Kentucky Jeweler Wins Suit Over Emerald Valuation

In a decision mostly applauded by the trade, a Louisville, Ky., jury said a Kentucky jeweler did not defraud a customer, now deceased, when he sold him a 42.00 ct. emerald necklace with a $300,000 markup. The case seemed unprecedented: Jim Jackson, owner of Aesthetics in Jewelry, in Louisville, in March 2005 sold client Robinson S. Brown Jr. an emerald and diamond necklace for $800,000. It was patterned after a necklace Richard Burton gave to Elizabeth Taylor. Jackson said he paid $500,000 for it, and that the suggested list price was $1 million. After Brown died, his sons inherited the piece. They say they tried to sell it but could not get what their father paid. But Sandra McLaughlin, Jackson's attorney, said the sons “never got a legitimate appraisal. Two of the appraisals were auction estimates from Christie's and Sotheby's. They were all liquidation values, essentially.”

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