Elizabeth Taylor jewelry auction sets world record
New
York--Christie’s first auction for “The Collection of Elizabeth Taylor,” an
evening sale of the late actress’ legendary jewels held Tuesday, achieved a
total of $115.9 million, making it the most valuable private collection of
jewels ever sold at auction.
The top lot of the sale was the 16th century
pearl the “La Peregrina,” which was purchased by an anonymous buyer for
$11.8 million after a pre-sale high estimate of $3 million. The lot set two
world auction records: for a historic pearl, against the previous record of
$2.5 million, and for a pearl jewel, surpassing the $7 million record.
Dating from the 16th century and once part of the crown jewels of Spain, the
La Peregrina (below) is a pearl of 203 grains in size, the equivalent of 50
carats, and was discovered in the Gulf of Panama in the 1500s. Richard
Burton gave Taylor the pearl as a gift in 1969, paying $37,000 for the jewel
at auction. Taylor then worked with Al Durante of Cartier to design a ruby
and diamond necklace fitting of what she called “the most perfect pearl in
the world.”
New York, N.Y.-July 26, 2011
The JA show, Jacob Javits Center~ Governing board elections for the Cultured
Pearl Association of America are held.
Re-elected to another two year term is current President Fran Mastoloni of
Mastoloni Pearls, New York. Fran is the second generation to become
President of the CPAA; his father, Frank Mastoloni is a past President.
Re-elected as Vice President, Peter Bazar, and President of Imperial Pearl,
Rhode Island.
Re-elected as Treasurer, Aziz Basalely, and President of Eliko Pearl, New
York.
Newly elected as Secretary is Jack Lynch, President of Sea Hunt Pearls,
California.
Any questions please call Bo Perry at 888-31-PEARL
Please visit us at www.cpaa.org
President Francis Mastoloni being congratulated by The Cultured Pearl Association of America’s election chairman Richard Reuter of Leys Christie an
CPAA’s Second International Pearl Design Competition 2011-2012
Officially launching during the JCK show in Las Vegas, June 3, 2011, the contest will run through September 1, 2011. Winners will be announced on November 1, 2011. Winning entries will be on display during the AGTA and JCK shows in 2012.
Celebrating one of the worlds most prized and mysterious gems, this contest invites artistic expression inclusive of all pearl varieties. Winners will enjoy award designation along with the prestige of recognition from this world wide event.
The pearl enjoys a rich history steeped in tradition including the reputation as an iconic symbol of style, grace, privilege and influence.
While these attributes have not changed, we envision endless new possibilities for jewelry design and a new affinity for cultured pearls.
The timing is perfect for the CPAA’S Second International Design Competition honoring our beloved pearl.
For complete contest details go to International Pearl Design Competition (IPDC) under PEARLS in dropdown menu
Largest Natural Pearl Ever Offered at Christie’s Dubai Sells for $254,500
Apr. 21 2011 - 10:15 am | 617 views | 0 recommendations | 2 comments
By ANTHONY DEMARCO
Anthony DeMarco
BAUBLEICIOUS
LIFESTYLE
Largest Natural Pearl Ever Offered at Christie’s Dubai Sells for $254,500
Apr. 21 2011 - 10:15 am | 614 views | 0 recommendations | 2 comments
By ANTHONY DEMARCO
One of the largest saltwater pearls ever recorded was sold for $254,500 at Christie’s Dubai sale of Important Jewels on Wednesday. The baroque drop-shaped natural pearl weighing 239.7 grains (59.92 carats) is set with a diamond foliate surmount and comes with a 42-cm. long diamond chain.
It was once part of the collection of Valda Virginia Vaughn Scott, the daughter of an English diplomat and a member of the Alessi family. Her grandfather and great-grandfather served in the Royal Malta Regiment and the Malta Crown Advocate, and they were in turn descended from the Maltese nobleman, the Marquis di Taflia. The pearl’s provenance along with its size, as one of the largest natural saltwater pearls so far recorded, speaks to its value, said David Warren, International Director of Christie’s Jewellery department and Head of Jewellery Middle East.
“Natural pearls of this size are rarely seen on the jewelry market and when offered they attract international interest,” he said. “The buyer is from the region, a traditional hot spot of the finest natural pearl enthusiasts. To date this is the largest natural pearl we have offered in Dubai.”
The auction of diamonds, gemstones, natural pearls, contemporary and signed jewelry, held at the Jumeirah Emirates Towers Hotel, took in more than $3.9 million.
NEWS & EVENTS
Cultured by Luxury Jeweler, Black Pearls Became Chic
By STEPHEN MILLER
Gemological impresario Salvador Assael elevated black pearls from curiosities to luxury jewels.
Mr. Assael, who died April 1 at age 88, moved easily in society circles, where he cut an elegant figure, praising the beauty of his pearls while bestowing small samples on lucky hostesses.
Although he dealt in all sorts of luxury jewelry, Mr. Assael was sometimes called "The Pearl King" for his near-monopoly on gumball-size black pearls he cultured on a private atoll on the Tuamotu Archipelago in French Polynesia.
"He created a market for them from zero to a well-known global desirable product, and that's pretty rare," said Thomas Moses, an executive at the Gemological Institute of America.
Black pearls—more of a dark green-grey according to some—are produced by black-lipped oysters native to the South Seas. They commanded premium prices: In 1992, an Assael string of 23 South Sea pearls in the range of 16-20 millimeters sold for $2.3 million at Sotheby's in New York.
When Mr. Assael's pearls first appeared in a window display at Harry Winston in New York in the mid-1970s, they caused a sensation.
"Pearls were always white, Grace Kelly and Jackie Kennedy pearls," said Stephen Bloom, author of "Tears of Mermaids," about the global pearl trade. "The black pearl is saucy and naughty. It's got this sense of pungent sexuality."
But it formerly had been a rarity, hardly a jewel at all—and most black pearls were dyed, not natural. Only after Mr. Assael lobbied for it did the gemological institute produce a certification standard that buyers of high-price jewelry could depend on. Soon Mr. Assael was advertising them in fashion magazines with the slogan "A new gem is born."
"Mr. Winston put them in his Fifth Avenue window with an outrageous price tag," he said in a press release. "Mr. Winston sold them all!" Van Cleef & Arpels and Tiffany soon boarded the black-pearl bandwagon, and Mr. Assael made a fortune.
Mr. Assael was born into a family of Sephardic Jews who fled Italy prior to World War II to settle in Cuba, where they set up shop in the family jewelry business. After the revolution, they relocated to New York.
Mr. Assael's father sold Swiss watches to American soldiers, and was left with a huge inventory at the end of the war. Salvador Assael took the watches to Japan, where he bartered them for pearls, then set himself up in the pearl-importing business. He became a big buyer of South Sea pearls that came in a of rainbow hues, including silver and pink and green.
He dabbled in other jewels as well and once paid $3 million for a pair of uncut Burmese rubies.
In the early 1970s, Mr. Assael teamed with a French businessman to start his pearl-farming business.
"You make money by being a producer, because when you produce you control the market," Mr. Assael told Forbes in 1995. He founded what is said to be the only Sephardic synagogue in the South Seas at Papeete, Tahiti.
Mr. Assael's competitors sometimes complained (mostly anonymously) of his aggressive business practices, but his famous customers appreciated his rare jewelry. Mr. Assael's office walls were festooned with signed photos of him with presidents going back to Richard Nixon and other politicians, as well as socialites like Evelyn Lauder and Brooke Astor. Also on the wall was Elizabeth Taylor—who the never-shy Mr. Assael claimed had named her signature Black Pearls perfume after his preeminent product.
—Email remembrances@wsj.com
Write to Stephen Miller at stephen.miller@wsj.com
Salvador J. Assael has passed away. Mr. Assael's personal and professional contributions to the pearl world are legendary. He will be missed but his legacy will live on.
Obituary
SALVADOR J. ASSAEL
ASSAEL--Salvador J., on April 1, 2011 passed away peacefully after a brief illness. Born in 1923, Salvador fled Italy with his family in 1938, first to Paris, then to Portugal, where they boarded a ship to Cuba. The family lived in Havana until the communist revolution in 1957, when they moved via Miami to New York where they continued their diamond and jewelry business. A World War II veteran, as a member of Cannon Company, 311th infantry Regiment, 78th Infantry Division, he participated, endured and survived the Battle of the Bulge, December, 16th, 1944 - January 25, 1945, The U.S. campaign in Africa, and the Battle of Remagen in March 17-25, 1945. He received the Purple Heart and other medals for distinguished service from the U.S. Government. 1949 Mr. Assael began trading in left over U.S. Army watches with Japan. He was paid in pearls, which is how he started the pearl business. In 1972 he took over the business from his family, and founded Assael International. In 1973, he became a producer of the Tahitian Black pearls together with Frenchman, Jean Claude Brouillet in French Polynesia. Today Assael International is one of the leading pearl Houses in the world. In June 1998, he became a Chevalier of the Order of Tahiti Nui. He received the GIA League of Honor Sovereign in 1996 and 1998. Mr. Assael was a founding member of the South Sea Pearl Consortium. Mr. Assael was involved in many charities. In 1993 he purchased land for the founding of Temple Dorette Assael in Papeete, Tahiti, the only Sephardic Synagogue in the South Pacific. He gave the only Sephardic exhibit at the Jewish Museum in New York; built the Azata Library in Beer Sheba, Israel; donated a wing of the Sephardic Home's Adult Health Care Center in Brooklyn, New York; donated the Atrium of the GIA World Headquarters in Carlsbad, California and donated a room at "Our House" Hospice in Los Angeles, California. Mr. Assael is mourned by his wife, Christina Lang Assael, his children, Sophia and Robert Lang Assael, and Arlette Assael and his loyal staff Alex Rodrigues, Elisabetta Golonko and Yaneli Gusman. Our sincere thank you to Doctor Ralph Gibson, his dedicated nurses, Moira Turck, Noreen Curran, Mary Ford, Pauline Gilroy, Margaret Gaine, Aneta Konopka and his trainer, Job Berrara. Services will be held on Sunday, April 3rd, at 12 Noon, at Riverside Memorial Chapel, 180 West 76 Street, New York, NY 10023. Phone: 212-362-6600. Shiva will be held at 485 Park Avenue, New York, NY 10022 on Monday and Tuesday from 2pm to 9pm.
Published in The New York Times on April 3, 2011
CPAA Tucson AGTA 2011 Party
click here to view all images from the event on Flickr
CPAA at AGTA GemFair
February 1st -6th, 2011 in Tucson Arizona
On display will be the following:
The Two Thousand Eleven Exhibition of Extraordinary & Incredible Cultured and Natural Pearls
The Winners of the 2010 International Pearl Design Competition
A “Silent Auction” of many different types of Pearls and Pearl Jewelry. Donated by the members of the CPAA to support the CPAA’s Education Goals
The CPAA booth and exhibitions will be on the main floor next to the Smithsonian Exhibit
SMART MONEY MAGAZINE - NOVEMBER 23, 2010
Holiday Gift Guide: The Best of Everything
Pearls
They're not exactly taking over the jewelry industry: With just 2 percent of total U.S. jewelry sales, pearls are still a bit player in the overall market. But they’re holding their own in these cautious times, helped by new shapes and colors—and un-diamond like prices. So while diamond sales have fallen at double-digit rates in each of the past two years, the Jewelry Industry Research Institute reports sales of pearls are steady at about $1.2 billion a year.
Affordability is a big selling point, with prices for a strand of pearls running in the hundreds or low thousands of dollars, compared with upwards of $5,000 for a round, 1.04-carat diamond. But experts say pearls have something else going for them: a culture of innovation. For years the industry standard was the classic white cultured pearl, a safe, if at times dull, choice. But sales of pearls in colors other than white and even shapes other than round now make up about 70 percent of the market, says Kathy Grenier, director of marketing for the Cultured Pearl Association of America. “Pearls can also be very current and modern,” says Sue Bell, senior VP of merchandising for online jeweler Blue Nile.
For the holidays, consider long strands, from 36 to 60 inches, that can be wrapped or worn loosely à la Coco Chanel, and pear-shaped pearls or the slightly off-round pearls that are typically called baroque. While much rarer than cultured pearls, natural pearls also come in a variety of shapes. When comparing pearls of roughly the same size that have a similar blemish-free skin quality, one that is slightly baroque will typically cost a fraction of the price of one that is perfectly round, says Joel Schechter, chief executive of New York–based cultured-pearl firm Honora.
OUR PICK
Black Baroque Tahitian pearl necklace, uniquepearl.com ($1,400)
New
York--Christie’s first auction for “The Collection of Elizabeth Taylor,” an
evening sale of the late actress’ legendary jewels held Tuesday, achieved a
total of $115.9 million, making it the most valuable private collection of
jewels ever sold at auction.
