Sotheby’s Diamonds, a joint venture that seeks to combine Steinmetz’s expertise in diamond cutting and polishing with Sotheby’s international client base, will unveil their first collection in New York and Hong Kong in December 2005.
Sotheby’s Diamonds represents the evolution of Sotheby’s existing jewellery dealership Salon Privé, which has a presence in Asia, Europe and North America. Patti Wong, who is chairman of Sotheby’s China and Southeast Asia, will be chairman of Sotheby’s Diamonds, andthe new firm will be overseen by Marc Auclert, head of Sotheby’s jewellery business in Europe and Asia, and Nir Livnat, CEO of Steinmetz.
Steinmetz has supplied major diamonds to Sotheby’s for many years both for sale at auction through Salon Privé. The former include the 100-carat pear-shaped D colour internally flawless diamond that sold in Geneva in 1995 for $16.5 million, the world-record price for a diamond at auction.
Sotheby’s Diamonds will be a self-consciously deluxe brand with prices for the initial offering starting at $100,000.
• Some of the world’s most spectacular white and coloured diamonds have been brought together for an exhibition that runs at the Natural History Museum in South Kensington until the end of February 2006.
Sotheby’s strike gem of a partnership
Sotheby’s are to link up with the Steinmetz Diamond Group to expand their current activities in the retail jewellery market.
