorescence. It is certified as a type IIa diamond, the most chemically pure classification prized for its exceptional optical clarity.

15.08-Ct. oval-cut diamond ring; F-color, internally flawless clarity, Type IIa; Estimate, $1.25 million - $1.55 million. Photo credit: CHRISTIE'S IMAGES LTD. 2012

Also among the top lots of the evening, as previously reported, are “The Clark Pink,” an extremely rare 9-carat pink diamond ring, and The Clark Diamond, a 20-carat D-color diamond ring. Both items are part of the sale from the estate of Huguette M. Clark, one of the last heiresses of America’s Gilded Age. Ms. Clark’s personal jewelry 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. The complete collection of 17 jewels is expected to fetch up to $12 million.

A Colored Diamond Necklace, by Graff; Estimate $1.5 million - $2.5 million. Photo credit: CHRISTIE'S IMAGES LTD. 2012

The sale also includes a selection of signed jewels from the Estate of Lucille E. Davison, a prominent collector, philanthropist and long-time trustee of Saint Anselm College in New Hampshire. Her jewelry collection includes more than 40 signed jewels that represent the best in modern design, including several “mystery set” jewels by Van Cleef & Arpels, and a selection of bracelets and brooches conceived by the legendary designer Jean Schlumberger for Tiffany & Co. The total collection is estimated to reach $1 million. 

Cushion-cut Colombian emerald ear pendants of 26.03 and 25.32 cts. $1 million - $1.5 million. Photo credit: CHRISTIE'S IMAGES LTD. 2012

The April 17 sale is the first jewelry auction since the record-breaking $137.2 million jewelry sale of The Collection of Elizabeth Taylor in December—which served as the final note on a record $600 million in jewelry sales worldwide for the auction house that was “shaped by continuing demand for top colored and colorless diamonds with exceptional provenance,” said Rahul Kadakia, Head of Jewelry at Christie’s New York.

View all the major sale items by following this link.

From the Estate of Lucille E. Davison, a 'Mystery-Set' ruby and diamond “Pavot” flower brooch by Van Cleef & Arpels; Estimate $60,000 – 80,000. Photo credit: CHRISTIE'S IMAGES LTD. 2012

Princess Charlene of Monaco Prefers Van Cleef & Arpels

Princess Charlene and Prince Albert unveil the Alambra display at Van Cleef  & Arpels boutique in Monaco.

Earlier this month, Princess Charlene and Prince Albert of Monaco helped to inaugurate the Van Cleef & Arpels boutique in the Principality. The occasion allowed the creator of haute joaillerie to introduce a new interpretation its iconic Alhambra motif in honor of the Princess. The necklace and earrings set is adorned with pavé diamonds and turquoises, and evokes the blue waters of Monaco, the company said in a statement.

Van Cleef & Arpels introduced the Alhambra collection in 1968. Its trademark is a setting technique that minimizes the amount of metal, thus emphasizing the diamonds. The stones are selected in different sizes to enhance their sparkle. The exclusive honeycomb open-work setting allows more light to refract into the diamonds. 

Princess Charlene wears the new Alhambra necklace at the Van Cleef & Arpels boutique.

A limited edition of 15 sets will be sold exclusively in the Monaco boutique. A portion of the sales will go to the associations and foundations that have the endorsement of Princess Charlene.

Also earlier this month, the princess wore the Océan necklace at the Monaco Red Cross Ball charity gala. The diamond and sapphire necklace, which can be transformed into a tiara, was a gift from Prince Albert to Princess Charlene following their wedding in early July. The name of the bold, glittering jewelry piece was chosen by Prince Albert. Its sparkle is reportedly the result of 1,200 precious stones that include 88 round diamonds, 10 pear-shaped diamonds and 359 sapphires.

Princess Charlene wears the Ocean necklace at the Monaco Red Cross Ball.

Van Cleef & Arpels has been the “Official Supplier” to the Principality of Monoco since 1956.

Van Cleef & Arpels Jewelry Exhibit Sets Attendance Record

  A view of “Set in Style: The Jewelry of Van Cleef & Arpels” at Cooper-Hewitt.  Photo credit: Matt Flynn, Smithsonian

They came, you saw and everyone conquered.

The exhibit, “Set in Style: The Jewelry of Van Cleef & Arpels” at the Smithsonian’s Cooper-Hewitt, National Design Museum attracted a record-breaking 172,000 visitors during its 20-week run, the Smithsonian said.

The exhibition examined the Parisian jewelry firm’s significant historical contributions to jewelry design and design innovation, particularly during the 20th century. Organized by Sarah Coffin, curator and head of the museum’s Product Design and Decorative Arts department, the exhibition featured more than 350 works, including jewels, timepieces, fashion accessories and objets d’art by Van Cleef & Arpels, many of which were created exclusively for American clientele, along with design drawings, commission books, fabrication cards and imagery from the firm’s archives. The exhibit ran from February 18 to July 4

The exhibition galleries at Cooper-Hewitt are now closed as it begins a $64 million capital project that includes enlarged and enhanced facilities for exhibitions, collections display, education programming and the National Design Library, and an increased endowment. When the museum reopens in 2013, gallery space will increase by 60 percent, the Smithsonian said in a statement. During the renovation, Cooper-Hewitt’s usual schedule of exhibitions, education programs and events will be staged at various off-site locations, including “Design with the Other 90%: Cities,” on view at the United Nations from October 15 till Jan. 9, 2012. The museum’s Arthur Ross Terrace and Garden and the Shop at Cooper-Hewitt, which will remain open this summer without an admission fee.