PRESIDENT'S CORNER

History has pages for nations, especially those that excelled. The same applies to brands and products. There is no need to go back too far in history to see this trend.In the 19th century, Great Britain was the dominant force in the world– Britannia ruled the waves. The U.S. took this mantle from the British in the mid-20th century. And it seems as though the Chinese are in the process of taking the mantle from the declining American Empire. I was sitting on the porch of our favourite spot at Taj Exotica in Goa, India, observing a gaggle of geese in the pond acting in what was clearly an organized manner - whatever direction the leader took, the remaining geese followed. I assume that none of the geese ever attended  a business school or had been trained, however they acted in quite a purposeful manner  as part of a group. India, which was the crown jewel of the British Empire from the second half of the 14th century, was the predominant source for diamonds entering Europe. Portuguese navigator, Vasco da Gama, discovered the sea route to India in 1498, by sailing around the Cape of Good Hope. This new and easier route soon led to European dominance of the Indian diamond trade. Consequently, the Indians have been in the diamond trade for over 600 years. Taking another sip of my gin and tonic it suddenly dawned on me that Vasco da Gama not only discovered the route to India but also opened the gate to the Portuguese diamond trade in Goa. And I am now sitting at a luxury hotel in Goa watching a gaggle of geese and trying to understand how the history of the world developed hand in hand with the diamond business. I was thinking about the warning my son mentioned that the U.S. may default on its trillions of national debt. I calmed myself with the thought that the senators who are opposing to extend debt ceiling will eventually come to a compromise. The U.S. Treasury has printed trillions of dollars, predominantly held by the Chinese- so what are they worried about? No such thing can ever happen in India. I tried to figure out how this chaotic continent became a leading economic player? What makes the Indians so successful? Upon arrival at the Taj Exotica, the hotel presented us with a welcome back brown cake. It was a very touching gesture; however, following a stern warning about maintaining a low calorie intake, we did not dare to touch it. On the second day, the cake started to attract the attention of the ants and flies. They became really excited and filled the room, disrupting my afternoon nap. I contacted housekeeping to remove the cake with the flies. Two serious looking guys promptly arrived; one holding a tennis racket. I was a bit taken aback; was this guy going to chase the flies away one by one? What a novel service! I was a bit skeptical but knowing the problem-solving ability of the Indians, I thought I would just wait and see. The guy surprised me - he just passed the racket around the flies and I realized it contained an electric trap. In less than two minutes all the flies had been taken care of, swiftly and efficiently. Once again, I learned a great lesson - executive  power has to be simple, clean, and electrifying. Approximately 30 years ago, India was the biggest consumer of sugar in the world.Last year India was recorded as the biggest gold consumer. India accounted for 24% of total world gold consumption in 2010, with the fastest growth rate. That is more than the US. What a dramatic transition - from sugar to gold. The diamond industry in India employs 1 million polishers; the number of software engineers may be even greater. However half of the products exported from India are consumed by the U.S. So how can it be, that even with its economic troubles, the U.S. is still the biggest consumer market of the world? If China and India became so rich and successful serving America and selling their diamonds and software to the USA – with almost all sales on credit and borrowing – how can it be that America is in dire financial straits? My G & T was finished and I understood - the world is round, what is down today, may be up tomorrow; only values and principals will prevail. The U.S. has values and they are willing to make sacrifices. The sun rises in the East but sets in West. Diamonds don’t lose their sparkle, they are forever.        

We named our company LEIBISH, Leibish is my name, my first name. It means a lion, and you have to be a lion to survive in this jungle. We could have selected a fancy name, but we prefer not to hide from our customers. It is important to us that our clients know there are real live breathing people behind the brand. I want my customers to know me, my wife and five children are behind every piece of jewelry we sell. Leibish Polnauer, Founder and President of LEIBISH We don’t use software to help us select the goods that are seemingly, the best value for our money. Rather, we examine each of the diamonds and gemstones before adding them to our collection, just as all jewelers did 50 years ago. In fact, I would say that the vast majority of goods we look at are immediately rejected. To assess the finest diamonds and be able to differentiate between two stones with a similar certificate, you need to be an expert gemologist. I am comfortable enough to say, we are experts. LEIBISH's GIA Certificates A colored diamond or a fine emerald is similar to a painting. When you want to buy an important piece of art, you consult with an expert, and it’s the same when it comes to buying our goods. You consult a real expert for value, for quality, and for craftsmanship. None of that information is included in the GIA certificate. The first criteria looked at is the color saturation of the face (or table) of the stone. We study the stone and give it an in-house grade, anywhere from 1-10, before we even look at the GIA diamond report to see what they said. For example, the color face up is much more important than small details of clarity. A fine intense yellow diamond with a VS2 clarity grade is much more valuable than a weak intense yellow with a VVS1. You would be surprised just how many educated people in the industry are unaware of this basic information. I see it day after day. Especially when it comes to these products, people do their research. They read all the information they can get their hands on and then come to me asking for the specs. They get obsessed with what they learned about colorless diamonds and under the assumption that a diamond is a diamond, apply the same values to colored goods. Fancy Intense Yellow Diamonds Fancy Vivid Yellow Diamonds On paper, a VVS1 is more valuable than a VS2. Both groups in each of the images shown above are similar stones with very similar clarity grades. Believe it or not, the certificates are nearly identical. Although in the focused image you can see a difference, how can a layman really know which are the best group of stones when looking at it with a naked eye? The skill is knowing what to look for and where to look for it. Shmulik Polnauer my son is a GIA GG - a real expert. At age 25, he bought a 3ct vivid blue on his own, and I wasn’t looking over his shoulder. He has proved his himself a many times over, and anyone in the trade would happily vouch for him, hands down. He puts his signature on the appraisals. Shmulik Polnauer Louping a Yellow Diamond When buying an important diamond, knowledge is crucial. The certificate gives you a great guideline, but you need someone you can trust to find the most appropriate stones. The LEIBISH New York Showroom Look at the images of the yellows above and just try to identify which stone is of the best value. When you are facing a big decision for a fine stone, contact us. I promise that good advice from a reliable firm with 40 years of experience never hurts.

LEIBISH Mogok Vivid Pink Sapphire and Green Tsavorite Bombe Ring The Splendor of Mogok The world’s legendary jewels have all hailed from mysterious and exotic lands in far flung regions. The Star of India, that mammoth 6-rayed star stone was recovered from Sri Lanka. The Cullinan Diamond, the largest diamond ever found, was mined in South Africa. And the enormous Jewel of Kashmir sapphire required heroic efforts to uncover it high in the Himalayas over a century back. Mogok city (Photo Credit to Naw Htike) The Road to Burma The Mogok Stone Tract in upper Burma has also been synonymous with the world’s most cherished jewels dating back some 2,000 years. Remote and inhospitable, this southeastern Asian country has famously produced remarkable jewels throughout time. This special tract is famed for ruby, sapphire, spinel, peridot, and moonstone. “For centuries, the Mogok Stone Tract’s hills were legendary for such amazing abundance that locals were said to come upon gems just glinting in the grass in their gardens,” reports the American Museum of Natural History in their published work, Ruby Land: The Gems and Geology of Myanmar’s Mogok Stone Tract. Miners in the Kadoke-tat mine (Photo Credit to Federico Barlocher) Ruby Land Ahead While it may be difficult to acquire these sumptuous stones today, it is still possible to those persistent enough to endure the rigors of Burma (Myanmar). The region’s highway boasts a “Welcome to Ruby Land” sign foretelling the approximately 1,000 working mines still found there. LEIBISH Burmese Marquise Ruby and Heart Diamond Three-Stone Halo Ring The exceptional 4.60 ct vivid red Mogok Splendor was mined in the monsoon-ridden subtropical valley of Kadoke Tat (or Kadote-dat). It was recovered from the natural marble fissure in Mogok Township a decade back. In Asia these stones are traditionally called Burma Ruby. The mine is acknowledged for its fine rubies and other gemstones.After being polished by a local craftsman, the crystal revealed its superb quality. The no-heat Mogok Splendor rivals the most incomparable of Burmese sapphires. Mogok Gems  The Trophy for Mining Hardship Mining gemstones, especially in this rugged terrain, is both grueling and fraught with danger. The miner has to move tons of marble and carefully scan the results for quality corundum. The miners must inspect hundreds of tons of marble just to find a worthy crystal. Miners in the Kadoke-tat mine during hard and dangerous labor Inside the Kadoke-tat mine The Valley is blessed with coveted gems including rubies and sapphires embedded in its creamy white marble that must be brought to the surface.   The stone embedded in motherock crystal of marble Vivid red rubies have increased in prominence following the closure of the Argyle mine in 2020.  While they are not cheap, they have a winning price point when contrasted to the stellar prices of pink diamonds. The Mogok Splendor Burmese ruby and sapphire are currently the darling of auction houses and reaching exceptional prices for fine goods. Collectors are quick to identify a superb stone when they see one and they understand they represent exceptional value while bringing a lifetime of enjoyment. LEIBISH Mogok Vivid Pink Sapphire and Green Tsavorite Bombe Ring LEIBISH Extraordinary Burma Unheated Red Ruby and Diamond Halo Ring

Luxury is part of magic. I often hear that luxury is about selling dreams. But I actually think luxury is not about dreams but rather it’s about magic. Luxury is a form of magic, which transforms and uplifts the nature of things, just as magicians and fairies do. Cartier the Alchemist Luxury maisons do not create that ethereal dream world, rather they embellish it by adding something completely enchanting to it. Jean Cocteau wrote about the legendary House of Cartier, describing its founder as a ‘subtle magician’. Cartier helps us see beauty wherever it may appear, including in the mundane like nails or screws. They become transformed into precious artifacts, objects of desire---just like that. They make the ordinary extraordinary, like an alchemist. LEIBISH Extraordinary No Heat Oval Sapphire and Diamond Side Stone Ring Transformation of Luxury The magic of luxury also has an effect on the one who wears these treasured creations. Precious stones carry energy and mystery, having been mysteriously forged below the Earth millions of years ago. Colorful stones have been collected, horded and fought over since time immemorial. From that they naturally evolved into potent symbols of royal or religious power. They hold a fragment of eternity. They render confidence. They enhance life and elevate the soul.   LEIBISH 1.73 carat, Fancy Intense Pink Diamond, Emerald Shape, SI1, GIA & ARGYLE Modern Times In the realm of luxury especially, jewelry takes on a mystical quality. Even so, modern times call for transparency all the way around-- on materials, processes, origins, and supply chains. The whole thing. One can wonder if this new era of transparency is compatible with magic. Will it not kill the mystery? I can’t see that it will kill the mystery because magic is not an illusion---luxury remains. The more one sees a true artisan’s craftsmanship, the more awe it brings. The more one understands the sum of technology and the know-how necessary to magnify beauty, the more amazing it becomes. The more one wears carefully curated jewelry. the more confident one feels. That luxury piece of jewelry is alluring—and so is the woman wearing it. LEIBISH Rosie's Bloom Collection Power of Love in Action When Luxury maisons create beautiful settings, it unleashes an ephemeral magical transformation, revealing its true charm and allure. Like Cinderella´s fairy godmother whose touch temporarily revealed Cinderella’s true self--- let’s experience the magic of love in operation.  LEIBISH Exceptional Fancy Vivid Yellow Green Radiant 3 Stone stone Diamond Ring