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100-Year Anniversary of ‘Most Iconic’ Diamond Cut Celebrated

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It maximizes fire, brilliance and sparkle.

Exactly 100 years ago, a 19-year-old Antwerp engineer named Marcel Tolkowsky perfected a mathematical formula for the 57-facet “brilliant-cut” diamond. Tolkowsky’s accomplishment prevails as the most iconic and successful cut in history due to its ability to maximize a diamond’s fire, brilliance and sparkle.

The Antwerp World Diamond Centre recently held a street fair and ceremonial diamond cutting to honor Tolkowsky and the 100th anniversary.

“In 1919, my uncle Marcel unlocked the secret of light within a diamond,” said Gabi Tolkowsky, one of the world’s most renowned diamond cutters. “He figured out how to get the greatest amount of light to shine out of a diamond, calculating the number and arrangement of facets to maximize the light return. This was Marcel’s gift to the world, perfecting the journey of light, giving all those who came after him the knowledge of how to turn a diamond into a unique beauty.”

Marcel Tolkowsky proved that if a diamond was cut too deep or too shallow, the light coming down from the top would escape out the sides or bottom, resulting in a loss of brilliance. His solution: 57 precisely placed facets cut to exacting proportions so the light coming into a diamond is refracted up through the table and crown to the viewer’s eye.

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During the celebration, the AWDC launched its unique “100 Years Brilliant” project, during which 57 well-know (and lesser known) Antwerp residents were invited to polish a single diamond — one person for each facet of a brilliant.

“In this way, ‘t Steentje – which is how the diamond industry is referred to in the local vernacular – will represent the multicultural character and diversity of the Antwerp diamond industry,” explained AWDC CEO Ari Epstein.

Once the stone is finished, it will be exhibited in Antwerp’s DIVA diamond museum.

The first facet was polished by guest of honor Gabi Tolkowsky, who famously spent three years cutting the 273.85-carat Centenary Diamond.

The second facet of the stone was polished by Constantinus ‘Stan’ Hunselmans, who shares his birth year with the brilliant.

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“I celebrated my 100th birthday on January 14, and it is an honor that I was chosen,” Hunselmans said. “It went really well. If I were a little bit younger, I might have considered a career switch.”

Since 1447, Antwerp has laid claim to the title of the “World’s Diamond Capital.” It should come as no surprise that Tolkowsky’s brilliant cut was developed in this city.

Credit: Image courtesy of Petragems [CC BY-SA 4.0], via Wikimedia Commons. Diamond proportions graphics by Jasper Paulsen CC BY-SA 3.0, via Wikimedia Commons.

Howard Cohen is the Shoreham, NY-based editor of The Jeweler Blog, a daily blog ghost-written for retail jewelers. Cohen, a long-time industry veteran, is dedicated to making social media tasks simple and affordable for every jeweler. For more information, visit thejewelerblog.com or contact Cohen at 631-821- 8867, hscohen60@gmail.com. Websites: thejewelerblog.com, thejewelerblog.wordpress.com.

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Jewelry Wholesaler Files for Bankruptcy

It has millions in outstanding debt.

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Tara Jewels LLC, a wholesaler based in New York, has filed for Chapter 11 bankruptcy protection.

Its parent company, Tara Jewels Holdings, Rapaport News reports.

Each company lists between $10 million and $50 million in outstanding debt.

In its June 21 filing, Tara Jewels states that it has between $500,000 and $1 million in assets. Tara Jewels Holdings states that it has up to $50,000 in assets.

The companies are part of Tara Jewels Ltd., which is based in India.

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Tara Jewels Holdings established its first U.S. diamond and gemstone wholesale jewelry division in 2006 by partnering with M. Fabrikant & Sons Inc. to form Fabrikant-Tara International.

The case was filed in U.S. Bankruptcy Court for the Southern District of New York (Manhattan).

Read more at Rapaport News

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NFL Player Awarded $6.1M in Jewelry Fraud Lawsuit

The jeweler says he’ll appeal.

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Drew Brees, quarterback for the NFL’s New Orleans Saints, has won $6.1 million in damages from a jeweler he claims sold him diamonds at grossly inflated prices.

Drew Brees

In a jury trial in San Diego, Drees said he bought $15 million in diamonds from Vahid Moradi and CJ Charles Jewelers over a four-year period ending in 2016, The Advocate reports. He said he’d become friends with Moradi and trusted him completely.

Brees said he and his wife, Brittany, were then told by an appraiser that they’ve overpaid by about $7 million.

The Breeses alleged fraud and breach of contract, as well as violation of California business law, according to The Advocate.

Moradi and his lawyer, Kevin Rooney, said they plan to appeal the jury’s decision. They said they “passionately disagree” with the verdict.

Moradi said he sold jewelry to the Breeses at a normal retail markup.

Read more at The Advocate

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Online Diamond Seller Files for Bankruptcy

Dozens of individuals and businesses are reportedly owed money.

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Enchanted Diamonds, a Manhattan-based diamond dealer, has filed for bankruptcy, the New York Daily News reports.

The company, which sells its products online, owes $1.8 million, according to the newspaper.

Much of the debt is to customers who claim they paid the company and didn’t receive their gems.

A filing in federal bankruptcy court indicates that the firm owes money to dozens of individuals and business entities across the U.S. and in other regions, including Asia.

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More than 50 customers are “pursuing restitution through a law firm hired by Rare Carat, an online aggregator for jewelers,” according to the Daily News.

Joshua Niamehr, president of Enchanted Gems, did not respond to a request for comment on Friday, according to the newspaper.

Read more at the New York Daily News

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