Jacob & Co. Generates Highest Sale at Sotheby's Auction
(New York, NY – November 10, 2008) – At the recent Sotheby’s Magnificent Jewels and Jadeite auction in Hong Kong the highest bid was for a spectacular Jacob & Co. cushion-shaped diamond ring. Featuring a 34.07 carat, D color, internally flawless stone, the ring commanded an impressive $5.78 million, and was acquired by a private collector. The fourth highest selling item, also from Jacob & Co., was a set featuring a necklace, earrings and a ring in yellow gold with white and yellow diamonds totaling approximately 79.40 carats that fetched $960,624.
Jacob & Co. has built a global business, offering an elite clientele one-of-kind jewelry and the world’s most exquisite diamonds. "It is a source of genuine pride for me to see our pieces be among the top selling items at one of the most prestigious jewelry auctions in the world," states Jacob Arabo. "This is not only a testament to the exceptional quality of the stones we use and our fine craftsmanship, but also the strength and appeal of the Jacob & Co. brand internationally."
With the rising levels of economic uncertainty, many sectors of the luxury market are experiencing rapid decline. Sales at Jacob & Co., however, have remained steady, particularly at the high end. Extremely affluent customers are confident in purchasing statement jewelry from trusted brands, as they recognize the inherent value and "recession-proof" nature of exceptional stones. Jacob & Co. is currently creating several custom pieces for clients in the US and abroad. In addition, the firm is in an aggressive expansion mode. Later this month, Jacob & Co. will open a flagship boutique in the Dubai mall. Also in the works is a Jacob & Co. luxury residential property in Dubai.