April 2006 Archives
Hearts On Fire To Replace The Dog with Diamonds, As Man's Best Friend.
Don't tell the family dog, but Hearts on Fire is making a bid to replace a man's favorite canine companion with diamonds.
The company announced that it is challenging the notion that custom diamonds are only gals' best friend by introducing a loose diamond program aimed specifically at men. The new platinum collection, "Distinguished," offers rings, bracelets and cuff links as semi-mounts for diamonds of male customers' own choosing.
"Men are wearing more and more diamond jewelry, and are demanding more of a selection, much like women have," designer Katherine Rosenberg-Pineau, Hearts on Fire vice president of product development and merchandising, said in a release. "Why shouldn't men be able to select the diamond of their choice, too? The 'Distinguished' collection offers this."
In platinum, the collection retails from $5,900-$20,000. Hearts on Fire touted Olympic Gold medalist Apolo Anton Ohno in its release, who wears the brand's "DreamStone Talisman" around his neck. It retails for $16,000.
Lose Your Engagement Ring, Diamond Ring, Wedding band? Try This Internet Lost & Found Website!
The Associated Press today reports an item of interest: There is now an Internet Website where you can post your lost Engagement Ring, Diamond Ring and Wedding Band.
Maureen Silliman felt her empty pocket and gulped: Her new $300 iPod must have bounced out as she ran to catch a train.
While she sobbed, her boyfriend suggested a message on the lost-and-found section of Craigslist, an online bazaar of classified ads.
"No," the 24-year-old Silliman said. "Nobody would ever turn in an iPod."
Her boyfriend posted the message anyway. Within 24 hours, Silliman's iPod was back.
In an increasingly cynical world, there are still places where people try to do the right thing. Everyday on Internet message boards, honest folks post notes about valuables they found: cash, bank cards, diamond bracelets, engagement rings, wedding bands, digital cameras, and even a cockatoo valued at $1,200.
In turn, when there is no place left to look for something missing, the desperate sometimes take the longest of longshots and look online themselves.
Occasionally, it works for both sides. People such as Silliman get back their iPod, still loaded with Radio Head and Broken Social Scene.
The impulse to be honest doesn't surprise Lawrence M. Hinman, the director of The Values Institute at the University of San Diego.
"I think we perceive ourselves as being much worse than we actually are," Hinman said. "There are people who live lives of quiet honesty."
Take Monique Peddle, 48, in Hollywood, Fla., who posted a note online when she found a diamond studded gold bracelet that she could have just as easily slipped quietly in her pocket.. Or Blake Facente, 30, who also turned to Craigslist when he discovered a Dell Inspiron laptop leaning against his building in San Francisco.
The same for Agnes Satoorian, 27, who climbed into a cab in Boston last month and found a pricey digital camera that another rider had left behind.
"I know that pain," said Satoorian, who had recently lost her own camera loaded with sentimental pictures. "I decided I would try to make it right for someone."
Craig Newmark, the namesake and founder of Craigslist, said that the company added the lost-and-found message board in March 2003 after they noticed a proliferation of people looking for things that they were missing.
"The culture of trust is key, and the fact is that we work really hard at that," said Newmark, 53, who now has Web sites in 190 cities that boast more than 10 million users a month.
That means everyday there are new lost-and-found posts. Like the drawer in a school secretary's office where missing scarves wait to be claimed, the message boards accumulate a disparate collection of goods.
Some are outlandish.
The three teeth -- including a molar with a filing that needed replacing -- pick up in downtown Honolulu. The $100 bill found on a sidewalk on the Las Vegas strip. The man in Copenhagen who lost his ex-wife. Or the New Yorker who misplaced her clean-shaven cowboy and implored: "If found please send him to Queens."
In the lost column in Dublin, Ireland, a post under the heading, "$1 Million US reward," has a link to the FBI's Ten Most Wanted poster for Boston fugitive mobster James "Whitey" Bulger.
"I just want him caught," said the post's author, reached through e-mail, who declined to elaborate or give his name.
Other posts are authentic, and even touching.
The 39-year-old woman in Frankfurt, Germany, looking for her birth mother (Bridgitte Siglinde Stolba). The Homestead, Fla., mother searching for a lost dog named Sparky that detects her 17-year-old epileptic son's seizures and barks for help. The 1-carat diamond engagement ring that slipped off a woman's finger in the hills outside Berkeley, Calif.
Success of the Lost and Found is difficult to measure. Craigslist does not track its sites, and the free posting are only valid for 30 days.
But as stories about triumphs like Silliman's iPod circulate, more people keep playing the odds.
Last Fourth of July, scuba diver Stephen Klink found a solid platinum men's wedding band buried in sand beneath 30 feet of water off Cape Cod. Klink, 36, recently posted a note on the Boston-area Craigslist.
"It's a long shot, but I figured it's worth a try," Klink said from his home in Hillsdale, N.J. "Some married guy somewhere is getting whopped on because he lost his wedding ring."
Gold Price Knocking at $600 Door.
In spite of some profit taking on Friday, Gold is on the verge of hitting $600/oz.
U.S. precious metals futures fell slightly on Friday morning as commodity funds and speculators cashed in on gains after a blistering rally on Thursday, market sources said.
Gold hit a 25-year high before retreating, and silver also slipped back, though it still was close to a fresh 22-year high and within sight of the $12-an-ounce mark.
Palladium, the most illiquid of the metals group, sank nearly 6 percent before steadying and platinum slid 2 percent, retreating from an all-time peak atop $1,105 an ounce.
Investors have piled into gold and other hard assets to benefit from booming commodities markets and also as a store of value amid worries over the economy and geopolitics.
"Precious metals registered further gains in Asian trading overnight, but profit taking and selling from investors and macro funds has made inroads," analysts at UBS investment bank said. "A volatile day appears likely, given it's quarter and month end."
Dazzling Diamond Watch
Put on your sunglasses before you ask her for the time.
Women have changed and it is reflected in their tastes and expectations in watches, observes Janek Deleskiewicz, Jaeger-leCoultre's artistic and design director.
And what they seem to want is more bling bling, if the Reverso Duetto Duo and Lady Jewellery are anything to go by.
Like the original, the Duetto is targeted at the busy jet-setting woman with “timezone leaping lives”, as the Jaeger-leCoultre spiel goes. Hence, it offers local time on the front dial and a second timezone on the back.
The additional sparkle is for added “glamorous expression”, explains Deleskiewicz.
“The size has changed (the case is bigger) and the setting too with 64 diamonds,” he added, which is double the number of the old Duetto which he designed in 1997.
“That’s because we have diamonds on both faces. In the past, women didn’t want to wear their Duetto with diamonds all the time (so there were only 32 diamonds on the second dial). But now they expect it because fashion has changed – you see jeans with silk, leather for all sorts of different styles, inner clothes become outwear....
“To me, women are saying: This is my personality and my life and I’ll wear diamonds any time I want because I am responsible for myself.”
Deleskiewicz has also further feminised the Duetto by setting the art noveau floral numerals on a delicate engraving of sunrays.
All that prettiness takes nothing away from the solid technology that drives the watch. The back-to-back dials with a double set of hands, turn in opposite directions, driven by the same Jaeger-leCoultre 854 mechanical movement set in 8-carat pink, yellow-or white-gold case of exquisite craftsmanship.
For the Lady Jewellery, 28 diamonds in two lines adorn the first dial where blue-steel hands sweep over floral numerals replacing the plain, more masculine numerals of the earlier Reverso Lady.
Since the reverse side of the case is plain, the wearer can personalise the space with a wide choice of engravings.
Diamond Ring Doesn't Fit, Charity Benefits.
She paid almost $5,000 for a diamond ring that doesn’t fit, but Ann Schmitt of Centerville, Ohio is delighted just the same.
“It’s an absolutely beautiful ring and I’ll love wearing it,” Schmitt said after winning the 1.52-carat ring at a silent auction Saturday at Fair Exchange Jewelry, 43 S. Main St. The auction benefited the Salvation Army.
Schmitt called herself “really frugal,” not impulsive, but the story behind the ring, featured in a Dale Huffman column March 23, inspired her.
The ring was dropped in a Salvation Army kettle Dec. 26 outside a Kroger store in Springboro. It was accompanied by an unsigned note, which read in part, “My prayer is that God will bless you and that you will receive great dollars for this ring so that you can help many, many people.”
The Salvation Army worker who discovered the ring, Kathy Sizemore of Franklin, put the ring up for silent auction, figuring she could get more money for the Salvation Army that way than a pawn shop might pay.
The minimum starting bid for the ring, appraised at $6,200, was $3,500. Schmitt started at $4,400 and beat out two other bidders before landing the ring for a little less than $5,000. She declined to disclose her final bid.
“I got a good deal,” the mother of two grown sons said with a smile that wouldn’t stop. “I figure I’ll wear it or one of my sons will get it when he decides to get married.”
Sizemore, a Salvation Army volunteer for six years in the Springboro, Carlisle and Franklin areas, seemed equally pleased.
“I’m extremely thrilled,” she said. “This money will help pay rent, utilities and for a lot of prescription drugs” for the needy.
Gold to Go To $600 As Investor Switch from Bonds.
Gold may top $600 an ounce this week for the first time in 25 years as investors buy bullion instead of U.S. bonds, a Bloomberg News survey shows.
Nineteen of 30 traders, investors and analysts surveyed from Sydney to Chicago on March 30 and March 31 advised buying gold, which gained $21.20 to $586.70 an ounce last week in New York and rose again today. Seven advised selling and four were neutral.
Gold rallied 13 percent since Dec. 31, outperforming the 3.7 percent gain in the Standard & Poor's 500 Index. Holders of the benchmark 10-year U.S. treasury lost 2.8 percent. Gold held for exchange-traded funds linked to the price of the metal grew about 28 percent in the first quarter, reaching 14 million ounces, said the producer-funded World Gold Council in London.
``It's going to $600,'' said Duncan Cruickshank, an analyst at Commodity Warrants Australia Pty in Sydney. ``People are piling in. People will make money even if they buy at these levels.''
The 3.7 percent gain in gold last week on the Comex division of the New York Mercantile Exchange was predicted by a majority of analysts surveyed March 23 and March 24. The Bloomberg survey has forecast the direction of prices accurately in 61 of 101 weeks, or 60 percent of the time.
"Diamonds Are For Ever", But Are Diamond Mines?
Cramer's Mining Weekly reports that the slogan "Diamonds may be forever", but the same cannot be said of diamond-mines.
While De Beers Consolidated Mines (DBCM), the largest producer of diamonds in South Africa, produced a record 15,2-millioncarats last year, it estimates that it will produce just over 14-million carats this year.
Part and parcel of new DBCM MD David Noko’s strategy is to sweat the company’s existing assets, and bring new, additional production on line.
“I do not think that we can grow production from our existing operations – we just can’t.
“Our installed capacity is fixed, and we need capital to improve it,” Noko, who was appointed as DBCM MD on February 7, tells Mining Weekly in an exclusive interview.
And, gaining approval for brownfield projects that do not meet the hurdle rates of the company’s principals is out of the question.
“There would be no point in injecting capital into declining mines like The Oaks, as a return would not be realised, but, by exception, all opportunities are being explored, the major ones being brownfields, but some being greenfields through finding partners that have large resources,” Noko says.
Hence, besides organic growth projects, DBCM’s growth strategy is levered on partnerships with smaller diamond-mining companies.
“If we partner with smaller companies, they will benefit from our knowledge, while we will benefit from the resources that they have acquired,” Noko says.
DBCM has many partnerships in Kimberley, where it has large tailings dumps that require advanced technology to turn the low grades of diamonds that they contain to proper account.
The company is also continuing to research the opportunities of working with junior miners and, in Kimberley, already 25% of revenue emerges from joint ventures with junior miners through contracts.
Predict Gold To Become Scarcer.
Financial Times of London quotes Bobby Godsell, chief executive of AngloGold Ashanti, predicting that worldwide gold production will stagnate, then fall in the coming years as large deposits of the precious metal become scarce.
He said this would support the rally in the gold price, which last week hit a 25-year high of $588 per ounce.
The South African company, the world’s third biggest gold producer, mined 6.2m ounces of gold in 2005 but expects production to be lower this year, between 5.8m and 6.1m ounces, and then increase again in 2007 as new projects come on stream.
But in an interview with the FT, Mr Godsell warned that the gold industry will find it hard to keep up current levels of production. “All of the gold majors are finding it difficult to replace their reserves. New mine production will be flat-to-declining.”
RBC Capital Markets in London estimated that total gold production would rise slightly in 2006 and 2007, be flat in 2008 and start to fall in 2009. “There hasn’t been a big gold discovery for years,” said an analyst.
Mr Godsell said: “Gold is precious because it is scarce. Twenty years ago the majority of gold was produced by four old world countries: South Africa, Australia, Canada and the US. In the future it will be anything but. Tomorrow’s ounces of gold are going to be in interesting countries.”
AngloGold, which has expanded away from its base in South Africa as the country’s reserves of gold dwindle, is focusing on exploration in high potential but high risk areas such as the Democratic Republic of Congo, Colombia, Mongolia and Russia.
The high gold price has stimulated exploration activity by smaller mining companies, but Mr Godsell is sceptical about whether this will lead to increased gold supplies as rising costs threaten to kill off these projects. “The juniors have a better track record of finding ore bodies [than major gold companies], but to build a mine now you are talking about $500m for an open pit and at least $1bn for an underground mine,” he said.
Speculation that AngloGold would try to grow by takeover has increased since Anglo American, a UK-listed mining group, said it would cut its stake in the company from 51 per cent to 41 per cent. After Anglo American cedes direct control AngloGold would be “more fleet of foot” in making decisions on mergers and acquisitions, said Mr Godsell. “We look at everything and we have exploratory discussions, but we have no announceable deals.”
Rumors have suggested AngloGold may buy Gold Fields of South Africa, the fourth biggest gold miner, to form the world’s largest gold company. “There are some synergies, we both have mines in South Africa, Ghana and Australia. If we could put together a good deal that would be in the interests of shareholders that would be a great thing to do.”
But he added: “Most M&A activity is value-destructive and this may be particularly true in the gold sector as gold shares trade at a premium.”
Scare tactics or accurate? Time will tell.
Luxury Watches Coming To China.
To seize on a Chinese luxury retail market that is fast becoming red-hot, U.S. watch retailer Tourneau has formed a partnership with Hong Kong's Peace Mark Limited and International Watch Group to open stores in greater China, the companies announced.
Under the brand name Tourneau, the new joint company, which has been christened Peace Mark Tourneau Holdings Ltd., will open high-end stores in mainland China, Hong Kong, Taiwan and Macau. The first two stores will be in Shanghai, with a third in Beijing. All told, the company plans to open 30 stores in China within the next five years, a figure that nearly rivals Tourneau's presence in the United States.
Patrick Chau, chairman of Peace Mark, said the Chinese watch market saw $3.8 billion in sales last year, and that Swiss watches accounted for $2.1 billion of the total sales. The joint venture with Tourneau will lead to the opening of 13 stores in the People's Republic of China over the next few years.
"We are confident that in the next few years, as the luxury market for watches in China expands, we will have stores in China that rival the most successful stores in the United States," Chau said, adding that with the burgeoning number of wealthy Chinese consumers, the men's luxury market is particularly hot.
Tourneau operates 31 stores in the United States and the Caribbean and plans to add 14 additional stores in the United States this year, with new shops slated for King of Prussia, Pa., Naples and Aventura, Fla., Atlantic City, N.J., and more.
Sales at the privately-held company's U.S. retail stores were over 250 million. Selling and distributing more than 100 brands—including Jaeger-LeCoultre, Omega, TAG Heuer and Omega—the retailer's average ticket is about $3,250. Tourneau is heading to China with confidence.
Is Surging Gold Price Affecting Jewlery Sales?
Asks the London Financial Times this morning?
The high price of gold could reduce jewelry demand by a fifth this year, according to The Yellow Book, a bi-annual analysis published by Virtual Metals Research & Consulting and Fortis Bank.
The analysis also predicted that the gold market would swing into surplus this year if prices remained at current levels, leaving the market increasingly dependent on support from hedge funds, pension funds and retail investors.
Physical demand has been badly affected by gold’s surge towards $600 a troy ounce this year and total jewelry demand is forecast to fall by 21 per cent this year to 2,341 tons.
Jewlery accounts for about 75 per cent of the demand for gold, which has very few industrial applications.
VM Group also forecasts that the amount of gold scrap being recycled will rise 19 per cent to 998 tons this year.
Demand for gold through Exchange Traded Funds is expected to decline by 10 per cent to 173 tons, although this forecast does not include the potential launch of a gold ETF in India or the Far East.
The combination of weaker physical demand and higher scrap supply will swing the market from a deficit of 310 tons last year to a surplus of 422 tons in 2006, according to VM.
“There is no doubt that the price activity of the past six months has disrupted the physical markets and we have yet to see at what trading range an equilibrium will be re-established,” said Jessica Cross, VM’s chief executive.
VM said it would be three years before the increase in new mine supplies – resulting from the rise in gold prices over the past six years – had any market impact.
Gold hit a 25-year peak at $591.50 a troy ounce during trading on Monday.
The trigger for hedge funds and pension funds to reassess the allocation of their portfolios to gold and the price implications of such a shift remained unclear. However, the importance of the physical market in providing a base for the price should not be under-estimated. VM said that a correction down to the $520/$540 range could trigger a resumption of physical buying. But if prices persisted at current elevated levels, there would be a greater acceptance of these higher trading ranges by more price-sensitive sectors such as jewelry.
Gary Mead, a VM analyst, said the impact of greater Chinese demand for gold jewelry and talk of China buying gold to help diversify its huge foreign exchange reserves had been overstated.
He said China could be expected to have a deficit of just 78 tons a year by the end of the decade if current supply and demand trends were maintained.
Interesting outlook; To date, we have not seen a drop-off in Gold Jewelry sales in our business. Stay tuned.
Diamond & Jewlery at Retail: How Much Money Is Involved?
The US jewelry retail industry generates annual revenues of about $44 billion from 28,000 specialty, department, and discount stores. Specialty retailers hold about 50 percent of the market. Wal-Mart is the biggest jewelry retailer in the country, followed by Zale, the biggest specialty jeweler with over 2,000 stores and kiosks. The industry is highly fragmented: the top 10 jewelry chains hold less than 25 percent of the market. Other large specialty retailers are Tiffany and Sterling, the US branch of British jeweler Signet Group.
Jewelry sales depend partly on consumer income. Small jewelers can effectively compete with large chains because price isn't the main factor determining retail sales. Profitability depends on the volume of sales because sales costs are high and fixed. Because gross margins are very high, often 50 percent, mass merchants like Wal-Mart have taken market share by controlling costs and cutting prices.
Jewelry is often classified as bridal merchandise (engagement, bridal and anniversary rings - about 35 percent of the market); fashion jewelry (rings, bracelets, earrings, pins, gold chains); and watches, silver flatware, and other giftware. Diamond jewelry and loose diamonds account for the largest share of total jewelry store sales (46 percent); gold jewelry for 11 percent; colored gemstone jewelry (rubies, sapphires, emeralds, etc.) 9 percent; and watches 4 percent.
Silver ETF Set Up To Take Advantage of Higher Prices May Spell It's Slide.
MarketWatch today asks a very interesting and intriguing question: Will special Exchange Traded Funds designed to take advantage of Silver's rising price eventually be the catalyst for it's downward slide?
A highly anticipated exchange-traded fund tracking silver prices may usher in a correction from multidecade commodity highs if it follows the pattern of gold ETFs.
Although the silver ETF has yet to gain final regulatory clearance, precious-metal traders are eagerly awaiting the fund in registration from Barclays Global Investors. Some are speculating it could launch as early as this week on the American Stock Exchange after silver prices reached a 22-year high of $11.815 an ounce Monday.
Analysts, though, say the introduction of the silver ETF could actually set up a price pullback in the days and weeks following the start of trading.
The introduction of commodity-oriented ETFs quite often occurs at market tops.
There are already seven ETF-like products listed on exchanges in the U.S., the U.K., Australia and South Africa that track gold prices, and the launches have been marked by an interesting trend, according to J.P. Morgan analyst Anindya Mohinta in London.
The most successful gold ETF launches were Gold Bullion Securities (GBS) on the London Stock Exchange in December 2003, and StreetTracks Gold Trust (GLD ).
Mohinta found gold prices rose by up to 12% in the 90-day periods leading up to the ETF launch dates, only to fall between 7% and 10% in the corresponding period after the listing date.
So far in 2006, through Monday's close, silver futures are up more than 32%, fueled in part by the ETF talk.
If approved by regulators, the silver ETF would be backed by silver held in a vault, which matches the set-up of existing gold ETFs. Barclays has filed to issue 13 million shares of the silver ETF, with each share representing 10 ounces of the metal. This requires a physical backing of 130 million ounces of silver, or 12% of the global physical demand and equal to the silver inventory on the New York Mercantile Exchange, according to J.P. Morgan.
Mohinta said he doubts that the entire 13 million-share allocation will immediately sell out, pointing to the common practice of using mining stocks such as Pan American Silver Corp. (PAAS )
PAAS25.61, +0.61, +2.4% ) to get exposure to silver without holding the physical metal.
"Larger, more sophisticated players already have an abundance of investment alternatives" such as futures and options contracts to invest in silver and other commodities, noted Tim Evans, senior analyst at IFR Markets in New York.
Precious-metals prices are also notoriously volatile and given to wide performance swings.
Evans said the rush of commodity ETFs such as the silver fund does have a tendency to trigger euphoria, but "their introduction quite often occurs at market tops, bringing small investors into markets they don't fully understand at just the wrong moment."
"While silver can get to $15 or $20 before it's all said and done, the actual launching of the silver ETF could mark a short-term top for silver," added Peter Grandich, editor of the Grandich Letter, noting that the silver ETF could represent a "buy the rumor, sell the news" trade.
Analysts are also warning about potential confusion over the tax structure of precious-metals ETFs. Under current tax law, long-term gains from the sale of silver are taxed as "collectibles" like artwork. Therefore, if held for more than a year, gains on the silver ETF would be taxed at a maximum rate of 28%, compared with 15% for so-called long-term gains on stocks. If sold in less than a year, gains are taxed as ordinary income.
Check out this Siver Exchange Traded Fund carefully before you invest.
Rolex Watches Set Sales Records.
Watch auctioneer Antiquorum saw enthusiastic response to Rolexes in the first half of its "Mondani Collection of Rolex Wristwatches" sale in Geneva on Saturday.
Phase one of the two-part auction—whose second section will conclude in Geneva May 13—netted $3.676 million for Antiquorum including buyer's premium, according to a company release issued Sunday. All 152 lots were sold at 200 percent of their estimated value, with intense bidding from European and Asian buyers.
Ten lots fetched world-record prices. The sale's top lot, selling for a world-record price of $286,211 including buyer's premium, was Rolex's "Oyster Chronograph Antimagnetic" made in 1941. The rare stainless-steel watch, also dubbed the "Medical Chronograph" or "Stainless Steel Monoblocco" boasts a black dial, round button chronograph, register and pulsometer. The next-highest sale was $242,787 for Rolex's "Oyster Perpetual, Officially Certified Chronometer." Made in 1953, the gentleman's watch has a stainless steel "Jubilee" bracelet and features a triple date and moon phases.
In a separate sale on Sunday, "Important Collectors' Wristwatches, Pocket Watches and Clocks," Antiquorum made nearly $9.3 million from the sale of 88 percent of available lots, which fetched 100 percent by value. In its release, the auction house cited the "Mondani effect" on bidding, which catapulted the sale's Rolex lots to fetch value beyond their estimates.
This helped boost Rolex's "Milgauss Brown Dial Rolex" and "Oyster Perpetual" to world-record sales of $153,959 and $93,300, respectively. Top lot at the sale was Patek Philippe's "World Time" watch made in 1953, featuring a map of North America on its cloisonné enamel dial, which fetched $1.745 million.
$1.745 million!
Another sale record was for the Hamilton "Railway Special" pocket watch made in the 1940's. The piece sold for $64,050, the highest price ever paid for an American-made watch at auction.
The Railway Special: $64,050!
Tiffany's Lucida Diamond: What is it ?
Tiffany & Co.'s Lucida is an exclusive patent pending diamond cut whose shape is a square mixed cut. It has 50 facets, a high crown, stepped facets, wide corners and a small table with a brilliant pavilion. The design of the cut maximizes the stone's sparkle and brilliance. A photo is shown below.
AGS-0 Ideal Cut Princess Diamonds have similar sparkle to the Tiffany Lucida, without the price tag!
Lucida Diamond.
Tiffany has added an eternity band and a three-stone ring as well. Lucida, which means the brightest star in a constellation, is available exclusively at Tiffany & Co. stores worldwide. The setting is copyrighted and the diamond has multiple patents pending.
The Lucida diamond is made from the same rough as a well-cut round. Created by Tiffany's gemologists, the cut is similar to the Asscher and antique Cushion Cuts. Tiffany showcases the Lucida cut in a special four-prong ring shown below. The sculptural band has clean lines and soft curves that merge with the prongs in a sloping crisscross design, which, when viewed from the side, is reminiscent of cathedral arches.
Lucida Ring.
Lucida was designed and introduced by Tiffany in 1999. The retailer has positioned the collection to fit between its classic Tiffany setting and its cuttingedge Etoile collection and has become something of a status symbol. The worldwide launch was backed by an extensive advertising campaign that included four-page inserts, spreads and single-page units in fashion and lifestyle publications. The Lucida is available at 150 locations internationally, including Japan, France and London.
Each Lucida diamond is sold with a Tiffany Certificate. The inside shank of each ring is currently engraved with the following: Copyright, Tiffany & Co. Lucida, metal fineness and the phrase "patents pending." When the patents are finalized, the actual patent numbers will be engraved in the shank.
Click on the icon below for a stunning collection of the finest Tiffany style diamond engagement rings and Ideal Cut diamonds at outstanding values!!
Gold Breaks $600! Silver sets New Highs!
Gold futures powered higher early Thursday, setting a fresh 25-year high at $600 an ounce, pulling other metals to multiyear levels and helping copper to a new all-time high.
"Gold is exploding and silver isn't far behind," said Kevin Kerr, trader and editor of Global Resources Trader.
Gold for June delivery rose to $600 an ounce in official trade on the New York Mercantile Exchange, having earlier hit a high of $601.90 in electronic trade.
Silver traded at a new 22-year high of $12.01 an ounce, after peaking at $12.08 in electronic trade.
The metal has rallied sharply in recent weeks as excitement has built about the pending launch of a silver exchange-traded fund, that's expected to boost physical demand for the metal.
Platinum rose $17.40 to $1,098 an ounce and palladium was up $13.35 at $356 an ounce.
"Key resistance was broken overnight and as we have been building support and healthy consolidation over the last week or so now we have a firm base to move higher," said Kerr, who noted that today's rally has come without any real news to drive it.
Analysts at Action Economics said metals are finding strong support from continued buying by funds, seeking out asset classes with a potential for strong returns.
Now that gold has hit the psychologically key $600 an ounce level, some nearer-term funds may take the opportunity to lock in some profits, they said.
On the other hand, the break through $600 will also trigger a range of stops and key hedge-fund buy levels, said Kerr.
X Prong Custom Filigree Round Diamond Engagement Ring by Vatche!
Hey Folks!
Check out this absolutely stunning new design by Vatche just finished for one of our customers.
This beautiful diamond engagement ring by Vatche is the famous X prong with a new twist; hand carved intricate filigree work!!
The ring is completely hand made in 950 heavyweight platinum and is accompanied by Vatche's Lifetime Guarantee!
The center round brilliant diamond is from our collection of wholesale loose diamonds listed on our website database.
This ring is now available for sale on our www.exceldiamonds.com website!
Enjoy the pictures!
ExcelDiamonds Adds A New 'Build Your Ring' Feature!
Exciting news at www.exceldiamonds.com!
We have just finished adding a special new feature that will put even more control in the hands of our diamond and jewelry customers by allowing you to create your very own diamond engagement ring!
It is really simple!
First you access our incredible collection of thousands of loose diamonds online and choose a diamond based on your own specifications.
You will then have the option to purchase the diamond loose, or you may choose to select an engagement ring setting by clicking on this tab:
Once you click on this tab you will come to this landing page which will allow you to search from our selection of hand crafted solitaire settings, diamond accent engagement rings settings, 3 stone diamond engagement ring settings, etc.
Once you select your setting you will click on this tab:
This will drag both items into our fully encrypted shopping cart and will allow you to purchase the completed diamond engagement ring which you will receive fully completed and packaged in our beautiful presentation case.
We do not charge you a setting/polishing fee for the setting of your loose diamond in one of our engagement rings when you purchase a complete diamond ring from our company!
Wanna choose a setting first?........... No problem!
You can go through the same process in reverse!
Simply choose the engagement ring and then match your loose diamond to it!
With us, there is no such thing as being forced to select a pre-fab diamond engagement ring that was already put together for you. Indeed you are completely in the drivers seat!
You get to choose the loose diamond with specifications that represent maximum value for your dollars!
Select from our database of thousands of wholesale loose diamonds, or from our Exclusive selection of SuperbCert Super-Ideal Cut Branded Hearts & Arrows Diamonds...and then match it to the engagement ring of your dreams!!
We are really excited about this new feature and hope that it will add value for our customers and increase their pleasurable shopping experience with us!
Do You Know How To Buy Your Diamond Engagement Ring?
NOT as this couple unfortunately found out. Be A Smart Diamond Shopper
We totally agree. Here are our recommendations for your safe diamond engagement and wedding ring shopping:
1. Work with a reputable Jeweler; be it Brick & Mortar (B&M) or Internet. Check with your local BBB and the Jewelers Vigilance Committe (www.jvclegal.org)
2. Know what you're buying. Make sure your diamond has a lab grading report. The two most stringent, accurate, and consistent diamond grading labs are the GIA (Gemological Institute of America) and the AGS (Americn Gemological Society). Insist on them.
3. If you're more comfortable shopping with a B&M Jeweler, look at as many diamonds as you can and away from the diamond counter's high intensity halogen lights which tend to make even the ugliest darkest diamonds look D-Flawless.
4. If you're shopping with an Internet Diamond vendor, make sure that they can examine the diamond for you to determine if there are any red flags you need to know about which would dissuade you from buying the stone.
A great number of Internet Vendors sell of Virtual Diamond (VD) databases and never see the diamond you're buying. The diamond is drop-shipped directly to you from the manufacturer. We covered this topic in more detail here: Cyberspace Diamonds
5. Ask the Internet Vendor to supply you with as much information as possible, including photo's.
6. Be clear and understand the Vendor's Policies: Payment, Returns, Upgrades, etc. and any timelines or deadlines that might accompany these Policies.
7. Ask about and receive any paperwork that comes with the diamond.
8. Stay away from in-house Appraisals. Such Appaisals are inflated, will cost you undue high insurance Premiums, and is a practice that is frowned upon and not sanctioned by the reputable National Association Of Jewelry Appraisers (NAJA). Best is to get an evaluation and Appraisal from an Independent Appraiser that does not work for a Jewlery store and does not sell their own diamonds and jewelry. Contact NAJA for a llisting and location of such Appraisers.
Shop Smart. This is a big purchase not only in terms of money but also in terms of emotional significance.
Good Luck!
It Is Safe To Buy Your Diamond Engagement Ring On The Internet.
According to recent statistics from comScore Networks, online sales are already up in 2006. Gian Fulgoni, comScore chairman, said in a January press release, “The 2006 year opened on a strong note, with solid growth of 33 percent in online nontravel sales versus the same period in 2005.” He went on to optimistically predict, “It’s clear based on what we’re seeing so far in 2006 that the strength in online sales will not wane anytime soon.”
According to a comScore press release: “The growth in 2006 online consumer spending follows a year of solid gains. Total online spending for the full year 2005, including travel, reached $143.2 billion, up 22 percent over 2004. Online nontravel spending in 2005 accounted for $82.3 billion, an increase of 24 percent over 2004 levels.”With this kind of money at stake, the question is not whether a business can afford to set up an online store. The question is whether a business can afford not to.
Sales of Loose Diamonds, Diamond Engagement Rings, Diamond Rings, and Wedding Bands by reputable Internet vendors are increasing at a rapid clip. Information on the Cut quality of the diamonds such as lab grading reports, photographs, and light analyses help consumers "see" the diamond on-line and provides very useful information to making an informed purchasing decision.
Keep in mind that buying your Diamond Engagement Ring through an Internet Vendor demands the same caveat Emptor and verification as does shopping with a Brick and Mortar Jeweler.
We discussed and covered several important DO'S and DON'TS just yesterday in this Blog Entry.
Buying Your Diamond in Cyberspace
To paraphrase Sy Sims: An educated consumer makes for a very good and happy customer.
Chameleon Diamond: What Is It?
In Nature, Chameleons (family Chamaeleonidae) are large lizards that belong to one of the best known lizard families. They are famous for their ability to change their colour, and also because of their elongated tongue and their eyes which can be moved independently of each other. Their eyes are the most unique among the reptiles. Among other things they can rotate and focus separately to observe two different objects simultaneously.
Chameleon
Some Chameleon species are able to change their body colour, which has made them one of the most famous lizard families. Contrary to popular belief, this change of colour is not only an adaptation to the surroundings but also an expression of the physical and physiological condition of the lizard. The skin colour is changed under influence of mood, light and temperature. The skin colour also plays an important part in communication and rivalry fights.
There is also such a phenomenon as a Chameleon Diamond. Certain natural green diamonds react to heat or dark storage by temporarily changing color, often becoming bright yellow. This color change is short-lived as the diamond soon reverts to its stable color. Most specimens observed in gem laboratories show even color distribution, aiding in the dramatic transformation, and both color changes are documented on laboratory reports. Faceted chameleon diamonds of 2 carats or more occasionally appear on the market; the more sizable stones offer the maximum opportunity to see color change.
A color-change diamond is such a rare and curious gem that very little has been written on the subject. The first documented report on chameleon diamonds appeared in 1943, according to the GIA Diamond Dictionary. Peter Kaplan, of the Peter K. Kaplan Inc., was astonished to witness a diamond change color on the very hot polishing wheel. The peculiar diamond was later graded light yellow green. It sold, but the baffled customer promptly returned it for a refund when the yellow-green diamond changed to dark green after storage in a jewel box.
Phenomenon Not Well Understood.
An article in GIA's Award Winning Journal, Gems & Gemology, Spring 2005, acknowledged that “...the mechanism behind chameleon coloration is not yet well understood. Nevertheless, chameleons are among the few green diamonds that can be conclusively identified as natural color, since their behavior cannot be created or enhanced in a laboratory.”
Fine-quality phenomenal diamonds often carry certificates verifying their natural characteristics. One such report by Gübelin Gem Lab, Lucerne, Switzerland, added, “Chameleon diamonds are one of the great mysteries of the diamond world. It is still not known why these diamonds change from deep green to yellow when heated or left in darkness . . . these qualities make ‘chameleons’ among the most fascinating of colored diamonds.”
A rare subset of natural fancy color diamonds, chameleons are so named for their repeatable color-change property. Prolonged dark storage, or photochroism, changes a “Classic” chameleon from its typically stable color of grayish-yellow-green to a temporary or unstable color of greenish-orangish-yellow. A few hours of dark storage might be all that is needed to bring on a color change. Also, heating a Classic chameleon, termed thermochromism, likewise results in a prominent temporary color change. At about 150º C, the induced color should be evident within a few seconds. The term “Reverse” chameleon refers to phenomenal diamonds that change from yellow in stable conditions to green after subjection to dark storage. Heating does not produce a color change in Reverse chameleons. With both groups, the change is infinitely repeatable.
Rarer still are some “maverick” color-change diamonds that have been found in Australia that exhibit this phenomenon with their own unique pair of colors. Australia’s Argyle diamond mine, famous for its fancy color diamonds, occasionally produces hydrogen-rich diamonds that also exhibit a “chameleonlike” color-change behavior. The stones are distinguished by either a blue-violet-gray color or a gray-olive color. They are thought to owe their phenomenon to high hydrogen content, but this has yet to be proven.
Identification of Chameleon Diamonds is by heating and observation. Be careful with this because heating an enhanced diamond, however, might lead to an unwanted permanent modification of color. If you suspect that the green diamond might just be an enhanced stone, the recommended course of action would be to send it to a laboratory for testing. In a laboratory, the spectroscope reading, coupled with an ultraviolet (UV) radiation reaction, will positively separate a chameleon from another type of green diamond.
Rarity.
Because of their rarity Chamelon Diamonds are not well understood by the Public or by Jewelers. Chrisities, or example, auctions a color-change diamonds in Hong Kong, because, according to Daphne Lingon, senior vice president, jewelry department, the Asian market is well-informed about phenomenal gems,which are avidly collected. During Christie’s Magnificent Jewellery & Jadeite Jewellery Hong Kong auction in May 2001, a platinum ring featuring a 4.41-carat “superb fancy dark-gray-yellowish-green chameleon diamond” went on sale and brought a sale price of $240,000.
Online jeweler Ariel Friedman of IceStore Inc., Beverly Hills, California, speculates that a combination of phosphorescence and fluorescent properties contribute to the chameleon effect in these special diamonds. Friedman estimates that he sells between five and ten chameleons a year, attributing that success to his customers, who only buy high-end goods. Recently, one of his best phenomenal diamonds went to a well-known actor who desired a one-of-a-kind gem. Friedman’s clientele understands fancy color diamonds and that “with chameleons, they own something clearly unique among the fancy colors.” A 2.95-carat, round brilliant chameleon is offered on his website for $63,720.
Silver Hits Another Record Price
Gold rose on Monday but remained below a 25-year peak of $598 an ounce hit last week, while silver gained more than 2 percent to hit new highs not seen in more than 22 years.
Spot gold rose to $592.75/593.50 an ounce from $588.00/588.90 an ounce late in New York on Friday, when the metal hit another multi-year high on buying from funds and investors.
The upside target was pegged around $600 an ounce, a level last seen in December 1980.
"It's certainly looking to test that area," said Darren Heathcote, head of trading at N M Rothschild in Sydney.
The price dips attracted buying from investors but it may not be strong enough to push up gold to $600 during Asian trading, said Heathcote, adding that the metal could find stiff resistance at $596.
Investors have turned to the booming commodities markets for investment alternatives to lagging equity, bond and foreign exchange markets, said dealers.
Tensions in the Middle East, uncertainty about the dollar's outlook, worries about rising energy costs and speculation that central banks would diversify into metals have also boosted gold's appeal, they said.
Zales Facing SEC Probe; Stock Price Drops 9%.
Diamonds may be forever, but at beleaguered jeweler Zale (ZLC: 25.16, -2.64, -9.5%) new management is surely hoping that an investigation by the Securities and Exchange Commission will be short-lived.
Shares of the Dallas-based specialty retailer lost some of their sparkle Monday, falling 9.5% after Zale disclosed the probe. The SEC subpoenaed records relating to accounting for extended service agreements, leases and accrued payroll, as well as for executive compensation, severance, earnings outlooks and stock trading.
MarketWatch sums up Zales plummeting fortunes this year thus far culminating with today's announcement that it is facing an SEC investigation.
It's more bad news from a company that has seen three top executives resign this year amid sagging sales and a slumping stock price.
"It's very murky," says Bill Armstrong, an analyst for C.L. King & Associates, a boutique research firm in Albany, N.Y. "According to what they told me, they don't even know what the SEC is looking for, as far as what it's investigating. The SEC communicated to them in very general terms."
Zale Treasurer David Sternblitz says regulators have offered little information beyond the request for records. The company has already publicly elaborated on its accounting practices for extended service agreements and leases, he says, and KPMG, Zale's auditor, has consistently given Zale a clean bill of health. "We will be cooperating fully, and the company believes that it has complied with generally accepted accounting principles," Sternblitz says.
The company's 2,345 stores in the U.S., Canada and Puerto Rico, as well as its online division, had sales of $2.38 billion in 2005 and are on track for sales of $2.40 billion this year, according to analysts surveyed by Thomson First Call. Its Zales Jewelers division accounts for about half of all revenue, and an average sale is between $200 and $300, says Armstrong. Other brands include Zales Outlet, Gordon's Jewelers, Bailey Banks & Biddle, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.
For its fiscal second quarter ended Jan. 31, Zale's earnings fell 7% year-over-year to $1.78 a share. The company reported a profit of $1.96 a share, but that figure didn't conform to generally accepted accounting principles.
The Feb. 21 earnings announcement came on the heels of the January resignation of Mary Forte, president and chief executive, and the February resignation of Paul Leonard, president of the Zales Jewelers division. Sue Gove, chief operating officer, quit last month. Mary E. "Betsy" Burton was named interim CEO on Jan. 31.
Change at the top can muddy the waters beneath, says Alan Ratliff, a partner at Stone Turn Group, a forensic accounting firm in Houston. Generally, he says, situations like the one at Zale could attract some extra attention from regulators.
"I would say that every one of those [areas covered by the SEC subpoena] listed is the subject of one or more interpretive accounting standards, where someone could interpret it in a particular way and be just over the line," Ratliff says. "In the context of a company where the top management resigns or gets fired, it could be something like that."
The timing of extended service agreement revenues, in particular, is an area that's ripe for trouble, says Ratliff. "When do you report revenue? Over the life of the contract, or immediately, and then have an immediate result?" he says. "If someone reports that as revenue to make things look better, or creates a huge reserve they don't necessarily need, the issues of timing can come up anytime."
Sternblitz agrees the recent management turnover is likely a reason for the SEC's interest.
"My guess would be that requesting this type of information, such as earnings guidance and compensation, is probably standard practice in order for the SEC to determine if any person profited from the issues that are in questions," the treasurer says. "Some of our executives are scheduled to talk to the SEC next month, but they haven't given us a timetable in terms of their investigation."
Zale's main priority apart from the investigation is to find a new CEO, says Sternblitz. The company has a short list of candidates and should name a new chief within three months.
Shares are down nearly 20% since. Management upheaval, disappointing financials and now accounting questions have contributed to the decline.
That said, the jewelry business isn't such a bad place to be as the population of aging and affluent customers expands. "In general, baby boomers are in their peak earnings and jewelry-buying years," says Armstrong. "I think demographic trends are generally favorable to the jewelry industry."
Unfortunately for Zale, others are lining up to lure those deep-pocketed shoppers. The company faces intense competition from Kay Jewelers, its retail rival in malls across America, as well as from jewelry departments at larger retailers such as Wal-Mart Stores (WMT: 45.70, -0.32, -0.7%), J.C. Penney (JCP: 58.47, -1.54, -2.6%), Kohl's (KSS: 53.95, +0.55, +1.0%) and T.J. Maxx (TJX: 24.41, -0.06, -0.3%).
Zale's new management needs to move away from heavy promotional discounts and regain market share, wrote Brian Tunick, an analyst at J.P. Morgan, in a Feb. 17 research note that came out just after Valentine's Day, a key time for jewelry purchases. Zale's business prospects will become clearer, he wrote, by year's end once the critical holiday gift-giving season has come to a close.
Hey Guys: Can Diamonds Buy Women Love? Guess Again.
Diamonds are a Girls Best Friend. Right?! Well, fellas, not according to a survey just released by True, an on-line relationship service. They found (surprisingly?) that women value Love and a long-term committment-relationship more than diamonds and jewelry.
Read the results of their survey here: Love Or Diamonds?
Internet Diamond & Jewelry Websites Show Biggest Gain.
Idex reports that Internet Diamond Websites are showing the biggest Sales Increase for the First Quarter compared to other more traditional Retail Brick & Mortar Jewelers.
Diamond Studded Easter Egg on Sale!
Cash and Carry. The Sales Counter is HERE: Diamond Easter Egg
Christie's to Auction Princess Margaret Jewelry Collection
Christie’s will hold a sale of jewelry and works of art from the Collection of Princess Margaret, Countess of Snowdon, in London on June 13 to 14. More than 800 items will be featured, with estimates ranging from $174 to $872,000.
The sale will include an antique diamond riviere (estimated $349,000-$523,000,) accompanied by three handwritten notes naming the necklace after a previous owner as the ‘Lady Mount Stephen,’ which was given to the princess by her grandmother, Queen Mary.
Another highlight is a five-row art deco pearl and diamond necklace (estimated $26,000- $35,000,) and a marquise cut diamond ring of 5.17 carats (estimated $105,000-$122,000.)
The ‘Poltimore Tiara,’ which was originally created by Garrards in the 1870’s for Florence, Lady Poltimore, the wife of the second Baron Poltimore is up for auction (estimated $262,000-$349,000.) The princess wore it on her wedding day and prior to the wedding, she wore it in its alternative form as a diamond fringe necklace and scroll brooches.
“Christie’s are honored to have been instructed to sell jewelry and works of art from the private collection of H.R.H. The Princess Margaret, Countess of Snowdon,” said Francois Curiel, deputy chairman of Christie’s and international head of jewelry. “We will stage an auction that pays tribute to her glamorous style and beauty.”
Awesome Diamond Engagement Ring Testimonial!!
Here is an extremely heartfelt diamond ring testimonial that we just received from one of our customers, completely in his own words. It is testimonials like these that make our family diamond business so rewarding!
Barry,
Firstly, let me apologise for my rather lengthy silence after having promised a testamonial many months ago. I was beyond satisfied with the ring, and as a guy I can't say I've ever been very taken with jewellery of any sort nor had any previous appreciation of it, but the ring you crafted was exquisite in every respect (but I will get to that soon).
In actual fact my delayed response has probably been a good thing as its allowed me to witness just how the ring feels on my fiancee, how it looks under different light and how all different types of people seem to be awestruck by it. I realise that last comment may seem like hyberbole to someone reading your site, but I'm quite a level-headed engineer, not particularly partial to glamour...but 'awestruck' is perhaps the only factually correct word I can think of.
Perhaps I should start this at the very beginning. When I started my quest for the best diamond I could afford within my budget I started trawling through the web, and stumbled on diamondtalk.com My education began there, and all roads seemed to lead to Barry, and Excel Diamonds. Of course, I emailed and questioned numerous other sellers across the States, but no one was even close to matching the level of attention, patience and customer care provided by Barry - at all hours of the day! All my emails and little queries were replied to extremely promptly - at times I wondered if Barry ever slept! As I can only speak from my own perspective on how I sought to find the right vendor, I'll say what I was ultimately looking for was simple....INFORMATION. Before making such a purchase I wanted indepth data, graphics, photos and independent grading reports. Barry was more than willing to provide all of this (it's all on the website without even asking!), and really let the diamonds speak for themselves. I couldn't even find one vendor who even closely rivalled the willingness or ability to offer the level of service Excel Diamonds provided.
In the end I purchased a SUPERBcert Round 0.92 Carat F Super Ideal H&A SI1 diamond. As anyone who's going through buying a diamond knows you're constantly juggling the different parameters for the best overall effect, depending on your priorities. For me, my objectives were primarily brilliance and overall scintillation, then clarity and colour. Above all I wanted a fiery stone which would really sparkle. I couldn't see the inclusions at all as they were masked by the superb cut, and I couldn't have guessed that the colour was F..it was as white and colourless as I could have wanted. On top of that the cut was phenomenal. I can't describe the sparkle...it's like it's on fire...day or night, in low-light or shade. First-rate all round!
When I opened the box when the ring arrived, I was taken aback by the sheer craftsmenship. The Tiffany Classic Diamond Engagement ring in platinum was simply beautiful. I'll let my fiancee's reaction tell you about the diamond. When I proposed and opened the box, her jaw seemed to drop for a few seconds. I was expecting her to be more taken aback by the proposal, but I think the diamond was more shock-inducing! She was speechless while she was looking at the ring, but when she got her voice back she said it looked like something out of a commercial...and that it was just HUGE (and I was worrying it wasn't big enough!) She was overwhelmed for a few minutes, and even now from time to time I catch her staring at it hypnotically. This was over and above the reaction I was hoping for! So thank you, Barry, it was all down to you!
In the meantime since then, I've seen a number of people catch sight of the ring, and have them stare in amazement. Her friends are jealous, and even they stare at it for wayy to long! i just hope it's not giving other boyfriends or fiance's out there added pressure! Every time I look at it, i'm incredibly pleased I decided to go with Barry and Excel Diamonds, and I couldn't be happier with how my fiancee feels about it.
I can't thank you, Barry, enough for a truly first-class ring, and I can't recommend you highly enough either. I couldn't imagine how the service or the quality of his products could be any better, I was impressed every step of the way. I read many a testamonial like this for Barry before I found the diamond I wanted, and there's no other way to say it, every one of them was absolutely right!
Thank you for everything you've done, Barry.
Tim & Fumiko
p.s. Barry, please feel free to correct or edit any little mistakes I might have made!!
Fancy Vivid Pink Diamond Sets Record Price At Sotheby's Auction.
A rare, vivid fancy pink diamond ring fetched a record $6.2 million at Sotheby's Magnificent Jewels and Jadeite auction, held April 9 in Hong Kong.
Bought by an anonymous bidder, the 10.04-carat ring established a new world record price for a pink diamond sold at auction. Overall, the spring 2006 series of Hong Kong sales commanded a total of $108.5 million for watches, jewels, jadeite jewelry and art Sotheby's put on the block. The auctions were held at the Hong Kong Convention and Exhibition Centre.
Hey, Waiter! Over Here! I'll take Two!
Gold Hits $600. What's Next?
Gold bullion nudged through the $600 per ounce barrier for the first time in a quarter century on Tuesday, prompting investors to ask: can $800, or even $1,000 gold, be far behind?
Most analysts agreed that once the precious metal broke the psychological mark, it would likely keep going. But they were divided over whether gold mining company stocks would be as attractive as owning bullion.
They noted that the big gold miners, like Newmont Mining (NEM.N: Quote, Profile, Research) and Barrick Gold (ABX.TO: Quote, Profile, Research) (ABX.N: Quote, Profile, Research), have failed to see their share prices keep pace with the steady rise in gold. Instead, investors are flocking to smaller, so-called "junior" gold companies that are involved in exploration,
"Gold will go dramatically higher, it's still early," said Peter Schiff, chief executive of Euro Pacific Capital, a brokerage based in Newport Beach, California.
"Will it reach $800? Yes, $1,000? yes, $2,000? yes. it has nowhere to go but up, but it depends on how far the dollar and other currencies will be devalued."
"The momentum for the commodity is going up and if spot prices break the $600 mark, they will probably continue to go up," said Victor Flores, an analyst with HSBC Securities.
Peter Spina, who operates an investor web site, goldseek.com, said in the short-term there was likely to be correction as the market was a little over-extended, with physical demand from India, the world's top consumer of gold, mostly for jewelry, "drying up at these prices.
"But long-term, fundamentals for gold are more as an investment vehicle." He anticipated the price would rise to $800 within the next two years and possibly hit $1,000.
Pakistani Women Love Diamonds.
A Girl's Best Friend, the world over. Diamonds are A Girls Best Friend In Pakistan, Too!
From Israel Comes The Divine Diamond
National Jeweler reports of the design of a special diamond shape that takes a page from a fiction bestseller to hopefully drive sales. This is the focus of Israeli diamond designer Shlomo Cohen, credited with developing the Princess Cut in 1982.
Now, taking the idea of the "Golden Ratio" or "Divine Proportion" popularized by author Dan Brown's phenomenally successful novel, The Da Vinci Code, Cohen has released "The Vinci Diamond," a 62-facet "pentacle" cut incorporating the Divine Proportion's precise ratios.
h its table. In the end, he met this challenge: Three pentacle shapes, conforming to the exact dimensions of the Divine Proportion, are visible.
"The completion of my work at the same time as The Da Vinci Code has enjoyed such amazing international success is a happy coincidence," Cohen said. "And, the fact a major Hollywood movie by the same name will soon be released is an added bonus."
The cut has been patented in Japan, Israel, Belgium and the United States.
Fad or a diamond design that will withstand the test of time? We have blogged on this topic previously here:
New Diamond Shapes: Here Today, Gone Tomorrow?
Gold And Silver Riding The Bull: Are We At The Beginning Or End?
Commodities have been breaking new records for six months now, and this week reached another milestone when gold, copper, zinc, silver and Brent crude all moved through key levels.
Few observers are brave enough to call this latest rally the top of the market, and futures prices are suggesting that further gains might be seen.
Gold peaked at a high of $604.00 a troy ounce on Tuesday, the first time it has moved through the $600 point since December 1980. The latest GFMS survey suggested that the price could push beyond the $850 record reached in January 1980.
Silver moved through $13 an ounce on the same day, for the first time in 23 years, with buying encouraged by the proposed launch of a silver exchange-traded fund that is expected to attract new investors. Platinum also hit a record this week when it touched $1,095 an ounce.
On-Line Ads , Paid Search Increase
NetRatings AdRelevance service by neilsen reports that advertisers purchased 185 billion displays in March, which was double the amount one year earlier, and 31 percent higher than February's ad-spending total. Retail goods and services accounted for about 15 percent of the total (1 percent higher than March 2005.)
While the number of search engine inquiries continue to grow, according to Nielsen//NetRatings, Google holds steady as the No.1 search engine with 49 percent of activity, Yahoo! drew 23 percent of traffic, and MSN attracted 11 percent.
At press time, the top sponsored pay-for-click advertisers for "diamonds" on Google were: Ross Simons Diamonds, Blue Nile, and Yehuda Diamond Company. On Yahoo! the top paid links were Bidz.com (jewelry auction website,) Yehuda, and Blue Nile. On MSN, Blue Nile takes the top spot, followed by McGivern Diamonds, and Shopping.com.
Users hit the search engines for pictures of goods and for comparison shopping information, which has become an important part of the consumer shopping experience in the past two years. The number of searches in February 2006 grew 38 percent from one year earlier to about 5.3 billion.
Broadband use has grown 28 percent since February/March 2005, to reach 96 million homes in the United States or 68 percent of Internet users.
Buying Diamonds and Jewelry on the Internet has come of Age.
Gold, Platinum, Silver Bulling UP.
Gold closed today at $614.05 UP $15.40
Platinum at $1104, UP $22.
Silver at $13.58, UP $.65
"Promise" Her Anything, But Give Her a Diamond
Interesting article in today's GW Hatchet Newspaper discussing college guys giving their gals affordable "promise" rings instead of more expensive diamond engagement rings until they make the big bucks.
Article is here: Promise Rings
Our opinion? Promise her anything, but give her a Diamond.
The Cost Of "Love" Keeps Going Up!
THE price of love just got higher – much higher.
The soaring price of gold, which yesterday hit $US615.08 an ounce, might be good news for resource companies but it has pushed the cost of producing jewellery up by almost 50 per cent.
Aaron Wilson, director of Melbourne company Michael Wilson Diamond Jewellers, said the value of the gold in an average diamond engagement ring had risen by about $100 in the past 12 months.
The price of platinum had also sky-rocketed.
"The jewelery industry, especially hand-made diamond rings, is a very competitive market," he said.
"It makes it very difficult for us. People don't like the prices being put up (so) we try to absorb it as much as possible." The price of gold is now at a 25-year high, having risen about 5 per cent this month on the back of concerns about Iran's nuclear intentions.
As the spot price of gold continued to gain strength, the miners kicked along.
Newcrest Mining picked up 61¢ to $22.86, Newmont gained 36¢ to $7.54, Kingsgate Consolidated was up 17¢ at $6.26 and Lihir up 14¢ at $2.96.
Gold stocks reaped the benefit yesterday, with Lihir Gold up almost 5 per cent to $2.96, Newcrest 61 higher at $22.86 and Oxiana climbing 10 to $2.85.
Analysts said people were buying gold as a safe haven and an inflationary hedge.
Mr Wilson, who grew up in the family business, said the soaring gold price – up 40 per cent since April last year – was unprecedented.
"In the past 12 months it's gone up more than I've ever seen it," he said.
Gold And Platinum Are RED HOT!!
Gold is up today by $6.65 to $620.65
Platinum up $13 to $1116.00
Silver up .38 to $13.93
Iran Affecting Diamond & Jewelry Prices.
Commodities prices roared to new peaks on Tuesday as fund buying restarted, triggered by fears over the nuclear stand-off in Iran and the impact of surging economic growth in China, investors said.
The oil market hit a new record peak, taking key industrial metals prices with it and propelling precious metals to their highest since the early 1980s.
"The fundamental factors are the intensifying of the political situation in the Mideast Gulf and the Chinese GDP figures, which got everyone back to thinking China is eating up global natural resources," a fund manager said.
China's economy is on course for growth of at least nine percent this year signalling accelerating imports of energy and raw materials.
Fears about Iran's row with the West over the country's nuclear program sparked oil's latest rise.
IPE Brent crude set a fresh high of $72.20 per barrel before falling to $72.03 at 0847 GMT.
Brent has rallied from below $60 in December, buoyed by a fresh flow of fund investment amid mounting concern over Iran and the possibility of U.S. military action against the world's fourth largest oil producer.
"If we look forward it's continued economic growth and a potentially disastrous situation in the Mideast Gulf," the fund source said.
Most commodity indexes, which between them have attracted around $80 billion of speculative investment into the markets, are weighted heavily towards oil.
Fasten Your seatbelts!
Sales of Moisannite Fall.
Jewel maker Charles & Colvard Ltd., reported a decline of 29 percent in sales to $8 million, during the first fiscal quarter ending March 31.
The sole producer of the man-made jewel moissanite, reported operating income of $2.3 million and profit of $1.5 million or 8 cents per diluted share for the quarter, representing a 31 percent fall in operating income and a 24 percent drop in profit.
In a statement issued on April 18, the company attributed the drop in revenue to a decline in orders from jewelry maker K&G Creations who in 2005 placed orders for its initial rollout of moissanite jewelry for Finlay.
Watts & Schrieber Engaged?
Naomi Watts and Liev Schreiber have reportedly become the latest celebrity couple heading for the wedding chapel after the King Kong star accepted her actor beau's marriage proposal.
The couple has been spotted shopping for engagement rings in Los Angeles.
An insider at top store Antiquarius tells America's In Touch magazine the couple were shopping for $400,000 rings earlier this month.
Diamond Engagement Rings Going Up In Price!
We have been warning of sharp price increases in diamond engagement rings and wedding bands due to the very sharp rise of Gold and Platinum prices over the past several months.
Now I guess it's official and no longer "Chilly-Willey, the sky is falling" because USA Today ran a piece yesterday on this very topic.
Their "exclusive" headline is here: Your Diamond Engagement Ring Will Cost More Money
We told you so.
Mothers Love Diamonds.
Children, Mother's Day is fast approaching.
Mother knows best...when it comes to driving gift sales, as American moms are expected to motivate $13.8 billion in retail gift buying this year, finds the National Retail Federation (NRF) 2006 Mother's Day Consumer Intentions and Actions Survey.
Jewelry gifts are expected to account for $2.1 billion In Mother's Day sales, compared to the $1.7 billion spent on jewelry for the holiday last year. That's second only to the $2.8 billion that NRF's survey indicates will be spent taking moms out for brunch or dinner, up from the $2.2 billion shelled out for celebratory Mother's Day comestibles in 2005.
The average Mother's Day shopper expects to spend $122.16 this year, according to NRF, up from $104.63 last year. Popular gifts include: greeting cards, which 85.4 percent of respondents said they'll be giving mom this year; flowers, which 67.6 percent of respondents expect to purchase; gift certificates or gift cards, on the list for 31.9 percent of shoppers; books or CDs, which 25.8 percent plan to give; and electronics or computer-related accessories, which 6.7 percent plan on giving mom.
"Consumers certainly enjoy splurging on luxury items, such as fancy meals and jewelry, but greeting cards and flowers still remain favorite tokens of their appreciation," Phil Rist, vice president of strategy at BIGresearch (which conducts the NRF survey), said in an NRF release. "No price tag is too high when it comes to showing mom the love and appreciation she deserves."
Men are expected to spend more than women on the holiday, with the average male expected to devote at least $148.51 on mom, compared to the $97.72 women are expected to spend.
Moms aren't the holiday's only gift recipients, as 20.7 percent of respondents to NRF's survey said they'd be buying for wives this Mother's Day; 9.1 percent for daughters; 8.5 percent for grandmothers; 7 percent for sisters; 7 percent for friends; and 12.3 percent for other relatives.
Young adults, ages 18-24, are this year's big spenders, dropping $142.40 per person this Mother's Day, up from the $96.08 they put toward mom last year. Those aged 45-54 are expected to come in second, spending an average of $129.29 per person, followed by 25-34 year olds, who are projected to part with $122.39 each.
Diamonds For Sex: Prom Night Is Here.
The story is here: Prom Night
Just watch other jewelery stores use this sales approach.
Diamond the Size of Hens Egg Found!
A small diamond company uncovered a huge 235-carat gem -- the size of a hen's egg -- in South Africa only a few weeks after launching its operations, the firm said on Friday.
Nare Diamonds Ltd. said it uncovered the rough gem on Wednesday after resuming mining in March at the Schmidtsdrift mine, 50 miles northwest of the country's historic diamond center of Kimberley.
The mine was shut down three years ago by another firm that went bankrupt, a spokesman said. During the mine's previous operations, the average size of stones was 1.14 carats.
"The large-sized gemstone is octahedron in shape and of very good quality according to a third party assessor," the statement to the London stock exchange said.
It is hard to set a value for the diamond because typical valuation measures fall away when diamonds reach a certain size, the spokesman said.
London-listed Lonrho Africa Ltd, which recently bought a 17 percent stake in unlisted Nare, issued the statement. Its shares shot up 7.5 percent to 28-3/4 pence by 1330 GMT (9:30 a.m. EDT).
The world's biggest diamond group, De Beers, found a 316.7 carat diamond at its South African Venetia mine in January, the largest-ever find at Venetia.
The largest-ever gem, the Cullinan, weighed in at 3,106 carats when De Beers discovered it in 1905, but other massive diamonds have ranged around 600-900 carats.
In 1986, De Beers discovered the 755.5-carat Golden Jubilee, which is now the world's largest polished diamond at just over 545 carats.
A spokesman for Nare said the discovery does not necessarily mean the mine holds other sizeable gems since it is from an alluvial deposit -- a former river bed where diamonds were swept from a smattering of other eroded deposits.
Nare, which has three other diamond projects, is planning to list on the London stock exchange around the middle of the year.
Awesome Diamond Ring Experience With SuperbCert!!
Dear Barry and Judah,
I want to let you know how happy I am with my Vatche, SuperbCert ring. I have been married for 11 years and have 4 kids but keep looking at my hand like a newly engaged woman. I have always admired both of my grandmothers' classic style rings. I knew I wanted a classic timeless piece but I was indecisive with my decision. First planned on going with an emerald cut like my one grandmother had. But I decided in the end to go with a round brilliant set with baguettes on the side like my other grandmother has. It is a classic style in platinum. I am thrilled with the result. The SuperbCert center diamond is beautiful. Actually, its the prettiest diamond I have ever seen! It sparkles even in very dim light.
When I was in the process of deciding on a setting, it was very helpful and gave me more confidence in your integrety when you sent me a vatche sample ring set with CZ in platinum so that I could inspect vatche's work before comitting to buy. The workmanship on the final product is obvious. A beautiful diamond in a poor quality setting can ruin the look of an expensive diamond. Once I saw the Vatche sample setting though I got over that worry.
The first thing I did was take the ring to be appraised to make sure I got a good value and to add the ring to my insurance policy. The gemologist showed me on the girdle of the diamond the inscription of the diamond certificate number. He also went over the plots on the certifcate and how they matched my diamond. My appraisal came out a few thousand more than I paid.
Overall, I am VERY pleased with this ring, and would recommend your company to anyone in the market.
I look forward to working with you on putting together diamond stud earrings.
MarJ
Gold to go to $3000, Analyst Predicts!
GOLD is going to go to $3,000/oz as more geo-political problems arise and US investors start to take interest in the yellow metal, forecasts Gold Anti-trust Action Committee (GATA) chairperson, Bill Murphy.
“Even though we’re at $620/oz now we expect it to go to $3,000/oz… there has been no real interest from the people in the US yet as the stock market there is still fine.
“We believe that with the other problems that are going to surface, the US deficit problems and the dollar, gold is going to be the place to be… the fireworks are just beginning,” said Murphy.
He was speaking on the week nightly business show, the Moneyweb Power Hour, broadcast on Radio 2000.
The fireworks are just beginning.
He was commenting on the recent plunge in the gold price from 25-year highs. The gold price climbed as high as $644/oz in early morning trade on Thursday but later plunged back down to $610/oz. Murphy described this as a “healthy correction”.
“This correction won’t last too long… It’s expected. It’s healthy. I think we’ll be back up again in the near future.”
Unlike many gold analysts Murphy believes that this current gold market is not speculative, as open interest in the gold price has not gone up as it has done in the past.
Gold has rebounded today to $630/oz.
Crude Oil Hits $75.00: Effects on Diamond Sales?
Crude-oil futures climbed to a high of $75 per barrel Friday for the first time ever for a front-month contract on concerns about tensions surrounding Iran's nuclear activities, violence in Nigeria, and tight U.S. supplies of unleaded gasoline. June crude was last up $1.26, or 1.7%, at $74.95 per barrel. "We often see this sort of short covering in a record-setting bull market ahead of a weekend, since nobody is sure where we may be Monday," said trader Kevin Kerr, who is also editor of MarketWatch's Global Resources Trader.
With Mother's Day and Summer Travel season/vacations approaching, Jewelers are uncertain what effect this will have on Diamond engagement rings / Jewelry sales.
Hey! Do you know What a Bottega-Venatta Is?
Either did I, since Bottega Veneta may not be as widely recognized as its more famous luxe-label sisters, but to wealthy consumers, the lesser-known line is the most prestigious luxury fashion brand.
In the 2006 Luxury Brand Status Index survey (LBSI) of Luxury Fashion Designers conducted by the New York-based Luxury Institute, Bottega edged out both Hermès and Armani to claim top rating.
The Luxury Institute surveyed a national sample of more than 500 households with a minimum of $200,000 in gross annual income and a minimum net worth of $750,000.
Bottega Venatta handbag. Only $3850.00
Wealthy customers who were surveyed rated 21 leading luxury fashion brands based on their perceptions of critical brand reputation metrics. Brands rated included: Armani, Bottega Veneta, Burberry, Calvin Klein, Chanel, Christian Dior, Coach, Dolce & Gabbana, Façonnable, Fendi, Ferragamo, Gucci, Hermès, Hugo Boss, Izod, Lacoste, Louis Vuitton, Marc Jacobs, Polo Ralph Lauren, Prada, Versace and Yves St. Laurent
Bottega Veneta's relatively low public awareness level of 21 percent, versus Hermès, which garnered 55 percent recognition, and Armani, which drew 74 percent, portends a strong future for the classic Italian brand, which is part of the Gucci Group portfolio.
"Those who know the brand rated it highest in quality, highest in uniqueness and exclusivity, as the brand most used by people who are admired and respected, and the brand most able to make its customers feel special," Milton Pedraza, CEO of the Luxury Institute, said in a release. "No surprise then, that it was rated the most worthy of a significant price premium."
The Luxury Institute's independent surveys are designed to measure brand performance from the perspective of the wealthy consumer. Publications include the monthly Wealth Report, the Luxury Brand Status Index surveys, the Luxury Best Practices surveys and the Luxury Consumer Experience Index surveys.
Now You Can Buy Her Diamond Engagement Ring In Your Frozen Food Section.
At one time the single person --who was in search of a partner-- might have been found lurking near the one-person meal display in their local supermarket.
Now, Irish Supermarket Chain, Tesco, thinks they have taken the business of romance a step further by stocking diamond solitaire rings.
The new Tesco ($83) ring features a 1/10th-carat stone in a 9-karat gold setting, while the most expensive ring -- at $2,307 -- will have an 18-karat gold setting and a 1-carat diamond.
Tesco's diamond solitaire rings went on sale in 26 stores displayed in secure glass cases, but Tesco Ireland said they have no immediate plans to follow suit.
The supermarket chain has employed its own team of experts to work with diamond suppliers and designers on what it regards as a new growth market in "the democratisation of diamonds."
"I like the idea that everybody can have a diamond without spending a fortune," said Susan Farmer, the public relations consultant for the Diamond Trading Company, the marketing arm of the De Beers group. "It is taking a bit of the magic away, buying your engagement ring in a supermarket. An engagement ring is something they will wear every day of their lives, so it's important to get the best you can afford."
However, Alison Ladd, the head jewelry buyer at Tesco, said, "Everyone wants the best possible stone, especially for that special piece like an engagement ring, but not everyone has deep pockets."
As Mel Allen used to say, "Howa 'bout that!" Sheesh, talk about taking the romance out of a very special moment.
In our opinion this move stinks.
Be Careful Shopping On The Internet.
Red Herring has an important article today on Internet amd e-mail Spam.
Nothing gets users clicking on spam emails like a little porn, security experts said Friday, suggesting that users respond to emails that have erotic content in them even if they suspect it is spam.
The percentage of users who click through and buy products from spam is highest for pornographic sites, compared to emails touting drugs, easy cash, or mystery shopping jobs, said CipherTrust, an email security company.
The user response rate for spam email touting erotic sites is about 5 percent, compared to the response rate of about 0.02 percent for emails selling pharmacy drugs. Spam emails hawking Rolex watches, for instance, get even lower attention from recipients, averaging a response rate of just about 0.0075 percent, said CipherTrust.
“Porn sells, and that has been the case in the real world and on the Internet,” said Dmitri Alperovitch, research scientist at CipherTrust.
Meanwhile, U.K.-based antivirus and anti-spam company, Sophos, said its latest report on the top 12 spam relaying countries over the first quarter of 2006 shows the United States continues to lead in terms of the total spam sent.
More spam is sent from U.S. computers than any other nation but that’s changing. As a continent, North America is now close to being overtaken by Europe, with both following Asia in terms of spam relayed, the company said.
Some 23.1 percent of spam worldwide between January and March came from the U.S., followed by China (21.9 percent) and South Korea (9.8 percent). France ranked fourth (4.3 percent) followed by Poland, Spain, and Germany.
“Two years ago, the U.S. accounted for over half of all spam sent to the world. Now it is less than a quarter, evidence which confirms more Americans are waking up to the need to protect their home computers from malicious hackers,” said Graham Cluley, senior technology consultant for Sophos (see US Tops Spammers List).
Spam Tricks
Pornography may be the current flavor that appeals to users but many are beginning to respond to other kinds of messages.
“What works in spam is similar to what works in advertising,” said Joel Smith, chief technology officer at AppRiver, a Florida-based email security company. “Things like weight loss, work at home, get rich, those are beginning to find an audience.”
Though the clickthrough rate for spam seems small, security experts said it is enough to keep spammers in business. Spammers typically send out millions of messages every week at a very low cost, so just a few responses make a difference, said experts.
“Spam filters catch about 95 percent of the stuff that is sent,” said Mr. Smith. “From what gets through, we have seen clickthrough rates of about 1-2 messages per million.”
Still, phishing remains the best bet for online scammers, said experts. Phishing emails are just about 2 percent of all spam emails but they get the highest return rate because they target specific recipients, said experts. Phishing sites try to trick consumers into providing private identification information about themselves by masquerading as a legitimate site, such as a credit card company.
“We see an average of about 20 people submit their personal information to every phishing site,” said CipherTrust’s Mr. Alperovitch. “And this is considering the fact that most phishing sites stay around for just a couple of hours before they are taken down or disappear.”
More than $182 million was lost in online fraud in 2005, compared to $68 million in 2004, according to the Federal Bureau of Investigation’s Internet Crime Complaint Center.
Bottom Line: DO NOT OPEN e-mail you do not recognize.
New Diamond Mine Exploration Continues.
Reuters reports today that Angola’s state run diamond company, Endiama, has entered into a joint venture exploration partnership with Russia’s diamond company, ALROSA, to explore a new diamond concession in the province of Luanda-Norte. The two companies announced on April 21 that the project, named Cacolo, will survey a 4,000 square km area over a five year period..
As part of the agreement, ALROSA is obligated to invest a minimum of $14 million in the prospecting stage but said that the figure will likely be higher.