Fine Jewelry

We all know that this recession, as well as rapidly increasing material prices, has led “fine” jewelers to try things that they wouldn’t ordinarily—buying gold from the public, for example, and stocking silver and charms. Now, generally, I thought these were good moves, as they brought jewelry stores into contact with a broader range of customers. It also showed that a few of the old categories in our sometimes-stodgy industry were breaking down.

However, today, I was talking to a diamond manufacturer who told me about a so-called fine jeweler that was stocking cubic zirconia, partly in response to rising diamond prices. And perhaps it’s my background covering the diamond industry, but this gave me pause. This struck me as different than carrying lower-quality diamonds and even moissanite.

Now, granted, there is nothing really wrong with this; retail should be about giving customers what they want. But I wonder about it from a marketing standpoint. After so many years of the industry touting the superiority of diamond over cubic zirconia, what kind of message does this send? After all, someday this recession—and the rise in metal prices—will end. But the consumer perception of the store could be forever altered.

Fines Jewelrys

We have shown you numerous pieces of jewelry that adorned Elizabeth Taylor, but here is the final item that we will showcase.

The famous La Peregrina Pearl.


The perfectly symmetrical 55.95 carat pearl is the largest in the world, found in the early 16th century by an African slave on the coast of the isle of Santa Margarita. His discovery won his freedom and the pearl was given to the Spanish administer for the Panama colonies, Don Pedro de Temez.


The pearl travelled to Spain and was given to Phillip II of Spain who later presented it to his wife Mary I of England. After her death in 1558, the pearl was returned to the the Crown Jewels of Spain where it remained for the next 250 years! During this time it became the favorite gem of many queens (such as Mariana of Austria and Queen Elizabeth!)


In 1808, Napoleon's brother, Joseph Bonaparte, became the King of Spain. After only 5 years of reign, however, he was forced to flee due to his defeat at the Battle of Victoria. He, of course, took some of the Crown Jewels with him, including the magnificant Pearl! It was at this time that the pearl recieved the name, "La Peregrina," which means the "The Wanderer." (An appropriate name when you consider how many people wore it!!)


Continuing to wander, the Pearl was handed down to Joseph's nephew and then later sold to James Hamilton, later Duke of Abercorn. He of course, presented it to his wife, Louisa.


Because of the weight of the Pearl, it fell out of its necklace setting on two separate occasions while Louisa was wearing it. One time it was discovered in a sofa at Windsor Palace, the second time it dropped out during a ball at Buckingham Palace! Luckily, both times it was recovered and reset.


The Hamilton family owned the piece until 1969, when they sold it at auction at Sotheby's in London.


This is, of course, where Richard Burton purchased the stunning Pearl for $37,000! He gave it to Elizabeth Taylor (during their first marriage) as a Valentine's Day gift.


Even Elizabeth lost the precious pearl once at their suite at Ceasar's Palace in Las Vegas. She wrote in her book about the experience:


"At one point I reached down to touch La Peregrina and it wasn't there! I glanced over at Richard and thank God he wasn't looking at me, and I went into the bedroom and threw myself on the bed, buried my head into the pillow and screamed. Very slowly and very carefully, I retraced all my steps in the bedroom. I took my slippers off, took my socks off, and got down on my hands an knees, looking everywhere for the pearl. Nothing. I thought, 'It's got to be in the living room in front of Richard. What am I going to do? He'll kill me!' Because he loved that piece."


After (quietly) panicking and racking her brain, Taylor happened to glance at her puppies. One of them looked to be chewing on a bone, but no one had given the dogs any bones. She continues:

I just casually opened the puppy's mouth and inside his mouth was the most perfect pearl in the world. It was- thank God- not scratched."


She later commissioned Cartier to re-design the mounting, setting it with other pearls, diamonds, and rubies in a more secure setting!


In 2005 she loaned it to the Smithsonian Institution for their "The Allure of Pearls" exhibition.


"The Wanderer" indeed! That Pearl has been everywhere, including a dog's mouth! Can you imagine owning a piece of jewelry that queens have worn?!