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‘Perfect’ 88-Carat Diamond Goes Up for Auction

It will headline the Hong Kong Sale of Magnificent Jewels and Jadeite.

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Described by Sotheby’s as “perfect according to every critical criterion,” this 88.22-carat oval diamond will headline the auction house’s Hong Kong Sale of Magnificent Jewels and Jadeite on April 2.

The D-Flawless diamond is expected to fetch between $11.2 million and $12.7 million, a value reflecting its extreme rarity. Sotheby’s reports that only three oval diamonds larger than 50 carats have appeared at auction over the past few decades.

The 88.22-carat faceted diamond was cut from a 242-carat rough stone discovered at the Jwaneng mine in Botswana. The mine, which is well know for producing high-quality diamonds, is jointly owned by De Beers and the government of Botswana.According to Sotheby’s, the rough diamond was cut and polished over a period of “intense months” to produce a symmetrical and striking oval brilliant diamond. Given the elongated shape of the rough stone, the oval shape was chosen to preserve the greatest amount of weight.

The double-eights in the carat weight will hold extra significance to buyers of Asian heritage. Eight is considered a lucky number, and “88” is believed to bring good fortune in abundance.

The star of Sotheby’s upcoming event was rated Type IIa, the most chemically pure classification. Diamonds of this quality display exceptional optical transparency and make up less than 2% of all gem-quality diamonds.

“When you think that one ton of mined earth yields less than a carat of diamond, and that high-quality diamonds over 10 carats are a rarity, the discovery of a 242-carat rough, of gem quality and exceptional size, is nothing short of a miracle,” noted Patti Wong, Chairman of Sotheby’s Asia.

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Wong added that the perfect 88.22-carat diamond is a “summary of everything: A wonder of nature, a masterpiece resulting from man’s ability to shape the hardest material on earth into an object of ultimate beauty and the most concentrated form of wealth, as stated by Pliny the Elder almost 2,000 years ago.”

David Bennett, Worldwide Chairman of Sotheby’s International Jewelry Division, said that one adjective came to mind when he viewed the stone for the first time.“Breathtaking,” he said. “Barely any diamonds of this weight are known to possess the same exceptional qualities of purity and perfection as this remarkable stone which is so full of fire and blinding brilliance.”

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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Burglars Are Cutting Jewelry Stores’ Power Lines to Disable Alarms

It’s happened more than 30 times across the country.

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The Jewelers’ Security Alliance reports that there’s been a nationwide pattern of burglars cutting jewelry stores’ power lines in order to disable alarm systems.

On April 17, JSA issued a crime alert on the burglary of a Laguna Niguel, CA, jewelry store in which the power lines were cut. Burglars came through the roof, cut into a safe and took a large amount of merchandise.

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JSA has now received reports of over 30 cases in which burglars have cut the power lines. It’s happened in Florida, Colorado, California, Indiana, Idaho, Illinois and Utah, as well as in Canada.

The burglars cut the power lines soon after a store has closed for the night, then wait nearby to see the response by the owner or police, according to JSA.

The burglars have not carried out safe burglaries at all of the stores.

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“After cutting the wires, the burglars watch and wait,” JSA stated. “If the burglars feel safe after having witnessed the owner or police response or lack of response to the cut wires, they will break into the store, often by cutting through the roof or sidewall.

“They will then attack the safe, usually cutting into it, and sometimes torching it.”

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Jewelry Chain Looks to Build $13M Headquarters

It will employ about 100 people.

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James Avery, a Texas-based manufacturer that operates 88 stores, is looking to open a second headquarters at a cost of $13 million.

The facility would be located in Cedar Park, TX, KXAN-TV and the Austin Business Journal report.

James Avery Craftsman Inc. is seeking more than $500,000 in economic incentives for the project.

As part of the agreement, the headquarters would need to have a payroll of about $4.9 million by 2025. It would also need to consist of at least 35,000 square feet.

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The Business Journal reports that the facility would have more than 100 employees.

Kerrville-based James Avery, known in part for its Christian-themed jewelry, is particularly popular in its home state of Texas, where it operates 80 stores.

Read more at KXAN-TV

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Video: 3 Millennial Couples Reveal Their True Thoughts On Lab-Grown Diamonds

MVI Marketing has released a new video.

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MVI Marketing has released a new video in which three millennial couples reveal what they think about lab-grown diamonds.

The couples interviewed by MV Eye are all actively shopping for engagement rings.

In the video, which is under three minutes long, they’re asked about topics such as their budget, their shopping preferences and their views on lab-grown diamonds.

Watch the video:


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