CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
AuctionsNov 29, 2017
‘Pink Promise’ Nearly Matches Per-Carat Price Record
The 14.93-carat fancy vivid pink diamond sold for $31.9 million, or $2.13 million a carat, at Christie’s Hong Kong sale.
The 14.93-carat “Pink Promise” nearly matched a world auction record at Christie’s Magnificent Jewels Hong Kong sale on Tuesday. Originally 16.10 carats, seller Stephen Silver recut the stone to improve its color.
Hong Kong--“The Pink Promise” diamond, a 14.93-carat fancy vivid pink, sold for $31.9 million at Christie’s Magnificent Jewels Hong Kong sale Tuesday, nearly matching the world auction record for per-carat price for a pink diamond.
That works out to $2.13 million, just short of the $2.15 million per carat a buyer paid for a 5-carat vivid pink diamond at Christie’s Hong Kong in December 2009.
It was the end of an interesting journey for the Type IIa stone’s seller, Stephen Silver, who originally purchased the diamond in 2013 and recut it to maximize its color.
“The work we did on this particular diamond was the most challenging recut in which I have been involved, due to the technical difficulty and large financial risk,” Silver said in a press release. “It is a privilege, however, to work with a world-class team and have my name associated with one of the world’s great gemstones.”
Silver has worked with or owned many important stones, including the Cullinan Blue Diamond necklace, which he purchased in the 1990s and later donated to the Smithsonian National Museum of Natural History.
He’s also recut various colored diamonds, including “The Cranberry,” a fancy purplish-red; “The Million Dollar Pumpkin,” a fancy vivid orange; and a fancy vivid blue diamond. Each of these diamonds ranged from 1 to 6 carats.
Silver has spent his entire adult life dedicated to pursuing his fascination for rare and unique stones. The San Francisco-area native started his career by obtaining a geology degree from San Diego State University before becoming a certified gemologist at the Gemological Institute of America and going on to work at a diamond and colored gemstone company in Los Angeles.
Upon returning to San Francisco, he established an estate jewelry firm for antiques and important stones, which later became a vertically integrated wholesale manufacture and retail business.
When it came to his acquisition of “The Pink Promise” in 2013, Silver had a hunch that the stone, which weighed 16.10 carats at the time of his purchase, could be cut in certain areas to bring out a deeper hue.
It took Silver and a master gem cutter three years of planning and meticulous facet-by-facet cutting to achieve their desired outcome.
Down to 14.93 carats, the GIA certified what was once a fancy intense pink diamond to a fancy vivid pink diamond, the highest color grade possible for a
Editors' Picks
Sponsored by
pink diamond. They also certified the stone as having VVS1 clarity, just under flawless.
“The Pink Promise” represents the largest and most valued project of Silver’s gemology career, he said.
“The Pink Promise” represents the largest and most valued project of Silver’s gemology career, he said.
More on Auctions
The Latest
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair ServicesThe auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024The company also noted record sales in the United States and a strong performance in its jewelry category.
SourcingMar 21, 2025
BrankoGems To Hold Conference in MontanaThe event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.
TrendsMar 21, 2025
Piece of the Week: Marrow Fine’s ‘Til Death’ RingAfter the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.
IndependentsMar 20, 2025
Korman Fine Jewelry’s New Store Is Double the Size The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.
Events & AwardsMar 20, 2025
JCK Rocks to Feature Snoop Dogg, Jason DeruloThe rapper and singer-songwriter will perform at Tao Beach on June 8.
TechnologyMar 20, 2025
Chris Ploof, Severine Ferrari Launch YouTube Video Series“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.
Lab-GrownMar 20, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
FinancialsMar 19, 2025
Signet Jewelers to Close Stores, Cut Staff Amid Declining SalesThe moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.
CollectionsMar 19, 2025
Jessica McCormack’s New Collection Elevates Office WearThe “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.
WatchesMar 19, 2025
Breitling Acquires Another Watch Brand From the 1800sBreitling is reviving Gallet, which was founded in 1826 and is known for making watches used in the early days of long-distance travel.
