Sotheby's and the Steinmetz Diamond Group announced today the creation of Sotheby's Diamonds Sotheby's Diamonds combines Steinmetz's expertise in diamond cutting and polishing along with Sotheby's connoisseurship and international client base.
News-Antique.com - Nov 30,-0001 - July 13, 2005 - Sotheby's and The Steinmetz Diamond Group announced today the creation of Sotheby's Diamonds - an important jewelry joint venture offering the rarest and most desirable diamonds in the world and exquisite diamond jewelry. Sotheby's Diamonds combines Steinmetz's expertise in diamond cutting and polishing along with Sotheby's connoisseurship and international client base. The first jewelry collection will be unveiled in New York and Hong Kong in December 2005.
Patti Wong, who is Chairman of Sotheby's China and Southeast Asia, will be Chairman of Sotheby's Diamonds, which will be overseen by Marc Auclert, head of Sotheby's Jewelry business in Europe and Asia, and Nir Livnat, CEO of Steinmetz.
Patti Wong commented, "This relationship with Steinmetz is a very exciting development for Sotheby's. The Steinmetz Group creates some of the world's finest diamonds and their cutting and polishing skills are legendary. These assets combined with Sotheby's expertise, brand name, international client base and worldwide marketing reach present a compelling opportunity at the highest end of the jewelry market."
"Steinmetz is delighted to be part of this exciting joint venture. The unique retail channel gives us both the opportunity and challenge to excel in the field of exquisite diamond jewelry. Sotheby's esteemed client base will enjoy the best diamonds set in the best designed jewelry," said Nir Livnat, CEO of Steinmetz.
Mr. Auclert, who has 14 years of retail experience, most recently as director of Chanel's worldwide jewelry department, adds, "We expect that our buyers will come from the two sources who have already been active purchasers in Salon Privé: those who want to acquire gem quality diamonds throughout the year, not just at auction, and those who prefer to acquire privately while simultaneously valuing Sotheby's expertise and eye for design and craftsmanship."
Sotheby's Diamonds represents the evolution of Sotheby's existing jewelry retail activity, Salon Privé, which offers jewels of superb quality throughout Asia, Europe and North America. For many years, Steinmetz has been one of the most important clients of Sotheby's and has sold many rare and exceptional white and colored diamonds through Sotheby's, both at auction and privately. Among these was the 100-carat pear-shaped D color internally flawless diamond that sold in Geneva in 1995 for $16.5 million, the world-record price for a diamond at auction. Sotheby's Salon Privé and Steinmetz have also worked together in the past, including most recently in an exclusive selling exhibition held during the weekend of the glamorous Monaco Grand Prix.
Sotheby's Diamonds will launch its collection of diamond jewelry in December 2005 in New York and Hong Kong, followed by events and private appointments in key market centers around the world. The initial offering will include rare and important diamonds and diamond jewelry of outstanding quality and workmanship with prices starting at $100,000. Sotheby's will provide more detailed information and images of the first collection later in the year.
About Steinmetz Diamond Group:
With seven decades of expertise in the diamond industry, Steinmetz has interests ranging from cutting, polishing and manufacturing, jewelry