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AuctionsJul 10, 2020
10 Jewelry News Stories You Might Have Missed
A big blue diamond sells for $16 million, another big retailer goes bankrupt, beautiful rubies for July, and more.
The “Chrona” ring in 18-karat yellow gold with sterling silver, black rhodium and rubies ($12,200) from Vram was one of the ruby pieces featured in Amanda’s Style File last week (see No. 10 below).
New York—Brooks Brothers and Movado were among the companies that made headlines with their troubles last week, while a tragic story emerged from Myanmar—nearly 200 people lost their lives in a jade mine accident.
But it wasn’t all bad news.
On Thursday, a 12-carat blue diamond soared past pre-auction estimates at Christie’s Hong Kong, Muse Showroom announced a partnership with an amazing actress, and we presented some beautiful ruby jewelry for July.
Read on for more top stories from last week.
1) 12-Carat Marquise Blue Diamond Sells for $16M at Christie’s
The July 9 Magnificent Jewels auction in Hong Kong totaled $39.8 million.
2) Brooks Brothers Latest Retailer To File Chapter 11
The 202-year-old company, known for its classic suits, owns the Alexis Bittar and Carolee jewelry brands.
3) Movado To Lay off Employees Amid Restructuring
The layoffs are part of the watch company’s plan to cut costs amid economic hardships brought on by the COVID-19 pandemic.
4) Landslide at Jade Mine Kills 170+ in Myanmar
Heavy rains prompted the landslide in the Hpakant area last week.
5) Stafford Jewelers, Creative Gold to Close Stores
The owners of both independent jewelry stores have decided to retire after decades in the industry.
6) Muse Showroom’s Newest ‘Have a Heart’ Ambassador Is Cynthia Erivo
The award-winning actress became the talk of Hollywood last year. Now, she’s partnered with Muse on their philanthropic initiative.
7) Major Retailers Call for Mask Mandate
In a letter to U.S. governors, the Retail Industry Leaders Association called for a uniform approach to safety measures amid the coronavirus pandemic.
8) Diamond Foundry Among Those Boycotting Facebook
Hundreds of companies have halted advertising on the social media site to protest its lack of policing hate speech and misinformation.
9) Paycheck Protection Program Deadline Extended
The Treasury Department and the Small Business Administration also released more information about where the PPP money went.
10) Amanda’s Style File: Rubies Bring the Heat
Summer’s warming up, and so are these 20 birthstone jewels celebrating July.
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