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Welcome to the GiltTrips podcast. I'm your host, Kendra Lockhart. As a goldsmith and

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gemologist, I'll be speaking 24 karat on all things jewelry, metals, and gems. Join

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me plus a few friends to demystify both materials and designs as your private jeweler. Let's

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tune in on these topics and get golden. In 1947, Cosmopolitan magazine dubbed him the

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King of Diamonds. Six years later, he was one of three jewelers called out in a performance

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by Marilyn Monroe on the solar screen. He owned over one third of the world's most

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famous and valuable stones, created the undisputed standard for new design, superior craftsmanship,

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and commitment to rare excellence and beauty. He was a dark horse during the hardest times

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of American history. Harry Winston would become a name that is globally recognized and remembered

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for the most famous jewels, acquired notable collections, had epic patrons, and was a purveyor

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extraordinaire at auctions. How did this private soul go from modest man to overlord of the

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industry and become a household name? What genius did he possess that made him unstoppable,

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even in a century of wars and a stock market crash? In today's episode, we will discover

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the rise of an entrepreneur who has equal parts, purveyor, profiteer, publicist, and

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philanthropist. Let's explore his growth, strategy, style, and marketing through seven

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decades. Timestamps for the chapters will be in the show notes.

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In 1896, Harry Winston was born in New York to his Russian immigrant parents, and his

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father was a bench jeweler. He worked in the family shop and at age 12, Harry had his first

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innate gemologist moment. Apparently he was producing a pawn shop and spotted a two-carat

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emerald ring at 25 cents. He bought that and a second one to distract from his keenness,

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which he would sell for $800 within 48 hours. That's over 3,000 times what he paid. And

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it would set the tone for his business chops with estate knowledge, brokering, and reselling

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his purchases. A year later, his father would move the family and the business out to Los

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Angeles, a bit of a foreshadowing for Harry's future relationship involving the film industry,

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which would soon make the jump from silent movies into the world of talkies.

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After World War I, Harry would return to his hometown of New York and go solo in 1920 as

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the premier diamond company. Initially, his roles were that of over-the-counter buying

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plus appraising. He is just 24 years old at this point. And within five years, he had

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acquired two of the most prominent estates of American socialites. In 1925, he bought

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the lot of Rebecca Darlington Stoddard, a coal heiress and a woman who was very charitable

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with children's causes, who had sadly died from childbirth 12 years prior. And the following

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year, that of Arabella Huntington, widow of a railroad magnet who married well not once,

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but twice, leaving her former life of poverty. The second purchase was for $1.2 million.

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In today's value standards, that would exceed $17 million. Excessing both high society and

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industry giants was a powerful step one in his domination. It would not be long before

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the glass ceiling to overseas royalty was shattered as far as desirable clientele. But

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what he did next with this collection was daring. Arabella had primarily had all of

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her jewels done by Cartier, and at the turn of the century, that company was designing

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for the British crown, which still owned India. The look was very formal and exceedingly ornate.

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Very considered it outdated for America, which was in the midst of the Roaring 20s. Expression

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was showing up in women's voting, jazz music, sound movies, and a high tide of new affluence

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from the industrial area, or in some cases, bootlegging like Gatsby. Unlike Cartier,

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Winston believed the gem should dictate the setting.

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The last decade would end with economic turmoil. In 1929, the United States would nosedive

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into the Great Depression, a dark hat trick of the Wall Street crash, banking failures,

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and government policies that would harm not help with world trade. Amidst business failures,

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decline in employment and rising prices, Harry Winston opens his eponymous new store in 1932,

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three years into the chaos. He begins to manufacture jewelry under his name, with his future wife

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Edna and her taste and style helping with the print ads. Despite the devaluing of assets

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around the world, just three years later, he would purchase the raw diamond, known as

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the yonker, for $700,000, weighing 726 carats, which would be cut into 12 impressive diamonds.

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Harry would put his purchase in a parcel with the U.S. Post Office, uninsured for $0.64 to

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his New York office. He said, if you can't trust the U.S. Post Office, who can you trust?

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A photo with Shirley Temple holding the raw crystal made for a charming black and white

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picture to the general people. A U.S. cutter by the name of Lazar Kaplan took the risk

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and got the reward after a year of studying and planning the facets. Harry's shrewdness

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of buying low and reselling at great margins was in his DNA, but the people needed feel

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good news and signs of hope. Harry had been featured in an article to a prior purchase

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in 1930, the formula of quote, immigrant son does good, unquote. But this deal created

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such public excitement that he toured the gem, and it would be the subject of a short

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film produced by MGM Studios in 1936. And now we see the beginning of his mutually beneficial

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alliance between Harry and Hollywood, as well as the second step of his winning formula.

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First it was product, now it's publicity. We enter the 1940s and hey, another war. But

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at the dawn of this decade, Harry had hired the creative head named Nevden Kumryan, chief

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of the design studio. Nevden sketches birthed the signature cluster style, incorporating

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assortments of pair cups, marquee shapes and round diamonds into various groupings and

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angles to maximize beauty. And this design would be a great counterbalance to fashion.

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Old Hollywood had an abundance of leading ladies, but the outerwear was post war utilitarian

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and boxy. Harry, being a passionate Pisces, offered creations capturing allure, softness,

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and a dreamy vision for diamonds and gems. His clientele was now international, thanks

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to his famous investments. In a handful of years, he would possess the Hope Diamond,

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the hexagonal Stokesbury Emerald, the 90 karat briolette, and would be dubbed by Cosmopolitan

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magazine as the King of Diamonds. He would also receive a letter from the Duchess of

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Windsor, yep, that gal who had Queen Elizabeth's uncle leave the throne that we mentioned in

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the last episode with Cartier, and he would become jeweler to the Marrage of Indore. That

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commissioned necklace, along with other treasures, would go cross-country on an exhibit called

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the Court of Jewels, because Harry wanted, quote, the public to know more about precious

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gems, unquote. This four-year tour would generate donations to worthy causes, and be the final

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ingredient in his success playbook. Popularity.

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The 1950s were key in his exposure and cementing him as a household name. Harry would get dubbed

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jeweler to the stars. As that strategic partnership satisfied Hollywood's appetites of attention

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and uniqueness, while he gained their visibility and consumer attraction. A brilliant marketing

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move, and an even smarter solution for an introvert who was intensely private and refused

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to be photographed for fear of being held up and robbed. In 1952, Life magazine ran a

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feature on his empire, noting that Harry held the largest historic collection of jewels

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outside the British crown. In 1953, he gets a name drop directly from Movieland by Marilyn

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Monroe in Gentlemen Prefer Blondes. It would be the first, but not the last time his company

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gets mentioned in films. A year later, the touring jewels finishes, and America is done

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with the Korean War. This decade would see Winston's brand expand into Geneva, Switzerland,

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and two years later into Paris, France. Near the end of the decade, Harry donates the hope

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diamond to the Smithsonian, again mailing a priceless gem through the post office. I'll

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say more about the legend of the curse on that, which clearly Harry was quite immune

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to, but as of today, over 7 million visitors can witness this in the museum thanks to him.

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The 1960s start with the company moving to a bigger New York location to accommodate

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its breakneck speed, growth, and the need to house the design studio, manufacturing area,

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showroom, and loose diamond department under one roof. This decade would be an enormous

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shift culturally, politically, and socially. The president, John F. Kennedy, would get shot

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on national television. Civil rights movements would organize and demonstrate. America would

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go to yet another war, this time in Vietnam, and the hippie area of wanting peace and love

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to prevail would both unite and divide. Meanwhile, two highly important diamonds for the country's

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most famous women would realize in the second half of the 60s through Harry Winston's brand.

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In 1966, Winston bids and wins a rough diamond weighing 241 carats from the Premier Mine in

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South Africa, the same name as his first company. He gets it cut into a 69 carat pear shape.

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In 1967, the sister of a billionaire publisher buys it, but based on turmoil in the times,

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she isn't okay with the risk of wearing it out in New York City. So she sends it to an

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auction in 1969. Elizabeth Taylor, Hollywood's queen, and one half of the power couple with

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fellow actor Richard Burton, previews it in Switzerland, and the couple arrange a limit

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of $1 million to bid upon it. But they had some stiff competition. The king of diamonds

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himself ready to rebuy it, and Aristotle Onassis, a Greek shipping tycoon who had met Jackie

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Kennedy when she was married and while he was dating her sister. Who wins the diamond?

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Neither of those men. Cartier, Cartier won it, which historically had been underbidding

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against Winston before. Richard Burton was famous for his looks, his talent, and his

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tantrums. While Liz was accepting of the outcome, her husband went into a 24 hour maniac episode

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where he was berating Cartier to buy it no matter what, $2 million, or his life, whichever

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was greater, as he wrote in his journal. Richard went so far as to say that the world's most

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lovely diamond belongs on the world's most lovely woman, and that he would have an absolute

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fit if it went to Jackie, or Sophie Loren, or Mrs. Huntington Misfit of Dallas. Petty.

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But he got his way, and the diamond would be named for the pair. Taylor did not like

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wearing it as a ring, which is how it was purchased, so it went into an $80,000 commission

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necklace, which cleverly hid her tracheotomy scar from her life-threatening battle with

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pneumonia. But the stipulation is Cartier gets to show the ring in its New York and Chicago

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locations, a play straight out of Winston's book for making jewels viewable by the public.

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Let's bring Jackie Kennedy back into the mix. She is widowed with the country's cameras

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rolling in 1963. Meanwhile, her sister, who is dating Aristotle on asses, gets Jackie

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invited onto his yacht to soften her grief. Whom does she go running back to when her

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brother-in-law Bobby is assassinated five years later? Jackie is fearing for the life

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of her children and wants to leave the country. And in doing so, she ends up with the Lesotho

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Diamond as her 71-carat engagement ring. The raw was cut into 18 diamonds, and Winston

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had the genius at this point to request a live broadcast of the cutting. Now how he got

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the rough? He went over to Brazil and then to Antwerp, and once it was his, mails it.

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Yes, the good ol' post office oversees back to his office. The luck of this guy.

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The 1970s ends a glorious run with Harry's death in 1978 at age 82. Two years prior,

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he had acquired a rough diamond he would cut into a 72-carat pear shape just in time for

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the country's bicentennial, or 200-year anniversary, and he called it the Star of Independence.

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Harry would carry it in his pocket so as to have such a perfect stone, both dear and near

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to him, and in a final act of shrewdness, talent, and patriotism for the country as a first-generation

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American. He would repeat this also in 1976 with another perfect pear shape he named the

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Washington for our country's first president. His legacy in the world of gems, American

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business, public relations, designs, diamond cutting, dressing the A-listers decade after

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decade came to a conclusion. Harry also popularized the pear cut in all styles of adornment and

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brought the Asher cut engagement ring to the forefront of people's attention. Lastly,

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he elevated the prominence of emeralds and made it into the film industry. His business

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would be handed down to his second generation of both of his sons. Unfortunately, they would

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get locked into a decade-long battle with each other, and finally in 2000, Ronald and

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a firm would buy out his brother Bruce for $54 million. But at least in the time that

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it was in their hands, the company would launch watches in 1989, which may have foreshadowed

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the acquisition of Harry Winston by the Swatch Group, a Swiss conglomerate primarily representing

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timepiece companies. Nyla Hayek would take on the role of CEO and be pivotal in Harry

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Winston's three power moves in the auction world. She led the continuation of the Winston

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legacy of holding the best jewels we can find. The first in 2013 at Christie's, the company

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would bid on and win a 13.22 carat flawless vivid blue pear-shaped diamond for $26 million.

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Five years later, in 2018, also at Christie's, a diamond whose weight of 18.96 carats matched

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the year of the founder's birth, a fancy pink vivid, for $50 million, which was faceted

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as an emerald cut pattern. And lastly, in 2017, Christie's for the third time would auction

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off a square-cut Colombian emerald for $5.5 million and 18 carats, the most expensive

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emerald per carat to date, and an heirloom in the Rockefeller family.

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Let's move on to a few bullets dodged. Harry's victory, as far as being a business titan,

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was almost thwarted when he was just in his 20s. An employee had cleaned him out. And

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fortunately, due to his sterling reputation, Harry was able to secure a loan and repeat

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his magic, this time with less gullibility regarding others. While he would work alone,

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he would also regain the ground lost by 1920. Perhaps the most important stone that he's

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known for, the Hope Diamond, has kind of an interesting backstory. It was stolen in 1642

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from a temple in India, and this diamond would create a cult status of being cursed. Jean

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Baptiste Tavernier was a French traveler and purveyor of exotic goods. He went to India

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due to the lore of an abundance of colored diamonds. So he buys the rough, and when he's

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back in the homeland, Louis XIV, the son king of France, invites him to share adventures

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and show goods. The king gets it cut and wears it around his neck. He passes it to his great-grandson,

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Louis XV, who obtains a court jeweler and has a decoration created for the Order of

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the Golden Fleece, a group to sustain Catholic chivalry. Louis XV's grandson, Louis XVI,

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the throne, marries Marie Antoinette, and they die in the revolution. So far, the owners

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are Louis the Great, Louis the Beloved, and Louis the Executed. The couple had tried to

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flee two years prior, got busted, and had their assets taken but poorly guarded.

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A cutter named Wilhelm Falls reshapes the gem after the revolution, but gets fatally

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shot by his son for the gem, who later kills himself. Now the jewel is acquired by the

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Hope family, a bunch of British bankers. Now let's skip to passing through to the heirs

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who are fighting over sell or don't because of one sibling's gambling problems. Next,

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a Greek merchant buys it and then sells it to Cartier before he drove himself off a cliff.

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In 1911, Evelyn Walsh McClain buys it from Cartier and her mother-in-law dies, her son

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is killed at age nine in a car crash, her husband leaves her for another woman, he eventually

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passes in a psych ward, her daughter succumbs to an overdose, and Evelyn has to sell her

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asset, the Washington Post, yet still can't get out of debt. The heirs sold it to Harry

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Winston in 1949, where he toured it for many years and then donated it to the Smithsonian.

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The mail carrier, who was responsible for the parcel, would have two car crashes, one

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which would break a leg, one which would yield a head injury, his wife died of a heart attack,

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his dog strangled itself on the leash, and his house had a major fire. Now it's time

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for my top five favorite designs from the house of Winston. First, the Winston Cascading

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Necklace. Made for Harry's beloved wife Edna, this 407 diamond baguette, round, pear, and

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marquee cut total 187.5 carats, and in platinum is a weightless looking bib collar, with

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larger diamonds floating off stems for a gravity defying effect. Next, the Winston Legacy sapphire,

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an exceptional shade of blue, this cashmere royal blue gem is the centerpiece in a frame

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of diamonds attached to a multi-row color of brilliance. The sapphire weighs in at 43

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carats. My third favorite, the Almalfi Necklace. If you love unexpected color combinations and

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vibrant hues in juxtaposed materials, then this piece features 47 rubolite tourmalines

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surrounded by that Tiffany's blue shade of turquoise and diamonds, interpreting the

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Italian palette of local flower petals against the seawaters of the Mediterranean. Next up

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is the Purple Dragon Necklace. A lavender colored 65 carat sapphire cushion cut in the signature

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cluster style of diamonds is a statement that does not compromise on femininity in hue

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nor design. And finally, the Rubian Diamond Cluster Necklace, with signature Winston claw

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prongs, a beautifully matched vivid red gems suite, showcasing the intersection of minimal

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metal, multiple angles, scintillation in a symmetrical piece with alternating trios of

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rounds and marquee diamonds to enhance the colored gems. The legacy of Harry Winston

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was someone whom De Beers contacted first when new raw material was discovered. He had the

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touch for buying, cutting, selling, buying back and reselling. He brought wealth and

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beauty and impossible standards into the homes and lives of the middle class. The mutually

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beneficial relationship with different types of media created a stage for this quiet man

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to go around the world for rare priceless treasures and then allow us into his world.

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When asked about his career, he was famously quoted as saying, I love the diamond business.

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It's a Cinderella world. It has everything. People. Drama. Romance. Precious stones. Speculation.

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Excitement. What more could you want?

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Thank you for listening and learning with me. I would love you to share this project

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with people finding rare beauty in today's world and throughout our times. Until the

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next episode, keep your own stories sparkling.