MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
SourcingSep 10, 2018
Inventory, IP Up for Grabs in Firestar, Fantasy Liquidation
Millions in inventory and intellectual property from the diamond companies formerly owned by Nirav Modi will be sold at auction later this month.
This composite diamond ring is one of the many pieces of jewelry up for grabs in the auctions liquidating the inventory and intellectual property of Firestar Diamond and Fantasy Inc. (Photo courtesy of Firestar Diamond Inc.)
New York—Later this month, the trustee in charge of the companies once owned by Nirav Modi will auction millions in inventory and intellectual property from Firestar Diamond Inc. and Fantasy Inc.
According to a notice sent out Sept. 5 by Richard Levin, the trustee in the companies’ Chapter 11 bankruptcy case, the auction consists of more than $15 million in platinum, 18-karat and 14-karat gold diamond engagement and bridal rings; diamond studs in “medium and commercial qualities” set in 10-karat, 14-karat and 18-karat gold; fashion jewelry; and more than $1 million in loose diamonds.
The sale also includes a dozen lots of intellectual property, including the trademark and web domains for the phrase “Diamonds Are a Girl’s Best Friend” in the United States, EU and Canada; the trademark and web domain for “Faith is Forever” in the U.S.; and the trademark for “Diamond Hub” in the U.S., an Amazon storefront that generated $366,000 in sales between March 2017 and February 2018.
There are a handful of patented diamond cuts up for grabs as well, including the “Patriot Star” and “The Opulent Diamond.”
A complete list of the jewelry and IP assets up for auction is available on FirestarAuction.com.
The first live auction, which will include the trademarks and patents and their related jewelry, is scheduled to take place Sept. 26 in New York. Two more auctions of loose diamond and diamond jewelry are scheduled to follow the next week, Oct. 3 and 4, also in New York. (The exact location for the auctions will be disclosed to qualified bidders only.)
Information about how to schedule an appointment to view the jewelry in person before the auctions is available on FirestarAuction.com.
The website also contains links to download the required forms for placing a bid and more information on how the auction process works.
Firestar Diamond Inc. and Fantasy Inc. filed for Chapter 11 bankruptcy protection in February after news broke in India that Modi, among others, was being accused of swindling Punjab National Bank out of $1.8 billion, charges the diamantaire has denied.
Filing with Firestar and Fantasy was diamond brand A. Jaffe, but that company was sold separately to Paramount Jewels LLC and remains intact.
Firestar and Fantasy will cease to exist following the liquidation sales.
While smaller pieces of the companies’ inventory has been sold off along the way—Unique Designs, for example, purchased some diamond jewelry and loose stones—what
Editors' Picks
Sponsored by
is being auctioned later this month is what remains in Firestar and Fantasy’s vault.
The trustee also has filed motions to sell the companies’ merchandise that is out on consignment: the Jenny Packham jewelry currently on memo at the Aurum Holdings-owned jewelry stores in the U.K. (Firestar owned the license to produce jewelry under the clothing designer’s name) and the jewelry on consignment to J.C. Penney.
The trustee also has filed motions to sell the companies’ merchandise that is out on consignment: the Jenny Packham jewelry currently on memo at the Aurum Holdings-owned jewelry stores in the U.K. (Firestar owned the license to produce jewelry under the clothing designer’s name) and the jewelry on consignment to J.C. Penney.
More on Sourcing
The Latest
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
