Jewellery expert Julia Castelli at the Franklin Hotel in Knightsbridge, London. Rob Greig / The National
Jewellery expert Julia Castelli at the Franklin Hotel in Knightsbridge, London. Rob Greig / The National
Jewellery expert Julia Castelli at the Franklin Hotel in Knightsbridge, London. Rob Greig / The National
Jewellery expert Julia Castelli at the Franklin Hotel in Knightsbridge, London. Rob Greig / The National

How Julia Castelli became 'the Sherlock Holmes of diamonds'


  • English
  • Arabic

Standing in the discreet first-floor showroom of Chaumet’s flagship store in an exclusive corner of London’s West End, Julia Castelli, 46, is in her element.

Surrounded by a glittering selection of tiaras, necklaces, rings and diamonds worth millions of dollars, she tries on different pieces, looks in the mirror and holds them up to the natural light that pours in through the huge floor-to-ceiling windows of the exquisitely refurbished Georgian premises.

Under the watchful eye of the manager, a succession of staff breeze back and forth with sparkling items spread out on black velvet cushions. It starts to become clear just why Castelli has earned the sobriquet, the queen of diamonds.

Julia Castelli at the Chaumet flagship on New Bond Street in London
Julia Castelli at the Chaumet flagship on New Bond Street in London

Castelli operates in the rarefied world of high-net-worth individuals who have the means, but perhaps not the time nor the inclination to find that perfect gift. She is the go-to person for the world’s super wealthy, a one-woman business who is on call 24 hours a day. Whether it is jewels, fine art, fashion or even a thoroughbred racehorse, she can track it down.

Her phone is never off and she is on speed dial for elite clients around the globe. Their identity remains a secret. Utter discretion and loyalty are the name of the game in her business. Without that, her reputation would soon collapse.

“I see myself as the Sherlock Holmes of diamonds,” Castelli says with a smile. “I am solving puzzles and finding solutions for my clients. A client will come to me and say they want something particular. And I go and source it. I don’t hold any stock, so I work on bespoke orders and sourcing. That is my speciality. I know where to find rare, unique things.”

Those clients come from America, Europe, the Far East and, increasingly, the Middle East. “I love working with Middle Eastern customers. They know beauty, they know quality and they have the means.

“They can be demanding and ask for special prices, but I enjoy the challenge. I work throughout the region but with the biggest focus on Dubai.”

Her clients come from America, Europe, the Far East and, increasingly, the Middle East
Her clients come from America, Europe, the Far East and, increasingly, the Middle East

So important is this market for Castelli that she is in the process of setting up a company here. “I know the place and have good connections. The plan is by the end of this year to have a bigger presence there. I will be there much more. I want to learn more about the other Emirates. They love and appreciate what I source,” she says.

“I love my trips to that part of the world. The people are so warm and hospitable, service is impeccable and luxury is just next level. I get some of my most unusual and most valuable requests for sourcing jewellery and anything luxury from my UAE clients. They just love anything; the best, the biggest or to have something no one else has in the world. That is my speciality.”

Clients from the Emirates have provided her with some of her biggest and most lucrative challenges. “A recent request from the Middle East was to find two matching diamonds for earrings,” she reveals.

“They had to be 20 carat each, D [the highest colour grade] and flawless. It took me two weeks to find the stones. It can be quite stressful and you have to be very careful who you ask and when. The client was very happy.”

There has been a shift in the profile of Middle Eastern buyers, she notes. “Apparently in the 1990s, money was no object. Now there is a new wave of wealth, and knowledgeable, highly educated clients who know what they like and know what they want. It is a very happening place.”

This world of glitz and glamour is a far cry from Castelli’s upbringing. She was born in a small village in Bulgaria and is half Bulgarian and half Russian. As a child, her yearning for the good life was fired by reading Danielle Steele novels.

These invariably featured successful, independent American women making their own money, and flying between the East and West coasts. “I must have imagined it very vividly because, looking back, I’ve managed to do just that,” says Castelli, who speaks five languages.

With a degree in economics, she was all set for a career in banking in the US. However, when she arrived in New York in 2001 at the age of 25, fate intervened. “While I was finding my feet, I worked in a Russian Jewish jewellery boutique on Madison Avenue. I didn’t have any experience but the family really liked me,” she recalls.

She was smitten by the sparkling world she began to inhabit. A job with Saks on Fifth Avenue selling costume jewellery followed, then another with Chopard. “I have an entrepreneurial spirit. I started organising events for the Russian-speaking community in New York and went on Russian television.”

She became something of a celebrity herself. Then she fell in love with an Englishman and, in 2005, moved to London. Castelli wanted to start a family and knew that working for a company full time would be incompatible.

Her husband, from whom she is now divorced, suggested that she set up on her own, providing a bespoke lifestyle service not just in jewels, but accessories and travel.

In trepidation she picked up the phone, secured her first commission and hasn’t looked back. Life is now a whirl of planes, airports, events and luxury brands.

Her website for Julia Castelli Lifestyle Management features the strapline “A Life Beyond Luxury For You”, but her business really runs on word of mouth recommendations. “I have a passion for sales, jewellery and beautiful things. I am never pushy. It is me transmitting my love and passion for what it is to the client. And listening to their needs and wants.

Castelli examines a jewellery creation at the Chaumet boutique
Castelli examines a jewellery creation at the Chaumet boutique

“I am very fortunate to work with the best of the best, red diamonds, blue diamonds, green diamonds and chameleon diamonds [which change colour from yellow to green depending on temperature]. I get most excited when it is a rare colour – reds are the most rare, from Australia and South Africa.”

One challenge she was set was sourcing a 10-carat pink diamond for an international client to present to his wife on the birth of their baby daughter – a stone that is probably now worth $5 million and complemented a similar blue diamond he sourced at the birth of his son.

Castelli, who has two children, explains: “To give you an idea of how special these gestures were, pink and blue diamonds are some of the rarest on the planet and finding the pink example was an eight-month assignment, up against two other people engaged by the client.

“I’m also very proud to have sourced a green chameleon diamond for a gentleman to present to his wife recently. The value was relatively small, at less than $1 million, but it shows why I like to think of myself as the queen of diamonds, because I aim to understand and find the right stone or gift for the person or the event.

“I think that feminine intuition, plus my diplomacy, patience and tenaciousness give me an edge in what is still a male-dominated business.”

And with that, she turns and leaves for her next appointment, with a sparkle in her eye.

ADCC AFC Women’s Champions League Group A fixtures

October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA

If you go...

Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).

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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

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Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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UAE currency: the story behind the money in your pockets
PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

ASHES SCHEDULE

First Test
November 23-27 (The Gabba, Brisbane)
Second Test
December 2-6 (Adelaide Oval, Adelaide)
Third Test
December 14-18 (Waca Ground, Perth)
Fourth Test
December 26-30 (Melbourne Cricket Ground, Melbourne)
Fifth Test
January 4-8, 2018 (Sydney Cricket Ground, Sydney)

The%20National%20selections
%3Cp%3E6pm%3A%20Barakka%3Cbr%3E6.35pm%3A%20Dhahabi%3Cbr%3E7.10pm%3A%20Mouheeb%3Cbr%3E7.45pm%3A%20With%20The%20Moonlight%3Cbr%3E8.20pm%3A%20Remorse%3Cbr%3E8.55pm%3A%20Ottoman%20Fleet%3Cbr%3E9.30pm%3A%20Tranquil%20Night%3C%2Fp%3E%0A

Paris Can Wait
Dir: Eleanor Coppola
Starring: Alec Baldwin, Diane Lane, Arnaud Viard
Two stars

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Letswork%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EOmar%20Almheiri%2C%20Hamza%20Khan%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20co-working%20spaces%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%242.1%20million%20in%20a%20seed%20round%20with%20investors%20including%20500%20Global%2C%20The%20Space%2C%20DTEC%20Ventures%20and%20other%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20about%2020%3C%2Fp%3E%0A
Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses

Match info

Uefa Nations League Group B:

England v Spain, Saturday, 11.45pm (UAE)

Superpower%20
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ESean%20Penn%2C%20Aaron%20Kaufman%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

JOKE'S%20ON%20YOU
%3Cp%3EGoogle%20wasn't%20new%20to%20busting%20out%20April%20Fool's%20jokes%3A%20before%20the%20Gmail%20%22prank%22%2C%20it%20tricked%20users%20with%20%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fmentalplex%2F%22%20target%3D%22_blank%22%3Emind-reading%20MentalPlex%20responses%3C%2Fa%3E%20and%20said%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fpigeonrank%2F%22%20target%3D%22_blank%22%3E%20well-fed%20pigeons%20were%20running%20its%20search%20engine%20operations%3C%2Fa%3E%20.%3C%2Fp%3E%0A%3Cp%3EIn%20subsequent%20years%2C%20they%20announced%20home%20internet%20services%20through%20your%20toilet%20with%20its%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Ftisp%2Finstall.html%22%20target%3D%22_blank%22%3Epatented%20GFlush%20system%3C%2Fa%3E%22%2C%20made%20us%20believe%20the%20Moon's%20surface%20was%20made%20of%20cheese%20and%20unveiled%20a%20dating%20service%20in%20which%20they%20called%20founders%20Sergey%20Brin%20and%20Larry%20Page%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fromance%2Fpress.html%22%20target%3D%22_blank%22%3EStanford%20PhD%20wannabes%3C%2Fa%3E%20%22.%3C%2Fp%3E%0A%3Cp%3EBut%20Gmail%20was%20all%20too%20real%2C%20purportedly%20inspired%20by%20one%20%E2%80%93%20a%20single%20%E2%80%93%20Google%20user%20complaining%20about%20the%20%22poor%20quality%20of%20existing%20email%20services%22%20and%20born%20%22%3Ca%20href%3D%22https%3A%2F%2Fgooglepress.blogspot.com%2F2004%2F04%2Fgoogle-gets-message-launches-gmail.html%22%20target%3D%22_blank%22%3Emillions%20of%20M%26amp%3BMs%20later%3C%2Fa%3E%22.%3C%2Fp%3E%0A
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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The chef's advice

Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.

“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”

Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.

The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.

Company%20profile
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Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics

 

Without Remorse

Directed by: Stefano Sollima

Starring: Michael B Jordan

4/5

MATCH INFO

Uefa Champions League semi-finals, second leg:

Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE

Game is on BeIN Sports

UAE currency: the story behind the money in your pockets
Updated: March 22, 2023, 4:03 AM