FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
SourcingOct 17, 2018
‘Diamonds Are a Girl’s Best Friend’ Goes for $50K
The trademark and web domain for the famous phrase was auctioned off among other IP and inventory belonging to Firestar Diamond and Fantasy Inc.
A grouping of rings and wedding bands manufactured by Firestar Diamond Inc., one of the three U.S.-based, Nirav-Modi-owned companies that filed for bankruptcy earlier this year. Intellectual property and inventory belonging to Firestar and Fantasy Inc. were sold between Sept. 26 and Oct. 4. (Photo credit: Firestar Diamond Inc.)
New York—Intellectual property and loads of engagement rings, wedding bands and other diamond jewelry made by Nirav Modi’s former companies have been sold.
Richard Levin, the trustee handing the Chapter 11 bankruptcy case for Firestar Diamond Inc. and Fantasy Inc., said he conducted sales of Firestar and Fantasy inventory between Sept. 26 and Oct. 4 in New York.
Among the items finding buyers was the trademark on and web domain for a well-known song with the word “diamonds” in the title.
Court papers filed Sept. 27 show that a company called ABG Intermediate Holdings 2 LLC paid $50,000 to use “Diamonds Are a Girl’s Best Friend” in the United States, Canada and the European Union.
According to Moody’s, ABG Intermediate Holdings 2 LLC does business as Authentic Brands Group, a New York-based company that owns more than 30 brands including Neil Lane and Judith Leiber as well as Marilyn Monroe, meaning it owns the right to make and sell products bearing the late actress’ image and likeness.
Monroe is the one who made “Diamonds Are a Girl’s Best Friend” famous, singing it in the 1953 screen adaptation of “Gentleman Prefer Blondes” while surrounded by well-dressed men offering her jewels.
Authentic Brands Group did not respond to request for comment on its future plans for “Diamonds Are a Girl’s Best Friend.”
All told, the late September/early October sales of IP and inventory that once belonged to Firestar Diamond and Fantasy Inc. totaled about $5.7 million.
Closeout company SimplexDiam Inc. bought a big chunk of the inventory that was offered, paying $1.9 million for 28 lots of jewelry that included diamond engagement rings and wedding bands, court records show.
CEO Yogesh Madhvani said the company will have the bulk of what it bought available for purchase at the upcoming JIS Miami show, which is scheduled for Oct. 19 to 22 at the Miami Beach Convention Center.
Other significant purchases included:
— KGS Jewels Inc. paid $340,000 cash for three lots of intellectual property, including two proprietary diamond cuts, the “Patriot Star” and “A Perfect Cut;”
— H.K. Designs paid $169,000 cash for the trademark on “Diamond Hub,” an Amazon storefront;
— JewelEx New York Ltd. bought the IP for Firestar’s contour band for $410,000;
— Diamond Traders International Ltd. bought 13 lots of jewelry, castings and findings for about $850,000 total; and
— Fairway Diamond Inc. bought 10 lots of loose diamonds and
jewelry for a total of $543,700 in cash.
Levin said the items sold represent a “substantial portion” of what remains of the two companies, which filed for bankruptcy back in February after news broke that the companies’ owner, Modi, had been implicated in a scheme to bilk India’s Punjab National Bank out of $2 billion.
All purchases are subject to approval by the federal judge handling the bankruptcy case.
Levin said he still has “substantial inventory” remaining and is working with advisors on ways to market it.
Levin said the items sold represent a “substantial portion” of what remains of the two companies, which filed for bankruptcy back in February after news broke that the companies’ owner, Modi, had been implicated in a scheme to bilk India’s Punjab National Bank out of $2 billion.
All purchases are subject to approval by the federal judge handling the bankruptcy case.
Levin said he still has “substantial inventory” remaining and is working with advisors on ways to market it.
More on Sourcing
The Latest
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
