Young Money Millionaires Go to Market

Posted by Laura Wasson at 4:17 pm August 22nd, 2008 | 1 comment

When one thinks of an auction house, typically great works of art, royal jewels, priceless tchotchkes belonging to rich old ladies, and other such objects of refinement come to mind. But Simon de Pury, chairman of the auction house Phillips de Pury, is hoping to change that with a collection entitled ‘Hip Hop’s Crown Jewels’. Although fine jewelry is no stranger to the auction house, this will be the first time a collection of urban bling will be available to the public.

The sale will be held on October first, and will include a very impressive collection of jewelry belonging to such notables as Missy Elliot, Tupac Shakur, 50 Cent, Diddy, Pharrell Williams, Notorious B.I.G., and many other luminaries of the hip-hop world.

But perhaps the most impressive piece is a giant necklace (that holds the Guinness World Record for largest diamond pendant necklace that weighs a hefty twelve pounds) that reads ‘Crunk Ain’t Dead’ and belonged to pimp cup wielding impresario, Lil’ Jon. It’s reported value a tidy $500K, measuring 7.5″ x 6″ x 1″ with 3756 round-cut diamonds on a 18K yellow-and-white gold base.

The bling market has yet to be tested, but if this auction is successful, the hip-hop community will officially have a pretty lucrative way to retire old baubles. It certainly will be interesting to see who buys what, and if any mega-stars purchase pieces that once belonged to their contemporaries. Crunk ain’t dead, and neither, it seems, is bling.