Grammy-winning singer John Mayer has sued timepiece dealer Bob Maron, alleging his boutique sold him seven vintage Rolexes with counterfeit parts. 

 

According to the suit, filed March 18 in Los Angeles superior court, Mayer met Maron in 2007 and over the years bought $5 million in watches from him.

In 2010 Mayer sent one of the purchased Rolexes in to be serviced by the company and was told it was not authentic.  Maron called this an error, and applied a credit to the musician’s account.

The following year, the legal papers continue, Rolex told Mayer that another watch he purchased had a counterfeit bezel and dial.  Rolex states “The addition of non-genuine parts to any Rolex renders it counterfeit as defined by Federal Law.”  Rolex has since confirmed that seven of the timepieces sold to Mayer contain counterfeit parts. 

Mayer’s complaint charges fraud, breach of oral contract, and negligent misrepresentation, and seeks a refund of the $656,000 Mayer paid for the seven watches, as well as legal fees.

A Midwest metal dealer purchased a gold item at an antiques mart and was shocked to discover it was a rare Fabergé egg worth $33 million.

The man paid $14,000 for the item and intended to sell it, but no one was interested, fortunately.

In despair, the man typed “egg” and “Vacheron Constantin” into Google and came up with an article on surviving Fabergé eggs that showed a picture of his egg.

It has since been identified as one of the lost Imperial Easter eggs designed by Carl Fabergé. Of the 50 Imperial eggs, the whereabouts of 42 of them are known, but eight are missing. Five of them are believed to have been destroyed, but the other three escaped Russia. This was among those three.

The egg has been reported to have been sold for $33 million to a private collector. 

The Third Lost Imperial Egg.

 

THE CIRCULAR BRILLIANT DESIGNATION

GIA addresses older-style diamonds that do not meet the cut grade standard criteria of the Old European Cut or the new Round Brilliant Cut. Previously, GIA graders had to decide whether to call a stone a round brilliant and grade it according to contemporary standards, or to call it an old European cut and simply record color and clarity without a cut grade.

Circular Brilliant Cut Diamnds resembled the old European cut style, but do not meet GIA's required proportion parameters for that description.  GIA decided to introduce a new description for 58-facet round brilliants. The requirements for a stone to fall into this new category are:

•  Lower half length: less than or equal to 60 percent
•  Star length: less than or equal to 50 percent
•  Culet size: medium or larger

The new description used on GIA reports for these diamonds is “circular brilliant.” All three criteria must apply for the diamond to be designated as a circular brilliant on the GIA grading report. This designation acknowledges that the diamond is not a modern-day round brilliant, suggests a description for rounds of earlier times, and keeps the historic old European cut definition unaltered.

Jewelry of Cartier devotee to go on display

An exhibition of remarkable pieces made by Cartier for one of the brand’s most devoted clients is scheduled to open at the Hillwood Estate Museum and Gardens in Washington this summer.

The exhibition, called Cartier: Marjorie Merriweather Post’s Dazzling Gems, will be on view from June 7 to Dec. 31.

Marjorie Merriweather Post, who was born in 1887 and died in 1973, inherited the Postum Cereal Company at age 27 when her father died. The company later became General Foods Corp. She was a businesswoman and philanthropist, and was known for her extravagant and lavish tastes that included many homes and possessions.

Hillwood’s exhibition will offer perspective on the taste and refinement that characterized Post’s style, her criteria for collecting and her way of life.

Post began collecting Cartier pieces in the 1920s and remained one of the jewelry house’s most important clients for the rest of her life.

The pieces that will be shown at Hillwood represent some of the best examples of Cartier patronage in the 20th century. Included in the exhibition will be Cartier jewelry Post donated to the Smithsonian Institute in 1964, which are on loan for the display from the institute’s National Museum of Natural History.

“Marjorie didn’t just purchase jewelry off the shelf, she was a connoisseur who knew gems and chose only those of the highest quality. She recognized great design and knew how to wear her jewelry to show it to its best advantage,” said Hillwood Estate executive Kate Markert.

Jewelry highlights in the Hillwood exhibition include a 21-carat Colombian emerald once set in a ring worn by the former Mexican Emperor Maximilian I. The stone was remounted for Post into an Art Deco-style ring set with baguette diamonds.

A brooch featuring seven 17th century carved Mogul emeralds weighing a total of 250 carats will be displayed, as well as a necklace set with 24 baroque-cut emerald drops.

A diamond and sapphire necklace in the exhibition is an example of the transformations Cartier jewels often underwent over time in response to evolving tastes or owners, Hillwood said. The necklace’s centerpiece is a large cushion-shaped sapphire surrounded by cascading diamonds, which can be detached and worn separately as a brooch.

“Post’s interest in Cartier coincided with the very apex of its rise toward becoming one of the 20th century’s most distinguished jewelers,” said Liana Paredes, Hillwood Estate’s director of collections and exhibition curator. “The exhibition of Post’s most important Cartier acquisitions offers a snapshot of the very time at which Cartier in the 1920s boldly embraced the modern sensibilities of the Art Deco period and attracted the interest of the world’s most visible and fashionable clientele.”

Marjorie Merriweather Post

The Obama administration wants to ban virtually all of the elephant ivory trade in the United States.

The ban will impose new restrictions on the import, export, and commercial sale of elephant ivory within the United States, with some exceptions. The exceptions include a narrow class of antiques that are exempt from regulation under the Endangered Species Act, and items imported for commercial purposes before 1990 when international commercial trade in these species was prohibited under the Convention on International Trade in Endangered Species.

Anyone proposing to sell elephant ivory or rhino horn would be responsible for documenting that these ivory or horn pieces are exempt. The Service expects this to be a small fraction of the current domestic trade. Anyone who currently owns legally obtained ivory may keep it.

If rigorously enforced, the new rules should help slow the killings in Africa. The United States is the second-largest market for ivory in the world.



 

Court Okays Gold Hunt on 150-Year-Old Shipwreck

By Rob Bates

It carried one of the largest cargoes of gold ever lost at sea, so much so that it was nicknamed the “Ship of Gold.” And now Odyssey Marine Exploration has been given court approval to recover what it can from the SS Central America.

In 1857, the SS Central America shipwrecked 160 miles off the coast of South Carolina because of a hurricane, killing more than 550 people and taking it with an estimated 14,000 kilos of gold. According to Odyssey Marine, experts believe it still holds a commercial shipment of gold valued at $93,000 in 1857, as well as passenger gold valued in 1857 at between $250,000 and $1.28 million.
Spokeswoman Liz Shows declined to say how much that would be by today's value, but added, “It will be higher than the melt value because of the shipwreck premium.”

An Ohio court granted Odyssey Marine exclusive salvage rights to the shipwreck, the fate of which had been tied up in a long-running legal battle. A company statement said the shipwreck site was discovered in 1987 at a depth of approximately 2,200 meters (7,200 feet). Less than 5 percent of the site was investigated at that time, but an extensive collection of gold coins, bullion, and raw gold was found.

According to The Columbus Dispatch, that first expedition was led by scientist Tommy Thompson, and he and his crew emerged with a haul that was eventually sold for more than $40 million. But investors weren’t paid, and Thompson is now a fugitive.

In 2013, a receiver was appointed, who has now transferred the rights to Odyssey Marine. The expedition will begin in April, Shows said, and use “advanced robotics” to discover the loot.

Fancy Yellow Cushion Cut
Diamond Ring

Cushion Cut Diamonds

The most popular choice for a diamond shape is without a doubt the round brilliant cut.  Timeless and classic, this shape is known for having a bright and blinding sparkle that has been loved by many for generations.  That being said, there are so many more amazing shapes to choose.  Each shape has its own personality and distinct look.  Different personality types, in general, tend to be drawn towards specific shapes.  A shape growing in popularity is the Cushion Cut.

The cushion cut may seem like a new shape compared to the more well known classics.  However, the cushion cut has been around for over 100 years.  This shape is also known as the ‘pillow-cut’ or ‘candlelight diamond’ for its soft and rounded corners.   The proportions on this cut vary from rectangular to square.  Each cushion cut has its own unique and original look and pattern. 

Many of the world’s most famous diamonds are cushion-cuts, such as “The Hope Diamond” (45.52 carat) “The Regent Diamond” (140.50 carat) and “The yellow Tiffany Diamond” (128.54 carat).  Additionally, many modern celebrities such as Jennifer Garner, Molly Sims, Giuliana Rancic and Ivanka Trump wear Cushion Cut Diamonds.