New!! Custom Modified X Prong Channel Diamond Setting By Vatche

This magnificent diamond ring by Vatche is actually a custom made piece (or in the case of a Vatche ring, a “Custom – Custom piece”…)that we had Vatche make for a recent customer of ours.

The ring is a combination of two of the hottest Vatche Engagement Rings; the X Prong, and Royal Crown Settings. This ring features the unique and beautiful X prong (Lucida Style) basket, and the distincly tapered shank (ring portion) of the equally famous Royal Crown ring. The result is a gorgeous ring of tremendous elegance and beauty. The addition of quality channel set round diamonds (supplied by Vatche)in a Platinum setting completes the look!!!

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In case you are wondering…the center diamond in this ring is a 1.11 H VS2 SuperbCert Signature Diamond!!

I think the beauty of this ring is that many people have shown a preference for the tapered shank of the Royal Crown but still prefer the distinctive look of the X Prong basket. Here, you have the ability to mix and match to suit your own taste!

We will be putting this ring up for sale on our website shortly!

Henry Grossbard

Master diamond cutter Henry Grossbard, innovator of the Radiant Cut, died after being struck by a hit-and-run driver in Hoboken, New Jersey, on April 23 around 10:30 p.m.

The 79-year-old Grossbard was strolling with his family dog in the suburb of New York City at the time of the accident. Hoboken police Sergeant Costello told Rapaport News that there were a couple of eye witnesses, but the agency continues to seek more information. Grossbard was struck at 3rd Street and Sinatra Drive by what is believed to be a late-model Honda Odyssey. The mini-van is light color, perhaps silver or light green, and is likely to have front-end damage and perhaps a broken windshield Costello said.

“Whoever did this and left the scene, the fact that it is a mini-van leads us to believe” the automobile is used for transporting children to school or general household shopping chores, Costello said. Anyone with information should contact the Hoboken police detective bureau at 201.420.2110.

Grossbard was known worldwide for the Radiant Cut, and he received worldwide patents for the Radiant Cut design in 1977, among the first patents ever granted for a diamond cut.

“Extremely Thin” Girdles In Princess Cuts: Cause for Concern?

Current conventional wisdom and advice to consumers is to stay away from diamonds that display ‘extremely thin’ (ET) girdles. The rationale is that such girdles may be more susceptible to chipping or breaking compared to girdles that are classified as ‘slightly thin’ and greater.

In our opinion, this needs to be placed in proper context. ET girdles need to be seen and evaluated within the total view of the diamond’s entire girdle. In many cases an ET still will have enough bandwidth so as to not pose any danger to the diamonds structure or foundation. Furthermore a designation of ET may only refer to one or two spots along the girdle’s continuum and such designation applied only in reference to the girdle width of the rest of the diamond.

Attached is an example of a Princess Cut that GIA has evaluated as having an ET girdle. Note that this girdle side still has sufficient “meat” on it so that it poses no danger to the stone; but in relation to the adjacent very thick girdle it can be classified as an ET girdle.

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Our advice is to work with vendors that either have the diamond in stock or can call it in for a personal evaluation.

Diamond Engagement Proposals May Require a Pre-Nup-Nup!

Hey guys! Wanna get engaged? Wanna make sure she says YES!!

Before you speak to her Pop and get down on bended knee, you may want to get it in Writing.

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That’s because a jilted lover wants back the engagement ring that he gave his fiancée? William Christopher Thompson filed in Santa Fe County court (New Mexico) to do just that. Thompson served his bride-to-be, Rodina Lucero, a chocolate cake with the ring embedded.

Lucero accepted at first, which according to court papers was the second time, but the following day she broke-off the engagement and refused to return the 18-karat gold 1.5 carat Marquise diamond ring.

Thompson’s attorney, Ernest L. Padilla, wrote that Lucero accepted the engagement ring under false pretenses in an effort to defraud Thompson of the ring. Padilla argues that the ring was a conditional gift and in order to keep the ring Lucero must marry first.

Thompson is asking the court to award him the return of the ring or ask Lucero for the ring’s fair market value.

He’s from Mars; she’s from Venus. Or is it the other way around?

Diamond Auction At Sotheby’s Is Strong.

Diamonds moved briskly and with very strong prices at Sotheby’s New York spring sale of Magnificent Jewels. The trade and privates snatched up the gems as fast as they came on the block.

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Items Auctioned yesterday at Sotheby’s.
The sale totaled $13,337,300 against a presale estimate of $12,836,400. A 3.12-carat fancy intense blue diamond was the top lot selling to an anonymous member of the international trade for $956,800 against an estimate of $450,000 to $550,000. Several dealers mentioned that while the pear-shaped stone is beautiful as is, there is potential to recut it and improve the color.

The highly touted .90-point round fancy intense green diamond sold for $296,000 to an Asian private. Most of the action at this sale took place over the phone. Bidding — which came from around the world — was light and buyers won the goods quickly.

Rounding out the sale was a healthy selection of signed and period jewelry with David Webb pieces making a strong showing. Sapphires were also of great interest bringing top prices for exceptional material.

50 Carat D Flawless Diamond Sold at 4 Million!

A standing room only crowd at Christie’s New York sale of Magnificent Jewels was hushed as dueling bidders vied for a 50.01 D flawless diamond ring.

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This 50 carat D Flawless could have been yours for 4 mil!!

The rectangular-cut prize by Graff was the top lot of the evening selling for $4,216,000 (all prices include buyers premium.) It was bought back by Graff the London-based retailer who over the years has offered some of the world’s most important diamonds for sale. He declared the gem “a masterpiece.” The sale total of — $31,747,840 — was the highest seen over the past few years at a New York auction.

Also boosting the bottom line was the sale of an 8.01 carat oval-cut Burmese ruby, which sold to an Asian Private after heated bidding on the phones for $2,200,000, setting a world auction record price for a ruby of $274,656 per carat.

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Burmese Ruby for 2.2 million! And you thought filling up your gas tank was expensive!

Buyers participated from around the globe with private collectors bidding aggressively on signed jewels, sending prices into the stratosphere.

Diamond prices were strong with several D Flawless stones moving briskly, contrary to the trend of the past few years when those gems sat untouched. Colored gemstones — also traditionally slow movers at auction — were the focus of intense bidding during the sale.

While privates were in the thick of the bidding action, this was the first sale in some time that saw the trade dominating the top ten lots; only three of the 10 sold to privates. The sale’s success was fueled by the soft dollar, a strong selection of signed jewels and diamonds that were consigned at reasonable prices.

Diamond Prices Going Up-Again!

So what else is new?

De Beers is considering an increase in its rough diamond prices in the course of this year.

The Sunday Times in South Africa quoted De Beers managing director, Gary Ralfe, as saying that the scope for an increase in rough prices existed as there was no large increase in diamond supply at the global level.

To meet anticipated growth in demand for diamonds, De Beers needed to produce more carats and this would be the focus of its strategy for the upcoming five years.

Bet on several increases this year, folks, and corresponding increases in the cost of polished diamonds.

Gold Production Down in South Africa.

South Africa’s gold production fell by 8.8 percent to 342.7 tons in 2004, the lowest level of gold production since 1931 according to the Chamber of Mines of South Africa.

The drop in production was in part caused by the falling dollar (against South Africa’s rand,) and by the continued rise in mining costs, which are paid in rand, and to aging mines.

Despite the spot gold price rising 12.6 percent to $409 per ounce in 2004, the 14.7 percent appreciation of the rand boosted the currency ahead of rising gold prices as they fell by 3.8 percent. The rand gold price had already fallen a notable 15.8 percent in 2003 compared with 2002.

Further complicating gold mining was an 18 percent increase in water fees, a 30 percent higher cost of steel used at the mines, and freight tariffs rose 51 percent from 2002.

Reduced Gold production should put upward pressure on prices as demand is increasing. Current Gold price is $429.55, having hit a high earlier this year 0f $441.00. The weak dollar and rising oil prices will continue to bolster Gold and serve to increase prices.