CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
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
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
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
