Back in February I mentioned that Graff Diamonds had cut the the 603-carat Lesotho Promise diamond into 26 smaller diamonds varying in size from .52 carats to 76.41 carats each with a D Flawless grade (a total of 223.25 carats). Graff is in the process of turning the story of the 18 months of cutting and polishing the stones into a book and documentary. Now they have turned these those stones into one spectacular necklace, The Lesotho Promise Necklace.
The Lesotho Promise, mined at the Letseng mine in Lesotho, is the 15th largest rough diamond ever recovered and was sold to Graff and its partner polishing company Safdico for $12.36 million in October last year. The necklace is part of the company's display of magnificent jewels in Monte-Carlo and is available for viewing until August 10 at the Salle Empire, Hotel De Paris in Monte-Carlo along with rare gems from Graff's collection including The Flame, a 100-carat pear-shaped D-flawless diamond.
The stones are valued at $50 million but a value hasn't been given for the finished piece. Laurence Graff has vowed not to split up the set of diamonds and so this necklace has a small set of potential buyers, people in the world with the wherewithal to afford it. Monte Carlo seems the perfect place to display it to the wealthy.
Cher recently put her Malibu estate on the market for $45 million and we have covered her former Miami home before, now let's check out another of Cher's fabulous cast-offs. Today's estate is in Key Biscayne, Florida. The six-bedroom home is located on the water and has a man-made private beach and 100 feet of water frontage. Still can't get enough water? The home also has an infinity cascade pool and a separate spa. The home is designed to take advantage of the weather with multiple terraces and many windows. White walls, light wood floors and dark wood and white furnishings along with some interesting contemporary art gives the home a modern look. Cher's former home is listed at $12.9 million.
Like Giorgio Armani, Ralph Lauren is a white-haired gent with a reason to smile. Today, Polo Ralph Lauren Corp announced a first-quarter profit increase of and raised its full-year earnings guidance. For the past three months, , income rose 7.8 percent to $95.2 million and total revenues were up 4 percent to $1.11 billion from $1.07 billion. Lauren himself is bullish on the future and mentioned recent partnerships with high profile events such as Wimbledon and the Olympics as part of the secret to their success. Based on the strong numbers the company upped fiscal year 2009 earnings per share guidance to between $4 and $4.10 from a prior estimate of $3.95 to $4.05. Up next for Polo, a launch into one of the world's rising shopping destinations, Istanbul. The first freestanding Polo Ralph Lauren boutique opens there this October.
The latest hot iPhone application that has caught everyone's attention is the "I Am Rich" app by developer Armin Heinrich. The app costs $999.99 and displays a glowing ruby-like light. and the words I Am Rich. Open it and it will load which Heinrich calls a secret mantra that may help you you to "stay rich, healthy, and successful." Ridiculous? Certainly, but rather clever too and subtler than having Amosu hook you up with a diamond or gold-covered iPhone.
Technologizer is conducting a poll on whether or not the app should be pulled from the App store. So far it looks like most are in favor of keeping it.
Part of the fun of writing up a piece on Christian Dior Couture is the chance to showcase a photo yet another of the fabulous designs of John Galliano. As WWD reported last month, haute couture is hot right now, bearing out the trend that while mid-level luxury is faltering, all is well at the top of the market. Now Christian DIor Couture backs that up with the news that first half sales increased 5 percent at constant exchange rates to 366 million euros, or $560.2 million. Dior released a statement saying that they are strong in China, Russia, and the Middle East as well as Europe. The couture news was released with results for Christian Dior Group, the parent of LVMH Moët Hennessy Louis Vuitton and Christian Dior Couture which showed that the revenues at the holding company rose 11 percent at constant exchange to 8.15 billion euros, or $12.48 billion but the group share of net profit dipped 1.7 percent to 352 million euros or $538.8 million. Looks like they'll be turning out these pretty dresses for a long time to come.
The beautiful Chinquapin Plantation in Thomasville, Georgia is a distinctive piece of real estate offering both formal garden spaces and plenty of unspoiled land. The plantation was owned by Alexandra Kauka and her late husband, German cartoonist, Rolf Kauka. A Worth article from 2006 details Kauka's decision to donate some of the land next to the estate. The home itself is located a bluff overlooking the Ochlocknee River. The Mediterranean-influenced main-house offers nearly 18,000 square feet of wide verandas, porches, public rooms for entertaining and numerous private wings and suites. The home was completely remodeled by its present owner in 1981 and then restored and expanded in 2000. The property includes a separate three-bedroom guest cottage located across the motor court from the main-house, six tenant houses, a pool house with solar-heated saline pool, four-car detached garage, barns, stables, kennels and a skeet range. The listing doesn't give a price.
Now you no longer need ice or a refrigerator to keep your Champagne cold. Veuve Clicquot has come out the with icebox, a bright yellow box that contains the Champagne, two flutes and a couple of chemicals that react together when you snap the seal, creating a reaction that cools the bottle. The reaction only happens once and the set costs £99 at Selfridges.
Veuve Clicquot has created a lot of unique designs in the past few years, check out the gallery below for a small sample.
A rare piece of real estate is up for sale. The Mondsee or Moon Lake is one of the last privately-owned lakes in Austria and enjoys a secluded location in the mountains of the Salzkammergut region near Salzburg,. The small lake is a little less than a mile wide and close to seven miles long. The owner Nicolette Waechter is ready to sell the property which has belonged to her family since the 18th century. She receives rental income from those who rent out each piece of land, bankside or pier. She grew tired of the amount of work required to manage the land and called the Austrian Federal Forestry Service, which owns many lakes in the country. They made an offer to manage the lake for her for free for two years and before making an offer to buy. She has refused that offer but has many others to consider. Rumors put the potential price of the lake at about 16 million euros.
Around two years ago I first brought you the story of The Shire, a Hobbit-themed development in Bend, Oregon. But two years ago there was no real estate crisis and now The Shire is facing foreclosure. The Bend Bulletin reports that the notice of default was recorded last week in the Deschutes County Clerk's Office on the 31-lot development. The original developr Ron Meyers sold his share in the development to Dr. Lynn B. McDonald and his wife Jan. They had taken full ownership in May but Dr. McDonald died July 7 and Jan McDonald is trying to sell off the 14 developed lots before the public auction of the six-acre property on December 2. The default notice says the family owes Umpqua Bank $3.4 million on the project.
The project includes stonework, artificial thatched roofs, and a network of gardens and streams with a pathway leading to a central courtyard. It as gotten plenty of media attention but just one home has sold for $650,000 since the project broke ground in fall 2006. Another, the Butterfly Cottage shown above, is listed at $899,000. It overlooks an amphitheater and has modern touches including bamboo flooring, a Japanese soaking tub and granite countertops. There is also a "hobbit hole" in the backyard for storing garden supplies.
The project seems to have gotten plenty of people stopping by to look but not many people buying. It's unclear what will happen to the Tolkeinesque theme of the development when new investors take over.
I've got a ton of pictures on this one but it's worth it. The Bader House is billed as the ultimate bachelor house and indeed, I think just about anyone would swoon if invited inside. This home is the ultimate in modern design and Hollywood glam. Located in the hills in West Hollywood and perched above the Sunset Strip, this one has all sorts of features designed to tempt. The floor-to-ceiling walls of glass show off sparkling nighttime views. Super sexy architectural details includes a parking spot in the living room, a mechanical dining room table, and a sensuous fire elevating from an open pit. The home has just two bedrooms but it does have a home theater and a gourmet kitchen. At $5.995 million, it could make some Hollywood lothario and his Porsche very happy.
Remember B sides, the flip side of a 45 record or cassette that featured a song that wasn't as popular but was, in many cases, better than the single on the other side? Don Sebastiani & Sons is applying that concept to wine with a new wine brand called "B Side." The first release of B Side Cabernet Sauvignon features grapes from vineyards on the "flip-side of Napa Valley" a few miles from the "glamour wineries along Highway 29." The grapes are sourced from areas such as Pope Valley, Chiles Valley, Wooden Valley, Stags Leap District and lower Calistoga. The vines in these areas yield smaller, more concentrated fruit which create Bordeaux-style Cabernet Sauvignons with classic berry and cassis flavors. The 2005 vintage is described as having classic Bordeaux aromas of currant and ripe plum and recommended pairings include braised short ribs with horseradish and parsnip mashed potatoes, Miso glazed black cod over steamed rice with spring onion dim sum, or arugula salad with fresh strawberries, goat cheese and black pepper.
There were 9,860 cases produced of the 2005. B Side Cabernet Sauvignons will be sold at price points from $20 to $30 a bottle and will be offered mainly at upscale restaurants and key independent retailers.
Last week marked the annual JA NY Summer Jewelry Show in New York and the news for most jewelers isn't good. While the upper end of the market (pieces over $20,000 continues to stay afloat) the middle o the market has eroded. Like we have seen with handbags, clothing and other luxury goods, the sharp spending decrease by the "aspirational" customer who generally spends $1,000 to $10,000, is having a huge impact on the market.
This particularly effects some of the big branded designer jewelry. An article in WWD notes that retailers have reported that customers are back to being concerned about what the piece is made of (which stones and metals) rather than being focused on a brand name. Many are seeking what they believe is a safe investment such as gold or diamonds.
Some brands are increasing their upscale lines as a way of staying afloat. One brand, Faraone Mennella whose gold earrings shown at right sell for $1,420 at Neiman Marcus, is now aiming higher with items like a $110,000 diamond cuff to be featured in Saks Fifth Avenue's holiday catalog. Other jewelers are taking the opposite approach such as Daniel K., which has until now sold exclusively diamonds and platinum but recently launched their lower priced Prêt-á-Porter line that features pavé diamonds and other gemstones set in gold (see our gallery of their pieces below).
One of the biggest trends in the last few years, the self purchase of jewelry by women, seems also to be shifting. The WWD article quotes Katey Brunini, founder of K. Brunini who says that the self-purchase has pretty much dropped out and many of her sales are now gifts. The gifts may be what continues to keep the market afloat in the U.S. because although the market is changing there will always be gift occasions that call for jewelry.
The latest in the line of minimalist bath accessories from Denmark's Vipp is this ultra-sleek laundry basket. The basket is available in white or black lacquered steel and rubber and has a rounded shape similar to the classic Vipp pedal bin. The lid is made from brushed stainless steel and is perforated for air circulation. Inside there is a removable dual-section inner bag for sorting. The basket also has hidden rubber wheels. At $625, this laundry basket costs as much as some washing machines.
I've been talking about this estate since way back in 2005. That's when basketball star Shaquille O'Neal first started trying to unload his house on Miami's prestigious Star Island. O'Neal bought the home in 2004 for $19 million soon after joining the Miami Heat. The WSJ's Private Properties column reports that the home was built in 1992 by Heat center Rony Seikaly. The home does have a certain gargantuan scale but that's not unusual in some multimillion dollar South Florida homes. It has eight bedrooms, an indoor basketball court, gym, steam room and sauna. The 2.5 acre grounds include a tennis court, six-car garage, dock, two-bedroom guest house and Shaq's pool complete with Superman logo. The home is lavish but not particularly distinctive, money used to its blandest potential. The price is now $29 million. If I were to take a bet on a final selling price, I'd guess that Shaq's going to have to cut a few more millions off this one. My guess is $23-$25 million.
The new Aviator hotel in Farnborough, England has dubbed itself the "UK's sexiest airport hotel." The hotel is located at TAG Farnborough, an airport that caters to private jets and business travelers. The Tines Online recently checked it out, finding that the building, which looks like a plane propeller, has a distinctive charm. The hotel, founded by the people behind the Malmaison and Dakota chains, has 150 rooms spread over three floors, with 19 suites on the fourth floor. Rooms include Bose sound systems, flatscreen TVs, large beds and wifi. Suites have both a bathtub and a power shower. The hotel includes two bars, one for the suite holders only and one for the rest, The Brasserie which serves seasonal menus.
The TImes Online reviewer deemed the hotel very stylish indeed but questioned whether those landing at Farnborough might just truck on to London instead. Now at least, weary travelers have the option of an elegant stay without a long car ride. Rates start at £195.
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Now you no longer need ice or a refrigerator to keep your Champagne cold. V
