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Brett Stettner Diamond Investments, 2560 S. OCEAN Boulevard, Palm Beach, FL (2026)

06/14/2021

World’s first public tender for rare Australian Pink Diamonds

An Australian finance corporation, which currently holds a collection of Argyle’s rare pink diamonds as mortgagee in possession, has asked Yourdiamonds.com, an Australian technology startup founded by Tim Goodman, a former Executive Chairman of Sotheby’s Australia, to sell the stones.

The five pink diamonds ranging from 0.40 carat to 1.01 carat, originally sourced from the Argyle Diamond Mine, are expected to fetch over $1mn. The request to sell the gems inspired Tim to expand the sale to include other pink diamonds originally from the Argyle mine.
A fine Argyle Diamond Mine certified pink oval cut diamond of 4PP colour weighing 0.54 carats estimated to fetch $200,000 – 270,000 at the Yourdiamonds.comTM Public Tender from 21 June – 01 July 2021.
The catalogue will be capped at just 30 pink diamonds. The final accumulated collection will be the subject of high security travelling roadshow around the Australian capital cities. The sealed Tender Bids will be opened at 10.00 am in Sydney on Friday 02 July in the presence of a Partner at international accountants, Grant Thornton.
“We are creating a secondary market. The primary market is strong and the timing is perfect for sellers. Subject to the success of this first project we intend to conduct a Public Tender of Australian pink diamonds twice a year. We may extend the scope to include diamonds of other colours originally sourced from the Argyle Mine,” Tim Goodman said.

06/12/2021

$15.7M Pinky ring: Heiress diamond auctioned after 7 decades in bank

A dazzling pink diamond that had been gathering dust since the 1940s in a bank vault, sold at auction last night for a staggering $15.7 million.

The rare, 9-carat gem, formerly owned by reclusive copper heiress Huguette Clark, was the centerpiece of her personal jewelry collection, which fetched $20.8 million at Christie’s.

The stone, mounted on a ring, was the most valuable pink diamond ever sold in America.

It was part of the second-most valuable private jewelry collection ever auctioned in the United States, just behind the gems that once belonge

STUNNER:This 9-carat pink diamond once belonged to reclusive heiress Huguette Clark.

in the United States, just behind the gems that once belonged to Elizabeth Taylor.

It had been expected to sell for $6 million to $8 million.

“I’m very excited,” said self-proclaimed “diamondier’’ Brett Stettner, 38, the winning bidder, who told The Post he planned to name the diamond after himself.

“I’m going to put my heart and soul into making this stone the best it can possibly be,” he said.

“It’s an honor to have a stone with such a provenance. I’m out for perfection,’’ said Stettner, who he has been working with precious gems since he was 14.

“The diamond will speak to me,” he said. “Right now it says ‘I’m gorgeous, make me better.’ ”

Almost all of Clark’s jewels fetched at least double their estimated value at the auction.

They included:

* A stunning, rectangular-cut, 20-carat Cartier diamond ring that had been expected to sell for about $3 million. It went for $7.5 million.

* A single strand of pearl necklace from Tiffany & Co., estimated to be worth $30,000. It snared $362,500.

* An American-flag brooch, estimated to be worth $40,000, that sold for $80,500.

Clark, who died last May at age 104, hadn’t even looked at any of the jewels since the 1940s, said Rahul Kadakia, head of jewelry, at Christie’s.

After Clark’s death, Kadakia was the first person in more than six decades to enter the Manhattan bank vault where the precious treasures were hidden.

The gem sale is the latest twist in the bizarre life of the heiress, who cut her entire family out of her will, but left $35 million to her nurse. The bulk of her $400 million fortune was left to charity.

06/12/2021

Sotheby’s Sets World Record on Two Fancy Colored Diamonds

Two fancy colored diamonds sold for record prices at auction this week—and they were both bought by the same man.

At Sotheby’s New York Magnificent Jewels auction on April 18, Brett Stettner of Stettner Investment Diamonds bought a fancy blue diamond ring from Tiffany & Co. for $2.4 million, or $687,712 per carat. The 3.54 ct. VS1 marquise fetched the auction’s top bid and went for several times more than its high estimate of $500,000.

According to Sotheby’s, that is a world record per-carat price for a fancy blue diamond, topping the 20.17 ct. fancy blue diamond ring that sold for $9.9 million ($490,952 per carat) at Sotheby’s New York in October 1994.

The previous day, Stettner set a U.S. record when he paid $15.7 million for the Clark Pink, a ring-set, 9 ct. cushion-cut, fancy vivid purplish pink diamond at a Christie’s New York auction.

Stettner says that he feels “humbled” to have won such rare stones.

“These are unique wonderful colored diamonds,” he says. “I am looking for diamonds that I can create value with and pass that value on to my clientele. There are not many stones like these. They are priceless.”

Overall, the Sotheby’s auction took in $43.1 million, the highest-ever total for a spring sale of jewelry at Sotheby’s New York, topping last April’s then-record tally of $39.4 million.

06/12/2021

Kim Kardashian Shares Story Behind Upgraded Engagement Ring

Diamond expert Brett Stettner, chairman of Stettner Diamond Investments, who has worked with Lorraine Schwartz before, told Us that despite Kardashian’s ring being engraved with a tracking number, her chances of getting it back are “slim to none.”

Kim Kardashian-West, wedding ring band detail, attends The Girls' Lounge dinner, giving visibility to women at Advertising Week 2016, at Pier 60 on September 27, 2016 in New York City.

Stettner told Us that the robbers are likely part of a “sophisticated criminal enterprise, like the Pink Panthers, [who] will know how to remove the location numbers [a.k.a. tracking] from the diamond.”

“When a diamond is stolen by sophisticated thieves, they have their own people in the underworld who are cutters. The cutter is not necessarily involved with the crime organization, but they are hired to recut the diamond,” Stettner explained. “The thieves would say their client wants a different shape and to recut the diamond to the client’s specifications,” meaning the ID number “will be removed in the cutting process.”

06/12/2021

This Guy Just Bought $18.2 Million Worth Of Diamonds

Brett Stettner is having a very expensive week.

Stettner, a diamond dealer who runs a diamond investment fund, bought the top lots at both Christie's and Sotheby's jewelry auctions in New York City this week, according to ArtInfo.

At Sotheby's, he paid $2.4 million for a 3.54-carat marquise-shaped fancy blue diamond ring, eight times the low estimate of $800,000.

And at Christie's, he paid a record-breaking $15.8 million for a 9-carat pink diamond ring from the collection of "reclusive" heiress Huguette Clark. It was the most expensive pink diamond ever sold in the U.S.

According to his biography, Stettner has been an appraiser, diamond grader and dealer since the early '90s. He started his diamond investment firm in 1995.

06/10/2021

54ct. Diamond Crushes Estimate at Christie’s

RAPAPORT... The 54.03-carat Chrysler Diamond necklace was among the top sellers at the Christie’s Magnificent Jewels sale in New York, bringing in $5.1 million.

The pear-shaped, D-color, internally flawless stone was originally purchased by Harry Winston in 1958 from the estate of Thelma Chrysler Foy, the daughter of railroad and automotive executive Walter Chrysler. The necklace beat its high estimate of $4.5 million at the June 8 auction, which garnered $26.6 million in total, Christie’s said Tuesday.

Also headlining the sale was the Dancing Sun, a cushion modified brilliant-cut, 204.36-carat, fancy-intense-yellow, VVS2-clarity diamond, the largest originating in North America. The stone sold for $5 million, near the upper end of its valuation.

The Flawless Match, a ring featuring a pear-shaped, 2.52-carat, fancy-vivid-blue diamond and a pear-shaped, 2.43-carat, D-color, internally flawless, type IIa diamond, fetched $2.9 million, within its estimate. Meanwhile, a collection of 19 jewels by JAR, the largest selection of the designer’s pieces offered at auction, went for a total of $5.9 million. That set was led by a diamond bracelet called Branch Under Snow, which achieved $1.9 million, more than three times its high estimate.

The auction house sold 87% of items at the event. Before the live sale, it also held a Jewels Online auction that raked in $3.5 million, with 97% of lots finding buyers.

06/08/2021

Diamond Suppliers See ‘Unprecedented’ Sales

RAPAPORT... It’s almost as if wholesalers want to say, “Pinch me.” Sales have been so consistent and strong since January that they’re comparing it to Christmas. Even as inventory prices keep rising, they are savoring this welcome sales streak — for now.

New York: big business

“We’re breaking records every month,” said Yoni Nitzani, owner of wholesaler Polo Gem Co. in New York. “Every month has been like Christmastime.” In fact, there have been “dramatic” monthly sales increases, he reported.

A shift to big sizes has been driving his business. While a 1- to 2-carat diamond used to be the norm, 4, 5, or 6 carats are now “easy to sell,” Nitzani said. Large matched pairs for studs weighing a total of 4 carats and up are “super strong,” he added, and large fancies are also in demand. Observing a trend for elongated stones, he noted that they were selling across the board in all sizes and categories.

However, buying has been “very challenging, with difficult pricing.” Rounds have been “super, super expensive,” said Nitzani, who is still purchasing “aggressively, even though it requires much more work and effort on the ground with our buyers overseas.” It’s not for lack of goods, he explained. “The supply is there; overseas manufacturers are working full force. It’s a price issue.” And even with excellent sales, margins are lean.

While his hopes for 2021 were high, he stressed that this period of accelerated consumer buying was “not the new norm in the fine-jewelry industry.”

“You can’t build a business based on these numbers,” he said. “I hope I’m wrong, but I think we all know this is not going to last forever.”

Rochester: strong across the board

Andrew Rickard succinctly summed up current demand in one word: “unprecedented.” Rickard, vice president of operations at wholesaler RDI Diamonds in Rochester, New York, cited “the best February, the best March and the best April” in the 20-plus years he had been with the company.

The “easing of requirements around wedding ceremonies” has fueled a boom in engagements, according to Rickard. Many people with disposable income are upgrading their jewelry and making larger purchases as well, he added.

He noted strong business across the board, without “any category underperforming too dramatically.” Rounds were selling well, he observed, and fancies were strong: Ovals and elongated radiants were “hot,” emeralds were “bouncing back” and there was even some demand for marquise and pear shapes.

Yet Rickard was a “little skeptical” about the long term. He had already seen significant price increases, and anticipated “inventory challenges for the remainder of 2021.” The crisis in India has exacerbated the situation and will “trickle and translate for our industry.”

Still, he remained cautiously optimistic about the rest of the year and saw opportunities “with not a lot of barriers.” His strategy consists mainly of “staying in front of clients, opening new doors and helping where we can.” Indeed, he said, “our biggest issue today is inventory — fulfilling orders versus finding orders. That’s a good problem to have.”

Los Angeles: Paying a little more

“The greatest surprise over the last several months is that we expected doom and gloom, but our business is stronger and inventory prices have kept their value — the opposite of what we feared,” said Joseph Ladd, owner and president of wholesaler and manufacturer Ladd Diamonds in Los Angeles, California.

“Now the biggest issue is the difficulty in replacing the same item we sold. We have to buy it at close to the price we sold it for or even a little below,” he explained. Rather than “haggling over a couple of percentage points,” he prefers to “pay a little more for the stone just to have it in inventory.”

06/08/2021

De Beers Raises Prices of Larger Diamonds

RAPAPORT... De Beers increased prices of goods above 2 carats at this week’s sight amid shortages of rough alongside strong polished demand.

Prices rose around 5%, and more in some categories, market insiders told Rapaport News on Monday. Near-gem items also saw significant increases, while prices for other stones under 2 carats were either stable or slightly up.

“They seem to have picked areas where they’ve seen room [for price growth], and they’ve just hiked the prices up,” a source in the rough sector said on condition of anonymity. “For the time being, the market is absorbing it.”

Rough trading has been strong in recent weeks as reduced supply from the large miners has coincided with solid polished sales. The RapNet Diamond Index (RAPI™) for 1-carat diamonds has risen 2.5% since May 1.

Rough above 1 carat has been especially sought-after, with premiums on the secondary market rising while manufacturers look to fill inventory gaps. A backlog of grading submissions at the Gemological Institute of America (GIA) has exacerbated the situation.

The June sight value will be similar to last month’s $380 million as customers snap up the limited goods available at the sale, sources said. Proceeds were higher earlier in the year — peaking at $663 million in January — when manufacturers restocked after the holidays and De Beers had larger volumes available to sell.

“There’s a shortfall in goods,” an executive at an Indian sightholder said Monday. “They’re not able to serve everyone what they’re entitled to.”

Rough demand slumped during the 2020 coronavirus crisis as the global supply chain froze. De Beers chose to maintain prices until August, when it offered deep discounts to encourage sightholders to resume buying. It has since reversed those cuts, gradually bringing prices to above pre-pandemic levels in many categories.

The sight began on Monday and runs until Friday. De Beers was not available for comment at press time.

06/06/2021

12ct. Diamond Crushes Estimate at Skinner Sale

RAPAPORT… A 12.20-carat, marquise-cut diamond was the top seller at a recent Skinner Auctioneers sale, more than tripling its high estimate.

The unmounted, G-color, SI1-clarity diamond fetched $472,000, well above its $150,000 valuation, at the May 18 sale, Skinner said Saturday. The stone came from the descendants of Irene Langhorne Gibson, who is thought to have modeled for her husband, Charles Dana Gibson. The famous American artist and illustrator created the Gibson Girl image, a personification of the feminine ideal that became popular in the late 19th and early 20th centuries.

An antique ring set with a circular-cut Kashmir sapphire flanked by diamonds, which has been in the same family for over a century, also smashed its $20,000 high estimate, garnering $125,000 at the auction.

Meanwhile, a cushion-cut ruby and diamond ring by Van Cleef & Arpels sold for $100,000, double its upper valuation, and a ring by Harry Winston featuring a cushion-cut Colombian emerald framed by pear-shaped diamonds went for $100,000, just over its high estimate.

“The jewelry market continues its upward ascent,” said the US auction house’s jewelry department director, Kaitlin Shinnick. “We’re seeing higher prices across all categories and [are] thrilled by the number of lots beating presale estimates.”

In total, Skinner achieved $2.8 million for the sale.

Categorised in: Latest News, Rough Markets, Stettner In The News

06/05/2021

US Jewelry Demand Bounces Back

RAPAPORT… Midway through 2021, retailers were beginning to plot a path back to normalcy. More than a year has passed since the initial shutdowns, and in the interim, store owners have had plenty of time to reassess and reorganize. Self-purchasing and online shopping have both increased, and custom work continues to be strong, jewelers say. Now, businesses are looking forward to an optimistic summer full of increased digital engagement and a return to in-store experiences.

What customers want

Although the past year was challenging, Christine Weber, owner of Schapell Jewelers in Boulder, Colorado, made the best of it. During the Covid-19 shutdown, she put a new point-of-sale system in place and launched online services, which she said helped her business grow.

“[In 2021], business has been great,” she declared. “The biggest thing that has surprised us is the large-size diamonds we’ve been selling. A couple of 5 carats, and 2 carats. People are getting married more, and a lot of people in general aren’t able to go on their trips. People have stayed at home, and they’re not going out to eat. So they have this extra income.”

Her customers are also self-purchasing, she noted. “I see more women giving themselves permission to purchase things. In our location, we have two-income households, and it’s not just moms staying at home. And they’re justifying it more. They say, ‘My husband bought his bike, and I’m buying this.’”

The only products that aren’t selling well, said Weber, are timepieces. “We’re selling things across the board. Diamonds, gold, chains. But watches have been a little slower.”

Self-purchasing women were also driving business on the coasts. Anna Sheffield, whose eponymous store has branches in New York and Los Angeles, California, has added more fashion items to her lineup.

“In the past, we focused a lot on ceremonial and wedding jewelry,” she explained. “We were sleeping on adding different categories, like necklaces, earrings and bracelets. So I’m adding more personal jewelry. Things that could be bought for yourself. I never had the zodiac represented before in our line, and I added talismans, and emblems of change and love. We’re leaning more into that, and those have been doing really great for us. People want things that feel lasting and distinct and special. And that [fashion] category has been growing.”

She’s also seen an uptick in pearls. “I don’t know if it’s [because of Vice President] Kamala [Harris], but they’re definitely having a moment,” she said. On the flip side, wedding bands have been down, and she’s been seeing fewer bracelet sales. “I feel like bracelets have been the smallest category for a long time, because we spend so much time typing.”

In Gadsden, Alabama, custom mounting and design work have been very popular for Benny McNair, who co-owns McNair Jewelry with his wife Gail. These services have translated into diamond sales, gold mountings, and semi-mountings. “And, of course, on a daily basis, we do jewelry repairs,” he said. “And we do an impressive amount of appraisal work, which is in itself strong. Even out-of-state customers are in our store each week.”

Diamond jewelry in general has been strong, he continued — particularly diamond engagement rings and semi-mountings. “That feeds diamond sales tremendously. Also, the colored-stone market is good.”

‘This year is way more fun’

The shutdown weighed on McNair’s sales for part of 2020, but 2021 was much better. “Second-quarter earnings for 2020 were off about 60% compared to other years,” he said. “However, we more than caught up by year’s end. We had a wonderful year, and [2021] has proven to be a banner year also.”

For Weber in Colorado, the main difference between this year and last is that “this year is way more fun. Our sales have increased significantly, and we’re up about 25%. And people have had their [vaccine] shots, and they seem to stay longer. I’ve had customers say they just come here so they can come out.”

More than anything, the mood this year is upbeat. “There’s so much more optimism,” said Sheffield, who reported having a positive April. “Especially as we hit the warmer weather. At the beginning of 2021, with horrendous weather and California entrenched in the second Covid-19 wave, it didn’t feel like the new year we were promised. But since the weather and the light have come back, and people are starting to be vaccinated, we’re moving toward what normalcy looks like.”

Categorised in: Latest News, Rough Markets, Stettner In The News

06/04/2021

FANCY-COLOR GROUP EXPANDS ADVISORY BOARD

RAPAPORT… Industry veteran Thomas Gelb has joined the Fancy Color Research Foundation (FCRF) as a member of its board of advisers.

Gelb previously worked at the Gemological Institute of America (GIA) before leaving in 2008 to run Harry Winston’s grading department, FCRF said Monday. For the past 12 years, Gelb has been an independent consultant, working with various companies, gem labs and trade groups in the fancy-color diamond industry.

Gelb has written articles on a number of diamond topics, including treatments, synthetics criteria and specific colors of diamonds. He has also evaluated prestigious gems such as the Hope Diamond, the Idol’s Eye, the Agra, the Incomparable, the CTF Pink and the Moussaieff Red, the foundation noted.

“Gelb…brings a wealth of experience and expertise to the foundation,” the FCRF added. “His participation on the board will no doubt contribute to the foundation’s success.”

Categorised in: Latest News, Polished Markets, Stettner In The News

06/04/2021

FANCY-BLUE DIAMONDS TO LEAD PHILLIPS AUCTION

RAPAPORT… A matched pair of fancy-blue diamond earrings with an upper estimate of $770,000 will lead the Hong Kong Jewels & Jadeite auction at Phillips next week.

The diamonds, weighing 1.12 and 1.13 carats, have been meticulously cut to maximize their color, the company said recently, calling these stones “one of the most desirable and sought-after of all jewels.”

The blue diamonds have clarity grades in the range of VVS to VS. Offered in two lots, the items will include a 2.21-carat, fancy-blue diamond pendant that is convertible to a ring and has a high valuation of $770,000.

Included in the June 5 sale will be an Asscher-cut, 10.59 carat, D-flawless diamond ring with an upper estimate of $830,000. The type IIa stone has been cut from a 30.80-carat rough from Gem Diamonds’ Letšeng mine in Lesotho, a frequent source of large and high-quality diamonds. Type IIa goods account for fewer than 2% of natural colorless diamonds, Phillips added.

The spring auction will feature 165 lots in total, and will be held at the JW Marriott, marking the company’s 10th jewelry sale in Hong Kong. It will feature a wide range of colored gemstones, as well as signed pieces from the likes of Harry Winston, Cartier, Van Cleef & Arpels, and Graff.

“The diverse offering of this collection, from the rarest diamonds to the most sought-after iconic designs, will have vast appeal to international collectors and influential tastemakers alike,” said Graeme Thompson, Phillips’s global head of jewelry.

Next week’s Hong Kong auction follows a recent online sale in which the company said it achieved a 100% sell-through rate, demonstrating a highly resilient market for fine-quality jewels in Asia.

Categorised in: Latest News, Rough Markets, Stettner In The News

Brett Stettner Diamond Investments

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