Crypto News: Summer of sparkle

Hi, I'm Kristen Shirley, a Bloomberg Pursuits contributor and the founder of La Patiala, the luxury encyclopedia.

While I write about everything expensive and shiny with the goal to educate others in their appreciation, jewelry is one of my biggest passions. I love the craftsmanship and design and consider jaw-dropping gemstones natural miracles,formed deep underground millions of years ago. They inspire me all the time. (And yes, they can be ethical.)

Just look at these! Diamonds, of course, but yellow sapphires, peridots and alexandrite are among gems that set my heart on fire. Photographer: Joanna McClure for Bloomberg Businessweek

In a world awash with dupes, the challenge of replicating the look, feel and beauty of real gemstones is evident, even in Hollywood. The jewelry on Bridgerton is laughably bad; The Crown failed with Princess Diana's famous pearl necklace by using a lobster clasp instead of a hidden one; and actress and noted jewelry and watch collector Michelle Yeoh dismissed the initial engagement ring for Crazy Rich Asians because it was not good enough—and brought her own emerald ring to feature in the film.

Bridgerton aside, real tiaras are still a thing—and big money for auction and jewelry houses. Illustration: Qianhui Yu

These days more collectors and designers are focusing on big, bold statement pieces that simply can't be re-created by mass-market companies. These pieces feature massive gemstones and intricate designs that require an experienced human touch to create.

The statement piece, like these Briony Raymond, Belperron and Retrouvai designs, has been making a not-so-stealthy comeback. Photographer: Joanna McClure for Bloomberg Businessweek

I've seen plenty of glittering diamonds and colorful cabochons and other stunning stones wasted on a tacky or boring design. That's why independent designers are my favorite. They're not beholden to a luxury brand's rich heritage and can branch out and do whatever they want.

A recent necklace from Taffin is a showcase for two massive aquamarines. Photographer: Joanna McClure for Bloomberg Businessweek

Fernando Jorge has been one of my favorite independent designers since he launched his company. I first discovered him at a small stand during London Fashion Week, and it's been thrilling to watch him develop into a top independent brand. His strong aesthetic, known for swooping lines and volume, makes him one of the best designers working today.

I also adore Boghossian, a sixth-generation jeweler that has chic designs and uses inlays to craft distinctive pieces. Temple St. Clair leans on traditional techniques at her workshop in Florence, Italy, turning out a menagerie of bejeweled critters and gorgeous amulets. Other favorites include Vanleles, Anna Hu, Ana Khouri and Hemmerle, which each have recognizable designs and the best craftsmanship.

Not to be left out, luxury brands are betting men are ready to embrace fancier jewelry, too. Source: Louis Vuitton

On the other hand, many big brands work within the rigid borders of the brand's codes. Louis Vuitton, for example, leans heavily into its monogram with custom-cut diamonds—and you can see it a lot on its new fine jewelry collection aimed at men. Chanel has a diamond necklace in the shape of a perfume bottle. It has an exceptional 55.55-carat D Flawless diamond at the center, but the market for that specific design is surely quite limited.

One notable exception is Boucheron, which releases two high-jewelry collections a year. The first pays homage to historic pieces and the Boucheron style, and the second is called Carte Blanche and gives its creative director free rein to explore wild sources of inspiration and materials, such as copper, marble and aerogel.

Boucheron's Holographique collection features flashing opals, colored gemstones—like this 20.21-carat yellow sapphire here in the center—and holographic ceramic and rock crystal. Source: Boucheron

In Businessweek's annual jewelry special, we highlight the work of independent Greek designer Nikos Koulis, revered for his out-of-the-box designs and settings and instantly recognizable aesthetic, and Taffin, a New York-based jeweler known for its use of colorful ceramic and gemstones. I hope it inspires you to pick out a bold piece of jewelry and wear it with pride.

Connect with Kristen on Instagram or via e-mail.

Charlize Theron is the new face of Dior high jewelry. I can't wait to see her front campaigns in Dior's wild floral jewelry.
If the pre-wedding celebration in March is anything to go by, the bling on view at the Ambani wedding in July is going to be next-level.
Nicolas Bos, who transformed Van Cleef & Arpels into a "powerhouse" will now lead Richemont. It's incredible to see someone so creative and thoughtful become the CEO of a massive luxury conglomerate.
De Beers' parent company wants to sell it off. Is this a sign of the decline of natural diamonds?
The New York Jewels Auction at Phillips is headlined by a 45.07-carat fancy vivid yellow diamond, with a high estimate of $3.5 million. I'll be heading to the preview to see this exceptional stone in person.

And don't forget timepieces! Gem-set and high design watches have come into the spotlight, like this vintage Patek Philippe in gold with pearl and enamel accents. Source: Sotheby's

I'm spending my summer between Cape Cod and New York, but I want to plan some big travel for later this year. I'm itching to get on a plane and go to a sumptuous hotel. And it can even be affordable. Care to join?

Four Magical Places in Italy That Few Tourists Know About
I love Italy, but prefer to visit the Amalfi Coast in the shoulder season, when it's still stunning and warm but not overcrowded. And now I have even more of the country to explore.

Denmark's Beaches Set Visitor Records as Weather in the Med Heats Up
The heat waves expected in Europe this summer are going to be intense. If I were to book a jaunt, I'd head to northern Europe where it's cooler and still beautiful.

Doesn't this just look blissful? Klitmøller Beach in Denmark's Jutland. Photographer: Mette Johnsen/VisitDenmark

Michelin Guide Awards Its First Hotel Keys in the US
While the Michelin Guide has its problems with restaurant ratings, I wholeheartedly agree with the majority of its three-key hotels in the US. Although I'm a little surprised Crosby Street Hotel made the list, because I found the service to be so slow that I stopped going there. Now I'm intrigued enough to return.

The Seven Best New Luxury Hotels in London
Five-star hotels in London are always exquisite, and I'm thrilled at the new crop of places to bed down. The renovation of Claridge's is very exciting, as is the new Raffles in the former war office.

Hyatt's new line of luxury Japanese ryokans look pretty enticing, too. Source: Kiraku

Six Ways Congress Plans to Make Flying Better With the FAA Bill
It recently took me 13 hours door-to-door for a 30-minute flight to Cape Cod. What did I get for my pain? A $12 meal voucher that couldn't be spent on a much-needed drink. I hope Congress can actually get something done and improve our experiences.

The Top Nine New Places to Eat, Drink and Party in the Hamptons This Summer
I usually stay in the relative calm of Sag Harbor when I head to the Hamptons, but there are few new openings that might entice me to leave and explore a bit more.

For wherever you travel, here's nine works of fiction or nonfiction that you can take from the boardroom to the beach.

I'm very late to the audiobook craze, but now I'm obsessed. GraphicAudio produces dramatized audiobooks with a full cast, and they suck you in. Listening to one makes workouts and housework fly by. I particularly like its Sarah J. Maas fantasies.

Coqodaq opened in New York City earlier this year, and it serves three of my favorite things: fried chicken, caviar and Champagne. I highly recommend the golden nugget, which is a chicken nugget topped with caviar. Although it's one of the few times I preferred trout roe instead; the roe really cuts through the rich meat.

Coqodaq's caviar-topped golden nugget—although I recommend the trout roe. Photographer: Evan Sung

Speaking of Champagne, the Coravin Sparkling is my favorite wine tool. It keeps a bottle of sparkling wine fresh for up to a month, so I can have a glass at home without wasting the rest of the bottle.

I'm excited for Glen Powell's new movie Hit Man to arrive on Netflix on June 7. It premiered at the Venice Film Festival and has received rave reviews. He's such a charismatic actor, and I love dark comedies.

It's rom-com season! With a dash of danger. Glen Powell and Adria Arjona in Hit Man. Photographer: Brian Roedel/Netflix

Just based on the name, Beefbar, I didn't want to like this restaurant, which has outposts all around the world. However, the steak frites was one of the best I've ever had, and the servers were so nice and friendly. I'll be back.

Summer is almost here, so it's time to slather on the sunscreen. I just got this SPF 50 sunscreen oil from Supergoop that protects the skin and gives it a glowy finish.

Click through for 13 more sunscreen recs, from mineral to kid-friendly. Source: Supergoop

We call for queries weekly on our Instagram account and via e-mail. Here's what you were dying to know about this time around.

Is jewelry an investment?

Not all jewelry is created equally. Some loses its value instantly, while certain pieces do make fabulous investments. A little while back, I wrote an article explaining everything you need to know about investing in jewelry. The key points are to purchase signed jewelry from an in-demand name and focus on top-quality gemstones and important designs.

If I could only invest in one piece of jewelry and wear only that, what would it be?

This is a tough question! I love jewelry, and a dream of mine is to have a massive jewelry wardrobe. But if I could pick only one piece, I'd buy a diamond riviera necklace. You can dress it up or down, and I love the sparkle. Kwiat makes great riviera necklaces.

A diamond riviera necklace would be my desert-island bling. Source: Kwiat

I love rubies but don't know anything about them. Help!

Rubies are one of the "big three" colored gemstones, along with emeralds and sapphires. The finest rubies are pigeon's blood rubies from Burma, but these are rare and extremely expensive. If you're looking for a more affordable ruby, color is the first factor to consider. Look for a really vibrant red hue with a rich color. If it's too orange, too purple, or too light or dark, it's not a great example.

China's rush to rubies inflated prices a few years back—but aren't they beautiful? Photographer: Sarah Anne Ward for Bloomberg Businessweek; Prop stylist: Margaret Jones

What's the best way to repurpose or redesign a family heirloom?

First, get it appraised. Some pieces might be sentimental but aren't expensive enough to justify the cost of reworking the piece. If it is, find a jeweler whose style you like and ask if they do custom pieces. Many do. Or, you can bring some inspiration pieces to a local jewelry store that has a bench jeweler on staff and work with them.

I had a tennis bracelet with an '80s-style design—lots of yellow gold—redone to create a couple of pairs of diamond earrings and a more modern white-gold bracelet. It was a longer process than I anticipated (about eight weeks), but I got great use out of the new pieces. Another time I had a diamond pendant necklace reset at a typical Diamond District shop and that took two weeks all in.

I think Jemma Wynne does a great job redesigning family heirlooms, and if I had a significant stone that I wanted to make into a cool ring, that's where I would go.

How to invest in jewelry: gems, designers and eras to know. Photographer: Joanna McClure for Bloomberg Businessweek

What's your POV on lab-grown diamonds?

I'm curious to see what happens in the diamond space, and I wonder if natural diamonds will see the same fate as wild pearls. Mikimoto cultivated pearls in the early 20th century, and they were at first met with some backlash. But ultimately their uniform, unblemished appearance, beautiful luster, availability and affordability won out, and the price and demand of wild pearls crashed.

The same thing could happen to natural diamonds if lab-grown prices continue to drop and consumer sentiment changes. If you want to know more about the history of pearls and natural diamonds, I recommend Stoned: Jewelry, Obsession, and How Desire Shapes the World by Aja Raden. It's a fascinating and surprisingly light and engaging read.

And if you love pearls—but not the classic white look—here's a primer on unique pearl varieties that are truly something. Photographer: Sarah Anne Ward for Bloomberg Businessweek

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