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Z Trends focuses on Floral Jewelry

2008-08-01T15:49:00.000-07:00

Zales has released its newest "Z Trends" feature on its website, with this month's focus on flowers. Everything's coming up roses, daisies, gardenias, and more at Zales in fine jewelry that is pretty and fashionable for Summer 2008.

Whether bright and bold or distinctly feminine, Zales.com's Z Trends has plenty of options to help customers cultivate one of the season's freshest trends.

"Flower jewelry has made a huge splash this summer," said Steve Larkin, Sr. Vice President of Marketing and eCommerce at Zale. "It's a pretty look that is easy to wear and complements every woman's fashion."

Dozens of pendants, bracelets, brooches and rings seem to come right from the hothouse but in sterling silver and gold, and are accented with diamonds, pearls, opals and a rainbow of colored gemstones.

Clustered diamonds in the shape of flowers adorn stud earrings and lariat pendants. Citrine and garnets are used in a dramatic drop necklace.

Multi-colored birthstone blossoms wrap around a wrist in a pretty bracelet. Amethyst and diamonds create a sensation set in yellow gold. In total over 150 items available at Zales.com are inspired by this budding trend.

Each Z Trends column explores one of the season's hottest looks in fashion and fine jewelry, providing the site's visitors with the most current trend information and allows them to shop for the look that suits them best all within the same website.

Z Trends will be updated monthly, and all of the merchandise offered is available on the zales.com website. Floral-inspired pieces range from $19 to over $5000.

"Some of the flower jewelry on Zales.com costs no more than an arrangement you'd get from a florist," adds Larkin. "The difference is these flowers will last the rest of her life."

De Beers' Forevermark opens grading labs

2008-07-30T12:26:00.000-07:00

Forevermark, a separately managed division of the De Beers Group formerly known as De Beers Group Marketing, announced the opening of the first Forevermark diamond-grading laboratories this week.

The labs, which are located in Antwerp, Belgium, and Maidenhead in the United Kingdom, will grade only diamonds that meet Forevermark standards.

At the same time the diamonds are graded, they will be inscribed with the Forevermark icon and an identification number.

In addition to the opening of the labs, Forevermark announced the launch of a new Web site for Forevermark Diamantaires, Forevermark.com/Diamantaires.

To be considered a Forevemark diamond, stones must be at least 0.18 carat, SI2 clarity, J color and have a cut rated "good."

In a statement, Forevermark Chief Executive Officer Francois Delage called the opening of the labs a "historic moment" for Forevermark.

"We believe that by offering Forevermark diamantaires the opportunity to have their Forevermark diamond accompanied by a Forevermark grading report we are meeting the needs of consumers, jewelers and diamantaires. Forevermark grading laboratories will use the most advanced technologies and offer the highest levels of integrity, consistency and quality," he said.

De Beers Opens First Mines outside Africa

2008-07-29T15:16:00.000-07:00

De Beers on 25^th July 2008 officially opened its first two mines outside of Africa—Snap Lake and Victor Mines in Canada.

Together Snap Lake and Victor Mines are expected to produce two million carats per year.

“Never before have we opened two mines at the same time and never before have had we opened a mine outside of Africa,” Nicky Oppenheimer said. “It is gratifying to see not only the contribution these mines will make to De Beers but the contribution they are already making to the communities in which they are based.”

Jim Gowans who is overseeing the development and launch of both mines added, “It has taken us several years and over $1 billion to build each mine. We have also built strong relationships with local communities, and upheld the highest environmental standards. I’m very proud of what we have accomplished.”

The Snap Lake Mine located in Canada’s Northwest Territories. It is the country’s first fully underground diamond mine, De Beers said. It will employee 560 people during production and will have an annual production rate of 1.4 million carats. The mine life is expected to be close to 20 years.

The Victor Mine, located near Attawapiskat First Nation in northern Ontario, will be the province’s first diamond mine. It will employee 400 people during production and will have an annual production rate of 600,000 carats. Victor is one of 18 kimberlite pipes discovered on the property, 16 of which are diamondiferous. The Victor kimberlite has a surface area of 15 hectares and consists of two pipes that coalesce at the surface: Victor Main and Victor Southwest. The mine will be open-pit with an expected life of 12 years and a total project life of 17 years.

De Beers notes that more than C$650 million has been spent with Aboriginal businesses.

In addition, agreements have been reached with the Governments of the Northwest Territories and Ontario for De Beers to make available for sale ten percent of diamonds from the Snap Lake Mine and Victor Mines, by value, to provincially approved manufacturers who have successfully fulfilled the Diamond Trading Company’s client selection criteria.

African Diamonds Declares Dispute over AK6 Joint Project with De Beers

2008-07-25T11:15:00.000-07:00

AIM-listed Botswana diamond exploration company African Diamonds has said that De Beers will not accept the terms of the mining license from the Botswana government on the AK6 diamond deposit. De Beers, it added, wants to delay the project, citing power supply as the main reason.

African Diamonds, which made an offer to purchase De Beers’ stake in the mining project, with an aim at developing the mine according to a timetable submitted to the government, has declared a dispute in the terms of the shareholder agreement, according to Thomson Financial.

De Beers was not immediately available to comment.

African Diamonds has a 28.38 percent stake in Boteti Exploration, its joint venture with De Beers on the project. In April it was announced that Boteti’s mineral license application had been approved by the government.

“The shareholders of Boteti anticipate that the final negotiations will be concluded with sufficient time to enable AK6 to be in production by the end of 2009,” the April statement read.

John Teeling, chairman of African Diamonds, said at the time, “We believe we have the full backing of De Beers and the government of Botswana to move this world-class project toward production.”

De Beers has claimed that the economics of the project are hindered by power supply issues. It therefore reported to the board of Boteti that the project should be delayed.

FATF Published Guidance Document for Precious Stones

2008-07-23T12:13:00.000-07:00

The Financial Action Task Force has approved a detailed guidance document for the precious stones and metals trades. The Antwerp World Diamond Centre (AWDC) said in a release that it welcomed the move.

The document lays out how a more sophisticated a risk-based approach can be developed for those who deal in precious metals and stones, including the diamond industry. For the diamond business, this means that the specific concerns of the diamond industry will be taken into account more adequately.

Issues specific to the diamond trade addressed in the document include the physical inspection of diamonds at the official import-export offices, business with registered diamond dealers and bourse members, the Kimberley Process Certification Scheme for rough diamonds and a payment system through recognized and specialized banks.

AWDC notes that it was extensively involved in the consultation process that let to agreement on the guidance document, since the summer of 2007. The approval was announced at the FATF plenary in June.

FATF is an inter-governmental body that works to develop policies to combat money laundering and terrorist financing.

AWDC spokesperson Philip Claes commented, “We welcome the fact that, with its new guidance document, FATF has finally recognized the positive impact that the structure, regulation and supervision of the diamond trade in Antwerp has had in reducing money laundering risk.”

The Belgian government was also involved in finalizing and approving the FATF guidance. AWDC noted that it will work further with the Belgian authorities in establishing a more adequate and efficient money laundering regulation for the diamond industry, which will be based on the new FATF guidance document operate within the framework of Belgium’s implementation of the anticipated third EU directive concerning money laundering.

Lakhi Marketing Patented Diamond Brand Online

2008-07-22T15:05:00.000-07:00

Sparklers International DMCC, part of DTC Sightholder Lakhi Group, will use Polygon as a strategic component in marketing their patented diamond brand, Pristine Hearts. The diamonds have a heart that appears to float within the diamond.

It took the company seven years of research to develop the brand, a collection of diamonds that “captures the meaning of true love in all its facets,” the company said in a release, adding that the Pristine Hearts diamond is the only diamond with a true heart shape inside, visible from the crown and the pavilion view.

The cut has 73 facets and each has a unique individual identification number. Lakhi uses J / SI goods and better in sizes of 25 pointers and larger for this line.

Sparklers International DMCC will be using Polygon to reach and locate retailers worldwide to carry the new diamond brand.

Online Moissanite Retailer Program Launched

2008-07-21T15:14:00.000-07:00

The creator of moissanite, Charles & Colvard, has launched an authorized Internet seller program for moissanite, a joint effort between Charles & Colvard and its web retailers. All of the e-commerce retailers in the program have been pre-screened, met the program criteria and have been sponsored by a Charles & Colvard distributor or manufacturer.

The ‘Moissanite created by Charles & Colvard^TM Authorized Internet Retailer Program’ retailers are HSN, JCPenney, Joseph Schubach Jewelers, Moissanite Collection and Moissanite Fine Jewelry.

Charles & Colvard explained the initiative as a response to an upsurge in consumers buying and researching jewelry on the Internet.

“For customers, shopping for moissanite through [this] program helps ensure satisfaction as well as helps to assure authenticity of the moissanite they purchase. Plus, by using the select group of retailers, it guarantees the customer their moissanite purchase is accompanied by the Charles & Colvard Certificate of Authenticity and Limited Warranty,” the company said in a release.

Court favors eBay in Tiffany trademark suit

2008-07-15T14:04:00.000-07:00

EBay has scored a victory in a trademark infringement suit brought by luxury jewelry house Tiffany and co, which alleges that counterfeits of its goods are being improperly sold through the auction site, Women's Wear Daily (WWD) has reported.

Federal judge Richard Sullivan ruled in favor of eBay, entering the decision at the U.S. District Court for the Southern District of New York on Monday, saying that it is the trademark owner's burden to police its mark. The ruling said that Tiffany failed to prove claims that eBay was liable for trademark infringement and dilution, false advertising and unfair competition for facilitating the sale of counterfeit goods.

According to WWD, eBay argued that it is simply a service connecting sellers with buyers, and that since it never holds the counterfeit goods in its own possession, it cannot be held responsible for their sale.

Just two weeks ago, a French court ordered eBay to pay LVMH Moet Hennessy Louis Vuitton 40 million euros (about $63 million), ruling that eBay did not do enough to prevent the sale of counterfeit goods on its site.

Gem Diamonds’ Yellow Diamonds Tenders Nets $28,860 p/c

2008-07-15T13:54:00.000-07:00

A tender of four intense and vivid polished yellow diamonds were sold in Antwerp for an average price of $28,860 per carat. The Gem Diamonds goods, mined at Ellendale, had a total weight of 15.7 carats.

One of the diamonds was a 7.1 carat cushion cut vivid yellow diamond which sold for $52,000 per carat. Another was a 2.3 carat cushion cut vivid yellow diamond which sold for $19,000 per carat.

The tender of the Ellendale goods follow recent trials on a selection of its white diamonds from the Letšeng Mine, known for their high quality and top prices. They, too, were cut and polished before they were sold.

According to Clifford Elphick, CEO of Gem Diamonds, “significant additional margin” can be made from selling their goods polished. “We are very encouraged by the results,” he added.

De Beers increases rough diamond prices by 5 percent

2008-07-14T11:00:00.000-07:00

LONDON (Reuters) - The world's biggest diamond producer De Beers boosted rough diamond prices by an average of 5 percent this month, the firm said on Friday.

The price hike by the group's marketing arm, the Diamond Trading Company (DTC), came amid strong demand for diamonds in Asian emerging markets and tight supply, which led to price increases of 8.5 percent earlier this year.

A De Beers official said last month that buoyant diamond demand from China, India and the Middle East would more than offset expected slower sales in the United States, which accounts for half of the diamond jewelry market.

De Beers, 45 percent owned by mining group Anglo American (AAL.L: Quote, Profile, Research ), made the price increase during the firm's July "sight" this week, one of 10 week-long events during the year at which the DTC markets rough diamonds to tightly-screened clients.

"Some increases have been made at the July Sight, the overall effect of which is plus 5 percent," De Beers said in an email in response to a query.

De Beers said in February that it expected a rebound in its rough diamond sales this year after a dip in 2007.

Sales fell 3.7 percent to $5.9 billion (2.97 billion pounds) last year, but supply shortages were expected to keep prices strong and help to lift the 2008 sales figures, De Beers had said.

De Beers, which controls around 40 percent of the diamond market, posted flat output of diamonds last year at 51 million carats and a steady result is expected in 2008.

Dubai and Thailand explore mutual trade opportunities for gems and colored stones

2008-07-09T15:36:00.000-07:00

UAE. Dubai Multi Commodities Centre (DMCC) and the Thai Gem and Jewelry Traders Association (TGJTA) signed an agreement today, making TGJTA the first affiliate member of the Dubai Gems Club (DGC), a strategic initiative of the Colored Stones and Pearls Division at DMCC.

This agreement will boost trade opportunities between Dubai and Thailand, both fast-emerging markets for gems and colored stones. Thailand, a major global gem trading and processing centre, is the second largest exporter of gems and jewelry in the world with annual exports over US$2 billion. The country enjoys rich natural deposits of ruby and sapphire and is known as the heart of South East Asian gemstone production and trade.

Under the terms of the agreement, TGJTA members will access DGC’s network of local and international markets. In addition, as an affiliate member, TGJTA will also have access to the dedicated trading facilities of the Dubai Gems Club located at Almas Tower. DMCC serves as an international hub bridging gemstone producing and consuming countries, and facilitates the trade of colored stones through Dubai via the Dubai Gems Club.

Gaiti Rabbani, Executive Director-Colored Stones and Pearls Division, DMCC, said: “We strongly feel that the colored stones industry needs a unified and comprehensive marketing strategy that will drive demand across the emerging consumer markets. DMCC’s affiliation with TGJTA will offer Thailand’s colored stones community a dedicated platform to further boost their trade, and will in turn positively impact the entire value chain of the colored stones industry. In addition, our partnership with TGJTA will add value to Dubai’s AED 70 million [US$20 million] annual colored stones trade.”

“The affiliate membership status is new to DGC and we are pleased to work with a reputable association such as TGJTA in this Endeavour. We expect to see an equally strong response from other respected international gemstone organizations as a result of the various benefits derived from this membership status,” she added.

Vichai Assarasakorn, President, TGJTA, said: “The TGJTA has always sought to lead the way in the international community to promote Thailand’s colored stones trade. Our association with DMCC will pave the way for a dedicated market for over 200 of our members. We look forward to partnering with the Dubai Gems Club to further develop the jewelry and colored stones trade.”

TGJTA was established over three decades ago to serve Thailand’s gem and jewelry traders and manufacturers. It has concentrated on creating a cohesive organization dedicated to developing and expanding the industry for the benefit of all. TGJTA’s leadership and members have served to grow what was once a cottage industry in Thailand into one of the world’s leading gem and jewelry manufacturing and trading centers.

Source: BI-ME

ICA to Hold International Gem Show in Dubai

2008-07-08T15:37:00.000-07:00

The International Colored Gemstone Association (ICA) will hold its first ever international gem show focused on the loose colored gemstone industry. The ICA International Gem Show Dubai 2008 will be held October 13-15.

The event is the first gem show held under the patronage of the Dubai Multi Commodities Centre (DMCC). “Dubai is rapidly becoming recognized as the gateway for commodities to the Middle East. Favorable importation duties for exhibitors and buyers make this an optimal B2B experience for all attendees,” the ICA said in a release.

All suppliers at the show are ICA, DMCC or Dubai Gems Club members Show organizers note that, because the event is focused entirely on colored gems, it is a better environment for this sector of the industry to do business. “Our aim is to organize a show featuring the essence of the industry,” explained ICA President Andrew Cody.

The event will be held at Al Bustan Rotana and airport pick-up service will be provided for attendees. A cocktail reception, gala dinner and fashion show will also be on the line up. The last day of the show is open to the general public.

Gitanjali Gems Interested in Whitehall

2008-07-08T15:35:00.000-07:00

Indian diamond and jewelry manufacturer and retailer Gitanjali Gems is among the companies interested in buying the Whitehall Jewelers Inc., according to a report in The Economic Times of India.

The company is looking to pay in the range of $80 million to $90 million for the Chicago-based jewelry chain, which recently filed for bankruptcy protection, according to the publication.

Gitanjali’s bid for Whitehall is part of Indian company’s move to strengthen its foothold in the U.S. jewelry market, according to the publication. US diamond jewelry sales account for about 50 percent of the global diamond jewelry sales. Diamond jewelry sales comprise 55 percent of total jewelry sales in the US.

In 2006, the company acquired US-based Samuels Jewelers.

Whitehall Jewelers Holdings, which operates Whitehall jewelers Inc., is controlled by private equity firm Prentice Capital Management. It operates approximately 373 retail stores in 39 states under the Whitehall and Lundstrom brand names, and employs 2,852 people.

Gitanjali Gems's principal activity is to manufacture, export, and market jewelry, according to Thomson Financial. It operates in two segments namely: Diamonds includes manufacturing and export of cut and polished diamonds and sales in local market. Jewelry includes manufacturing and export of plain gold and diamond studded jewelry. The Group markets its products under the brand names namely D'Damas, Asmi, Sangini, Nakshatra, Gili, Giantti, and Collection G. The diamond manufacturing facilities are located at Borivali in Mumbai and at Surat in Gujarat. Its products are exported to the United States, Europe, Hong Kong, Japan, China, Middle East, and Thailand. In April 2007, the Group acquired D 'Damas Jewellery India Private Limited and in May 2007, acquired Gitanjali Lifestyles limited. Also during the year it acquired Gitanjali Ventures DMCC, Dubai and Gitanjali, USA Inc.

Jewelry Television Web site starts accepting PayPal

2008-07-07T15:49:00.000-07:00

Jewelry Television (JTV) and PayPal announced today that Jewelry Television's Web site, jtv.com, will now accept PayPal for purchases of jewelry, gemstones and other collectibles.

PayPal is chosen by millions of online shoppers for its ease of use and high level of security.

JTV has chosen to partner with PayPal after reviewing consumer research indicating that U.S. online consumers have a high level of trust with PayPal and many shoppers would not purchase online unless PayPal was an option.

When paying with PayPal, the consumer's financial information is not shared with the merchant, ensuring the highest level of protection and security.

Consumers can also choose from various payment options to fund transactions including credit card, bank account and PayPal account balance. Using only an email address and password, PayPal account holders can quickly and easily complete transactions in seconds.

"We are thrilled that PayPal users can now buy their favorite jewelry and gemstones at www.jtv.com," said Dana Stadler, General Manager of Merchant Services and Marketing at PayPal. "PayPal's virtual wallet offers www.jtv.com customers the convenience of paying in the way they prefer."

jtv.com features more than 40,000 jewelry and gemstone items. "Adding PayPal as a payment option gives our customers more choices and greater convenience," noted James Thome, Senior Vice President, E-Commerce at Jewelry Television. "PayPal's millions of customers can now experience the unparalleled selection and value available at www.jtv.com," he said.

In addition to using PayPal, Jewelry Television customers can use most major credit cards to make purchases at the site.

Source :- PayPal

Charles and Colvard launches WhatIsMoissanite.com

2008-07-03T15:10:00.000-07:00

New York—Lab-created moissanite source Charles and Colvard is launching a new, interactive Web site, Whatismoissanite.com, to help consumers and jewelry retailers understand the unique jewel.

The site, launched during the second quarter, educates consumers about what moissanite is, how it came to be and how it's different from other gemstones. In addition, the site also educates retailers who sell jewelry set with Charles and Colvard-created moissanite.

"The marketing and advertising of gemstones and jewels, particularly on the Internet, can be confusing and, in some cases, misleading to the public," Charles and Colvard Chief Executive Office Bob Thomas said in a media release. "On Whatismoissanite.com, consumers will find fully documented information that serves as an excellent tool in helping them identify and truly understand why moissanite is such an amazing jewel."

Whatismoissanite.com offers the following educational tabs:

A Unique Jewel: Explains the characteristics and science behind the jewel's brilliance, fire, hardness, durability and stability.

Compare Moissanite: Explores the differences between moissanite, diamonds, cubic zirconia and other gemstones.

History: Details the history of silicon carbide and its transformation from its discovery more than 110 years ago into the unique jewel known today as moissanite.

Creating Moissanite: Details the course of turning rough silicon carbide into moissanite jewels, the process of grading and hand-faceting moissanite, as well as identifying the benefits of the company's certificate of authenticity and limited warranty.

Learn more: Frequently asked questions, including a glossary and video answers by world-renowned scientist and gemologist Dr. Kurt Nassau.

For more information about moissanite and Charles and Colvard, visit Moissanite.com, Whatismoissanite.com or Brillianceofme.com.

Namibia: Erongo Small Miners Get EC Funding

2008-07-03T15:01:00.000-07:00

The Erongo Region Small Scale Miners Association (ERSSMA) has received N$8,3 million from the European Commission (EC) to enable them to effectively mine tourmaline gemstones in the region.

The money was channeled through the National Planning Commission to the Erongo Regional Council, which also contributed 5 percent towards the N$8,3 million.

The Erongo Region's stakeholder’s forum, including some mines in the region and constituency councilors, mines ministry, Geological Survey of Namibia and the small miners themselves, approached the EC on behalf of the small miners and successfully secured the grant.

The small miners are currently mining the tourmaline stones without proper equipment using rudimentary equipment such as 'koevoets' and hammers for the past 13 years or more, while some of the equipment is even handmade.

Some of the self-employed miners, who come from other parts of the country, have been camping along the Karibib-Otjimbingwe gravel road and walk to the nearby mountains - as far as 20 km - every morning to mine the gemstones.

The gems are mined at privately owned farm Neue Schwaben.

"We are working under harsh conditions without water. We use water that gathers in the holes that we dig for our daily use," said August Tsowaseb, a miner at the site.

Tsowaseb said they need machinery, especially to clean up the area and move some of the earth they dig out.

"It is good business if you are lucky. Sometimes you can get up to N$6000," Tsowaseb added.

The Deputy Director for Planning at the Erongo Regional Council, Vikurupa Kavendjii, said the regional council will buy equipment such as jackhammers and compressors for the small miners, once everything is sorted.

Some equipment has been bought already, while a consultant is looking at the small miners' 'shopping list', Kavendjii said.

He also added that the stake holder’s forum looked at the basic needs, marketing and processing needs of the small miners.

"I think small mining is becoming a major player. We realize some stones are even more valuable than diamonds."

The small miners now also receive training in semi-precious stones, cutting and polishing as well as in business and marketing areas.

"Sometimes they find blue tourmaline stones and don't even know their value," added Kavendjii.

The council is also planning to expose the small miners to a highly specialized country in small-scale mining such as India, in future.

The stakeholders forum has also developed a website, in order to market the semi-precious gemstones.

Kavendjii said the council is planning to build a proper marketing centre 30 km outside Usakos on the Swakopmund road, where a number of small miners are already showcasing their products.

The small miners might be asked to form cooperatives in order to use some of the large equipment such as compressors in groups.

A small rental fee will be charged for the equipment.

Kavendjii said a fund will be set up from this money to maintain and service the equipment.

About 1600 small miners, in all the constituencies where small-scale mining is taking place in the region, will benefit from the equipment.

Charles & Colvard, K&G Creations in Dual Lawsuit Battle

2008-06-30T15:41:00.000-07:00

K&G Creations and its former moissanite supplier Charles & Colvard have filed lawsuits against one another. Charles & Colvard announced June 16 that it had filed suit against K&G, seeking to recover $2.8 million, plus interest, “for moissanite jewels delivered and sold” to K&G.

A major customer of Charles & Colvard since 1998, K&G’s manufacturing agreement with the moissanite creator was terminated December 31, 2007.

K&G Creations on June 26 announced that it was filing a counter-suit against Charles & Colvard, seeking $50 million “for damages resulting from Charles & Colvard’s breach of its contract with K&G and fraud,” and alleging that, over the last four years, “Charles & Colvard engaged in practices that ruined K&G’s reputation and ultimately forced K&G out of the moissanite business.”

The lawsuit filed by K&G Creations accuses Charles & Colvard of “tortuous interference, unfair competition, breach of contract and fraud,” according to a release, as well as negligence on the part of Bob Thomas, who it claims was aware of and failed to correct “damaging actions on the part of Dennis Reed (President), Barbara Mooty (Director of Marketing) and others.”

Neil Koppel, president of K&G Creations, claimed that the company has proof that, “as far back as 2001, Charles & Colvard conspired to defraud K&G Creations by not honoring the pricing of the moissanite jewelry that was contractually agreed to.”

K&G Creations also stated that it is looking for other shareholders to come forward to join in a class action lawsuit.

EDiamondselect partners with Rachminov

2008-06-30T15:28:00.000-07:00

Fancy-color diamond supplier adds 60,000-plus stones to site
Diamond software solutions provider eDiamondselect has chosen Rachminov Diamonds as the site's exclusive source of natural fancy-color diamonds.

Rachminov offers a wide range of natural fancy-color diamonds from melee to large special stones in an array of colors, including yellow, orange, pink and blue.

The new partnership will give eDiamondselect retailers exclusive online access to one of the most extensive and highest-quality lines of natural fancy-color diamonds available in the industry, eDiamondselect Vice President of Sales David Norman said in a media release.

"As a result of this partnership, eDiamondselect now has more than 25 suppliers providing an inventory of more than 60,000 diamonds on our site," he said.

Since the most recent JCK Las Vegas show and Continental Buying Group Show, eDiamondselect has added more than 40 new retailers to the program, including Bernie Robbins Fine Jewelers, Smythe Jewelers and Topper Jewelers.

The company says eDiamondselect is ideal for both large and small retailers, allowing major jewelers to become more efficient, productive and profitable in their diamond business, and also turning independent retailers into mega diamond sites.

The software can be integrated directly into a retailer's Web site, so that customers can remotely search the store's and suppliers' inventories. Jewelers can also use the software in-store, showing customers an extensive online inventory of diamonds and helping them choose their perfect stone, which can be shipped to the store within 24 hours.

Jewelry Show showcases local and national artists at State Fairgrounds

2008-06-26T16:01:00.000-07:00

Filed under indystar.com--There are not many places in town where residents can find items ranging from a dollar glass bead to a five thousand dollar gem-laden bracelet to a priceless million-year-old fossil all under one roof. For three days in July, these one-of-a-kind finds will be showcased at the GemStreet USA Show & Sale, July 18-20, at the Indiana State Fairgrounds "Pioneer our Land" building.

This national show that specializes in jewelry, beads, gemstones, crystals, minerals and fossils comes to Indiana featuring a host of international artists, as well as several local artists, who will showcase their jewelry.

There are not many places in town where residents can find items ranging from a dollar glass bead to a five thousand dollar gem-laden bracelet to a priceless million-year-old fossil all under one roof. For three days in July, these one-of-a-kind finds will be showcased at the GemStreet USA Show & Sale, July 18-20, at the Indiana State Fairgrounds "Pioneer our Land" building.

Zales Premiers Fashion-Forward Column on Website

2008-06-26T15:59:00.000-07:00

Zales Jewelers recently introduced a new fashion-forward feature on its website, http://www.zales.com/. The new “Z Trends” column will focus on the season’s ‘in’ looks, each month, from both the runway and the red carpet and everywhere in between.

The column will also give site visitors regularly updated news and information about the selection of fine jewelry and accessories available at Zales.com.

The first column, which premiered this week, highlights the latest trends for pearls, the oldest precious gem, according to the firm. Pearls, says Zales, are showing up everywhere this season from traditional stud earrings to diamond jewelry enhanced by the pearls.

The latest color trends in pearls, which include chocolate, brown, khaki and pink, are also featured in this month’s column, including an assortment of rings, pendants, necklaces and earrings featuring the stone.

"The Z Trends feature is a great new resource for busy consumers who want to keep up with the latest styles and trends in fine jewelry," said Steve Larkin, Senior Vice President of Marketing at Zale Corporation.

Z Trends will be updated monthly, and all merchandise offered will be available on the website.

True North Gems' Ruby, Pink Sapphire Licenses Renewed on Greenland

2008-06-26T15:57:00.000-07:00

True North Gems' licenses were renewed at the 110 km2 Fiskenaesset property, which is contiguous with and adjacent to the company's 713 km2 Qaqqatsiaq ruby exploration license, on the southwest coast of Greenland. The approval was granted by the Bureau of Mines and Petroleum and the Joint Committee on Mineral Resources for Greenland and Denmark.

The formal ratification of the Fiskenaesset license, valid now through December 31, 2012, maintains True North's total land position of 823 km2. The Fiskenaesset license was originally acquired by Brereton Engineering & Developments Ltd. in March 2003. True North optioned the property in April 2004 and the obligations to Brereton under the terms of this option agreement remain in effect.

The Fiskenaesset license consists of three separate property blocks (designated sub-areas) which cover more than thirty known ruby occurrences, as well as extensive areas of prospective geology for the occurrence of ruby and pink sapphire mineralization. Exploration within the Fiskenaesset license has been advanced by True North Gems since 2004 and detailed assessment of the high grade Aappaluttoq prospect was initiated by True North Gems during 2006 and 2007. The 2008 exploration program has the objective of acquiring sufficient information to advance Aappaluttoq to the pre-feasibility stage.

Blue Nile sued for Trademark Infringement

2008-06-25T16:27:00.000-07:00

Diamond jewelry manufacturer Hearts on Fire has sued online retailer Blue Nile for trademark infringement and unfair competition, Bloomberg reported. The company says Blue Nile is using keywords on the Internet to misdirect those who are searching for Hearts on Fire diamonds.

On the other hand Blue Nile, which isn't an authorized seller of Hearts on Fire diamonds, bought the search term ``hearts on fire'' from Webcrawler.com, a search engine that searches other search engines, according to the June 20 complaint filed in federal court in Boston.

Searchers who use that phrase end up at the www.bluenile.com Web site, Boston-based Hearts on Fire said in its court papers.

Hearts on Fire asked the court to order Blue Nile to quit infringing the trademark, and for money damages, including profits relating to the infringement. It also seeks attorney fees.

IGI offers batch testing for coated tanzanite

2008-06-25T15:19:00.000-07:00

New York—The International Gemological Institute (IGI) will now offer batch testing to detect all surface-coated tanzanite.

This is in response to a recent incident where the IGI identified a cobalt-surface-coated tanzanite, a treatment that is not considered to be permanent and, according to Federal Trade Commission guidelines, must be given full disclosure at the point of sale.

The IGI's tanzanite batch testing includes a quality-assurance document describing an individual stone's weight, shape and color, and attests to surface-coating treatments the stone has undergone, if any.

A minimum of 10 submitted stones, regardless of individual weight, is required for batch testing, which costs $50 or $5 per stone. If less than 10 stones are submitted, the batch fee remains at $50. Turnaround time is 24 to 72 hours.

The IGI was founded in 1975 and is located in Antwerp, Belgium; Bangkok, Thailand; Dubai, United Arab Emirates; Hong Kong, India's SEEPZ Zone; Kolkata, India; Los Angeles; Mumbai, India; New Delhi, India; New York; Tokyo; and Toronto.

The institute has been an instrumental contributor in the development of the first tanzanite-specific grading system as well as the first laboratory to issue reports in accordance to the Tanzanite Foundation's trademarked Tanzanite Quality Scale.

For more information about the IGI, visit its Web site, IGIWorldwide.com.

Madagascar trip

2008-06-25T15:18:00.000-07:00

TRADE: Deputy Commerce Minister Wiroon Techapaiboon will lead a trade mission to

Madagascar

in mid-July, with the African nation's ban on exports of gems and precious rough stones high on the agenda.

Mr Wiroon said that the ban, which took effect in February, delivered a big blow to Thai jewellers as they were facing a shortage of raw materials.

The Thai jewellery industry depends mostly on imported raw materials. Most of the rough stones and gems imported from Madagascar are sapphires and rubies.

Daniel E.H. Dele'vauz, the honorary consul of Madagascar said that lifting the ban just for Thailand was unlikely, but he said joint ventures between the two countries to set up cutting factories in Madagascar were highly viable.

Rio eyes India diamond mining lease

2008-06-24T14:30:00.000-07:00

Rio Tinto Ltd says it could develop India's first world-class diamond mine after lodging a mining lease applications for its Bunder diamond project in that country.

It also announced a diamond mineralization exploration target at the project of between 40 million and 70 million tonnes at a grade of between 0.3 and 0.7 carats per tonne. This is three times greater than the grade at India's only other hard rock diamond mine, Panna.

The Bunder project was discovered in 2002 and the results of an `order of magnitude' study are expected by the end of the third quarter of calendar 2008.

A pre-feasibility study will follow, involving social and environmental studies.

Environmental approval for a 10 tonne-per-hour dense media separation plant is expected soon from the Madhya Pradesh provincial government, which will allow the processing of bulk samples at the project site.

"We have spent more than 100 crore rupees (more than $A26 million) over the last six years on diamond exploration and evaluation in India," Rio Tinto's managing director in India Nik Senapati said in a statement on Monday.

Rio Tinto produces diamonds at its Australian, Canadian and African mines, and processes the majority of these in India.

"Rio Tinto's strategic alliance with the Indian diamond industry, built over the past 25 years, has enabled it to gain a deep understanding of India as the world's largest diamond cutting centre and as one of the key emerging markets for diamond demand," the company said in a statement.

Determining gemstone authenticity by energy dispersive X-ray fluorescence spectroscopy

2008-06-24T14:15:00.000-07:00

Gemstones have been known to undergo various manipulations to enhance their perceived quality as technology advances, confirming the authenticity of gemstones becomes more and more difficult, creating a large demand for a non-destructive, time-efficient method of determining the composition of gemstones and precious metals One such method is energy dispersive X-ray Fluorescence (EDXRF) spectroscopy, a technique that enables a user to quickly and easily differentiate between a true stone and a fraud or determine if any chemical enhancements have been made.

In addition to stones, precious metals can be analyzed and quantified to identify their purities.

This application note examines the use of Shimadzu's EDX-720 spectrometer equipped with an Rh-lined X-ray tube to analyze gemstones of varying quality and precious metals at different purities, and how it can be used at any stage of the buying process.

Request a free brochure from Shimadzu Scientific Instruments...

Phu Quoc pearls may not be what they seem

2008-06-24T14:09:00.000-07:00

At the Dinh Cau night market, where tourists often meander after a day at the beach, pearls are sold at same booths as souvenirs and toys for only a few hundred-thousand dong.

Dozens of stalls at the Ham Ninh Market sell pearl earrings for VND10,000 (US$0.6) apiece alongside snacks and drinks.

One pearl necklace costs VND300,000 ($18) while another that looks nearly identical costs VND3 million ($180).

Market vendor Hong Dao said the latter was made of real Phu Quoc pearls, worth much more than the Chinese pearls used to make the cheaper necklace.

Khong Thi Thanh Truc, a partner in a Japanese-Vietnamese pearl company, said Phu Quoc pearls are 10 times more expensive than Chinese pearls.

Vo Van Doi, a pearl trader in An Thoi Town, said he had just sold a 12-millimeter pearl to a foreigner for VND15 million ($903).

Doi said it was not easy to find genuine Phu Quoc pearls because fakes have flooded the market.

He explained that fake pearls were easy to make but could be discovered by rubbing two pearls together.

Fake pearls would loose their enamel this way, he said.

Doi also said that putting a flame to pearls was an easy way to tell a fake as imitation pearls would shrink or be deformed by high heat.

But few shop owners would allow their pearls to be tested that way, he said.

A veteran trader on the island, Doi said the local pearl market is more complicated than ever as shops don’t provide credible evidence of the origins of their pearls.

And the fake pearls are everywhere, he said.

Even fishmongers and motorbike drivers often approach Doi with cheap fake pearls, asking him to sell them to tourists for a commission.

As an established trader, Doi said he always refuses such offers.

And it is not only fake pearls or Chinese imports that are hindering the island’s reputation, but even some Phu Quoc pearl companies now sell lower-quality freshwater pearls as opposed to those taken from seawater oysters.

Phu Quoc is located some 115 km off the coast of Rach Gia, capital of the Mekong Delta province of Kien Giang.

Sales “Medium,” Some Resistance to Prices at Hong Kong Show

2008-06-23T16:30:00.000-07:00

Sales and movement at the recent June Hong Kong Jewellery and Watch Fair were medium, according to exhibitors, and the overall show, taking into account foot traffic and buying activity, was good, but not great, especially in comparison to last year’s June event.

Sales were reasonable and were affected by the recent price hikes in the market, said the manager of one firm specializing in high-end, white goods. Following the weak JCK show and weakness in the U.S. market, along with high prices in Israel and Antwerp, buyers are resisting the prices. “We settle [the price] half way,” he said, indicating that the high prices are not holding.

Strong sales were noted in particular for 5-3 carat stones in the lower H-K color range. Indian buyers were reportedly offering cash for these goods and buying almost anything they could.

Traffic at the show was at a medium level, sales were acceptable and overall it was a good show, but not a great one, “Last June’s show was a great show, but we have to take into consideration all of the factors playing in the Asian market right now,” commented the general manager of the Hong Kong office of a large diamond firm specializing in fancy cuts..

“There are problems with the Vietnamese currency, for example, many people are unsure about what’s going on with the prices and this is only June – not the high selling season – so our expectations were not so high to begin with,” he said.

“The powers of the market are stronger than any speculations or predictions about price… and there is still movement,”

A fancy colored diamond distributor, who also described the show as “medium” and sales as “a bit too weak,” said that in terms of what was selling, it was mostly “common goods” –mid-range yellows – and buyers that were buying pinks and blues, were buying mainly smaller diamonds. He noted that, true to form, it was buyers from Asian countries like Japan and not from China, that were purchasing natural fancy colored diamonds.

The show’s organizers, CMP Asia, said that the event would see a record of 1,290 exhibitors from 33 countries and regions. The Diamond Pavilion in the expanded Grand Hall hosted upwards of 120 diamond companies in over 250 booths.

Russian Cutters Prefer Imported Rough Diamonds

2008-06-23T13:10:00.000-07:00

Alrosa has lifted prices for its rough by 20% to 25%, said Ararat Evoyan, head of the Russian Association of Diamond Manufacturers. "The stones have become more expensive than imports. It is cheaper to buy in Belgium now, although import schemes are very complicated, and so we are now working on the simplification of these schemes. We will announce our official reaction of the association on June 25,” he told Polished Prices.

In addition to the pressure of the new prices this month, next month Alrosa has said it will end its VAT deferred payment scheme, thereby increasing the upfront cash requirement on the part of the domestic cutters.

On top of this Evoyan said: "The summer season is usually a dead season for diamond industry. Work usually starts after September 20."

He added the domestic Russian problems coincide with the falling demand position in the US diamond market.

Edward Shtribesky, spokesman for leading Russian polisher Smolensk Kristall, said: "Since Alrosa considers this (price increase) as a normal step in the frame of market economy, which we seriously doubt, we have to apply our reaction. We must buy abroad simply to survive." He said Kristall has raised the value of rough imports since January of this year fivefold, compared to the same period of 2007 - from $10 million to about $50 million.

Maxim Shkadov, the Kristall chief executive, said that prices had grown by 6% in the first five months of the year, before Alrosa issued its June 1 increase.

Foreign suppliers are now "a lot less expensive," according to Shkadov. The result will be an increase in Kristall's prices for polished, he said.

"We’ll definitely have to raise our own prices, but we can't do that in jumps of more than 15%. We're expecting sales to drop until we get an analytical assessment of the market, so we can tell how we need to operate."

Until now, Kristall buys about two-thirds of its rough from Alrosa, paying a total for rough of about $250 million per annum. In 2007, Kristall generated $404.4 million in sales, up 13% on 2006. The plant's capacity is around 1 million carats per year.

Venezuela voluntarily withdraws from the Kimberley Process

2008-06-23T13:03:00.000-07:00

The inter-sessional meeting of the Kimberley Process Certification Scheme ended Thursday in New Delhi with Venezuela agreeing to withdraw from the KP for two years.

KP Chairman Rahul Khullar announced that Venezuela will not export rough diamonds for the next two years, and that a KP team will visit Venezuela to assess the situation and prepare a report before the next plenary meeting in November.

Meanwhile, India called for a crackdown on fake KP diamond certificates.

Earlier this month several NGOs called for the expulsion of Venezuela from the Kimberley Process due to noncompliance and continued refusal to allow teams from KP member countries to inspect Venezuela's diamond industry. The county produces an estimated 150,000 carats of diamonds annually, but has reported no official exports after January 2005.

Venezuela's diamond deposits are found in Bolivar State. Diamond mining is carried out by teams of small-scale miners. Partnership Africa Canada said the small miners are supposed to belong to co-operatives, which are required to submit a monthly report to the regional mining officials of the co-operative's production. "Good as this sounds in theory, in practice co-operative members largely co-operate in hiding their production, so that little in the way of taxes ever finds its way to the government," according to PAC.

From Tuesday through Thursday India hosted 200 delegates representing 35 countries to review the progress of the Kimberley Process. India's Commerce Secretary G.K. Pillai urged members to "find a solution to the problem of KP certificates. It undermines the very core of what KPCS wants to achieve. The problem must be addressed."

Pillai said India's diamond industry has provided jobs to more than 1 million people and had a 60% share of the world's polished diamond industry by value and about 82% by volume.

Story Dorothy Kosich from The International Business Times

Lawyers Duke It Out over Paraiba Lawsuit

2008-06-19T14:10:00.000-07:00

John P Hannon II, attorney for David Sherman and Paraiba.com, has fired back at American Gem Trade Association’s attorney Thomas Shuck, of the law firm Parker Milliken, Los Angeles.

Responding to the eight-page letter Shuck sent him last week Hannon tells Shuck he is trying to confuse the issue. “I believe you have intentionally misconstrued the nature of the claim by Paraiba.com and Mr. David Sherman as against AGTA and the remainder of your clients. The basic claim of my clients is fairly straightforward and involves nothing more complex than a suit to collect damages for your clients’ commission of consumer fraud.”

Shuck had spent a good deal of effort pointing out trademark precedent as well as historic reference and AGTA-accepted definition to the secondary use of the place name Paraiba as a color variety. Hannon says it’s still not legal.

“When the conduct of your clients in passing off inferior stones as Paraiba stones became apparent, your clients engaged in a cover-up of their actions. Rather than admitting to improper conduct on the part of members of AGTA, the members got together and simply redefined, not once, but twice, what constitutes a Paraiba tourmaline. This conduct of your clients is similar to something like members of a conspiracy agreeing that they can sell sausage with fiberglass filling and pass the sausage off as pure pork. The fact that your clients have agreed among themselves that their illegal actions regarding the marketing of inferior stones should be made legal after the fact by the redefinition of the Paraiba stone is of little importance. Your present claim that your clients have ratified illegal acts does not make the acts somehow legal.”

Soft, geometric moissanite piece takes prize

2008-06-19T14:08:00.000-07:00

The winner of a Charles and Colvard-sponsored design competition was flown to the JCK Las Vegas show earlier this month, where her winning moissanite piece was displayed.

The competition, launched in the United Kingdom last year, was created to raise awareness of moissanite in the jewelry industry and to promote that more than 71 percent of moissanite customers are women who buy for themselves.

Julie Wright, a designer from Devon England, won the 2007 competition and received an all-inclusive trip to the JCK show. Her winning design is a moissanite pendant set in 18-karat gold and valued at approximately $4,000. The piece was chosen as the winner because it reflects the trend for soft and geometric pieces, encompassed in an innovative design.

"We believe that last year's theme would show that moissanite, set into 18-karat gold, would lead to the creation of a more fashion-forward approach, and Julie's stunning piece demonstrated this concept quite flawlessly," Dennis Allen, who administers the competition for Charles and Colvard, said in a media release.

The first phase of the 2008 design competition, "Adventurous Moissanite," which encourages applicants to create bold and adventurous moissanite designs, has already begun. A panel of U.K. judges is reviewing all the design entries submitted in the form of jewelry renderings and sketches, and five semi-finalist renderings will be selected. Those designers will be given moissanite jewels up to a value of $1,000 to use in the actual manufacturing of their design. Finally, one finalist will be selected to win an all-inclusive trip to the Hong Kong Jewelry Fair in 2009.

Beware of blood diamonds, India warns (Lead)

2008-06-19T14:05:00.000-07:00

New Delhi, The guns may have fallen silent over "blood diamonds" but the situation remains fragile and it was necessary to ensure that diamonds sold by rebel groups who mine them illegally are not allowed to enter the global market,

India

told a global diamond conference here Tuesday.

"Our vigil is not over. And we must continue to be alert and active," Commerce Secretary G.K. Pillai told the annual conference on the Kimberley Process Certificate Scheme (KPCS) here. India is its current chair.

"The guns are becoming increasingly silent, but we must be alive to the fact that several fragile situations exist," he told the delegates from 34 out of 74 countries that are members of the Kimberly Process.

Under the initiative of the United Nations, KPCS seeks to ensure that only those diamonds that are sold by legitimate entities - as opposed to rebel groups - enter the global market.

"We must also find solution to the problem of fake KP certificates. It undermines the very core of what KPCS wants to achieve. The problem must be addressed."

Pillai said India's diamond industry, which registered export of over $13 billion last fiscal, was one of the biggest success stories, even though it was the IT industry that gets more publicity.

He said the diamond industry here provided jobs to over one million people and had a 60-percent share in the world's polished diamond industry by value and about 82 percent by volume.

Representatives from 34 countries are participating in the three-day conference, aimed at eliminating conflict or "blood" diamonds. India, which became its chair for a year beginning Jan 1, is hosting the conference for the first time.

Some of the key participating nations are Australia, the US, the UAE, Canada, Congo, Israel, Liberia, Namibia, South Africa, Russia, China, Britain, Romania, Brazil, and Tanzania.

Hong Kong June Fair Expanded; 1,100+ Exhibitors Expected

2008-06-16T14:58:00.000-07:00

The Hong Kong Jewellery and Watch Fair, to run June 19 - 22, is expected to see over 4,000 buyers from 89 countries and upwards of 1,100 exhibitors, making up stand-alone booths, as well as themed and group pavilions.

This year’s show will include an expanded diamond pavilion with over 120 diamond companies, a Jadeite Gallery, fine jewelry, silver jewelry and more.

In addition, for the first time, exhibitors from Singapore have organized a group pavilion. Antwerp, Mainland China, Italy, Japan, Korea, Taiwan, Thailand and the U.S. will also have a pavilion.

2008 marks the event’s 21st year, and show organizers say the attraction of the event lies in its time and size. “June is just the right time for jewelers to restock in the middle of the year. Over the decades, the fair has continually built on its success, with over 1,250 exhibitors from over 30 countries and regions taking part in the 2008 fair,” CMP Asia Director of Jewellery Fairs Celine Lau said.

“Strong export growth, good timing, perfect location and professional organization are just some of the factors which make it the largest mid-year jewelry event in Asia,” Lau added.

He also announced the expansion of the show this year to include the grand hall of the Hong Kong Convention and Exhibition Centre, which will provide space for an additional 300 booths.

Two pearl auctions, on June 16-18 and June 19-20, will be held in conjunction with the show, as will two seminars presented by the GIA and the Gemmological Association of Hong Kong (GAHK).

The June Hong Kong Fair is held concurrently with Asia’s Fashion Jewellery & Accessories Fair – June (AFJ), to be held at AsiaWorld-Expo (AWE). Buyers to the Hong Kong fair would be provided with free access to AFJ.

Business Barons from India & Thailand meet at FICCI Global Business Forum at the IIFA Bangkok

2008-06-16T14:24:00.000-07:00

Mumbai: - Czars from India and Thailand combined business with pleasure at the FICCI Global Business Forum that kicked off at Bangkok. The forum highlighted the huge untapped trade potential between India and Thailand, the two majors in the global gems & jewelry industry that was attended by business czars from India and Thailand.

It was discussed that India is not just strong in its culture but is also a very strong market, with an export of US $ 20.889 billion in 2007-08 and records a growth of 22 %. Out of this, India exports only 2% of its Jewelry to Thailand and has a tremendous potential to grow. Thailand on the other hand is the gemstone capital of the world. Thus, the FICCI Global Business Forum at Bangkok was an effort towards bilateral trade promotion activities such as to benefit the gem and Jewelry sector in both the nations.

The trade between Indian and Thailand has a huge untapped potential to grow. Inter Organizational collaborations and partnerships will help harness this potential. India and Thailand can work together to leverage their strengths to capture a larger market share in the American European and emerging markets of the world.

Speaking at the forum Mr. Mehul Choksi, Chairman, FICCI's Gem & Jewelry Committee said, "India and Thailand can work together to leverage their strengths to capture a larger market share in the American, European and emerging markets of the world. Inter Organizational collaborations and partnerships will help harness this potential".

Diamond bodies clarify labeling of synthetic gems

2008-06-16T14:15:00.000-07:00

Three major international trade organizations in the diamond and jewelry industry reached an agreement to abide by the new International Diamond Council (IDC) rules, particularly regarding terminology of synthetic diamonds, at the thirty-third World Diamond Congress in Shanghai.

The three organizations were the International Confederation of Jewelry, Silverware, Diamonds and Stones (CIBJO), the World Federation of Diamond Bourses (WFDB), and the International Diamond Manufacturers Association (IDMA).

The revised IDC rules included terminology that broadens the range of descriptors that can be used for gem-quality diamonds that have been created in laboratory or factory, and to date have been referred to as synthetic.

According to the new IDC rules, gem quality diamonds created in a laboratory or factory can be described as: synthetic; laboratory-grown; laboratory-created; or man-made; and the descriptor must always be followed by the word diamond or diamonds.

It was agreed that under no circumstances could the term ‘cultured' be used to describe gem-quality synthetic diamonds. At present, the International Confederation of Jewelry, Silverware, Diamonds and Stones' (CIBJO's) Diamond Blue Book only allows the descriptor ‘synthetic' to describe gem-quality synthetic diamonds.

"Concerning diamond nomenclature, we have been aiming to get IDC in line with the CIBJO for many years. This important achievement bodes well for the development of the future of international diamond grading standard and nomenclature," said IDC Chairman Stephane Fischler, who lauded the statement from the organizations as a milestone event.

Since their publication, the IDC stated that these rules have been the essential reference point for clear diamond terminology aimed at benefiting consumer confidence in diamonds.

Pluczenik Displays High Jewelry in Partnership with Chaumet

2008-06-13T14:16:00.000-07:00

At the recent JCK event in Las Vegas, Belgian DTC Sightholder Pluczenik displayed diamond jewelry selections from Chaumet, a prestigious jewelry brand, part of the LVMH group, as part of a partnership the two companies formally announced at the Baselworld show last year.

The partnership was signed with the aim that the two would “work together on supplying exceptional diamonds and developing their activity within the high jewelry segment, by increasing diamond content and especially the use of exceptional stones in Chaumet’s creations, including colored diamonds.”

The pieces displayed at the Vegas show were part of Chaumet’s current collections, including the “Abeille ring” – so called because of its bee shape, a Napoleonic symbol – from Chaumet’s “Catch me, if you love me” collection.

“In a way, Napoleon is our top salesman,” commented Thierry Fritsch, CEO of Chaumet. “That rich historical heritage is an essential ingredient of our brand.” Chaumet is a Paris-based house that first established its reputation as a jeweler to Emperor Napoleon, and whose current collection includes bracelets with love messages inspired by his gifts to Josephine.

The Abeille ring features a 3.45 carat fancy vivid orange diamond, set in yellow gold and white diamonds. The bee can even move its diamond-encrusted wings. It is valued at just under $2 million.

The Fifth China International Gold, Jewelry & Gem Fair, Guangzhou

2008-06-13T13:30:00.000-07:00

The Fifth China International Gold, Jewelry & Gem Fair, Guangzhou will be held from 13 to 16 June 2008 at Guangzhou Jinhan Exhibition Centre in Guangzhou. This year's fair would have the highest level of government support and the greatest numbers of exhibitors and kinds of exhibits, accommodating more than 500 booths. According to a survey there would be over 250 exhibitors participating, coming from China, Hong Kong, India, Sri Lanka, Taiwan, Thailand,

Turkey

and US. With great support from local government and industry associations, the scale of the Fair is expanding further.

The Panyu government is giving the greatest of support to the Fair this year and the response of the region 's companies is vigorous. Such prominent companies as Sinoble, Waddy, KTL, Yuanjun, Legend, Luk Fook, Dai Sun, Henry Jewelry and Helix Diamonds will participate, displaying their fine jewelry at the Fair. An-Ge-More, together with some other gemstone companies, will exhibit good-quality loose gemstones at the gemstone pavilion. Besides, the participation of Conghua and Sihui will promote their characteristic jewelry industry to overseas buyers. "

China International Gold, Jewelry & Gem Fair, Guangzhou keeps side by side knowledge of market needs in every improvement in order to create business for the jewelry industry. Mr. Chan, Manager (China) of CMP Asia said, "Because of the unique potential of Guangzhou, which possesses a rich supply of jewelry raw materials and is recognized as the wholesaling hub for jewelry raw materials in China, the Fair attaches the same importance to both materials and finished products. Apart from glamorous finished jewelry, diverse raw materials, including diamonds, gemstones, pearls, jade and jadeite, silver, semi-precious stones, synthetic stones and cubic zirconia, will be showcased beneath the same roof in different sections, allowing buyers to purchase efficiently the products they need. "

Apart from the fabulous products displayed, the organizers will arrange a series of technical seminars. These will be presented with the professional expertise of China Gold Association, Jewelry News Asia Chinese Edition, International Colored Gemstone Association, TTF Studio, Guangdong Provincial Gem & Precious Metal Testing Centre and the Gemological Institute of America. The seminar organized by the Testing Centre will be open to the public, offering everyone a chance to learn about jewelry connoisseurship.

As for visitors, in addition to visitors of two visit programs and regular buyers, currently more than 500 local and overseas buyers from 45 countries and regions have pre-registered to visit the Fair via the Internet and by other means.

Task Force Aims to Establish Diamond Grading Standards

2008-06-13T13:21:00.000-07:00

A group of gemological experts recently held a meeting in Las Vegas, forming a Task Force to establish international technical standards for diamond grading, including inter-lab comparisons.

The move was initiative by the Accredited Gemologists Association, in reaction to “consumer dissatisfaction with inconsistent grades and a specific concern that current procedures used to color grade fluorescent diamonds result in grades that are inaccurate, unscientific and misleading,” the parties said in a release.

Its principal objective was to determine standard light sources for grading fluorescent diamonds; however, it was revealed that while the experts agreed that lighting standards must be re-examined, the urgent need for clearly defined technical procedures went far beyond this.

Gemologist Antoinette Matlins commented that the Task Force determined a need to establish illumination standards and procedural guidelines for the lighting used in grading diamonds and gemstones and to develop systems to ensure compliance among labs claiming to adhere to established standards.

The team will gather additional data on the broad area of lighting and its impact on diamond and gemstone grading, explore possible alternatives and carry out inter- lab comparisons.

AnchorCert Diamond Certification, a division of The Birmingham Assay Office in the UK, has agreed to draft the protocol for “round robin” testing, and start the process with GCAL in New York. Michael Allchin, CEO for The Birmingham Assay Office said, “The diamond industry needs proper international standards in order to provide comparable, meaningful and credible diamond certification.

“Modern diamond grading relies upon expertise coupled with sophisticated technical equipment. It is as much about scientific measurement as personal judgment, and it makes sense for the technical aspects of grading to be more tightly defined,” he said.

U.S. Polished Diamond Imports and Exports Rise Sharply in April

2008-06-12T15:33:00.000-07:00

The

U.S.

imported $1.5 billion worth of polished diamonds, exporting $1.09 billion worth. With the average value of imports at $1,617 per carat (p/c), and exports at $406.62 p/c, the

U.S.

is clearly exporting the cheaper goods while keeping the higher value stones, a net of $424 million averaging $1,211 p/c.

Imports rose 24.6 percent over April 2007 with about half coming in from

Israel

: $780 million worth of goods.

Exports rose a sharp 33.6 percent, with

Israel

again being the main trading partner – and the destination of $421 million worth of polished diamonds.

Trade with

Israel

is an interesting case to examine. The average value of imports from the center was a high $3,874 per carat. Exports to it averaged only a tenth of that, $395 p/c, absorbing the low-cost goods. Similar trade trends happen with Belgium and even with

India

The ‘Flame Queen’ May Fetch $250,000

2008-06-09T11:20:00.000-07:00

JCK jewelers.com -- An opal collection highlighted by what is arguably the most famous opal in the world—dubbed the "Flame Queen,"—the 263.18-cts. Gemstone will be part of Bonhams & Butterfields Natural History auction, scheduled for June 22 at the auction house’s San Francisco and Los Angeles locations.

The "Flame Queen" is oval in shape with a flat central dome surrounded by a blue-green band - lending it the appearance of a fried egg. It’s not only famous for its extraordinary large size (263.18-carats) but also but also for its unusual shape and color pattern.

The auction house said the legendary opal could bring as much as $250,000. Other opals in the collection include the "pineapple" (estimated price $40/50,000); and a pure black opal-filled Yowah nut (a type of nodule-estimated to bring $65/80,000).

The Flame Queen was found at the Lightning Ridge black opal mine in

Australia

in 1915 by miners Jack Philips, Walter Bradley and “Irish” Joe Hegarty. The most unusual color pattern of this opal is best described as having the appearance of a fried egg—gemologically known as the “eye-of-opal” effect—created when opal infills a cavity. The Flame Queen is the best known gem of this type. Polished as a broad, pear-shaped buff top cabochon, its flashes change from vivid red to fiery bronze when viewed from different angles and in different light.

Platinum demand remains resilient despite price

2008-05-21T16:17:00.000-07:00

New York—Despite platinum's rising price, which averaged $1,304 per ounce last year—36 percent more than in 2006—retail sales and manufacturing volumes of platinum jewelry in 2007 remained fairly resilient, boosted primarily by the high-end and bridal sectors, according to Johnson Matthey's annual platinum report for 2008.

Global demand for new metal in the jewelry industry actually dipped slightly in 2007, the metals consultancy said, falling 55,000 ounces to a total of 1.59 million ounces, yet demand from both the trade and consumers alike stayed strong for the majority of the year.

Platinum jewelry demand in Europe increased by 7.7 percent to a total of 210,000 ounces in 2007, and net demand for new metal from the Chinese jewelry sector increased by 20,000 ounces to a total of 780,000 ounces.

China remains the largest market for platinum jewelry, according to Johnson Matthey, with Chinese manufacturers buying 2.6 percent more of the metal compared with other markets. In the last year especially, platinum demand in China was particularly supported by the production of novelty platinum items and memorabilia manufactured in preparation for the 2008 Beijing Olympics.

In North America, however, where the economic slowdown has been accompanied not only by higher platinum prices but also by pressure on local manufacturing from imported jewelry, purchases of platinum by jewelry manufacturers declined by 5,000 ounces in 2007 to a total of 240,000 ounces.

Looking forward, Johnson Matthey expects platinum prices to remain volatile, though the high prices haven't yet been felt in the jewelry industry this year. The outlook for jewelry demand in 2008 is more dependent on price than previously, Johnson Matthey said in the report, but the high-end and bridal sectors will remain insulated from price changes.

While perhaps the biggest story regarding platinum for 2007 was supply—which fell by 4 percent in 2007—Johnson Matthey said there is still the possibility that supply for 2008 will increase. Among the biggest issues concerning supply in the last year were strikes and wage negotiations at mines in South Africa, plus a Lonmin smelter shutdown in the country, and general issues concerning improved safety and the acquisition of skilled staff.

Italian bran Io Si. jewellery

2008-05-21T16:00:00.000-07:00

Gold and precious stones combine to exotic effect in a new range of jewellery from Italian bran Io Si.

Launched this week by Middle East jewellery house Damas at the Basel Fair 2008, the range features pendants, earrings and rings in gold and gemstones.

Amethysts, green zavorites, diamonds and pink, yellow and orange sapphires can all be embedded in yellow and white gold settings.

Tawfiq Abdullah, chairman of Damas Jewellery, commented: "Io Si's jewels exude a strong, sculptured artistry that's both eye-catching and exotic."

The brand exemplifies the glamour and culture of its homeland, Italy, Mr Abdullah said.

Founded in 1907 in the United Arab Emirates, Damas sells brands including Tiffany, Perreley and Montega and its network spans a number of continents.

According to Mr Abdullah, the ring collection is famous for its reflected equilibrium, with the distinctive forms of the upper section reproduced in miniature in the lower section.

IGI, Brinks Collaborate to Bring Services to Shanghai Diamond Exchange

2008-05-20T14:30:00.000-07:00

Shanghai, China: The International Gemological Institute (IGI) and its strategic partner, Brink’s Far East Ltd., today jointly announced the initiation of IGI certification services exclusively for Shanghai Diamond Exchange (SDE) members.

Under a collaboration agreement, SDE members who send their diamonds, gemstones and jewelry to IGI for analysis, grading and certification, will receive complimentary shipping services provided by Brink’s, from its SDE counter to the IGI Hong Kong lab and then back to the SDE, point-to-point.

Initially, there will be a weekly turn-around service, the frequency of which may be increased, dependent on demand patterns.

“In response to the increasing demand for IGI Reports in mainland China and at all levels of the diamond pipeline, we felt it imperative to offer our clients easy access to our services. We provide SDE members the opportunity to certify their goods at IGI, with the added benefit of free shipping from Shanghai to IGI Hong Kong,” said Marc Brauner, CEO of IGI Hong Kong.

Encouraged by the recently reviewed China import taxation laws that state diamonds that remain within the SDE can be shipped to Hong Kong and back to China without being taxed again, IGI and Brink’s opted to launch the same strategy the partners used with Israeli diamond companies shipping gemstones between Tel Aviv and IGI Antwerp daily for more than 10 years. Due to IGI/Brink’s collaboration agreements, no shipping or insurance costs were charged.

“We are very excited about the prospect of actively contributing to the growth of China’s diamond trade,” said Sally Lee, senior manager of the China business development unit at Brink’s. “SDE members will benefit from Brink’s world-class professional shipping services when choosing to certify with internationally recognized laboratory, IGI; this will save them money—and time—which is absolutely vital to the trade.”

In addition to its global network, Brink’s has five operational addresses in Hong Kong, and offices in Beijing, Qingdao, Shenzhen and Shanghai, where, as a member of SDE since 2002, its service counter is right inside the exchange.

Brauner added, “We have been monitoring the development of the Chinese market for many years and are acutely aware there has been rapid growth of the SDE membership since the announcement was made to reduce value added tax (VAT) to four percent for the diamond trade – in July 2006. This opportunity has come to us at a time when we must respond to the market. ”

New GemeFancy identifies diamond color

2008-05-20T12:44:00.000-07:00

GemeWizard Inc. is offering a free three-month trial of its new color-assessment program for fancy-colored diamonds, GemeFancy.

According to a release from GemeWizard, GemeFancy is a color-assessing and communication application that allows users to accurately identify, describe and communicate all the colors visible in fancy-colored diamonds, and to place them within the Gemological Institute of America's (GIA) Fancy Diamond color range.

The new system identifies a total of 27 main hues, each of which is modified into 36-42 fancy grades and other color descriptions. The images are described using the standard GIA terminology and GemeWizard's alphanumeric color code.

The system then creates an e-mail message that allows the color information to be transferred to a third party.

Menahem Sevdermish, GemeWizard's founder and developer, said the goal of the new system is to provide anybody handling fancy-colored diamonds a common language with which to communicate hue information.

"By creating the GemeFancy, we have provided the industry with tools to make this dream of a common color language a reality," he said.

The free three-month trial period began on May 5. To access the free trial for three months with no obligations, visit Gemewizard.com/FancySquare.

GemeWizard, a provider of software and hardware for professionals in the colored-gemstone, fancy-colored diamond and jewelry industries, offers an entire suite of colored-diamond identification products, called GemeSquare. The system allows users to describe a gem's color more accurately and to communicate the information to other professionals who are not GemeWizard users.

GemeWizard is slated to display at a booth at the upcoming JCK Las Vegas jewelry show.

HSBC to Open Diamond Banking Branch in Dubai

2008-05-20T12:40:00.000-07:00

HSBC announced its support of the Dubai diamond industry, saying it will open a diamond banking branch. The branch will probably be located in the Almas Tower, future home of the Dubai Diamond Exchange.

The Dubai Multi Commodities Centre has been putting lot of effort in bringing banking to the DDE, realizing that without offering a full range of supporting services, the local diamond industry will not grow to become a major diamond trading center.

The DMCC said HSBC’s decision follows an extensive campaign to promote diamond banking activities, adding that HSBC is establishing a diamond banking unit to finance the local and regional trade.

In a release, DMCC said HSBC will offer a range of innovative financing solutions including import credits, working capital and receivables financing, as well as offer factoring services, precious metals hedging, and physical services to meet the needs of the entire supply chain.

The Almas Tower is in final preparations to open later this summer. Many of the floors have been handed over to buyers for retrofitting and most supporting services, such as secure delivery, already arranged.

Diamond India to Hold First B2B Sale of Loose Stones

2008-05-16T15:12:00.000-07:00

India’s first ever private B2B sale of diamond solitaires and colored gemstones is being organized in Mumbai June 21– 30t by Diamond India Ltd, a consortium of 58 leading Indian diamond manufacturers, including DTC Sightholders, Rio Tinto’s Select Diamantaires and BHP Billiton customers.

Goods on display will include solitaire diamonds of 1 carat and above in all shapes and colors and a range of precious colored gemstones – blue sapphires, rubies, ruby lights and emeralds of all shapes, sizes and qualities.

The event is a strictly B2B platform and is expected to have participation from major Indian diamond manufacturers and leading companies from Antwerp, Israel and the U.S. The recently formed Indo-Thai joint venture company Prakruti will also be displaying a range of colored gemstones.

Buyers at this by-invitation only event will be from among India’s top 500 retailers. Viewing and sale will take place at DIL’s Mumbai office by appointment only.

“We will be making vigorous marketing efforts to bring in leading retailers from all across the country through advertising on trade platforms, e-mailers, personalized invitations, etc.,” says Praveen Shankar Pandya, Chairman, DIL.

He adds that the organizers will ensure that all items have clearly defined prices and that there will be complete transparency in the process.

Ever since the government abolished the duty on cut and polished diamonds, there has been an increasing interest among international polished manufacturers to sell their goods in the Indian market, which today is one of the major diamond consuming markets worldwide. Indian jewelers report that the demand for large sizes is particularly strong.http.

Diamond market strong despite external pressures

2008-05-16T15:08:00.000-07:00

To paraphrase a former director of the Diamond Trading Company (the wing of DeBeers responsible for selling rough diamonds): The demand for diamonds is driven by two factors: greed and vanity. We do not foresee a shortage of either in the future.

There has been some talk of late of rising diamond prices. Part of this is that diamonds, like almost all commodities, are priced in US dollars. As the dollar goes down the price goes up. Most economists would agree that the US dollar is falling relative to the other major currencies. This situation is different from a few years ago, when South African producers were closing mines, some in part due to end of mine life, but also in part due to a strong Rand versus the US dollar.

According to Mr. Laboucan Prolific analyst diamonds will continue to see strong demand. In particular the emerging upper-class of very populous countries (China and India) will continue to be a growing market for luxury goods, one that will outstrip that of the U.S. Even if only 1% of the 2.4 billion people living China and India make it to the high disposable income level to afford luxury goods in the next ten years, that is a new crop of 24 million consumers - a number a little short of the population of Canada.

The problem with diamonds is that they are not just any other commodity. Gemstones are evaluated individually based on a number of characteristics unique to each individual stone. It can be difficult to determine if prices for diamonds are increasing due to this increased complexity. Mr. Laboucan alludes to this by mentioning the fact that companies producing larger/high quality diamonds will always see strong business as such goods are for the “ultra-rich” and immune to economic swings. The market for smaller/lower quality diamonds is more sensitive to economic pressures and is mainly a function of the level of disposable income possessed by the upper-middle class. This brings us back to the emerging middle class in the BRIC countries, the potential size of which could very well dwarf that of North America, and possibly even Europe as well. Should the economies of these countries continue to grow, the above scenario becomes a strong possibility. Even with signs of slowdown in China, other growing countries such as India, Brazil, Russia, South Africa, and Turkey will pull up the slack.

With these fundamentals in mind, a cautious investor should be able to pick the most promising diamond companies now, when they are cheap. Assuming due diligence has been properly performed, strong gains could be reaped in the market within a few years time.

Lonrho Mining Recovers 61ct fancy Yellow at Schmidtsdrift Mine

2008-05-16T14:56:00.000-07:00

Lonrho Mining has recovered a 61.3 carat fancy yellow diamond at its Schmidtsdrift Mine in South Africa, the company said Thursday (May 15.)

"This diamond is of extremely high quality and is expected to achieve a very high value,” Charles Mostert, chief executive officer of Lonrho Mining, said of the octahedron shape stone. “We are confident that the recently completed operational review at the Schmidtsdrift mine will continue to have a positive effect and hopefully yield further diamonds of this quality."

Lonrho Mining, formerly known as Nare Diamonds, owns 80 percent of the Schmidtsdrift mine with the Schmidtsdrift Communal Property Association owning the remainder.

The mine has recovered 16,395 carats of diamonds in the two years since operations commenced in April 2006. Production included 328 stones larger than 5 carats, including a rare 235 carat stone, two 66 carat stones and 25 stones between 15 and 50 carats.

Schmidtsdrift comprises six contiguous farms along the western bank of the Vaal River, with a combined area of 320 square kilometers.

Jewelry Design Contest to Highlight the Beauty of Athletics

2008-05-15T16:36:00.000-07:00

An international jewelry design competition is being held to promote and develop jewelry brands from Shenzhen, a major jewelry manufacturing area in China. The 2008 China International Jewelry Design Contest is themed on “the Beauty of Athletics” and will highlight the spirit of the 2008 Beijing Olympics.

According to the organizers – the Shenzhen Gold & Jewelry Association and high-end jewelry manufacturer TTF Jewelry – the purpose of the contest’s launch is to “respond to the current policy for globalization of Chinese jewelry brands,” refresh the level of jewelry design in the country and discover new, talented designers.

The contest is open to professional and non-professional jewelry designers, manufacturers and artists in the world, individuals and companies included. The organizers note that college students are also welcome to take part.

The design style should be concise, modern, and express the “Swifter, Higher, Stronger” theme of the Beijing Olympics. The design should also be innovative, practical and marketable.

Acceptable materials for the designs include gold, platinum, palladium-gold, diamonds, gemstones and jade, among others. The total diamond weight should not exceed one carat.

Additional submission requirements and details will be available shortly on the contest’s website, http://www.0755zb.com/.

The contest is also being held in cooperation with the Gems & Jewelry Trade Association of China, the National Gems and Jewelry Technology Administrative Centre, the Shanghai Diamond Exchange and Oro D’Autore, a contemporary jewelry art collection in Arezzo, Italy.

SA Proposing 2.2 - 3.3% Rough Diamond Royalty

2008-05-15T16:30:00.000-07:00

Following continuing appeals by some of South Africa’s largest mining firms, the National Treasury agreed to adjust the way it calculates new mining taxes, Bloomberg reports.

Royalty rates on rough diamonds and other unrefined products will be 2.2 to 3.3 percent with a levy of as much as 7 percent, the Treasury said Tuesday in a written submission to parliament.

Last March, diamond miner De Beers warned that the company would be subjected to an “unfair form of double taxation,” affecting the Finsch diamond mine, due to the combined new draft of the Royalty Bill with the Mineral and Petroleum Resources Development Act.

The Ministry of Mines and Energy has rejected De Beers’ assertion.

In recent weeks multi commodity miner Anglo American and other mining companies warned that the royalty could deter investment.

In general, royalty rates will range from 0.5 percent to 7 percent of sales, after certain costs, and will depend on what miners produce as well as profitability, the Treasury announced.

The tax on refined products such as gold will range between 1.7 and 2.5 percent, with a 5 percent cap.

The new tax formula will allow depreciation and amortization to be deducted.

Many jewelry buyers duped by fake rubies

2008-05-15T16:24:00.000-07:00

PHOENIX --People in Arizona and across the nation, for buying a ruby , are putting down big bucks for something they think is the real deal.

But in reality, they're getting ripped off.

"It's really an amazing transformation from basically junk to a gem," said Craig Lynch, president of the Arizona Jewelers Association.

Lynch is talking about a scheme where jewelry dealers convince consumers into thinking they're buying 100-percent genuine rubies, but they aren't.

"They're being duped that this is ruby," Lynch said. "It's partly ruby and mostly glass and they're paying exorbitant prices for them."

In fact, according to Lynch, many jewelry dealers are passing off the glass-filled rubies for the real thing.

"It fools the person," he said. "It looks like it's 10 times that value."

How do you know they're not the real thing? Well, Raymond Mason of the Arizona Gemological Society says simple household cleaners and heat will dull and crack the glass over time.

"In any abnormal heat, they're at risk," Mason said. "Any abnormal chemicals, household chemicals like ammonia, will also etch the stone."

Faux rubies fall apart after being heated up.

Lynch said usually consumers never know they've been taken advantage of until it's too late.

"For the consumer, even some of the basic jewelers have a hard time identifying it because it is a brand-new process," Lynch said.

The best advice is to not buy jewelry from anyone you aren't familiar with.

The experts say you should also avoid buying jewelry over the Internet, on cruise ships and overseas to keep from getting taken advantage of.

By the way, rubies are just the beginning. According to the experts, tiny pieces of diamonds and sapphires, for example, will be "morphed" into looking like the real thing when they're not.

RBCCM forecasts positive Diamond fundamentals despite credit crunch

2008-05-14T13:52:00.000-07:00

LONDON, RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (RY on TSX and NYSE), has published a research report that concludes that despite the worsening global economic climate, the fundamentals for diamonds remain positive.

Des Kilalea, Analyst, Global Mining Research at RBC Capital Markets commented:

"While the world economy lumbers through one of its worst periods in modern history, with central banks reducing interest rates to stave off recession, diamond prices remain surprisingly firm.

"While the possibility of recession in the US might put the upward move under threat, the long-term prognosis is good, with supply of rough gems likely to fall short of forecast demand pushing prices well above inflation rates.

"The major beneficiaries will be producers of better quality and large gems. Here prices are likely to rise at well above inflation rates simply because the stones are in very short supply.

"Investors are placing a premium on current producers over explorers. The result is that companies looking to fund exploration campaigns will find fund-raising difficult and expensive in the short term until risk aversion among investors dies down. This is likely to encourage increasing consolidation in the junior diamond sector.

"The area offering the greatest potential to capture additional margins is in better quality rough diamonds of the type produced by some junior miners listed in London and Canada. But Government intervention, be it in the form of higher taxes and royalties, increased ownership, or pressure to beneficiate in the host country, is increasing. All listed companies will have to adapt to this."

These and other topics will be discussed at RBC Capital Markets' second annual Diamond Conference "A Jewel of an Opportunity" on Thursday 15 May 2008 at HM Tower of London.

The conference brings together the senior management of the world's leading diamond corporations, from exploration to mining to polishing and retailing. Speakers include: De Beers, Rio Tinto, Harry Winstons Diamond Corporation and Apollo Diamond (producer of synthetic diamonds).

The conference contents will be available via audio-only webcast from Friday 16 May via RBC Capital Markets' website at http://www.rbccm.com/

NAs (Tapping of precious stones helps for uplift, Zaman)

2008-05-14T13:47:00.000-07:00

GILGIT, (Asia Pulse Data Source via COMTEX) - Northern areas are rich with natural resources, specially the precious stones that would be exploited and tapped for poverty alleviation in the area and also for the socio- economic development in the country. This was stated by Chief Secretary Northern Areas, Qamar Zaman Chaudhry , while inaugurating Industries Office Complex near the Karakorum International University here Saturday. The project will cost Rs.20 million and would be completed within two years time, says a press release.

He said that Northern Areas of Pakistan are not only famous for its natural panoramic beauty and resources, but also for having precious and costly gems and stones popular around the globe. Ch.Qamar Zaman called for special efforts, hard-work, proper planning, processing, polishing and marketing of the gems and stones of the area to earn precious foreign exchange and boosting of their exports for the economic development of the country.

He added that local officials of the Industries, who are the dedicated and young officers of the mineral department and playing an important role for the promotion of the sector in the area.

Chief Secretary Northern Areas further said that some young people of the Northern Areas were sent to Peshawar and Sri Lanka for training in Gems and Stone sector.

He added that ten students of Karakorum International University were also sent to Italy for training in the sector who after completing their training will come back and impart training to other people of the area as master trainers.

He said that there is lot of talent in the youth of Northern Areas and through their proper training and skill development their skills can be exploited for the development of the area.

He also inaugurated the Laboratory of Northern Areas Protection Agency and a the suspension bridge to connect Umphary with Konadas.

MySolitaire.com launches the largest ever Gemstone

2008-05-14T13:45:00.000-07:00

MySolitaire.com, a leading online jewelry portal launches the biggest ever Gemstone Stud Collection. "We are launching more than 14000 Gemstone Stud Earrings early May. It will be the largest collection offered by any jewelry site," declared Ashish Jhalani CEO & Co Founder. One of the most respected online jewelry brands, MySolitaire is already unbeatable in the online Gemstone Rings Collection. Ashish further elaborated, "We want our customers to have maximum choice and flexibility, now they will have the option to design their own gemstone studs."

A specialist in engagement and wedding rings MySolitaire is committed to provide better choice, better quality and better value for money. "We want to give our customers complete choice to design their own jewelry. Our Stud Galore allows them to design studs in more than twenty gemstones available in eight shapes, five different metals and several settings," emphasized Amit Jhalani, VP & Co Founder. The gigantic collection ensures a stylish answer in sync with the latest fashion trend of color gemstone jewelry. The founders are all geared to dazzle the customers with the array of new designs customized especially for this collection. On a lighter note, they seem to redefine the phrase you name it and we have it!

A top online destination for diamond and gemstone jewelry, MySolitaire showcases more than 20,000 jewelry designs. The concentration however will remain on engagement and wedding rings, with the introduction of more than 200 new designs. Surging ahead to capture US jewelry market with their biggest collection of the Black Diamond, Fancy Color Diamond and now Gemstones, MySolitaire promises to be truly a buyer's paradise.

About MySolitaire.com.

Established in 2004, MySolitaire.com is a leading online retailer of fine jewelry and diamonds. A respected brand MySolitaire, aspires to provide its consumers a better way to buy diamonds and fine jewelry.

MySolitaire is known for its fine and extensive line of wedding rings and engagement rings. Showcasing thousands of certified diamonds and vista of gemstone jewelry, MySolitaire.com sells at significantly lower prices than traditional retailers. MySolitaire has also become the online leader in color diamonds line such as blue diamonds, black diamonds and red diamonds. MySolitaire can be found on http://www.MySolitaire.com.

Amit Jhalani, V P Sales & Marketing.

Thailand eyes Namibia as a new direct supply source for gemstones

2008-05-13T17:47:00.000-07:00

Thailand wants to establish resource-rich Namibia as a new supply source of diamonds and gemstones to support its burgeoning jewel making and exporting industry.

A Thai government delegation including executives from Thai Gem & Jewelry Traders Association (TGJTA) plans to visit the African state in June to explore that possibility.

The visit is a follow-up to talks last March in Bangkok between Deputy Prime Minister Mingkwan Sangsuwan and Namibian Ambassador to Thailand Neville Melvin Gertze about fostering economic ties between the two countries.

Namibia offers the potential to supply its abundant diamond, gemstones like tourmalines, amethyst, topaz as well as quartz and gold where are needed by Thailand's gems and jewelry industry. Furthermore, the country also offers opportunities in joint venture and partnership in diamond and precious stone mining as well as polishing and jewelry making.

By establishing a direct link, Thailand would be able to source these materials directly from Namibia, rather going through middle-man sources.

"Direct sourcing from Namibia will not only help us to ensure raw material supplies but reducing production costs and thus increase our competitiveness in the global market," CEO of Bangkok Gems & Jewelry Fair, Mr. Somchai Phornchindarak pointed out.

Namibia was identified as one of the new long-term sources of supplies by TGJTA in its supply diversification plan.

During the visit to Namibia, TGJTA plans to invite members of Namibian jewel industry to attend the Bangkok Gems & Jewelry Fair to allow them to see for themselves the magnitude of Thai industry. The attendance will also provide opportunities for Namibian companies to personally interact with local operators on the potential to work together to create a win-win business result.

This could also be the next big step of Bangkok Gems & Jewelry Fair, the world's premiere gems fair organized twice a year on March and September. Since the fair, best-known as the heart of gemstone market, would be the best place where the international buyers to trade directly with the Namibian companies, while the Namibian will have more chance to meet with the manufacturers of their choice.

For their own benefit, the visitors of the upcoming 42 Bangkok Gems & Jewelry Fair, staged during September 11-15, 2008, are urged to regularly update the latest progression of the Thai-Namibia trade relation on www.bangkokgemsfair.com. The visitors can also reach their success by registering now.

Memoire to distribute Dimexon Eurostar

2008-05-13T16:30:00.000-07:00

New York—Dimexon Eurostar Jewelry and Memoire have signed an exclusive agreement by which Memoire will be the sole North American distributor of jewelry designed and manufactured by Dimexon Eurostar.

Dimexon Eurostar's portfolio includes high-end, classic and fashion-forward diamond jewelry crafted in gold and platinum. The company, part of the Dimexon Group of companies, is headquartered in Hong Kong and currently serves leading retailers and jewelry manufacturers in the Hong Kong market, as well as in Belgium, India, Italy, the United Arab Emirates and the United States.

"Strategically, this partnership is important for the Dimexon Eurostar jewelry business as we build our global product and service offerings," Dimexon Eurostar Chief Executive Officer Vishal Mehta said in a media release. "We are committed to becoming one of the leading providers of high-end jewelry products and services worldwide. Partnering with Memoire will help us achieve our ambitions more quickly in North America."

Memoire, a company with a European heritage, has been manufacturing diamond jewelry in the United States for more than 20 years. Its jewelry is distributed through a select group of authorized retailers. According to the press release, Memoire will market Dimexon Eurostar's products under the new name of "Memoire Boutique."

"Dimexon Eurostar Jewelry offers an exclusive range of high-end jewelry products which meet the exacting quality standards for which Memoire is known in the market," Memoire CEO Doug McDowell said in the release.

Memoire Boutique jewelry will be on display at Memoire's booth at the upcoming JCK Las Vegas show.

Jewelry Shanghai: Visitor Numbers Down but Quality Up

2008-05-13T15:00:00.000-07:00

Jewelry Shanghai 2008 concluded Sunday after a weekend-long exhibition that started May 8 at the Shanghai New international Expo Center. On the last day of the show, hours before companies began packing up their booths, foot-traffic was light, mostly made up of members of the public, with a few trade members here and there.

Prominent designs included gold jewelry set with small size diamonds, with a good deal of jade, amber, pearls and precious stone pieces all around. Diamantaires noted good sales of SI+ / D-G goods.

Jane Kao of Taipei, Taiwan-based jewelry wholesale company Bennie Wang Jewelry, exhibiting for the first time at Jewelry Shanghai, remarked that the visitor numbers were much lower than she had expected and that most of the attendees she saw were consumers. The company sells its own designs to retailers, and, although Kao says that the industry members she did meet were interested, sales were “not good.”

“We are mostly here to promote our company and to test if people in Shanghai like our product. We are different from others who sell mass-produced items. Ours are all designed in-house, in small numbers. Nevertheless, I expected to see more people here.” Kao commented that a recent downturn in the Shanghai stock market, as well as overall concern about the economy kept people away.

Anna Tchapovshaia, of Botswana Diamonds, a brand manufactured by DTC Botswana Sightholder DIA Holdings and distributed in China by Trinity Diamond, echoed the sentiment, that most of the attendees they saw were consumers, not trade members. However, despite this she says that the brand is there almost purely for the PR opportunity, and “in terms of this, we’re happy with the show.”

Official visitor numbers were not made available from show organizers.

Raymond Cohen, sales executive of Antwerp-based DTC Sightholder Tache Company NV, emphasized that the relatively sparse crowds at the show didn’t faze him. “Numbers are down, definitely, but the quality of buyers is up,” he says.

Cohen also gave some advice to foreign companies exhibiting in China. “Chinese buyers want a large range of goods. I think a lot of companies come here with a very specific set of goods, that people here may or may not want, but you can’t do that.” When asked how the show is going for him, he said that it is going very well. “It’s simple,” Cohen says. “If you have the goods, it’s fine; if not, it’s not good.” He said most buyers had been interested in everything but SI goods.

Raj Impex Shanghai Limited is a company that has been selling in Shanghai for approximately two years now and that specializes in small goods below 0.30 carat. “Mac,” a sales executive, echoed the complaints of other exhibitors that people were simply not buying. Those that had been buying were mostly Chinese, Japanese and Korean buyers.

He stressed that the show is very small in comparison to others in the region, such as Hong Kong, but that the event is a good opportunity to meet and gain new customers from cities in the Shanghai area that may not come to Hong Kong.

Show organizers said that there were 400 exhibiting companies from China, Hong Kong, India, Belgium, Israel, Taiwan and others. Shanghai, they say, makes up 20 percent of the Chinese jewelry industry’s total sales and is an important distribution and consolidating center for the country’s industry.

Zale Q3 Sales Increase 6.3%

2008-05-09T15:45:00.000-07:00

Dallas—Same-store sales at Zale Corp. increased 5.8 percent for the third quarter ended April 30, and revenues for the period increased 6.3 percent to $477 million, compared with $449 million for the same period last year, the company announced today.These amounts, both current and comparable, exclude revenues from the Bailey Banks and Biddle stores, which Zale sold to Finlay Fine Jewelry Corp. on Nov. 9, 2007.Year-to-date same-store sales decreased 2.3 percent, and year-to-date revenues decreased 2.4 percent to $1.68 billion, compared with $1.72 billion for the same period last year.

Unrecognized revenues related to warranty sales increased $17 million for the third quarter and $64 million year-to-date. These increases reflect the incremental cash collected and the future positive impact to earnings as a result of the change to the company's lifetime jewelry-protection plans.

"We have a focused agenda to improve execution, and these sales results reflect the early success of our plan," Zale Corp. President and Chief Executive Officer Neal Goldberg said in a media release issued on Thursday. "Sales were fueled primarily by an aggressive clearance strategy that exceeded our expectations with $55 million of inventory liquidated in the third quarter. This clearance strategy is critical for us to achieve our goal of becoming clearer in our product offering and more effective in differentiating the good, better, best value proposition."

According to Goldberg, Zale will further reduce its inventory by $100 plus million using the same aggressive promotional activity.

Zale is a specialty retailer of fine jewelry in North America operating approximately 2,200 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.

Zale will announce its third quarter earnings on May 22.

For additional information on Zale Corp., visit its Web site, Zalecorp.com

Michigan rocks at this year's gem and mineral show

2008-05-09T15:30:00.000-07:00

Filed under The News Herald : At first glance, collecting rocks might not seem like the most exciting hobby, but there's more to it than meets the eye.

Apart from the thrill of unearthing new and interesting stones, collectors learn the history and geological makeup of different regions.

"Rocks aren't just black and gray," club President Dick DePodesta said. "It's about the beauty of nature and the rarity of the rocks."

For those who think rock collecting might not be their cup of tea, DePodesta encourages them to give it a chance.

"My wife got me started and the more I got into it, the more I liked it," he said.

The Midwest Mineralogical and Lapidary Society's annual gem and mineral show draws hundreds of people to the Southgate Civic Center every year.

"It's not necessary to buy to go to one of these shows," he said. "You can just talk to the dealer and find out about what you're looking at."

But some people might wonder what goes on at such an event.

Showcases of collectors' favorite rocks of all sizes, shapes and colors line the aisles, with awards bestowed on collectors with the most educational, most beautiful and most interesting displays, among others.

"In the past, we've had moon rocks and cases of jewels," he said.

An exhibit of dinosaur fossils was a big hit several years ago, he added.

Sulphur, celestine and quartz are among the minerals found in collections.

Celestine, a favorite among mineral collectors with its sky blue color, is one of the unique finds in the mineral kingdom.

"Michigan Rocks" is the show's theme this year, focusing on the background and history of rocks and minerals found in the state's parks, lakes and roads, including Petoskey stones, Lake Superior agates and datolites.

"It's been a long time since we did something special on Michigan," he said.

A special emphasis is put on attracting children to the annual event.

"The whole idea is to get them interested so they can keep this hobby going," DePodesta said.

There will be 20 dealers and free mineral kits for children.

Students in third through eighth grades and their teachers can visit the show for free during "Kids' Day" next Friday.

Activities abound for the tykes and include spinning a mineral wheel to win minerals and visiting the "gold mine" to dig through sand for minerals.

"They can go to the Minerals for Miners table to pick out minerals, there're grab bags with special tickets to turn in for free prizes, and they can wander through the dealers to buy things at kid prices," he said.

About 700 students are expected to come through this year.

That exposure helps the club achieve its primary purpose — to promote interest in the fields of mineralogy, geology and paleontology, including lapidary and related arts.

Jewelry and bead making, silversmithing and the art of cabochon — rounding and polishing gemstones — are some of the group's activities.

Founded in 1956 by a group of people who met at a local rock shop, the club boasted more than 200 members at one time, but interest has dwindled over the years.

DePodesta estimates that about 117 people are active today in the club, which meets the third Tuesday of each month, except in July and August.

Those two months are special times for the group to search for more prized specimens.

"We take off and go collecting rocks all over the country," he said.

Members go on digs to search quarries, beaches, parks and roads around the country for unique and interesting finds.

For some, that means a trip to Hungry Hollow in Canada to look for fossils or a jaunt to the Red Metal Jamboree in the state's Upper Peninsula to search old copper mines.

And each member is required to undergo safety training to enter the mines and quarries.
"None of the quarries will let you in without that anymore," DePodesta said.

A monthly newsletter, annual banquets and speakers are part of the club's activities.

The 2008 Gem and Mineral Show will take over the Southgate Civic Center annex, 14700 Reaume Parkway, from 4 to 8 p.m. next Friday, 10 a.m. to 6 p.m. May 17 and 11 a.m. to 5 p.m. May 18.

Admission is $4 for adults, $3 for senior citizens and $1 for teenagers.

For more information about the show, e-mail ornwhanschu@prodigy.net, call Mike Bomba at 1-313-381-8456 or Norm Hanschu at 1-734-455-8596.

State Dept., Customs Officials to Provide KPCS, Clean Diamond Act Guidance at JCK

2008-05-08T15:30:00.000-07:00

New York City: Sue Saarnio, special advisor for conflict diamonds at the U.S. State Department and Vincent Dantone, program manager for trade policy enforcement programs at the U.S. Customs and Border Protection, will be available to provide legal compliance information to rough diamond importers and exporters about the Kimberley Process (KPCS) and the Clean Diamond Trade Act at the JCK Las Vegas Show.

Under U.S. law, all rough diamond shippers are required to use U.S. Kimberley Process certificates when importing or exporting rough diamonds. Importers and exporters also must send copies of Kimberley Process certificates to the U.S. Census Bureau's toll-free fax line at 1-800-457-7328 and maintain records of all rough diamond shipments for five years. Importers also are required to send confirmation of receipt to foreign exporting authorities, among other requirements.

Saarnio and Dantone will be based at the Jewelers Vigilance Committee (JVC) booth, L-13, Sands Expo & Convention Center, Sunday, June 1 and Monday, June 2.

For information about the Kimberley Process and Clean Diamond Trade Act, visit: www.state.gov/e/eeb/diamonds or http://www.kimberleyprocess.com/.

A Diamond is Forever Floral Spectacular Kicks-off at Grand Central

2008-05-08T15:11:00.000-07:00

New York, NY – A bevy of Hollywood elite and New York glitterati flocked to historic Grand Central Terminal to kick off the opening of the A Diamond Is Forever Floral Spectacular designed by chic celebrity floral designer Antony Todd, commissioned in celebration of Mother’s Day.

The stunning installation was created with more than 24,000 long stem red roses spelling out A Diamond Is Forever. Located along the Vanderbilt Hallway Bridge inside Grand Central Terminal, the floral spectacular is as beautiful as it is meaningful. The concept of using roses as the material for the installation illustrates the idea of the temporary versus the permanent. Over time these roses will age. And as they do, the timelessness of diamonds becomes even clearer to those observing it.

To honor Todd and his vision, A Diamond Is Forever hosted a small intimate luncheon overlooking Grand Central Terminal’s main concourse and the floral spectacular. The star studded lunch was attended by the likes of Diane Kruger, Lake Bell, Natasha Richardson, Tory Burch, Coca Rocha and Elisabeth Hasselbeck who joined Todd in celebrating the brilliant and beautiful installation amidst a sea of flowers and diamonds.

As part of the festivities, A Diamond Is Forever is also giving away a diamond gift each day for three days. Beginning Wednesday, May 7th through Friday, May 9th anyone who walks by the Floral Spectacular inside Grand Central Terminal has the chance to pick up one of 1,000 roses being handed out daily by A Diamond Is Forever. Everyone who picks up a rose will get a code that they can then enter online at http://www.adiamondisforever.com/ for a chance to win a 3 Stone Diamond Necklace worth $5,000. If you can’t make it to Grand Central Terminal, you can also register at http://www.adiamondisforever.com/ for a chance to win.

JBT: Bankruptcies down, claim amounts up in Q1

2008-05-08T14:30:00.000-07:00

New York—The news on credit in the American jewelry industry in the first quarter of 2008 was both good and bad, according to statistics from the Jewelers Board of Trade (JBT).

While the JBT reported a decline in the number of collection claims placed in the first quarter of 2008, compared with the first quarter of 2007, the average amount per claim jumped dramatically. The number of claims dropped by 9.4 percent in the first quarter—850 claims, as opposed to 938 for the same period in 2007—but the average claim increased 24.6 percent, from $6,583 to $8,203.

Bankruptcies, industry-wide, dropped by 15 percent in the first quarter of 2008, totaling 20 as opposed to last year's 17. As in the first quarter of 2007, the overwhelming majority of bankruptcies occurred at the retail level, with no regional trend discernible.

So far this year, decreases in credit ratings have outpaced increases by 1,703 to 1,559: a dramatic shift from the first quarter of 2007, when increases led decreases by 1,548 to 1,041. Downward adjustments increased by 63.4 percent in the first quarter of 2008, compared with the same period of 2007. For the month of March, the increase was 79.5 percent compared with March 2007.

In terms of new businesses so far this year, 60 new retailers have opened their doors, compared with 59 in the first quarter of 2007. New wholesalers are up 60 percent (16, compared with 10 in the first quarter of 2007), but only three new jewelry manufacturers have opened so far this year, compared with 12 in the first quarter of 2007: a 75 percent drop, perhaps reflecting the growing tendency toward global sourcing of various industry-related goods.

Breakthrough Makes Hand Polishing At 200x Magnification Possible

2008-05-07T15:00:00.000-07:00

Diamond manufacturers Overseas Diamonds, who market isee2 super ideal cut diamonds, has announced a technology breakthrough that makes it possible for the first time to cut and hand polish diamonds at a 200x magnification.

Utilizing high-definition imaging and proprietary tools at the cutting wheel, the new technology reveals aspects of the diamond’s polish that are otherwise hard to detect or that might be missed as they are hand-cut by the craftsman.

As a result, the technology enables the accurate placement of facets, with each sized and polished to a level of perfection not possible before.

“In researching existing systems, isee2 diamond engineers found that when pushed to the current limits of 100x magnification, the image quality that resulted did not provide sufficient detail or definition to meet their specifications,” says Joseph Srodawa, managing director of Overseas Diamonds in the U.S.

Srodawa says isee2 diamonds cut and polished using the new 200x magnification technology will become available to retailers beginning June 2008, with full implementation by September 2008.

Launched in 2002, isee2 diamonds provide a “Birth Certificate” that tracks the diamond from mine to purchaser.

Yahoo Holders Turn Up Heat After Microsoft Deal Talks Fail

2008-05-07T14:30:00.000-07:00

Filed under WSJ.com, SAN FRANCISCO - Yahoo Inc. Chief Executive Jerry Yang Monday had to tangle with some big shareholders who were displeased that he didn't reach a deal to sell his company toMicrosoft Corp. at a sweetened price.

At issue was Yahoo's stance in negotiations with Microsoft Saturday that the company was worth $37 per share, while Microsoft said it was prepared to offer $33. Some of Yahoo's major shareholders had by late last week signaled to Yahoo that they were open to a deal around $33 or $34 per share, according to people familiar with the matter.

With Microsoft's withdrawal of its offer Saturday, and a sharp slide in Yahoo shares Monday, some investors are asking why Yahoo didn't work harder to bridge the price gap with Microsoft. Any investor dissatisfaction could potentially feed into calls to unseat Yahoo's board at its next annual meeting or efforts to press Yahoo's directors to go back to Microsoft to try to strike a deal. Yahoo late Monday announced it would hold its annual shareholder meeting on July 3, setting a May 15 deadline to receive any new nominations for Yahoo directors.

A manager at another major shareholder said the firm was "comfortable with Microsoft's price," and had communicated to Yahoo last week that it would accept a deal in the approximate range of $33 or $34 per share.

A manager at a third major Yahoo shareholder said some investors were pressing Yahoo to "reopen the dialogue" with Microsoft about possible deals. "The shareholders are pretty irate," the manager said.

Yahoo's Mr. Yang and the company's chairman Monday defended Yahoo's actions. "Listening to shareholders is very important but you'll get lots of points of view," said Yahoo Chairman Roy Bostock in a joint interview with Mr. Yang Monday. "In the final analysis the independent directors of the board had to make a determination of what our position would be when we put the first price on the table," he added, saying that Yahoo's board had not named any price before Saturday.

"We said, considering all of these hard data, what we should do is say we think a fair value for the company is $37. It was not a take-it-or-leave it statement," Mr. Bostock said. He said Microsoft did not respond to that price other than to withdraw its offer.

Mr. Yang in the interview disputed the idea that Yahoo didn't want to sell to Microsoft. "There should be no question about our willingness" to sell to Microsoft, he said, speaking of himself and Mr. Filo. "We as a company and I personally have always been open to a deal with Microsoft and I hope that the last few days it was clear that we have shown we're willing to do a deal with Microsoft but that we couldn't get to an agreement on price."

As expected, Yahoo's stock took a pummeling in the stock market Monday, falling $4.20, or 14.7%, to $24.47. Analysts said the shares, which traded at $19.18 on Jan. 31 prior to Microsoft's initial $31 per share offer, were supported from falling to the same level by the possibility that Microsoft could revive its Yahoo pursuit, and that Yahoo was poised to announce a search advertising pact with Google. While a deal wasn't finalized as of Monday afternoon, Yahoo and Google were vetting a potential agreement with antitrust regulators, according to a person close to Google. Mr. Yang said he was taking Mr. Ballmer's letter withdrawing the Microsoft offer "at face value for what it is." He acknowledged facing pressure now to deliver on Yahoo's plans for its business. "There is no celebrating here," he said. "We have a lot of work ahead of us."

Polished Diamond Price Inflation Shows Dramatic Rise in April

2008-05-07T14:00:00.000-07:00

Energy prices continue to spike; food costs are higher; clothing prices are up. Global prices of virtually all goods are on the rise, and inflation is the main topic in news headlines around the world. So it should be no surprise that polished diamond prices are also caught up in this inflation frenzy.

The economy of the U.S., which represents just less than 30 percent of the global economy and about 50 percent of global diamond consumption, appears to be mired in a recessionary mode, there is no shortage of demand for high quality polished diamonds in other world markets. Diamond buyers in Asia, the Middle East, India and China have stepped in, and they are bidding up prices, especially among the larger stones – three carats and above.

A common question today, will these diamond price increase hold at retail, or will merchants negotiate them down? – appears to have been answered. Because of strong demand for polished diamonds in other global markets, diamond suppliers have been able to maintain their price increases. If a U.S. customer bulks at paying higher prices for diamonds, the diamond supplier simply moves on to another market where demand is strong.

As long as the demand for diamonds and diamond jewelry remains strong, especially in emerging markets, prices are expected to rise. Further, since rough diamond prices have been rising faster than polished diamond prices, there is on-going pressure to pass along those price increases. So far this year, rough diamond prices are up about 8.5 percent based on results of DTC Sights; polished prices are up by just over 6 percent since the end of 2007.

While diamond prices showed a dramatic increase in April based on comparisons of the average prices for the month, the real spike in diamond prices occurred in March.In March, there was a sharp spike mid-month, and those higher prices carried over into April.However, while prices were at record levels in April, they were relatively flat throughout the month. The market was apparently digesting the price spike which occurred in March; many suppliers were waiting to see if prices would hold firm. They were rewarded for their patience: prices were steady in April.

Because rough diamond prices are rising at a pace faster than polished diamond prices, there is much pressure on cutters and polishers to raise their prices, a trend that is likely to continue. This will keep polished diamond prices from falling, and should provide support, along with baseline consumer demand, to send prices higher, but at a more moderate rate.

Andesine Aggravation

2008-05-06T15:00:00.000-07:00

The recent saga of the gemstone andesine illustrates the complexities of gemstone enhancement and disclosure.

Andesine is a reddish-orange feldspar that's been in the market for five years. It's sometimes called sunstone because its chemical composition is similar to that gemstone's. Stuart Robertson, research director for Gemworld International, Glenview, Ill., says it was first seen at the gem shows in Tucson, Ariz., in 2003, but didn't draw attention until 2005, when quantities started to increase. Color and clarity were remarkably consistent, raising questions about origin and enhancement. Some have answers to those questions. Some of the answers raise more questions.

"It's from Tibet, natural and unenhanced," says Jackie Li, owner of the Tibetan Sunstone Mine, whose Web site, Tibetansun.com, details the story of andesine's origin. Missing from that story: any images of an actual mine or rough gems.

Congo has been identified as another source of andesine. Online gem merchant Thaigem.com says it first purchased Tibetan sunstone in East Africa, where it was identified as Congolese. And Dr. Laurent Sikirdji, of Gemfrance.com, says his andesine—which he calls natural and unenhanced—is from Congo. But no one has seen a Congolese andesine mine or any Congolese rough. Sikirdji admits that his Congolese andesine is purchased in Thailand.

Jewelry Television had been selling andesine as natural and unenhanced. "We were assured that the color was natural by all our suppliers," says JTV cofounder Jerry Sisk.

Late last year JTV found a source for andesine in Mongolia. Sisk describes what happened next: "Our man in the field saw the rough coming out of the ground (all yellow) and was given the 'recipe' for heating the material."

JTV has sent samples of treated and untreated andesine rough to Dr. James Shigley at the Gemological Institute of America, Dr. George Rossman at California Institute of Technology, and Dr. John Emmett at Crystal Chemistry in Brush Prairie, Wash., all renowned experts in gemstone enhancements. Sisk is determined to find the mechanism behind the color, and he wants to know how to identify treatments. It may take several months before any conclusions are reached.

"The only comment that I would make," says Sisk, "concerns our prior purchases, which we cannot attribute to China or Mongolia. We actually have documentation on a number of our acquisitions stating Congo as the source of the gems. Once again, we were relying on our vendors, but took the position that we will find the source(s) and inform our viewers. We released that information within a very short time frame once it was verified."

Sisk notes that JTV has not directly purchased any gemstones from the Mongolia site. "We will, of course, start negotiations with the mine owners to procure a steady supply of material for our viewers," he says. "Any gemstones from the mines in northern China and southern Mongolia will be disclosed properly and noted on our invoices."

Sisk adds, "When we first started selling red and green andesine-labradorite, we did send samples to the labs as part of our standard operating procedure. The reports came back as natural color. Our vendors also assured us that the color was natural. That is how we represented it to our customers."

Sisk says demand for fine-quality red and green andesine-labradorite is putting pressure on the supply side, boosting prices on his recent purchases, and making it difficult to get enough fine-quality gems to meet demand, particularly in larger sizes. "The prices are higher than they were a year ago, and we cannot purchase the quantities we need to supply the consumer," says Sisk. "Clean, unzoned green andesine-labradorite is nearly nonexistent.We have extremely limited supplies of the green material and do not see any improvement in availability in the near future."

GIA Museum launches historical jewelry campaign

2008-05-06T14:30:00.000-07:00

The Gemological Institute of America Museum is launching a new campaign to build the “GIA Historical Collection,” a comprehensive assemblage of jewelry, object d’arts and gemstones from all time periods and cultures world-wide.

“We intend to create a wide-ranging, world-class collection that captures the essence of each period in gem and jewelry history," said Elise Misiorowski, GIA Museum director. "People are always fascinated by historical pieces. It’s our goal to bring together a variety of significant treasures representing different episodes in history.”

“Jewelry is like a time capsule,” adds Misiorowski. “It can tell you about the economics, social structure, and technology of the culture it came from. Jewelry preserves this information in a very concentrated way. It’s like a Rosetta stone; if you know how to read it, you can interpret the socio-economic climate of the period.

Misiorowski also noted, “Gems also have their own individual story to tell. Their sources, significant owners, and other details give them their own personality and place in history.”

The Institute hopes to not only increase the number of pieces in its collection, but acquire examples from many different eras as well. The Institute anticipates this collection will quickly become an important addition to the museum because donors, visitors and students alike will benefit from sharing the stories of these intriguing pieces.

The GIA Museum plans to use the Historical Collection for display in other venues on a regular basis, accompanied by lecturers and experts, and pieces from the collection will be showcased further via podcasts and other educational vehicles. Misiorowski said “We hope the GIA Historical Collection will grow to inspire, educate and excite viewers today and for generations to come.”

In addition, the GIA Richard T. Liddicoat Gemological Library and Information Center will archive any accompanying documents for donated pieces that detail the item’s background and provenance in its Cartier Rare Book Repository and Archives.

Fine Jewelry News Launches Website for Women

2008-05-06T14:15:00.000-07:00

Fine Jewelry News announces the launch of its community-based website designed to give women a forum to share their love of fine jewelry, gain confidence about buying jewelry, and help others in need of advice. "Fine Jewelry News speaks to the dreams and desires behind a woman's jewelry purchases: to mark a moment in time with her children, to live more lightly on the earth, to be a little bit 'rock n' roll' even with a full-time job and a family that needs dinner," says Jodi Goldberg, editor.

Through Fine Jewelry News, women will gain confidence about buying fine jewelry by asking questions and speaking their minds in a secure, supportive environment. They'll start to think of jewelry first when it's time to celebrate special moments, honor traditions or start new ones, and give back to the people they care about most--including themselves. Not to mention taking time out to indulge in a little luxurious daydreaming!

A subscription-based e-publication offers a rich blend of style and substance, covering topics that range from fashion trends to fair trade gems. Opportunities to connect with an online community give women a valuable second opinion on potential jewelry purchases, along with space to share stories and swap ideas with an eager, interested audience. Casting a vote in the Fine Jewelry News weekly opinion poll lets women find out what they have in common with other jewelry lovers all around the world.

"Fine Jewelry News is a great resource for consumers, but it's valuable to the jewelry industry, too," according to Goldberg. "It's a place to find out what's on women's minds, and to gather insight about what's important to them."

Charles and Colvard cuts staff

2008-05-02T15:00:00.000-07:00

Morrisville, N.C.—Charles and Colvard has slashed its workforce by 18 percent to cut costs amid slowing sales, various news services report.

The cuts amount to a loss of about 10 jobs for the Morrisville, N.C.-based moissanite maker, bringing its staff down to a total of 45.

Like so many other players in the jewelry industry, Charles and Colvard is feeling the effects of an anemic economy.

According to news reports, the company reported a net loss of $698,000 for the first three months of the year, compared with a year ago when the company reported a net income of $339,000.

Charles and Colvard Chief Executive Officer Bob Thomas was quoted in The News and Observer as saying the cuts were made across all departments, including sales, management and the administrative staff.

A consulting company hired by Charles and Colvard recommended the cuts, which will save the company about $500,000 a year.

Thomas also said further changes "will address more encompassing issues," and will be announced after the company's May 27 shareholder meeting.

While Thomas would not elaborate, one analyst told The News and Observer that Charles and Colvard is a prime target for acquisition.

According to news reports, the company's inventory of moissanite gemstones is valued at about $42 million and could retail for up to $169 million.

Cheaper Nanodiamonds Produced for Medical Functions

2008-05-02T13:45:00.000-07:00

A group of Taiwanese scientists has discovered a cheaper way to create tiny fragments of diamonds, similar in size to microscopic viruses and known as fluorescent nanodiamonds (FNDs), making it possible for them to be used to reveal the movement of cells around the body, or even deliver genes, according to New ScientistTech.

This function of the nanodiamonds is realized when the diamond fragments are hit with a laser; due to defects in the structure of the diamonds that absorb the laser energy and emit their own light at a different wavelength, they can fluoresce for hours afterward and be tracked in cells throughout the body.

In addition, the diamond material is relatively stable and non-toxic and is therefore an attractive material for use inside the body. But, until now, the diamond fragments have been too expensive to manufacture.

As New ScientistTech explains, FNDs are usually made when a high-energy electron beam is fired into diamond powder and then heated up to 800 °C, but a Taiwanese scientist named Huan-Chen Chang and his colleagues at the Academia Sinica have discovered that they can shoot a less intense, and thus cheaper, beam of helium ions at the diamond dust to produce FNDs with the same quality.

"The beam of helium ions knocks some carbon atoms out of the nanodiamonds, leaving vacancies behind," explains Chang. Those vacancies, he says, bond with nitrogen atoms and form flaws that allow the diamonds to absorb and re-emit laser light. The cheaper FNDs work almost as well as those produced with an electron beam. In tests, Chang said his team could track the movement of a single fluorescent nanodiamond within a cell for over 3 minutes.

Other uses for the cheaper nanodiamonds have been explored by the researchers, including monitoring stem cells in developing tissues or carrying drugs into cells.

New site enables year-round buying, selling

2008-05-02T13:30:00.000-07:00

Norwalk, Conn.—JCK Luxury and Premiere have launched a new Internet platform that will allow exhibitors and attendees of the Las Vegas-based event to leverage the Web to sell and find products all year round.

Access to Jewelsbyluxury.com will be exclusive to participants in JCK Luxury and Premier. Membership to the site provides each exhibitor with a gallery for displaying thousands of items in a format that is easily accessible to retailers. Exhibitors will be promoted throughout the year through targeted marketing efforts that boost member visibility throughout the industry.

Retailers visiting the site will have the opportunity to make appointments to meet with exhibitors during the Luxury and Premiere events, plus use the site's comprehensive search engine to find sought-after items more quickly, and get into direct contact with the proprietor of that merchandise.

"Our event takes place for three days in Las Vegas, but this new platform is a great way for the top designers and manufacturers to showcase and sell their products all year long to retailers that they meet at the show," Luxury and Premiere Industry Vice President Yancy Weinrich said in a media release.

JCK Luxury and Premiere will be held from May 27-May 29 at the Venetian Resort Hotel Casino in Las Vegas. For more information about the show, call (800) 257-3626 or visit the event's Web site, Luxurybyjck.com.

For more information about Jewelsbyluxury.com, call (877) 777-9771 or visit the Web site directly.

Trio partner together; Venus, AGS and AGS Lab

2008-04-30T13:30:00.000-07:00

The partnership leverages industry requirements with technology and marketing

Venus Jewel, the American Gem Society™ and the American Gem Society Laboratories® announced a partnership, to create an informative manner of searching for stones and their qualities. AGS Lab has allowed its AGS Performance Grading Software® (PGS) parameters to be incorporated onto the website of Venus Jewels, through which AGS members can precisely find desired diamonds in just a few seconds at Venus Jewel’s online database of products.

This service is exclusively for the AGS members. They can search stock available on the website, on the basis of Light Performance, Proportion Values, and the estimated AGS Cut Grade. The PGS results are displayed along with the ‘.srn’ and ‘.stl’ files downloadable for analysis on customers’ PGS software, ASET images of Round Brilliants are also available, with other shapes scheduled to follow shortly.

Ruth Batson, Executive Director and CEO of the American Gem Society commented, “We are extremely pleased that Venus Jewel, a company with whom we share a passion and respect for cutting-edge research and sound ethical values, has chosen to embrace the AGS Cut Grading methodology to ensure that our members make the best possible diamond purchasing decisions.” Venus Jewels is a leader in solitaires and a DTC sightholder, worth grossing over US$ 335 million.

Anil Shah, Partner, Venus Jewel said, “We are pleased to integrate PGS with our website.We foresee this partnership leading to enhanced transparency not only about our extensive grading, but also the Performance Factors introduced by the American Gem Society.”

Gold weakens on U.S. dollar rise

2008-04-30T11:30:00.000-07:00

LONDON — Gold ended sharply lower after hitting a three-month bottom Tuesday on the back of a firmer U.S. dollar, declining oil prices and weak sentiment ahead of an interest rate decision by the U.S. Federal Reserve Board.

Gold often takes its cue from movements in the dollar because of its role as an alternative investment to currencies, stocks and bonds. The outcome of the Fed meeting would set the tone for currencies and precious metals, dealers said.

“Strength in the U.S. dollar is clearly a major factor, plus we have seen a quite bit of money coming out of the StreetTracks exchange-traded fund. Both these things are weighing on the market,” said Dan Smith, analyst at Standard Chartered Bank.

“There is some indication of consumers starting to come back in at these lower prices, but we are waiting to see how powerful that would be. I am looking for prices to recover somewhat from where we are now,” he said.

Gold held in StreetTracks Gold Shares, the world's largest gold-backed ETF, fell more than 50 tonnes in less than a week to about 591 tonnes as of Monday.

Spot gold fell as low as $868.80 (U.S.) an ounce, the lowest price level since Jan 22.

It was at $873.55/874.75 at 2:15 p.m. EDT, against $891.65/892.65 late in New York on Monday, when it hit an intraday day high of $895.50 on speculative buying driven by record high oil.

Jonathan Jossen, an independent floor trader in New York, said that gold's fundamentals remain firm in spite of a recent selloff due to the U.S. dollar's strength.

“The only thing that I can see why gold should slip is that we get deeper into a recession, and maybe that will bring commodity prices down and bring inflation down,” Mr. Jossen said.

The dollar hit its highest level against the euro in nearly four weeks, on track for its largest monthly gain in nearly a year, amid expectations the Federal Reserve will signal the end of its easing campaign.

The Fed will begin its two-day meeting later on Tuesday and analysts expect the policy-setting body to cut key borrowing costs by a quarter percentage point to 2 per cent and indicate that its rate-cutting campaign is finished for now.

A firmer dollar makes gold costlier for holders of other currencies and often lowers bullion demand. The metal is also generally seen as a hedge against oil-led inflation.

Oil fell more than $3 a barrel, retreating further from a record high hit on Monday. U.S. crude futures ended down $3.12 at $115.36 a barrel.

George Gero, vice-president with RBC Capital Markets Global Futures in New York, said that the Fed meeting will be closely watched.

Mr. Gero also cited a lower open interest in the U.S. gold futures market, larger gold delivery notices and chart-based selling below $880 an ounce for bullion's drop.

Spot gold has been trading well below its lifetime high of $1,030.80 an ounce hit on March 17, with attempts to revisit the level resulted in heavy profit-taking by investors.

U.S. gold futures for June delivery on the Comex division of the New York Mercantile Exchange settled down $18.70, or 2.1 per cent, at $876.80 an ounce Tuesday.

In industry news, Penoles, Mexico's largest producer of refined silver, declined sharply on Tuesday, falling 6 per cent one day after the company posted a slight drop in first-quarter net profit.

Silver fell to $16.48/16.57 from $16.96/17.02 an ounce late in New York on Monday.
Other precious metals also fell, with spot platinum dropped sharply to $1,909.50/1,929.50 an ounce from $1,964.50/1,974.50, while palladium dropped to $419/427 an ounce from $432.50/438.50 in the U.S. market late on Monday.

DFI’s Marine Mining Yield Rises, Average Prices Up 21%

2008-04-30T11:00:00.000-07:00

Diamond Fields International (DFI) announced Monday that it sold a total of 1,958.19 carats at its most recent rough diamond sales for an average price of $258.36 per carat, a 21 percent increase over the previous year’s average sale price of $213 per carat.

A total of 2,763.28 carats were recovered by DFI during the month of March, the company’s best month since May 2007, DFI stated in a release. Total carats recovered to the end of the first quarter of 2008 came to 5,882.74; of this, 15,626 stones were gem quality, with an average weight of 0.38 carats per stone.

Commenting on the results, DFI CEO Wayne Malouf credited “the significant improvement in ship availability, a prerequisite in our program to make the marine operation more efficient.” Most of the diamonds were mined at DFI’s marine operations which were recently overhauled.

DFI recently announced that PriceWaterhouseCoopers had resigned as the company’s auditors, effective April 23, and that DFI’s head office had been moved from South Africa back to Vancouver, B.C.

DFI is a mining and exploration company with projects in West Africa, Namibia, Zambia and Madagascar, mining diamonds, gold, zinc, copper and nickel.

DTC Hikes Prices in Response to Rising Market Prices

2008-04-28T13:46:00.000-07:00

The Diamond Trading Company (DTC) announced an average price increase of about 3.5 percent for the upcoming Sight, the fourth this year, to begin Monday. Together with previous price hikes by the DTC, the cumulative average affect is an 8.5 percent increase in rough diamond prices since January.

The DTC said the hike will mostly affect nicer goods that result in IF - SI clarity polished diamonds.

Sight four is the first Sight this year that will not include those not selected for the new contract period. On Tuesday, the DTC is expected to publish the new Sightholders list for the 2008-2011 period. The publication was delayed by a number of weeks after questions were raised regarding statements made in the applications by a few companies that passed the Sightholders selection process.

The Sight will run through Friday.

In diamond world, brown is new white

2008-04-28T13:36:00.000-07:00

Filed under Natural Color Diamond Association, New York :- Long the redheaded stepchild of the diamond world, earth-tone diamonds in varying shades are now emerging as a favorite son.

Just don't call them "brown.

"Marketed as "cognac," "champagne" or "chocolate," brown diamonds are in demand by today's fashion-conscious consumers who want jewelry that can be matched to their outfits.

Brown and yellow are the two most commonly found colors in the diamond world. "Common" is a relative term, however, as only one out of every 10,000 diamonds officially qualifies as a colored diamond, says Robert Mays, executive director of the Natural Color Diamond Association (NCDIA).

May recommend that jewelers who are interested in selling colored diamonds begin with the more plentiful—and comparatively affordable—browns before spending top dollar for the extremely rare and expensive colors such as pink and blue.

"Champagne, cognac and chocolate diamonds are the perfect entry point to come into the market if you want to get into the colored-diamond business," May says.

Australia's Argyle mine is the world's largest producer of brown diamonds, with a haul between $150 million and $200 million annually, according to mining company Rio Tinto. The NCDIA says brown diamonds are also found in southern Africa and Siberia.

Liz Chatelain, chief executive officer of MVI Marketing and co-founder of the Indo-Argyle Diamond Council, began working with the Argyle mine in 1989, and she says at that time, the general attitude toward brown diamonds, or "champagne," as Argyle has termed them, was negative.

"The trade has always been the gatekeepers," she says. "They did not like, or think the consumer would like, champagne diamonds. They had always been taught by De Beers that the best diamonds were white, therefore champagne diamonds had no place in jewelry."

But, she says, that started to change around 1992 when David Yurman made his first champagne-diamond piece. Brown diamonds as a category then began to pick up steam.

Chatelain says today's high-end designers mix champagne diamonds with white ones.

"It is still a small part of the diamond jewelry business but adds style and interest to jewelry collections around the world," she says.

When converted into polished diamonds and mounted into jewelry, brown diamonds constitute $4 billion to $5 billion of the world's retail diamond jewelry sales each year, or roughly 7 percent, according to Rio Tinto.

Le Vian is another well-known brand that contributes to brown-diamond retail sales.

Headed by Eddie LeVian, CEO, designer and director, Le Vian has its own brand of "chocolate" diamonds.

"The chocolate color is one that women understand," LeVian says, noting the idea of "chocolate" appeals to women more so than "champagne" or "cognac."

Celebrities who are dipping into the trend include hotel heiress Paris Hilton, tennis pro Serena Williams and Heroes actress Hayden Panettiere.

"It's everywhere," LeVian says. "They are all drawn to it."

And while the average retail jeweler won't have a great number of Grand Slam champions or Heroes as customers, LeVian points out that celebrities are no different than other women.

Jewelry, LeVian says, is no longer about a woman's husband buying her one piece she keeps her entire life.

Price points for Le Vian chocolate pieces range from $200 to more than $100,000.

Another designer cluing in to the brown trend is Justine Simmons, sister-in-law of Simmons Jewelry Co. owner Russell Simmons.

Simmons launched "Brown Sugar," which is being produced by Simmons Jewelry Co. on the Home Shopping Network (HSN) and HSN.com.

With price points ranging between $199 and $599, Simmons says she has designed a line that is fashionable and can be worn with everything from a ball gown to blue jeans.

Future plans call for expanding into men's jewelry and incorporating brown topaz and quartz pieces into the line.

Shades of rare

Only one in 10,000 diamonds that comes out of the ground qualifies as a colored diamond. Here is a guide classifying natural-colored diamonds by rarity of color.

—Rare: Brown, gray, black

—Very rare: Orange, yellow, olive

—Extremely rare: Pink, blue, green

—Most rare: Red, purple

GCAL achieves ISO accreditation

2008-04-28T13:21:00.000-07:00

New York—The Gem Certification and Assurance Lab (GCAL) has received an accreditation signifying it conforms to international standards for accurate and reliable diamond grading, the New York-based lab announced on Thursday.

GCAL is the first diamond-grading lab in North America to receive this accreditation, known as ISO 17052:2005, and only one of three diamond-grading labs in the world to achieve this certification.

The accreditation means that GCAL's lab is rated among the most technically competent in the world, offering clients accurate first-time grading, less retesting, enhanced consumer confidence and greater ease in selling goods overseas.

Because the ISO accreditation is internationally recognized, exporters don't have to retest for other markets. More than 40 laboratory accreditation bodies have signed a multi-lateral recognition statement called the ILAC Arrangement, which enhances acceptance of data across the borders of member countries.

GCAL President Donald Palmieri said in a media release that the accreditation marks a tremendous milestone in the company's growth and expansion.

"We are very proud to be the first lab in this country to conform to ISO laboratory standards, and we see it as a testament to offering the most reliable and accurate grading in the industry," he said. "Our customers expect more from GCAL and we want to live up to that expectation regardless of the time, effort or cost it takes to be the best."

Belgium Decreasing Trade in Rough in March

2008-04-25T16:45:00.000-07:00

A sharp fall in Belgium's rough diamond trade was noted in March. The country exported 13,238,024 carats of rough worth $1.026 billion, a 26.24 percent decline in volume and 10 percent decline in value over March 2007. This is a reversal of the trend seen the month before, when rough diamond exports by Belgium surged 20.11 percent by value in February.

In January, exports declined 10.08 percent in volume but increased 6.86 percent in value compared to January 2007.

Belgium's net March polished diamond trade ended with an overhang of $57.65 million worth of goods. The center imported $1.12 billion worth of goods while exporting only $1.062 billion in polished diamonds.

Antwerp traders noted to IDEX Online that currently it is cheaper to buy certain goods in New York, which could explain why imports were greater then exports.

In terms of volume, Belgium exported 804,598 carats while importing 864,486 carats, leaving the center with a surplus of 59,888 carats.

Exports of 92,693.51 carats to the U.S. were worth $261.38 million. No data on imports from the U.S. was provided by the Antwerp World Diamond Centre which publishes Belgium's diamond trade data.

Luxury Buyers Tighten Purse Strings

2008-04-25T16:30:00.000-07:00

Retailers who serve the highest income consumers have always thought that they were immune to a recession. Historically, that has been true, more or less.

“Old-money” consumers traditionally have kept spending, regardless of economic cycles. But this time around, high-end merchants are reporting that their wealthy customers are cutting back.

Among jewelers, Tiffany & Co., the world-renowned jeweler, reported that sales of jewelry above $50,000 were modestly lower in the fourth quarter of 2007 versus the same period a year ago. Historically, this has been the fastest growing price range for the company.

Other jewelers report that their customers are shopping down. That is, they are buying a three-carat diamond when they would normally have purchased a four- or five-carat diamond. Or, those customers are re-working a piece of estate jewelry, rather than simply buying a new piece.

Other luxury merchants have reported sales slippage. Coach, Nordstrom, Saks, Neiman Marcus and others have reported either a sales decline or only a modest increase. Overseas, even brands associated with the super rich are under stress. PPR, which owns Yves Saint Laurent, Stella McCartney, and Balenciaga, as well as Compagnie Financiere Richemont, the Swiss parent of Cartier and Baume & Mercier, report that the pace of growth has slowed.

Most economists and industry watchers don’t expect the current soft retail climate to firm up until after the November presidential election. Most say that regardless of who ends up in the White House in 2009, the prospect of change will likely boost affluent shoppers’ spirits, and thus increase their appetite for luxury goods.

Niemira, the economist, points out that luxury shoppers have a more direct relationship to the stock market than other consumers. The market’s gyrations are worrisome to those consumers. “Worry is not good for the psychology of spending,” he says. In other words, luxury shoppers can still afford to spend $400 on a handbag, but they are feeling less wealthy, so they delay the purchase.

Which Merchants Benefit?

Some merchants will continue to post solid sales gains during this recessionary period. One obvious example includes retailers with international exposure. Tiffany & Company, which derives 41 percent of its sales from international markets, expects overseas stores to post significantly larger sales gains than its U.S. stores in 2008. Further, the company plans to accelerate the opening of new stores in overseas markets.

Despite some weakness at the high end, most retailers of high end goods continue to post sales gains well above mass market merchants who target middle-income consumers. If a merchant is considering moving upscale, this might be a good time to do it, according to business consultants.

IGI gets into 'green' act

2008-04-25T10:30:00.000-07:00

New York, The International Gemological Institute (IGI) is the latest jewelry industry organization to go "green."

In anticipation of Earth Day, April 22, the IGI is announcing plans to offer grading reports printed on recycled and/or biodegradable paper using soy- and water-based inks.

The IGI Eco Report series officially will launch at JCK Las Vegas, scheduled for May 30-June 3 in Las Vegas.

According to a release from the IGI, these eco-friendly grading reports will be setting a green precedent in the jewelry industry, as IGI gemologists analyze, grade and issue thousands of reports daily for diamonds and colored gemstones.

"IGI is committed to reducing its environmental impact by offering reports in an environmentally friendly format," IGI President Jerry Ehrenwald said in a media release issued on Thursday. "We are eager to introduce the Eco Report series and urge retailers and consumers alike to help our planet."

The IGI was founded in 1975 and is located in Antwerp, Belgium; the Dominican Republic; Dubai, United Arab Emirates; Hong Kong; India's SEEPZ Zone; Kolkata, India; Los Angeles; Mumbai, India; New Delhi, India; New York; Tokyo; and Toronto.

Jewelers Mutual to pay out $5.8 million dividend

2008-04-24T13:30:00.000-07:00

Jewelers Mutual Insurance Co. has announced it will pay out a $5.8 million dividend to its U.S. commercial policyholders and personal jewelry insurance policyholders this spring, the largest dividend in the company's nearly 100-year history.

Each year, the Jewelers Mutual board of directors evaluates whether or not it can pay a dividend to policyholders based on specific financial criteria. As a mutual company owned by its policyholders, Jewelers Mutual has no shareholders that receive profits. Instead, the company uses profits to pay dividends, reduce rates, offer new or expanded coverages, and develop additional services.

With relatively few weather-related losses in 2006 and 2007, and policyholders' continued focus on loss prevention, the board voted to return $5.8 million to its customers, Jewelers Mutual President and CEO Darin Kath said in a media release issued on Monday.

Jewelers Mutual plans to mail the dividend checks after its annual policyholder meeting on May 21.

To qualify for the dividend, U.S.-based policyholders must have a policy in force as of Jan. 31, 2008, with a current-term written premium of $1,000 or more.

Policyholders insured for one year or longer as of Jan. 31 will receive a dividend of 8 percent of their current-term written premium. Those insured for less than a year as of Jan. 31 will receive a dividend of 4 percent.

The last dividend paid by Jewelers Mutual was $5.1 million in 2004, the year before Hurricanes Katrina and Wilma caused major damage along the southern U.S. coasts.

MVI offers Web services to jewelers

2008-04-24T12:00:00.000-07:00

MVI Marketing Ltd., a marketing-intelligence company for the gem, jewelry and watch industries, has announced that it has acquired an interest in IT firm ITECH Solutions, a move that will allow MVI to offer Web-development services to retail jewelers and manufacturers.

San Luis Obispo, Calif.-based ITECH specializes in providing Web development, computer and network services for growing businesses, and its co-founder, Forrest Hatfield, said in a media release that studies show visitors to a Web site make a decision on whether or not to stay within just a few seconds.

"The jewelry industry is faced with a tremendous opportunity to level the playing field in the battle with its competitors," Hatfield said. "Our affiliation with MVI will provide clients with innovation, creativity, cost efficiencies and hard-core sales growth from day one."

MVI and ITECH have already begun to work on several Web-development projects for jewelry manufacturers and retailers. These include inventory management and integration, search-engine optimization, customer-relationship and affiliate-relationship management, e-commerce and shopping cart solutions, newsletter development and deployment, integrated customer-satisfaction research, viral marketing, adword campaigns, and banner development and placement.

"The trend toward online research and shopping is not going away," MVI Chief Executive Officer Marty Hurwitz said in the release. "In an increasingly tougher competitive environment, the jewelry retailer, designer and manufacturer must learn to embrace the offerings of the Web and utilize them to their advantage. With MVI's insight and knowledge of the jewelry industry and ITECH's technological sophistication, we will help the jewelry industry leverage the Web opportunity to its best advantage."

MVI is offering a free, confidential Web review and recommendations to any company that is considering beginning, expanding or improving its Web presence. For more information about this service, visit MVI's Web site, Mvimarketing.com.

Trade of coloured gems to be promoted in region

2008-04-23T16:00:00.000-07:00

Moves are being made to boost the coloured gems and precious stones sector, which is at an infant stage in the Middle East.

The International Col-oured Gemestones Association (ICA) intends to promote the trade through its newly formed ICA GemBureau, Middle East. The bureau will be located on the top floor of the Almas Tower, headquarters of the Dubai Diamond Exchange.

“The world market for coloured gemstones is $20 billion (Dh73.4bn) per year but the volume of business generated in the Middle East is negligible,” ICA President Andrew Cody told Emirates Business. “For the next 10 years the coloured gemstones business will have a bright future because it is part of the fashion industry. If you open any fashion magazine it is all colourful except for the precious stones section, which remains largely white.

“The coloured gemstones business will improve Dubai’s image as a jewellery and precious stone business hub. We have signed a memorandum of understanding with the Dubai Multi Commodities Centre (DMCC) to promote coloured gemstones in the Middle East.

The recent decision by the Government of Dubai to reduce customs duty on coloured gemsones is a welcome step.

“There are special shops and fashion retail chains selling coloured gemstones in Europe, America and Australia but they are not popular here. The government is keen to open up the market, which will grow with the fashion industry. China is a huge market for gemstones and the ICA has signed an agreement with the government there to promote the trade.”

The GemBureau was set up by the ICA – a New York-based non-profit trade organisation – and the DMCC to meet the requirements of association members and trade representatives.

AGS Laboratories Produces Consumer Guide to Diamond Buying

2008-04-23T14:00:00.000-07:00

American Gem Society (AGS) Laboratories launched the company's consumer guide to diamond buying, a DVD titled Diamond Buying 101, at the group's International Conclave in Seattle. The DVD features the commentary of Frank Dallahan, president and CEO of AGS Laboratories; Peter Yantzer, executive director; and Ruth Batson, executive director and CEO of the American Gem Society; as well as candid interviews with would-be diamond buyers.

At just more than 12 minutes in length the group contends Diamond Buying 101 is a practical, informative, and in-depth consumer guide to diamond buying. With a comprehensive overview, including specific examples and demonstrations, of the 4Cs; industry terms such as brilliance, fire, and scintillation; questions to ask the retail jeweler; benefits of shopping with an American Gem Society jeweler; and a summary of the AGS Laboratories, its capabilities, and grading reports. The DVD is available at no cost.

"Taking on the task of writing and producing the most honest and informative diamond buying resource for consumers could have been overwhelming," said Dallahan. "However the process, to a degree, proved cathartic. It's not uncommon to lose sight of the mission of one's company while managing day-to-day operations and activities. This project reminded us that the American Gem Society Laboratories' mission has been, and always will be, to protect and serve the consumer with the most accurate documents, the highest standards in diamond grading, and the most unbiased information. Diamond Buying 101 envelops all of these things."

Sellers Revolt As eBay Goes Corporate

2008-04-23T10:00:00.000-07:00

FOR more than a decade, eBay has functioned as a global jumble sale where browsers can buy and sell everything from bric-a-brac to a Gulfstream jet. eBay was known for the availabilty of cheap little odds, the site was *used* to be brilliant for picking up the most absurd and unlikely things imaginable. So far-reaching has eBay's appeal become that millions have taken to disposing of their wares on its online pages. Now, however, the internet auction site is facing a revolt from some of the individual internet users that helped to establish it as a worldwide brand.

A worldwide one-day boycott of eBay, which has annual revenues of £3.8 billion, is being organised for May 1 and British users of the site are among those intent on implementing it. The internet giant was founded in 1995 and its celebrity users include Sir Paul McCartney, Johnny Depp and Cameron Diaz - Cherie Blair has admitted to bidding for shoes online.

The changes are being introduced by John Donahoe, who took over as chief executive last month. He has said he wants to upgrade eBay's image from a flea market to something more like a shopping centre.

Until now, eBay traders have been able to rate each other's conduct on the site, thereby enabling other users to judge how trustworthy they are. The system is vital in allowing small sellers to build a good reputation. It also allows them to post responses to abusive or untrue comments written by buyers. From May, eBay is banning sellers from posting feedback at all in order to avoid unjustified comments posted on buyer and seller profiles unfairly compromising their reputations. This was credited with establishing the bedrock of trust to enable strangers to buy and sell each others' goods anonymously.Only buyers will be able to post comments on the service they have received. This will leave sellers with no reply to postings that damage their reputations.

The sellers argue that the move is an excessive attempt to professionalise the site by imbuing it with the attitude that "the customer is always right" rather than the trades being a matter of give-and-take.

Tony Mills, a British eBay trader, said in an online posting: "The changes will allow buyers to be more honest when leaving feedback, it will also allow them to be more dishonest about it, too. They shouldn't be taking money from people in the first place if they think they are bad sellers."
The suspicion that eBay is favouring big business was sharpened in February when the company made changes to its charging structure.

The cost of listing items for sale was cut by up to a third, but the fee payable on completion of the sale - based on a percentage of final price - rose from 5.25% to 7.25%. Those who sell large quantities of items through the site can qualify for discounts of up to 40%.

“We are a marketplace founded on trust. While that is a very powerful proposition, it does mean that if people have a bad experience on our site, caused by a poor seller, then they will no longer use the site,” said Vanessa Canzini, a spokeswoman for eBay.

“Clearly, this is in no one’s interest, least of all our sellers, so the changes we announced recently are unashamedly focused on protecting buyers.”

Canzini said the site was not trying to alienate small users and that most sellers would see their overall fees stay the same or even decrease, while malicious comments from buyers would be removed by the company.

Justification by ebay :-

Among other changes that have hit the popular auction site, eBay will now be blocking sellers from leaving negative feedback about buyers. EBay claims that there were problems slowing down sales when buyers left negative feedback about the seller who then fired back.
Starting in May, sellers on eBay will no longer have the option of leaving negative or neutral feedback about buyers.

According to the BBC the change will affect all eBay users worldwide but sellers are not convinced this is for the better. They say it will leave them defenseless when a sale goes bad. EBay says that will not be the case.

Zales vs. Peers: Possible Difficulties Ahead

2008-04-22T10:30:00.000-07:00

Filed under ZALES :- Today I would like to call attention to specialty retail jeweler, ZALE Corp, (NYSE:ZLC) and the difficult challenges it must overcome to successfully outperform the market. After a brief analysis, I have come to the conclusion that it will face many uphill challenges in the coming year. A weakening economy coupled with an inflationary environment will hamper efforts to revitalize the retail jewelry market, especially where specialty brick and mortar retailers already face stiff competition from all fronts including: booming Internet sales from as Blue Nile (NASDAQ: NILE) and Ebay (NASDAQ: EBAY), discount retailers such as Wal-Mart (NYSE:WMT), and high end retailers such as Tiffany's (NYSE: TIF).

Investors looking into Zales must keep in mind that the majority of its sales and profitability comes from the holiday season centered around Christmas. The remaining quarters are loss leaders, and produce no positive earnings per share. It will be difficult to access Zales true performance until the early 2009, when the results of the future holiday season are to be posted. Investors need to be prepared for the fact that for the next three quarters, a negative earnings per share of -.54 to -.62 is to be expected, according to a Standard and Poor report based upon forcasted operating EPS. That is a long 9 month wait for any positive news to come from Zales, where alternatively, capital could be allocated to more effective uses.

Along with the recession, and weakening consumer demand I'd like to address several issues that Zales faces in the next three quarters.

MANAGEMENT

The question of Zales' success hinges on whether management has the ability to turn around an already fledgling retailer and stimulate consumer appetite amid a difficult retail environment. On the heels of Zales management is Richard Breeden, a former SEC chairman turned shareholder activist who recently acquired a 13.5% stake in Zales. There is immense pressure for Zales management to improve results, or face the prospect of a buyout. With the appointment of Neal Goldberg, former CEO of specialty apparel retailer, Children's Place NYSE: PLCE, it is difficult to say so. His new appointment at Zales retests many of the same challenges which he oversaw at the Children's Place, including a weakened demand for premium retail products, and pressure from activist shareholders such as Carl Icahn, like Breeden who have short timeframes for turnarounds. Under his previous management position as President of The Children's Place, NYSE: PLCE, he oversaw the unsuccessful merger with Disney Stores, which floundered for several years, resulting in its eventual divestiture, along with attracting a lawsuit accompanying the Children's Place and its breach of contract for non-performance. Could a disastrous turnaround plan, again, under pressure from activist shareholders tempt Zales management to pursue an opportunity of opposite synergies? A Catch-22 situation can only serve as a distraction to management as they seek to realign their core competencies towards the middle jewelry market.

EARNINGS

Zales, being a specialty retailer, recognizes the majority of its revenue during its quarter ended Jan 31th. Earnings from continuing operations totaled just 59.2 million dollars for 2007,or an EPS of 1.21 for fiscal year 2007. Investors should note that the to a sale of bloated inventory accounted for 13% of the net income applicable to common shares for 2007. In the future, I expect that Quarter 2 results, which should be released sometime around May 31st, will undoubtedly have charges due to discontinued operations, and the planned closure of 105 stores. Severance costs which will immediately be charged to income could possibly hamper second quarter earnings, as well as a $100 million share buyback program announced on March 27th. Any savings from closures will take time to recognize as leases are broken, and payrolls are shaved due to attrition. According to an Standard and Poor report, earnings from continuing operations for 2008 are forecasted to be a negative -.61 per share.

COST OF SALES

The cost of sales category includes cost of merchandise sold, as well as receiving and distribution costs. Cost of sales as a percentage of revenues was 50.7 percent for the quarter ended January 31, 2008, compared to 48.5 percent for the same period in the prior year. According to management, this increase of 140 basis points resulted from the decision to liquidate certain discontinued and damaged inventory in lieu of refurbishing and selling the inventory through store channels. A 60 basis point charge was associated with excess inventory and a decline in revenues was recognized, associated with lifetime warranties. Interestingly the effect of gold prices may not materialize in the cost of sales. While Gold is near record high, their inventory is likely to be purchased in advance, and may therefore not materialize into higher prices one year forward, assuming an inflationary environment. However the weak dollar may also effect Zale's purchasing power, as its suppliers most likely originate from overseas, including South Africa for raw materials, and China for its labor in producing jewelry. It should be noted though, according to management's opinion, changes in revenues, net earnings, and inventory valuation that have resulted from inflation and changing prices have not been material during the periods presented (2007). And although currently not material, as stated by management, recent increases in gold prices have negatively effected the cost of merchandise inventory. In a report of risk factors in their annual report, "the trends in inflation rates pertaining to merchandise inventories, especially as they relate to gold and diamond costs, are primary components in determining their last-in, first-out inventory. There is no assurance that inflation will not materially affect us in the future". Management's success in using forward hedging contracts for inventory purchases has yet to be seen, as it will depend on them successfully speculating on the price the gold in the future, no easy task given the volatile commodities market.

Inventory and Fixed Costs.

Average inventory turnover for Zales is acceptable and in line with industry averages, yet other financial ratios indicate industry weakness. Zales has a respectable inventory turnover inline with competitors of 2.5. Compared with the Signet Group of 2.6, Tiffany's of 2.46, it is effective in managing inventory. However there are significant fixed costs which Zales shows weakness in.
Calculating revenue per employee however, shows some startling results. Revenue per Employee at Zales of $143,352 which lags behind competitors by a large margin, where Signet is able to enjoy $221,964 per employee and Tiffany's of $290,909 per employee. The heavy concentration of physical stores and mall kiosks also weigh in on margins when compared to online retailers such as Blue Nile, or big box retailers such as Walmart which can utilize retail space to adjust to seasonal demand. Clearance Items: Coupled with their recent $100 million divestiture of inventory, a casual browsing of their website will reveal some 1604 items sold at discount or at clearance prices, the largest of any category. Their aggressive buy one get one 1/2 off inventory reveals and additional 360 items. For comparison's sake, top selling items at Zales reveal 221 items, Wedding items reveal 585 items, Journey jewelry or "love jewelry" reveals 295 items. The abundance of clearance inventory relative to other categories suggests a lack of pricing power and the need to quickly reduced tied up capital in inventory. Competitors such as Tiffany or Blue Nile do not even offer clearance items which may possibly dilute the brand name.

These are some factors which I have so far considered. In closing, I prefer to look for companies which have a wide, sustainable competitive advantage, or as Warren Buffet would prospect for, a "Wide Moat". Discretionary spending of jewelry faces stiff competition, not only from the razor thin margins of Walmart and its jewelry department, but from digital competitors as well, including Internet jeweler Blue Nile, which has the advantages of having tighter inventory control as well as low fixed costs. Only the holiday of season of 2008/2009 will reveal the success of Zales management as they seek to improve upon operations. In the meantime, high valuations of Zales, and implications that it is a growth stock need to be examined carefully.

Gas prices disrupt U.S. consumer spending

2008-04-21T12:30:00.000-07:00

Dramatic fluctuations in gas prices are disrupting U.S. consumer spending, leaving shoppers with less money to spend at retail and on entertainment and dining out, according to a new study by The Nielsen Company.The Nielsen's research shows that higher gas prices create a modest change in the number of average weekly gas trips, with consumers averaging 1.3 trips to the gas pumps per week, up from 1.24 trips when gas prices were at their lowest ($2.11 per gallon).

Gas prices have hit national records.An American Automobile Assoc. survey showed that the average price of unleaded regular is $3.53 in Miami-Dade and $3.50 in Fort Lauderdale, which is higher than the statewide average of $3.47.

With rising energy prices oil hit records above $115 a barrel this week, causing concern about the potential damage to the economy. Americans are spending a larger share of their income on energy than at any time since 1986. That has crimped pocketbooks and helped dampen consumer sentiment. Purchases of everything from cars to clothing are falling.Consumers will be spending nearly a fifth of their household budget on gas," said Todd Hale, senior vice president of Consumer and Shopper Insights, Nielsen Consumer Panel Services. "That kind of increase has a direct impact on what they can afford to spend and is something retailers will need to address."

Though consumers might be making more trips to the gas pumps each week to limit the amount they spend per trip, they are not able to limit the amount they spend on gas each week. Nielsen's study shows that the amount of money consumers spent on gas each week increased dramatically as a result of higher gas prices. Per trip spending rose significantly, up 40 percent from $24.42 per trip when gas was at its lowest price, to $34.11 when gas prices hit their peak. With consumers making more than one trip to the gas pump each week, overall weekly gas spending rose from $32.02 to $46.72 per household—a 46 percent increase.

"Consumers tell us they are combining errands and trips, eating out less and doing more things at home to counterbalance rising gas prices," Hale said. "Nevertheless, the amount of money spent on gas each week is still taking a huge bite out of consumers' budgets."
"We are all worth less and earning less than a year ago," says economist Mark Zandi of Moody's Economy.com. "That is why consumers are pulling back, and judging from the confidence numbers they are in a panic mode."

Energy prices, particularly at the pump, are now part of the presidential campaign. On Tuesday, Sen. John McCain (R) of Arizona, as part of a broad economic plan, proposed removing the federal tax on fuels, 18.4 cents a gallon for gasoline and 24.4 cents on diesel from Memorial Day to Labor Day.

"The effect will be an immediate economic stimulus - taking a few dollars off the price of a tank of gas every time a family, a farmer, or trucker stops to fill up," said Senator McCain in his speech at Carnegie Mellon University in Pittsburgh.

Affluent cope with economy through savvy shopping

2008-04-18T10:30:00.000-07:00

Americans have pushed steadily into the suburbs, transforming the landscape and (until recently) leaving cities behind. But today the pendulum is swinging back toward urban living, and there are many reasons to believe this swing will continue.Westlake Village, Calif.—A search for certainty, children's preferences and business discipline are shifting the affluent consumer's purchasing habits, according to The Second Annual Survey of Affluence and Wealth in America, produced by American Express Publishing Corp. and the Harrison Group.

The survey, which polled approximately 1,800 individuals with $100,000 or more in annual discretionary household income, found that 70 percent of affluent consumers are choosing to shop "high tech," using Internet strategies to identify, price, compare and sometimes buy significant fashion and home purchases online. These consumers tend to choose online outlets when they are pressed for time, when their past in-store experience did not meet delivery or fulfillment needs, and when they are unafraid of fraud.The remaining 30 percent are "high touch" and prefer to shop alone, in-store, with a knowledgeable salesperson.They tend to choose an in-person retail experience when it involves less than 30 minutes of travel time, when they want to savor the shopping experience, when they are searching for something unique and when they believe a salesperson will add value.

"Our research illustrates how today's affluent and wealthy consumers consider a variety of marketplace and lifestyle factors when making purchasing decisions, be it online or in-store," American Express Publishing Corp. President and CEO Ed Kelly said in a media release. "These customers are also searching for greater certainty in their shopping experiences—whether it's the certainty of excellent value or the certainty of quality. Clearly, it's a new game for luxury marketers and a considerable opportunity to understand and anticipate these changing behaviors and purchasing patterns."

The survey also found that the female head of household, working or not, often manages the day-to-day running of upscale households. Eighty-one percent of respondents (both men and women) said the primary responsibility for buying supplies, including groceries, household necessities, apparel and high-tech needs, is handled by the wife, compared with 26 percent by the husband.Mothers in upscale households, in turn, depend upon their children for ideas on brands to buy, places to shop, technology to deploy, vacation ideas and even "home capital spending choices." Fifty-three percent of respondents report an inclination to purchase "brands that are preferred by my children".

Meanwhile, today's well-to-do families, far removed from the current sub-prime mortgage crisis, have financial anxieties. While nearly three-quarters of respondents (73 percent) are extremely or very optimistic about their own future, only 30 percent share that optimism about the future of America, and even less (26 percent) share this feeling about the future of the world. The study reveals that the more money the respondents have, the less anxious they are.

Purchase decisions for the affluent are driven by specific needs, either to replace a product (57 percent), upgrade an existing product (35 percent) or purchase a new product for a specific occasion (35 percent).In contrast, only one-third of respondents are spurred by browsing. Purchase decisions are largely made due to personal experience (71 percent) and family and friends (37 percent), followed by point-of-sale elements such as salespeople and the in-store experience (35 percent).

Among mass media, the Internet (43 percent) and magazines (30 percent) are cited as the top purchase influencers of the affluent. Just over a quarter rely on experts and objective sources of information (29 percent), with only 19 percent relying on more traditional mass communication outlets such as radio, television and direct mail.

American Express Publishing is dedicated to informing, enriching and empowering affluent Americans, and the Harrison Group specializes in understanding affluent and wealthy markets. Together, the two companies have partnered to produce this study, which provides an understanding of the consumers at the top 10 percent of the American financial pyramid.

Hadar Company Founder Weighs In on Skyrocketing Metal Prices

2008-04-17T11:00:00.000-07:00

Today, Hadar is a worldwide supplier of Russian Brilliants, natural diamonds and synthetic stones and was founded in the year 2000.The Company specializes in ideal cut stones and has clients on five continents. Hadar is a full service jewelry provider, offering custom designs, contract manufacturing and jewelry repair services, all at competitive prices.

Gerry Hauser, founder of Hadar Company, advises consumers to buy jewelry only made in the U.S. these days, in light of skyrocketing precious metal prices. In addition to being founder and president of Hadar Company, Hauser also co-founded La Jolla Diamond Co. and Heritage Estate Buyers, Inc. and is recognized as an authority on diamonds and diamond simulants.

"The price for gold continues to climb to new highs, increasing from $600 to $985 an ounce," says Hauser, "and platinum values have risen from $1,100 to $2,260 -- all in the past year. Price proliferations are fueled by international demand for jewelry and investors hedging against inflation."

To compensate for the higher metal prices, Hauser says many competing companies sell rings manufactured in China. Most 14KW rings are high polished nickel over white gold and 'flash' rhodium plated. Initially, the ring will appear very shiny. This appeal can last for three to six months. Hauser says nickel over white gold can produce an allergic reaction and can potentially cause lung damage.

"These rings are outlawed for sale in most of Europe," says Hauser. "Sizing is another issue. Flame used in sizing burns the nickel. The ring will turn black. Some platinum rings manufactured in China have hollow sections or are platinum plated over silver."

Hadar continues to offer engagement rings and other jewelry items manufactured only in the U.S. Hadar does not compromise quality to compensate for the rising cost of gold and platinum. In the previous twelve months, Hadar cut internal costs to maintain stable pricing.

To further aid consumers, Hadar has implemented an Easy Pay Plan. The Easy Pay Plan allows consumers to lock in the price at the time of purchase. Buyers will not pay more because of increased metal prices. Consumers can purchase loose stones or jewelry set in the metal of their choice with a 20% deposit / monthly payments / no interest / no credit checks. Now customers can design their own ring and payment plan. For more information, please visit http://www.russianbrilliants.net/ and http://www.hadardiamonds.com/.

Cash forGold USA.com Offers Huge Payouts to Americans During Economic Decline

2008-04-11T14:00:00.000-07:00

Americans affected by the recent economic downturn are selling their old, unwanted or broken gold jewelry to CashforGoldUSA.com in exchange for enormous payouts.

"Customers are sending in material valued anywhere from fifty dollars to more than five thousand dollars," says Norm Schneider, President of CashforGoldUSA.com.

"We had one woman tell us she used the money to book a trip to Hawaii to see her son for the first time in five years... it felt great to provide her with that opportunity."

CashforGoldUSA.com is an innovative website that makes it easy for the public to sell their used, unwanted or broken gold jewelry or silver material for a "higher price than any of their competitors Guaranteed."

In a recent interview, Schneider explained that his company has seen a recent spike in large payouts due to the latest boom in gold and silver markets. "Americans realize that with the market being so high there's no reason to hold on to jewelry that would otherwise just be collecting dust." Schneider went on to add, "Our country is currently under a lot of economic pressure... people are selling their unwanted jewelry because they need cash."

Cash for Gold USA's process is simple and streamlined.Consumers request a "FREE GOLDPAK" (a pre-paid, secured and insured envelope) by calling 1-888-GOLD-808 (465-3808) or by visiting their website CashforGoldUSA.com and filling out a Request Form for a GOLDPAK. The GOLDPAK is used to mail in the gold material.

Within 24 hours of receiving your GOLDPAK, a check will be in the mail, on its way to your preferred address. CashforGoldUSA.com also offers electronic payments through PayPal for consumers who need cash the same day and they have a Spanish version of their website for Spanish-speaking consumers EfectivoporOro.com.

They also recently launched an affiliate program, CashforSilverUSA.com that offers cash to consumers looking to sell unwanted silver items such as Sterling Silver Jewelry, Silver Bars, Sterling Silver Flatware and Serving Pieces, and anything else bearing the silver hallmark.
For additional information regarding the Cash for Gold USA program or to request a FREE GOLDPAK in order to sell your used, unwanted or broken gold jewelry visit CashforGoldUSA.com or call 1-888-465-3808. If you would like to learn more about Cash for Silver USA or Cash for Gold USA visit CJEnvironmental.com.

About CashforGoldUSA.com & CashforSilverUSA.com

CashforGoldUSA.com and CashforSilverUSA.com are both public programs funded by CJ Environmental, Inc. Their services include Precious Metal Scrap Refining, Electronic Scrap Refining as well as Dental Scrap Refining.

Despite economy,online sales continue to climb

2008-04-10T14:00:00.000-07:00

Americans are keen to internet marketing and according to a new study from Shop.org. retail sales are expected to experience sluggish growth this year, Americans will continue to flock to the Internet to buy clothing, computers and even cars.The State of Retailing Online 2008: Marketing Report shows that online retail sales are expected to increase 17 percent this year for 125 retailers surveyed.

"From higher shipping costs to changes in consumer shopping habits, online retailers are not immune to the current economic climate," said Scott Silverman, executive director of Shop.org. "But the fact that online sales will increase substantially this year demonstrates the resilience of the channel and is a testament to the value and convenience most customers find when shopping online."

As the number of people new to the Internet begins to wane, online retailers are constantly struggling between investing in strategies that retain current customers or those that attract new ones. According to the report, online retailers allocate 53 percent of their marketing budgets to online customer acquisition and 21 percent of marketing dollars to online customer retention. However, retailers are finding that traditional acquisition programs such as search engine or affiliate marketing may also serve as retention tools that attract existing customers as well as new shoppers.

Sucharita Mulpuru, Forrester Research principal analyst and lead author of the report said,"What's spearheading online retail sales growth is a tale of two shoppers that visit the Web for very different reasons, The casual shopper goes online to look for the best price, leveraging the transparency of the Internet to save money. However, more affluent customers appreciate the convenience of shopping online and are not necessarily looking for the best deal. Retailers would be wise to recognize there are significant opportunities within both audiences and should market to them accordingly."

According to the survey, retailers report that search engine marketing continues to be the most effective way to reach new customers, citing 35 percent of sales coming from that initiative. As a result, nearly all online retailers surveyed (90%) use pay-for-performance search placement, and 79 percent said they will make this tactic an even greater priority this year. Companies are also using offline marketing tactics to drive customers to the web, with catalogs and other direct mail pieces taking priority over methods like television and newspaper advertising.

Though free shipping offers have proven to get some consumers over the obstacle of shopping online in the past, the study showed that retailers' are less interested in promoting free shipping options this year.While 85 percent of online retailers said they used some shipping with conditions promotions in the past, just 35 percent said that they would focus more on these types of promotions in 2008. Instead, retailers are eager to experiment with Social Computing initiatives to attract customers ' 65 percent and 55 percent of retailers respectively said that social network advertisements and widgets would be categories of increased focus this year. However, Social Computing efforts to this point have been considered more effective for brand-building and less proven for driving revenue or sales conversion. Therefore, the report advises retailers to continue investments in proven techniques like email marketing and free shipping promotions to drive sales.

Optimism Prevails at Baselworld

2008-04-08T22:11:00.000-07:00

Every year the watchmakers and jewelers converge on Basel, Switzerland in the spring for Baselworld show. It is the place where exhibitors display some of the most dazzling luxury goods in the world.But the U.S. sub-prime mortgage crisis may prove to be an unwelcome guest that watchmakers fear could be a hindrance for business in the year ahead.It would be too soon to say what the outcome of Baselworld will be for diamantaires.Some are hailing the show as a great success (with plans for a bigger and better-located booth next year), while others are resigned to the fact that Basel is slow and just another necessary stop on the seemingly endless trade show merry-go-round.

Jacques Duchene, president of the BaselWorld Exhibitors Committee said the Swiss watch exports reached about 15.75 billion in U.S. dollars (16 billion Swiss francs) last year, a 16 percent increase over the previous year, and a rise of more than 50 percent over the previous four years, in a press conference,the day before the show opens.But despite the good news, economic troubles of recent months are worrisome, and companies should be prepared, Duchene said. He noted, however, that the Swiss watch industry is optimistic for 2008 since new markets in other parts of the world are developing, with Swiss watch exports to Russia up 57.4 percent and exports to China up 43 percent, for instance.

Vimal Lakhani, managing director of Kiran Gems, said the quantity of the people isn’t worrying him – he is interested in the quality, and this Sightholder, which specializes in white goods under 25 points, is seeing all the people it needs.“We are exhibiting for the first time for three reasons,” he says. “It’s a brand building exercise, we want to continue our relationship with our existing customers and we are looking to find new clients.”

According to Avi Paz of the Israel-based Avi Paz Group ,58 percent of exports goes to the U.S.therefore it would impact his trade but he also said there is a positive side to the decrease in the value of the dollar that people should not forget. “The interest rate of the dollar, which forms a lot of our expenses, has dropped. Fewer expenses will give us some oxygen, which is very important for our industry.”However being optimistic he said the U.S. will not affect him too badly,because of his philosophy of not concentrating on only one market and “We should not forget about the U.S., though,” he said. “We have to take care of it, even if it is going down.”

As for 2008 watch models, the Swiss will roll out original large chronographs for many of its new 2008 models, including ladies' chronographs that offer some innovative mechanical functions, said Francois Thiebaud, president of the BaselWorld Swiss Exhibitors Committee.Big cases, pink gold and jewelry-style watches for men are also on tap at this year's show.

Crossing borders through the Net to Sell Jewelry

2008-04-08T00:45:00.000-07:00

eBay Live Auctions is slowly being inundated with sellers of jewelry hailing from Thailand and India. These companies state within their online bidding agreements that buyers/bidders are subject to dispute arbitration under California law. In addition, those residing in California are subject to paying sales tax on their purchases. However, the sellers have no physical address in the United States..huh? While the Bidder Agreements are to be construed under California laws, these companies display physical addresses (according to their web site registrations) in countries such as Thailand and Greece. Contact information posted on associated web sites for these sellers displays international telephone numbers.

In reviewing eBay Live Auction (within the jewelry category), the product being offered (according to Feedback left by buyers) is either great or sub-standard. One seller received dozens (did not have the time to count all of the pages) of negative feedback (from just one buyer)who has so many claims against the seller, as to make one wonder who's policing eBay Live auctions. If there was ever a time where an inordinate amount of promotional gemstones and industrial diamonds, were being hawked on the Internet, those offering goods out of India and Thailand must have truly cornered the market. These sellers are using words to describe gemstones as Fine, AAA, AAA++++++, Natural, Authentic and just simply out of this world. The non-stop jewelry auctions on television are entertaining, however, the sellers out of Thailand and India are truly making a concerted effort to inundate the U.S. market with product that is simply appalling in both design and quality.

The true asset test for the rings with super sized big stones would be to drop them in a glass of warm water and see if the water turns the color of the gemstone. What's even more amusing is the certificate of authenticity that comes along with the purchase of a so-called Fine 25.00 Carat Emerald and Diamond Ring. There are four or five sellers all selling the same product at whatever price the market will bear.What's even more astounding is that all of these auctions are running in the same line. Seems that one seller out of Thailand, manufactures goods to a number of other sellers. In other words, all of this product (which is high priced and would not stand the acid test of a "real" appraisal) is all coming from the same place.

Then comes the notion of why would anyone residing in the United States buy jewelry from anyone in Thailand or India and pay the high shipping costs and duty? However, if one wants to return an item, they can send it back to the concerned addresses. Are these companies domiciled in California, Thailand or India?

Want to buy jewelry or gems? How about a visit to your local jeweler in your own hometown? If you want to buy it on eBay, buy from legitimate (domiciled) companies that you can actually contact without having to dial a country code.