AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
SourcingOct 17, 2018
‘Diamonds Are a Girl’s Best Friend’ Goes for $50K
The trademark and web domain for the famous phrase was auctioned off among other IP and inventory belonging to Firestar Diamond and Fantasy Inc.
A grouping of rings and wedding bands manufactured by Firestar Diamond Inc., one of the three U.S.-based, Nirav-Modi-owned companies that filed for bankruptcy earlier this year. Intellectual property and inventory belonging to Firestar and Fantasy Inc. were sold between Sept. 26 and Oct. 4. (Photo credit: Firestar Diamond Inc.)
New York—Intellectual property and loads of engagement rings, wedding bands and other diamond jewelry made by Nirav Modi’s former companies have been sold.
Richard Levin, the trustee handing the Chapter 11 bankruptcy case for Firestar Diamond Inc. and Fantasy Inc., said he conducted sales of Firestar and Fantasy inventory between Sept. 26 and Oct. 4 in New York.
Among the items finding buyers was the trademark on and web domain for a well-known song with the word “diamonds” in the title.
Court papers filed Sept. 27 show that a company called ABG Intermediate Holdings 2 LLC paid $50,000 to use “Diamonds Are a Girl’s Best Friend” in the United States, Canada and the European Union.
According to Moody’s, ABG Intermediate Holdings 2 LLC does business as Authentic Brands Group, a New York-based company that owns more than 30 brands including Neil Lane and Judith Leiber as well as Marilyn Monroe, meaning it owns the right to make and sell products bearing the late actress’ image and likeness.
Monroe is the one who made “Diamonds Are a Girl’s Best Friend” famous, singing it in the 1953 screen adaptation of “Gentleman Prefer Blondes” while surrounded by well-dressed men offering her jewels.
Authentic Brands Group did not respond to request for comment on its future plans for “Diamonds Are a Girl’s Best Friend.”
All told, the late September/early October sales of IP and inventory that once belonged to Firestar Diamond and Fantasy Inc. totaled about $5.7 million.
Closeout company SimplexDiam Inc. bought a big chunk of the inventory that was offered, paying $1.9 million for 28 lots of jewelry that included diamond engagement rings and wedding bands, court records show.
CEO Yogesh Madhvani said the company will have the bulk of what it bought available for purchase at the upcoming JIS Miami show, which is scheduled for Oct. 19 to 22 at the Miami Beach Convention Center.
Other significant purchases included:
— KGS Jewels Inc. paid $340,000 cash for three lots of intellectual property, including two proprietary diamond cuts, the “Patriot Star” and “A Perfect Cut;”
— H.K. Designs paid $169,000 cash for the trademark on “Diamond Hub,” an Amazon storefront;
— JewelEx New York Ltd. bought the IP for Firestar’s contour band for $410,000;
— Diamond Traders International Ltd. bought 13 lots of jewelry, castings and findings for about $850,000 total; and
— Fairway Diamond Inc. bought 10 lots of loose diamonds and
Editors' Picks
Sponsored by
jewelry for a total of $543,700 in cash.
Levin said the items sold represent a “substantial portion” of what remains of the two companies, which filed for bankruptcy back in February after news broke that the companies’ owner, Modi, had been implicated in a scheme to bilk India’s Punjab National Bank out of $2 billion.
All purchases are subject to approval by the federal judge handling the bankruptcy case.
Levin said he still has “substantial inventory” remaining and is working with advisors on ways to market it.
Levin said the items sold represent a “substantial portion” of what remains of the two companies, which filed for bankruptcy back in February after news broke that the companies’ owner, Modi, had been implicated in a scheme to bilk India’s Punjab National Bank out of $2 billion.
All purchases are subject to approval by the federal judge handling the bankruptcy case.
Levin said he still has “substantial inventory” remaining and is working with advisors on ways to market it.
The Latest
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
Weekly QuizAug 27, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
FinancialsAug 27, 2026
Movado’s Q2 Sales Up As Younger Consumers Take Interest in WatchesThe fashion watch category was once threatened by the Apple Watch, but consumers are now opting for new wearables, said Movado’s CEO.
SurveysAug 26, 2026
5 Jewelry Insights From The RealReal’s Resale ReportThe report delves into trending styles, the most popular jewelry brands by city, and why Belle Époque jewelry could be the next big thing.
Lab-GrownAug 26, 2026
AGTA Now Requiring Members to Call Lab-Grown Gems ‘Synthetic’The association added the requirement to its revised "Code of Ethics" and released the 17th edition of its “Gemstone Information Manual.”
SurveysAug 26, 2026
Consumer Confidence Dips in August Amid Anticipatory Anxieties Respondents were concerned about the future of the labor market and their income as well as the rising prices of gas and groceries.
TrendsAug 26, 2026
Boucheron’s New Campaign Celebrates Its ‘Question Mark’ NecklacesThe campaign highlights the asymmetrical high jewelry necklace style that the jeweler first created in 1879.
Events & AwardsAug 26, 2026
Harry Winston Exhibition to Open in ShanghaiIt will explore the life of “The King of Diamonds” and showcase more than 165 creations from the brand.
CrimeAug 25, 2026
Florida Woman Scammed Out of $1.5M in Jewelry, Precious MetalsTwo suspects have been arrested in connection with the complex phone scam.
ColumnistsAug 25, 2026
Proof Before Purchase: The Gen Z Way to BuyIn her first column for National Jeweler, Jennifer Shaheen asks jewelers if they know how to connect with the next generation of consumers.
Events & AwardsAug 25, 2026
SSEF Opens 2026 Applications for Gemology Education ScholarshipsThe annual awards cover tuition for an on-site educational course at the Swiss lab, as well as flights and lodging.
TrendsAug 25, 2026
Brent Neale Celebrates Blackberry Farm’s Anniversary With JewelryThe jeweler partnered with the Tennessee resort to honor its 50th anniversary with limited-edition blackberry pendants and earrings.
EditorsAug 24, 2026
Q&A: Reeds Jewelers VP Genna Zimmer on 80 Years in BusinessThe third-generation jeweler shared how the North Carolina retailer is celebrating this milestone and the love story that started it all.
Events & AwardsAug 24, 2026
Rio Grande, MetalWerx Host Argentium Silver WorkshopThe class, led by renowned metalsmith Cynthia Eid, highlighted Argentium silver as an alternative to gold amid high prices.
