NYC Wholesale Diamonds Blog

China’s economy is cooling, and Asia’s once rosy prospects look less shiny than they did two years ago, but this has not deterred Sotheby’s from choosing Hong Kong as the place to sell a rare multimillion-dollar diamond in October. The auction house announced Monday that the stone, “The Premier Blue,” will be sold on Oct. 7 as part of Sotheby’s regular twice-yearly auction series.

The stone weighs 7.59 carats and is about the size of a shirt button. Its size, vivid blue color and round cut — highly unusual for colored diamonds — make it exceptionally rare, and Sotheby’s expects the stone to bring about $19 million, Quek Chin Yeow, deputy chairman of Sotheby’s in Asia, said in an interview before Monday’s announcement. That, he said, would be a record per-carat price for any diamond.

The choice of Hong Kong as a place to sell the stone underlines just how important Asia has become as a consumer of luxury items, as rapid growth has swelled the ranks of the ultrarich.

“Since about 2006, 2007, Hong Kong has ranked alongside Geneva and New York as a center for jewelry sales,” Mr. Quek said. “It is now the third pillar of the global jewelry market.”

That the rapid growth has slowed has generally not dented the ability and willingness of these superrich to spend. The rich generally remain rich even when times are worse, luxury industry analysts said.

Moreover, Mr. Quek said, Asian buyers tend to be more willing than their Western counterparts to seek out buying opportunities during uncertain times, often making purchases with an eye to potential price increases down the line. And when it comes to diamonds, they tend to like round cuts and colors — another reason for auctioning the Premier Blue in Asia rather than in Europe or the United States.

Sotheby’s is previewing the stone and other auction items around Asia, including in Beijing, Shanghai, Bangkok, Singapore, Jakarta and Taiwan — a reflection of the regional spread of buyers.

About 25 percent to 30 percent of the money spent at the Hong Kong art and jewelry auctions comes from mainland Chinese buyers, but Hong Kong buyers are also very active, as are Singaporeans, Indonesians, Taiwanese and southeast Asians, Mr. Quek said.

NYC Wholesale Diamonds designs a wide selection of styles with Diamonds complementing Peridot, the birthstone for August. Peridot (pronounced pair-a-doe) is the gem variety of olivine. Peridot is the birthstone for August and the zodiac stone for the constellation Libra (astrological sources refer to peridot as Chrysolite). Peridot is associated with the values of fame, dignity, protection, and success.

Olivine, which is actually not an official mineral, is composed of two minerals: fayalite and forsterite. Fayalite is the iron rich member and forsterite is the magnesium rich member. Peridot is usually closer to forsterite than fayalite in composition although iron is the coloring agent for peridot. The best colored peridot has an iron percentage of less than 15% and includes nickel and chromium as trace elements that may also contribute to the best peridot color.

Gem quality peridot comes from the ancient source of Zagbargad (Zebirget) Island in the Red Sea off the coast of Egypt; Mogok, Myanmar (formerly known as Burma); Kohistan, Pakistan; Minas Gerais, Brazil; Eifel, Germany; Chihuahua, Mexico; Ethiopia; Australia; Peridot Mesa, San Carlos Apache Reservation, Gila County, Arizona and Salt Lake Crater, Oahu, Hawaii, USA. The best quality peridot has historically come either from Myanmar or Egypt. But new sources in Pakistan are challenging that claim with some exceptional specimens. The Arizona gem material is of lesser quality, but is far more abundant and is therefore much more affordable. An estimated 80 – 95% of all world production of peridot comes from Arizona. The Myanmar, Pakistani and Egyptian gems are rarer and of better quality , and thus quite valuable approaching the per carat values of top gemstones. Possibly the most unusual peridot is that which comes from iron-nickel meteorites called pallasites. Some are actually faceted and set in jewelry.

By midsummer, it’s almost a given that your hot-weather wardrobe is starting to look a little . . . dull. It’s understandable. After all, this is basically the no-man’s-land of fashion: too hot for fresh fall looks. Too late in the sale cycle for new summer duds. And too sweltering to think about wearing much at all. But there’s a secret upside to this fashion abyss: This is also the time of year when a really fab accessory starts to look especially enticing—and make the most impact, to boot. For maximum style rejuvenation, skip winter’s neon baubles and last summer’s overplayed bubble necklaces and refresh your look with one of these five jewelry trends. Pick one or two, or try all five: We promise it’s the fastest way to make the same three sundresses feel suddenly new again.

The Hand-Piece
This ring-bracelet hybrid combines everything we love into one awesome piece. These styles run the gamut from sweet and simple to majorly ornate, but we’re especially feeling the statement-making potential of the more intricate types.

Stud Earrings Singles
Who ever ruled that your earrings must be an identical duo? A little asymmetry is always welcome in our world. Switch things up by wearing two different posts—try your initials, or combine geometric metal shapes.

Stackable Band Rings
Not that we don’t still love us a giant cocktail ring—because we most certainly do—but there’s something super chic and totally fresh about the current crop of slender, minimalist rings. Wear them alone or in multiples, either stacked or anchored above the knuckle (our pick!).

Chain Lightweight Bracelets
Such a feminine counter to the chunky cuffs of earlier seasons. Try these lightweight chains solo, layered, or worn with a watch.

Ear Cuffs
So dramatic! While most of the most current jewelry looks are trending delicate, we love the sheer glamour of ear cuffs, which offer an attention-getting design with chunky stones or gleaming metals.

NEW YORK, July 31, 2013 /PRNewswire via COMTEX/ — Colorful Engagement Rings and Wedding Bands Spice Up Bridal Jewelry

When it comes to wedding trends, color is hot! The color trend continues with engagement rings and wedding bands for women and for men. Bridal jewelry has traditionally been dominated by white diamonds. However, with personalization becoming increasingly important to brides and grooms, colored diamonds and colored gemstones are quickly becoming a way for them to showcase their distinct personalities.

“Some of the hottest styles of bridal jewelry are those with a jolt of color,” says Amanda Gizzi, spokesperson for Jewelry Information Center, the consumer education arm of Jewelers of America. “Hot colors include champagne, brown, pink, yellow, black and gray which are giving a modern yet timeless twist to engagement rings and wedding bands.”

With engagement rings, color can be used either as a center stone or as accent stones. Using bold accents of color engages couples who have a distinct style and want a ring that is unlike that of their other family and friends but still want to have a white diamond center stone. Fashionable engagement ring styles include those with unique patterns of colored diamonds.

Engagement rings with colored diamond or gemstone center stones are also popular. One popular style is the “halo” setting which has a center stone surrounded by a ring of white diamonds. The halo design is highly thought of because it makes the engagement ring look larger than other settings.

In addition to engagement rings, colorful wedding bands are being embraced by both men and women. “Men and women want a wedding band that speaks to their individuality,” adds Gizzi. “Black diamonds are especially hot in men’s rings as they are chic yet masculine.” Pairing colored gemstone or diamond wedding bands with a white diamond engagement ring is a great option for the woman who loves color but wanted a traditional diamond engagement ring.

All eyes are on Britain with the arrival of the newest British royal. The first child of the Duke and Duchess of Cambridge will be in-line for the throne and to wear – perhaps – some of the most prized royal possessions.