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OVER 86 YEARS IN BUSINESS Members of: Jewelers of American Independent Jewelers Organization Chamber of Commerce Since 1927, Bowman Jewelers has been the area's premier jeweler offering only the highest standards of quality, style, service, and value. We are excited about the opportunity to serve the Upper East Tennessee area community with our retail location in 2111 North Roan St Johnson City, TN As a third-generation family business, we are committed to continue the legacy. At Bowman Jewelers, jewelry is our passion and that passion is most evident when you visit our showroom. read more- www.bowmanjewelers.com/About-Us.asp

Customs Seizes $6 Million in Counterfeit Van Cleef & Arpels Jewelry

In June, 720 pieces of counterfeit Van Cleef & Arpels jewelry were seized by Miami customs officials, the U.S. Customs and Border Protection (CBP) announced.

The jewelry that was seized has a manufacturer’s suggest retail price of around $6 million.

CBP officers said they selected the shipment for inspection and noticed that the merchandise was imitation jewelry that “bore a false, non-genuine copyright clearly piratical to the federally recorded copyright.

In 2014, the watch and jewelry category topped the CBP’s list of most-seized counterfeit items by value. China is the leading source of counterfeits, followed by Hong Kong. If we go by CBP reports, officers seized about $3.4 million worth of counterfeit goods around the country each day in 2014.

This brings us to a million dollar question, where does this counterfeit jewelry get sold? The easiest channel would be online sales. We take great care while selecting the vendors from whom we buy jewelry making sure everything at our store is genuine and guaranteed PURE.

Elizabeth Taylor’s Trust Sues Christie’s

Elizabeth Taylor’s estate is suing Christie’s, the auction house, over the $8.8 sale of the “TajMahal” diamond, a gift to the late actress from Richard Burton on her 40th birthday.

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The TajMahal diamond was sold by Christie’s along with the rest of Taylor’s jewels and wardrobe in New York following her death in 2011. The collection, which was dubbed the “Crown Jewels of Hollywood,” broke all expectations and brought in $183.5 million to benefit the Elizabeth Taylor AIDS Foundation.

TajMahalPage

But the trustees of her estate have now filed a complaint alleging breach of contract. They claim the anonymous buyer of the TajMahal diamond returned it months after determining that it actually does not belong to the wife of a 17th century Mughal emperor.

According to the complaint auction house had only stated that the diamond was of Indian origin, but it still agreed to cancel the sale. Christie’s then requested that the estate return the proceeds of the sale.

Christie’s violated its own policies when it rescinded the sale, the trustee’s complaint states. “Despite facing no credible threat of legal liability, Christie’s nonetheless rescinded the sale of the diamond. In doing so, Christie’s not only deviated from its usual business practices and its own established policies, but it violated its obligations to the trust, all in an effort to appease the buyer.”

Taylor’s trustees claimed the auction house also refused to pass on $3 million from the sale of another gem called the Bulgari Ring.They said: “(Christie’s) failed to pay the trust the proceeds from the sale of the Bulgari ring in an attempt to strong arm the trust into returning the proceeds that the trust rightfully received from the sale of the TajMahal diamond.”

In a statement Christie’s said: “Christie’s was pleased to create a landmark auction event on behalf of the Elizabeth Taylor Trust that produced over $183.5 million in proceeds for the beneficiaries of the trust – the friends and family of Elizabeth Taylor.This suit stems from Christie’s seeking the return of a small portion of these proceeds due to the cancellation of a single item from that sale, and Christie’s looks forward to a speedy resolution of this matter.”

Ultimate Emerald Cut (100 Carat / D / IF) to be Sold by Sotheby’s

It’s hard to argue when Sotheby calls it Ultimate Emerald Cut Diamond with size of 100.2 ct. color D and internally flawless. Sotheby will auction Ultimate Emerald Cut on April 21st at Magnificent Jewels Sale in New York City; not very often we see a diamond of this size being auctioned.

Described as 'whiter than white' and the 'definition of perfection'

Described as ‘whiter than white’ and the ‘definition of perfection’

Gary Schuler, head of the Sotheby’s jewelry department in New York said in a statement “The color is whiter than white, it is free of any internal imperfections, and so transparent that I can only compare it to a pool of icy water”. He describes this 100.2 ct. diamond as “the definition of perfection”

Lisa Hubbard, chairman of North & South America for Sotheby’s International Jewelry Division, said in a statement “It has everything you could ever want from a diamond. The classic shape begs to be worn, while the quality puts it in an asset class of its own”.

Mined in South Africa and weighed more than 200 carats in the rough

Mined in South Africa and weighed more than 200 carats in the rough

Originally mined by DeBeers in Southern Africa, when found it weighed more than 200 ct. in the rough. It took over one year for current owner to study, cut and polish it. Less than one percent of the world’s diamonds are Type IIa, and they are the most valuable of all diamonds.

 

 

Ultimate Emerald Cut is expected to fetch between $19 million and $25 million. The diamond will be exhibited in Dubai, Los Angeles, Hong Kong, London and Doha, before returning to New York for exhibition in April.

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