RAPAPORT… A selection of jewelry and intellectual property belonging to Nirav Modi’s Firestar
Diamond and Fantasy businesses will be up for auction at the JCK Las Vegas show.
The sale will feature $3.5 million worth of Nirav Modi jewelry, including wedding bands, bracelets and necklaces. Purchasers will also be granted the patents to reproduce the
jewelry in the US and other countries, according to the Gem Certification and Assurance Lab (GCAL), which is organizing the event.
Firestar’s liquidators have already auctioned several of the
lots from Modi’s US companies, including the trademark rights to “Diamonds Are
a Girl’s Best Friend,” which was purchased for $50,000 in October.
The sale will take place on June 7 at GCAL’s JCK booth. It is the eighth in a series of sales of Modi’s US assets. The Indian jeweler, who allegedly defrauded Punjab National Bank of $2 billion, was arrested in London in March.
Image: Firestar jewelry that will be offered at the auction. (Gem Certification and Assurance Lab)
Nirav Modi Assets Set for Vegas Auction
The Bottom Line
- The auction includes $3.5 million worth of Nirav Modi jewelry such as wedding bands, bracelets, and necklaces.
- Buyers will receive patents to reproduce the jewelry in the US and other countries, as organized by GCAL.
- This is the eighth auction of Modi’s US assets following his arrest over a $2 billion fraud involving Punjab National Bank.
More Stories
Rio Tinto Sells Argyle Pink Diamonds Brand to Luxury Jewelry Group
Boodles will acquire the remainder of the miner’s inventory.
FedEx Advantage Offers Member Shipping Discounts and Flexible Delivery Options
FedEx Advantage gives eligible members access to shipping discounts, flexible delivery options and more than 18,000 package drop-off locations.
AGTA President to Join CIBJO Board of Directors
Group elected Bruce Bridges to its executive committee to recognize his long-standing involvement in the trade.
