Hey, while you're at the vending machine, could you get me a coke, and a diamond necklace?

By Megan Reynolds, AJP (GIA)

Vending machines, sure they’re great for a quick drink or candy bar, but what happens when the humble vending machine becomes something a bit classier? For the past couple of years, enterprising gold merchants have been attempting to transform the humble vending machine, previously the home of my beloved Twix bars and Mountain Dew, to emporiums of gold and silver. And most recently, the Gitanjali Group has decided to take it one step further, by adding diamonds. Yes, you can now buy diamonds, from a vending machine. I give you, the ‘Go for Gold’ vending machine, accented by famous Bollywood actress Raima Sen.

Unveiled in Mumbai on October 22^nd, the new machine designed to operate like an ATM, is already making world-wide headlines. Not unlike its gold-vending counterparts, the new machines will dispense gold and silver bars, coins, pendants with religious motifs, as well as a range of diamond studded jewelry. “This machine is a first of its kind anywhere in the world and will further revolutionize the processes by which precious metals and jewelry is bought”, claims Gitanjali CEO Sanjeev Agarwal. “It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days. But it also offers choices for occasions like Valentine’s Day, or to a husband who forgot an anniversary or his wife’s birthday.”  

The ATM utilizes a touch screen and gives customers a choice of around 36 options in difference sizes, designs and price points. Prices will range from about $20 to $610 dollars for the various coins and jewelry items. The machines will accept payment in the form of Credit/Debit and cash.

So, would you buy diamond jewelry from what is essentially a high class vending machine? I have to say, I would. I’m just the kind of person that would get a kick out of it. The real question then becomes, what happens to the diamond ATM when the novelty wears off? I'm not sure, but for now, I'll take a gold bar, and a bag of Fritos please.

Precious Pearls

By Megan Reynolds, AJP (GIA)

Whether it’s a classic strand of white pearls given as a graduation present, a sparkling tiara studded with pearls fit for a queen, or a time honored painting, pearls have always inspired us. But what exactly is a pearl, and what makes it so special?

Pearls come in many body colors including grey, white, gold, and even green. Adding to that body color can be overtones of every hue in the rainbow lending to a spectacular, luminous appearance. Pearls can also come in many shapes including round, semi-round, baroque, button, drop, pear, oval, and circled where the body is covered with concentric rings or ridges. A natural pearl is a miracle of nature, formed by the intrusion of foreign matter within a mollusk. Pearls are the epitome of something beautiful arising from a bad situation. The process is simple; a small irritant makes its way into the body of the mollusk which then deposits layers of a pearlescent substance called nacre over the foreign body to combat the irritation. What results is a natural pearl which is extremely rare and highly valued.

The question you’re probably asking yourself right now is what about cultured pearls? Well to answer that question, I’ll start with a story, about onions. You see, pearls are a lot like onions. They are created by layer upon layer of smooth nacre. However it is what is at the heart of those layers that differentiates a natural pearl from a cultured pearl. Natural pearls are, as the name implies, the result of a natural process to rid the mollusk of an irritating intruder. However it is not feasible or cost effective to create an industry based on chance, so pearl lovers and entrepreneurs started looking for a way to assist Mother Nature by implanting irritants into the mollusks in a controlled environment forming a cultured pearl.

A cultured pearl is formed when either a portion of the mantle from a donor mollusk or a bead nucleus is placed into a host mollusk. Saltwater pearls such as Tahitians and South Seas use a bead nucleus, and Fresh water pearls use the donor mantle process. In both cases, the host mollusk is then placed back into the water where it starts adding layers of nacre, thus forming the pearl. In a way it’s like our onion. Yes I keep going back to that, but it’s true. Onions occur and grown naturally in the wild, and people loved them. So enterprising farmers decided to speed up and control the process by “culturing” them, by farming. The onion/pearl is the same, but the seed and growing processes are a bit more high tech. So now that we understand what a cultured pearl is, let’s talk about the three main types in a little more detail.

Tahitian pearls, known for their lustrous black body color, are surprisingly not grown in Tahiti, but rather in the tropical waters of the surrounding islands. The name stuck due to Tahiti historically being the pearl’s main trading center. When it comes to growing Tahitian pearls, a bead nucleus, along with a small piece of donor mantle is implanted into a special oyster called the “black lipped oyster”, known as such due to the dark edges of the inner shell. The “black lipped oyster” is capable of producing pearls that are round or baroque in shape and averaging between 8 and 18 mm in diameter. It takes a full two years to produce a single Tahitian pearl. Imagine how long it took to create this stunning rope of natural black pearls worn by Mary, Queen of Scots.

South Sea pearls are formed via the same grafting process as Tahitians using a bead nucleus. However, they are mostly farmed in Australia and Indonesia using a specific type of oyster known as the “white lipped” or “silver lipped” oyster. South Sea pearls are prized for their white or silver body color and their ability to be produced in all shapes and sizes from 8 to 20mm. South Sea pearls are one of the most lustrous types of pearls owing to the thicker layers of nacre produced by the oyster which can also lend the pearls vivid overtones of green, pink and blue. However this type of oyster is extremely sensitive to changes in ocean temperature or disturbance, making this type of pearl even rarer and more valuable.

Moving out of the sea and into lakes and rivers we find the freshwater pearl. The main difference between freshwater and saltwater pearls is that freshwater pearls are grown in a mollusk instead of an oyster, and that no bead nucleus is used. Freshwater mussels are much hardier than their saltwater cousins and therefore can produce as many as 40 pearls at once, whereas oysters can produce only one! These pearls come in every shape and size, as well as all colors from white to metallic.

So which type of pearl is for you? Well it all comes down to your personal style. South Seas are a time honored classic and are beautiful as a matched set in a necklace. Tahitians make a bold statement and look amazing paired with white diamonds to offset their dark coloring. And freshwater pearls can do it all from funky fashion piece, to elegant round stud earrings. When it comes to pearls, the world is literally your oyster… or mussel as the case may be. *Sorry, I couldn’t help myself with that last bit*

The Wittelsbach-Graff Diamond - A Royal Stone, With a Twist

By Megan Reynolds, AJP (GIA)

The Wittelsbach-Graff is a stone that has a truly royal history, with a big twist at the end. Various accounts have the Wittelsbach diamond first appearing when it was given, by Phillip IV of Spain to his daughter, Margareta Teresa as a part of her dowry in 1664. When she tragically died at the age of 21, her jewels went to her husband, Emperor Leopold I of Austria. Leopold’s third wife Eleanor outlived him and therefore inherited the blue diamond, which she bequeathed to her granddaughter, the Archduchess Maria Amalia. Maria Amalia married the Bavarian crown prince, Charles Albert in 1722 and from then on, the diamond became the family diamond of the House of Wittelsbach. In 1806, Maximilian IV Joseph von Wittelsbach became the first King of Bavaria and had the diamond set on top of the Royal Crown where it stayed until 1918 when Bavaria became a republic.

In 1918, Bavaria became a republic and its final royal outing was to Ludwig III of Bavaria’s funeral marking the final time that the Wittelsbach diamond would accompany the King to his final resting place. After Bavaria became a republic the Wittelsbach family fell on hard times and in 1931 they tried to sell the stone in 1931 but when the hammer came down at Christie’s in London, no one knew who had won the famous blue stone. After that point, the Wittelsbach disappeared. No one knows for sure who owned it, but various accounts place a large blue diamond appearing at the Brussels world exhibition, though none knew it to be the famous Wittelsbach. It wasn’t until the 1960’s, when the Goldmuntz family asked jeweler Joseph Komkommer to re-cut an old mine cut diamond,  that the Wittelsbach was found. Recognizing the history behind such a famous stone, Komkommer refused to touch it, and instead got together with other diamond dealers and jewelers to purchase the Wittelsbach. It then remained safe in a private collection until 2008 when it again came up for auction. The winner? Famed London based jeweler, Lawrence Graff, for $23.4 million dollars.

Graff then shocked the diamond community with his next move. He stated that he planned to re-cut the famous Wittelsbach “to remove damage to the girdle and enhance the color”. And in early 2010 the diamond was re-cut, going from 35.56 carats to 31.06 carats losing 4.45 carats in the process. The color and clarity were also improved from Fancy Deep Grayish Blue VS2, to Fancy Deep Blue IF. But what cost did this have for the famous blue diamond. Many in the industry felt that he had committed a crime against the Wittelsbach, which after the cutting was renamed the Wittelsbach-Graff. Hans Ottomeyer, Director of Berlin’s German Historical Museum was quoted as saying that the remodel was like “buying a Rembrandt and repainting it”. Graff quickly fired back saying that, “if you discovered a Leonardo da Vinci with a tear in it and covered in mud, you would want to repair it”. “We have similarly cleaned up the diamond and repaired damage caused over the years.” But that’s the tricky part. Graff’s detractors would claim that the “damage” was an integral part of the stone, displaying its history in a very real and physical manner.  They feel that the Wittelsbach, and its royal history, are no more. Yes, the stone has technically been improved, but an improvement to whom? Only time will tell.

3.04 carats of D, Internally Flawless LOVE

By Megan Reynolds, AJP (GIA)

There’s a saying in the jewelry industry, “There’s a diamond for everyone”. And it’s true; there is a perfect diamond for every client, whether that diamond is an E color or a K color, VS1 or SI1, everyone has their own unique type of diamond that they love. However, I happen to have one stone sitting on my desk that anyone would adore. It is 3.04 carats, D in color, and Internally Flawless. This diamond is so perfect, that the GIA had it shrink wrapped for freshness. Ok I joke on the freshness part, but the diamond really is sealed in tamper-proof packaging. Isn’t it beautiful? The diamond that is, although the packaging is equally as lovely I’m sure.

You might be asking yourself, why the Fort Knox worthy packaging? Well, a number of reasons, the most important being rarity. Our diamond is 3.04 carats, D in color and Internally Flawless which is a pretty unique combination. Why? Well I’ll break it down into three parts, Color, Clarity, and SIZE.

First, what does D color actually mean? Well, the GIA grades diamonds on a scale ranging from D – colorless, to Z – light yellow based on how noticeable the diamond’s color is. D-E-F colored stones are all considered colorless. More specifically, D and E diamonds have virtually no color, and F diamonds will have a nearly invisible amount of color.  These differences are extremely minute, however there are large price jumps between them, the largest of them is the jump from D to E. Remember, that this is a miniscule difference in color that even the most well trained grader would have difficulty spotting.

Next, what is Internally Flawless? Internally Flawless, or IF, was a clarity grade introduced by the GIA in the 1970’s. Before that time, top clarity diamonds were graded as either Flawless or VVS1. The GIA realized that many superb stones were being unfairly graded VVS1 using this system so a new grade was needed, IF. An IF stone is just what it sounds like, it is internally flawless with no visible inclusions under 10 x magnification. However, what separates IF from a flawless stone is that IF stones can have small blemishes on the surface of the diamond which are considered removable by further polishing. Let’s put all of this clarity business into a new perspective. F and IF stones are truly a miracle of nature when you think of where they come from. Someone once explained diamond clarity to me with this phrase, “Mother Nature works in a dirty kitchen”. And it’s true, diamonds form miles below the surface of the earth, surrounded by other minerals. Imagine this, you’re wearing a pair of white pants, eating a hotdog oozing with mustard and ketchup, while sitting in a large pile of dirt. Do you think that you could eat your hotdog and sit in your pile of dirt without getting a single speck of dirt or condiments on your pristine white pants? It would be next to impossible wouldn’t it?

Finally, let’s talk about size. Only 1 in 15 million diamonds mined is capable of producing a 3 carat stone. The rough for our 3 carat stone would probably have weighed about 10 carats when it was mined. Hard to believe, but a rough diamond loses approximately 50% of its weight to produce a round brilliant diamond. Many well formed pieces of rough can produce two diamonds at once. This rough most likely produced a 2 carat diamond in addition to our 3 carat. Now, we’ve discussed how rare a D, IF stone is, regardless of the size. D, IF diamonds are estimated to represent an extremely tiny .001% of the world’s diamond production. However when you add in the fact that our diamond is 3 carats, it becomes even more uncommon as rarity increases exponentially with size.  Add those factors together and you have a stone that is truly greater than one-in-a-million. And with that rarity comes a price-tag to match.

So why would someone spend nearly 5 times as much for our D, IF diamond than its D, SI1 counterpart of the same size? Well, the reason is different for every person. There are emotional reasons. Perhaps the customer wasn’t able to buy his wife an engagement ring before they got married, and now at their 50^th wedding anniversary, he wants to buy a diamond that is just as perfect as she is. There is also the fact that you will be one of the only people in the world to own a diamond that is this pure and extraordinary. And lastly, but I feel more importantly, a D, IF diamond is one of the most beautiful sights in the world. Every time you look at it, you will be reminded of the miracle of its formation, the miracle of its color, the miracle of its size. This diamond is one of nature’s most beautifully perfect works of art, and you can wear it on your finger. How cool is that?

Want to see more? Check out our youtube video!

The Krupp / Elizabeth Taylor Diamond

By Megan Reynolds, AJP (GIA)

Elizabeth Taylor was once quoted as saying that, “big girls need big diamonds”. Well, if that was the case, then she was a very big girl indeed since she had several diamonds that were not just big, they were enormous. Such is the case with the star of this entry. The Krupp diamond is emerald in shape, and possessing a large culet, which points to the stone being cut before the 1920’s when such facets were being phased out. This stunning diamond weighs in at 33.19 carats, is D in color, and Internally Flawless. Set in platinum, it has always been one of Miss Taylor’s most favorite pieces.

 The stone was named for previous owner, actress Vera Krupp, about whom Elizabeth was said to have remarked, “the Krupp diamond was owned by Vera Krupp of the famous German munitions family, which helped to knock off millions of Jews. When it came up for auction in the late 1960’s, I thought how nice it would be if a nice Jewish girl like me were to own it.” And own it she did, the ring was purchased for her by then husband, Richard Burton for the sum of $305,000, which was the highest amount ever paid for a diamond ring at auction.



Photo : Christie's Images LTD



Jeweler Ward Landrigan of Sotheby’s was charged with the task of delivering the ring to Elizabeth Taylor and staying with her and Burton for a few days until the insurance policy could be updated. He recalls having lunch with them one day during his stay when they noticed a bus full of young girls watching them. “Elizabeth called the manager in and said, ‘If you give the girls something to write on and send them in two at a time, I’ll autograph something for them,’ ”he says. “There must have been 50 of them and she let every one of them try on the ring, which of course gave me a heart attack, and it was amazing.” Amazing indeed. Can you imagine any celebrity today pulling a stunt like that? If you can, please tell me where I can find Kim Kardashian so that she can let me try on her monster ring!

Elizabeth loved the Krupp, so much so that it seemed to become an extension of her very being. She rarely took it off; even to star in her movies. The bauble was so synonymous with her persona that it was even animated onto her character when she had a cameo for the animated series The Simpsons. She said of the piece, “my ring gives me the strangest feeling for beauty”. “With its sparks of red and white and blue and purple, and on and on. Really, it sort of hums with its own beatific life.” The Krupp diamond will be auctioned off in December along with other iconic pieces from her collection. It’s estimated to sell for between 2.5 and 3.5 million dollars. The auction also signifies the changing of this important gem’s name. In honor of the significant role that the Krupp played in Elizabeth Taylor’s life, and her role in the history of the diamond itself, the stone has been renamed The Elizabeth Taylor Diamond by Christie’s and the trustees of her estate. A fitting tribute to the Queen of Diamonds.

The Taylor-Burton Diamond

By Megan Reynolds, AJP (GIA)

Made famous when it was purchased by Richard Burton in 1969, the Taylor-Burton Diamond had two previous owners before gracing the neck of his wife, Elizabeth Taylor. Originally mined in 1966 at the Premier Mine in South Africa and weighing in at a whopping 241 carats, the Taylor-Burton was cut by Harry Winston into a classic pear shape weighing 69.42 carats. The as-yet-unnamed diamond was then sold to Harriet Annenberg Ames in 1967. However, she sold the diamond just two years later due to its massive size. "I found myself positively cringing and keeping my gloves on for fear it would have been seen… As things are in New York one could not possibly wear it publicly."

The F color Internally Flawless diamond was then put up for auction with the note that whoever bought it would get the privilege of naming it. But the diamond did not go to Richard Burton. He had set a limit of 1 million dollars for his representative to spend and so he lost out on the diamond when it sold for $1,050,000 to Robert Kenmore of Cartier. Regarded as the world’s first million dollar diamond sold in a public auction, it was immediately named the ‘Cartier’. Understandably furious, Burton phoned Kenmore from his London hotel, determined to get the diamond. And he did, for 1.1 million with the provision that the diamond be shown in New York and Chicago as the ‘Cartier’ before Burton could take possession. Yes, Kenmore made a profit off of a diamond that he had owned for about a day. More than six thousand people a day flocked to see the famous diamond while it was on display in New York and Chicago.

Photo:Time & Life Pictures/Getty Images Yale Joel

And then finally, Elizabeth Taylor had her diamond. Renamed the Taylor –Burton Diamond, the stone was originally set into a ring. However due to its massive size the stone was reset into a pendant by Cartier that was finished just in time to be unveiled at Princess Grace of Monaco’s 40th birthday party. And it would seem that Mrs. Ames was correct, because armed guards were required to accompany Elizabeth Taylor and her diamond whenever it was worn in public. The diamond was also part of a humorous exchange between Miss Taylor and Princess Margaret of England, “Is that the famous diamond? But it’s so large, how very vulgar!” “Yes” said Elizabeth. “Ain’t it great?” When the Princess asked to try on the stone Elizabeth is said to have quipped. “It doesn’t look so vulgar now, does it?”    

In 1978, after her divorce, Taylor announced that she was selling the diamond with plans to use the proceeds to build a hospital in Botswana. The diamond sold at auction to Harry Lambert, a New York based jeweler who reportedly paid 5 million dollars for it. However Lambert owned the diamond for a mere six months before selling it to Robert Mouawad, who had it re-cut to 68.09. The reason for the re-cut? Well, Elizabeth Taylor had quite the reputation for being hard on her jewelry. A world famous pearl given to her by Burton was chewed on by her dog! It would seem that this reputation was true as the diamond was graded to be F VVS2 after being purchased by Mouawad. So he had the diamond re-cut to regain the coveted Internally Flawless grade. And in case any of you are diamond nuts like I am, and were wondering, yes this is the same Robert Mouawad whose name graces the Carlsbad, California headquarters of the GIA. He has had quite a collection of the world’s most famous diamonds over the years including the Nassak, the Indore Pears, the Premier Rose, the Jubilee, the Queen of Holland, the Tereschenko, and of course, the Taylor-Burton.