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Sotheby's & Steinmetz shake hands to launch desirable diamonds

Jul '05
A famous premier auction house Sotheby's and The Steinmetz Diamond Group announced the creation of Sotheby's Diamonds - an important jewelry joint venture offering the rarest and most attractive diamonds in the world and exquisite diamond jewelry.

Sotheby's Diamonds combines Steinmetz's expertise in diamond cutting and polishing along with Sotheby's connoisseurship and international client base. The first jewelry collection will be unveiled in New York and Hong Kong in December 2005.

Patti Wong, who is Chairman of Sotheby's China and Southeast Asia, will be Chairman of Sotheby's Diamonds, which will be overseen by Marc Auclert, head of Sotheby's Jewelry business in Europe and Asia, and Nir Livnat, CEO of Steinmetz.

Patti Wong commented, "This relationship with Steinmetz is a very exciting development for Sotheby's. The Steinmetz Group creates some of the world's finest diamonds and their cutting and polishing skills are legendary. These assets combined with Sotheby's expertise, brand name, international client base and worldwide marketing reach present a compelling opportunity at the highest end of the jewelry market."

"Steinmetz is delighted to be part of this exciting joint venture. The unique retail channel gives us both the opportunity and challenge to excel in the field of exquisite diamond jewelry. Sotheby's esteemed client base will enjoy the best diamonds set in the best designed jewelry," said Nir Livnat, CEO of Steinmetz.

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