Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Esperanza Diamond on AGS Stores Tour
The 4.62-carat stone, found at the Crater of Diamonds State Park in Arkansas, is in the middle of a three-month tour of American Gem Society-member stores.

New York--The Esperanza diamond is on the move.
The 4.62-carat stone, uncovered at Arkansas’ Crater of Diamonds State Park in June, is in the middle of a three-month tour across American Gem Society stores so members of the public can see it in person.
The Esperanza is thought to be the most valuable and one of the purest diamonds ever discovered in the United States, and is the fifth largest diamond ever found at the Crater of Diamonds park. In its rough form, the diamond weighed 8.52 carats, and was half the size of a quarter.
Mike Botha of Embee Diamonds cut the stone in-store at Stanley Jewelers Gemologist in North Little Rock, Ark. It took him 130 hours to cut and polish the stone and he used an 800-pound cutting table.
The D color, internally flawless diamond features a unique 147-facet, teardrop-cut triolette shape that is the first of its kind, created by Botha and inspired by the natural icicle shape of the rough diamond. Jeweler Ian Douglas of Inspired Jewelry Group designed the pendant that holds the Esperanza, and it draws attention to the fact that one end of the diamond is wider than the other.
The stone was on display at Summa Jewelers in St. Louis in November, followed by Stanley Jewelers Gemologist in December.
It just finished its residency at Black, Starr & Frost’s Newport Beach, Calif. location and now will be at the company’s Phoenix salon until Jan. 24.
From there, the Esperanza will travel to Molina Fine Jewelers in Phoenix from Jan. 27 to 31, Whiteflash in Houston from Feb. 3 to 7, and then Jacksonville, Fla.’s Underwood’s Jewelers from Feb. 10 to 14.
With an estimated value of $1 million, the diamond is available for purchase through an open bidding process through Black, Starr & Frost until Feb. 15.
Interested parties can contact Adam Graham, vice president and managing director for the Newport Beach Black, Starr & Frost salon. He can be reached at adam@blackstarrfrost.com or at 949-673-1771.
The Latest

Mohr had just retired in June after more than two decades as Couture’s retailer liaison.

Shekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.

How Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.

This year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.


Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.

As part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.

Roseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.

It marks the third time the country has headed the Kimberley Process. Ghana will serve as vice chair.

The new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.

Its residency at Yamron Jewelers will run through May 2026.

The retailer is expanding into areas with large Indian and South Asian populations.

The Italian brand has opened its first flagship amid the peaks of the Dolomites in Madonna di Campiglio, Italy.

The new curation at the Natural History Museum of Los Angeles County showcases rare gem and mineral specimens in their uncut, natural state.

The couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.

Consumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.

In February 2026, the auction house will move its headquarters to the former Steinway Hall, a neoclassical landmark on Billionaires’ Row.

The new show will take place Jan. 23-25, 2026.

The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.

The LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.

The luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.

The company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.

In the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.

Helzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.

Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.

The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.

Laura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.



















