SAN DIEGO--(BUSINESS WIRE)--Gepco, Ltd. (OTCQB: GEPC) announced today that its subsidiary, GemVest, Ltd., has purchased a new investment grade diamond.
GemVest purchased a 10.76 carat, round cut, nearly colorless, Hearts and Arrows diamond. This diamond was independently graded as “G” in color, SI1 in clarity with no florescence, triple excellent cut (excellent polish, cut and symmetry), and with perfect depth and table.
Hearts and Arrows diamonds are cut to ideal proportions with superior optical symmetry and a specific faceting pattern. When all these factors are in harmony the result is a repeatable, near perfect pattern of eight symmetrical arrows in the face up position and eight symmetrical hearts when viewed in the table down position. (Source: Heartsandarrows.com)
“This is a spectacular stone,” Peter Voutsas, CEO of GemVest, said, commenting on the acquisition. “By being able to purchase this stone for half of the current Rapaport wholesale price, I anticipate that we will be able to at least triple our investment upon its sale.”
Angelique de Maison, Executive Chairman, commented, "It is very reassuring that our first purchase is such a substantial stone. The Rapaport price is over $500,000 and we paid half of that price. We are very confident that Peter will obtain the best price for us that will still represent fair value for the new owner. We are very determined to continue what we are starting here and have great confidence in the business model."
GemVest sells and brokers high-end rare investment grade diamonds and gemstones. These gems are obtained from two principal sources: international wholesale diamond cutters with which our CEO, Peter Voutsas, has long, outstanding relationships, and individuals and estates possessing investment grade diamonds and heirloom quality jewelry who are seeking liquidity.
Peter Voutsas (“Peter”) has also established a worldwide reputation as a purveyor of exquisite, extraordinary fine quality precious stones and jewelry pieces that are retailed in an elegant but friendly environment on Rodeo Drive in Beverly Hills, California, and sold at competitively reasonable prices. Peter has an international clientele that includes individuals from every continent who are known to be buyers of investment grade stones and exquisite rare heirloom jewelry items. The placing of such exquisite jewelry and gemstones is one of Peter’s most noted talents and helps enable Peter to gain top dollar and quick turnover for virtually each such item.
FORWARD LOOKING STATEMENT: This press release may contain forward-looking statements, including statements about the business plan and prospective financial condition of Gepco, Ltd. (including its operating subsidiary GemVest, Ltd.) The forward-looking statements are subject to risks and uncertainties, including that the parties may not complete the transaction or that when completed, the transaction might be different than presently contemplated. Readers should not place undue reliance on the forward-looking statements. Gepco, Ltd. does not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. In addition, any forward looking statements regarding forward expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: whether Gepco, Ltd. can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether Gepco, Ltd. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.