International News
Sotheby’s New York to Shine Spotlight on Colored Diamonds in June High Jewelry Auction
Sotheby’s is set to dazzle collectors at its upcoming High Jewelry auction on June 13 in New York, with colored diamonds and iconic designs taking center stage. Leading the sale is a Graff diamond ring featuring a 35.01-carat, emerald-cut, D-color, VVS-clarity diamond, flanked by triangle-shaped diamonds, expected to fetch up to $3 million.
Among the highlights is a selection of colored diamond pieces, including a 5.02-carat fancy-pink diamond ring by Valentin Magro (est. $2 million), and a 2.02-carat fancy-vivid-blue diamond ring by the same designer (est. $1.8 million). A 26.19-carat fancy-vivid-yellow diamond ring, accented with D-color diamonds, is estimated at $1 million.
The auction features several important private collections. From the estate of Emily Vanderbilt Wade, a Marcus & Co. necklace showcasing a 9.60-carat Burmese ruby surrounded by diamonds and rubies is expected to reach $2 million. Another notable collection, Joie de Vivre: A Journey in Jewels, includes 13 sentimental gifts spanning a 60-year marriage, with standout pieces like Graff earrings set with Colombian emeralds and diamonds, estimated at $2.5 million.
Additional highlights include:
- A pair of unmounted pear-shaped, D-flawless diamonds (10.32 and 10.11 carats) with a high estimate of $1.5 million.
- An unmounted 17.05-carat D-color, VVS1-clarity emerald-cut diamond, valued at $700,000 to $900,000.
- A rare 0.47-carat fancy-red diamond, with no reserve and an estimate of up to $700,000.
- A JAR ring with an 8.63-carat Colombian emerald, priced up to $700,000.
The auction will also showcase a group of five Art Nouveau jewels by René Lalique, offering collectors a chance to own a piece of design history.
Sotheby’s continues to attract global interest with this stellar lineup, celebrating rarity, craftsmanship, and storied provenance.
International News
Mehul Shah (WFDB/BDB) and Kirit Bhansali (GJEPC) Elected To CIBJO Board Of Directors At Centenary Congress In Vicenza
Indian Now Has Four Representatives On Board Of The World Confederation. Enhanced Collaboration Will Increase Transparency and Strengthen Consumer Confidence.
Mehul Shah, President WFDB & Vice President BDB, and Kirit Bhansali, Chairman GJEPC were elected by the CIBJO General Assembly to the Board of Directors of The World Jewellery Confederation (CIBJO) at the organisation’s Centenary Centenary Congress which concluded in Italy on September 7. They join Pramod Agarwal, former GJEPC Chairman, who was re-elected as Vice President of the global body and Vaishali Banerjee, MD India of PGI was also elected to the Board.
Dr Gaetano Cavalieri was re-elected unopposed as President, while Jonathan Kendall and Kenneth Scarratt were re-elected to the other two posts of Vice President. The Board has a total of 30 members.
CIBJO is the oldest global organization in the world gem and jewellery industry and is acknowledged for its stellar role in helping standardize guidelines and nomenclature used by the gem and jewellery trade worldwide. The organization publishes Blue Books and Retailer’s Guides for different industry verticals, drafted by members of its Trade Commissions who are experts in their fields. These are regularly updated at the World Congresses, which are held every few years.
Mehul Shah, who addressed the Opening Session of the Centennial Congress, congratulated the body on being recognised by the United Nations Economic and Social Council in 2006 as a technical expert and advisor, and called for stronger collaboration between CIBJO and diamond industry bodies like WFDB and BDB.
During the Congress deliberations, Mr Shah also strongly urged the body to adopt clear guidelines to differentiate gemstones produced in the laboratories that may appear identical to natural gemstones.
MR Shah said:
“There is a need for greater clarity and transparency in communicating these differences to the consumers so that they understand that these are actually two different products and address different consumer bases.”
Mehul Shah focused on the strong growth in the Indian market where demand was increasing about 10% year-on-year. “India is now the second largest consumer market in the world. “The election of a number of leaders from Indian trade bodies to the CIBJO Board is significant, because our country is both a leading manufacturer-exporter of diamonds, jewellery and coloured gemstones, as well as a rapidly growing consumer market for these products,” Mr Shah said soon after the election.
He endorsed the other panellists’ views that demand and prices were stabilising worldwide. The panel also urged the industry to boost its marketing activity.
He pledged to strengthen the collaboration between the global diamond industry and CIBJO across the world and in India, and work for enhancing consumer confidence in the gem and jewellery industry.
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