Former Modi Brands Firestar & Fantasy To Auction Diamond Inventory & IP

Jewelry
13/09/2018 10:27

Billed as a "Great opportunity for retailers, wholesalers, manufacturers and deal-makers!', the bankruptcty trustee of Firestar Diamond, Inc. and Fantasy, Inc. is liquidating the inventory and intellectual property of Firestar and Fantasy, including diamond and jewelry inventories as well as their patents, trademarks and associated jewelry. These companies manufactured and supplied fine diamond jewelry to the largest and most significant retailers and online sellers in the US and globally, but will disappear following the liquidation sales.

Richard Levin, Chapter 11 trustee of the two companies, will sell over $15,000,000 of high quality platinum, 18K, and 14K diamond engagement and bridal rings, 18K, 14K, and 10K diamond studs in medium and commercial qualities, plus bracelets, necklaces, pendants, and ear studs, and over $1,000,000 of loose diamonds. The auction will include, "77 carefully assembled lots of diamonds and jewelry ranging in book price from $25,633 to $326,000. Most lots average approximately $125,000 and could sell for substantial discounts to book price."

In addition to the physical inventory, the trustee will be auctioning "highly sought after Intellectual Property" including dozens of well-known trademarks and and web domains such as "Diamonds Are A Girl's Best Friend", “Faith is Forever” and and the trademark for “Diamond Hub” in the U.S., an Amazon storefront that generated $366,000 in sales between March 2017 and February 2018. Patent rights for the exclusive 96 Facet, 98 Facet, 112 Facet "Opulent Cut", and the 106 Facet "Patriot Star" cut are also included in the Intellectual Property sale.

"There is a lot for every budget and every need. This liquidation auction of current styles and stock could be the buy of a lifetime," the announcement reads. The first live auction will be held Wednesday, September 26, 2018 for the Trademarks and Patents and Associated Jewelry. The next two auctions will be held on Wednesday and Thursday, October 3 & 4. All auctions will be held in New York City (location to be provided to qualified bidders only). Viewing in New York City is available to qualified bidders by appointment only, weekdays, beginning September 6, 2018. All of the details concering the auction schedule, appointments and sales process, as well as a complete list of the jewelry and IP assets up for auction is available on FirestarAuction.com.