Tiffany & Company - 175 Fabulous Years

175 years of a great American Company
Tiffany and Company
Here is a great video about what makes Tiffany and Co. special.
Every wonder where the Tiffany blue came from?
Watch this video and find out

Rodeo Drive - There Goes The Neighborhood

Look who's moving in next door...or actually a couple of doors down.

Solange Azagury Partridge
They've been setting up for the big opening night party for days now...and borrowing our parking spaces.  The parking lot behind the store is fully tented and decorated with a giant disco ball.
I'm trying to action an invitation to this little shindig...somehow I don't think that I'm on the VIP list.

Now, at almost 7:30 pm the party is in full on happening mode with disco music wafting into our office.
Any minute now I sure that I'm going to hear Donna Summer's "Love To Love You Baby".

Jewelry Biz - It Takes A Thief...Or Two

Amazing is correct.
In the news
Ring worth nearly $700,000 taken by savvy thieves

Two well-dressed men walk away with Cartier store's most expensive one

ROME — Police are trying to track down two men who stole a Cartier store's most expensive ring, but one thing is clear: the bilingual, elegantly attired thieves were savvy. 

Without pulling a weapon, the two men walked off with a 500,000 euro ($693,000) diamond-encrusted ring Tuesday evening from Cartier's store on Via Condotti, a toney shopping street near Rome's Spanish Steps, police said.

Talk about messing up the 'Know Your Client' rule!

But I truly do feel sorry for the poor saleswoman who got totally bamboozled by these elegantly attired gentlemen I mean cheeky thieves, speaking Arabic and French.  

She probably thought that they were Saudi royals and that she was on to making the big sale of her year.

Jewelry Biz- Newflash on Flash Sales

From Reuters

Cartier is sues flash retailer Hautelook over sales

NEW YORK, Aug 4 (Reuters) - Cartier has sued the online "flash sale" retailer HauteLook, accusing it of damaging the luxury goods maker's brand by selling damaged and second-hand Cartier merchandise without permission.
Cartier claimed that HauteLook has sold used Cartier watches despite maintaining on its website that it "never" sells "secondhand merchandise, ever."
It also said HauteLook has sold Cartier goods that were damaged, were shipped in the wrong packaging, or carried defaced authenticity certificates, and sometimes included a Cartier warranty booklet though the warranty did not apply.
Yikes!

Jewelry Biz- Stephen Webster Will Open 1st US Store on Rodeo Drive

 Jewellery brand Stephen Webster is opening a flagship US store on Rodeo Drive in Beverly Hills.
From Retail Jeweller
The retail space design will mirror the London and European mono-brand boutiques, which incorporate Stephen Webster’s signature style of glamour with a rock and roll edge. The space will combine Webster’s love for traditional craftsmanship with his passion for contemporary music, fashion and art to produce a modern, unconventional retail aesthetic for showcasing his collections.

“The store on Rodeo Drive will be our first flagship in the US,” said founder and creative director Stephen Webster. “Over the past 10 years we have built strong ties with the LA community including the world of entertainment based there. The opening of this store is set to be extremely significant in our development.”

He added: “This project is very exciting to me and my team who feel that the Stephen Webster brand is shifting to become an all encompassing lifestyle experience”.

Well, I'm not going to make my usual snarky 'well there goes the neighborhood' comment about this.  We welcome all retail jewelers to the neighborhood.  The more jewelers on the street, the better for our business.

Besides, I love Stephen Webster's whole glam rock vibe and his crystal haze jewelry.  God knows that Loree Rodkin needs some local competition.
Plus...now that we have the new Tom Ford store about to open a couple of doors away, we might as well have Stephen Webster on the block too. 
And just think, soon we will all be able to go up and down  Rodeo Drive and experience, boutique by boutique, each all encompassing lifestyle experience!

Stephen Webster Tsavorite and Tahitian Pearl Earrings $1450

Or, we could skip all the retail 'lifestyle' hype and just buy our jewelry online from Beladora.com.

Jewelry Biz - Chopard's New Collection At The Frick

From the WSJ

The Celebration for Chopard's 150 year anniversary at the Frick Museum in New York 

with lots of sparkling stuff from their new animal themed collection

Although I'm not quite sure what I think about this diamond kitten necklace in the $700,000 range

or this diamond parrot necklace for $1,000,000 or so.

A couple of years ago it was all about sea themed collections
Now it's all about animals
go figure

Jewelry Biz- Bahia Emerald In Play

There is plenty of news out there in jewelry land this week.

The conflict gold provision in the new Wall Street bill,

The Dodd-Frank gold provision would require that companies using gold as well as the minerals coltan, cassiterite and solframite file annual reports with the Securities and Exchange Commission (SEC) regarding the source of those materials. According to JA, compliance with the gold provision would likely require that companies hire a third-party firm to audit and validate their gold-sourcing reports.

If a company's gold or minerals did originate from one of the 10 African countries included in the bill, then that company would have to show what steps they took to trace their materials back to their source. The provision also dictates that materials information be placed on a company's Web site for public review.
Jeweler to the Stars, Neil Lane is partnering with Kay Jewelers for a collection of bridal jewelry
The US Federal Court rejected an anti-trust deal for De Beers
In a drive to end antitrust and monopoly claims brought against it, De Beers reached a $250 million settlement over price fixing of gem quality diamonds and in 2005 established a $272.5 million fund for indirect purchasers of its diamonds.
and the story that I'm all over right now is

Tussel over 840 pound emerald back in court
Los Angeles--The long-running dispute over who owns the 840-pound Bahia Emerald rough that was unearthed back in 2001 could be resolved by the end of the month.
Multiple people claim ownership of the gemstone. According to an Associated Press report, it was discovered in Brazil and valued at $400 million and then traveled through New Orleans, Idaho and Las Vegas before being seized by authorities.
Thomas, a gem trader, claimed he is the rightful owner of the emerald because he purchased it for $60,000 from the Brazilians after it was first discovered back in 2001, media reports said.
Can someone please tell me how an object that sold for $60,000 can be valued at $400,000,000 a mere nine years later?
And finally,
Gold Coin Sellers Angry By New Tax Law
Amendment slipped into Health Care Legislation would track, tax coin and bullion transactions
So every time a member of the public sells more than $600 worth of gold to a dealer, Piret said, the transaction will have to be reported to the government by the buyer.

Pat Heller, who owns Liberty Coin Service in Lansing, Mich., deals with around 1,000 customers every week. Many are individuals looking to protect wealth in an uncertain economy, he said, while others are dealers like him.
With spot market prices for gold at nearly $1,200 an ounce, Heller estimates that he'll be filling out between 10,000 and 20,000 tax forms per year after the new law takes effect.
Well it's certainly good to know that the Federal Government is getting their hands on yet another thing to tax!

Jewelry Biz - We Get Quoted...Sometimes

Just to let you know that occasionally someone does take our opinion seriously...

as this is the second article in Rapaport where we've been quoted.

Sorry, but we can't let you know what we actually said...because you have to have an account

with the top secret 'to the trade only' Diamonds.net.

We just want to know when the Wall Street Journal is going to call us for a quote....

We are patiently waiting.....

Jewelry Biz - All Things Webb and Wonderful

Here at Beladora.com we are big fans of all things Webb and Wonderful

although we prefer the fabulous vintage jewelry to the newly manufactured pieces

Here are a couple of our favorite vintage Webb wonders

Vintage David Webb Emerald and Diamond Ring $5850

Vintage David Webb Carved Emerald and Diamond Necklace $19,550
(Why the hefty price you ask...a 90 plus carat emerald!)

So now we have some big news in the Jewelry Biz -

We are just hoping that now that company has been bought by a group consisting of three well known estate jewelers, that the Webb brand can thrive in the way that the Verdura brand has endured.

From National Jeweler

David Webb bought for $11M, exits Chapter 11

Founded in 1948 by David Webb and Nina
Silberstein, and owned since 1975 by the Silberstein family, David Webb operates
two retail locations--with one being the flagship store on Madison Avenue in
Manhattan and the other a company affiliate at the upscale Regent Beverly
Wilshire Hotel in Beverly Hills, Calif.

The company also owns a factory where it
manufactures its own jewelry.David Webb filed for bankruptcy in June 2009,
citing substantial cash flow difficulties and a drop-off in sales brought on by
the economic downturn. At the time of the filing, the company reported that its
sales fell to less than $5 million for the year to date, as compared to $13.25
million for the fiscal year ended June 30, 2009, court papers show.

"For decades, David Webb jewelry has been covered and highly collectible," a release announcing the sale said. "The challenge of maintaining continuity while engaging in renewal involves honoring the essential lexicon of this legendary American designer and projecting it with a 21st century blueprint."The brand has said that it will attempt to reach a broader audience, one that includes the next generation of young shoppers and that it will elevate the brand to "a global position appealing to women who are looking for modern jewelry with bold and expressive style and design."

Strict, Sotto Voce or Just Plain Anti Diva Armor

Considering the Duchesse's post today on "Sotto Voce" style and her previous post on "Strict" style, I thought that I would show you what shoes I am wearing today. Purchased at Barney's many years ago these Italian fatta a mano shoes are a little bit beat up... but they are finally worn in and comfortable. I also have matching pairs in camel and black suede.

I don't know if these fall into the "Sotto Voce" or the "Strict" category in terms of style.

But I will say that my environment is fraught with Divas and I don't deal well with the whole Diva thing. So I just consider these shoes as part of my "Anti-Diva Don't F**k With Me" style.

Someday we can have a further discussion on the semiotics of shoes...

Quality and Style

Vintage Cultured Pearl Cluster Earrings in 14K from Beladora2.com $395.00

Wendy B is on a roll this week with

Get Smart about Quality

complete with quotes from smart girls like me!

And Privilege is posting about pearls and asking the style question

Can you wear a simple pearl strand with a simple pearl stud?

with some vintage cultured pearl jewelry from Beladora2.com

Don't miss these posts!

4th Quarter Blues Get Blind Sided

Black Friday...whatever
Cyber Monday...ho hum
Who knew that the rest of the week would be the week from hell.

I'm not sure if it was the photography issues, the technology issues
or the personality issues that frustrated me the most.
(There might have even been some snapping, on my part, at a colleague when boundaries weren't respected)

When I was a young married mom, a lifetime ago, I could never understand why my husband would come home from work and pour himself a generous Bombay martini...or two.
Now I get home and wish that I could come home and chill out with a martini of my own!

How can a day or two at the office be so stressful. Let's face it, it's not like what I do is rocket science. In addition, the stress was caused by something that is actually really awesome, but trying to meet a deadline when the systems go awry has been just enough to put me on edge. I like to under promise and over perform and it pisses me off royally when I can't do this.

In addition, the pressure of the 4th quarter is so great that the intensity level is ratcheted up. So much needs to get done and I have no patience for nonsense.

Luckily I went to see "The Blind Side" last weekend, an incredible film with an enduring message, that has helped me put all my silly office issues into perspective.
If you haven't already seen it take the time this weekend to go see it.

It is a deeply moving story (bring kleenex) and beautifully acted.

True tales like "The Blind Side" show us how the actions of just one person or family can change the life of someone who lives with adversity.

It makes me think that the dreaded 4th quarter should be a little less about the bottom line and a little more about what we can do to help other people achieve their potential.

Jewelry Biz - A Tale of Two Cities, Akron and Geneva

Jewelry has the distinction of being one of the few luxury goods that has both a high end and a low end, in the way that a private jet does not. The high end of course is the private client and auction business and the low end is the retail chain store business like Zales and Kay Jewelers.

On the high end:
I really don't know how to describe the high end other than tremendous.
Take this month's Sotheby's Geneva Magnificent Jewelry Auction for example

Magnificent Jewels of Important Historical Provenance
& Rare Coloured Diamonds Soar at Sotheby’s Geneva,
Bringing CHF 37,011,375 ($36,682,714, €24,553,028)

Magnificent Vivid Green Diamond Sells for CHF 3,106,500 ($3,078,914, €2,060,825),

a New World Auction Record Price Per Carat for a Vivid Green Diamond--

--The Roxburghe Rubies Bring the Unprecedented Sum of CHF 5,821,000, ($5,769,309, €3,861,602),
A World Record Price for a Ruby Suite—

Since extraordinary jewels are bringing extraordinary prices

The Wall Street Journal asks

Diamonds: An Investor's Best Friend?

They are rare, beautiful, valuable and a girl's best friend but traditionally diamonds haven't really been considered an asset class in their own right.
Diamonds do not have the "safe haven" status of gold, and their prices are more volatile than the precious metal. While spot gold has gained around 25% in value this year, diamond prices have fallen by at least 10%, in line with the poor performance of the luxury industry, according to U.S.-based IDEX Online Diamond Prices, which tracks global asking prices for polished diamonds.

While respected authorities in the jewelry business advise against buying diamonds for investments
David Bennett, Geneva-based chairman of jewelry for Europe and the Middle East at Sotheby's, says: "Like art, we would not advise someone to buy diamonds for investment purposes. People should buy diamonds for the joy of wearing them."
we've still got
the growing demand for tangible assets and portfolio diversification has led to the launch of a number of diamond investment funds this year, which believe they can achieve double-digit returns for investors.

Have a few extra dollars in your bank account?
Here are some investment options:
KPR Capital launched a Cayman Islands-domiciled open-ended investment diamond fund with a minimum buy in of $250,000.
Alfa Capital, the Russian investment group, launched a diamond investment fund with a minimum investment of €1m and an estimated yield of 15% to 17%.
Emotional Assets Fund was launched, investing in a number of assets from fine art and rare stamps to diamonds and diamond jewelry. The fund is targeting a growth rate of 15% per annum with a minimum investment of £100,000.
Dazzling Capital, a London-based company investing directly in period jewelry, also opened its doors this month, co-founded by former Christie's auctioneer Humphrey Butler.
The company, which accepts a minimum investment of £10,000 with an estimated return on investment of 11%

Names like Emotional Assets Fund and Dazzling Capital certainly sound contrived
especially when we know that white diamonds are not rare, they are scarce due to controlled distribution, yet returns have gone up because sales at the high end are off the charts.
But given that diamonds will bring an 11-15% return, why would you buy into a fund when you can just buy actual diamonds and get the pleasure of wearing your investment?

I'm dubious about buying diamonds, individually or in funds, unless they are rare and colored (fancy) "If you want to buy diamonds for investment purposes, they should be big and fancy (colorful)," says Holly Midwinter-Porter, a gemologist at U.K. jeweler Boodles. "Red and green are the rarest, and unlike white, man-made diamonds, are finite as they are only found in one or two areas in the world." She says returns on rare diamonds can enjoy double digit growth a year, and their portability makes them more appealing than gold or art to some investors. And if you are looking for a big red diamond I have one for sale.

But I do think that buying period diamond jewelry, like the emerald set in this photo, is an intriguing investment.

Another option for investors is the vintage diamond jewelry market -- considered capable of more lucrative returns because of the added value of provenance. Mr. Butler brokered a $4.5 million deal with the Louvre in 2004 for an antique emerald and diamond necklace and ear rings by Nitot, presented as a wedding present by Emperor Napoleon to his second empress, Marie Louise of Austria. The owners had bought it for a fraction of the sale price 10 years before.

With fine vintage jewelry, intrinsic value + provenance = return on investment.

So I will be interested to see the results of tomorrows Sotheby's London sale of

Romonov Heirlooms: The Lost Inheritance of Grand Duchess Maria Pavlovna

On the low end:

Jewelers Hope Holidays Sparkle

After last year's horrendous holiday season, and the subsequent some 1,500 retail jewelry stores that went out of business, the big corporate chains such as Kay Jewelers and Zales are hoping for an increase in same store sales due to less overall competition.

Akron Ohio based Signet, which owns Kay and Jared, sees the demise in the industry as an opportunity. "Our balance sheet puts us in a stronger position competitively," Terry Burman, chief executive of Signet Jewelers Ltd., said in an interview.

In the current quarter, which includes the holidays, Wall Street analysts estimates Signet will post a 2% increase in sales at stores open at least a year. Last year, Signet's fourth quarter sales slumped 16% in the U.S. and 9% in the U.K.

I certainly hope that the analysts are correct given

The holiday season is crucial for jewelry chains, many of which record the majority of their sales and up to 100 percent of their profit in the period. Signet, for instance, books 40% of its sales and 70% of its profit in November, December and January, with the bulk of its sales coming in the last two weeks of December.

and

For the fiscal third-quarter ended Oct. 31, Signet, the largest chain jeweler in North America, posted a loss of $7 million, or eight cents a share, compared with a year-earlier loss of loss of $15.1 million, or 18 cents a share. Results for the company's latest quarter included a $5 million benefit from a change in U.S. vacation policy.

While I can afford an investment in Signet or Zales (versus a diamond fund)

Shares of Zale were up 10%, or 47 cents, to $4.40, while Signet shares were off 56 cents, at $26.32, both in 4 p.m. trading Tuesday on the New York Stock Exchange.
I'd still rather not invest in any retail jewelry business that caters to the low end.

My money is on fine vintage jewelry because that is what savvy consumers buy.

And my last word on the subject

London based estate jeweler Humphrey Butler, yes he of Dazzling Capital and the Napoleonic Emeralds, is selling the same set of Tiffany diamond bird brooches for $10,500

that Beladora.com is selling for $5950.

So even in the vintage estate jewelry market it pays to be discerning when making any purchase.

Jewelry Biz- Kwiat Buys Fred Leighton

From JCK Online

Kwiat Buys, Will Run Fred Leighton
Kwiat, the diamond and jewelry company, recently purchased and plans to manage and operate Fred Leighton, the estate and antique jewelry retailer that was recently in Chapter 11.

Kwiat made the purchase together with Och-Ziff Capital Management Group, and FOF Inventory Holding. It is valued at $25.8 million.

"Even through this bankruptcy, the core of the brand has remained exceptionally strong," Kwiat said. "The customer knows Fred Leighton. They know that Fred Leighton is all about fine estate and antique jewelry. They have a strong connection to the customer through their appearances on the red carpet."
In the near term, Kwiat will concentrate on its existing stores. But in the long run Kwiat says he plans to expand Leighton's wholesale business and well as its "retail footprint."

From a valuation of over $100 million to $25.8 million...what the hell happened to this company...Oh, I forgot, Ralph Esmerian was running the business.

So now there are a lot of smart people behind this brand, not just the Kwiat group but the FOF investors, so there should be a revitalization of this brand.

But having jewelry on the red carpet doesn't necessarily translate into sales

so we shall see how Fred Leighton fares in the future...

Jewelry Biz - "As If The Recession Never Happened"

The full Christie's results are out
From Idex

Christie’s fetched $46. 51 million at its most recent sale, Jewels: The New York Sale & The Annenburg Diamond, Rare Jewels and Objets d’Art: A Superb Collection. Diamond traders noted with satisfaction that the auction further solidifies diamond prices.

This auction wasn't just about the big Annenburg rock, the Fred Leighton jewelry sold too.

And here's the key information

The international auction house reports that 327 out of 385 lots sold, which achieved a combined sell-through rate of 85 percent by lot and 94 percent by value
(The trade says that the estimates were purposely kept low, but still, the results were impressive.)

And here's the money quote

“It was as if the recession never happened,” remarked Rahul Kadakia, head of jewelry at Christie’s New York..."

And let's face it, for Goldman Sachs gang there was no recession

Maybe that's who was doing all of the buying at Christie's this week.

Jewelry Biz - Found Objects and Refound Brands

From Idex.com
After reporting this
Petra Diamonds posted an $8.6 million loss for the fiscal year, ending June 30 compared to a $25.5 profit in 2008. Group losses totaled $88.9 million, according to unaudited results announced September 29.

So why is Petra CEO Johan Dippenaar smiling?

Along with the results, the company announced the recovery of an exceptionally large rough white diamond weighing 507.55 carats at its Cullinan mine in South Africa as well as three other white diamonds of 168, 58.50 and 53.30 carats. At 507 carats, the diamond ranks as one of the top 20 largest high-quality rough diamonds ever found.

You'd be smiling too if you found a high quality, high color 507 carat diamond.

But I'm amused about the timing of the announcement. Did they find this diamond months, or even years ago, and then sit on the news until an opportune time to deflect the negative news about the annual loss?

What else going on in jewelryland?

Tiffany & Co. is opening a third store on the Las Vegas strip.

The new store will have approximately 10,000 square feet (930 square meters), a two-storey, 85-foot (25 meter) glass facade, slightly canted over the street and shaped like a diamond.

Why I wonder...can business really be that good?

Every time that I stay at the Bellagio and walk by the Tiffany store it is empty.

Granted this is anecdotal rather than hard evidence but I can' fathom how they can do enough business to justify three retail stores in one small town.

Harry Winston Q2 Retail Weak, Optimistic About Q4

• Total retail sales were down 40 percent.
• U.S. sales were down 48 percent.
• European sales were down 44 percent.
• Asian sales were down 21 percent.
• Sales in Japan were down only 5 percent.

But the good news is that Harry Winston is optimistic about Q4!

and finally we've got

Fabergé Brand Relaunched After 90 Year Hiatus

Famed jewelry brand Fabergé is being resurrected after the new owners of the brand launched a revamped jewelry line. Pieces in the new collection start at $30,000, with an average price of $200,000.

Well I don't know about you but I can hardly wait to see what they come up with in their new collection.

Especially given that the entry level price point is $30,000.

...and that all that expensive stuff will just make Beladora estate jewelry look better!

Got Gold?

From the Telegraph.co.uk
UN wants new global currency to replace dollar

The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world's monetary system since the Second World War.
In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.
It added that the present system, under which the dollar acts as the world's reserve currency , should be subject to a wholesale reconsideration.

With this happening to the dollar it's not much of a surprise that gold is going up

Gold Rallies to 18-Month High on Dollar’s Weakness, Inflation




Sept. 8 (Bloomberg) -- Gold rose to the highest price since March 2008, passing $1,000 an ounce

Looking for the positive spin on all of this...
the rise in gold prices makes newly manufactured jewelry more expensive
which of course makes vintage estate jewelry an even better value

Just thought I'd mention it

Jewelry Biz - James de Givenchy Designing for Sotheby's

Yesterday the very charming James Taffin de Givenchy, nephew of Hubert de Givenchy,
and top jewelry designer with his own line of luxury bijoux, Taffin
stopped by the Beladora HQ to tell us about his new design venture with Sotheby's Diamonds.

As with his designs for Taffin, his Sotheby's pieces are innovative and exquisite using not only beautiful gemstones but interesting materials such as steel, rubber and wood.

Here's the article on his design venture from the Robb Report

So the next time you are at Sotheby's bidding on an impressionist painting or a modernist sculpture, don't forget to stop by the diamond department and pick up a little bijoux by James.

Just Another Day On Rodeo Drive

Jewelry Business - The Bankruptcies Begin

A month of mayhem in the jewelry market.
First the bankruptcy of Michael Beaudry
Then two days ago Henry Dunay

From IDEX

Henry Dunay Designs files for Chapter 11
(June 24, '09, 8:31 Courtesy National Jeweler Network)
Henry Dunay Designs Inc. has filed for Chapter 11 bankruptcy protection, the second high-profile jewelry design company to do so in recent weeks.

In a voluntary petition form filed at the U.S. Bankruptcy Court of the Southern District of New York in Manhattan, the corporation estimated that it has between 100 and 199 creditors. Its assets total between $1 million and $10 million, and its liabilities total between $1 million and $10 million.

The paperwork was signed by the company's attorney and by its president, Henry Dunay, on June 18.

According to the company's Web site, Dunay launched his company in 1965 and has won more than 50 awards in his five decades in the jewelry industry. Robb Report magazine named Dunay "World's Best Jewelry Designer" in 2000 and 2001.

In addition to having his designs line the showcases of high-end stores such as Bergdorf Goodman, Dunay's clientele includes Tom Cruise, Oprah Winfrey and Secretary of State Hillary Clinton, among many others.
Earlier this month, Michael Beaudry Inc., based in Los Angeles and also known as a jeweler to the stars, filed for Chapter 11 bankruptcy protection.

Then yesterday David Webb

From Diamond World

David Webb Inc. files for Chapter 11
The company’s gross revenues were less than$5 million
By: Diamond World News Service

David Webb Inc. has filed for Chapter 11 bankruptcy protection at the U.S. Bankruptcy Court for the Southern District of New York in Manhattan. Its lowered sales have not been able to absorb the high operational costs, or pay off its debts and expenses, owing to the market slowdown. In the fiscal year that ended June 30, 2009, gross revenues from sales amounted to less than $5 million, as compared to gross revenues worth $13.25 million in the previous fiscal.

On June 18, a Board decision was taken to file for Chapter 11. The filing notes 50-99 creditors, assets valued between $10 million to $50 million, and liabilities worth $1 million to $10 million. The 61-year-old family-owned retail and manufacturing jewellery company has stores in Manhattan and Beverly Hills, Calif.

Now the question is

who's next