Knock Knock! Gold at new five year low and this is the time to buy your desired piece of jewelry

Gold along with Silver and Platinum are trading multiyear lows while we are writing this article. And we always see this as an opportunity for our customers to come by our stores and buy what they have either been planning or have desired to have.

Gold hit its lowest level since February 2010, after a low of $1088 an ounce yellow metal recovered a bit and was trading at $1105 an ounce.

Platinum was even worst hit and sunk below $1000, its lowest in the last six years. Reason sited for this is a perception that supply was increasing while demand was low. At day’s end it was traded at $980.

Silver was trading at $14.83 which is the lowest price for silver in the last six years. Silver seems to have been affected in general by the weakness of precious metal and commodities.

We are looking forward to seeing you at our store. We have a huge selection of bridal rings, engagement rings, earrings, pendants etc.

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Company Claims to Have Produced 5 Carat Synthetic Diamond

A Russian laboratory-grown diamond manufacturer, New Diamond Technology, is claiming it has produced a 5.11-ct diamond, the largest man-made, polished, near-colorless stone ever produced.

Synthetic-diamondAccording to the manufacturer, the unenhanced radiant-cut type ‘IIa’ diamond, produced by the high-pressure, high temperature method (HPHT) bears a K SI grade but hasn’t yet been sent to a lab.

This process is called Microwave Plasma Chemical Vapor Deposition, where carbon atoms are layered on top of an initial diamond ‘seed,’ fast-tracking a natural process lasting many millennia to a matter of months. And because these stones are lab-made, they’re good for the environment and are free of the ‘blood diamonds’ stigma that’s so tainted their traditionally-mined counterparts.

Diamond Experts familiar with diamond growing, say that it is an impressive achievement, but wondered whether it could be repeatable and also questioned what the stone would fetch commercially.

New Diamond Technology says it has a “new approach” that allows it to produce lab-grown gems with higher colors and clarity from its factories in Russia and Hong Kong. It said that it can produce gems ranging from 4 to 11 carats.

Company President Tamazi Khikhinashvili says that their diamonds are “more affordable” as compared to natural diamonds. He says the company has sold lab-grown gems to customers in Europe, Asia, and the United States.

Elizabeth Taylor’s Trust Sues Christie’s

Elizabeth Taylor’s estate is suing Christie’s, the auction house, over the $8.8 sale of the “TajMahal” diamond, a gift to the late actress from Richard Burton on her 40th birthday.

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The TajMahal diamond was sold by Christie’s along with the rest of Taylor’s jewels and wardrobe in New York following her death in 2011. The collection, which was dubbed the “Crown Jewels of Hollywood,” broke all expectations and brought in $183.5 million to benefit the Elizabeth Taylor AIDS Foundation.

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But the trustees of her estate have now filed a complaint alleging breach of contract. They claim the anonymous buyer of the TajMahal diamond returned it months after determining that it actually does not belong to the wife of a 17th century Mughal emperor.

According to the complaint auction house had only stated that the diamond was of Indian origin, but it still agreed to cancel the sale. Christie’s then requested that the estate return the proceeds of the sale.

Christie’s violated its own policies when it rescinded the sale, the trustee’s complaint states. “Despite facing no credible threat of legal liability, Christie’s nonetheless rescinded the sale of the diamond. In doing so, Christie’s not only deviated from its usual business practices and its own established policies, but it violated its obligations to the trust, all in an effort to appease the buyer.”

Taylor’s trustees claimed the auction house also refused to pass on $3 million from the sale of another gem called the Bulgari Ring.They said: “(Christie’s) failed to pay the trust the proceeds from the sale of the Bulgari ring in an attempt to strong arm the trust into returning the proceeds that the trust rightfully received from the sale of the TajMahal diamond.”

In a statement Christie’s said: “Christie’s was pleased to create a landmark auction event on behalf of the Elizabeth Taylor Trust that produced over $183.5 million in proceeds for the beneficiaries of the trust – the friends and family of Elizabeth Taylor.This suit stems from Christie’s seeking the return of a small portion of these proceeds due to the cancellation of a single item from that sale, and Christie’s looks forward to a speedy resolution of this matter.”

California man pays $4.8M for 26 cents from 1792

Kevin Lipton submitted a winning bid of $2,585,000 mid-January for the 1792 penny, one of about only 10 coins that were “experimentally produced” after the U.S. Mint was established.

Lipton, who owns a coin wholesaling business in Beverly Hills,was searching for the penny, called a Birch Cent, since he saw one in 1981 at a New York auction house. The coin was bought by a developer for a mere $200,000.

“It’s like our very first penny,” Lipton said. “It’s such a spectacular coin. It’s so important, so rare.”

The piece features a profile of a female face encircled by the words “Liberty Parent of Science and Industry.” The other side says, “United States of America” and shows the denomination of “One Cent” within a wreath. At the bottom is the fraction “1/100.”

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According to the Reporters, Lipton’s bid is the most money ever paid for a one-cent coin. “They are a great store value, and will only be worth more in the future,” He said about his purchase. “They are literally Mona Lisas of our coinage.”

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Lipton’s 1792 “Wright Quarter” is special because it’s America’s first quarter and because the only other example known to exist is in the Smithsonian. It features a beautifully executed profile of a woman with the word “Liberty” written atop and the date below. The reverse side has an eagle standing on a globe with the words “United States of America” surrounding it. The coin was designed by Joseph Wright only one year before his death.

Inspiring Jewels worn by First-Lady

Jewelry worn by famous peoples has always been mesmerizing. So this time in honor of President’s Day that we celebrated recently, we thought why not come up with jewels worn by first ladies of past and present. After all we all can take a few lessons in style, or at the very least marvel at.

Jacqueline Kennedy’s custom pearl necklace, designed by Kenneth Jay Lane

Jacqueline Kennedy’s custom pearl necklace, designed by Kenneth Jay Lane

Barbara Bush’s signature costume pearls, purse designed by Judith Leiber

Barbara Bush’s signature costume pearls, purse designed by Judith Leiber

Stock up on those pearls, you can always count on the classics.—Mother’s Day is coming!

Mary Todd Lincoln’s enameled gold bracelet watch

Mary Todd Lincoln’s enameled gold bracelet watch

 

Edith Roosevelt’s Harry Winston diamond necklace

Edith Roosevelt’s Harry Winston diamond necklace

A copy of Mrs. Roosevelt’s flowery diamond statement necklace is on display (both the original and reproduction made by Harry Winston)

Michelle Obama’s inaugural ball jewelry suite, designed by Loree Rodkin

There was something to please everyone, and most definitely a jewel or two (or three) to lust after. Stock up on those designs. We don’t have it in stock but we can definitely make a similar jewelry for you. Visit us today.