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Smuggled diamonds up for auction

By ANNA CHALMERS - The Dominion Post found at stuff.co.nz   | Thursday, 29 November 2007

Diamonds  are usually a girl's best friend. But when they are worth $250,000 and have been illegally smuggled into the country, they become an art auctioneer's best friend.

The dazzling contents of a diamond-smuggling ring - busted by customs officers checking mail - will go under the hammer next Wednesday at Webb's in Auckland.

Officers were tipped off to the collection, which has a retail value of $250,000, after a package of loose diamonds was discovered during a routine X-ray check.

Included in the collection are a pair of two-carat round diamonds (about eight millimetres in diameter) and a 112 carat princess cut diamond.

Smuggled Diamonds at Webb's auction in Aucklandphoto: JOHN SELKIRK/Dominion Post

SMUGGLED DIAMONDS BUSTED: 
The dazzling contents of a diamond-smuggling ring - busted by customs officers checking mail - are to go up for auction. Webb's jewellery consultant Christopher Devereaux eyes one worth $58,000.

Webb's jewellery consultant Christopher Devereaux said the owner had paid the ultimate price in trying to evade duty and gst on the jewels.

"It was just a really dumb thing to do. To [try and] save a very small amount of money, a very, very significant amount of money has been lost."

Customs investigations and response manager Paul Campbell said that after discovering the diamonds, officers delivered the jewels to the importer, who had 20 days to complete paper work.

When nothing was received a search warrant was executed and several packages of diamonds seized.

"As a result of our inquiries, we were aware he loaned diamonds out to jewellers on a consignment basis [payment received once diamonds sold] and that some of these also had not had the duty and gst paid on them."

Officers seized the collection and the importer was prosecuted at Auckland District Court in June last year.

Mr Devereaux said though the exact history of the jewels was unknown, they were not "blood diamonds" - the name given to black market trade in diamonds to fund civil war.

The jewels had arrived in standard "diamond papers", carefully folded to protect them.

Webb's regularly carried out auctions for Customs at a "trade rate", Mr Devereaux said.

Mr Campbell said proceeds from the diamond sale would go into the Government's "consolidated fund".

DEC 5 2007

Fine Jewellery & Watches

EVENING PREVIEW

Thurs 29th Nov

6pm - 8pm

PHONE

09 529 5606

EMAIL

Chris Devereaux

CATALOGUE NOW AVAILABLE

A splendid offering which will appeal to collectors, connoisseurs and Christmas shoppers alike, with hundreds of pieces covering a wide variety of tastes and prices.

Featured are a few selected pieces from the private collection of Elizabeth Hargrave, the unquestionable Grand Dame of the Antique Jewellery trade in New Zealand ,which are illustrated (right)

Also featured are 30 lots of loose diamonds being sold under instruction from NZ Customs which include two very good quality (F/G) diamonds of 2ct each, other solitaires up to 1.5ct and parcels of smaller stones.....all to be sold without reserve.

Suitable entries are still being accepted, but don't delay as entries close end of October.

 
 

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