SimplexDiam Inc. has announced a 73 percent recovery in its auction of small loose diamonds belonging to closed jewelry retailer Fortunoff. The auction of stones 70 points and smaller to the trade took place last month. The result was higher than other recent wholesale auctions in the jewelry industry which have recovered between 35-55 percent of the wholesale cost. SimplexDiam values and purchases diamonds and fine jewelry and has been involved in the bidding for the residual inventories in the cases of Friedman's Jewelers, Whitehall Jewelers and Christian Bernard Stores Corp. The company provide services to small jewelry retailers and pawn shops by valuing and purchasing closeout diamonds and jewelry they acquire from individuals and diamond traders.

More bad news from the hard hit watch/jewelry world. This time it's jewelry manufacturer and watchband seller Speidel. The Rhode-Island-based company filed for receivership last week and all the employees have been laid off . The company's assets will be put up for the sale in the next 90 days. JCK Online reports that the company's largest creditor, Sovereign Bank, is owed $4.4 million.

Speidel also owns the watch repair company Providence Watch Hospital which is now also in receivership. The Providence Journal reports that people who have left items for repair will be notified about how to claim their pieces. The company employed seven watchmakers and five technicians who serviced 55,000 timepieces a year.

Most heart jewelry doesn't feature a realistic rendition of a heart but then again most heart jewelry doesn't benefit real hearts. Anna Ruth Henriques' "Mini Heart" pendant is made from sterling silver and molded in the form of a human heart. The tiny heart is on an organic cotton cord and is decorated with 18K gold and ruby accents. It sells for $395 and proceeds benefit Doctors Without Borders, a well-respected organization which provides aid to people who have been unable to get healthcare by traditional means due to war, disasters and other reasons.

Henriques grew in Jamaica and her great-uncle was an oral and maxillofacial surgeon who worked in the Kingston Public Hospital and told her stories of ill people awaiting care. She also got to meet interns from the U.S. who worked in the hospital and realized that programs like these benefit both patients and doctors. The pendant is available online and at Barneys New York.

[via National Jeweler]

Pink looks great any time of year but there's just something about the heat and lushness of summer that really makes it pop and somehow more fun to wear. This summer the designers haven't let us down and have come up with all kinds fashion fun done up in every shade from pale champagne to neon to deep fuschia. Of course we don't recommend wearing them all at once (lest you look like a wayward Barbie) but we've compiled a pretty mix of pink dresses, shoes, handbags, and jewelry in the gallery below to keep your girly side rolling this summer in whatever way you see fit.

Jewelry designer Theo Fennell has announced that he is returning to the company that bears his name in order to help bring the company back to its former glory. Fennell founded the company back in 1982 but was forced out in 2009 over a battle with the company board over the direction of the company. Now things have shifted dramatically: Fennell is back but Richard Northcott, the chairman of the board who co-founded the company, has resigned as has Viscount Cowdray, a non-executive director, although both will remain shareholders. Joining the company are former Hamley's part-owner Rupert Hambro as a non-executive chairman and Alasdair Hadden-Paton as deputy chairman. Along with Fennell they will own 29.9 percent of the company with Fennell owning more than 19 percent.

The Independent states that since Fennell left sales have fallen at the company. It's impossible to know if that's due to his departure or just part of the jewelry industry downturn but it will likely help to have Fennell back at the helm. Part of the original disputes over company direction were regarding just how commercial the brand should get. With the talented Mr. Fennell in control the focus will likely shift back toward the dramatic, distinctive and expensive pieces that he built his reputation on. In the Independent article Fennell sounds eager to get to work, he says: "My head is exploding with ideas, but it normally is." New collections should be in shops by the end of July.

It's tough out there for jewelers right now. Jewelers that specialize in unique pieces utilizing colored gemstones and more creative designs are perhaps a bit more vulnerable for not focusing the bread-and-butter basic pieces. After seeing some jewelers head for bankruptcy or closure, I decided to celebrate one of the innovators in the business. Canadian couple Julie and Jacob Buckareff who design as JJ Buckar create gorgeous designs using a variety of colored gemstones including tourmalines, sapphires and garnets as well as diamonds. Designs from JJ Buckar have received honors in the 2009 AGTA Spectrum Awards competition hosted by the American Gem Trade Association.

How is the brand faring in the recession? I asked Jacob Buckareff who says that if has "definitely been a rough ride since last November." As you might suspect, he's keenly aware of the fact that brands like Michael Beaudry, Doris Panos, and most recently Henry Dunay have filed Chapter 11. One of the key issues for jewelers is being cautious in whom they extend credit to; in fact, this is something Henry Dunay mentioned in his recent interview on JCK. Buckareff predicts that the brands that do survive the challenging next couple of years will keep a tight leash on spending. He reports that while his company has seem a sharp reduction in sales the fact that they are a small company with low overhead has helped. Like many design companies, JJ Buckar has had to reduce the number of new pieces they are able to complete for stock. Special order commissions including custom bridal designs are helping to keep the company afloat and they also offer custom work to the trade through their casting shop, The Casting Haus. With beautiful designs like the ones in the gallery below, we hope they keep designing for many years to come.

On June 23, a new exhibit opened at the Met: Afghanistan: Hidden Treasures from the National Museum, Kabul. My friend and I were able to go a few days before the opening, thanks to a members-only preview, courtesy of my mother.

History and fascinating story of the treasures' discovery aside (read here if you'd like even more background), I was wowed by the gold. Much of what's on display was discovered either in archeological digs or in a vault in the presidential palace, where citizens with foresight hid the treasures to protect them from war: jewelry, a belt, an amazing crown (shown here; it breaks down into six pieces for easy transport), a dagger sheath, clasps, anklets, rings, pendants, bowls ... the list goes on.

My favorite item, just for the sheer excess of it all -- and proving that showing your status via footwear is not a new thing -- was the pair of gold shoe soles designed to be placed with a body when buried. I guess mere sandals wouldn't do in the afterlife.

My friend and I really enjoyed the exhibit, which features many more items, gold and non-gold, such as glass, ivory and gemstones. But the gold alone is worth seeing if you are in NYC or planning a visit this summer. The exhibit will be at the Met until September 20 and is included in the price of admission to the museum.

(BTW, I also saw the Francis Bacon exhibit while there. He scared me a little, but viewing his work, you can see it's from the mind of a tortured genius.)

Another iconic jewelry company has filed Chapter 11. It has been announced that David Webb filed Chapter 11 yesterday reporting assets of $10.3 million and liabilities of $6.9 million. Diamonds,net had a look at the documents which show that while gross sales for the fiscal year ending June 30, 2008, were $13.2 million, total sales for the coming fiscal year ending June 30, 2009 were not expected to top $5 million. The company estimated operating expenses for the next 30 days at $377,927 with expected sales of approximately $400,000. The "Silberstein Family Partnership" is listed as sole owner of the company. The company has been in business over sixty years and has provided jewelry for some of the most legendary jewel connoisseurs in the world including Elizabeth Taylor, The Duchess of Windsor and Princess Grace. David Webb pieces which often feature animals and naturalistic themes remain some of the most collectible pieces in the jewelry world.

You've seen model Christie Brinkley pitching a variety of products over the years but now in addition to her own eyeglass and fabric lines she has a new line of jewelry. The line, which plays off her initials, is called CeleBrate and is being sold through Ross-Simons, The Christie Brinkley Jewelry Collection includes four different lines, the Floral Collection, Signature Collection, Southwestern Collection and the Inspirations Collection which includes hearts, doves and peace signs in gold and diamonds. Brinkley's initials are incorporated into some of the pieces. Prices start as low as $40 for a simple silver chain while the gold and diamond pieces are over $1,200. Pieces come in a Christie Brinkley gift box with a note from Christie.

[via National Jeweler]

High-end jewelry has been taking it on the chin lately. We've seen several top tier jewelry design companies file for bankruptcy and now one of my favorites has gone Chapter 11. National Jeweler reports that Henry Dunay Designs filed at the U.S. Bankruptcy Court of the Southern District of New York in Manhattan citing that it has 100 and 199 creditors with assets between $1 million and $10 million and liabilities between $1 million and $10 million.

I had a chance to view Henry Dunay's designs at the JCK show in Las Vegas in 2008 and meet Mr. Dunay personally. He's no newcomer to the jewelry world, He started as an apprentice at the age of 14 in New York and has spent over 50 years in the jewelry business, launching Henry Dunay Designs back in 1965. Since then he was won dozens of awards for his designs (including being named the world's best jewelry designer by the Robb Report in 2000 and 2001) and his pieces have appeared in countless magazine spreads and in his coffee table book, "Henry Dunay A Precious Life."

For jewelers dealing in couture design, this economy has been particularly brutal. Materials including gold and gemstones continue to be expensive, production costs are rising but sales are falling. Dunay sells in stores which have been experiencing decreased business including Neiman Marcus and Bergdorf Goodman. Hopefully Henry Dunay Designs will be able to survive this rough patch and get back to the business of making beautiful jewelry.

Apparently Barbie (yes the Mattel doll) chooses endorsements like other celebrities (pseudo celebrity? 10 year old girl icon?). Currently she is supporting Bulgari's support of Save the Children International's "Rewrite the Future" campaign to fund education efforts for children in poverty stricken areas of the world.

In addition to a 1 million euro donation to the Rewrite the Future campaign, Bulgari has created a line of 11 jewelry pieces and 7 timepieces whose sales will help fund their dedication of 10 million euros to Save the Children by the end of 2009. One of the jewelry pieces is a signed silver Bulgari ring with a Save the Children inscription engraved inside the band. The ring will retail for $555. Barbie is modeling the ring - though I don't think you can get that particular size at your local Bulgari boutique.

As a guy I've never played with Barbie dolls, but it looks like she got a bit of a makeover for this Bulgari marketing image as one of the celebrities the endorse the campaign. Or maybe her hair looks like that right out of the box? You can see Barbie showing off her Bulgari ring, which might be one of the most expensive Barbie accessories available. Other celebrities (I am not really sold on the fact that Barbie is a celebrity at all, more like a piece of pop culture) that support the Bulgari Save the Children Rewrite the Future campaign so far include: Julianne Moore, Benicio Del Toro, Ben Stiller, Sally Field, Sting, Willem Dafoe, Rosario Fiorello, Gabriele Muccino, Jason Lewis, Andy Garcia, Valeria Golino, Isabella Rossellini and Debra Messing.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Last October we told you about Secret deodorant's Flawless Diamond Giveaway where they're giving away 10 1-carat flawless diamonds valued at $15,000 each. The diamonds (fake 'stand in' diamonds, of course) are hidden in specially marked Secret deodorants just waiting to be discovered by the lucky winners. Sound exciting? It is, although time is running out -- the promotion expires at the end of this month (June 30th) and as of now only 1 diamond has been found. That means there are 9 more hiding out there somewhere.

Don't let a flawless diamond that should be yours go unclaimed! And no worries about not using up your deodorant stick fast enough -- you can log on to the website and punch in the UPC code to find out if it's a winner the same day you buy it.

I've always thought that when it comes to jewelry, the bridal market was a safe bet even in bad times. After all, people will always fall in love and get married even during a recession. But a new report from the Jewelry Consumer Opinion Council indicates a bit of weakness in the wedding market. Their June Bridal Study" shows that while most people are still going through with their weddings, ring budgets are shifting. Grooms seem more ready to downsize the ring than brides. Of the grooms surveyed, 36 percent have said that their ring budget is lower by fifteen percent or more due to the recession but only 23 percent of brides thought the budget for the rings would be lowered that much.

This isn't the first time I've seen information on scaled back ring budgets. ABC News had a piece earlier this month on the same topic which featured interviews with young couples. Prospective grooms are getting creative, buying rings off Craigslist or swapping out the diamond for something a little less pricey. Some are cutting back on the quality of the ring, sacrificing color and clarity so that they don't have to scale back the size.

Of course you could always try your luck at winning one. GemEx(R) Systems, Inc. has launched the Rock the Recession, Pop the Question contest where couples upload a video showing their most romantic and persuasive plea to get engaged for a chance to win a prize package worth $10,000, including a one carat GemEx certified diamond engagement ring. Submissions will be accepted until July 31.

Carol Brodie is a jewelry designer who spent eight years as Global Director of Communications for legendary diamond jeweler Harry Winston. She's worked with celebrities like Halle Berry, who wore custom-designed jewels when she won Best Actress in 2001, and she helped create Gwyneth Paltrow's look for her Best Actress Award in 1999 -- lucky jewels!

Brodie is now launching her own jewelry line on HSN called Rarities. The collection features beautiful colored stones, and both small splurge prices and more expensive creations like the eye-catching $799 White Quartzite and Diamond Ring at right. Click through the gallery for more of the gorgeous finds.

"After 20 years of working the red carpet and appearing as the luxury and style expert on countless TV shows, bringing a new line of fine jewelry to HSN is simply a dream come true," says Ms. Brodie, who will be appearing on the channel once per month to plug her diamonds, sapphires, rubies, emeralds, amethysts, citrines, and turquoise and onyx stones mounted in gold and sterling silver.

As you can see, all that work with Harry Winston rubbed off -- the results are fabulous. Visit Rarities on HSN to get in on the line before the launch, which will air at 2pm EST on Sunday, June 21.

Think bling is over? Don't tell that to the Pittsburgh Steelers. The rings celebrating their record-setting sixth Super Bowl title are covered in diamonds. The rings created by Jostens have 63 round brilliant-cut diamonds totaling 3.61 carats. The six round brilliant-cut diamonds on the top of the ring celebrate the six victories; the previous year's Steelers Super Bowl rings featured five oval diamonds. The Super Bowl XLIII logo is done on a field of green enamel and six Lombardi Trophies are shown on the side of the ring. Each ring is cast in 14K gold and personalized for the owner. The cost of the rings and the appraisal value haven't been released.