Shahid KhambattaIn the world of gems and jewelry, there are legends whose stories stand as shining examples of passion, expertise, and determination. Marvin Samuels, the visionary founder of Premier Gem in New York City, undoubtedly belongs to this prestigious group. At 91 years old, he continues to inspire with his sharp intellect and unparalleled insights into the diamond industry. In this exclusive interview, Marvin Samuels shares his remarkable journey, from humble beginnings to becoming a renowned name in the trade. His experiences offer a unique perspective on the evolution of the jewelry business and provide valuable lessons for aspiring gem enthusiasts and industry professionals.
Early Beginnings and Founding Premier Gem
Born in Scranton, Pennsylvania, Marvin Samuels embarked on his diamond journey at the young age of 23. In 1956, he founded Premier Gem, a company that would soon become synonymous with excellence and innovation in the industry. Today, Premier Gem proudly holds the prestigious status of a De Beers sightholder, a testament to its longstanding commitment to quality and integrity.
Mastering the Art of Diamond Cutting
Marvin’s foray into the diamond trade was greatly influenced by his brother’s involvement in the business. Eager to contribute to the family legacy, he honed his skills in diamond cutting, specializing in the exquisite emerald cut. Notably, Marvin embraced the oval cut, initially introduced by the esteemed cutter Lazare Kaplan. Although it faced skepticism in the industry, Marvin’s determination and belief in its potential led him to adopt and refine this distinctive cut. His innovative spirit and commitment to pushing boundaries exemplify his unwavering passion for creating breathtaking pieces.
The Journey from Cutter to Buyer
While Marvin excelled in diamond cutting, he discovered that his true passion lay in the art of transforming rough diamonds into exquisite gems. In the 1950s, he began purchasing diamonds independently, sourcing them from dealers who imported rough diamonds from Belgium. Fueled by a desire to eliminate intermediaries and secure better prices, Marvin made regular trips to Antwerp, the diamond capital of the world. His expertise in identifying the origin of diamonds and discerning their unique qualities set him apart, enabling him to curate exceptional collections for Premier Gem.
Embracing the World of Big Diamonds
Marvin Samuels became a trailblazer in New York City by specializing in trading big diamonds, joining the ranks of renowned jewelers like Harry Winston. A significant milestone in his career came with the acquisition of a 98-carat rough diamond, a bold move that demonstrated his unwavering confidence. Despite initial apprehension, Marvin’s determination and resourcefulness led him to seek guidance from the legendary Harry Winston himself. This encounter proved pivotal, as it not only dispelled his doubts but also ignited his ambition to create something truly extraordinary.
A Chance Encounter with Harry Winston
Marvin’s fortuitous encounter with Harry Winston on a TWA flight to London opened doors and paved the way for his success. Seizing the opportunity to seek advice from the industry icon, Marvin shared his plans to cut a 50-carat emerald diamond from the 98-carat rough stone he had purchased. However, Harry Winston advised against it, cautioning that selling a single large diamond could be challenging. Undeterred, Marvin decided to follow Winston’s suggestion and attempted to create two diamonds instead. The outcome exceeded his expectations, as he successfully crafted a stunning 47-carat emerald-cut diamond.
A Successful Auction and the Birth of a Legacy
Marvin faced the challenge of finding a buyer for his magnificent creation, as the market was initially hesitant to embrace such an unconventional gem. With Christie’s holding its first jewelry auctions at the time, Marvin approached Hans Nadelhoffer, the head of Christie’s Geneva, who recognized the unique appeal of the 47-carat diamond. The stone was eventually sold at auction for an impressive $440,000, a testament to its undeniable beauty and Marvin’s exceptional craftsmanship. This triumph marked the beginning of Marvin Samuels’ ascent as a trusted and respected figure in the diamond industry.
Becoming a De Beers Sightholder
In 1967, Marvin Samuels achieved yet another significant milestone in his career by becoming a De Beers sightholder. This prestigious designation symbolized not only Marvin’s unwavering commitment to the highest standards of excellence but also his invaluable contributions to the industry. However, obtaining this status was not without its challenges. De Beers faced hurdles in understanding and evaluating American companies, making the process rigorous and demanding. Marvin’s perseverance and unwavering dedication to his craft allowed him to succeed and solidify his place among the industry’s elite.
Memories of Industry Giants
Throughout his illustrious career, Marvin Samuels had the privilege of interacting with numerous industry legends, each leaving an indelible mark on his journey. Notably, his encounter with Claude Arpels, the heir to Van Cleef & Arpels, offered a unique perspective on the art of colored diamonds. Claude emphasized the importance of viewing colored diamonds in incandescent light, as it accentuated their true brilliance and allure. This valuable insight has since become a guiding principle for connoisseurs and enthusiasts worldwide.
Another revered figure with whom Marvin forged a significant bond was Morris Zale, a legendary jeweler. Not only did Marvin have the privilege of knowing Morris Zale, but he also had the honor of partnering with him. Their collaboration resulted in one of Marvin’s proudest achievements—the acquisition of an 890-carat rough diamond, which they masterfully cut into the awe-inspiring 407.48-carat fancy color flawless diamond known as the Incomparable. This exceptional gem has become a testament to Marvin’s dedication to innovation and his ability to turn dreams into reality.
Reflections on the Future of the Jewelry Business
As Marvin Samuels contemplates the future of the jewelry business, he acknowledges the significant changes that have transformed the industry. The advent of color machines and computers has brought both opportunities and challenges, fundamentally altering the landscape he once navigated. Marvin’s success was built on his innate ability to evaluate diamonds with his expertise and intuition, a skill that the reliance on technology threatens to diminish. Moreover, the erosion of trust within the industry has changed the dynamics, making it increasingly difficult to foster the deep relationships that were once the bedrock of success.
Marvin Samuels fondly reminisces about the joy he experienced throughout his remarkable career. Despite the challenges and complexities, he found immense satisfaction in navigating this vibrant industry. His journey was not merely a pursuit of financial gain but a genuine passion for uncovering the beauty hidden within rough diamonds. Marvin’s unwavering dedication, innovative spirit, and indomitable drive continue to inspire generations to embrace the artistry and allure of gemstones.
In conclusion, Marvin Samuels’ diamond journey is a testament to the power of perseverance, expertise, and unwavering passion. His extraordinary career leaves an indelible mark on the jewelry industry, inspiring future generations to embark on their own paths of brilliance. As we reflect on his legacy, we honor Marvin Samuels as a true legend and an exemplar of the remarkable possibilities that lie within the world of diamonds.
Shahid Khambatta
