The 197-carat Russian Crown jewel was the leading lot of Sotheby's white-glove Royal & Noble Jewels sale this week.
Italian Jewelry Designer Pippo Perez Dies at 72
Perez founded his namesake line in 2006.

Vicenza, Italy—During the January 2019 edition of the Vicenzaoro jewelry trade show, one brand suffered the loss of its namesake creator.
Pippo Perez died Jan. 19. He was 72.
Perez was born into a jewelry-making family. His grandfather was a jeweler with a store in Naples, Italy, and his father continued in his footsteps, also becoming a jeweler and designer.
Perez, who, according to a brand representative, operated several businesses around the world, used to produce classic jewelry under the company name Giuseppe Perez.
In 2006, he launched Pippo Perez, what the brand spokesperson called “fun jewelry full of color, (depicting) animals, fish and peppers.”
The line was an antidote to Italian classicism, ushering in a mood of fun and joy.
Perez’s line embodied enjoying life Italian-style, with good wine, good friends and good food. He loved to cook Italian food for his friends around the world, which explains his love of the pepper motif.
“He was always wearing red glasses, a blue jacket and a long chain with lots of chili peppers,” said the spokesperson.
Perez had a design team in place to run the day-to-day operations at Pippo Perez and when he began experiencing health problems in December 2018, did not share many details with company employees.
Still, he was expected to return to work fully this year and was planning business trips.
Last week, he returned to the hospital.
On the brand’s Instagram page a message announcing Perez’s death reads in part: “We want to remember him with the same affection and the contagious smile with which he has always welcomed us into his precious family. The company thanks all who knew him and appreciated his charisma and his character, as a designer and first of all as a man, carrying on his work with his style and his unmistakable signature.”
The Pippo Perez team, which was at the Vicenzaoro show, held a special toast for the designer on Monday.
Perez is survived by his daughter, Gaia Perez.
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