You might say that Andrew Fabrikant has jewelry in his DNA. Fabrikants have been in the profession since the 1890s. Without intending to take the mantel, Andrew has been a jeweler 31 years. We’re where your mother would send you, he likes to say.

Fabrikant and Sons is so named because he wanted people to know it’s still a family business. Much to his surprise, one son might want to follow in his footsteps. “Are you thrilled by this or wary?” I ask. “Yes,” he answers with irony. There are no daughters. “If I had daughters, I’d have no inventory left.” He smiles.

William and Andrew Fabrikant

When Andrew wrote his father William’s obituary, he quoted Sophocles: “A man’s greatest legacy is his son’s honorable conduct.” Wide ranging conversation about history, jewelry and encounters resembling O. Henry stories, reveals that my subject lives by the credo. Maintaining integrity is, to Andrew, the most satisfying thing about his profession. “As an estate jewelry buyer, I’ve never bought anything being a lower bidder. Knowing I’ve served my client well is very important.”

The jeweler is honest and direct with the public, telling them what he sees and what he’s selling. “One, because I should and, two, because I couldn’t remember a lie that long. If someone comes back five years later and I look at a piece of jewelry, I have to tell them the same thing about the characteristics of the piece.” He shrugs. Also evident is his big heart, far from a given within the realms of buying and selling. This is not to say you can take advantage of him, but that if he’s sympathetic…There are more reasons for buying or selling than there are precious stones and cuts.

Andrew’s grandfather immigrated from Russia and Poland or, as his mother put it, “wherever the Czar said they could live…” It was like the line from Fiddler on the Roof, ‘God bless and keep the Czar – far away from us!’ By the 1930s, his father-to-be William, worked for his older brothers during the day and during WWII, at a munitions plant at night. A misunderstanding alienated the three for years and caused him to go out on his own. William dealt more in antique and estate jewelry than his siblings. Even the most expensive pieces were commonly appraised by Macy’s and Gimbels. Times were different.  

A college major in communications and political science, it was Andrew’s dream to run political campaigns. The candidate would have to be honest, however, vastly limiting options. He was offered jobs, but at salaries “that prohibited actually eating, let alone feeding a date.” Dabbling in commercial real estate came next.

When his dad got sick, Andrew took over operations at the International Jewelers Exchange on the corner of 47^thStreet and 5^th Avenue. “My father was very bright. He figured out how to spread foot traffic, even where to put the bathrooms so jewelry retailers had to walk past the craftsmen, making sure they had opportunities to do business with each other.” The young man made copious notes and designed two more exchanges. He became partners in a jewelry business with his cousin Peter and attended The Gemological Institute of America.

Andrew and Peter Fabrikant

GIA is the world’s foremost authority on diamonds, colored stones, and pearls. It’s the leading source of scientific knowledge, standards, and education in gems and jewelry. “You learn things you have to know to be in the business, but in so far as educating yourself, you have to be in the market every day. Eventually they hand you a check book…I’ve made mistakes. If you don’t, you’re not buying enough. I’ve bought things I found out weren’t worth what I paid and didn’t call the person and say I was wrong…Someone purchasing your jewelry should be able to tell you what it’s worth or have the ability to do that research.”

“There are two types of appraisals: Retail Replacement Value and Fair Market Value. We specialize in the latter…A retail appraisal is usually written so clients can easily replace something lost – at 30 percent above what you paid in a retail store. Exceptions are the larger brand retailers, like Tiffany, Cartier, Van Cleef & Arpels. They’re the most expensive brands and offer appraisals on their jewelry for the retail price they are charging. A fair market or estate appraisal should represent what you can sell the jewelry for at the time of the appraisal.” 

‘Perlee Rose Gold & Diamond Bracelet by Van Cleef & Arpels

“In the old days, it was a diamond cutter’s job to get as much carat weight as possible. Today, specifics for length, width, depth, and angles play a much larger role in the value of a gem. Everything has its preferred shape and proportion in the market.”  Some gems are proportioned well enough that the light looks whiter from the top. Some are fluorescent which makes them look better, while most are inert. Marquise diamonds don’t sell well now, while Ovals and Movals do. The latter is the look of a Marquise with its points rounded into an oval. Fancy shapes are a matter of personal taste.

Diamond color gradings start at D, as white and clear as you can get and run to Z.  The minutia of what goes into a diamond and its value is much more than the four Cs the GIA made famous: carat weight, color, cut, and clarity. Other characteristics must be examined to be understood. Andrew warns against buying diamonds online unless you’re an expert.

Photo by Julia Kuznetsova at iStock by Getty Images

The jeweler tells me most things that grow in value are exceptionally rare. “Last year, I appraised an 11ct ruby valued at $90,000 twenty years ago. It had never been tested for its origin or quality. Today, tested, it’s worth a million five. I put it under the microscope and knew it hadn’t been treated…” Treated means enhanced by man. Sapphires, for instance don’t necessarily come out of the ground pretty. They’re often heated to make color spread throughout the stone evenly. A stone is worth 20 to 30 times more unheated.  

Additionally, very few emeralds are truly clean. You can soak one in green resin which gets into fissures (inclusions), then wait for it to harden and polish it. “Every stone has a way to improve it by man. In the 1940s-1960s, one could laser into a diamond, force acid in and visible imperfections would turn white.” “Did you buy the ruby?”  I ask. “No, I offered too much. She got scared and decided to hold onto the piece.”

AGL Certified Natural Emerald Ring

A Cartier bracelet of 10 diamonds, 1ct each, found its way to the jeweler. Andrew thought it looked fine, but had it delivered to it to a peer who worked for Cartier. The piece was found to be 95 percent correct; made with the right gold, diamonds perfect, set the right way, the right weight, Cartier quality. “He couldn’t give me a 100 percent guarantee. A friend suggested I loop the paperwork and box. The box was ok, but the paperwork was dot matrix (faked). I mailed it back saying nothing. Everything gorgeous and saleable in jewelry history has been remade.”

Old European cut diamonds are hot now, pre 1950 back to the 1800s. Art Nouveau is delicate and rare. Deco and Egyptian Revival jewelry is always marketable. No one is buying brooches except high profile men in entertainment or fashion who wear multiples. Pearls are purchased only for very young women often to celebrate a rite of passage. (The market has been decimated by those less expensively made.) “Say a client showed me a 5mm string of pearls. I will usually ask if there isn’t someone in the family who’d appreciate them. Otherwise, they’ve become somber occasion jewelry.”

Examples of Art Deco: Left-Art Deco Aquamarine and Diamond Pendant
Right: Art Deco Hanging Diamond Earrings

“I always tell people my reservations. Like micro-pave jewelry – tiny, tiny diamonds that fall out of settings. The big names charge money to repair. It costs me more in labor than the diamonds… I buy watches, but I hate moving parts which is why I rarely sell them to the public. Things can break that are not my fault. A woman bought a Rolex for her husband and had me inscribe it. I begged her not to until he’d worn it six months to a year. They don’t always keep perfect time. This one didn’t. We sent it back three times, but it never satisfied him. They kept it, but I lost a client.” He sighs.

Everyone who buys jewelry from Fabrikant & Sons is told that if the person who receives the gift doesn’t like it, they’re free to return the piece. “It’s like a really, really nice gift certificate.” Should the person want to buy something else, Andrew works from a budget set by the giver. “I’d rather it be worn than sit in a box.”

Tiffany and Co. Metro Collection Ring with Blue Sapphires & Diamonds

Does a signature affect the price? “Yes and no. Tiffany and Cartier offer diamonds that are no different than what I can provide and are much more expensive. I don’t think you gain anything unless it’s designed beautifully. Of course, you’ll get more money in selling…I have big athletes that come in more interested in the name than the value.”

Man made diamonds are now available in every size. “Do I think there’s a place in the market for them? I may be unique in this but I do – at the lower end. I don’t buy them. They’re worthless. But I understand budgets. It gives a nice picture and will cost 80 percent less. Retailers that take those stones mark them up.

“A few years ago, a guy came in looking for a 5ct diamond for which he planned to spend say $160,000. He found out that synthetic diamonds were around and asked the price of one similar in color and size to the natural one he’d picked. It was $30,000. I told him if I got him one, I never wanted to see it again.  And he said to me, ‘I don’t care if my future ex-wife doesn’t have a real diamond.’  I never met the woman, or I might’ve told her to run.” Eyebrows rise.

This is diamond cutting process. It’s changing a diamond from a rough stone into a faceted gem. (Bigstock photo)

Andrew sees what people do to each other over jewelry, money, and estates. “My family is no different. It’s a lesson my sister and I learned. When my mother died, she left exquisite jewelry to my sister. I was supposed to get two pieces of art. By the time she’d passed away, she’d sold the art. Because of what I’ve lived through with clients, I never considered it. My sister decided we should sell everything and split the profit.”

Some families don’t handle things in a civilized fashion. Two sisters were jointly left a magnificent pair of Van Cleef & Arpel diamond earrings Andrew calls “Drop dead gorgeous,” worth hundreds of thousands of dollars. The sister that lived in New York was well placed in society and wore the earrings quite often. “I wanted to buy them desperately. She was a regular client and promised to eventually sell them to me. A very nice woman.”  The sister in the Midwest asked to borrow them for a fancy wedding. Andrew insured and shipped the earrings under his policy.

“You do that kind of thing for people?” I ask. He laughs. “Yes, sometimes it’s the people, sometimes it’s the jewelry…” She went to the wedding and sent back only one earring. “Because mom said we should share them.” Andrew called and her New York sister called. They’d be worth a quarter million dollars today. “As far as I know the earrings were never put back together. A single earring is worth comparably nothing.”

Then there are divorces.  A woman told Andrew her ex-husband was trying to kill her. She was selling the jewelry so she could stay in a hotel while they sold the house. Though he didn’t believe her, Andrew bought the jewelry. Then he read in the paper that her house blew up.

In a former location, Andrew and Peter had side by side offices. One afternoon, as Peter was buying jewelry from the ex-wife, Andrew was selling a piece to the ex-husband for his girlfriend. “Luckily there was enough insulation between the walls so they didn’t hear each other’s voices. I told Peter, your client doesn’t not leave your office until my client leaves – or vice versa.”

Left: GIA Certified 9.02 carat Radiant Cut Diamond Engagement Ring in Platinum
Right: Engagement Ring with Matching Diamond Band Ring

“The saddest story was this beautiful girl in her thirties; vivacious. I’m buying a diamond from her at $9000 and she tells me her story.” Apparently married the second time just seven weeks before, the bride returned from her honeymoon only to discover she had terminal cancer and 18 months to live. Her new husband filed for divorce. Sale of the engagement ring was meant to cover the cost of lawyers.

“I never wanted to know the man because I probably would have sought him out. We’re both crying. I offered to make a deal. I’d give her $10,000 if she promised to pay her attorneys and never set foot in court again. ‘Go see your first husband and make sure he’ll take care of the kids. Then enjoy whatever time you have left. Don’t spend it in court fighting a guy who didn’t love you for the right reasons.’ She didn’t report back to me, but she said she would do just that.”

“I’ve had people come in to sell to make payroll on start-up businesses. A former associate told me he couldn’t show up at his wife’s maternity bed without a ‘push present.’  One man was in search of erotic pocket watches. As it happened, I had just bought a collection.”

Vintage Diamond & White Gold Flower Necklace:18k White Gold  Diamond

I ask whether people still make romantic gestures. Andrew relates an occasion on which a man who was getting engaged bought a 5ct diamond ring, a diamond necklace, a bracelet “and a couple of other things” all on the same day. He booked a hotel room, got a big trunk, filled it with rose petals and the jewelry. “They had dinner. She digs in the trunk and finds the bracelet. Hugs, kisses, whatever else happens. ‘But there’s more,’ he says. He had the box with the ring in it all the way at the bottom.  It was a total of about a quarter million dollars.” People tell Andrew things.

That was about 20 years ago. “Does anyone make romantic gestures now?” I ask. “I do.” he responds smiling. “I hold the door, walk before a woman downstairs and on the street side outdoors. I don’t think chivalry is dead.” Andrew suggests that everyone getting engaged should video the moment. “I made my cousins do it. People have sent me great videos. I feel like I have a good track record. Those who get engaged through me stay married.”

GIA Certified Natural Pearl and Diamond Platinum Brooch

The last story is about Barbra Streisand who knew William Fabrikant in Brooklyn back in the day and became a client. (Usually names go discreetly unmentioned.) Andrew’s mother was 26 years younger than her husband “and dressed to the nines at all times.” She walked into the office wearing five antique diamond brooches. You’d wear one in back, one up here (he shows me) on the shoulder. “Your shoulder is below my eye height and catches the light in the room. If you’re 5’3” and I’m 6’ and I look at your brooch, I might get slapped.” He grins.

“Streisand said, ‘Those are the most gorgeous things I’ve ever seen.’ My father – where’d he get the courage – called my mother over, took the brooches off and sold them to the star. Mom used to tell this story with a scowl on her face. My sister has written to her saying if she ever sells them, to please allow us to buy them back.” There was no response.

Andrew Fabrikant

“Do you still enjoy the business?” I ask. “Mostly. So much happens online these days and Google representatives keep asking for more money. If I spend too much, I can’t maintain my integrity by being fair with everybody. I’m not looking to become the biggest jeweler in the world, I’m looking to be the jeweler with the best reputation.”

Jewelry pictured is meant to evoke items in the stories. All pieces are owned by Fabrikant & Sons.
All images were photographed by Fabrikant & Sons.

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