David Webb Files Chapter 11

by Deidre Woollard (RSS feed)
Jun 24th 2009 at 7:01PM

Another iconic jewelry company has filed Chapter 11. It has been announced that David Webb filed Chapter 11 yesterday reporting assets of $10.3 million and liabilities of $6.9 million. Diamonds,net had a look at the documents which show that while gross sales for the fiscal year ending June 30, 2008, were $13.2 million, total sales for the coming fiscal year ending June 30, 2009 were not expected to top $5 million. The company estimated operating expenses for the next 30 days at $377,927 with expected sales of approximately $400,000. The "Silberstein Family Partnership" is listed as sole owner of the company. The company has been in business over sixty years and has provided jewelry for some of the most legendary jewel connoisseurs in the world including Elizabeth Taylor, The Duchess of Windsor and Princess Grace. David Webb pieces which often feature animals and naturalistic themes remain some of the most collectible pieces in the jewelry world.

Tags: bankruptcy, chapter 11, Chapter11, david webb, DavidWebb, jewelry

Filed under: Jewelry

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Reader Comments (Page 2 of 2)

Tom Gillman Jul 31st 2009 5:29AM

Wishful thinking is all it will be as the shameless Silberstein's have no interest whatsoever in restoring David Webb (the company) to what it was--otherwise they wouldn't have trampled upon the quality footsteps David Webb (the person) carefully constructed during his business history. They are solely interested in re-tooling the company to their own (inferior) image, and that precludes requesting assistance from Mr. Gruberth or any other key member of the then-David Webb company. As it is, they don't believe they've torpedoed the David Webb (Company) reputation about which we outside observers are in near universal disagreement , and even if they were to finally acknowledge 'a step backwards' (several flights downwards is closer to the truth), they'd never stoop to associate with the likes of Mr. Gruberth and other ex-employees. They'd rather do without, which is their loss and ours, but from the looks of it, not of Mr. Gruberth.

I will give the Silberstein's this: their task was and is monumental.
There are very few instances where past genius has been able to immediately be segued into a continuing success and future success after the passing of the founding genius. One such exception that comes to mind is Chanel, where the singular Coco (who died in 1971) was succeeded by a man equal to the task if not to Madame Chanel--Karl Lagerfeld--but it took the House of Chanel 12 years to find him.

Finally, if anyone cares to view a gorgeous example of authentic David Webb's David Webb, c. early 1970's, please do a search on Ebay for a 3 piece set (Necklace, Earring and Bangle) of Black Enamel, Cabochon Rubies, Sapphires and Emeralds, and Round-Cut Diamonds. It is breath-taking (and so is the price!). The Silberstein's should definitely have a look--and compare it to the matched set in their current web site. Proof really is in the pudding here.

Sonya Everett Sep 21st 2009 1:32AM

I am a school teacher that inherited a David Webb broach from my grandmother when she passed away. I had only seen the piece once when we when to the vault. It was given to her in 1952 by her then husband when he asked for a divorce. It has never been worn and I would like to get it appraised. Any suggestions? I have been to three places in the DC area and they all tell me to go to David Webb Studios in NY. I am assuming, after reading all the discussions, that I should not go there. Please suggest where I should take this beautiful piece of art.