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Surya Capital Buys Robbins Diamonds Inventory at Auction

Mar 2, 2011 11:05 AM   By Denise Romano
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RAPAPORT... New York-based Surya Capital, along with Buxbaum Jewelry Advisors, purchased the inventory of Philadelphia jeweler Robbins Diamonds’ flagship store at a sealed bid auction. The inventory of loose diamonds and diamond jewelry is valued at about $1.6 million at cost.

In December 2009, Leo Robbins & Sons Inc., which operates under the Robbins Diamonds name, filed for Chapter 11. At the time of the filing, the company operated four stores, including the flagship location at Eighth and Walnut Streets in Philadelphia’s Jewelers Row district and had outlets in Allentown, Pennsylvania, Hamilton, New Jersey, and Newark, Delaware. As previously reported, all of the locations were shuttered except for the Newark superstore. The Robbins Diamonds name dates back to the 1920s, with the flagship and Eighth and Walnut being unveiled in 1952.

Stevan Buxbaum, president of Buxbaum Jewelry Advisors, stated, "We were pleased to bring Surya Capital to the table to help out the estate of Robbins by paying top-dollar for this quality inventory.”
Tags: Buxbaum Jewelry Advisors, Denise Romano, Philadelphia, Robbins Diamonds, robbins, auction, loose diamonds, jewelry, buxbaum, Surya Capital
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