The Wittelsbach; All tarted up and ready to sell

by Richard W. Wise

Graff Does It again.

Few believed Lawrence Graff would have the chutzpa to recut the Wittelsbach Blue diamond, but we were all wrong. At a cost of only 4.45 carats the recut and renamed Wittelsbach-Graff Diamond has been raised from a GIA graded of Fancy Deep Grayish Blue to a Fancy Deep Blue. Its clarity grade been likewise elevated from VS2 to Internally Flawless (IF). Though I have yet to see the stone’s pavilion, based on the Smithsonian’s press statement, “Throughout the very delicate process of re-polishing this famous stone, great care and attention was taken to retain its original features”, I suspect that Graff recut retained the original double stellate brilliant facet pattern thus retaining the overall look of the original stone. For those of you who don’t know the story of Graff’s acquisition of the Wittelsbach let me refer you back to my previous GemWise. Really The Blues.

Wittelsbach facet pattern. Note the star like pattern on the pavilion.

In its original form, The Wittelsbach-Graff had a distinct window (see image above left) through the culet of the gem.

In an official biography, the claim is made that Graff is the 20th Century successor to Jean Baptiste Tavernier. Readers will recall that my new historical novel, The French Blue, chronicles the life and adventures of Tavernier, the 17th Century gem merchant who sold Louis XIV the blue diamond that would eventually become the Hope Diamond.

Though the identification with Tavernier is debatable, there is no question that Graff has shown himself to be a master of diamond recutting as well as a premier sales tactician. The newly recut Wittelsbach-Graff now sports a higher quality grade than The Hope Diamond. The Hope, though larger (45.52 carats), remains a Fancy Deep Grayish Blue and only VS1 in clarity. By arranging to show the stone, virtually side-by-side with the world’s most famous diamond, Graff also managed to pull off another coup de main. The association with The Hope cannot fail to pump-up his diamond’s provenance—that ephemeral value based upon who owned the stone and what scandals it might have been part of—so that it is now almost equal to The Hope. While putting together this exhibit is, without question, a large feather in the cap of Smithsonian curator Dr. Jeffrey Post, it could mean as much as 100 million to Graff. In a brilliant master stroke, Graff has made the Wittelsbach-Graff the second most valuable diamond on earth and as far as anyone knows, the only one available for sale. Maybe he is the 20th Century’s successor to Tavernier after all.

Re-Cutting and Value:

Graff announced his intention to recut the Wittelsbach just after he purchased it at the… Many aficionados, including this writer, criticized his intention at the time. Many assumed that it would be necessary to radically alter the facet pattern and reduce the weight, to achieve a better color grade and I assumed that Graff would take the opportunity to rid the stone of its prominent window. Graff fooled everyone. According to my sources, the diamond was worked on by three separate cutters beginning with Nino Bianco, who passed away from cancer during the process. Though specifications are not yet available, the probability is that the stone was decreased in overall diameter in order to create steeper pavilion angles. By slightly reducing the overall size he was able to accomplish his goal with just a minor if at 2 million a carat, any loss can be called minor, loss of weight. The Wittelsbach-Graff retains its original look and chances now that it is a Fancy Deep Blue without the “grayish” designation will sell for even more.

How was the Wittelsbach actually recut, how does it look now? For the definitive answer to that question you can rush down to the Smithsonian on January 29th, the first full day the gem will be on display, or stay tuned to GemWise.

The French Blue, A reading straight from the 17th Century

French Blue Reading on Video

6 Replies

Gold Up 65% Since Last Holiday Season, Double Whammy for Jewelers:

Gold prices December 2008 to December 2009. Courtesy Kittco

Jewelers have been hit with a double whammy. Gold prices, which tipped the scales at $800 per ounce in December last year, have topped $1200, a 65% increase in the midst of the worst sales turn down in memory. Note I didn’t mention the Great Depression. Contrary to popular belief, I was not alive during the depression and I have yet to see a soup line in The Berkshires, but I can say that jewelers have taken a big hit. Couple that with the fact that prices are rising rapidly on gold stock and jewelry in general. Jewelers must either increase prices or find themselves unable to restock sold items. For goldsmiths, it means a substantial increase in cost. Materials are normally 30% of the price of finished handmade jewelry.

Platinum Prices Punish Jewelers:

Platinum prices have seen a spectacular run-up since last December. By law, jewelry marked platinum must be at least 90% pure. 14k gold is 58% pure and 18k gold is 75% pure. Added to this platinum is 40% denser, meaning that a 1×1″ cube of platinum weighs 40% more than a one inch cube of pure gold.

Platinum price increases, December to December calendar year 2009-2010

Platinum has unique working characteristic which means it normally takes about twice the time to create a platinum piece identical to one created in gold. Consumers looking to save money on jewelry in white metal should consider 18k white gold. New white gold alloys no longer have the yellowish tint of older white alloys and are pretty much impossible to separate by eye from platinum.

The French Blue, Video Reading Now Available

November 19th, Gala kickoff, reading and books signing for The French Blue hosted by the Edith Wharton foundation, The Mount drew and overflow crowd. Rebekah Wise served as master of ceremonies introducing actor George Bergen, who dressed as the novel’s protagonist, 17th Century gem merchant/adventurer, Jean Baptiste Tavernier, read selections from Richard Wise’s newly published novel. There are three selections: Introduction, Chapter 7 The Diver, Chapter 11; The Dinner Party Coming soon, a Q&A with my humble self.

40 years and 60,000 leagues! From the seraglios of Persia to the empire of Shah Jahan:

Actor George Bergen (left) dressed in a 17th Century costume, poses with Master of Ceremonies Rebekah Wise. Bergen gave a spirited reading of selections from The French Blue to an appreciative audience at The Mount.

From the lands of the Great Mogul of India to the court of the Sun King of France. the true-to-live story of Jean Baptiste Tavernier, Madeleine de Goisse and the world’s most fabulous diamond explode across a panorama of three continents. Signed copies of Richard Wise’s newly published historical novel, The French Blue are now available at the book’s website.

Gala Book Signing, The French Blue, at The Mount

1 Reply

The crowd assembled in Edith Wharton's parlor just before the reading. In the foreground, Hope and Bob Corneau, parents of R. W. Wise goldsmith, Michael Corneau

Knoshing at The Mount. The table was set in the manshion's beautifully restored dining room

The Dining Room at The Mount as it appears when the historical treasure is open to visitors.

Lenox, November 19th.

reading to an overflowing crowd gathered at The Mount, Edith Wharton’s Lenox summer cottage, actor George Bergen, dressed as the 17th Century adventurer and gem dealer Jean Baptiste Tavernier, Baron of Aubonne, read two chapters from my just published historical novel, The French Blue. The novel, five years in the writing, is a fictionalized version of the six voyages of Tavernier which culminated in the acquisition of the Great Blue Diamond that subsequently became the Hope Diamond.

The evening was, for me, a uniquely satisfying experience. Over the five years it took to write the novel, I read it over many times but, few authors get to sit in an audience and listen to their own work interpreted by a professional to an appreciative audience—I savored every moment. The reading, part of The Mount’s ongoing series of readings, was held in Wharton’s parlor. Wine was served in the grand hall and a tasty selection of hors d’oeuvres was offered in Edith’s beautifully restored dining room.

: Richard Wise with neighbors David and Marty Ekstrom

It was an unusually balmy November evening with temperatures in the 50s and The Mount was beautifully decorated for the event. The agenda including an introduction by Rebekah Wise, a reading of two chapters; The Diver and The Dinner Party by George Bergen and ended with a short Q&A with the author.

I would like to particularly thank Susan Wissler,The Mount’s executive director, who along with her staff, Sarah Kogan, Elaine Roberts, Ross & Nynske Jolly, Megan La Marre and Sam Tomashek, made the evening a memorable one.

The event was recorded by videographer Michael Sinopoli and we hope to have a video of Jean Baptiste Tavernier reading two chapters from the novel, posted on The French Blue website; www.thefrenchblue.com, in the near future (More images). Continue reading →

Jewelry Television, Richard's excellent adventure

13 Replies

I arrived at the Knoxville headquarters of Jewelry Television (JTV) at 9:30am Tuesday. My new book The French Blue was scheduled to be debuted that evening and I had come to town for the kickoff . For those of you who have never heard of it, JTV is a 24 hour a day, 500 million dollar a year on-air TV gem and jewelry selling juggernaut. I am not sure what I expected, but I was certainly not prepared for what I saw.

JTV is doing pretty well but it was not immune from the economic slowdown, laying off about one third of its workforce since the economy hit the wall last November.

Adam Bedwell, the book and tool buyer, had made the arrangements and my visit began with a tour. Anyone who has an e.commerce website would be basically familiar with what goes on at JTV. The product arrives, is examined, inventoried, stored, photographed, described and generally made ready for sale. The difference is, at JTV the scale is best described as colossal.

We entered the warehouse. There were gemstones in bins, gemstones in bags and gemstones in well 50 gallon plastic cans all together in a room the size of a basketball court or maybe a football field.

I toured the media department. I have one digital camera, JTV has a bank of them with half a dozen photo technicians clicking away. They have built there own photo setups and some truly remarkable gizmos that show the gemstone or jewelry piece in all sorts of ways including one that they take particular pride in that shows aerial views.

They take quality control seriously at JTV. I met one woman who, using a 200x digital microscope examines every stone sold on air. Every stone? If true, this is truly remarkable given the incredible volume of gemstones that are sold by JTV. Stones that are cracked or chipped are photographed and sent back to suppliers.

The call center is located in a separate building of astonishing dimensions. This is the front line of JTV, when the phones start ringing. Spent some time signing books and talking with several of the representatives. I was impressed by the fact that many of the employees I spoke, phone reps, drivers, security personnel, went out of there way to praise the management of JTV and to tell me how much they enjoyed working for the company.

The JTV offices are setup on an open plan in a series of cubicles. The layout is egalitarian. If you didn’t know who was who, it would have been impossible to tell. No one, it seems, rates a fancy private office.

Finally the time arrived. After makeup and a meeting with the show’s hosts Mandy and Tommy, I went on the air. The company is very proud of their state-of-the-art TV studio and I must say I was impressed. JTV had bought 2,000 paperback special editons together with 500 hardcovers. Adam was hoping for 300 sales, but none of us was quite prepared for what happened. The segments are about 15 minutes each. By the end of the first segment we had sold over 200 copies. “I think we are going to sell out”, said Adam, and he was right. By the end of segment two, one hour later we had sold 495, we topped 500 as we left the studio along with 15 special editions. The best book introduction in two years.

Custom Design, Why Bother?

22 Replies

Recently I had a spirited discussion with a client about custom design. She was interested in buying a fine stone, but really could not see any value in a handmade setting. I grew up in a generation that valued the work of the hand. When we first opened our business in 1978, we basically worked as custom goldsmiths. We made an awful lot of wedding rings for clients interested in having a unique symbol of their unique relationship.

Today, use the words “handmade original” and the client’s eyes glaze over. Nobody cares, its really all about name brands and low prices. “If it isn’t Cartier how can I get it cheaper?” There is also some confusion about the words, custom design, some people think that it is synonymous with handmade, which it is not.

Why Is Handmade Better Made?

Good question. Why would I rather have a badly handmade ring in preference to a well made production piece? The answer is, I wouldn’t. However, assuming a fine craftsman and a well crafted mass-produced piece, whats the diff?

The art is in the process. You buy a fine sapphire and you want a three stone ring. When a craftsman makes a piece of jewelry the process itself is part of the creative effort. As any craftsperson will tell you, during the making process the piece begins to speak to you in many subtle ways.

Consider the center stone. Enhancement is part of the jeweler’s art and the crafting of the actual setting is very important. I have seen gems made more brilliant or deadened by the setting. A goldsmith can build a setting that will make the color deeper or lighter or increase or decrease its brilliance and scintillation. If you have a $10,000 stone, spending an extra $500 to make it look like a $15,000 stone makes a certain amount of sense. Recently we reset a 7 3/4 carat Burma sapphire. The stone was valued in the six figures. The setting actually made the already rich blue hue, even richer.

Computer Aided Custom Design:

The Lotus. One of our signature settings. Much more graceful than the standard four prong head, the Lotus can be shaped to correct any light leakage from the pavilion of the gemstone and improve the hue/saturation and tone and actually increase the brilliance and scintillation of some gems.

Can a computer do custom design? Certainly, but it rarely does. A Computer Aided Design CAD program is only as good as the person manipulating it and that person is rarely a designer or master craftsman. Just as an image drawn with a pencil and one painted with a brush looks different, a CAD design even when created by a talented designer, always bears the signature of the machine

Most “custom design” offered by commercial jewelers differs little from the process of selecting parts from a catalog, a center setting from column A, a shank from column B. The difference is the parts are stored in a CAD library—a few mouse clicks and you have it—out pops a wax. Commercial jewelers have embraced this technology, it saves having it in inventory.

Enhancement is part of the jeweler’s art. The Lotus Setting pictured above is a good case in point. This is one of our signature settings. It can be shaped and proportioned to correct light leakage from the pavilion (bottom) of the gemstone. Properly engineered (shaped and angled) the lotus can enhance the color (hue, saturation and tone) of a gem and/or pump up the brillance and scintillation of the gem. In the sapphire ring at the top of this post you can see a square lotus that looks quite different from the drawing. Can a lotus be made by machine? Yes, but without the subtle engineering that requires the hand and eye of a master, it’s just another pretty face.

Custom handmade pieces are the creme de la creme of fine jewelry. Art is a process that speaks to the maker. Computer Aided Design (CAD) may technically fit the definition of custom but it rarely more than construction by catalog and it will never replace the eye and the hand of a fine artist/craftsman.

From The Sun King To The Smithsonian, The Epic Journey of The Hope Diamond

7 Replies

On a dark night in September of 1792, someone made off with the 69 carat French Blue diamond. Confiscated from King Louis XVI by the revolutionaries of the French National Assembly, the gem, along with the rest of the French Crown Jewels, had been secreted in a royal storehouse for safe keeping. Many of the gems stolen that night were subsequently recovered by the French government. The French Blue was never seen or heard of again.

Read the complete article: HERE

Chinese Pearls; The Re-emergence of Quality!

4 Replies

Chinese History

10mm Freshwater pearls, R. W. Wise, Goldsmiths. Photo: Jeff Scovil

10mm Freshwater pearls, from the R. W. Wise, Goldsmiths Collection. Photo: Jeff Scovil

Its been a long, long road. The first known account of pearl culturing in China dates to 1086 (Donkin 1998). In modern times, China has been producing commercial quantities of freshwater pearls since the 1970s.

From the early 70s the best of the small production coming from a small number of Chinese farms were sold to the Japanese. The pearls were almost impossible to tell from the expensive Lake Biwa production and once they reached Tokyo, they were miraculously converted to Japanese pearls and sold as such. By 1978, fully 60% of Japanese “Biwa” exports consisted of pearls made in China (Strack 2006).

By the mid-80s a few Chinese freshwater pearls leaked out of the pipeline. I recall buying from one dealer in Tucson, small 5-7mm single button and egg shaped pastel colored pearls with the metallic luster for which they have since become famous. By the late 80s pioneers like Fuji Voll of Pacific Pearls was bringing in 7-9mm high luster, smooth buttons which could be easily matched and sold at very big markups. The problem of dealers is that more kept coming, they kept getting bigger and better and prices kept falling.

Then in the late 80s culminating in 1994 large numbers of round 9-14mm suddenly appeared in the U. S. market. Prices were all over the place. I saw some exceptional 9-10mm almost rounds for a couple of thousand dollars as well as similar stands for over $4,000. James Peach showed some amazing singles up to 14mm and exhibited one strand of completely round metallic natural color pastel pearls with an asking price of $85,000. Suddenly everyone became a pearl dealer. Then poof, these high quality round pearls were gone.

The high quality rounds disappeared and left many a newly minted pearl dealer high and dry. What happened. I have heard several stories. According to Strack, more farms were added in 1994 which led to falling prices in 1995, so farmers simply left their shells in the water unharvested for two years resulting in a spike of high quality large rounds. Another story told to me by a dealer: it takes two years to produce a 10mm+ nucleated South sea pearl and five years to produce a non-nucleated 10mm+ Chinese round and the Chinese figured they couldn’t compete. Whatever the reason, high quality rounds disappeared and all that was left at the high end were off-rounds the market dubbed “potatoes.”

Bigger Rounds Are Back:

: Freshwater pearls from China with metallic luster. Photo courtesy: Pearl Paradise

A couple of weeks ago, Jeremy Shepherd of Pearl Paradise sent me two strands of 9-9.5 mm Chinese metallic multicolor and these pearls were truly eight way rollers.

The beads were round, the skin smooth and the luster metallic. These are qualities reminiscent of the mid-90s. According to Shepherd there are indeed larger sizes in production but quality drops off rapidly above 10mm and prices begin to increase geometrically for finer pearls above that size.

Total Chinese pearl production peaked in 2007 at 1,600 tons and have been declining every year since. Production in 2010 is estimated at 1,000 tons approximately the same level as 2004. Seems like the Chinese are working towards higher quality. Continue reading →

Book Review and Yale Symposium, The Art of Adornment

The Gem Merchants, a novel of the gem trade.

The Gem Merchants: Ray Ferguson, Piermont Gem Publications, ISBN: 978-0982103401. $22.95

In Ray Ferguson’s exciting new novel The Gem Merchants, the young protagonist Mark Branson has achieved what every gem dealer dreams of. He is on the scene at the time and place of a major gem strike. In this case, the place is Zambia just as a major cache of emeralds has been unearthed.

Branson, the gem buyer for a small London firm, manages to purchase a king’s ransom in rough emerald crystals, but to hold on to them and get them out of the country, Branson must navigate his way through a series of obstacles including greedy politicians, sadistic military men and a grasping Indian gem dealer .

The book is realistic and well paced. Ferguson show an adept hand in character development and a good sense of place. No mere cardboard cutouts, his characters live , breath and are quite believable. Along the way, the author, himself a gem dealer currently living in Madagascar, teaches us a good bit about the gem trade and how it operates across the world. I highly recommend The Gem Merchants to anyone who is interested in a fast paced, entirely believable and authentic account of the adventurous side of the international gem trade. The book is currently in pre-release and can be ordered at Amazon. http://www.amazon.com/Gem-Merchants-Ray-Ferguson/dp/0982103409/ref=sr_1_2?ie=UTF8&s

Yale Jewelry Symposium

On Friday and Saturday, October 16-17, the Yale University Art Gallery will present The Art of Adornment, The American Jewelry Tradition from the 17th Century to the Present. This symposium will feature several well known speakers including; Marjorie K. Shick, Robert Ebendorf, Janet Zapata, Sharon Church and Yvonne J. Markowitz. I will be giving a talk entitled: The Desire and Allure of Gems. at 2:30pm on the 16th.

Anyone interested in attending can access the symposium program on the internet at: http://artgallery.yale.edu/pages/info/adornment.html

Kindle, will the print book go the way of the parchment scroll?

6 Replies

Well I just bought a Kindle and I am in love. For those few sad Luddites who are unfamiliar, kindle is Amazon’s new e.book reader. It about an inch thick, has a 4×6″ screen and using its proprietary software allows you to download and read any one of 270,000 books. That’s a lot of titles and most are priced lower, sometimes much lower than a paperback. Yes, it seems that Kindle readers, since they already shelled out 300 bucks for the devise figure that nothing electronic is worth more than 9.99.

What we are looking at here is a revolution. The most important thing to happen since the invention of movable type. In its advertising, Amazon brags that you can purchase and download a book in less than a minute and its true. I made my first purchase sitting in the passenger seat of a car. The Kindle works using cell phone technology so you don’t even need a computer to download it. Just access your Amazon account and buy with one click of the little five way doohickey located just to the right of the bottom of the screen.

The French Blue now available on Kindle.

Free Kindle Edition to Amazon Reviewers

Looking for reviews for my new book, The French Blue. If you are a well rated Amazon reviewer and are willing to review the book in exchange, send me an email with a link to your amazon handle and I will send you a Kindle copy.

For more on The French Blue here is a link to a recent interview I did on local TV.

September’s newsletter focuses on sapphire. If you are interested in being on the newsletter mailing list, drop me an email: richard@rwwise.com. Here is a snippet:

September Is Sapphire

The Legend of Kashmir

Kashmir sapphire was first found on a rocky hillock high in the mountains in the Indian province of Kashmir toward the end of the 19th Century.

Kashmir sapphire is known for its “cornflower” color and as in the image above, it has a soft, velvety glow. The characteristic glow is caused by myriads of tiny sub-microscopic floury particles which occur in hexagonal zones (see below left) within the stones and scatter light as it passes through the gem. These zones are one of the characteristics which make it possible for gemologists to identify sapphire from Kashmir. Kashmir sapphire also lacks chromium, the rare earth Element that lends a purplish hue to sapphire from other sources. Thus, Kashmir gems will not “bleed”, or lose color as the light shifts from natural to incandescent. (pictured above right, 5.33 carat Kashmir sapphire set in a platinum ring

Kashmir sapphire was mined out by 1930 and there has been no significant production since. We have several fine Kashmir stones. Give me a call and let’s talk about the legendary sapphire of Kashmir: 800.773.0249 or by email: richard@rwwise.com

GemWise, Gonzo Journalism for Gem Lovers

The Wittelsbach; All tarted up and ready to sell