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The Truth About Melania Trump’s $1.5M Engagement Ring

Did Donald Trump really get a discount on the 15-carat diamond?

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President Donald Trump has long claimed he didn’t pay full price for First Lady Melania Trump’s 15-carat diamond engagement ring.

He told The New York Times in 2005 that he got a large discount on the $1.5 million ring. (It’s not quite clear whether $1.5 million was the original price or the claimed discount price.)

At the time, Trump was quoted saying: “Only a fool would say, ‘No thank you, I want to pay a million dollars more for a diamond.'” The anecdote was part of a report on vendors offering up goods for publicity purposes.

But Laurence Graff, chairman of Graff Diamond, says he didn’t provide any discount, the International Business Times reports. Another source said Donald Trump paid for the ring on the spot, according to the news outlet.

In this video you can see Melania Trump showing off her engagement ring at the Met Gala in 2004.

Tobias Kormind of 77Diamonds.com was quoted saying the engagement ring would likely sell for $3 million today.

A few years ago, for their 10th anniversary, Trump gave his wife another ring with a larger diamond. That ring is likely worth $3.5 million, Kormind told Express.

Read more at the International Business Times

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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Louis Vuitton to Sell Jewelry Made From World’s Second-Largest Diamond

The deal follows LVMH’s acquisition of Tiffany & Co.

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LVMH Sewelo Diamon

LVMH Moet Hennessy Louis Vuitton SE has entered a deal to sell jewelry made from the world’s second-largest diamond, known as the Sewelo diamond.

It’s a 1,758 carat gem that’s the size of a tennis ball.

Lucara Diamond Corp. announced a deal with LVMH and the HB Co., a diamond manufacturer from Antwerp, that will see the diamond cut into pieces and made into Louis Vuitton jewelry.

Bloomberg reports that LVMH “will likely create several extremely high-end pieces  to establish a sense of exclusivity.”

A price tag for the Sewelo has not been revealed. Yahoo Finance notes that it sold for $53 million in 2017.

The acquisition is further evidence of LVMH’s plans to grow its jewelry business, according to Bloomberg. It follows the company’s nearly $16 billion acquisition of Tiffany & Co.

The diamond was recovered from Lucara’s Karowe Diamond Mine in Botswana in April 2019.

According to a press release from Lucara:

Lucara will receive an up front non-material payment for the Sewelô and retain a 50% interest in the individual polished diamonds that result.

Further, 5% of all of the retail sales proceeds generated from this historic collection will be invested directly back into Botswana on community-based initiatives undertaken by Lucara.

Lucara CEO Eira Thomas said, “We are delighted to be partnering with Louis Vuitton, the famous luxury House, to transform the historic, 1,758 carat Sewelô, Botswana’s largest diamond, into a collection of fine jewellery that will commemorate this extraordinary discovery and contribute direct benefits to our local communities of interest in Botswana.”

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Karma Hits Hard as Bungling Thieves Lock Themselves in Jewelry Store During Robbery (Video)

A judge called the crime a ‘fiasco.’

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Security footage of a jewelry story robbery described as a “fiasco,” with the thieves briefly locking themselves in the business, is making the rounds on social media.

The bungling robbers struck the Ital Gold shop in Green Lanes, Haringey, north London, the BBC reports. The crime took place in April, but the video surfaced recently when Andrew Elliott, 32, was sentenced to seven years in prison for the robbery.

A store worker “was held in a headlock and dragged to the floor,” according to the BBC. She broke free and ran away, hitting a panic alarm and then hiding in the bathroom.

Footage of the heist has accumulated 1.3 million views on Twitter, Today.com reports.

In the clip, the suspects tried to flee but realized they were trapped, as the door wouldn’t open from the inside. One of the suspects thought to hit the “catch and release” button, according to Today.com. The thieves then repeatedly failed to hold the door for each other.

In sentencing Elliott, Judge Mark Dennis QC said, “This was a planned and organized robbery, however much of a fiasco the latter part of it turned out to be,” according to the BBC.

The three still managed to make off with $27,000 in jewelry. The other two suspects have yet to be identified.

Watch the BBC’s clip:

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Signet Stock Soars to Best Day in 27 Years Following Strong Holiday Results

Digital sales led the way.

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Signet Kay Jewelers

Signet Jewelers Ltd.’s share price soared on Thursday in the wake of strong holiday sales.

The stock saw it’s largest single-day gain in 27 years, climbing more than 40 percent, MarketWatch reports. It closed at $30.13 per share.

Signet (NYSE: SIG) on Dec. 5 predicted that same-store sales for its fourth-quarter, which ends in January, would be down between 2 percent and 4 percent compared to the same period a year ago.

But strong holiday sales prompted the retailer, whose brands include Jared, Kay Jewelers and Zales, to raise its guidance. It’s now predicting that same-store sales for the quarter will be up 0.1 percent.

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Digital sales have been particularly strong. For the nine weeks ending Jan. 4, they were up 13.5 percent compared with the same period a year ago. Brick-and-mortar sales were down 0.2 percent.

“Product newness, investments in our digital capabilities, and more targeted marketing campaigns drove both e-commerce and brick and mortar growth in North America,” Signet CEO Virginia Drosos was quoted saying.

Read more at the MarketWatch

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