Many jewelry buyers duped by fake rubies

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

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)

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

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

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

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

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.