Who Bought What at the Elizabeth Taylor Auction and Why

 I’ve never thought of my jewelry as trophies. I’m here to take care of them and to love them – Elizabeth Taylor

After viewing one of the most complete and magnificent private collections of jewelry, art, memorabilia, accessories and other articles ever amassed by a single person during The Collection of Elizabeth Taylor exhibition at Christie’s New York, I wrote the following:

This collection represents a life well spent. Christie’s presentation of the exhibit makes it seem as if her life’s work was complete.

It’s almost a shame that these items will soon be separated.

However, after attending the two days of the fine jewelry sales (part of the four-day Elizabeth Taylor auction at Christie’s New York along with an “online only” component), my mind has changed.

I met friends of Taylor and those who never knew her. I met people who purchased the product because of their ties to Taylor, because of their fascination with a particular piece, or to use what they purchased in their business. It was auction that attracted some of the world’s wealthiest people, celebrities, top professionals in the jewelry and gems industries, and those of modest means.

Bidders prepare for the opening night auction to begin. Photo credit: Anthony DeMarco

The jewelry and other items amassed will be used in all sorts of ways. The important part is that it appears that the jewelry will be used and that’s the way Taylor, it seems, would have wanted it. After all, this is a woman who wore a 33-carat diamond ring almost every day and who was filmed wearing a priceless ruby jewelry collection by the pool. Taylor didn’t put her baubles away for special occasion, she wore them. And her collection showed an appreciation of priceless pieces along with far less expensive items because she either admired the work or they had personal meaning.

Photo credit: Christie's

Jewelry designer to the stars Lorraine Schwartz bought back the fringe diamond bracelet that Taylor bought from her for her 70th birthday.

“I was wearing it for her party at the Bel-Air Hotel, and she kept calling me over to look at it and to try it on,” Schwartz wrote on her facebook page. “Finally, the next morning she called me and said “‘I know who’s buying that bracelet for my birthday … I’m buying it for my birthday!’”

Photo credit: Christie's

Schwartz also bought a pair of earrings that Taylor’s third husband, Michael Todd, created just for her.

“I could feel Elizabeth nudging me telling me to buy them,” Schwartz said on the auction floor during the second day. “That’s what she used to do. She used to say, ‘go ahead buy it.’ She’d be kicking me under the table (saying), ‘Go ahead. You know you want it.’”

Photo credit: Christie's

Schwartz was very busy for the two days. In addition to what she purchased she lost a bid for one of her pieces and purchased a lot of three of her own bangles for Kim Kardashian, who paid $64,900, well above the high $8,000 estimate. “If you have a piece of jade, the energy goes into the piece and you absorb the energy,” Kardashian said by phone. “So I can feel Elizabeth in the piece.”

Photo credit: Christie's

Companies of course got into the act for the larger pieces. The 33.19-carat Elizabeth Taylor Diamond (also known as the Taylor-Burton diamond and formerly called as the Krupp diamond), a gift from Richard Burton, was reportedly bought by South Korean businessman Daniel Pang for $8.8 million. He was bidding on behalf of E-land World, a South Korean concern. The company plans to exhibit the diamond ring at “E World,” an amusement park in Daegu, according to reports.

Photo credit: Christie's

Bulgari, the Italian luxury jewelry house, bought back $20 million worth of jewels, including a 52.72-carat sapphire-and-diamond sautoir for $5.9 million and an emerald-and-diamond necklace for $6.1 million, according to the New York Post.

Photo credit: Anthony DeMarco

Then there’s the paper jewelry. The gag gift from Malcolm Forbes to Taylor has garnered a great deal of media attention—much of it from me. The suite of paper jewelry had a high estimate of $300. It sold on the second day for $6,875. It was purchased by Jenny and John Caro, owners of Jewelry By Design, an independent jewelry store in Woodbridge, Va.

The couple came to the auction with a $50,000 line of credit and in a few minutes it was obvious they were being priced out of buying any real jewelry. So when the paper jewelry came up on the second day, they went all out to win the lot. The couple is using the paper jewelry along with two jewelry pieces they purchased on the online only auction to create an Elizabeth Taylor display for their customers. The jewelry was chosen because they had pictures of Taylor wearing the pieces in books that will be used in the display.

“We’re a good example of a business doing things, being different and taking risks to help our business grow,” Jenny said in a phone interview.

“You couldn’t go by the intrinsic value of jewels, because the truth is everything was selling so high that what you bought you couldn’t turn around,” she added. “The South Korean who bought the Burton diamond bought it for a business reason. What is $8.8 million when it comes to advertising worldwide? What’s $6,800 when it comes to local advertising?”

Using the Forbes gift as inspiration, Christie’s created its own full-color paper jewelry book with recreations of 15 of Taylor’s most iconic jewels. It ran as a limited edition of 5,000 and was available for purchase in person at Christie’s headquarters during the New York exhibition, which was held December 3 -12. It was sold for $25 each, $5 of which went to the Elizabeth Taylor AIDS Foundation.

Los Angeles jewelry designer Sandra Müller had her own unique story. She first met Taylor as a child while living in Europe and credited the actress with inspiring her to build a life in the jewelry field. Taylor was a friend of her parents. As an adult working and living in Los Angeles, she said she would visit Taylor’s house often as a friend and to show her work. In 2001, Taylor bought three of her pieces.

Müller was already planning to go to the auction to bid for a client. While looking through the auction catalog, she discovered that those pieces were being sold as part of the fashion and accessories auction, held on the third day. Her pieces didn’t include her as the creator. She contacted Christie’s and the auction rectified the error.

The high estimate for the jewels was $300. Müller e-mailed me to let me know that her pieces sold for $15,000. With commission the total was actually $18,750.

“The 18k gold value alone would be about 10,000.00 if melted,” she added. “I think it was one of the few good deals in auction.”

I asked her how it felt to sit in the auction room and watch her pieces being sold at the historic event. Her reply was brief.

“Thrilled”

Bulgari Exhibit in Paris

Photo by Filippo Monteforte of AFP

If in Paris during the holidays it would be a good time to stop in the Grand Palais to view the Bulgari exhibit, which examines the history of the Italian luxury jeweler and its influence on world culture.

Photo by Filippo Monteforte of AFP

“125 years of Italian Magnificence” looks back over the key moments in the history of the celebrated jewelry maker and the development of Bulgari design, from the opening of the first boutique on Rome's Via Sistina in 1884 to the present day. More than 500 precious items illustrate the path followed by Bulgari on the way to becoming the world's leading exponent of precious, highly colorful jewelry.

Photo by Filippo Monteforte of AFP

Divided chronologically into periods, the retrospective begins with designs using silver and diamonds from the first half of the 20th century, then shows the creative turn taken in the 1960s with the emergence of a new style combining precious stones with rarely used original materials. The exhibition continues with the eclectic style inspired by 1970s pop art, the bold designs of the 1980s and 90s, right through to the spectacular designs of the 21st Century.

Jewelry, drawings, cinema stills and original items from private collections are contained in the exhibit, including Bulgari's own vintage collection and pieces owned by Elizabeth Taylor.

Bulgari 3Q Sales Up 15%, Jewelry Sales Up 14%, Watch Sales Down 11%

Italian luxury jeweler Bulgari SpA said Thursday that third quarter sales increased 15 percent year-over-year to 267.9 million euros ($366.7 million). At constant exchange rates (excluding currency fluctuations and other conditions) sales rose 5 percent for the period, ended Sept. 30.


Net profit for the period increased 138 percent year-over-year to 16.6 million euros ($22.7 million) for the Rome-based company.


Third-quarter jewelry sales rose 13.7 percent year-over-year (24.2% at constant exchange rates) due to the excellent sales performance of its B.zero1 line and the Serpenti collection. Watch sales fell 10.9 percent (down 1.8 percent at constant exchange rates). However, the company said it was not a fair comparison since delivery of new products this year began in September and continued in the three subsequent months, while last year the new launches were available starting in the second quarter. In October, watch sales grew by 6 percent. The company said that the women’s Serpenti watch collection had an “excellent reaction.” The steel version was available in stores in September, followed by the gold version at the end of October. 


The company also said October wholesale sales were greater than what was recorded in directly owned stores, which confirms the recovery of this distribution channel after last year's massive de-stocking. The company noted that the new Bulgari Roth and Genta models unveiled this year in Basel were “remarkably well-received by customers in directly owned stores.”


Perfume sales fell 4.1 percent for the period. (3.5% at constant exchange rates) but began to rise again in October, recording an increase of 5 percent. Accessories sales increased 35.3 percent (54.8 percent at constant exchange rates).


Sales in Europe for the third quarter rose 11 percent year-over-year, with sales in Italy up 24.4 percent. Sales in America fell 7.4 percent. The sales trend in America, however, adjusted to take into account the normal volatility of high-end jewelry, recorded a growth of 6.4 percent. In Asia, Japan sales show continued weakness, down 1.1 percent, while the rest of Asia grew 15.4 percent for the period. In China, sales grew 24.3 percent for the period. Sales in the Middle East and other areas fell 1.5 percent. However, this is an improvement compared to second quarter sales decline of 10.8 percent.


“I am satisfied with the third quarter results—particularly with the excellent performance of jewelry and accessories and the notable improvement in profitability—which are in line with our plans and clearly show that the company is continuing to improve, both in terms of product and image and in terms of investment control, indebtedness, inventory and costs,” said Francesco Trapani, Bulgari Group CEO.

Famous Bulgari Jewelry on Display in San Francisco

“Tubogas” choker, 1974; two-color gold with Greek silver coins. Bulgari Heritage Collection, inv. 404 N607. © Antonio Barrella Studio Orizzonte.

By Maria Ling,
Assistant Editor

One more reason to spend the holidays in San Francisco is the ongoing exhibition of Bulgari jewelry at the de Young Museum. 

“The Art of Bulgari: La Dolce Vita & Beyond 1950 - 1990,” is an exhibition of approximately 150 pieces created by the renowned Italian jeweler over four decades. It highlights jewelry that defined a pivotal period in Italian design, and includes pieces from the personal collections of Elizabeth Taylor, Ellen Barkin and other famous names. The exhibition will run through February 17, 2014.

Sautoir, 1969, platinum with sapphires and diamonds. Formerly in the collection of Elizabeth Taylor. Bulgari Heritage Collection, inv. 6675 N2170 © Antonio Barrella Studio Orizzonte.

Bulgari notably began to create its own trademark in jewelry in the 1960s by embracing boldly-colored combinations of gemstones, use of heavy gold, and forms derived from Greco-Roman classicism, the Italian Renaissance, and the 19th-century Roman school of goldsmiths. The company helped to develop a look that would come to be known as the “Italian school” of jewelry design. Pieces in the exhibition display the jeweler’s eclectic creativity and invention during this period.

Bracelets, 1955 and 1959; platinum with diamonds. Formerly in the collection of Ellen Barkin. Bulgari Heritage Collection, inv. 4924 B527, 4925 B528 © Antonio Barrella Studio Orizzonte.

Works in the exhibition also include those from the 1970s and 80s, a particularly innovative period for the jeweler and one influenced by Pop Art and other contemporary trends. 

“Parentesi” parure, ca. 1982; Gold with diamonds. Bulgari Heritage Collection, inv. 5063 E173, 5068 N1500, 5072 B508 © Antonio Barrella Studio Orizzonte.

“The hard-edged designs of the 1970s included a whole range based on the Stars-and-Stripes motif, while in the 1980s the Parentesi collection had a smoother, modular, almost architectural presence; both show how the jeweler could lead in new directions with a strong sense of design,” said Martin Chapman, curator in charge of European Decorative Arts and Sculpture at the Fine Arts Museums of San Francisco.

“Bib” necklace, 1965; Gold with emeralds, amethysts, turquoise, and diamonds. Formerly in the collection of Lyn Revson. Bulgari Heritage Collection, inv. 401 N565. © Antonio Barrella Studio Orizzonte

Bulgari’s successful cultivation of prominent patrons and movie stars like Sophia Loren, Ingrid Bergman, and perhaps most notably, Elizabeth Taylor, has long been a key aspect of the jeweler’s reputation. 

To help explore the cultural context in which these objects were made, the exhibition will include sketches, photographs, and other archival materials that help to reveal an intersection of celebrity, design and fine craftsmanship.

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24-Ct. Graff Diamond Ring Could Fetch $3.5 Million at Auction

Graff diamond ring. Photo credit: Denis Hayoun - Diode SA

Superb jewels, top-quality colorless diamonds, rare gemstones, natural pearls, and signed jewels from Bulgari, Cartier, Boivin, Graff, JAR, Tiffany & Co, Van Cleef & Arpels and Harry Winston will be part of Christie’s Geneva Magnificent Jewels auction on November 16.

Several private collections also will be part of the auction at the Four Seasons Hotel des Bergues, including the collection of Richard Burton’s former wife, Susan Hunt Burton, and a private collection featured in a separate catalog: “Timeless Elegance - Important Jewels from the Collection of a European Family.” (Follow link to read more about this collection).

The top piece among the 360 lots for sale is a 24.30-ct. oval cut diamond ring by Graff. The D color, internally flawless gem is estimated to fetch $2.9 million to $3.5 million (top picture).

The auction of haute joaillerie is expected to fetch more than $50 million.

Diamond “en tremblant” flower brooch, by Bulgari, 1960s. Estimate $110,000 - $220,000. Photo credit: Denis Hayoun - Diode SA

Bulgari will command its own section of more than 40 lots in the upcoming sale. It amounts to the largest sale of Bulgari jewels since a Christie’s Geneva auction in 1993. Among the highlights is an emerald, ruby and diamond sautoir suspending a hexagonal-shaped emerald of 44.90 carats, dated from the 1970s and estimated at $270,000 – $360,000. Also for sale will be a diamond and yellow gold necklace estimated at $73,000 – $89,000.

Diamond and yellow gold necklace by Bulgari. Estimate $70,000 - $90,000. Photo credit: Denis Hayoun - Diode SA

Among the colored gemstones and diamonds to be offered are an 8.11-carat, oval-cut Burmese ruby estimated at $2 million – $2.5 million, a pair of Colombian pear-shaped emerald and diamond earrings, weighing 23.66 and 23.55 carats, estimated at $1.8 million – $2.5 million, and a 55.98-carat Kashmir cabochon sapphire mounted with diamonds as ring by Mouawad, estimated at $800,000 – $1.2 million. A 30.15-carat, D color, VS1 clarity, Type IIa pear-shaped diamond with an antique cut is estimated to sell at $1.9 million to $2.3 million.

Pair of detachable 7.60 & 7.57cts pear-shaped diamond and diamond ear pendants by Van Cleef & Arpels has an auction estimate of $1.5 million - $2 million. Photo credit: Denis Hayoun - Diode SA

Richard Burton, the Welsh actor of stage and screen, was at the height of his fame when he married Susan Hunt, an international model, in August 1976. Among the jewels from the Susan Burton collection are 6.17 carats oval-cut diamond ring (estimate: $56,000 – $78,000), an emerald and diamond necklace by Van Cleef & Arpels (Estimate: $45,000 – $67,000) and a two row cultured pearl, pink tourmaline and diamond necklace with cultured pearl, sapphire and ruby ear pendants (Estimate: SFr. $40,000 – $63,000).

Emerald, ruby and diamond sautoir suspending an hexagonal-shaped 44.90-ct. emerald by Bulgari has an auction estimate of $260,000 - $360,000. Photo credit: Denis Hayoun - Diode SA

From the “Property of a Royal House, Christie’s November sale will present three fancy yellow diamonds: a 79-carat cushion-shaped diamond ring weighing estimated $1.5 million – $2 million, a 67.54-carat, brilliant-cut diamond brooch estimated $1.4 million – $1.5 million and a 32.62-carat brilliant-cut diamond ring with an estimate of $700,000 – $800,000.

From what is billed as the “Estate of a Gentleman,” a selection of 19 jewels created by the famous Swiss jeweler Meister mainly in the 1960s and 1970s. Among the highlights are a diamond fringe necklace estimated at $230,000 – $330,000) and a gold, diamond ruby and emerald snake bracelet estimated at $14,000 – $17,000).

Mystery-Set sapphire and diamond leaf brooch by Van Cleef & Arpels, circa 1930s, has an auction estimate of $300,000 - $500,000. Photo credit: Denis Hayoun - Diode SA

A group of Period and Art Deco jewels featured in the sale is highlighted by a diamond necklace created by René Boivin, circa 1960, (estimate: $340,000 – $440,000) and an emerald and diamond bracelet mounted in platinum, 1930s, estimated at $400,000 – $600,000.

Big Bulgari Blue Diamond Ring May Earn $12M at Auction

The Bulgari Blue Diamond, circa 1972

Christie's auction house announced that it will offer “The Bulgari Blue Diamond”—a two-stone diamond ring designed by the Italian jewelry company in the 1970s—at its New York headquarters on October 20. The ring features a triangular-shaped, colorless diamond of 9.87 cts. paired with a triangular-shaped fancy vivid blue diamond of 10.95 cts.—the largest fancy vivid blue diamond of this cut ever to be offered at auction.

Fancy vivid blue diamonds of this size are among the rarest of colored diamonds, the auction house said. It is estimated that one in about 10 million diamonds will possess a color pure enough to qualify as “fancy vivid.” The ring will be priced upon request for prospective bidders, but is expected to achieve in excess of $12 million and is positioned to become one of the top-selling diamonds at auction in 2010.

“The appearance of this sensational jewel on the market is causing a huge stir amongst top jewelry collectors worldwide,” said Rahul Kadakia, head of jewelry for Christie’s Americas. “This ring’s exceptional quality, rarity and size combined with the coveted imprimatur of the house of Bulgari make this upcoming sale a truly special event in the world of jewelry and one that is certain to make auction history.”

The ring is being offered by a private European collector who has kept it in his family for almost 40 years. According to family tradition, the ring was given as a gift from the collector to his wife in celebration of the birth of their first baby boy. The final sale price in 1972 was about $1 million, a fortune at the time, Christie’s said.

Julianne Moore’s Bulgari Ad Too Hot for Venice

A billboard advertisement for luxury Italian jeweler Bulgari featuring actress Julianne Moore has been banned in Venice for being a bit too risqué, according to media reports.

The billboard, which was to be displayed on Doge's Palace overlooking St. Mark's Square, features the actress lying naked, covered by a handbag and two lion cubs. Recently elected Mayor Giorgio Orsoni blocked the use of the billboard on the city's landmark, reportedly saying it isn’t appropriate for the famed square.

A different image, showing Moore fully clothed and wearing Bulgari jewelry, will be displayed instead, according to media reports.

Bulgari Posts Modest Sales Gain in Second Quarter

  

Italian luxury jeweler Bulgari Group is slowly climbing out from a disastrous 2009 as it post results Thursday for the first half of 2010.

The Rome-based company said sales for the period increased by 8.2 percent (11.8 percent at current exchange rates) to 443.3 million euro ($578.3 million) for the first half of 2010. It had an operating profit of 12.3 million euro ($16 million) and a net loss of 7.7 million euro ($10 million). However, the company says it was “a great improvement” compared to the 40.5 million euro ($52.8 million) loss of the first half of 2009, and it was negatively affected by exchange rates.

Bulgari also notes that it had a net profit of 600,000 euro ($782,783) for the second quarter.

During the half year, all product categories, with the exception of watches, contributed positively to growth.

Jewelry rose by 10.5 percent at comparable exchange rates (14.8 percent at current exchange rates). Watch sales decreased by 4.6 percent (1.2 percent at current exchange rates). Perfume sales grew 13.6 by percent for the period and accessory sales grew by 20.7 percent led by handbag sales in Bulgari-owned stores.

Sales in Europe grew by 1 percent (led by Italy’s growth at 2.7 percent) with clear signs of improvement in the second quarter in its directly owned stores, benefiting from increased tourism.

Business in the Americas grew by 52.7 percent, while sales in Japan, fell by 4 percent. Sales in the rest of Asia are still growing briskly at 21.4 percent led by China (29.7 percent). Sales in the Middle East were up 6.1 percent for the period, but couldn’t offset sales in other parts of the world, which was down 6.1 percent.

“I am pleased with the results achieved by the Group in the first half of the year, as they are in line with our forecasts and they confirm the validity of the strategies adopted and focused, on one hand, on cost containment and, on the other, on investment in our creativity and in the growth opportunities offered by the market,” said Francesco Trapani, Bulgari Group CEO. “In particular, the excellent performance of accessories is rewarding our project for diversification and verticalisation in this product category, which we carried out years ago, and our strong commitment for its subsequent development in terms of distribution and image. In light of July sales trends, I think it is reasonable at this time to confirm the validity of the ‘mid single digit’ growth guidance at comparable exchange rates for the yearly turnover, which we had already provided to the market, though I do hope that all the initiatives already in place and set to continue for the rest of the year will allow us to beat the guidance."

Bulgari First Half 2011 Sales Up 23%

First half 2011 sales for the Bulgari Group increased 23.6 percent, year-over-year, at current exchange rates to 548 million euro ($784 million). At comparable exchange rates the increase was 23.3 percent. The luxury jewelry house reported an operating profit of 15.3 million euro ($21.8) and a net profit of 9.1 million euro ($13 million) for the period.

During the first six months of the year, all product categories contributed to the growth, the Rome-based company said. Jewelry sales increased 20.2 percent at current exchange rates to 243 million euro ($347.6 million) due to the strong sales of its B.zero1, its high-jewelry line; a new ceramics collections; and Sassi, its medium-high end collection.

Watch sales grew 26 percent for the period to 111.1 million euro ($159 million), led by the “excellent results” of its women’s watch, Serpenti, and its complicated men’s models, including new versions of its Octo model.

Perfume and cosmetics sales increased 27 percent to 129.7 million euro ($185.5) for the period, led by the new launches of Mon Jasmin Noir and MAN. Accessories segment sales grew by 24.2 percent.

All geographical areas “performed exceedingly well” for the first-half 2011 period, the company said. Sales in Europe grew 18.6 percent (Italy increased 11.1 percent), the Americas were up 16.1 percent and Japan increased 4.6 percent. Sales for the rest of Asia grew by 44.2 led by a 59.5 percent growth in sales in mainland China. Sales in the Middle East and other areas increased 34.3 percent.

In March, Bulgari announced that Paris-based luxury conglomerate, LVMH, acquired a majority stake in the company. The two companies are in the process of working through the legal and logistical hurdles to bring Bulgari into the LVMH group.

Stéphane Linder to Become CEO at Tag Heuer

Stéphane Linder

Luxury holding group, LVMH Moët Hennessy Louis Vuitton, has named Stéphane Linder as the new chief executive officer of Swiss luxury brand Tag Heuer. The appointment will take effect June 1.

Linder, who is currently vice president of sales in North America for Tag Heuer, will replace Jean-Christophe Babin who was recently named CEO of Bulgari, also owned by LVMH. Babin replaces Michael Burke who LVMH appointed as head of Louis Vuitton.

Linder began his career with Tag Heuer in 1993 in the R&D Department, and held the positions of Product and Trade Marketing manager, R&D and Brand director, and VP of Marketing and Product Design before taking up his current position in 2010. 

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Bulgari Jewelry Sales Up 29.3%

The Bulgari Group said Tuesday that first quarter 2011 sales increased 27.5 percent, year-over-year to 253.8 million euros ($394 million) led by strong demand for all of its products throughout the world, particularly in China.

“The general recovery of the economic context, together with an extremely competitive offer in all product categories, very impactful communication initiatives and a constant improvement of the shopping experience had a very positive influence on the turnover, with a significant contribution from both the directly owned stores and the wholesale channel,” the Italian luxury jewelry house said in a statement.

The Rome-based company that will soon be under the LVMH umbrella, reported that jewelry sales (the company’s core business) increased by 29.3 percent to 114 million euros ($163.4 million), watch sales rose 22 percent to 50.6 million euros ($72.5 million), accessories sales jumped 19 percent to 20.7 million euros ($29.6 million), and perfume and cosmetic sales soared 33 percent to 60.1 million euros ($86.1 million).

All the geographical areas where the company operates registered very positive sales results. However, it was Asia that led the way. By itself, the continent accounted for nearly half of all sales for the company in the first quarter at 122.3 million euros ($175.3 million), a 33.5 percent increase. Sales in China alone soared 76 percent, year-over-year for the three-month period. Sales in Japan increased 10.5 percent to 39.4 million euros ($56.4 million), despite the prolonged closure of shops following the earthquake and tsunami that hit the country March 11.

While sales growth in the rest world wasn’t as dramatic, it was still robust. In Europe, sales rose 16.5 percent to 79.5 million euros ($114 million), with sales in Italy up 7.8 percent to 25 million euros ($35.8 million). Sales in the Americas increased 20.2 percent to 32.7 million euros ($46.9 million). In the Middle East and other areas where the Rome-based jewelry operates saw a 59.8 percent increase in sales to 19.4 million euros ($27.8 million).

Bulgari is a global player in the luxury market relying on a network of stores in exclusive shopping areas around the world and on selected distributors. There are 294 Bulgari stores in the world of which 177 are directly owned. The company has a product portfolio that ranges from jewels and watches to accessories and perfumes.

A Look at Gina Lollobrigida’s Bulgari Jewels

Natural pearl and diamond pendants, Bulgari, 1964, worn by Lollobrigida when she met Princess Margaret at The Taming of the Shrew premiere in London in 1967. Estimate: $600,000 - $1 million

Throughout her long and varied career as an actress, artist and humanitarian, one thing remained a constant in Gina Lollobrigida’s life: Her relationship with Italian luxury jewelry house, Bulgari.

19.03-ct. diamond ring, Bulgari, 1962; Estimate: $400,000 - $800,000

As previously reported, Lollobrigida is selling 23 pieces of jewelry from her Bulgari collection at Sotheby’s Geneva on May 14. Those who have followed the 85-year-old actress’ career, particularly during her height of international popularity in the 1950s and ‘60s, will recognize the items as they were all worn by her during special moments in her life.

Diamond necklace/bracelet combination, Bulgari, 1954, worn by the actress as a tiara during her 1961 Golden Globe for World Film Favorite – Female. Estimate: $300,000 - $500,000

The pictures that accompany this article are some of the highlights of the upcoming sale. Proceeds from the sale will benefit stem cell research, which she describes as a “very close cause to my heart.”

27.57-ct. emerald and diamond brooch, Bulgari, 1964; Estimate: $150,000 - $250,000.

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Emerald and diamond pendent ear clips, Bulgari, 1964. Surmounts are detachable and may be worn with the natural pearl and diamond pendants. Estimate: $150,000 - $250,000

Emerald and diamond ring, Bulgari, 1964. Set with a step-cut emerald weighing 16.62 carats and framed by two rows of brilliant-cut diamonds. Estimate: $120,000 - $180,000

Film Star Gina Lollobrigida To Auction Her Bulgari Jewels For Charity

Gina Lollobrigida wearing the Bulgari diamond necklace and bracelet combination as a tiara & the pair of emerald and diamond earclips. The items are included in the auction at Sotheby's Geneva.

Actress and sex symbol, Gina Lollobrigida, will sell 23 jewels from her Bulgari collection at Sotheby’s Geneva Magnificent Jewels and Noble Jewels Sale on May 14. The auction will feature important Bulgari jewels from the 1950s and 1960s, worn by Lollobrigida at landmark moments in her career. Proceeds from the sale will benefit stem cell research.

Key pieces from the collection will travel to Hong Kong, London, New York and Rome before returning for exhibition in Geneva in advance of the sale.

“I have been lucky enough to be given many roles in life – as an actor, a mother, a photojournalist, an ambassador for FAO (Food and Agriculture Organization of the United Nations), and as an artist,” Lollobrigida said. “I began collecting jewels from Bulgari in the 1950s and 1960s, drawn by the wonderful craftsmanship and distinctive style of these pieces. They accompanied me on many journeys—both professional and personal—and are redolent of those times and the extraordinary people I met along the way.”

She continued, “I have decided the time is right to share them with other collectors. In so doing, I can also help a cause very close to my heart, that of stem cell research – treatment, which I believe should be freely available to every child. It is my wish that part of the proceeds from the sale will contribute to help fund an international hospital for stem cell research.”

David Bennett, Sotheby’s Switzerland and jewelry, Europe and Middle East chairman, added: “These exceptional jewels are evocative of both a woman, and an era. Not only do they reflect Gina Lollobrigida’s brilliance, but they are among the finest designs created by Bulgari in the “dolce vita” years of the 1950s and 1960s.”

Highlights from the sale include:

* Diamond necklace and bracelet combination, Bulgari, 1954, (also worn by Miss Lollobrigida as a tiara) a favorite of Lollobrigida on landmark occasions, including receiving her 1961 Golden Globe for World Film Favorite – Female (estimate, $300,000 - $500,000).

* Pair of natural pearl and diamond pendants, Bulgari, 1964, worn by Lollobrigida on numerous public occasions, including to meet Princess Margaret at The Taming of the Shrew premiere in London in 1967 (estimate, $600,000 - $1 million).

* Diamond ring set with a cushion-shaped diamond weighing 19.03 carats, Bulgari, 1962 (estimate, $400,000-800,000).

* Emerald and diamond earclips, Bulgari, 1964. Each earclip suspends a detachable pendant set to the center with a pear-shaped emerald (estimate $150,000 - $250,000).

* Emerald and diamond brooch set to the center with a step-cut emerald weighing 27.57 carats (estimate, $150,000 - $250,000).

* Emerald and diamond ring, Bulgari, 1964, set with a step-cut emerald weighing 16.62 carats, framed by two rows of brilliant-cut diamonds (estimate $120,000 - $180,000).

For her commitment to various humanitarian organizations, she was nominated first Ambassadress for the FAO in 1999 and has worked closely with UNICEF, UNESCO, Médecins Sans Frontières, Mother Theresa of Calcutta and children in Romania.

In 2007, she received the honor from the Republic of San Marino of becoming the only woman to be featured in a special edition of four postal stamps bearing her portrait – each depicting a different facet of her career – as actor, photographer, sculptor and humanitarian. In 2008, in Washington, the Italian-American Foundation NIAF awarded her the “Lifetime Achievement Award” in recognition of her artistic life.

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LVMH Becomes the New Big Kid on the Luxury Jewelry Block

Bernard Arnault

For Bernard Arnault, the “King of Luxury,” the acquisition of Bulgari is somewhat unusual. Not because of the type of company being purchased, but because of what he gave up to acquire the Italian luxury jewelry house.

The deal is going to cost Arnault, LVMH chairman and CEO, more than 3.7 billion euros ($5.2 billion), consisting of approximately 1.9 billion euros in shares to the Bulgari family and about 1.84 billion euros in cash to buy out the other shareholders. In addition, the acquisition will dilute Arnault holdings of LVMH to 46.5 percent, while Bulgari will get a 3.5 percent share of the luxury goods conglomerate and become LVMH’s second largest shareholder. Bulgari will get two seats on the LVMH board, the family will continue to control Bulgari and Bulgari’s chief executive, Francesco Trapani, will lead LVMH enlarged watches and jewelry activities, which includes the brands TAG Heuer, Chaumet, Zenith, Hublot, Fred and De Beers. Philippe Pascal.

What does Arnault get in return? In a single swoop of his pen, LVMH’s jewelry and watch holdings will double (from 5 to 10 percent), enabling LVMH to take on its biggest rivals in the “hard luxury” sector, Switzerland’s Richemont, owners of Cartier, and the Swatch Group. He also gets one of the most famous luxury jewelry brands in the world, known for adorning the most glamorous Hollywood stars (including Elizabeth Taylor) and royalty.

Arnault was quoted as saying that hopefully it will show Hermès (a reluctant target of Arnault) that he is able to work with a family-owned company. However, that may be premature as the working relationship hasn’t yet begun.

Both companies say the deal will create a more efficient distribution system for Bulgari (which has been struggling to make a profit in recent years) and help it to expand its network of stores, particularly in high-growth areas such as China.

The stock markets seem to like the deal, as the LVMH price has risen since the merger. Those in the jewelry industry have raised questions on whether it will create a jewelry company that is less distinguishable from other luxury jewelers.

No matter what happens, one thing is certain, the luxury jewelry sector has a new player.

LVMH to Buy a Controlling Stake in Bulgari

Bernard Arnault

Bernard Arnault has done it again. While no one was watching the chairman and CEO of LVMH Moët Hennessy Louis Vuitton has captured another prize: Bulgari.

In a few hours the two companies will announce that LVMH will purchase a 51 percent share of the Italian luxury jewelry house, according to the Financial Times and other published reports. The purchase will come in the form of a share swap. A person close to the deal told the FT that as part of the deal, Francesco Trapani, Bulgari’s chief executive, will take a senior position in the LVMH group, while Bulgari family members will get board representation.

According to the report the Bulgari family is united in agreement for the sale. This is in contrast with LVMH’s 20-percent position in Hermès, the Parisian luxury house, which is still being talked about in luxury circles. This deal was done in late 2010 through a complex derivatives position without the knowledge of the heirs of the Hermès family, who own 70 percent of the fashion house. The family has publicly voiced its disapproval. 

Update, March 7, 2:35 a.m EST: LVMH just released its announcement of the acquisition with addition information. Upon completion of the share transfer process, LVMH said it will issue 16.5 million shares in exchange for the 152.5 million Bulgari shares currently held by the Bulgari family, who will become the second largest family shareholder of the LVMH Group. In compliance with the Italian Stock Exchange regulations, LVMH said it will submit a Public Purchase Offer at the price of €12.25 per share on the shares held by minority stockholders.

The statement further defines Bulgari executives’ positions in LVMH. Paolo and Nicola Bulgari will remain chairman and vice chairman of the Bulgari S.p.A. Board of Directors, respectively. The Bulgari family will have two representatives on the LVMH Board of Directors. Trapani will join the executive committee of LVMH and will assume, in the second half of 2011, the management of the LVMH enlarged watches and jewelry activities, which includes the brands TAG Heuer, Chaumet, Zenith, Hublot, Fred and De Beers. Philippe Pascal, the current head of jewelry and watch group, will remain on the LVMH executive committee and be given new responsibilities within the Group, the statement said.

“Our entrance into LVMH will allow Bulgari to reinforce its worldwide growth and to realize noteworthy synergies, in particular in the areas of purchasing and distribution,” Trapani said. “Bulgari and these brands will be able to invest and innovate even further to become the world leader in the high end segment.”

Arnault added: “We share the same culture in terms of respect for identity and roots of the brands, quest for excellence, creativity and innovation. As is the case with LVMH, the Bulgari family shareholders are directly involved in managing the company, they are entrepreneurs that know and excel in all aspects of the business, from the creation of the product to after sales service. It is for these reasons that we immediately understood each other and agreed on the way we would work together.”

Bulgari Sales Up 20%, Jewelry Sales Up 28%

Bulgari Group said Wednesday that fourth quarter 2010 sales increased 20.5 percent at current exchange rates to 357.8 million euro ($491.3 million) at current exchange rates (Sales increased 11.4% at comparable rates).

“The fourth quarter results certify a definitive recovery in all geographical areas and product categories,” the Italian luxury jewelry house said in a statement. “An excellent performance by jewelry was thus accompanied by highly positive accessory and perfume sales results, whilst with regard to watches the Serpenti, Bulgari Roth and Bulgari Genta collections, launched during the quarter, had an excellent start.”

Strong sales gains were reported in all regions, with the strongest growth in Asia.

By product category, jewelry sales grew by 28.3 percent to 166.7 million euro ($229 million) for the period, the company said. Excluding the significant but volatile contribution of the high jewelry segment, the category increased by 36 percent
.
Watch sales grew by 7 percent for the period to 73.5 million euro ($101 million), after three weak quarters. Its accessories business posted a 31.4 percent uptick and perfumes also did very well, with a 14.1 percent rise.

By region, the fourth quarter saw U.S. increase by 10.3 percent. Sales in Europe rose 8.4 percent and Middle East rose by 13.9 percent.

The company noted the “spectacular” sales gain in Asia at 37.7 percent, including the “progressively improved” performance in Japan, up 24.9 percent. Sales were up 47.3 percent in greater China. The remaining areas of Asia grew by 48 percent.

“These sales results are highly satisfactory overall, and represent a record fourth-quarter turnover in the history of the company, thus confirming the recovery we had already noted in the previous quarters, said Francesco Trapani, Bulgari Group CEO. “The performance of watches, in particular, demonstrates that with the expansion and the upgrading in our offer we are going in the right direction. In the core business of jewelry, the innovation and design of the Bulgari brand have achieved excellent performance levels both in the basic and high-end segments, in spite of the challenging comparison bases. Lastly, perfumes and accessories prove once again that the diversification strategy aimed at competing at the highest levels in the market is winning. In conclusion, these data are definitely a good starting point for the months to come, and induce me to a cautious optimism.”

2012 Oscars Red Carpet Jewelry

Gwyneth Paltrow Wears Anna Hu Haute Joaillerie on the red carpet, including the Hearts of Winter cuff bracelet made of 2,368 rose-cut, round brilliant diamonds weighing 163 carats and valued at $1 million; and the double hoop Duchess Hibiscus Ring made of rose cut and round diamonds with purple sapphires set in 18-karat white gold and valued at $160,000. 

With a silent film taking the night’s biggest prizes and two Octogenarians nominated for Best Supporting Actor Oscars (one winning), it shouldn’t have come as a surprise that it was night of nostalgia when it came to red carpet fashion for the 84th Academy Awards. The jewelry worn by the movie industry’s biggest stars kept with that trend with classic designs and plenty of old-time sparkle.

Best Actress nominee, Michelle Williams, arrives at the 84th Annual Academy Awards in a 30-carat Fred Leighton diamond forevermark necklace. Photo credit: Jason Merritt/Getty Images

Green, the most popular color last year, was still very much in the limelight but shared the stage with red and blue. Necklaces were more difficult to spot than in previous years and the ones that were worn took to more traditional designs, such as riviera style necklaces, rather than the big, bold necklaces that some jewelry designers and luxury brands had ready for the stars to wear. Earrings were mostly kept to modest lengths. When size did matter it was used for rings and bracelets, such as large cuffs. Emerald and diamonds seemed to the most popular gemstones for the evening.

Natalie Portman wears a V-shaped diamond necklace and diamond earrings on the red carpet. Photo credit: Jason Merritt/Getty Images

Harry Winston and Fred Leighton were among the favorites of the actresses as were the Swiss brands, Chopard and Piaget. Hollywood’s popular jewelry designers, Lorraine Schwartz and Neil Lane, also had outstanding nights. Largely missing in action were the Italian jewelry houses, Bulgari and Damiani; and the French fashion houses such as Van Cleef & Arpels and Cartier. Tiffany also had a quiet night, with the exception of placing $1 million worth of jewelry on Cameron Diaz.

Penelope Cruz wears a Chopard riviera style necklace and diamond ear clips. Photo credit: Jason Merritt/Getty Images

Overall, risk taking took a backseat to old Hollywood glamour. For the most part it was a good thing.

Cameron Diaz arrives on the red carpet wearing $1 million worth of Tiffany jewels, including the diamond necklace. Photo credit: Michael Buckner/Getty Images

Octavia Spencer, Best Supporting Actress, winner for The Help finished her look with Neil Lane jewelry and a Judith Leiber clutch. Photo credit: Jason Merritt/Getty Images

Jessica Chastain on the red carpet wearing Harry Winston jewels.

Milla Jovovich wears Jacob & Co.

The Iron Lady Meryl Streep wears Fred Leighton.

Emma Stone in Fred Leighton on the red carpet.

George Clooney's SO, Stacy Kiebler, wears Lorraine Schwartz.