January 2005 Archives
Pearl Jewelry
History:
Throughout history, the Pearl has been one of the most highly prized and sought after gems. Numerous references to the pearl can be found in religions and mythology of many cultures from the earliest times.
Ancient Egyptians prized pearls so much they were buried with them. Cleopatra dissolved a single pearl in a glass of wine and drank it, in order to win a bet with Marc Antony that she could consume the wealth of an entire country in just one meal.
In ancient Rome, pearls were considered the ultimate symbol of wealth and social standing. The Greeks held the pearl in high esteem for both its beauty and associated it with love and marriage.
Pearls evolved into symbolic figures, and were presented as evocative gifts dating as far back as 2206 B.C. during the time of Confucius. Myth has it that the Polynesian God Oro (God of peace and fertility), came to earth on a rainbow to offer a pearl as a symbol of love to the princess of Bora Bora. The Roman and Greek legends of Venus/Aphrodite(Goddess of love, beauty and pleasure), is said to have come out of the sea with water droplets turning into pearls, offering her “charms” as the love goddess.
During the Dark Ages,women of nobility wore pearl necklaces and knights wore pearls onto the battlefield believing that pearls had magic powers and would protect them from harm.
Pearls were extremely popular among the Royal Courts during the Rennaisance Period. Since pearls were so highly regarded, a number of European countries passed laws forbidding the wearing of pearls by others outside of the nobility. Queen Elizabeth I was the most avid pearl lover in history, and the “Fairy Queen Portrait,” (1550s – 1603) depicts the queen adorned in one of her 300 gowns that were laden, set, and sewn with natural pearls.
During the European expansion into the New World, the discovery of pearls in Central American waters added significantly to the wealth of Europe. Greed and lust resulted in the depletion of virtually all the American pearl oyster populations by the 17th Century.
Until the early 1900’s, natural pearls were accessible to only the rich and famous. In 1916, famed French jeweler Jacques Cartier bought his landmark store on New York’s Fifth Avenue by trading two pearl necklaces for the property.
During the early 1900s the worldwide demand for natural pearls exceeded supply, leading to development of cultured pearls by Kokichi Mikimoto.
Famous designer Coco Chanel paved the way for the wide acceptance of cultured pearls by popularizing them as everyday wear. Chanel thereby defined Pearl's as classic women’s fashion. In 1955 Tiffany responded to growing consumer demand by showcasing Pearls. Marilyn Monroe and Elizabeth Taylor also often dressed in sumptuous pearls.
Today, natural and cultered pearls share the same properties as both are grown in live oysters and are readily available and affordable.
Pearl Formation.
As mentioned, due to the growing popularity for high quality Pearls, supply of natural Pearls became insufficient to meet demand. Thus the cultured Pearl industry was born and developed.
Pearls are grown by live oysters far below the surface of the sea.
The process begins when a foreign object, such as a parasite or piece of sand, accidently lodges itself in the oyster’s soft inner body where it cannot be expelled.
In an effort to ease this irritant, the oyster’s body takes defensive action. The oyster begins to secrete a smooth, hard crystalline substance around the irritant in order to protect itself. This substance is called nacre. As long as the irritant remains within its body, the oyster will continue to secrete nacre around the irritant, layer upon layer. After a few years, the irritant will be totally encased by the silky crystalline coatings. The result is the gem called a Pearl.
Foreign object enters oyster and cannot be expelled.
Cells then secrete a a smooth and hard substance called nacre around the irritant.
The exact process by which pearls are formed from what an oyster regards as merely protection against irritation is one of nature’s mysterys. Nacre in addition to being a soothing substance is composed of microscopic crystals. Each crystal is aligned perfectly with each other so that light passing along the axis of one is reflected and refracted by the other to produce a rainbow of light and color. Cultured pearls are formed by oysters in almost an identical fashion. The only difference is that man surgically implants the irritant — a small piece of polished shell into the oyster rather than leaving it to chance, then allows the oyster to do it's work.
After several years of nacre "building" a beautiful Pearl is formed.
Cultered Pearl Farming.
Pearl cultivation intially depended entirely on wild oysters. Now Pearl cultivation is more selective. Japanese scientists were in the vanguard in isolating strains of oysters possessing superior pearl bearing qualities. These selectively bred oysters are capable of producing pearls of exceptional lustre and color clarity.
Technicians open the live pearl oysters carefully, then surgically implant a small polished shell bead and piece of mantle tissue in each. The shell bead serves as the nucleus around which the oyster secretes layer after layer of nacre.
Pearl Tecnician implanting shell into Oyster.
The nucleated oysters are then returned to the sea. There, in sheltered bays rich in natural nutrients, the oysters feed and grow, secreting layers of nacre around their nuclei. In winter, the oysters are moved south to warmer waters.
Pearl Culturing.
These nucleated oysters are then suspended from rafts in order to provide the best growing conditions. Pearl technicians check water temperatures and feeding conditions daily at various water depths and then move the oysters up or down to take advantage of the best growing conditions. Cleaning and health treatments are administered and anything that might interfere with feeding such as seaweed, barnacles, and parasites which are removed from the shells.
Cultured pearls cannot be a mass-produced factory-like product.
On the average, about fifty percent of the nucleated oysters do not survive the surgical procedure to bear pearls. Others may succumb to a variety of conditions such as disease, heavy rains which reduce necessary salinity, explosive and unchecked growth of plankton which decreases oxygen in the water, predators, and parasites. Twenty percent of the survivors will bear marketable pearls. The rest are too imperfect or flawed to be used commercially.
Above: Oysters positioned for growth.
Above: Beautiful Pearl result of the Culturing Process.
Types of Cultured Pearls.
There are five basic Cultured Pearls types:
1. Akoya
2. White South Sea
3. Tahitian
4. Freshwater
5. Mabe
Akoya 
Akoya pearls are the classic cultured pearls of Japan. They are the most lustrous of all pearls found anywhere in the world. In recent years, China has been successful in producing Akoya pearls within their own waters. However, at this time they are not on par quality wise compared to the Japanese Akoya pearls.
White South Sea
White South Sea cultured pearls are grown in large tropical or semi-tropical oysters in Australia, Myanmar, Indonesia and other Pacific countries. They generally range in size from 10mm to 20mm and command premium prices because of their relative rarity and large size.
Tahitian 
Tahitian cultured pearls are grown in a variety of large pearl oysters found primarily in French Polynesia. Their beautiful, unique colors (which can range from light grey to black, and green to purple) and large size can command very high prices.
Freshwater 
Freshwater pearls are found in bays and rivers throughout the world. They are easily cultivated from freshwater mollusks in China, Japan and the United States. They are less lustrous than salt water cultured pearls but their low price, unique shapes and colors have made them popular jewelry items in recent years.
Mabe 
are grown in Japan, Indonesia, French Polynesia, and Australia.
Mabe pearls are hemispherical and are grown against the inside shell of an oyster rather than within the oyster’s body. They are used in earrings or rings which conceal their flat backs.
Buying Pearls- What to Look For.
There are five very important characteristics and features of Pearls that you should focus on when you are in the market to make a purchase. They are:
1. Lustre
2. Surface
3. Shape
4. Color
5. Size
LUSTRE:
Lustre is the combination of surface brilliance and a deep seated glow. The lustre of a good quality pearl should be bright and you should be able to see your own reflection clearly on the surface of a pearl. Any pearl that appears too white, dull or chalky indicates low quality.
SURFACE:
refers to the absence of disfiguring spots, bumps or cracks on the surface of a pearl. The cleaner the surface of the pearl, the more valuable.
SHAPE:
The fact that cultured pearls are grown by oysters makes it very rare to find a perfectly round pearl. Therefore the rounder the pearl, the more valuable it is.
COLOR:
Pearls come in a variety of colors from rosé to black.
SIZE:
Cultured pearls are measured by their diameter in millimeters. Size can range from 1 millimeter to more than 20 millimeters. The larger the pearl the more expensive it will be. The average sized pearl sold today is between 7 and 7-1/2 millimeters.
Some beautiful examples of Pearl Jewelry.
Photo's and Graphics courtesy of www.exceldiamonds.com and The Pearl Information Center
Diamond Cut: How do you know if your Diamond is a Good Cut?
In an earlier post located here, Diamond Grading Report
the importance of purchasing your diamond that is accompanied by a grading report done by a reputable and highly competent lab such as the GIA (Gemological Institute of America) was stressed and highlighted. This report assures you that the Color and Clarity grades and measurements are accurate. But this level of information is not enough to tell you if the diamond you're interested in has been properly proportioned so that it is not too spread and shallow nor narrow and deep in relation to it's carat weight. A diamond in the first case is referred to as a "fish-eye" and in the second case a "nailhead."
Above: Two examples of poorly proportioned diamonds that have been "swindled" (diamond-cutter term) for maximum weight retention at the expense of correct proportion. Result: You are paying more for "less". Note the difference between the ideal proportioned diamond versus the shallow and deep stones.
In both instances the diamond will display significant amounts of light leakage, look glassy, and be visualy unattractive.
There are two machines on the market today that do a very good job of measuring a diamond's proportions and providing you with critical information on a Diamond's Cut. They are the OGI Scope manufactured by OGI Ltd. and the Sarin machine, manufactured by Sarin Technologies.
Let's take a look at the OGI machine.
OGI Diamond Proportion Scope.
The diamond is centered on the pedestal, lid closed, and software activated. The pedestal rotates for approximately 45 seconds allowing the internal camera to map the proportions of the diamond.
The MegaScope accurately and reliably measures the cut of your loose diamonds. Basic measurement accuracy is: 0.02 mm. Keep in mind that there may very well be a slight but statistically insignificant difference between the Megascope measurement of Table and Depth percentage compared to that of the GIA report. This is because:
1. There is a very slight variability inherent in the Megascope itself,
2. Pedestal Placement varies ever so slightly from one run to the next, and
3. GIA graders take the average of four measurements and round off to the next highest number.
Overall, both the GIA and the Megascope and Sarin proportion analyzers are in agreement.
Megascope Diamond Proportion Analyzer.
The properties analyzed in loose diamonds are Weight, Diameter, Crown Angle and Height, Pavilion Angle and Depth, Culet Size, Culet Off Center, Table Size, Table Off Center, Total Depth, and Girdle Thickness.
Above:Parts of the Diamond that are measured by the Megascope.
An additional feature is the Top/Down Report, which shows you the cutting angle and percentage for each of the 8 Crown and 8 Pavilion facets. This information affords you more specificity than just the "averages", by providing detailed information regarding the cut precision and tolerances of the diamond.
Additionally, the MegaScope is set according to the American Gem Society (AGS) scale for what would qualify as an AGS scale from 0-4 level cut diamond. This Cut Grade is inversely proportional to the level of Cut excellence with 0 being the best.
Above: Detailed Megascope Report. First Report at the top of the page are the averaged numbers for the Table, 8 Crown, 8 Pavillion facets, the girdle facet and the culet facet.
Bottom: Detailed analytical report which displays level of cut precision of each of the upper 8 Crown and lower 8 Pavillion facets.
The less variance in cut angle between facets, the greater is the cut precision of the stone and greater probability that the diamond will refract maximum light to your eye. Note that the above diamond shows incredible Cut precision with variance between upper and lower facet angles of less than one degree ( Facet angles are indicated in Red, facet slope percentages in Blue)
Ask your jeweler to provide you with either a Megascope or Sarin Proportion Analysis of any diamond you are considering for purchase.
Knowledge is the power to make an informed decision and get value for your hard-earned money. You wouldn't buy a house without a comprehensive and detailed engineer's report. A diamond should be no different. A reputable jeweler will want to make sure you are fully informed.
Right Hand Diamond Rings
Recently in the diamond and fashion jewelry industry there has been an almost unprecedented marketing blitz by the DTC (Diamond Trading Company) which is the marketing arm of the DeBeers Diamond Company to promote and sell "right hand diamond rings" for women.
The idea was to basically create a niche for women to wear Diamond rings on their right hand in addition to the traditional diamond engagement rings and wedding bands worn on the left hand. The way this was done was by promoting the notion that a diamond ring worn by a woman on her right hand has a different significance and connotation than the traditional rings being worn on the left hand.
The premise of "empowering" women with a right hand ring is the main thrust of the campaign and is best summed up by this direct quote from the DeBeers website, www.adiamondisforever.com:
"The right hand need not be ignored any longer… The newest trend is the diamond Right Hand Ring. The diamond Right Hand Ring signifies the strength, success and independence of women of the twenty-first century. These rings come in a variety of beautiful designs -- Modern Vintage, Floral, Romantic, and Contemporary -- offering each woman a design that best suits her individual personality. Women of the world, raise your right hand!"
The biggest marketing companies were called in to create catchy slogans and brochures for the campaign.
Here is a photo of one of the advertisements created for this campaign:
A typical advertisement will read; "Your left hand holds on. You right hand reaches out. Your left hand plays hard-to-get. Your right hand just plays hard. Women of the world raise your right hand."
The question is, how effective has this campaign been?
I recently read a fascinating article in The Rappaport Diamond Report for the diamond industry where the author interviewed a few owners of some of the prominent jewelry stores for their opinion on how effective this campaign has been thus far based on consumer reaction.
Here is what a few of them had to say:
Paul Cohen, President Continental Jewelers, Inc. Wilmington,Delaware
"I believe as the designs evolve that the campaign will have greater impact and greater appeal....it has had an impact on increasing sales in what we used to call cocktail rings. The campaign is in effect saying, Ladies celebrate yourselves. It's okay to wear a diamond ring other than a diamond band or a diamond engagement ring. It's okay to wear a diamond dress/cocktail ring. It just gives it another name. And it's a name that's more in keeping with the evolution of women's lives and the fact that they are becoming equal; they are moving forward."
Christopher Duquet, President Christpher Duquet Fine Jewelry design Evanston, Illinois
"I haven't had a real, significant surge of requests for them in our store. I think it has been a successful campaign in terms of its psychographics. It's right on target in terms of expanding their market. But I don't think it has reached the depths yet where it has gotten consumer reaction in a big way."
The truth is that these right hand diamond rings are really nothing new at all. Kwiat, Hearts on fire diamonds, Tacori, Verragio, and many other designer ring companies have been creating fashion jewelry and diamond cocktail rings for quite some time.
In short, I think that it is still left to be seen whether this right hand diamond ring campaign will flourish and gain momentum or go bust the way of so many other diamond and jewelry fads before it.
Pictures of right hand diamond rings courtesy of DTC and www.exceldiamonds.com
Diamond Prices Going Up - Again!
DeBeers announced this week that there would be a 3 per cent across the board price increase of the diamond rough being offered to their siteholders at this months (January) site. Prices have thus been increased by approximately 30% since January 2004. This latest price increase of diamond rough will translate into an increase in the cost to consumers for diamonds ranging from .60 carats and up. Higher colors and clarity grades may increase to a greater extent due to a shortage of high-quality diamond rough.
DeBeers explained that the price increase was necessary in order to achieve a "re-balancing" due to the weak dollar.
Ok, now I don't feel guilty anymore. I will take this lesson in economics and use it in my personal life. No more angst at gaining weight, battling to stay with the diet and worrying about losing the battle of the bulge...no siree. I'm hoisting my double chocolate Twinkie and proclaiming:
I'm "re-balancing" and proud of it!
A Few Major Diamond and Jewelry Manufacturers Relocate Away From the Heart of The N.Y.C. Diamond District
I have been noticing a new trend recently, here in the Diamond District of New York City where we are located.
In the past, it has been very important for many diamond wholesalers and manufacturers to be located smack in middle of the N.Y.C. Diamond District since this is where all of the action is.
However, a few of the major players and diamond whoelsalers have begun to relocate adjacent to the Diamond District just outside the main streets of the diamond cutting factories and jewelry retail stores.
I think this has much to do with the fact that today many diamond wholesalers are finding themeselves in a situation where most of their clients are out of State/Country, and almost everything is done on an import/export basis. Since most of their business is conducted via telephone and computer, they don't really need to be in the Heart of the Diamond District, and cannot justify the additional rental premiums. They are relocating to bigger and nicer offices right outside the diamond district for less money.
I know that Louis Glick Diamonds has already set the stage by relocating his diamond and jewelry facilities just outside the diamond district in Rockefeller Center, and is quite happy about it.
I also just met a colleague of mine yesterday from a well known supplier company for Princess cut diamonds. He told me that their company also moved recently from the diamond center to Times Square in N.Y.C.. They were able to rent an entire floor of a beautiful building for less money than they were spending on a substantially smaller space in the heart of the Diamond District.
This all goes back to the principle of market forces and the premium spent on "location, location, location".
I wonder whether this will be a continuing trend for some of the smaller diamond manufacturers and diamond retail stores in the months ahead.
Everything in PINK! The New Craze for Pink Gold and Pink Sapphires.
In a recent article in the Modern Jeweler magazine; Pink Sapphires have become the rage in fashion and bridal jewelry.
With actual colors ranging from shades of dusky rose to reddish gold, pink is now more than just a trend in jewelry. It has become a staple commodity in both gemstones and precious metals.
The mainstream jewelry stores and fashion jewelry boutiques are now showcasing pink jewelry in every conceivable look and configuration.
You have pink gold with white gold, pink gold with platinum, pink and white gold with combinations of pink sapphires and dazzling white diamonds, etc.
Jewelry retail stores have seen a tremendous hike in demand for diamond engagement rings in pink gold, accented by pink sapphires and fine gemstones.
White gold and diamond earrings with pink sapphires:
Rose Gold and diamond bangle:
What's up With Zales Diamonds?
I've been reading lately about all of the new initiatives in the works for the Zales Diamond and jewelry chain; North America's largest diamond and jewelry retailer.
The company has opened almost 120 jewelry stores thus far, have 50 additional units slated to open by mid-2005, and an additional 50 for 2006. Eventually, they hope to have 300 jewelry stores nationwide.
What I don't understand is how and why they are doing this given their recent and much publicized declaration of a $10.9 Million dollar net loss for the fist quarter, up from $9.2 Million in the same period a year earlier?
My guess is that they are losing alot of business to online diamond and jewelry merchants who are offering significantly higher quality jewelry at better prices. Also, many brick and mortar specialty retailers of fine jewelry are catering to the savvy shopper who wants better quality diamonds and jewelry.
I would think that in order to stay competitive as a leader in the jewelry industry they (Zales) would be better served to focus on selling better quality ideal cut diamonds and jewelry instead of looking to open more stores selling the same commercial quality diamonds and jewelry that they have become synonymous with.
Just my two cents.
Diamond Shopping on the Internet: Does Your Diamond Sparkle and Light Up?
A major question being asked by consumers shopping for diamonds on the Internet is how can I tell if the diamond I'm interested in sparkles and is brilliant? Most diamond websites show only the data from the Lab report, others only sample or generic images and the few sites that do display actual photo's are of undefined lighting conditions and of poor resolution.
Gemex Systems of Mequon, Wisconsin (www.gemex.com) has developed a spectrophotometer called the Brilliancescope that measures a diamond's light performance.
Above: Brilliancescope by Gemex Systems.
A diamond is scanned in the Brilliancescope by having a light reflected back through the diamond's crown at six different angles from the light source. Light performance is measured and compared against a database of thousands of diamonds and categorized as White Light (Brilliance), Colored Light, (Dispersion), and Scintillation (Sparklies). The results are presented in two ways: As a linear graph that shows how a diamond performs against the entire database and as six digital photographs; 5 reflective and 1 diffuse which depicts the Cut Symmetry of the diamond. The photographs display amount of light intensity, location and distribution of light, and extent of interaction between the light components being measured by the machine.
Above: Brilliancescope Light Analyses Report. Note the light intensity, location and distribution of reflected light as depicted in the 5 Light Views and the symmetry in View 6.
Compare to the Brilliancescope above. Note the significant differences in light intensity, distribution, and interactions.
Important Lessons on the Meaning of Luxury
I just read a fascinating article by Dr. James Taylor, Vice Chairman of the Harrison Group LLC. Based in Waterbury Conneticut.
Dr. James Taylor has spent 20 years of his life in the business of marketing luxury goods and products. Recently he conducted an exhaustive national survey on the top 1 percent of the American Economy. Here is what he found:
*Luxury is a neccesity: it is part of the purchase method and intent of virtually all consumers. The question isn't whether to possess luxurious objects and services, but how much can be possessed and what is the meaning of the objects to the possessor.
*Luxury is defined by the meaning objects hold for people and not the objects themselves. True luxury is the emotional connection and significance that an object holds for a person. This object can be a Prada purse, a pair of cowboy boots from JB Holt, a trip to a Pat Pirelli seminar, or a massage at Ten Thousand Waves in Santa Fe.
*The language of value in the world of object de luxe is inversely modest in proportion to the price, value and authenticity of the item. The more a flawless white diamond approaches 10 carats, the less one needs to say.
*The more the Luxury Object is associated with a compelling and binding meaning in terms of emotional connectivity, personal harmony, spiritual connection or a connection to the world of the inherently beautiful, the greater the marginal value of the object to the seller. more meaning means more profit.
*The meaning an object de luxe holds for people grows to the extent that the object offers self-reflexive connections to a person's sense of self-esteem, competence and personal value.
*Inherent scarcity, consistency, transitivity, emotional connectivity and mastery of excellence in a category are the hallmarks of value in an object de luxe.
*The value of an object de luxe is shaped by meaning content, not design; even clumsy design can be valued, collected and treasured.
Whew!! This is some pretty powerful stuff! I've been thinking about this today and see so many similarities from the observations above to the arena of branded diamonds and their indication of a certain level of quality, consistency, and value.
This is definitely a topic that is deserving of an in depth analyses at a later time.
Diamond Information and Educational Websites.
A website that consumers should spend some time on:
www.gia.edu
GIA is the foremost Diamond Grading laboratory and Research Institute in the world for diamonds and gemstones. They are also the leader in educational programs for both the trade and the public.
The site offers a wealth of accurate and comprehensive information on Diamonds, Gemstones, and Jewelry with tips and pointers on how to shop smart and get maximum value for your dollar.
Diamond Sales Tips from Jewelry Experts
Some of the most knowledgable jewelry salespeople in the country congregated recently in central Florida to sell old jewelry inventory at the premiere of the Presige Jewelers Vault Inventory Liquidation show. The show was held for a period of 3 days in Orlando, Fla, in mid October 2004. The ballroom was packed with great fashion jewelry deals for both consumers and jewelers alike. The show also turned up the following sales tips:
* Always under-promise and over-deliver. If you promise designer jewelry items for Tuesday, have it ready on Monday.
Source: Weston Jewelers, Weston, Fla.
* Arrange jewelry pieces in sets so that consumers can visualize jewelry items on themselves. This also makes it easier to up-sell items Source: Moyer Fine Jewelers, Carmel, Ind.
* Never Judge Clients by their looks. Customers' purchases might surprise you. Source: Weston Jewelers, Weston, Fla.
* Know your customer. If you sell a diamond bracelet as a Christmas gift to a man whose wife hates bracelets, he'll be back in January to return the piece.
Source: James Free Jewelers, Dayton, Ohio.
* Listen to your customer. If a diamond or jewelry customer says, "I never wear white gold," don't pull out the platinum jewelry. Observe their style, the colors they wear, etc.
Source: Shreve, Crump, & Low Jewelers, Richmond, VA.
* Know when to stop selling. Customers generally indicate when the next contact should be. You also don't want to confuse your customer by "adding on" too much to the sale.
Source: Sidney Krandall & Sons, Troy, Mich.
* Present it, present it, present it! Observe what the customer is already wearing and suggest pieces.
Source: Susan Robinson Jewelry, Tyler, Texas.
* Remember what you've already sold to a customer. That makes it easy to sell pieces that complement the others.
Source: James Free Jewelers, Dayton, Ohio.
* Get jewelry pieces onto customers. Sales are easier once shoppers see themselves in the jewelry merchandise.
Source: Gold & Roses, Stockton, Calif.
* Smile! Buying jewelry is a happy occasion.
Source: Little Switzerland, Boca, FL.
* Location, location, location. Secure a good location for your jewelry store.
Source: George Walton's Gold and diamond
Co., Anchorage Alaska.
* Connect first, sell second. Make friends and care about your diamond customers; ask questions and be sincerely interested in the responses. Relate to shoppers so they are comfortable and open to what you are selling.
Source: Fire & Ice, Juneau, Alaska
* "Shut up" at the end of the sale. Listen twice as much as you speak.
Source: R.F. Moeller Jeweler, St. Paul, Minn.
* Always be closing. Perform suggestive trial closes throughout the sales pitch and ask for the sale at the end.
Source: Barry Peterson Jewelers, Ketchum,
Idaho.
* Know your market. Offer the right jewelry product for the right individual coming into the store.
Source: Tivols, Kansas City, MO.
Diamond Stars come to New York
Much was made about "Mr. Congeniality" (RJ) blowing up at a TV photog.
New Yawkers don't care, "JUST WIN BABY!"
Diamond Engagement Rings
I thought it would be important to provide you with a list of different types of Diamond Engagement rings. There are so many different styles of diamond rings that it often gets confusing when the time comes to make the big purchase! There is a never-ending selection of unique engagement rings available today and it is important to know what your options are.
Platinum engagement rings are extremely desirable due to the incredible contrasting qualities of the precious metal to the white center diamond!
There are 3 stone diamond rings that are incredibly popular today as a result of a major marketing strategy on the part of DeBeers...
Traditional Diamond Solitaire Rings like the classic Tiffany Engagement ring, have obviously been the most popular diamond rings of all time and will never go out of style.
Diamond engagement rings are available with accent diamonds on the side or even precious gemstones, such as emeralds, rubies, and sapphires.
There are even some designer companies today like Gelin & Abbaci and Scott Kay that have created Tension setting diamond engagement rings where the diamond seems to be suspended in mid air without the aid of a 4 prong or 6 prong setting.
I have enclosed a photo collage below of some different types of diamond engagement rings that are available today.
Of course you can visit us at www.ExcelDiamonds.com for the finest selection of breathtaking and unique diamond engagement rings!
Enjoy!
In-Store Diamond Appraisals: Worthwhile or Worthless?
Can you be confident that your in-store jewelry store appraisal is accurate in it's appraised value? Keep in mind that the in-house appraiser/gemologist is on the store payroll and as such the appraisal may be inflated to make the store look good and you feel better that you have gotten a great deal. It is not uncommon to see in-store appraisals that are two and three times the actual retail value of the item. This in turn unnecessarily increases your insurance premiums. Recouping such appraised value from the Insurance company for the item should it be lost or stolen may be very difficult. Keep in mind that a diamond that is mis-appraised by even one color and/or clarity grade may amount to a significant amount of money.
An Independent Appraiser is one who does NOT sell diamonds, gemstones, or jewelry and ONLY does appraisals for a living. Seriously consider getting your item independently appraised and make the final sale contingent on that.
If your item comes with a report or certificate from an accredited
laboratory, it's a good idea for an independent appraiser to coroborate that report.
Diamond Prices Update.
Last week's DeBeer's site was one of the largest of the past year and valued at approximately 750 million.
Site holders reported that prices were increased by 3-4 % across the board with greater price increases for larger diamond rough of 3 carats
plus. Site holders also reported that they will have to increase their prices for the polished goods from 3-6% in order to maintain profitability.
Retail consumers can expect to see these increases on diamonds from .75 carat and up very shortly.
Gold's Demise: Another False Alarm.
Saw this article today on YahooNews.com from so-called "experts" who are once again predicting the demise of Gold.
Here's the link:
This is the proverbial "Boy Who Cried Wolf".
Worldwide sales of gold jewelry remain robust and this past Holiday Season saw very strong sales of Gold Jewelry. In particular two-tone gold jewelry is now extremely popular especially in 18 Karat configurations.
If you read the comments by the so-called expert and analyst, Jessica Cross, you will clearly note that for every one of her alarmist predictions for Gold's imminent downfall she provides a counterbalancing hedge comment. Sum result: Much ado about nothing.
If anything, there are pervasive arguments to show that Gold's price will remain strong and increase in the near term:
1. Gold's price has risen 60% since 2001.
2. Price is increasing at the rate of 2-4% a year.
3. Weak dollar which shows no signs of reversing.
4. Political instability and economic inflation in many parts of the
world.
5. Traded Gold funds which use physical gold as backing.
6. Increasing consumer demand...3rd Quarter 2004 showed an increase
of 8% over same period 2003.
Amazon.com now selling Diamonds, Engagement Rings, Wedding Bands. Are You Benefiting?
Amazon.com is following their strategy of becoming an all-encompassing global e-commerce web-site by gradually expanding their product offerings and have recently added diamonds, engagement rings, and wedding bands to their inventory.
They're doing this in two ways:
1. Listing established diamond and jewelry e-commerce vendors on their Amazon website with direct link-throughs. These vendors pay a monthly fee to have their products listed and a 15% straight commission to Amazon for each item they sell.
2. Selling their "own" merchandise directly to you.
These diamonds, engagement ring settings, and bands are not owned by Amazon, but by wholesalers who drop ship directly to the consumer.
Diamonds are certified by the American Gem Society (AGS) or the Independent Gemological Institute (IGI). Amazon does not physically inspect the merchandise prior to shipping and in the case of diamonds, no additional information such as Cut Grade Analysis or Light Performance results are included.
IGI is known in the trade for being very generous in their color and clarity diamond grading and is considered to be several rungs below the industry standard bearer, the Gemological Institute of America (GIA) in the accuracy, consistency, and stringency of it's grading.
AGS is considered to be on par with the GIA.
Choices and information on the Amazon Diamond order Form are limited in scope and information. A test order for a 1 carat diamond yielded these choices of three categories provided to the consumer:
1. Fair Cut; defined as a minimum of I color and I-1 Clarity,
2. Good Cut, defined as a minimum of H color and SI-2 Clarity,
3. Ideal Cut; defined as a minimum of G Color and VS-2 Clarity.
4. Carat weight; minimum of .95 carat.
IMO, there are several problems in buying a diamond in this fashion.
1. The fact that Amazon drop ships without examining the merchandise prior to shipping means that Amazon is not corroborating that the diamond is as described by the wholesaler. If there is a problem, Amazon gets caught in the middle between the wholesaler and the customer.
2. Not enought information on the Clarity Gradings. It is well known in the trade that there can be a qualitative difference between two diamonds that have the same Clarity Grading in the range of SI-1 down to I-1. Eye visibility of inclusions critically depends on their size, location, and color. One diamond graded as SI-1 may be absolutely eye-clean in the face-up position whereas another SI-1 clarity graded stone may contain inclusions that are easily seen without magnification.
3. Definition of Cut is inaccurate as it is couched within the framework of Color and Clarity. Cut has nothing to do with Color or Clarity but is dependent on correct proportioning of facet size, facet angle, and facet placement. A diamond's Light performance which is what you're buying ( in laymen's terms it's called Bling-Bling) depends on the precision of the Cut proportions. The better the Cut, the better the face-up appearance of the stone. Amazon does not provide any information.
4. Carat weight is defined as a minimum, not an exact carat weight size. This a serious problem for two reasons:
1.There is a significant price jump (up to 15%) as you cross from .99 carat to 1.00 carat, and
2. Carat weight alone tells you nothing about proportion and proper spread. As the graphic below clearly demonstrates, you can have two diamonds of the same carat weight but differing proportions that will display significant differences in the quality of Bling-Bling.
You might very well be paying more money for less diamond.
Above: Diamonds of the same carat weight but with different Cut proportions.
Below: Light Performance Analysis (www.gemex.com) of two "Ideal Cut" Diamonds. Note the differences.
Consumers are becoming more knowledgeable about diamonds and jewelry and demanding more information.
As internet diamond and jewelry sales are increasing at a rapid rate, it appears that Amazon wants a piece of the pie. Whether selling diamonds with their paucity of information will get them a large slice or the crumbs remains to be seen.
Diamond Industry Saddened by Loss of a True Gentelman
Jeffrey Comment, CEO Helzberg Diamonds
The diamond industry mourns the loss of one of its "diamond stars", Jefferey W. Comment, Chairman and CEO of Helzberg Diamonds.
Jeffery, a noted philanthropist and well respected member in the diamond trade died unexpectedly on Oct. 30. He was 60.
Comment is credited with helping to expand the Helzberg Diamonds retail chain from 72 to 265 locations throughout the United States during his 16 years with the company. His focus was on (diamond) brand protection - a topic he recently lectured on for GIA students at the institute's world headquarters and Robert Mouawad Campus in Carlsbad.
"Jeff Comment was a true gentelman, intelligent, articulate and giving as a leader, and as a human being," said GIA President William E. Boyajian.
Comment was active in many charitable causes, including the United Way
here is a link to a recent tribute to Mr. Comment from their website:
Comment is survived by his wife of 34 years, Martha, and his two children, Kristen and Ryan.
Diamond In The Rough.
Above: 'What time is it, Herm?'
"Clock Management" is a four-letter word to this "Star" of New York.
The most amazing thing about Herm's chronic inability to manage the clock in the last two minutes of a game is that after several clock management fiascos last season, "Coach" went out and hired himself a
"Clock Management Coach" whose only responsibility during the game is to manage the time clock and keep count of the number of time outs still available to the team. His name is Dick Curl and his title is "Director of Special Projects". You can't make this stuff up, folks.
You think Bill Belicheck knew what he was getting out of when he quit as Jets Coach four years ago after a tenure of one day.
Could these perennial Jet disasters be the Curse of the Babe? Did the Babe ever play Football?
If you did your job like this, would you still have one?
Hearts on Fire Diamonds Launches new Website
I just noticed the newly revised website launched by www.heartsonfire.com diamonds. I must say that this new look is a huge improvement over their old website.
I was previously amazed that for a branded diamond company selling their Hearts on Fire diamonds on the premise of being "The most perfectly cut diamond in the world", the huge amount of marketing money they spend to effectively sell this concept; that they did not devote any attention to their lackluster website.
Their company objective has always been to invest a fortune of money in promoting and selling their Ideal Cut diamond (Hearts on Fire Diamonds and Hearts on Fire "Dream" Diamonds) at inflated premiums. Competition has dramatically increased, however, for the Ideal-Cut diamond buyer as new players have sprung up on the internet selling Super-Ideal cut Diamonds that come with more information and at substantially lower prices.
It is interesting to note however, that in spite of increasing consumer awareness and knowledge the new Hearts on Fire diamond website is still much like its predecessor; emphasizing romance with little product information or data.
Diamond and Jewelry Online Holiday Sales Surge!
Comscore.com reports that On-line Holiday sales significantly increased in 2004 to a record 117 Billion! This is an impressive 29% increase over 2003.
The link is here:
Buying a Diamond: Some Basics.
There is so much information available today on diamonds that you really owe it to yourself to educate yourself properly prior to taking the plunge for your dream diamond.
Reading books and browsing excellent diamond information websites on the internet is certainly a great place to start. However, you still need to learn the basics on the diamond buying process so that you can prepare yourself for what lies ahead. Remember that you are about to embark on an emotional, once in a lifetime (you hope..) purchase for a significant dollar value. Just like you would not buy a car or a home without doing proper homework; similarly, you will need to arm youself with knowledge before you can be certain that you are buying a quality diamond.
Here are some of the diamond basics:
First learn about the Four "C'S" of diamonds and how they affect a diamonds rarity, beauty, and price. Most importantly, unless you are ready to blow thousands of dollars on a diamond that will look like frozen spit, make sure that you absolutely "know your stuff" when it comes to "Diamond Cut" specifically. The degree of precision to which your diamond has been Cut is most crucial in determining how brilliant your diamond will appear to the eye.
The fact that most people want a BIG diamond is fine, just be aware that often times there is a direct consequence to getting a diamond that was crafted to achieve a big carat weight. By cutting a rough diamond for maximum weight retention, the diamond cutter will sacrifice on the beauty and brilliancy of the stone. Conversely, by sacrificing carat weight and cutting away more diamond from the rough, a cutter will achieve a smaller diamond of infinitely greater brilliance, fire, and scintillation.
Above: Three diamonds of the same carat weight cut to different proportions. Buying the shallow or deep cut will give you less diamond for more money. A poorly proportioned diamond will have less Brilliance, Dispersion, and Scintillation.
I recommend that you see for yourself the difference between a (larger) diamond of poor cut quality versus a (smaller) diamond of ideal cut proportions. The physical, visual difference between the two diamonds is absolutely profound and will certainly be food for thought.
Go to your local jewelry stores and see what kind of quality diamonds they are offering you and what their prices are. Remember to take the diamonds as far away from the countertop as possible. The diamond and jewelry stores all use high intensity halogen bulbs in their showcases that makes all of their diamonds and jewelry look fabulous. This is one of the oldest tricks in the book, so make sure that you give yourself a chance to see how the diamond will actually look in real life lighting conditions....you may be very surprised.
Ask for an INDEPENDENT diamond certificate. This is a diamond grading report issued by a diamond grading laboratory whose only interest is to give you a proper evaluation of the diamonds characteristics. The most recognized diamond laboratories in the world are the GIA and the AGS. There are other laboratories out there including some "labs" that are used by some jewelry stores whom nobody ever heard of. These labs that have a vested interest in protecting the proprieter, are known to give diamonds better color and clarity grades than they actually deserve, are essentially worthless and quite harmful to you. Make sure that you don't wind up with a diamond graded by one of these "laboratories" of dubious distinction; you'll be paying for something that you are not getting.
GIA, The Worlds Foremost Diamond Authority Writes on Diamond Cut.
For anyone interested in the most crucial element of the "Four C's of diamonds, this article on Diamond cut by the GIA is an absolute must read!
Interactive Diamond Tutorial!!
The GIA (Gemological Institute of America) has put together a fantastic and interactive tutorial on the basic 4 C's of diamonds (Carat, Clarity, Color, and Cut). All diamond beginners will benefit greatly from this diamond tutorial which will definitely give you a superb headstart on learning about diamonds!
Click on this link:
http://www.gia.edu/howtobuydiamond/Tour_FrameSet.htm
Lifegem Diamonds...For the Love of Your Life!
Are you looking for a memorable Diamond Gift?
Look no further, here it is.
This website manufactures the "Lifegem Diamond".
"What is the Lifegem Diamond," you ask?
Here is what they say:
What is a LifeGem?
"A LifeGem is a certified, high quality diamond created from the carbon of your loved one as a memorial to their unique and wonderful life.
The LifeGem provides a way to embrace your loved one's memory day by day. The LifeGem is the most unique and timeless memorial available for creating a testimony to their unique life.
We hope and believe that your LifeGem memorial will offer comfort and support when and where you need it, and provide a lasting memory that endures just as a diamond does. Forever."
Rod Serling, where are you?
Having Trouble With My (Computer) Mouse Today
I've been having trouble all day today with my computer mouse. One second its working fine and the next second the mouse just shuts down on me?? Its been extremely frustrating trying to get anything done.
Do you think my mouse is just plain fed up of being manipulated and is giving me a taste of my own medicine?
My mouse is too smart??
Diamond & Jewelry Website Compliance. I
The Jewelers Vigilance Committee Consumers Buying Guide reminds consumers that diamond and jewelry websites that sell to the retail consumer can not per FTC Guidelines advertise that "We sell at wholesale prices."
Selling to consumers is a retail transaction if the selling price results in a profit to the seller.
"Wholesale" refers to transactions to someone who then resells this merchandise for a profit.
Diamond Retailers Battling Shrinking Diamond Margins
Just read an interesting article on shrinking retail margins for Brick and Mortar diamond retailers.
Overall gross margins for the diamond industry are only down slightly from last year to this year. However, gross margins for diamond jewelry sank from 51.6 percent in 2002 to 48.9 percent in 2003, while margins on loose diamonds dropped nearly 8 percent, from 47.4 to 39.7 percent in 2003.
The article asserts that diamond retailers are faced with the pressures of a tough economic climate and greater competition, especially from diamond internet vendors. The rise in wholesale costs of diamonds and the prices for diamond rough (14 percent higher in the first half of 2004 than in the previous-year period) have also contributed to this climate.
Many independents are also hurting from the fact that their diamond suppliers and diamond wholesalers are offering their listings to diamond e-tailers who have a clear edge since they can afford to sell their virtual inventory of diamonds for a few percentage points above cost - unthinkable for a brick-and-mortar operation.
So what are the jewelry stores doing to combat its margin problems?
Some diamond companies are going back to the basics and preaching old-fashioned customer service, and the benefits of owning diamond inventory rather than having it on memo.
Zales Diamond Corp. launched a purchasing initiative last year, buying loose diamonds and mountings separately and assembling solitaire rings, diamond rings, and diamond pendants in house. This tactic should help them reduce their up-front costs.
The shrinking margins have also given new life to the debate over diamond branding, like recognized brands such as Hearts on Fire Diamonds, SuperbCert Diamonds, Tiffany Diamonds, Lazare Kaplan Diamonds, et. al.
Retailers are acknowledging that the only way to compete in todays diamond market is to offer a private label, higher quality diamond. Consumers are becoming more eduacated about the 5 C's to pay top dollar in a local jewelry store for a poor quality diamond.
Diamond & Jewelry Websites: Compliance II
FTC guidelines require that websites must clearly indicate the carat weight of the diamonds or at the very least a statement that the diamond weights are not exact.
If you see this: "3/4 carat center diamond" and "1/2 carat total weight diamond stud earrings" you must ask the vendor to specify the exact carat weights for these diamonds. If that information is not forthcoming, move on to another jeweler.
Famous Diamonds: One Of A Kind.
Famous Diamonds
For all Diamond Lovers!!
To see some of rarest and most famous fancy diamonds under one roof, Click Here for Bling Bling!
The Importance of Appraisals and Insurance: I
For most individuals, the purchase of fine jewelry is a major investment and, as such, should be insured like other valuable items (for example, your car, home, or expensive electronic equipment). However, most people who purchase homeowner's insurance assume that their jewelry is automatically covered under that policy. Although many homeowner's insurance policies include jewelry, coverage is usually limited to small amounts like $1,000.00. This amount is also subject to your homeowner's deductible, which in most cases, is $250.00. Therefore, $1,000.00 worth of jewelry insurance, after a $250.00 deductible, equals only $750.00 in total jewelry coverage.
There are very few of us who own less than US$500.00 worth of jewelry. Most people are unaware of how much their entire jewelry collection is worth. Two wedding bands alone can exceed the $750 jewelry coverage you may have under your homeowner's policy. So, how do you protect your fine jewelry from loss or theft? The easiest and most cost-efficient way is to add each individual item to your homeowner's policy, or add what is referred to in the insurance industry as a "separate rider." This is a very simple procedure and, in the long run, could save you thousands of dollars if a loss should occur.
The first step is to find a qualified jewelry appraiser to write an accurate appraisal. Find a qualified jewelry appraiser (preferably one who has a gemological background). You may also want to check the educational background of the person who will be writing your appraisal. No state or federal government agency requires that a jewelry appraiser have any gemological training whatsoever, so be careful whom you choose.
Once you have secured an accurate and up-to-date appraisal, call your insurance agent and have your jewelry items added onto your existing homeowner's or renter's insurance policy. If your addition is a certified piece of jewelry, be sure to submit a copy of the certificate to your insurance company. There will be an additional cost or premium associated with this addition. However, for the protection, coverage, and peace of mind you are receiving, the premiums are a small price to pay for the added security. In most cases, the premium is based on the appraised value of each jewelry item. The cost averages between $10.00 to $25.00 per $1,000.00 in jewelry value. For example, the insurance premium for a diamond ring appraised at $5,000.00 will be $50.00 a year if the cost is $10.00 per $1,000.00.
If $50.00 seems like a lot of money, consider what you get in return. You are covered 100% without a deductible if the diamond ring is stolen anywhere in the world, if the diamond is lost in a fire, or if the diamond mysteriously disappears or is damaged. If your diamond is chipped, the insurance company will replace or repair your diamond up to the policy limits.
Keep in mind that insurance policies differ from state to state. Consult your insurance agent and carefully review your jewelry policy before you buy additional insurance.
Designer Engagement Rings: Bridal Jewelry by Vatche
People have expressed an interest in seeing some info. on some of the more recognized designer diamond engagement ring manufacturers.
Here is the first of a series of postings on the subject:
Vatche
As a child Vatché showed a great talent to design and create. At the age of twelve, a well-known designer and model maker took personal interest in Vatché. He trained him in every aspect of jewelry making from the cutting of rough diamonds to handling different metals with their unique character and texture.
At the age of eighteen, Vatché was hired by one of the world's most prestigious high-end jewelry manufacturers. For the next two years he dedicated his time to perfecting his design skills.
In 1988 he opened his first manufacturing and model making company. It was then that Vatché introduced quality hand-made platinum pieces for internationally renowned jewelry showcases. It was then that he branded some of his new designs as D. Vatché. He carefully analyzes the market and designs his jewelry with accuracy and perfection. All his designs reflect his philosophy that jewelry is meant to be adored from generation to generation as a timeless piece of art. This is why Vatché guarantees every piece of his jewelry for a lifetime.
Diamonds & Jewelry Sales Compliance: III
Guidelines for Consumers to follow when shopping for Diamonds and Jewelry as suggested by the Jewelers Vigilance Committee (JVC).
Terms of Sale Questions:
___ "Will the seller list all the information they have given you in writing?
___ Is your purchase returnable? For how long? If so, do you receive cash, card credit or store credit?
___ What is the policy if the item does not fit? Or, if it needs modifications? Is there a charge for adjustments?
___ Does the item come with a warranty or guarantee?
___ Are there any special care instructions or maintenance for the jewelry you are purchasing?"
Remember folks, get EVERYTHING in writing.
Montegrappa Diamond "Peace Pen"
Proving that there is a market for dazzling white diamonds in any industry; noted pen maker Montegrappa has just introduced its new $1 million dollar diamond studded "Peace Pen".
Would make a great Valentine's Day Gift!
Friedman's Jewelers Files Chap 11.
Rapaport Trade Wire reports today that Savannah-based fine jewelry retailer, Friedman's, Inc. has filed for bankruptcy under Chapter 11 for itself and nine of its subsidiaries.
Lenders reduced their cash flow to the struggling
company, after delayed inventory shipments caused the company to fail
to meet its minimum sales goals. Friedman's was left with no option
but to file for bankruptcy.
The company said the filing should provide it breathing room necessary
to complete financial restructuring initiatives it embarked upon more
than five months ago.
Friedman's began as a small, family owned retailer called Friedman's
Jewelers in 1920 which went on to become a publicly traded company
with 653 stores across the Southeast, Mid-Atlantic and Midwest with
roughly 4,000 employees.
Sotheby's Puts Jackie O Jewelry on Block
Jackie Onassis Kennedy
A small selection of fashion jewelry owned by the late Jaqqueline Kennedy Onassis will be among the many lots offered by Sotheby's in their Feb. 15-17 2005 auction.
These magnificent jewelry items include many unique diamond jewelry pieces by Van Cleef and Arpels. There is a diamond bracelet and diamond earrings estimated at $3,000 to $5,000 and a colored stone and diamond brooch estimated at $1,200 to $1,500.
The sale will also include a silver-topped gold, sapphire and diamond flower brooch estimated at $12,000 to $15,000, a Cartier black velvet, diamond, coral and Emerald purse estimated at $3,000 to $4,000; and a Faberg'e gold and enamel miniature triptych frame, circa 1900, estimated at $15,000 to $20,000.
A portion of the auction proceeds will go to the John F. Kennedy Library Foundation and other charities.
There are going to be many more pieces of fine jewelry on display and the auction is open to the public. If you are a collector of fashion jewelry and jewelry collectibles (vintage jewelry etc.) this is probably something you don't want to miss!
For more information click on this link.
Diamond & Jewelry Compliance IV : FTC Guidelines.
On-line jewelry websites offering colored stones, either loose or in jewelry need to properly describe these stones.
For example, emeralds created in a laboratory that are offered for sale, and are described as "faux" is misleading and against FTC guidelines, even though they may have all the properties of the real thing. They need to be described as synthetic, laboratory-created, etc.
The true nature of the product must be clearly disclosed.
GIA Study on Diamond Cut: Part II
Continued from Diamond Cut I
Consumers should read these articles to get a flavor for how GIA scientists have developed and settled on their interpretation of Cut.
The Cut of a diamond is the most important "C" of the 5 C's:
1. Cut
2. Color
3. Clarity
4. Carat Weight
5. Cost.
The better the Cut, the more sparkle and life your diamond will display.
The second installment of the GIA series is here:
Readers might also want to go back and review some of the Diamond Basics on the importance of Cut that we covered in an earlier Blog entry. The link is here:
Diamond Color Grading Starts with the Letter "D": Why?
The color grading for colorless to near colorless scale is denoted in letter grades that run from "D" to "Z". Most diamonds used in jewelry are nearly colorless with faint yellow or brown tints. These diamonds fall in the normal color range. A diamond that is said to have 'fine color' has little or no visible coloration. The less color, the higher the value.
The GIA (Gemological Institute of America) instituted the "D-Z" scale back in 1953. Until that point, there were various poorly defined color grading scales that were confusing to consumers.
Color systems that were used ranged from numbers (0,1,2,3) to Roman Numerals (I, II, III). Letter grades were also used, e.g.; A, B, C, and even "AA". Descriptive terms such as "blue-white" and "gem-blue" were also used. All of these grades had shifting definitions and variances depending on the dealer being shopped.
GIA decided to make a fresh start and introduce a color-grading scale that would have absolutely no connection to any of the previous scales. Thus the GIA scale starts at the letter D.
Today, this GIA color grading scale has universal acceptance and is used by all grading laboratories and tradespeople.
Above: GIA Color Grading Scale.
Who Can Talk Diamonds When You're Buried In Snow!!
This past weekend the Tri-State area was hit with the first real Blizzard of 2005!
We had about 14 inches of snow!
It took me an extra 45 minutes to get to the office this morning (New York City Diamond District) due to the weather.
Pearl Jewelry Looking Strong For 2005
Pearls' popularity is peaking for the begining of 2005 and is showing no signs of slowing down.
Trend analysts predict that for 2005 designers of fashion jewelry will be going for nontraditional materials, and will look to combine pearls of various shapes and sizes with leather, rubber, and sterling silver.
Some of the big sellers predicted for 2005 are ribbon-tied pearl chokers, long pearl and gemstone strands, tahitian pearl bracelets, pearl cufflinks (for men), south sea pearl diamond rings, tahitian pearl rings flanked by diamonds and pearl cocktail rings.
Much of the tremendous surge in popularity for pearl jewelry has to do with their availibility in many hues and colors as well as funky shapes (eg: barouque pearls) that allow designers to innovate.
Gemology Course-On Line: Check this out.
For all of the diamond and jewelry lovers out there who desire to learn as much as possible about diamonds, precious gemstones, and jewelry; here is an excellent on-line gemology course.
Valentine's Day Ads. For Dummies. (20 Days Left, Guys).
Diamond Billboard by Lorena Bobbitt.
For all the dummies out there who never heard about getting their woman some diamond jewelry for Valentine's Day; This billboard ad was made for you!
GIA's New Diamond Cut Grade System: Highlights.
GIA's new Diamond Cut grading system due out in mid 2005 will consist of five grades for overall Cut quality, which will encompass seven separate components:
1. Brightness
2. Fire
3. Scintillation
4. Weight
5. Ratio
6. Durability
7. Polish and Symmetry.
The lowest result from any of the seven components determines the overall Cut grade.
GIA defines scintillation as flashing spots of light that are seen as the diamond, observer, or light source moves. The pattern ,size, and contrast of bright and dark areas are noted.
Design and Craftsmanship includes considerations of unbalanced weight between the Upper and lower sections of the diamond, extremely thin girdles, shallow crown and pavillions, Polish and Symmetry.
Diamonds within each Cut Grade may still "look" different due to their individual facet angle, facet size, and facet alignment and placement.
Price Increases in Diamond Rough Impacting Retail Diamond Prices.
Rapaport's trade industry web-site reports this morning that the price of rough diamonds has risen 15% in the last six months putting increasing price pressure on retail diamond prices. This is further exacerbated by the current dearth of high quality diamond rough.
At present on the market, D-E-F color; VVS-VS Clarity Round Brilliants from 1.25 to 3.0 carats are scarce and commanding premium prices.
Friedmans Receives $$ Bailout for their Chap 11 Reorganization.
Trade sources report this morning that jewelry retailer Friedman's Inc. announced January 24 that it had received interim court approval to borrow up to $40 million of a total of $150 million in financing from Citibank.
Friedman’s will use the funds to repay its pre-petition revolving credit facility, to purchase inventory and for general corporate purposes. A final hearing on access to the remaining sum is scheduled for February 18.
The Company also announced that during the first day of hearings, it had received approval to pay pre-petition employee wages, salaries, workers' compensation, health benefits, life and disability insurance during its chapter 11 restructuring.
Jewelry Designers Partner With Celebrities
The concept of Jewelry "Branding" is nothing new to many designer Jewelry companies. There are some jewelry manufacturers who have recently partnered with celebrities to promote their designer jewelry.
Unlike with advertising and marketing which takes years to really make an impact; Celebrities offer instant name recognition.
The house of Mouawad (jewelers) has collaborated with supermodel Heidi Klum on a jewelry collection for the last three years. Klum designed a jewelry collection that includes about 100 pieces of fine jewelry priced from $300 to $80,000. Klum is heavily involved in creating the line and can offer her fans a product with more than just her stamp of approval as a spokesmodel.
In addition to her involvement in the design, Klum is extremely visible in the Jewelry's marketing, appearing in advertisements and at special events promoting the line, to help customers make the connection between the products and her name and image.
A-list actor Brad Pitt has also been affiliated with Fashion Jewelry Designer, Damiani after working with the designer to create wedding rings for himself and his (soon to be ex) wife Jennifer Aniston.
More recently, Damiani has partnered with actress Gwyneth Paltrow to be their spokesmodel for 2005.
Silvia Damiani with the new face of Damiani for 2005 Gwyneth Paltrow
While jewelry manufacturers benefit from the instant branding of their jewelry products, the partnership offers benefits to the celebrities as well.
Robert Thompson, an expert of popular culture and Professor at Syracuse University says that the move toward celebrity products represents a natural evolution for celebrities, spurred partly by the American public's facination with them. He adds that jewelry is especially suited to celebrity endorsements due to its grandeur.
"Jewelry is one of those luxury items that you get for its association with glamour and wealth, and the kind of lifestyle that only big celebrities can sell and endorse.," he says.
The celebrities themselves are seeing that, rather than being advertisements for someone else's designs, they can create (and profit from) their own design. This is a very powerful motivator for them and has been the catalyst for many celebrities including Paris Hilton, Jennifer Lopez and Pamela Anderson launching (their own) wildly successful fashion jewelry collections.
Consumer Confidence Up.
The Conference Board said January 25 that its Consumer Confidence Index, which improved in December after dropping for four months in a row, edged up 0.68% to 103.4 (1985=100) in January.
"Despite the slight retreat in expectations, consumers' short-term outlook remains favorable and suggests the economy will continue to expand throughout the first half of this year," said Lynn Franco, Director of the Conference Board's Consumer Research Center.
Consumers' overall assessment of current conditions improved in January as did their outlook on employment opportunities.
Jewelry Compliance V: Patriot Act in Effect for Diamond Industry.
William D. Langford Jr., associate director for regulatory policy at the U.S. Treasury's Financial Crimes Enforcement Network (FINCEN). has announced his Department's final rules to extend the 2001 USA PATRIOT Act's anti-money laundering (AML) and terrorist-financing rules to dealers in precious metals, stones and jewels. These regulations oblige most businesses or individuals with $50,000 or more a year in gross proceeds to develop a written AML program based on an internal risk assessment. The purpose of this program is to prevent exploitation by those with criminal intent to use our industry to launder illegal funds. There will be a period of six months for companies to come into compliance.
Congress has identified the jewelry industry as a trade susceptible to money laundering. The JVC (Jewelers Vigilance Committee) has worked closely with Treasury and FinCen to communicate the jewelry industry's needs and to develop guidelines to help jewelers develop effective AML programs.
Diamonds Going and Coming
Delgado: Florida Bound.
Mientkiewicz: Say "Shea"
Mientkiewicz brings his World Series ball to Shea Stadium.
We can live vicariously, can't we?
Blue Sapphires
Royal Blue Sapphire
Of all of the precious sapphires, blue sapphires are the most popular and sought after type of sapphire. They have been a part of the jewelry collections of emperors, kings, queens and collectors for many years. Currently, it is the most well known and in demand colored gemstone.
Blue sapphires come in various hues from light blue to a very rich royal blue
Sapphires in various Shades of Blue
Picture Courtesy of Natural Sapphires
Sapphires are mined in many places around the world but few locations produce fine qualities. The most dazzling and beautiful sapphires are mined from the same countries for thousands of years and few new deposits have been discovered in recent times.
The most recognized producer of fine blue sapphires is the country of Sri Lanka; or “Ceylon” as it is known within the trade (Ceylon was the original name of the country. It was changed to “Sri Lanka” upon gaining independence from the British).
The quantity and quality of blue sapphires coming from Sri Lanka is only rivaled by the royal blue sapphires found in Madagascar.
Madagascar Royal Blue Sapphires
Of all of the gemstones used together with white diamonds in engagement rings, blue sapphires may be the most dazzling and exquisite contrast to the icy white look of a well cut diamond.
For this reason, blue sapphires are incredibly popular in 3 stone engagement rings and designer diamond jewelry pieces.
Click on this link for excellent information on precious blue sapphires.
Less Platinum Volatitility in 2005
Johnson Mathey, leading supplier of platinum to the jewelry industry, forecasts more stable platinum prices over the next 6 months after a year which saw prices for this precious metal rise dramatically.
Globally, platinum supply is expected to grow by 4 percent, against a rise in demand of 1 percent, as platinum supplies move into surplus for the first time in 6 years.
Precious Metals: What You Should Know.
Make sure that jewelry containing precious metal(s) is marked in compliance with the law.
The item's karatage must be identified to you in some way (verbally, through signage, etc.) e.g.; 14K, 18K.
___ If an item is stamped to indicate the quality of metal it contains, it must have a trademark in close proximity to the quality mark. (A trademark is a symbol stamped next to the quality mark and may be initials or a logo to identity the make of the item.)
Platinum
Items containing 950 parts per thousand (95%) may be marked as platinum.
Items that are 85% or 95% platinum must be marked with the platinum content. Examples: 900Pt, 850Pt.
Items containing less than 85% platinum must detail the platinum group metal. Example: 750Pt200Irid. Total parts must equal 950 (95%).
Note: Platinum group metals are: Platinum, Palladium, Rhodium, Iridium, Ruthenium and Osmium.
Gold
10 karat gold is the minimum fineness of gold that may be sold in the U.S. Jewelry under 10kt fineness may not be sold as gold.
Jewelry is made of many different types of gold: solid gold, gold plate, gold filled, gold overlay, gold electroplate, gold flashed/washed or rolled gold plated.
Silver
Silver/Sterling Silver means that 925 parts per thousand (or 92.5%) of the item is made of pure silver.
Silverplate describes a product made of base metal and layered (or plated) with silver.
Silver coins contain 900 parts per thousand (or 90%) pure silver.
Fine jewelry is made of either Gold or Platinum. For a more detailed description of the differences between Gold and Platinum, click on this informative link:
Worlds Largest Ruby Ring on Display
23.1 Carat Burmese Ruby (&) Diamond Ring
The Worlds largest and most exquisitely faceted ruby, A 23.1 carat gem, is now on display at the Smithsonian Institution's National Gem and Mineral collection in Washington, D.C.
The dazzling diamond and r