Thursday 13th December 2018

Resource Clips

Posts tagged ‘sapphire’

Can fake diamonds prop up this bra’s padded price?

November 12th, 2018

by Greg Klein | November 12, 2018

They’re not real. So will all that hype about the diamond-studded Victoria’s Secret Fantasy Bra simply result in a big flop? The question arises after an expert’s appraisal determined the garment’s price has no foundation.

The lingerie purveyor’s been promoting its fantasy bra by emphasizing a $1-million price tag supposedly justified by over 2,100 diamonds totalling 71 carats strung together with silver. But the stones are Swarovski Created Diamonds, a prominent name in the lab-grown diamond world but lab-grown diamonds nonetheless. That has at least one gemologist challenging Victoria Secret’s price.

Can fake diamonds prop up this bra’s padded price?

Prior to its runway debut, model Elsa Hosk
shows the $1-million bra on the Today Show.

“The overvaluation of the bra is very clear because of what we know about the price of synthetic diamonds,” Grant Mobley told Page Six Style. “Currently selling for $800 per carat, the reported 71 carats included in the bra would only be worth $56,800. When you add the price of the stones to the cost of workmanship and the price of the metal, the total value would still be far below six figures.”

Bolstering the case for genuine gems, he added: “Only natural diamonds from the earth would put the value of the bra into the millions of dollars, as in past shows.”

Page Six had previously noted that Victoria’s Secret priced its 2017 fantasy bra, Champagne Nights, at $2 million. That one enhanced its contents with 600 carats of genuine diamonds, along with yellow sapphires and blue topaz set in 18-karat gold.

Even more pricey apparel comes to consumers from Passion Jewellers Dubai. Costing $17 million, a pair of high heels made of leather, silk, gold and 236 diamonds that include two 15-carat flawless D stones constitute “the world’s most expensive shoes,” Barron’s reports.

Now on display in EU size 36 at Dubai’s not-terribly-frugal Burj Al Arab Hotel, the Passion Diamond Shoes will also be available in custom sizes.

The previous record for fantasy footwear was $15.1 million, paid a year ago for a custom-designed pair fashioned from diamonds, gold-painted leather and 18-karat gold thread, Barron’s added.

Read more about lab-grown diamonds.

Bling goes ka-ching with $22-million diamond ring

April 22nd, 2015

by Greg Klein | April 22, 2015

“Unlike any diamond offered at auction before,” according to Sotheby’s, a 100-carat stone sold for $22.1 million in New York on April 21. One of only six “perfect” diamonds above 100 carats auctioned in the last 25 years, the Emerald-cut, D-colour and internally flawless rock, mounted on a platinum ring, outshone a sale of exceptional opulence that totalled over $65 million.

Bling goes ka-ching with $22-million diamond ring

The diamond “captivated people around the world”
but other jewelry also fetched remarkable prices.

“The stone captivated people around the world throughout our extensive travels this spring, but it was a particular privilege to offer it at our New York headquarters,” said Lisa Hubbard of Sotheby’s International Jewelry Division.

The diamond came from a southern Africa De Beers mine, according to media reports. The BBC said the stone took a year to cut, polish and perfect. Rapaport News reported that applause greeted the sale as an anonymous buyer phoned in the successful bid.

“The market for highly important diamonds was in evidence elsewhere in the sale as well,” Sotheby’s added. Another platinum and diamond ring went for $3.3 million, an 18-karat gold, fancy purplish diamond and sapphire ring got $2.4 million and a necklace of platinum, emerald, sapphire, lapis lazuli and diamond pendant “soared past its pre-sale high estimate to $2.6 million.”

Applause notwithstanding, Rapaport described the event as “a quiet sale with a very strong total,” adding that buyers paid “strong but sane sums for top-quality gems and jewelry.”

One day earlier Lucara Diamond TSX:LUC stated it found a 342-carat stone of “exceptional colour and clarity” from its Botswana operation.

Read about diamond supply and demand.

Read about diamond mining in Canada.