Official Blog for World Jeweler, Inc. - Premier Diamond Buyers

Kate Middleton’s Engagement Ring was Princess Diana’s

2011-04-25T16:16:00.000-07:00

The engagement of Prince William with Kate Middleton has everyone talking. Prince William gave his soon to be wife his mothers wedding ring. This is the only way of making sure that my mother didn’t miss out on today” said William as he and his fiancé post for a picture in St. James’ Palace.

So if any of you guys are wondering what the ring look like here is a short description: it’s a dazzling oval, 18- carat blue sapphire and white diamond ring.

Prince William waited and proposed the right way. He asked her father for Kate hand first before proposing to her. He then popped the question and asked her. However he was very nervous when he did, he said “I was not sure she would say yes. How could I be?”

Pope Paul VI's jewelry for sale in eBay auction

2011-04-12T10:42:00.000-07:00

An opulent jeweled cross and ring once owned by Pope Paul VI sits in a North Carolina jewelry store awaiting the winning bidder for an eBay auction.

As odd as it may sound, it is true; the Wilmington store owner is a Southern Baptist with a flair for self-promotion - allowing him to meet with figures such as UN Secretary General U Thant and Evel Knievel. This interesting journey began with Paul VI's decision to have some of his jewelry to be sold to raise money for charity.

One of the jewelry pieces is a pectoral cross, given to clergy who achieve a rank as bishop or higher. The eBay post advertises that the ring is a 12.75-carat diamond solitaire cut encircled with smaller diamonds. The cross holds 12 main diamonds over 60 carats in total diamond weight, and is coated in smaller diamonds and emeralds.

Paul VI donated the ring and cross to the UN during a 1965 visit, requesting that they be auction and the proceeds to be used to charity. Chicago jeweler Harry Levinson purchased the set in 1967 for $64,000, and the money was divided among 4 UN agencies. Over the years, the jewels changed hands several times, and was even owned at one point by Evel Knievel.

Presently the owner of jewelry store, Perry's Emporium, has ownership of the papal jewelry.

"This is new for me," said owner Alan Perry, who estimates that the items may fetch somewehere between $800,000 and $900,000 at auction. "That's why we're going to put it up on eBay. It's only worth what someone's willing to pay for it, and eBay might be a good measure to see if people are interested."

Perry plans to put the jewelry set on public display starting April 14 through Holy Week, with armed security watching closely.

Source: Associated Press

Natural Sapphire Company Produces A Royal Blue Sapphire Ring

2011-04-04T16:09:00.000-07:00

The Natural Sapphire Company has created a ring styled after the royal ring that Prince William gave to his Fiancée, the same ring that once belonged to his mother, Princess Diana.

This royal blue sapphire ring is 69.35 carats, with very, very slight inclusions (VVS2). At the center of the ring sits a brilliant blue sapphire stone surrounded by 16 round diamonds equaling to a total of 8 carats, with all of the stones intricately set on a platinum band.

The price of the ring comes to a total of $1.5 million but there are smaller versions of the ring being offered from between $1,000 to $100,000.

http://www.diamonds.net/news/NewsItem.aspx?ArticleID=35198&ArticleTitle=+Natural+Sapphire+Co.+Markets+Royal+Blue+Sapphire+Ring

Flawed Diamonds perfect for Quantum Memory

2011-03-28T11:21:00.000-07:00

Scientists have found a way for diamond crystals to store quantum information.

Atoms are manipulated inside the diamonds so that they hold information long enough for quantum memory, encoding information in states that are both 0 and 1 at the same time, not the strings of 0s and 1s calculated by conventional computers.

flickr.com/Jennifer Dickert

The perfect diamonds for these are not from Harry Winston, Tiffany & Co., or the type to sell to buyers like World Jeweler. Flawed diamonds work best.

David Awschalom of University of California, Santa Barbara reports, “Oddly enough, perfection may not be the way to go. We want to build in defects.”

Nitrogen stands as one of the most common defects in diamonds, turning the stone yellow. When a nitrogen atom is next to an empty spot in the carbon crystal, the atom gives off an extra electron that moves into that spot. Several years ago, scientists have learned that using microwave energy can change the spin of those extra electrons, and have put them to work as quantum bits, or qubits.

Awschalom discovered how to connect the electron spin to the spin of the nearest nitrogen’s nucleus, providing a more stable way to store information. Triggered by magnetic fields, this transfer happens very fast at about 100 nanoseconds.

Diamond memory works at room temperature. The electron spins within the diamond can be manipulated and measured by shining a laser light into the diamond. This could provide high potential for scientists to use diamonds for developing nanophotonic systems to move and store information in packets of light.

Quantum memory isn’t forever, but it does last for quite some time by quantum standards. The nuclear spin stays coherent, or stable, for a little more than a millisecond, with potential to last up to seconds.”

Sebastian Loth, physicist at IBM’s Almaden Research Center in San Jose, California, clarifies, “You can only do your quantum magic as long as you have coherence. If you have a lifetime of milliseconds, that lets you do millions of operations.”

Source: Science News

A Hollywood Icon and her Diamonds

2011-03-23T11:14:00.000-07:00

Widely known for her Hollywood legacy and her love affairs, Elizabeth Taylor admits that her greatest love affair was with her jewelry.

“You can’t cry on a diamond’s shoulder, and diamonds won’t keep you warm at night, but they sure are fun when the sun shines,” Taylor once said about her collection.

Some key statement pieces of her diamond and jewelry collection include the Krupp diamond, the 69-carat Taylor-Burton diamond, La Peregrina Pearl, and the Taj Mahal Diamond.

She even marketed her love of jewelry into a brand, imbued notably in her classic “White Diamonds” fragrance, whose ad campaigns often had her draped in gems and diamonds.

In 2002, the actressed published “My Love Affair with Jewelry,” an oversized volume chronicling her prolific jewelry collection.

Additionally, some of her most regarded jewelry pieces come from her tumultuous marriages to Richard Burton, with whom she met on the set of “Cleopatra.”

The Taylor-Burton Diamond

They acquired the Krupp diamond, the Grand Duchess Vladimir Suite, the La Preregrina Pearl, and the massive Taylor-Butron Diamond, a 69-carat pear-shaped diamond. For Taylor’s 40^th birthday, Burton gifted her with the heart-shaped Taj Mahal diamond.

Some of her most treasured pieces were gifts from her ex-husband Mike Todd, who would lavish her with jewelry “just because.” Showman Mike Todd gave her a suite of Cartier diamonds and rubies just for swimming laps in a pool.

Taylor would deliberately wear her jewels uniquely. During the time she worked with hairstylist Alexandre de Paris, he would find ways of adorning jewelry into her hair, such as fastening a broach or weaving a string of pearls into an updo.

Later in her years, Taylor would often lend her jewelry to museums for exhibitions. “I am only their guardians. Just like a painting, you can’t own jewelry,” she said.

Dame Elizabeth Taylor passed away March 23, 2011, at the age of 79.

Steve Forbes to be named Keynote Speaker for GIA Symposium 2011

2011-03-17T10:50:00.000-07:00

The Gemological Institue of America (GIA) has announced that Steve Forbes will be the Keynote Speaker for Symposium 2011: Advancing the Science and Business of Gems. Forbes is known for the renowned business franchise of the same name, as chairman of Forbes Media and editor-in-chief of Forbes magazine.

The GIA Symposium 2011 is an international conference where gem industry business leaders and researchers gather to share insights and reports that impact the world gem and jewelry industry. All experts represent a wide range of disciplines, with talks spanning across different topics, such as: trends in consumer behavior, design trends, social media, luxury marketing, advances in gem treatments and technology; and the social, political, and ethical controversies around the production and distribution of diamonds and gems.

"We are extremely pleased to have Mr. Forbes serve as our keynote speaker," said Kathryn Kimmel, co-chair of the Symposium and GIA vice president and chief marketing officer. "He is a significant touch point in the global business landscape, which ideally positions him to address some of the most important business issues facing our industry today."

“Attendees will be challenged to think strategically and expand both the scope and geography of their business, which is necessary in today’s economic environment,” Kimmel added. “Forbes’ commitment to leadership and success, along with his global economic insight, are sure to leave a lasting impression.”

The GIA Symposium 2011 will be held at the Institute's world headquarters in Carlsbad on May 29 and May 30. This year will commemorate the 80th anniversary of GIA.

Source: GIA

Tiny Diamonds could be a new weapon against Cancer

2011-03-15T11:20:00.000-07:00

Swamiblu / flickr.com

US researchers have reported that they can fight late-stage breast and liver cancer tumors by using tiny carbon particles known as nanodiamonds. These nanodiamonds work with potent chemotherapy drugs to shrink normally chemo-resistant tumors.

This is not the type of diamond adorned on jewelry and accessories. Without the nanodiamonds, the drug would be ineffective on the tumor or even be rejected by the body; or higher doses of it would be too powerful for the patient to survive.

"This is the first work to demonstrate the significance and translational potential of nanodiamonds in the treatment of chemotherapy-resistant cancers," explained the results of the study, published in the journal Science Translational Medicine.

Chemotherapy drug resistance results in treatment to fail in 90% of cancers that have spread inside the body, or metastatic cancer. The new research development shows promise to be used by humans in the future.

The lead author Dean Ho of Northwestern University reports that "What is most interesting from this study is when we took an even higher dose of the drug, the dose was so toxic that the animals all died. They didn't even last long enough to finish the study."

"But when we took the same higher dose and bound it to the nanodiamond, not only did all the animals survive the study, the tumor sizes were the smallest we saw in the study."

Nanodiamonds are usually formed in explosions, such as in coal mining or oil refinery operations, and may also have formed from meteorite landings.

"What is neat about it is it is almost like a waste material, it is going to be produced anyway," said Ho.

"So instead of throwing it out, taking this by product and simply processing it with things like acid washing, milling, sonification, it can yield very uniform particles of between two and eight nanometers in diameter."

Ho estimated that it would likely be a few more years before the therapy would go on the market; researchers would first have to look at how the technique works in larger animals before human clinical trials can start.

The Rare and Elegant Yellow Diamond of the Argyle Mines

2011-03-07T15:49:00.000-08:00

Often white or clear diamonds are known to be more valuable but there has been a misconception about colored diamonds. To many people these diamonds are more valuable than the white diamonds because of the intense color. The Kimberly Octahedron, which is 616 carats, is considered one of the largest and most valuable colored diamonds in the world.

Kimberley Octahedron

Since these colored diamonds are very rare, many jewelers may never see one at all. In most cases yellow diamonds have been treated. Among 100 of the largest diamonds taken from a sample, thirty will be yellow, one will be a fancy yellow, and one will be treated.

Among the largest and most rare colored diamonds, are those that originate from the Argyle Mine in Australia.

http://www.yellowdiamonds.co.uk/

Pink Diamond could be worth $15 million at auction

2011-03-04T11:24:00.000-08:00

A purple-pink 10 carat diamond could fetch up to $15 million when it goes up for Magnificent Jewels auction in April 12.
The 10.09 Fancy Vivid cushion-cut is expected to be the highlight of the auction being held next month in New York.

Renowned fine art auctioneers Christie's have reported that prices for large pink diamonds have soared recently, with four pink diamonds going for over $1 million per carat since late 2009.

Increasing demand and rarity have driven prices, making pink diamonds the most expensive colored diamonds currently on the market.

"Collector demand for large coloured diamonds have never been stronger, especially where pink diamonds of this size and quality are concerned," affirmed Rahul Kadakia, head of jewelry at Christie's in New York.

Christie's set a per-carat record in December 2009 for any diamond at auction when the Vivid Pink 5-carat cushion cut diaond sold for over $2.1 million per carat in Hong Kong.

The auction house disclosed that less than 10% of all pink diamonds mined weigh over .20 carats, and even fewer exhibited the deep purple-pink saturation and brilliance as the Fancy Vivid to be auctioned.

The 10.09 carat Fancy Vivid had an richer, deeper hue than a 6.89 carat Fancy Vivid purple-pink diamond that sold for $6.9 million in December. "I have never seen such vivid color in a stone of this size," said Kadakia.

There are only a few mines in the world that produce rough pink diamonds. According to Christie's, out of those stones that are cut an polished, only 1 in about 10 million diamonds have color pure enough to be graded Fancy Vivid.

Homeless Man Receives Diamonds with Change

2011-02-28T11:29:00.000-08:00

In Pontiac, Michigan, A homeless man in southeast Michigan received not only bits of change but also a gold ring laced with diamonds.

The homeless man, Michael Secaur, was panhandling at an intersection in Pontiac on Monday when a woman, who pulled up to give him change may have accidentally given him the gold ring.

The homeless man was thinking about pawning the ring but he though he would only receive $20 to $50 for it so he decided that it would be worth more for the woman to have it.

The homeless man states that he will give it back to the woman if he saw her again, but for now he has the ring in a safety deposit box in the shelter he is staying at.

http://www.msnbc.msn.com/id/41783645/ns/us_news-wonderful_world/

The World's Most Expensive Purse

2011-02-25T13:27:00.000-08:00

Valued at $3.8 million, the "1001 Nights Diamond Purse" has been officially crowned by the Guinness Book of World Records as the world's most expensive purse.

The bag is encrusted with 4,517 diamonds, comprised of 105 yellow, 56 pink, and 4,365 colorless diamonds. The total carat weight of those diamonds on the heart-shaped bag come out to a grand total of 381.92 carats.

It took 10 artisans 1,100 hours to handcraft and create the purse from 18-carat gold over a period of 4 months

The 1001 Nights Diamond Purse was created by Pascal Mouawad, co-guardian of the House of Mouawad founded in 1890. "The Mouaward 1001 Nights Diamond Purse is designed to mesmerize with its lavish attention to detail and elaborate workmaship incorporating thousands of diamonds," said the Dubai-based designer.

Mouawad and the jewelry design house have created several objects heavily encrusted in diamonds before, including the Very Sexy Fantasy Bra for Victoria's Secret.

The diamond purse sat on display at the Doha Jewellery and Watches Exhibition over the weekend of February 20.

All That Glitters Exhibit at the San Diego Natural History Museum

2011-02-23T09:51:00.000-08:00

This exhibit is guaranteed to be exciting and interesting with a stunning selection of spectacular natural mineral crystals, exquisite jewelry, and works of art.

On display are California’s own treasures including: benitoite, gold, kunzite and morganite.

See objects on display for the first time ever and see stunning gems and jewels on loan from major U.S. museums including: The Smithsonian, The American Museum of Natural History, The Newark Museum of Decorating Art, Gemological Institute of America (GIA), and Harvard University Mineralogical Museum

This exhibit is to last from May 15, 2010 through April 8, 2012 but please check with the San Diego Natural History Museum for Admission and Dates

http://www.sdnhm.org/exhibits/allthatglitters/

Demand for Diamonds brings Good News to Petra

2011-02-22T11:45:00.000-08:00

Diamond prices have recovered beyond 2008 pre-recession levels thanks to a limited supply, a rebound demand in Western countries, and a zealous market in the growing middle classes of India and China.

Generally speaking, this bit of good news benefits diamond miners; but particularly Petra, the largest pure play listed diamond miner, makes one of the largest gains as a result of rising diamond prices.

Somewhere between 80% - 90% of the world production of diamonds is used for jewelry, as measured by value. Rough diamonds worth around $10 billion per year get turned into reail jewelry sales worth six or seven times as much.

After several acquisitions, Petra now has seven producing mines. Six of those are in South Africa, of which Petra (in cooperation with Black Empowerment partners) owns between 70% - 74% of each mine. Petra has a 75% interest in its seventh mine in Tanzania.

The Cullinan mine brought 80% of the half year's output of 582 thousand carats, dominating in production out of all the mines.

Source: Yahoo!

Argyle Pink Diamonds Debut in Mumbai

2011-02-07T09:56:00.000-08:00

The famous argyle pink diamonds debuted at the Nirav Modi salon in Mumbai. The debut featured a signature piece, The Shalimar Ring, which features 4.86 Carats of Argyle pink diamonds with a 1.25 carat pink round diamond centerpiece. The ring is valued at approximately $2 million.

http://www.rapnet.com/News/NewsItem.aspx?ArticleID=34433&ArticleTitle=Argyle+Pink+Diamonds+Debut+at+Nirav+Modi+in+Mumbai

A New Jewelry Collection That Combines Classic and Modern Design

2011-02-02T10:15:00.000-08:00

http://shop.ivankatrumpcollection.com/

A new jewelry collection that combines heirloom and modern design is released in Toronto’s flagship jewelry store, Birk’s on Bloor. This new line of Jewelry labeled, “The Ivanka Trump Collection,” features tassels, Deco-inspired diamonds, black onyx, white agate, mother of pearl and rose gold. This collection is priced to range from $500.00 up to $24,000.00.

http://www.rapnet.com/News/NewsItem.aspx?ArticleID=34294&ArticleTitle=Ivanka+Trump+Jewelry+Now+Available+at+Toronto+Birks

Argyle Diamond Mind Celebrates 25th Anniversary with a Special Limited Edition pendant

2011-01-31T11:47:00.000-08:00

http://www.argylediamonds.com.au/

Rio Tinto’s Argyle Pink Diamonds is celebrating 25 years with a special limited edition Argyle Pink Diamond “O” pendant with a limited production of 100.

The pendant holds more than 1 carat of argyle pink diamonds and set in 18-karat rose gold. The “O” is mounted on a diamond set on an 18 karat white gold link chain, with each diamond laser inscribed with its own limited edition number. Each pendant will also bear its own certificate of authenticity.

http://www.rapnet.com/News/NewsItem.aspx?ArticleID=34317&ArticleTitle=Argyle+Pink+Diamonds+Celebrates+25+Years+with+Special+Pendant

Letseng Mine Gains Record Prices in 4th Quarter

2011-01-24T09:59:00.000-08:00

Diamonds of the Letseng Mines
(http://www.letsengdiamonds.co.ls/)

Gem diamonds have received a 54% sales increase from its Letseng mine during the 4^th quarter of 2010. Overall sales from the mine increased by 62% to $80.7 million

Included in the sales were three exceptional white rough diamonds of 196 carats, 184 carats and 116 carats which sold for $28.5 million, or $57,427 per carat, while a 4.68 carat blue sold for a $725,400, or $155,000 per carat. A total 48 stones sold for more than $20,000 per carat.

Read the full article @ http://www.rapnet.com/News/NewsItem.aspx?ArticleID=34244&ArticleTitle=Let%c5%a1eng+Mine+Achieves+Record+Prices+in+4Q

eLearning Course for Pearls offered by the GIA

2011-01-21T14:33:00.000-08:00

The gemological institute of America is offering a new distance learning course in pearl knowledge and skills. Upon completion of the course a GIA certificate of completion.

The distance learning course offers tools to instruct students on how to distinguish various types of pearls and recognize treatments and imitations.

http://www.gia.edu/educational-programs/index.html

Quick and Easy Steps to Cleaning Diamonds to Renew Shine and Brilliance

2011-01-19T14:50:00.000-08:00

Rings of any size and shape are susceptible to collect grime, dirt and other debris that we encounter in our daily lives. For diamonds to stay in magnificent condition there must be routine maintenance to ensure that the luster is never sheltered by a dull veil. Do clean with discretion as some jewelry may have certain finishes that can be difficult to clean if not handled carefully.

When handling your jewelry to be cleaned be careful to safeguard your cleaning area from losing any stones or fittings as these get loose with age and wear. For delicate jewelry you will use a damp and soft cloth made from non-abrasive material. For a more thorough cleaning you can use mild soap and warm water while gently brushing into the grooves and crevices with a soft bristled took brush or cosmetic brush.

If you find your jewelry to be very dirty you can use ammonia and a soft bristled brush. This method is often a safer approach for diamonds and all faceted colored stones except those such as emerald that might be filled with oil. Do not attempt to use ammonia for organic gems such as pearls or any jewelry that may have foil-back stones or stones that may be glued into the mountings. If you are unsure we recommend going to a professional.

For more advice on cleaning please check out:

http://www.appraisers.org/Consumer/ConsumerLibrary/JewelryCleaning.aspx

How the cut of your diamond may profile your personality

2011-01-12T11:43:00.000-08:00

We’ve all heard the saying, “Diamonds are a girl’s best friend”, and so perhaps the best friend can tell us about the girl. After reading this article you may find that ring’s description charts your personality and style word for word, while others, like reading a fortune cookie, may find that these descriptions are so general that they could fit anyone’s wants and perception of themselves. Whichever the case it’s always intriguing what our possessions may tell about us. Here are a few examples:

The Oval Engagement Ring. You indulge and want the most extravagant of luxuries. What this says about your relationship: Together you and your partner are in a very involved codependent relationship. Your wedding: Particular attention to detail and polished, colorful yet classy.

The Round Engagement Ring. You’re traditional and your style is simple yet attractive. What this ring says about your relationship: You’re marrying your best friend, the person who shares the small stuff as well as the large and who knows how to brighten your mood on a rainy day. Your wedding: Classic style that is romantic and planned to perfection.

The Emerald Cut Ring. You’re sophisticated and a socialite, a center of attention. What this ring says about your relationship: In your partner’s eyes, time slows down and you become an idol. Your wedding: It is the main event of the year and guaranteed to be talked about by all of your friends.

The Cushion Cut Ring. You’re unique, independent and set apart from the rest. What this ring says about your relationship: Close but spacious where you can stand on your own in times you want to get away. Your wedding: It is a reflection of your independence; it holds classiness while being distinctive.

For the full detailed list visit:

http://lifestyle.msn.com/relationships/staticslideshowtkt.aspx?cp-documentid=26418663&gt1=32092

A Spectacular Wedding Gift for the Royal Couple

2011-01-10T14:44:00.000-08:00

Prince William, 28 and Kate Middleton, 29

Prince William and Kate Middleton may be receiving an extraordinary wedding gift from billionaires located in Saudi Arabia. The set of 301 colored diamonds is valued at $93.3 million dollars and were supposed to have been a wedding gift for Princess Diana and Prince Charles in 1981. These gems were to be purchased in the past by the Saudi Arabian Royal Family, but gem dealer Eddy Elzas declined to finalize the sale.

Although the offer to purchase these diamonds in the past was declined, it has been rumored that Elzas is now looking to sell this luxurious set in the condition that it goes to the Royal newlyweds.

Special Event in San Diego for Showcasing and Buying Jewelry and Gold

2010-12-08T10:50:00.000-08:00

Click Ad For Directions

This week, from the 8^th through the 11^th, Golden Treasures Jewelers in Solana Beach will be hosting a Special Buying Event for scrap gold and jewelry. The specialized team of gemologists will also have a fully equipped gemological laboratory, giving complimentary appraisals for jewelry and precious metals such as gold, platinum, and silver.

Diamonds 1 carat and over,
Signed jewelry, Tiffany, Cartier, Van Cleef, Graff, Lacloche, Oscar Heyman, etc.
Vintage period jewelry: Art Deco, Retro, Victorian, Important
Complicated watches: Patek Philippe, Vacheron Constantine, Breguet, Audemars Piguet, Rolex, etc.
All US gold coins. All US silver coins (dated 1965 and before)
Gold in any form, new used or broken.

The funny thing is, many people may have some of these valuable items without even knowing it!

Come see this event for yourself:
Golden Treasures Jewelers

124 S. Solana Hills Dr

Solana Beach, CA 92075

858-481-7729

Follow Golden Treasures on Twitter

RSVP on Facebook

Duchess of Windsor's Jewels Fetches $12.5 Million in Auction

2010-12-01T10:35:00.000-08:00

Jewelry once owned by Wallis Simpson, former Duchess of Windsor, went on the auction block and sold for $12.5 million late Tuesday in London. The entire collection included 20 brooches, bracelets and other gems. Most noted items included an onyx and diamond Cartier bracelet in the shape of a panther along with a jewel-encrusted flamingo clip and a heart shaped brooch.

The emerald eyed panther bracelet alone sold for a surprisingly $7 million, the highest price ever received at auction.

This collection of jewelry was last sold in 1987 for $50 million, a record for a jewelry collection.

http://today.msnbc.msn.com/id/40443226

Jeweling Buying up 22% this Thanksgiving Weekend

2010-11-29T10:51:00.001-08:00

More consumers bought jewelry during this thanksgiving holiday weekend that last year. A survey conducted by BLGresearch reported that 14.3% of shoppers bought jewelry during this holiday weekend in comparison to last year’s 11.7%.

Total spending, online and physical stores, grew 9% or $45 billion, averaging $365 spending per shopper.

http://www.rapnet.com/News/NewsItem.aspx?Articleid=33540

Engagement Ring of Ponzi Schemer Madoff Sold on Auction Block

2010-11-24T09:36:00.000-08:00

Bernard Madoff's once lavish lifestyle has been selling off at auction at the Sheraton New York Hotel and Towers. Reported sales estimated at $2 million dollars including luxury items such as paintings, a grand piano, designer clothes and personalized slippers. The most significant item on the block was the 10.54 Carat emerald cut engagement ring once owned by Madoff and his wife Ruth. The anonymous bidder paid $550,000

http://today.msnbc.msn.com/id/40169595/ns/today/