March 2005 Archives
Platinum Day 2005 Comes To New York City
Platinum Guild International USA (PGI-USA) plans its 13th annual Platinum Day Symposium on March 5, 2005, at the Fashion Institute of Technology located in New York City.
Platinum Day is devoted to pure platinum education by top-ranking industry authorities in design, manufacturing, and distribution who will address a wide range of issue integral to current trends including; technical instruction, industry issues, and sales-building tactics.
For the 2005 event, opening key note presentation is titled: The Celebrity Impact on the Jewelry Industry by Carol Brodie-Gelles, global director of communications Harry Winston. Leon Hall, television fashion expert and co-host of E! Entertainment, and Michael O’Connor, senior vice president of PGI-USA will follow Brodie-Gelles.
Many programs devoted to platinum will run throughout the day offering overview information on the platinum market and the high consumer demand for platinum jewelry.
Survey Finds Size Matters in Engagement Diamonds.
The 2003 Bridal Fine Jewelry Consumer Buying Survey found that for most buyers carat size is the most important factor in choosing an engagement diamond.
More than 40 percent of survey respondents said they planned to spend $2,000 or more for an engagement diamond larger than 1 carat. A full 25 percent of those polled intended to pay a minimum of $5,000 to get what they wanted.
But size was not the sole determining factor in making a diamond-buying decision. A third of those surveyed said that Cut was their most important consideration in choosing a diamond.
Round cuts remained the most popular diamond shape, with princess cuts the second favorite among potential buyers, according to the study.
Emerging Jewelry Trends for 2005
The first jewelry show of 2005, held January 16 to 23 in Vicenza, Italy is seen as the jewelry trend setter for the entire year. This show usually predicts the sales season as the mood at this show has often been an indication of how the rest of the year will develop.
Italian jewelry was much in demand.
Foreign countries were well represented by visitors from Turkey, Eastern Europe and China.
In total, there were 21,000 visitors at the show. Compared to last year’s attendance numbers, U.S. buyers dropped by 2 percent. At this year’s show, the U.S. represented 7 percent of the total foreign presence, Japan only up 5 percent and Turkey up 33.6 percent.
In addition to business opportunities, Vicenzaoro 1 2005 featured numerous events and conferences covering the new challenges in the diamond industry, how to protect designs and trademark, future trends, new technologies in gold workmanship and pricing in the precious metals and stones sector.
The trends showcased for this year are light woven mesh and gold ropes which are intertwined extensively with the use of boules and mesh chains and large hoops in three colors of gold — white, yellow and pink. Diamonds embedded in white gold are the more sophisticated jewels, and feature light twisted ribbons and metal threads or create precious motifs alongside colored stones cut in different shapes. This style is often combined onto large rings with modular parts, such as the rings in the “rose bouquet” collection of La Nouvelle Bague. The latter also display a frequent theme that is present on various jewels: spirals.
In contrast to sparkling shapes and motifs, the clean geometric shape is often featured in gems of unprecedented shapes. In the “Athena” bracelet by Talento, a large, asymmetrical amethyst is placed in the center and studded with white diamonds.
Pendants and lucky “charms” have maintained their popularity; they are freely applied in necklaces and bracelets and often complemented by diamond pavé.
Long earrings with pear-shaped stones are very trendy this winter as well as earrings with tiny satin-finished yellow gold parts with embedded diamonds.
Two-tone or tricolor gold's popularity continues in numerous pieces, including those with a modern, geometric clean look, such as the ring by Collezione Privata that uses diamonds to highlight the movement of its asymmetrical plates.
Nature themes are front and center this season,with floral patterns, leaves and various flowers, alternating shiny yellow and processed gold. Flowers are also covered with luxurious diamond pavé and colored gemstones. The best example is the set of “Four Hearts,” “Daisy” and “Gerbera” rings by Palmiero in white or yellow gold with diamonds and various shades of sapphire.
Fancy colored diamonds in cognac, yellow and pink are popular. However, black diamonds, which were very popular the last few years, are now in much less demand.
Ethnic styles are back, bangles and slave bracelets are back in style. These bracelets are made of hollow cane or by electroform so that they appear large, but are very light.
Tiffany's Profits Drop in 2004.
Dow Jones reports today that while the net income at Tiffany & Co. nearly doubled in 2004 due to the company's sale of Aber Diamond Corp. shares, profit margins continued to shrink.
Higher inventory costs in the precious metals and diamonds accounted
for the shrinking profit margins.
Other factors affecting gross margins included a shift in sales toward higher-priced, lower-margin diamonds jewelry; weak sales in Japan; and import tariffs on products manufactured in the United States and shipped to Europe. Pearls were the one category that showed growth
and increasing profits.
Internet Shopping Exploding!
Internet shopping exploded dramatically this past holiday season (2004). VeriSign Inc., a prominent e-commerce network provider, announced that it processed transactions worth $12 billion between November 1 and December 31, 2004, up 88 percent from $6.4 billion during the same period in 2003. Transaction volume grew by 39 percent year-to-year.
Shop the Internet with Confidence.
In its fifth edition of the VeriSign Internet Security Intelligence Briefing (ISIB,) the company attributed the increase to broadband access, the availability of inexpensive goods on the internet, and an increase in trust with Internet security.
Online merchants also reported a drop in the number of transactions they categorized as too risky to complete, down to 6 percent from 7 percent in 2003. Although security continues to be a prime concern for both consumers and merchants, fraudulent transactions only accounted for 2 percent of all purchases.
Countries to watch out for were Romania, Vietnam, and the United States as the top source countries for total volume of e-commerce fraud during the 2004 holiday period while Belarus, Slovenia, and Vietnam were the top countries for internal percentage of fraudulent transactions.
This report by Verisign is confidence-building news for consumers who might still be hesitant in shopping on the Internet. Advanced encryption technology safeguards credit card information provided over the Net and individual companies membership in organizations such as Truste insures safeguarding and confidentiality of your personal information.
"Tsunami" In the Form Of Weak Dollar Hurting Jewelers.
Rapaport Trade Wire reports today that the rapidly sinking U.S. dollar is taking its toll on the jewelry industry. Profits are being squeezed for both jewelry retailers and suppliers and in some cases, merchants are reporting losses on business transactions denominated in U.S. dollars.
Several retailers like Kay and Zales are fighting back by cutting out wholesalers and buying directly from overseas jewelry and diamond producers, thus reducing the impact of the weak U.S. dollar.
This is causing great anger and ill will on the part of suppliers who now find themselves being squeezed out of the supply loop.
As jewelry costs rise, retailers have few choices. They can either raise retail prices or they can cut costs.
Most jewelers opt to cut costs before trying to raise prices. Internally, merchants have several methods of reducing costs including less store-level discounting, repositioning of the product line to higher-profit goods, cutting overhead expenses and having salaried personnel work longer hours.
Externally, jewelers can reduce their costs via direct sourcing with overseas manufacturers. This cuts out wholesalers and other middlemen who add costs.
Raising retail prices is extremely difficult in a highly competitive retail environment. During the all-important holiday selling season, many U.S. jewelers tried to raise the value of their average ticket — in other words, raise prices. However, this strategy proved to be unsuccessful; jewelry demand waned as consumers purchased less-expensive goods.
This problem is further exacerbated by the growing strength of the Internet, which serves to decrease in-store traffic and puts tremendous pressure on Brick & Mortar stores profit margins.
The bottom line is that jewelry wholesalers are being cut out of the pipeline at a rapid rate, and it is not inconceivable that in the very near future the jewelry industry will be dramatically transformed and resemble such industries as consumer electronics, Home centers, and Office supplies.
We are seeing before us the evolution and re-organization of the jewelry industry as Darwin's survival of the fittest takes hold. This "Scopes" trial won't play in Peoria but surely consumers will benefit by the resultant competitive and excellent pricing.
Diamond & Precious Metals Week In Review: 3/4/05
Diamond prices are increasing but soft U.S. is demand providing strong resistance.
Premium and Ideal Cut stones bringing strong prices. Increased demand for fine-cut Princess cuts in the 1 carat to 1.5 carat sizes. Marquises are making a comeback with strong demand for fine cuts. Supply in this area is limited as kost Marquises have been cut for carat weight retention.
Prices for pear and heart shapes firming in larger, better quality goods (2ct+, G+, SI2+). Ovals are holding steady. Oversizes are in limited supply and bringing in premium pricies over straight sizes.
Gold at $434.30, up $7 for the week and Platinum at $876.00, up $10 for the week. Metals are bullish and poised to go higher in the coming weeks as the combination of the weak dollar, rising oil prices, increasing U.S. trade deficit, and the introduction of metals backed metal traded funds make Gold and Platinum very attractive safe havens for money. Jewelry prices will be affected wit expecte price increases.
Musician Harry Connick Jr. to Promote Longines
MARCH 03, 2005-- National Jeweler- -- Musician and actor Harry Connick Jr. is Longines' newest "Icon of Elegance" brand ambassador.
Harry Connick Jr.
"Evidenza" by Longines
According to the Longines Elegance in America Survey, conducted by Harris Interactive, the jazz musician and crooner is one of the most elegant men in the country. The consumer survey, which revealed Americans' definitions, thoughts and feelings about elegance, named Connick as one of the modern embodiments of elegance. As a result, Longines worked out an agreement with the jazz superstar and movie actor to become its newest Icon of Elegance.
"I was surprised to learn that Americans perceive me as elegant. I have always thought that respecting others is really important and treating people with a sense of dignity is a reflection of how you feel about yourself," Connick says.
Diamond Jewelry and The Academy Awards
With the recent Academy Awards ceremony now a blip in the rearview mirror, one cannot help but reflect on the tremendous boom of celebrity endorsements of diamond jewelry by specific designer companies.
It amazes me how so many diamond and jewelry companies are literally tripping over each other in an effort to get the Hollywood elite to borrow their designer jewelry pieces for the Oscars.
Understandably, with the heavy media exposure at this high profile event there is a tremendous marketing advantage to be considered. And while it is certainly true that the Red Carpet at the awards show has traditionally been the showcase for the latest in glamour, elegant dresses and sparkling jewelry; it is also true that many jewelry companies are faced with huge headaches in the days leading up to, and right after the awards ceremony.
It is common knowledge in the diamond industry that Actresses are notorious for choosing to wear a certain designer jewelry piece to the ceremonies, only to change their minds right before the show. Designers don't know until the very last minute if their diamond and jewelry creations will actually be worn on the red carpet. Another huge problem is the very common occurence of jewelry pieces being returned post ceremony in very bad shape and in dire need of repair. I've even heard a few stories from collegues of mine in the diamond industry where expensive diamond jewelry pieces were never returned under the false "assumption" of an "unspoken agreeement" that the jewelry item was a gift in return for the celebrity showcasing it at the event.
The bottom line however, is that these gorgeous diamond treasures created by the likes of Harry Winston and Van Cleef have become as much a part of the Awards ceremony as the Oscars itself and creates a buzz that invariably leads to a hike in consumer demand for fine diamonds and designer jewelry.
Oscars
Celebrities in Their Element
Diamond "Stars" In My Eyes.
Illinois lawmakers are currently debating a bill that could outlaw the practice of surgically implanting jewelry in the eye.
Chicago State Representative Kevin Joyce has sponsored a proposal that will keep doctors from performing the procedure in Illinois, reports The Chicago Sun-Times.
Developed in the Netherlands in 2002, about 100 people in Europe have opted for the procedure, but the practice has taken place just a few times in the United States, according to the Sun-Times.
Proponents of the procedure, which involves placing a metal charm in the mucous membrane that covers the front of the eye, claim the practice is as safe as wearing contact lenses. But some ophthalmologists worry the implants could pose risk of irritation and infection, possibly effecting the wearer's vision.
Wearers can have the jewelry surgically removed if they later choose they no longer want eyeball jewelry.
What will they think of next?
White Gold "Whiteness".
Manufacturing Jewelers and Suppliers of America (MJSA) and the World Gold Council released the White Gold Whiteness Index Monday, providing a standard of color identification for white gold.
The index was designed so that retailers, manufacturers and metals suppliers would have a common standard with which to describe white gold color. It consists of a template containing a seven-sample comparison chart that provides foil patches of controlled color, to help qualify white gold from pure white to off white.
The index, designed as a communication tool within the industry, is the fruit of 18 months of effort by the White Gold Task Force, a team of jewelers, smelters and manufacturers brought together to create a standard reference that can be applied to white gold description throughout the supply chain and around the world.
The Index allows white gold samples, either raw metal or finished jewelry, to be classified as: Grade 1, Good White, which measures less than 19 on the Yellowness Index and does not require rhodium plating; Grade 2, Reasonable White, measuring between 19 and 24.5 on the Yellowness Index, which makes rhodium plating optional; or Grade 3, Poor White, measuring from 24.5 to 32 on the Yellowness Index, and requiring rhodium plating.
While this index is interesting, the fact is that all worked Gold jewelery pieces, no matter how "white" requires some degree of rhodium-plating in the finishing process.
Whats the Deal With Engagement Ring Tension Settings?
Lately, people have been calling and asking about diamond engagement ring tension settings.
Sample of a Diamond Tension Engagement Ring
Our company does not manufacture or carry diamond tension settings, nor do we advocate their usage.
The fact of the matter is that a tension setting engagement ring may be funky and faady, but it will not (and cannot) protect the integrity of your diamond the same way that a 4/6 prong setting will.
It is our opinion, (and that of many experts in our industry) that a tension setting engagement ring poses a great liability to the proper and adequate protection of your diamond. Given just the right knock against a hard surface your diamond will be in danger of popping right out of the setting, never to be seen again! We believe that "adequate" protection is just not adequate (pardon the pun..) when it comes to protecting your valuable diamond.
Therefore, we cannot in good conscience sell tension setting engagement rings on our website and strongly caution our customers against buying one.
As a complete aside, I happen to dislike tension settings from an aesthetic point of view, since I believe that they lack tremendously in elegance. True; they are funky at the moment but will definitely not have the staying power and timeless appeal of the more traditional diamond engagement ring settings.
Diamond Tension Setting Concept: Tension rings are created with special alloys that put anywhere from 65 to 95 pounds pressure on the center diamond. The precious metals are especially hardened by pressure or by thermal treatment. This special treatment to the precious metal results in the precious metal having a certain toughness which will grip the diamond without the need of a bezel or claws. The diamond is pressed by the girdle on each side by the metal of the of the ring. Each metal end has a small groove or concavity called the 'seat' into which a small section of the girdle fits.
Diamond Color or Diamond Clarity?
We get asked this question every day...
A customer is contemplating purchasing one of our Super-Ideal Cut SuperbCert Hearts and Arrows Diamonds, is working within a given budget, has already correctly decided that cut matters most and is now looking to sacrifice a little bit on the diamond specifications.
Diamond Color or Clarity; Which To Choose?
Part of the beauty of maximizing on the precision cut quality of your diamond is the resultant effect it has on the diamonds visual appearance and beauty. A diamond that has been crafted to achieve maximum cut precision will have significantly greater brilliance, fire, and scintillation than a poorly cut diamond which will appear completely dull and lifeless to the eye.
A diamonds color and clarity grade as good or as poor as it may be, will have almost no effect on the diamonds physical beauty or lack thereof.
The most important factor to consider when purchasing your diamond (and unfortunately the least understood of all....) is the diamonds cut quality, which will determine whether you are buying a visually stunning diamond, or a piece of frozen spit the likes of which you will see on Ebay or at your local mall (a.k.a. maul) store.
By increasing the cut quality of your diamond you are ensuring that the diamond will face up eye-clean and completely white due to its incredible brilliance.
This means that you can sacrifice quite a bit (and save quite a bit of money in the process...) on the color and clarity grades of the diamond with the knowledge that your SI clarity, I color stone will be eye-clean (you will not see the diamonds inclusions with your naked eye...)and face up completely white.
Once you have done this, then the question of what to choose vis a vis color/clarity becomes more psychological than anything else, since unlike with poor cut quality diamonds; you will not be able to see the inclusions or coloration in your ideal cut diamond.
Some customers will say o.k., all of this makes sense but how about from the side of the diamond.. in the profile? Won't people be able to detect slight coloration from the side where there is no brilliance to mask it?
My answer to this is #1; once the diamond has been set into an engagement ring setting of 4/6 prongs it will be extremely difficult altogether to view the sides of the diamond which will be obstructed by the prongs. #2 an excellent cut quality diamond will appear whiter from the sides as well. #3 If anybody gets that close to your diamond, that they are now dissecting the sides of your diamond through the ring basket, you ought to alert the police and have them immediately arrested!!
Remember; the diamonds that you are used to viewing in the typical jewelry stores look nothing like a super-ideal hearts and arrows diamond. Comparing the two would be akin to comparing apples to oranges.
The diamond in the jewelry store when taken away from the glare of the high intensity halogen showcase bulbs (...ever wonder why they put those things in there....) will discriminate against lower color/clarity grades and you will definitely be able to see the interanl inclusions and brownish color.
Not so with a Super-Ideal Cut diamond, which will sparkle like crazy in any lighting environment and mask your ability to see the internal inclusions and coloration with your naked eye.
We regularly set our I and even J color SuperbCert Diamonds (SI all the way up to VVS) in precious Platinum (which incidentally discriminates against lower color diamonds more than any other precious metal type) and they face up absolutely white and eye-clean for the savvy consumer who has just saved a small fortune!!
Diamonds & Precious Metals Week In Review: 3/11/05
Gold showing tremendous strength and is surging, now at $443.70, up over $14.00 with target of $455.00 within reach, according to Gold analysts. Platinum steady at $868.00.
Diamond trading markets strong with strong consumer demand outpacing supply for larger, better stones in the 2ct+,I+,SI2+ categories.
Princess, Cushion, and Radiant Cuts strong and better make Ovals gaining popularity.
"Love" Is In The Air
Korean electronic company LG Telecom is offering a pair of special telephone handsets decorated with 24 diamonds, to celebrate the luckiest couples contest. When the two cell phones are placed side-by-side, the diamond design forms the shape of a heart.
The company is inviting 100 couples selected from its subscribers to the White Day party at Grand Seoul Hilton on March 14, 2005, and will award the winning couple with the diamond couple cell phones.
Cute.
Gold Surging!
U.S. gold futures snapped back from an early downturn to reach a 2005 high on Friday morning after a report showed the U.S. trade deficit was wider than expected in January.
Gold is at $446 and a breakthrough past the critical level of $450.00
is expected in the near future.
When You Think of Chile, Do You Think of Diamonds?
I bet you answered No .
South Africa, several other African countries, Israel, Antwerp, Japan, and The United States are synonymous with Diamonds, not Chile.
Well, things are a-changing. Chile will be hosting its tenth international jewelry, watch, and precious stones show, Joya Chile 2005, from May 23-26 in Santiago. The show is dedicated exclusively to importers, wholesalers, retailers, jewelers, designers and other industry professionals and is not open to the general public.
It turns out that over the past ten years, very quietly Chile has signed many bilateral and multilateral trade agreements opening up its economy, so that investors now have access to a market of almost 1.2 billion consumers.
Chile has exempted many countries from paying import taxes on any type of gold and silver jewelry set with stones, diamonds or pearls. These countries include Belgium, Germany, Spain, France, Italy, the UK, the US, Canada, and South Korea.
The Chilean government’s recent discounting of tax on luxury goods, including jewelry, from 50% to 15%, signals the beginning of the end of a highly taxed and regulated luxury goods market. Because of this new deregulation, jewelry consumption will increase significantly and formal jewelry imports should climb 20% annually.
Most importantly, this step by the Chilean Governement to open up it's markets in this sector of the economy will no doubt to further deregulation, open markets, and increased commerce.
Good to see.
Diamond & Platinum MP-3 Player!
The CeBIT 2005 technology fair in Hannover, Germany is proving to be a hit with techno geeks who also love their Diamonds and Platinum.
A hit product with attendees is Samsung Corp.'s platinum and diamond MP3 player. Samsung intentionally created the pocket-watch size, 12-diamond music player for those with $1,000 to spend. MP3 players typically cost from less than $100 to $300 depending upon the features.
Besides Samsung's diamond decoration, the player features up to one gigabyte of memory as well as an FM radio and stereo surround sound. With the platinum and diamond exterior, this MP3 player is not likely to be left unattended by its owner.
CeBIT concludes March 16 in Germany, and holds a number of events worldwide during the course of the year.
Diamond Rules Of Engagement
A recent study conducted by the Knot surveyed 1,500 brides to discover what they would consider to be the perfect proposal. The results show that some old traditions are begining to change.
1. Center Stone Size
Sixty percent of women value the diamond size as either most important or equally imortant to diamond quality, while 32 percent say that quality comes first. Twenty-five percent prefer 3 stone rings, while 39 percent say that a solitaire diamond engagement ring is just right.
2. Popping The Question
Over 70 percent believe that the element of surprise is crucial to an ideal proposal, while 20 percent think that it is only moderately important. As far as the location is concerned; 19 percent of brides like landmarks, 14 percent prefer a vacation spot, 13 percent prefer to be asked at home, 13 percent prefer the site of the first date, and two percent like the idea of a proposal flashing across a giant Jumbotron in a sports stadium.
3. Parents
More than 50 percent of the women polled say that it is no longer necessary to ask the brides father for her hand in marriage. However, 47 percent would like the groom to ask the brides father, and an additional 21 percent say grooms should also seek the blessing of the brides mother.
4. On Bended Knee
Forty-six percent believe that getting down on one knee is still crucial to the proposal, while 44 percent say that it's preferable. Just one of 10 brides think that the idea is outdated.
5. Ring Settings
A man who wishes to surprise his bride with a diamond engagement ring should be safe and buy a round or princess cut diamond, say the brides. 50 percent prefer the round diamond and 31 percent like the princess diamond. Grooms should also stick to white metals-86 percent of brides prefer precious platinum or white gold for their engagement ring setting. As far as ring styles are concerned; 50 percent like classic or traditional styles, 27 percent prefer contemporary designs, and 25 percent would like a vintage or antique style engagement ring setting.
Same Diamond, Different Internet Sites; What's Up?
I Just Saw a fantastic response from my Dad on a thread on one of the diamond discussion forums where a consumer asked the following question:
"Hello,
New diamond seeker here. I just purchased a princess cut from Mondera 3 days ago (hasn't shipped yet). Then doing some more looking around today I found that the EXACT same diamond (same cert.) is for sale on 3 other sites. And one is selling it for almost $100 cheaper!
So do all these sites have the same supplier? What are the chances that Mondera will cut down my price if I call them and ask them about it? Thanks for any responses".
Before I give you the link to this thread so that you can read it in its entirety, I think a brief overview on "Virtual Diamond Listings" is in order:
Drop Shipping has enabled websites to give themselves the appearance of a fully stocked retail store, without the costs, or proper knowledge/know how associated with a running a "Bricks and Mortar" (retail store) establishment.
More recently this concept has reached into the diamond industry so that there are now diamond vendors selling "virtual diamonds", or VD diamonds, from various wholesalers that are shipped directly to the end consumer without ever passing through the vendor first. Many of these vendors know absolutely nothing about diamonds and just decided to create an online business for themselves by opening up a virtual online diamond store.
They tack on the databases of diamonds from various wholesale companies, making sure to add a healthy markup for themselves. The unsuspecting customer goes ahead and purchases a diamond off one of these lists which subsequently gets shipped out directly from the Mfgr. facility to his address.
Holy %&#@!!*&!
Where Do I Sign Up!!!
... H'mmm, I think I'll Sell Diamonds!
The problem with this approach is the lack of knowledge, diamond information, accountability, and service on the part of the vendor which all too often results in terrible "buyers remorse" where a diamond was not quite as advertised and the customer has nobody to turn to.
Our Company does not sell virtual diamonds, period. We are a fourth generation owned and operated diamond manufacturing company and only sell our own exclusively manufactured SuperbCert Diamonds which are all physically here in our possession, and can be viewed either online, or in our N.Y.C. diamond showroom and offices.
To read this incredibly important discussion on virtual online diamond vendors, click here.
What The Heck is a Diamond Cutlet?!!!?
It happens every so often; I'm speaking to a customer about diamonds and he/she asks me about the "Diamonds Cutlet".
It takes all of my energies not to laugh, understanding that it is an honest mistake from a novice.
What really gets me though, are the saavy and educated consumers who call us to talk about our SuperbCert Super-Ideal Hearts and Arrows Diamonds, or the ones who sometimes post on the diamond forums.....
....These guys have really done their homework and armed with knowledge of all the diamond "numbers", BrillianceScope results, Sarin/MegaScope they are ready to tackle the world. They start talking about all of the intricacies of the diamonds cut, angles, et. al.
Then they mention the diamond's "CUTLET"
WHAT????
And I'm thinking to myself; oh.. you must be referring to this:
Diamond Cutlet???!!
The truth however, is that the blame lies with us people in the diamond trade for not correcting this mistake when it happens.
So with that in mind, I'd like to slow down a bit and get back to the basics of a diamonds properties. At www.exceldiamonds.com, our primary objective is to help empower our diamond customers with knowledge on all aspects of a diamond's cut precision and light performance.
The illustration below shows the basic properties of a 58 faceted round diamond, including the diamonds "CULET" (Pronounced Kewlet) on the bottom!
I hope this helps
U.S. Jewelry Purchases Increasing
Half of all American consumers purchased jewelry or watches in 2004, says a new study by market research firm Research and Markets, spending $57.4 billion on jewelry last year, 6.9 percent more than in 2003.
The study, "Jewelry Report 2005 Update: The Who, What, Where, How Much and Why of Jewelry Shopping," finds that women in their twenties to fifties with higher incomes represent the core target market for jewelry.
The study examines trends in both fine and costume jewelry markets for women and men. Within the fine jewelry segment, it includes information about the types of metals and gemstones used in the pieces.
Data about the types of jewelry available is also offered by the study, along with the motivating factors for male and female jewelry purchasers. The study also examines where consumers choose to purchase their jewelry, indicating significant sales increases for Internet Vendors.
St. Patrick Day Parade Outside My Window!!
Help!!!
I cannot hear myself think!!
If you call our offices today looking for a diamond, don't think that we employ a full time band playing music in the background.
What you are hearing is the St. Patrick's Day Parade going on right outside my window. (We are located right off 5th Avenue in the N.Y.C. Diamond District)
Our Diamond offices and showrooms are located high above the street. However, this does not diminish the tremendous amount of noise filtering into our offices from down below.
I hope everyone has a great time today, but for the sake of my sanity I hope the parade ends soon.
Oh... and if you happen to be jealous of my excellent view to the parade; don't be.
This is what I've got to look at:
See any familiar faces???
Diamonds & Precious Metals Week In Review: 3/18/05
Trading markets remain very strong with prices remaining very firm in larger, better Cut Diamonds. Rounds, Princess Cuts, and Aschers in high demand.
Gold at $440.00 and Platinum at $880.00 remain steady.
Check Out This Diamond Studded Computer!!
Over the last few weeks we have pointed out a new trend on this blog where round diamonds are being used in everything from mp3 players to cell phones.
Here is a new one for you:
Tulip computers is introducing a diamond studded laptop computer which features round brilliant diamonds set pave style in precious palladium. Here is a picture:
New Meaning to the Expression; Married to My Computer!!
The price for this computer??
$380,000
I think I'll take two!!
Biggest Polished Sapphire Ever Recorded!!
I just found an amazing article regarding a collector who has in his possession the worlds biggest polished sapphire!!
Here is the link.
Decrease in Diamond Rough Supply.
Reports indicate that BHP Billiton Mines company has raised its prices by 8 percent. The reported increase is a result of the lower diamond output by Ekati, BHP’s only diamond mine, in a very strong rough diamonds market. Ekati produced 4.1 million carats for the year ended December 31, 2004, a decrease of 27 percent from 2003.
Beware of Unethical Diamond Dealers!
I'm always amazed when I hear the horror stories that happen to so many unsuspecting diamond shoppers who are conned by the snake oil salespeople in many of the jewelry stores who try and convince them to buy their inferior (commercial) quality diamonds with almost no information???!!
Many of these diamonds have "diamond grading certificates" created on official looking stationary by the guy in the back office who almost arbitrarily attaches any color/clarity grade combo. he likes...it is simply unbelievable.
These same salespeople get so intimidated when customers who have educated themselves on the internet walk in and ask specifically for a diamond MegaScope Report and BrillianceScope Report. They try and convince the customer that this is all "marketing hype" etc.
Pretty much "par for the course" considering the kind of poor quality merchandise they are selling and their attempt to grab a sale at all costs.
However a story I heard today from a customer really takes the cake and sets a new standard even for these guys:
Would you believe that a customer was looking at a diamond in a mall (a.k.a. maul) store jewelry operation (a name you would instantly recognize if I mentioned it..which I wont for obvious reasons..) and asked why the diamond didn't have a recognized and independent grading certificate/report from a respected lab like GIA or AGS? (The specifications of the diamond were listed on an "official company card"...no other info. was available.)
What does the salesperson say....?
He says; "Oh there really is no need for a GIA report, our full time in house gemologist is a GIA graduate so it amounts to the very same thing??!!!
Can you believe this???!!
It's a few hours later and I'm still steaming...
...Had to get this off my chest!
"Have I gotta deal for you"!!
DeBeers Launching Value Added Services for It's Diamond Siteholders.
The Diamond Trading Company (DTC) aka DeBeers has launched its new "Value Added Services" (VAS) program, a series of marketing and planning initiatives to support sightholders and help them grow their businesses.
An objective of DTC's new program, according to a release issued Tuesday, is to support one of De Beers' top strategic goals over the next four years: to remain Supplier of Choice to their clients and fuel consumer demand for diamonds.
"These services will go beyond anything provided by any other diamond supplier, and are designed to help our clients to drive a new and exciting growth phase for their businesses," DTC Managing Director Gareth Penny said in the statement.
The VAS program will be comprised of core services and growth services with the aim of growing sightholders' businesses through a series of benefits, according to DTC. The program intends to help sightholders by providing a more stable business planning environment, encouraging them to participate in global marketing campaigns, amplifying the prestige associated with being a DTC sightholder, furnishing access to marketing insights and expertise from the DTC and connecting sightholders with a personal DTC key account manager.
For a fee, DTC sightholders can utilize core services, to feature supply planning tools including: continuity of supply for two and a half years, intention to offer, consistency of boxes to a defined profile, client extranet service and dedicated account management service. With the tools, DTC says it will provide business sustainability measures free to sightholders, such as consumer confidence programs and generic demand generation.
The growth services component of DTC's VAS program is be available to sightholders on request, and will feature seminars on growth opportunity, workshops about market insight, generic advertising materials and seminars on how to excel in business.
Eduard Gubelin
Leading gemologist and authority on inclusions in gemstones Eduard J. Gübelin died March 15, one day short of his 92nd birthday.
Gübelin was born to a watchmaking family in 1913, and joined his father's business at an early age. He became involved with gemology after his father started a gemological laboratory in Lucerne.
An authority on inclusions in gemstones who was ell-known for his research, Gübelin authored many publications including Internal World of Gemstones: Documents from Space and Time, a work that showed how gemologists could determine the source of stones based on their inclusions.
"While his death saddened me greatly, no one who knew him can feel anything but joy," said Richard R. Hughes, of the American Gem Testing Laboratory, in a statement. "Eduard Gübelin was the father of modern gemology. We are all his children."
South Africa Diamond and Gold Miners Strike Spreads
The weak dollar continues to spell bad news for South Africa miners as a strong rand eats away mining profits reliant upon the dollar. Free State province gold mine workers went on strike to protest Harmony Gold Mining Co.'s plans of issuing up to 5,000 pink slips. DRDGold Inc., decided to close unprofitable mines, which would eliminate 6,000 more jobs.
Job cuts have grown more numerous in the past two years. DRDGold laid off 3,000 workers in 2004, and Harmony cut 8,000 jobs after announcing only 5,000 planned cuts mid-year 2004.
Unions warn of more layoffs in mining industry, with diamond miner De Beers among those issuing notices. Earlier in the day on March 23, South Africa labor unions lead by the National Union of Mineworkers announced it would work towards negotiating a 10 percent hike in wages during April bargaining sessions.
Long-term outlook for the dollar-to-rand exchange is little or no change. Bloomberg business news expects 5.90 rand to the dollar on average for all of 2005. On March 23, mid-day 6.07 rand bought $1.
In 1987, miners in South Africa walked-off their jobs for three weeks and 1 in 10 workers permanently lost their job.
Consolidation in the industry continues with prospects of future price increases looming.
"Good Friday" Diamond Robbery on 47th Street.
Manhattan police are on the hunt for gunmen who made off with at least $5 million in diamonds at Diamart Inc., 55 West 47th Street in New York City.
Two men identified themselves via intercom as deliverymen, and were allowed to enter the building shortly after 12 noon March 25th. The men put on masks, pulled handguns, and looted the business, and then they walked out of the building.
One man is approximately 5 feet 8 inches tall, the other is about 6 feet tall.
No suspects yet.
Rising Inflation and Oil Prices May Curtail Diamond & Jewelry Buying.
Markets in the United States closed in observance of Good Friday after a week of sour news about inflation and the job market. The DOW closed down 13.15 at 10,442.87 on March 24. The U.S. Labor Department reported consumer prices rose 0.4 percent for February, for an annual inflation rate of 2.4 percent, the highest spike in 33 months.
The weak dollar makes imports more expensive, oil prices remain at record high levels, and commodity price pressures are blamed for inflation concerns.
In the New York City metropolitan area, the consumer price index for the 12 months ending in February rose 3.9 percent, and core inflation was up by 3.4 percent. In comparative dollars, it would cost about $21 to purchase what would cost $10 in year 1984.
The states of California, Wisconsin, Kentucky, and Illinois have reported an increase in unemployment claims from March 2004. Weekly claims ending March 19th rose to 324,000 nationally, which was more than expected. Using the Labor Department's less volatile, adjusted, four-week average, the number of claims fell 5 percent from February 2004 to 321,750.
The Federal Reserve increased by one-quarter-point short-term interest rates, the seventh increase since June 2004. The hike will trigger higher rates for loans and lines of credit. Fixed-rate 30-year home loans rose to 6.01 percent, up from 5.4 percent in March 2004.
This situation may redirect consumers to Diamond purchases of smaller carat sizes during the upcoming Spring-Summer Gift-giving, Engagement, and Wedding Season.
Amid Declining Sales, Is Tiffany's On The Block?
Luxury retailers Coach Inc., and LVMH have been mentioned as possible buyers if Tiffany & Co., should decide to sell the firm, a report in Barron’s said on March 28. The report said that Tiffany shares could move up by as much as 25 percent or more if the company were to sell -– or put right its financial problems, including declining sales in Japan.
Tiffany has struggled for three years with weak sales at its stores in Japan and high precious metal costs. The continuing problem has forced the company to cut its earnings forecasts for 2005.
Japan accounts for almost a quarter of Tiffany's sales and is its second-largest market after the United States. Comparable store sales fell 8 percent in Japan in 2004 after adjusting for currency fluctuations, following declines of 3 percent and 8 percent in 2003 and 2002 respectively. In February Tiffany reported its fifth consecutive decline in quarterly same-store sales in Japan.
Tiffany has encountered the same problem that retail giant Wal-Mart Stores Inc., has in Japan –- that Japan's consumers are not always attracted to low-priced products. Bloomberg reported on March 23 that Tiffany is revamping its strategy in Japan, adding more expensive items and refurbishing stores. It will offer more gold jewelry and pieces with a price tags of at least $2,000 in Japan after demand flagged for silver items. The company said it may also open more free-standing stores after boutiques in department stores didn't perform as well.
For some reason, "Breakfast at Coach's", just doesn't have the same panache.
Have Wrench, Will Travel; Also do Notary.
This entry is a bit far afield ( no doubt very far afield) for us at Diamondvues.com, but every once in a while it's good to survey the American landscape a la the late Charles Kuralt of CBS News, and see what's going on in the highways and byways of America.
Today we bring you Naked Dan, Handyman and Plumber working out of St. Petersburg, Florida. Handy Dandy comes to your home to do your plumbing repairs stark naked with nothing on except his toolbelt. You must sign a contract that you will stay far away from him and be very careful with your language.
Naked Dan; Plumber, Handyman, and Notary Public.
Dan is planning on adding Butler and Maid services very soon to his
inventory of services.
His website is here: http://www.nakedan.com/
Dan; just a word of advice: Be careful with that wrench.
Piaget Watches; The Picture Of Elegance
Every time I see a Piaget Watch, I literally get the chills!
Their breathtaking timepieces incorporate a fusion of high horology, precious metals, and aesthetic brilliance.
Here is a sample of one of their gorgeous watches.
Bold and Beautiful!
You can visit their website at www.piaget.com
DeBeers To Share Mining Technology
De Beers has offered to share advanced technology with ALROSA to mine in the diamond rich Yakutia region of the Russian federation. Currently, De Beers is implementing a diamond prospecting project in the territory of the Luga district located south of St. Petersburg. De Beers is also working on a project that would yield industrial diamonds in Verkhotina, in the Arkhangelsk region of Russia.
In an interview with the Itar-Tass news agency on March 30, De Beers managing director, Gary Ralfe said that De Beers intends to invest in prospecting and recovery of diamonds in Russia and not limit itself to trading.
Ralfe meet with a group of Russian Duma deputies –-representatives of the lower house leading pertinent committees-- at his Johannesburg office on March 29. The Russian parliamentarians are on a South Africa visit to familiarize themselves with the activities of De Beers and legislative control of the extraction, processing and turnover of mineral raw materials.
Mikimoto Pearls and GIA Team Up For You.
With a $120,000 donation Mikimoto (America) Co., Ltd. has established the Mikimoto Pearls Course Scholarship at the Gemological Institute of America (GIA).
Starting in 2006, the program will provide 10 scholarships to Distance Education students each year, GIA announced Friday. Mikimoto America President Mitsuhiro Mitsui,, said he was honored to establish the first-ever pearls scholarship to make the GIA course available to more people, particularly retail sales associates. In recognition of the gift, Mitsui will be inducted into the League of Honor at GIA's annual dinner on Sept. 19 in New York.
"We value GIA as the industry leader in education," Mitsui said in GIA's release. "Mikimoto is always expanding its training in the quality of pearls, so we look to GIA for teaching what we value the most—quality."
The Pearls course covers GIA's seven Pearl Value Factors (size, shape, color, luster, surface quality, nacre quality, and matching) among other key topics, all of which help set industry guidelines, according to Robert Artelt, senior vice president of retail and marketing for Mikimoto (America) Co., Ltd.
GIA and Mikimoto have previously worked together to resolve industry issues. During the 1990s, researchers from both organizations studied unusually large (10+ mm), near-spherical, freshwater cultured pearls from China that were causing many to question their nucleation process, which the two organizations ultimately concluded was traditionally created.
"Mikimoto's longstanding dedication to the Institute and to the quality assurance of cultured pearls aptly culminates in their new Pearls course scholarship opportunity," said GIA President William E. Boyajian. "By supporting GIA's efforts to teach many more in the industry about cultured and natural pearls, Mikimoto is helping us uphold our public service mission."
Mikimoto previously gave GIA $500,000 to help build the Institute's world headquarters in Carlsbad. The Mikimoto Rotunda was named in its honor.
The History of the World Famous Cullinan Diamond.
Beautiful loose diamonds and diamond engagement rings have captivated people for centuries! One of the most famous loose diamonds is the Cullinan Diamond.
Willem Prinsloo, owner of the Elandsfontein farm in South Africa, discouraged prospectors from exploring on his property. He was, in fact, famous for discouraging prospectors. After Prinsloo’s death, Thomas Cullinan, a Johannesburg building contractor, purchased the farm. He bought it for 52,000 British pounds and registered the Premier (Transvaal) Diamond Mining Company Limited on December 1, 1902; mining on the farm began immediately thereafter. The Premier Mine was one of South Africa’s most productive, employing more than 2,000 people by the end of 1904.
The Discovery
As the sun was beginning to set on Thursday afternoon, January 26, 1905, Superintendent Captain Frederick Wells was making his daily inspection. A crystal caught light on the shaft wall; it was only nine meters from the surface. Thinking the miners were playing a joke, Wells took it for a piece of broken glass and pried it out with a pocketknife. The crystal weighed 1.5 pounds, was 37/8 inches long, 21/4 inches wide and 25/8 inches high. Wells was sure it was worthless…well, almost sure. So he sent it to be analyzed. It turned out that the uncut stone was a perfectly clear and colorless diamond weighing 3,106 carats and was twice the size of any other diamond ever found. There is talk that the stone was originally much larger; experts surmise that since one side of the crystal was smooth the stone was cleaved by natural forces. Named for Cullinan, the diamond was sold to the Transvaal Government for 150,000 pounds and Wells received 3,500 pounds as a reward.
The Cullinan In The Rough: 3106 carats.
The Cullinan In Pieces.
The Prime Minister of Transvaal, Louis Botha, suggested that the diamond be presented as a gift to King Edward VII. Due to lingering rancor after the Boer War, the gift did not sit well with Parliament, which only voted 42 to 19 in favor of its acceptance. After much debate and at Winston Churchill’s urging, the king accepted The Cullinan. In gratitude, Churchill was presented with a replica of the diamond; he enthusiastically displayed it to friends, sometimes exhibiting it on a silver platter. The Cullinan was presented to the king on November 9, 1907, for his 66th birthday.
Cutting
How The Cullinan was to be cut was of primary importance because the stone’s greatest value was in the number of stones that could be produced. The firm I.J. Asscher and Company of Amsterdam was chosen for the task. For three months, Joseph Asscher February 10, 1908, at 2:45 pm, Asscher prepared himself for the greatest responsibility of his professional career — cleaving The Cullinan. Placing the cleaving blade at the prearranged point, he gave it a blow with his hammer. Snap…the blade broke. The stone was unharmed; it had not even moved. Another blade was quickly procured and Asscher struck the stone again. This time it split perfectly, just as he had hoped. Amidst cheers, shouts and pats on the back for a job well done, Asscher fainted.
Now there were two stones, weighing 1,977.50 and 1,040 carats, respectively. Additional cleaving produced nine major stones, 96 brilliants and 9.50 carats of unpolished pieces. The total weight was 1,063 carats; there was a 65 percent cutting loss. King Edward VII was given the two principal stones and he purchased an additional stone, the sixth Cullinan “chip” for Queen Alexandra, which weighed 11.50 carats. The rest of the diamonds were retained by the Asschers as compensation.
The pear shape, a 530.20-carat diamond commonly known as Cullinan I, but also known as the Star of Africa, now resides in the Tower of London and is set in the British royal scepter. Cullinan II is a massive 317.40-carat cushion-shaped diamond that sits in the center front in the band of the Imperial State Crown of Great Britain. These jewels were specifically used for the coronation of King George V on June 22, 1911.
Cullinan "Star Of Africa" 530.20 Carats!
The stones that were in the possession of the Asschers were eventually purchased from them and presented to Queen Mary on June 28, 1910. In 1910 Queen Mary set Cullinan III and Cullinan IV, known as the Lesser Stars of Africa, into a brooch. Cullinan III, a 94.40-carat pear drop, hangs from Cullinan IV, a cushion-cut diamond weighing 63.60 carats. Always impressively arrayed, Queen Mary would also hang the Cullinan I as a pendant from the Koh-i-Noor brooch.
Cullinan III and IV.
As for some of the other Cullinan diamonds, Queen Mary had the Cullinan V, an 18.80-carat triangular-pear shape mounted in a platinum brooch with the silhouette of the design echoing the shape of the stone. The brooch was part of a very large stomacher that includes the legendary Cambridge emeralds, which the Queen received in 1910; each element of the stomacher can come apart and be worn as a separate brooch. Queen Elizabeth II frequently wears the Cullinan V brooch.
The Cullinan VII is an 8.80-carat marquise diamond, which Queen Mary added as a pendant to the 6.80-carat oval cushion Cullinan VIII brooch; this brooch was created at the same time as the Cullinan V. A photograph from 1919 shows Queen Mary wearing a platinum diamond pendant and chain that incorporates some of the 96 smaller Cullinan stones. Although she inherited the necklace in 1953, Queen Elizabeth II has never been known to wear it in public; the queen says, “It gets in the soup.” The Cullinan IX is a 4.39-carat pear, which was placed in an engraved ring presented to Queen Mary. It now belongs to Queen Elizabeth II.
Cullinan VII and VIII.
The Cullinan II Diamond. The two tiny platinum loops on the edges allow the stone to be worn as a brooch, alone or with the Cullinan I
attached. However, it usually resides in the front of the Imperial State Crown.
