Dubai hosts world’s first pearl forum

The Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre, will host the inaugural World Pearl Forum next month. To be held from February…

The Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre, will host the inaugural World Pearl Forum next month.Dark purple pearls on a granite

To be held from February 17-18, the Forum is set to attract more than 200 pearl specialists from across the world.

According to Ahmed Bin Sulayem, the executive chairman of the DMCC, the objective behind the Forum is to create a long-term platform for international debate on “how to further develop the pearl sector globally, through a cohesive approach to educating consumers and fostering demand for pearls”.

“Through the Forum, the Dubai Pearl Exchange plans to unite the industry by highlighting areas of opportunity as well as identifying integrated programs that will involve all stakeholders of the global pearl trade.”

Meanwhile Gaiti Rabbani, the DMCC’s executive director of coloured stones and pearls, said speakers, supporters and attendees of the Forum have a unique opportunity to help shape the global pearl industry through frank discussions about how to advance pearls as gems and increase the size of the sector.

“We anticipate that this event will galvanise the key members of the pearl trade to better represent the luxury, value, and economic potential of the pearl itself.”

Key speakers at the Forum will include:

• Nicolas Paspaley (executive chairman, Paspaley): Branding a modern classic – The South Sea Pearl

• Robert Wan (Robert Wan Tahiti chairman): Polynesian Black Pearl – The influence in today’s market

• Justin Hunter (founder, J Hunter Pearls Fiji): A new source of Black Pearl

• Dr. Jack Ogden, (chief executive, Gemmological Association of Great Britain): Pearl Distinction: Natural vs Cultured – 100 years of expertise

• Kenneth Scarratt (director of research, GIA Thailand): Challenges of creating a universal grading system

GIA and Jewelers of America join forces

The Gemological Institute of America and Jewellers of America have begun working together to better fulfill their individual missions and directly benefit their constituencies. Under…

The Gemological Institute of America and Jewellers of America have begun working together to better fulfill their individual missions and directly benefit their constituencies.

Under their newly agreement, the non-profit organisations will collaborate in the following areas:

  • GIA will give JA members special access to its gemmology, business management, sales professionalism and bench jeweler training courses.
  • JA will work with GIA’s Jewellery Arts Program to assist in the promotion and fulfillment elements of the JA Bench Professional Certification program, which will undergo a complete overhaul this year.
  • GIA will continue to develop and promote consumer education materials to help support JA members’ professional image, and increase consumers’ understanding of fine jewellery.
  • JA will share its expertise in public and national government affairs with GIA in the form of timely communications and background materials when business responsibility issues arise in the jewellery supply chain or the public sector.

GIA president Donna Baker said GIA’s expertise in adult education and in protecting the public trust through its vital research, gemmological grading systems and reports complements JA’s leadership in ethical, social and environmental issues, as well as in the promotion of jewellers’ professionalism.

 “We believe that by combining forces in this way, we can deliver a rich array of products and services to jewellery professionals, which will help ensure their success in the 21st century, and directly benefit the jewellery buying public as well,” she said.

Meanwhile JA president and CEO Matthew Runci said he looked forward to a long and productive partnership with the Institute as “it will benefit our 11,000 member stores”.

Blue diamond sells for US$24 million

The Wittelsbach diamond, a 17th century cushion-shaped fancy deep grayish blue VS2 diamond weighing 35.56 carats, has sold for US $24,311,190 at Christie’s in London…

The Wittelsbach diamond, a 17th century cushion-shaped fancy deep grayish blue VS2 diamond weighing 35.56 carats, has sold for US $24,311,190 at Christie’s in London – a world record price for a diamond sold at auction.

The Wittelsbach Diamond

The historic Wittelsbach blue diamond.

On the international market for the first time in 77 years, the diamond was purchased by international jeweller Laurence Graff.

According to Christie’s spokeswoman Hannah Schmidt, the Wittelsbach is one of very few diamonds which can claim “17th century heritage, incredible rarity and exceptional beauty”.

She said the diamond, which originated from India, was purchased by King Philip IV of Spain in 1664 and included in the dowry for his teenage daughter, the Infanta Margarita Teresa. After her early death, the diamond remained with her husband, Leopold I of Austria, and then passed through a succession of his heirs.

In 1722 the diamond entered the Wittelsbach family, on the occasion of the marriage of Archduchess Maria Amalia of Austria to the Bavarian Crown Prince, Charles Albert where it was worn by successive rulers in the Order of the Golden Fleece and the Bavarian Royal Crown until King Ludwig III’s abdication in 1918.

In 1931 Christie’s auctioned numerous items from the Bavarian Crown Jewels but the Wittelsbach failed to sell.

The diamond then “disappeared” until 1962 when a jeweller recognised its significance and refused a request to cut it.

Two years later the diamond was auctioned by Christies where it purchased by a private collector, in whose family it remained until last month’s auction.

François Curiel, chairman of Christie’s Europe and auctioneer for the 2008 sale, said the diamond’s price t had topped the previous auction record of $16.5 million for a 100 carat diamond in 1995 in Geneva.

“In the midst of these challenging times, we were thrilled to achieve an historic price for an historic diamond,” he said.

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