19.51-Carat Harry Winston Diamond Ring May Fetch $1.8 Million

A Harry Winston platinum ring centered with an emerald-cut 19.51-carat diamond will be one of the top items being offered at Sotheby’s New York Important Jewels auction on September 24.

The ring, flanked by two triangle-shaped diamonds weighing 2.92 carats, has a pre-auction estimate of $1.2 - $1.8 million. It is from the family of George Rothman, the successful real estate developer and philanthropist who created the Rothman Foundation. It is the top lot among a collection of jewelry the family has put on sale that include pieces by Bulgari, David Webb and Van Cleef & Arpels.

The Harry Winston ring is one of three such rings that have high estimates of more than $1 million at the upcoming sale. The others are:

* A pear-shaped diamond weighing 15.10 carats, flanked by two smaller pear-shaped diamonds weighing approximately 2 carats will also appear in the sale with an estimate of $1.25 million - $1.75 million. The ownership is identified by the auction house as being from a New York estate.

* A 9.77-carat, cut-cornered rectangular step-cut diamond accented by small round diamonds weighing approximately 0.70 carat, and mounted on platinum. The ring, which is identified as the property of a lady from Texas, has an estimate of $800,000 to $1.2 million. 

Fancy colored diamonds have made their mark in recent years on the auction market and Sotheby’s leader in this category for the upcoming auction is a 1.08-carat pear-shaped fancy vivid blue diamond (pictured above), on a platinum mounting accented by round near colorless diamonds. This item has an estimate of $450,000 - $650,000.

The upcoming auction will also feature several pieces from the collection of Alex & Elisabeth Lewyt, featuring custom-designed and period pieces by French jewelers such as Schlumberger, Suzanne Belperron and René Boivin. Items of note from the Lewyt collection include:

* A platinum, palladium and diamond triple-band cuff-bracelet by Belperron (pictured above). It was worn by Elisabeth Lewyt on her wedding day. The bracelet has three tapered rows set with 75 old mine-cut diamonds weighing approximately 16.95 carats. It has an estimate of $40,000 to $60,000. 

* An 18k yellow gold reclining Labrador retriever brooch by René Boivin (pictured above). The torso, ears, paws and tail of the dog are set with numerous round and single-cut diamonds of near colorless, brown and yellow hues weighing approximately 28.95 carats. The collar is set with 19 buff-topped rubies. The eyes are made of two cabochon citrines and the nose and pads on the back paws are accented by a blackened gold. Its estimate is $70,000 - $90,000.

* A platinum and diamond double-clip pendant-brooch by Schlumberger, set with marquise-shaped diamonds weighing 5.22 and 5.28 carats, both E color, VS1 clarity; estimate $200,00 - $300,000.

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10.6-Carat Fancy Blue Diamond Has an Asking Price of $9.8 Million

The "Royal Blue" diamond

A 10.6-carat fancy blue diamond known as the “Royal Blue” is available through M.S. Rau Antiques in New Orleans. The asking price is $9.8 million.
 
Blue diamonds are among the rarest in the world so it seems unusual that this cut-corned, modified brilliant cut gem is the second significant blue diamond to appear on sale in August. A week earlier, Sotheby’s Hong Kong announced that it is offering a 7.59-carat round fancy vivid blue diamond that is estimated to fetch $19 million.

This stone has a VVS1 clarity grade, notable for having “very, very slight” inclusions, according to the report from the Gemological Institute of America. It is one step away from being graded as “internally flawless” under the GIA scale. The chemical that creates the blue in diamonds is boron, which this gem has.

The diamond is set on a platinum and rose gold ring surrounded by vivid pink and colorless diamonds.

Fewer than 0.3 percent of all colored diamonds graded by GIA were predominately blue. Gem expert and dealer Robert Procop, also the co-designer of Style of Jolie jewels with Angelina Jolie, knows as much as anyone when it comes to the rarity and historical significance of these gems.

“Blue diamonds are rarely discovered and only a few have been found over centuries of mining, making it one of the rarest gems of the world,” he said. “(They) have also been the most gifted by royalty and historical figures making them the most mysterious and precious of jewels. I rarely see a blue diamond that I do not admire.”

Large fancy blue diamonds have been sold for record-breaking figures at auctions and other sales, several have had illustrious provenance through its mine origins and ownership throughout centuries. The most famous blue is the Hope Diamond, last purchased by famed luxury jeweler, Harry Winston, who donated it to the Smithsonian National Museum of Natural History in 1958.

The asking price for the “Royal Blue” ring is more than $924,500 per carat, which seems a bit steep, particularly since it has no known provenance. However, it is only about half of the per-carat price of a 5.30 blue diamond purchased by another famed jeweler, Laurence Graff, at a Bonhams auction in London in April 2013. The final price was $9.6 million or $1.8 million per carat.

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Swatch Group Sees Strong Growth Potential For Harry Winston

The Harry Winston salon in Paris.

The Swatch Group has big plans for the recently acquired Harry Winston brand, finding it an asset that is both complimentary and with plenty of room for growth.

The Swiss conglomerate on Tuesday for the first time partly revealed what it plans for the luxury retail brand during its earnings report for the first half of the year. The company, which now owns 20 watch and jewelry brand, said that gross sales for the period increased 8.7% year-over-year to 4.18 billion Swiss francs ($4.47 billion). Net income increased 6.1% compared to the first half of 2012 to 768 million Swiss franc ($821,700), with a 19.2% return on net sales. Sustained growth was reported in all regions.

“The continued integration of the Harry Winston brand will … make a significant contribution, as this brand has huge, almost untapped market potential in the high jewelry and watches activities,” the company said, adding that this potential will start to be seen in the second half of the fiscal year.

Swatch Group said that following its $1 billion acquisition of Harry Winston in March, the conglomerate invested in infrastructure, settled all debts, expanded its equity capital base and increase inventory. “The latter was initiated in order to ensure that our clientele has access to the best selection of jewelry as well as to increase its availability,” Swatch Group said in its earnings statement.

“The acquisition of the Harry Winston brand did more than simply round off the group’s already broad brand portfolio; it also expanded the high jewelry segment, along with the segment’s value chain from production up to and including the retail network,” Swatch added.

In May, Swatch Group, in Harry Winston’s name, purchased a 101.73-carat diamond at auction for $26.7 million and renamed it the “Winston Legacy,” explaining that it “reconfirms the number one position of this high jewelry brand.”

Swatch says that its see the luxury watch segment of the brand as having the best potential for worldwide growth.

“The Harry Winston brand has an extremely large and almost untapped potential in the watch sector, which the group now aims to expand further using its experience around the world,” the company said. “The necessary funds will also be invested into this activity.”

In fact, the acquisition led to some company restructuring by integrating the production division into the watches and jewelry business unit. “This integration will also provide a more uniform view of activities, facilitating comparability with our competitors.”

Other highlights of the company’s first-half report include:

• Benchmarked to the 1.5% export growth for wristwatches of the Swiss watch industry in the first half of 2013, the segment Watches & Jewelry (now including production) growth was more than 9%.

• An operating profit of 910 million Swiss francs ($973,500) was recorded, with an operating margin of 22.7%, despite a high marketing spend, important investments in products and production methods, and the integration of Harry Winston.

The company said its outlook “remains very promising,” expecting a strong second half. 

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Harry Winston and Swatch Group Pay $26.7 Million for 101-Ct. ‘Perfect Diamond’

The Swatch Group and HarryWinston are celebrating their new partnership with the purchase of a pear-shaped, D color, flawless diamond of 101.73 carats for more than $26.7 million at Christie’s Geneva Magnificent Jewels Sale Wednesday.

Billed by the auction house as the “perfect diamond,” the price paid set a world auction record for a colorless diamond. The diamond (which sold for $254,400 per carat) has been renamed “The Winston Legacy.”

“The acquisition of ‘Winston's Legacy’ underscores the brand’s continued commitment to perfection and quality at the highest level. A stone of this caliber and rarity is the perfect continuation of Mr. Winston’s legacy as the King of Diamonds,” said Nayla Hayek, the new CEO of Harry Winston.

Rahul Kadakia, head of Jewelry, Christie's Switzerland and Americas, added: “Harry Winston acquired the most perfect diamond ever offered for sale at auction, ‘Winston Legacy,’ continuing the tradition of buying and selling only the very best, a trait of the founder Mr. Winston himself.”

The diamond was the top lot in a sale that fetched a record-breaking $102.1 million, selling 86% by lot and 93% by value, the highest result ever for a various-owner jewelry auction at Christie’s. It included several world records for diamonds, pearls and sapphires. A total of 20 lots sold above $1 million with 147 buyers coming from 31 countries across five continents, Christie’s said.

Among the other notable purchases at Christie’s Geneva Magnificent Jewels Sale, are:

* 19.88-carat cushion-shaped Kashmir sapphire, named “The Star of Kashmir” sold for more than $3.4 million, or $175,202 per carat, breaking the world auction record for a per-carat sale of a sapphire.

* Single strand of natural pearls measuring from 13.7 to 10.4mm sold for more $8.4 million, setting a world auction record for a single-strand natural pearl necklace.

Drop-shaped natural pearl ear pendants of 261.66 and 216.37 grains sold for more than $2.4 million, setting a world auction record for a pair of pearl ear pendants.

* 1.92-carat fancy red diamond sold for $3.2 million, setting a world auction price for a red diamond.

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The Swatch Group Brands at Baselworld 2013 (including Harry Winston)

Harry Winston Opus XIII

The powerful presence of the Swatch Group was present like never before at Baselworld 2013, taking up a larger chunk of the renovated Hall 1.0, the most prestigious area at the show for the majority of its 19 watch brands, which span just about every segment of the watch industry.

In addition, the company, which also owns watch movement manufacturers and retail brands, hosted a separate museum-quality exhibition in Hall 2.0 for its Swatch timepieces; the brand that has been the most responsible for the company’s enormous success.

The newest brand under Swatch Group’s enormous umbrella, Harry Winston, still had its own space in Hall 1.1, as the $1 billion acquisition occurred in March, well too late  for Harry Winston to be folded into the other company holdings (perhaps next year).

Below are some of new releases from the seven brands in the group that I had the chance to visit during the eight-day tradeshow. I included Harry Winston as the company's new CEO, Nayla Hayek, was announced Friday.

Blancpain Carrousel, Minute Repeater and Chronograph
The Swiss luxury watch brand has created a fully mechanical watch that combines a one-minute flying carrousel (similar to a tourbillon) and a minute repeater with a flyback chronograph.

For the minute repeater, the blades of its cathedral gong wrap one and a half times around the movement to emit the sound. Its transmission is optimized by fixing the gongs inside the case, which increases volume and clarity. A flying governor reduces the background noise produced by the movement.

The pusher for the chronograph function with the flyback or instant-restart function (historically used by pilots) is located at 4 o’clock and enables the wearer to restart a time measurement while a first measurement is in progress.

The watch comes in a red gold 45 mm case with a chapter ring, a 30-minute and hour-markers in grand feu enamel. The open dial and sapphire crystal case-back provides in-depth views of this complex device.

Breguet Classique Chronométrie 7727
Available in rose or white gold, the watch is fitted with the new in-house caliber 574DR, which has a balance frequency of 10Hz.thus, improving the time-keeping performance of the balance and spring. It is fitted with a double balance-spring, pallet lever and escape wheel, all in specially prepared silicon. The result is a regulating power equivalent to around 830 microwatts. Despite its high frequency, it has a power reserve of 60 hours.

However, Breguet says the major innovation of this model is the use of magnetic pivots, which not only controls the negative effects of magnetism in a watch, but also uses the magnetic force to improve the pivoting, rotation and stability of the balance staff.

The dial shows an off-center chapter of hours and minutes, small seconds at 12 o'clock, a power-reserve indicator at 5 o'clock and a tenth-of-a-second indicator at 1 o'clock having a patented lightweight silicon hand with low inertia that doesn’t affect the balance. The pare-chute is visible at 2 o'clock, both as a reminder of A-L Breguet’s 1790 invention and to make the timepiece slimmer.

The dial is engine-turned in six patterns: “Geneva waves” in the center, a hobnail pattern for the small seconds, sunrays on the tenth-of-a-second dial and chevrons for the power-reserve indicator. The hours chapter is cross-hatched while a barleycorn pattern decorates the outer edge. The hands are in polished steel with the Breguet open tip, while the case displays delicate fluting.

Glashütte Original Senator Chronometer Regulator
This new timepiece unites the classic regulator display with an officially certified manual winding chronometer movement.

The dominant central position on the lacquered silver-grainé dial is the blue minute hand with its polished eye. On the central axis above and below the minute indicator are smaller hour and seconds displays.

The Glashütte Original panorama date display is placed at 3 o’clock. The date change takes place at midnight. From 6 in the morning until 6 in the evening, the small circle in the region of the hour display is white; from 6 pm until 6 am it is black. This timepiece is framed by a 42 mm polished case in red gold or a white gold version.

The watch is driven by the caliber 58-04, which permits the precise coordination of minute and seconds hands. A second-zero-stop-mechanism makes it is easy for the wearer to set the exact time. When winding the crown, the time display is stopped, the second hand jumps to zero and remains there. At the same time, the minute hand is also moved to the next full minute index. When one winds the crown to set the time, the minute hand always rests only on the full minute indices. This provides the correct relationship of the displayed seconds and minutes. A power reserve display at 9 o’clock indicates the energy remaining in the manual winding movement.

The watch is officially certified and bears a certificate from the German Calibration Service after a 15-day testing period.

Hamilton Jazzmaster Regulator
The H-12 movement in this watch allows the separation of the minute and hour hands on  different axials and sub-dials. The idea is to make the watch more accurate and provide an easier way for the person who owns the timepiece to read the time. However, I think most people wear such a watch is because of the appearance. Add to this the blue or silver dial and you have watch that can be worn for casual or formal occasions. There are three 42mm timepieces in the collection. In addition to the dial choice straps come in either leather or stainless steel.


Harry Winston Opus XIII (top photo)
It was difficult to determine which of the many technically advanced and aesthetically pleasing timepieces from this luxury brand to show. In the end I chose the newest addition to its iconic Opus collection. Opus is the watch that introduced Harry Winston to the world as more than just luxury jeweler. Each year the brand works with gifted independent watchmakers to build a timepiece with the goal of defying the conventional rules of watchmaking.

This year the newest member of the Swatch Group created a watch where the minutes accumulate around a track. Eleven rotating silver triangles spring from a faceted dome to show the hours. Every 12 hours, Harry Winston’s logo is appears on the dial and vanishes after sixty minutes. The 59 minute hands pivot on a ring of steel shafts that are held in place by 242 ruby bearings.

The mechanical watch is powered by the in-house HW4101 movement, which has 364 components. The case is made of 18k white gold.

Jaquet Droz Perpetual Calendar Eclipse
This newest version of the Eclispe line presents a new moon phase complication, which displays the cycles of the night of the sky on the dial, with the perpetual calendar complication. On the black or ivory-colored Grand Feu enamel dial, two straight hands contrast with the curves of two wavy hands, tipped with a crescent moon. The calendar information is easily read on several places on the dial: on the right is the date, on the left is the day of the week. At 12 o’clock, a single-hand counter indicates the month with the leap year appearing in a small window. At 6 o’clock, a black or ivory-colored onyx index moves across the face of a golden moon, revealing, and then concealing it until its total eclipse, unfolding on a night sky of eight golden stars, the watchmaker’s favorite number. The timepiece is powered by a Jaquet Droz 5853LR.4 self-winding mechanical movement, double barrel, perpetual calendar, retrograding moon phase, 22-carat white gold oscillating weight.

Longines Heritage Military 1938
Following Orb’s victory in the Kentucky Derby, Longines, the Official Watch and Timekeeper for the celebrated race, awarded the horse’s owner, trainer and jockey with watches from the brand’s Saint-Imier collection at the event’s Winners’ Circle Party. The Swiss watchmaking brand was the Official Watch and Timekeeper of Kentucky Derby 139 and Entitlement Partner of Longines Kentucky Oaks 139. Now the luxury watch brand is Paris where it is the Official Timekeep of Roland-Garros, home of the French Open.

Prior to both events, the brand was in Baselworld showing off its new watch collections. Among them was the Longines Heritage Military 1938, which uses the same aesthetics based on the design of a military watch produced by Longines in the 1930s. With a diameter of 42 mm and fitted with the automatic calibre L705, this timepiece displays the hours and minutes, a 30-minute counter at 3 o’clock, the date at 6 o’clock and the small second at 9 o’clock. Large white Arabic numerals, coated with Super-LumiNova and a minute circle white as well contrasts with the deep matt black of the dial.

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Nayla Hayek Named CEO of Harry Winston

Nayla Hayek

Swatch Group Ltd. said Friday that Nayla Hayek, chairwoman of the Swiss holding company and daughter of the company’s founder Nicolas Hayek, has been named CEO of Harry Winston, Inc., effective immediately.

This change in leadership was first noted in early April when it was reported that the luxury brand’s former CEO, Frédéric de Narp, quietly left the company and Hayek assumed his role. She had already been nominated chairwoman of Harry Winston when the company was acquired by Swatch Group in March from former its owner, now named Dominion Diamond Corp., for $750 million plus the assumption of up to $250 million of pro forma net debt.

The luxury diamond jeweler and timepiece retailer has salons in key locations throughout the world—including New York, Paris, London, Beijing, Shanghai, Hong Kong, Singapore, Tokyo and Beverly Hills.

The brand’s namesake, Harry Winston (March 1, 1896 – December 28, 1978) founded the luxury retail company in 1932. He was among the most famous jewelers in the world and the first jeweler to lend jewels to an actress for the Oscars red carpet in 1944. He was also well-known for donating the Hope Diamond to the Smithsonian Institution in Washington.

The Swatch Group, based in Biel, Switzerland, is active in the manufacture and sale of finished watches, jewelry, watch movements and components. It is the world’s largest watchmaking group and supplies nearly all the components required for the watches sold by its 19 individual brands and the multi-brand Tourbillon retail company.

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Dominion Diamond Completes $553 million Acquisition of Ekati Diamond Mine

Ekati Diamond Mine

Dominion Diamond Corp., formerly known as Harry Winston Diamond Corp., said Wednesday it has completed its acquisition of the Ekati Diamond Mine in Canada’s Northwest Territories and related diamond sorting and sales facilities in Yellowknife, Canada, and Antwerp, Belgium. The Canadian subsidiary of mining company BHP Billiton was the majority owner of the mine and the other facilities. BHP is exiting the diamond business to concentrate on other mining activities.

The purchase price was $500 million plus price adjustments of $53 million for items that include interest, tax and capital expenditures bringing the total amount paid to $553 million. On the date of closing Ekati had cash on hand of approximately $65 million and two sales cycles (10 weeks) of diamond inventory either in the process of being sorted and valued or available for sale. Dominion Diamond said the inventory will be valued against its rough diamond sales assortments.

Dominion Diamond also provided letters of credit to the Government of Canada of approximately CAD$127 million, in support of reclamation obligations for the Core Zone. The purchase price and the letters of credit were satisfied from or secured by cash on hand.

The Ekati Diamond Mine consists of the Core Zone, which includes the current operating mine and other permitted kimberlite pipes, as well as the Buffer Zone, an adjacent area hosting kimberlite pipes having both development and exploration potential.

Dominion Diamond funded the acquisition through its recent $1 billion sale of the Harry Winston luxury retail brand to Swatch Group. The company also owns a 40 percent stake in the Diavik Diamond Mine, also in the Northwest Territories of Canada. The acquisition of Ekati has made the company the largest supplier of Canadian diamonds.

Dominion Diamond is still flush with cash and the speculation is it will use the money to buy the remaining 60 percent interest in the Diavik Diamond Mine from mining company Rio Tinto, which has, like BHP, stated a desire to pull out of the diamond business to focus on other mining activities.

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The Former Harry Winston Diamond Corp. Files First Earnings Report Under New Name; Ekati Mine Acquisition Is Approved; Frédéric de Narp Reportedly Resigns

The new Dominion Diamond Corp. logo.

Dominion Diamond Corp., the company formerly known as Harry Winston Diamond Corp., said that consolidated sales from continuing operations increased 8 percent to $110.1 million for the fourth quarter. The increase was the result of an improved sales mix, partially offset by a 3 percent decrease in volume of carats sold during the quarter. It also cited increased demand in India, China and the United States.

Meanwhile, operating profit from continuing operations fell 12 percent in the quarter ended Jan 31 to $21 million. Consolidated EBITDA from continuing operations decreased 6 percent to $45.3 million.

Net income from continuing operations fell to $12.1 million, or 14 cents per share, from $12.7 million, or 15 cents per share, a year earlier.

Since 2006, the company operated as two segments: a luxury retail jewelry and watch division under the iconic Harry Winston brand name and a diamond mining business. The company closed its sale of the luxury brand segment to the Swatch Group Ltd. on March 26 in a deal valued at $1 billion. As part of the closing of the transaction, the company changed its name to Dominion Diamond Corp. and its common shares now trade on both the Toronto and New York stock exchanges under the symbol DDC.

The company now operates solely as diamond mining and marketing business and its earnings report reflects this with the results of the luxury brand segment treated as discontinued operations for accounting and reporting purposes.

Other fourth quarter highlights include:

* Rough diamond production during the fourth calendar quarter increased 19 percent to 1.9 million carats.

* The company had 500,000 carats of rough diamond inventory with an estimated current market value of approximately $65 million at January 31, of which approximately $25 million represents rough diamond inventory available for sale, with the remaining $40 million being sorted.

In related news:

* The company previously said it received regulatory approval to complete the $500 million acquisition of the Ekati diamond mine in Canada’s Northwest Territories and diamond sorting and sales facilities in Yellowknife, Canada, and Antwerp and Belgium, from mining company BHP Billiton Canada Inc. Dominion said it expects the transaction to close on or about April 10. It was speculated that the sale of the luxury retail segment was used to finance the acquisition.

* In addition, the company is reportedly interested in buying the remaining stake in Diavik diamond mine. It currently owns a 40 percent share of the mine with the remaining interest owned by mining company Rio Tinto, as Rio has stated a desire to pull out of the diamond business.

* Frédéric de Narp, president and CEO of the Harry Winston luxury segment, has resigned, according to a report in the New York Post. Nayla Hayek, a Swatch board member and daughter of the company’s founder Nicolas Hayek, has assumed de Narp’s role.

“The last year and this first quarter has been a time of great positive change for the company, including changing its very identity,” said Robert Gannicott, Dominion Diamond Corp.’s chairman and CEO. “This change reflects a focus on the production, sorting and sale of diamonds from Northern Canada, a region that we know and understand well. The acquisition of the Ekati Mine, and its operating team, is expected to close next week giving us operational control of both a producing mine and development opportunities in the large scale resources on the Ekati property. Together with our exploration acreage adjacent to the Ekati and Diavik properties, this positions us from grass-roots exploration through development opportunities. We also become the largest supplier of Canadian diamonds sold through an expert sorting and marketing chain that we have perfected through the years of Diavik production.” 

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Swatch Group Finalizes $1 Billion Acquisition of Harry Winston

The Harry Winston Salon in Harrods London department store.

The world-renowned Harry Winston luxury brand is now under new ownership. The Swatch Group Ltd. said late Tuesday that it has successfully completed the acquisition of the jewelry and timepiece retailer.

Swatch and Harry Winston Diamond Corp.,  now the prior owner of the brand, announced in January that the Harry Winston luxury retail division was being sold for $750 million plus the assumption of up to $250 million of pro forma net debt.

In addition to being a luxury jeweler and timepiece company, Harry Winston Diamond Corp. operates as a diamond mining business with a 40 percent ownership interest in the Diavik Diamond Mine. It is finalizing the purchase of the Ekati Diamond Mine, including its diamond sorting and sales facilities. Both mines are in the Northwest Territories of Canada.

Following the transaction, the company now is solely a diamond company and operates under the new name, Dominion Diamond Corp., while Swatch Group retains the Harry Winston brand name.

The U.S.-based luxury retail business was bought by the Canadian diamond mining group, Aber Corp., in 2006 to create the Harry Winston Diamond Corp., with divisions in luxury retail and diamond mining. It was listed on the New York Stock Exchange in 2007.

The brand’s namesake (Harry Winston, March 1, 1896 – December 28, 1978) founded the luxury retail company in 1932. He was among the most famous jewelers in the world and the first jeweler to lend jewels to an actress for the Oscars red carpet in 1944. He was also famous for donating the Hope Diamond to the Smithsonian Institution in Washington.

The luxury diamond jeweler and timepiece retailer has salons in key locations—including New York, Paris, London, Beijing, Shanghai, Hong Kong, Singapore, Tokyo and Beverly Hills.

The Swatch Group, based in Biel, Switzerland, is the world’s leading supplier of finished watches and watch movements and one of the world’s largest buyers of polished diamonds. The two companies previously said that they will explore the opportunities for a joint diamond polishing venture bringing together the manufacturing and diamond expertise of the two companies.

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Harry Winston Opens Salon in Harrods

International luxury brand, Harry Winston, on Friday opened a salon in Harrods, marking its second retail location in London and 27th worldwide.

Located in the luxury department store’s fine jewelry room, the salon was designed by Studio Sofield, Inc. of New York. The 631-square-foot space uses a soft taupe and grey color palette complements the custom designed black lacquer and antique bronze furniture and display vitrines, with vintage floor lamps, bespoke chandeliers and hand beaded silk walls completing the look.

The salon contains dedicated high jewelry, bridal jewelry, and timepieces, including one-of-kind pieces from the brand’s Ultimate Adornments. Harry Winston’s largest high jewelry collection to date, was on display for the grand opening.

Frédéric de Narp, president & CEO, Harry Winston Inc., said the new salon is part of the company’s expansion plan.

“Harry Winston salons are located in the finest shopping destinations across the globe,” he said. “As one of the great international cities, London is a key and critical part of our retail growth.”

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Harry Winston May Purchase Second Canadian Diamond Mine

Ekati diamond mine. Photo credit: Jason Pineau, through Wikipedia

Harry Winston is in talks to purchase an important asset of BHP Billiton’s diamond business, according to published reports.

The Toronto-based company, which describes itself as a diamond enterprise with premium assets in the mining and retail segments of the diamond industry, has secured bank financing for a possible deal to buy the Ekati diamond mine in Northwest Territories of Canada, according to the Financial Times. However, the deal, which was to be completed by mid year is going slower than expected and could even break down.

Harry Winston, best known as a luxury jewelry and watch retailer, already owns a 40 percent share in the Diavik diamond mine in the same area with Rio Tinto, which owns a 60 percent stake.

Both BHP Billiton and Rio Tinto announced in November 2011 that they are looking to get out of the diamond business to focus on larger, more-profitable assets from their vast mining businesses.

It’s a complicated matter, according to the report, because if Rio Tinto agreed to sell Diavik to Harry Winston, it would make it more difficult for the mining giant to sell the rest of its diamond assets.

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Harry Winston 'Martian Pink' Diamond Sells for $17.4 Million

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

The largest round fancy intense pink diamond to ever appear at auction sold for $17.4 million at Christie’s Hong Kong Magnificent Jewels sale Tuesday.

Known as the “Martian Pink,” the extremely rare 12-ct. diamond was owned by a private collector. It was purchased from Harry Winston in 1976—the same year, the United States launched its first satellite on a mission to Mars: The Viking Landers. Ronald Winston named the diamond to honor the historic event. It sold for approximately $1.5 million per carat. Its estimate was $8.4 million to $12.3 million. The diamond is mounted on a size-7, 18k gold ring.

Other significant diamonds sold at the auction include:

* A pair of brilliant-cut unmounted diamonds, weighing 10.88 and 10.88 carats, sold for $4.8 million. Both diamonds are of D color, flawless clarity, with excellent cut, polish and symmetry.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

* A three-diamond ring from JAR sold for $2.9 million. It consisted of a 10.67-carat D color, internally flawless, oval-shaped diamond at its center is flanked by two D color, internally flawless diamonds of 6.07 and 6.04 carats. The estimate was $2.5 million – $3.5 million.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

* A second large diamond with ties to Harry Winston, an 11.85-carat D VVS1 potentially flawless round brilliant-cut diamond, sold for just under $2 million, within its is estimate.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

* It was mostly diamonds that stole the show, but one other gemstone elbowed its way into being one of the top items sold Tuesday. A 6.04-carat Burmese ruby and diamond ring by Etcetera sold for $3.4 million, just within its high estimate. This no heat cushion-shaped stone possesses the most desirable “pigeon’s blood red” color.

2012 Oscars Red Carpet Jewelry

Gwyneth Paltrow Wears Anna Hu Haute Joaillerie on the red carpet, including the Hearts of Winter cuff bracelet made of 2,368 rose-cut, round brilliant diamonds weighing 163 carats and valued at $1 million; and the double hoop Duchess Hibiscus Ring made of rose cut and round diamonds with purple sapphires set in 18-karat white gold and valued at $160,000. 

With a silent film taking the night’s biggest prizes and two Octogenarians nominated for Best Supporting Actor Oscars (one winning), it shouldn’t have come as a surprise that it was night of nostalgia when it came to red carpet fashion for the 84th Academy Awards. The jewelry worn by the movie industry’s biggest stars kept with that trend with classic designs and plenty of old-time sparkle.

Best Actress nominee, Michelle Williams, arrives at the 84th Annual Academy Awards in a 30-carat Fred Leighton diamond forevermark necklace. Photo credit: Jason Merritt/Getty Images

Green, the most popular color last year, was still very much in the limelight but shared the stage with red and blue. Necklaces were more difficult to spot than in previous years and the ones that were worn took to more traditional designs, such as riviera style necklaces, rather than the big, bold necklaces that some jewelry designers and luxury brands had ready for the stars to wear. Earrings were mostly kept to modest lengths. When size did matter it was used for rings and bracelets, such as large cuffs. Emerald and diamonds seemed to the most popular gemstones for the evening.

Natalie Portman wears a V-shaped diamond necklace and diamond earrings on the red carpet. Photo credit: Jason Merritt/Getty Images

Harry Winston and Fred Leighton were among the favorites of the actresses as were the Swiss brands, Chopard and Piaget. Hollywood’s popular jewelry designers, Lorraine Schwartz and Neil Lane, also had outstanding nights. Largely missing in action were the Italian jewelry houses, Bulgari and Damiani; and the French fashion houses such as Van Cleef & Arpels and Cartier. Tiffany also had a quiet night, with the exception of placing $1 million worth of jewelry on Cameron Diaz.

Penelope Cruz wears a Chopard riviera style necklace and diamond ear clips. Photo credit: Jason Merritt/Getty Images

Overall, risk taking took a backseat to old Hollywood glamour. For the most part it was a good thing.

Cameron Diaz arrives on the red carpet wearing $1 million worth of Tiffany jewels, including the diamond necklace. Photo credit: Michael Buckner/Getty Images

Octavia Spencer, Best Supporting Actress, winner for The Help finished her look with Neil Lane jewelry and a Judith Leiber clutch. Photo credit: Jason Merritt/Getty Images

Jessica Chastain on the red carpet wearing Harry Winston jewels.

Milla Jovovich wears Jacob & Co.

The Iron Lady Meryl Streep wears Fred Leighton.

Emma Stone in Fred Leighton on the red carpet.

George Clooney's SO, Stacy Kiebler, wears Lorraine Schwartz.