World's Ultimate Jewels
Lauren Sherman, 10.03.07, 12:01 AM ET
No gem is created equal.
That's why Chopard's nine-carat blue diamond ring--valued at $16.26 million dollars--costs about 16 times as much as Van Cleef and Arpels' zip necklace, comprised of 50 carats of white diamonds and valued at $1.2 million.
Both pieces play a starring role their respective jewelers' collections, but what accounts for their difference in price? The Chopard diamond is valued at about $1.8 million per carat, while the Van Cleef and Arpels necklace, per carat, rings in at just $24,000.
Of course, $24,000 is nothing to balk at. But as this example illustrates, a bauble's size, by itself, does not determine value.
John King, a gemologist at the Gemological Institute of America, says that the four Cs--carat, clarity, color and cut--serve as a guide when appraising jewelry. However, it's a unique combination of the four--say, a natural blue diamond or an enormous emerald--that really ups the price.
"It's pretty rare when a gem has a distinct combination of the four Cs, say, a big, cloudless stone with a strong, rich color," says King. "There might be fewer diamonds in the world than rubies, but a perfectly clear, expertly cut white diamond may cost less than a strongly-colored ruby, because that's more rare."
Take Garrard's Red Ruby, valued at $14 million. It's no diamond, but this 40.63-carat, heart-shaped Burma ruby claims top spot in the British jeweler's collection.
Setting The Scene
Location also helps determine price. Intercolor USA jeweler Benjamin Hackman--whose New York-based business serves clients worldwide--says that, in different countries, different qualities prove more important when consumers buy gems.
"Americans care most about clarity and cut," says Hackman. "Abroad, that's not always the case. The French, for instance, show more interest in color. Many would rather invest in a rare, pink diamond than a clear-as-day white one."
Some of Hackman's European clients might be particularly fond of DeBeer's Marie Antoinette necklace.
In fact, we're confident that the French queen of excess would have approved of this platinum-set necklace with an 8.05-carat white pear diamond, two yellow oval diamonds (7.06-carat and 5.24-carat, respectively) and a 1.84-carat deep pink accent diamond. All in all, the piece includes 181.1 carats, for $3.7 million--a moderate number on our pricey list.
Even a fool will tell you that for many of the world's top jewelers, one-of-a-kind translates into expensive. But jeweler Tom Heyman of New York's Oscar Heyman says that many of his clients aren't aiming for the priciest piece--they're looking for an original.
That's why his $700,000 one-of-a-kind bird bracelet earns more accolades from admirers than his $1 million sapphire ring, despite a $300,000 price difference.
Heyman says the sapphire ring is classic, but the bird bracelet is special; the former took two weeks to make, while the latter took two months. However, its price has been determined by the stone, not the labor involved.
Can't decide which gem is your favorite? Then turn indecision into an opportunity: Buy more than one.
(http://www.forbes.com/style/2007/10/02/jewels-world-pricey-forbeslife-cx_ls_1003style.html)
Lauren Sherman, 10.03.07, 12:01 AM ET
No gem is created equal.
That's why Chopard's nine-carat blue diamond ring--valued at $16.26 million dollars--costs about 16 times as much as Van Cleef and Arpels' zip necklace, comprised of 50 carats of white diamonds and valued at $1.2 million.
Both pieces play a starring role their respective jewelers' collections, but what accounts for their difference in price? The Chopard diamond is valued at about $1.8 million per carat, while the Van Cleef and Arpels necklace, per carat, rings in at just $24,000.
Of course, $24,000 is nothing to balk at. But as this example illustrates, a bauble's size, by itself, does not determine value.
John King, a gemologist at the Gemological Institute of America, says that the four Cs--carat, clarity, color and cut--serve as a guide when appraising jewelry. However, it's a unique combination of the four--say, a natural blue diamond or an enormous emerald--that really ups the price.
"It's pretty rare when a gem has a distinct combination of the four Cs, say, a big, cloudless stone with a strong, rich color," says King. "There might be fewer diamonds in the world than rubies, but a perfectly clear, expertly cut white diamond may cost less than a strongly-colored ruby, because that's more rare."
Take Garrard's Red Ruby, valued at $14 million. It's no diamond, but this 40.63-carat, heart-shaped Burma ruby claims top spot in the British jeweler's collection.
Setting The Scene
Location also helps determine price. Intercolor USA jeweler Benjamin Hackman--whose New York-based business serves clients worldwide--says that, in different countries, different qualities prove more important when consumers buy gems.
"Americans care most about clarity and cut," says Hackman. "Abroad, that's not always the case. The French, for instance, show more interest in color. Many would rather invest in a rare, pink diamond than a clear-as-day white one."
Some of Hackman's European clients might be particularly fond of DeBeer's Marie Antoinette necklace.
In fact, we're confident that the French queen of excess would have approved of this platinum-set necklace with an 8.05-carat white pear diamond, two yellow oval diamonds (7.06-carat and 5.24-carat, respectively) and a 1.84-carat deep pink accent diamond. All in all, the piece includes 181.1 carats, for $3.7 million--a moderate number on our pricey list.
Even a fool will tell you that for many of the world's top jewelers, one-of-a-kind translates into expensive. But jeweler Tom Heyman of New York's Oscar Heyman says that many of his clients aren't aiming for the priciest piece--they're looking for an original.
That's why his $700,000 one-of-a-kind bird bracelet earns more accolades from admirers than his $1 million sapphire ring, despite a $300,000 price difference.
Heyman says the sapphire ring is classic, but the bird bracelet is special; the former took two weeks to make, while the latter took two months. However, its price has been determined by the stone, not the labor involved.
Can't decide which gem is your favorite? Then turn indecision into an opportunity: Buy more than one.
(http://www.forbes.com/style/2007/10/02/jewels-world-pricey-forbeslife-cx_ls_1003style.html)
