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This ‘Fake’ Diamond Only Cost $13 … But It’s Worth $448,000!

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Thirty years ago, a woman from west London scooped up a showy ring for £10 ($13) at a car boot sale.

Convinced that it was costume jewelry due to its low price, oversized center stone and filthy mounting, the woman cleaned it up and made it part of her day-to-day fashion wardrobe. (For Brits, a car boot sale is akin to a flea market.)INSTORE carbootsale

Now, decades later, Sotheby’s London will be putting the ring on the auction block on June 7 for a staggering pre-sale high estimate of $448,000. You see, the bauble turned out to be a 26.27-carat, antique cushion-shaped diamond that dates back to the 19th century.

“The owner would wear it out shopping, wear it day-to-day. It’s a good looking ring,” Jessica Wyndham, head of Sotheby’s London jewelry department, told the BBC. “But it was bought as a costume jewel. No one had any idea it had any intrinsic value at all. [She] enjoyed it all this time.”

Only recently, a local jeweler told the owner that the ring could be very valuable. The owner, who did not want to be identified, took the ring to Sotheby’s, which confirmed the authenticity of the diamond with a report from the Gemological Institute of America. The diamond earned an impressive clarity grade of VVS2 and an “I” color rating.

Sotheby’s believes the ring will sell in the range of $320,000 to $448,000.

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The owner had been convinced that her stone was a fake because it didn’t sparkle like a modern diamond.

“With an old style of cutting … the light doesn’t reflect back as much as it would from a modern stone cutting,” Wyndham said. “Cutters worked more with the natural shape of the crystal, to conserve as much weight rather than make it as brilliant as possible.”

Wyndham said the sale of the ring would be life-changing for the owner. She called the ring a “one-off windfall, an amazing find.”

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, [email protected]. Websites: thejewelerblog.comthejewelerblog.wordpress.com.


This article is an online extra for INSTORE Online.

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Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

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This ‘Fake’ Diamond Only Cost $13 … But It’s Worth $448,000!

mm

Published

on

Thirty years ago, a woman from west London scooped up a showy ring for £10 ($13) at a car boot sale.

Convinced that it was costume jewelry due to its low price, oversized center stone and filthy mounting, the woman cleaned it up and made it part of her day-to-day fashion wardrobe. (For Brits, a car boot sale is akin to a flea market.)INSTORE carbootsale

Now, decades later, Sotheby’s London will be putting the ring on the auction block on June 7 for a staggering pre-sale high estimate of $448,000. You see, the bauble turned out to be a 26.27-carat, antique cushion-shaped diamond that dates back to the 19th century.

“The owner would wear it out shopping, wear it day-to-day. It’s a good looking ring,” Jessica Wyndham, head of Sotheby’s London jewelry department, told the BBC. “But it was bought as a costume jewel. No one had any idea it had any intrinsic value at all. [She] enjoyed it all this time.”

Only recently, a local jeweler told the owner that the ring could be very valuable. The owner, who did not want to be identified, took the ring to Sotheby’s, which confirmed the authenticity of the diamond with a report from the Gemological Institute of America. The diamond earned an impressive clarity grade of VVS2 and an “I” color rating.

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Sotheby’s believes the ring will sell in the range of $320,000 to $448,000.

The owner had been convinced that her stone was a fake because it didn’t sparkle like a modern diamond.

“With an old style of cutting … the light doesn’t reflect back as much as it would from a modern stone cutting,” Wyndham said. “Cutters worked more with the natural shape of the crystal, to conserve as much weight rather than make it as brilliant as possible.”

Wyndham said the sale of the ring would be life-changing for the owner. She called the ring a “one-off windfall, an amazing find.”

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, [email protected]. Websites: thejewelerblog.comthejewelerblog.wordpress.com.


This article is an online extra for INSTORE Online.

Advertisement

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

Promoted Headlines

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