The 23-carat fancy vivid blue diamond, set to headline Christie’s May jewelry auction, was expected to sell for as much as $50 million.
Michael Aram Bringing Jewelry Business In House
The brand’s jewelry was manufactured and distributed by Jacmel Jewelry but that will be changing come Feb. 1.

New York--Michael Aram is bringing the license for its jewelry line in house and will be handling the manufacturing and distribution of the product going forward, company President Terri Eagle said last week.
A company known for high-end home décor and metalware designed by its eponymous founder, Michael Aram launched a fine jewelry line in 2014 and licensed the manufacturing, distribution and branding to Jacmel Jewelry.
New York-based Jacmel also holds ownership in the Stephen Dweck brand, manufacturing its licensed jewelry lines at factories in China and Thailand.
Now, Eagle said, Michael Aram jewelry will be made by the same Bangkok-based manufacturers that make the company’s metalware and home accessories, with Aram still handling the design.
In addition, the company has hired Liz Paris as vice president of sales for its jewelry division.
She also has held positions at Sydney Evan, Charriol and David Yurman, where she overlapped briefly with Eagle.
The transition will be effective Feb. 1.
“We’ve had a wonderful relationship with Jacmel but decided it was time to fold the (jewelry) business into our own business,” said Eagle, who came to Michael Aram in April 2015 with a jewelry background. “The timing was right for us.”
Commenting on Michael Aram’s decision, Jacmel Jewelry Vice President Tom Milillo said: “It’s been a great partnership and I wish Michael much success with the collection as they move forward.”
Michael Aram jewelry is sold at Neiman Marcus--where the designer’s metalware and home collections are prevalent--Bloomingdale’s and Little Switzerland in the Caribbean as well as at more than 20 independent jewelers.
The company also sells its jewelry at the Michael Aram flagships in New York and West Hollywood, California and online.
Eagle said the company will be exhibiting at the Couture show in Las Vegas again this year, with an eye on distributing to a few more select independent retailers.
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