Archive for June 18th, 2009

Pressure put on Congress to reconsider the Ruby Ban

A number of jewelry industry organizations are urging Congress to consider lifting the U.S. ban on rubies imported from Myanmar, such as those pictured here
A number of jewelry industry organizations are urging Congress to consider lifting the U.S. ban on rubies imported from Myanmar, such as those pictured here

Las Vegas--A united force of the World Jewelry confederation, The American Gem Trade Association and several other jewelry companies is pushing Congress to reconsider the ban of Ruby imports from Myanmar, as reported.

The embargo on the import of Burmese rubies and jadeite to the United States went into effect in September 2008 as part of the Tom Lantos Block Burmese JADE (Junta's Anti-Democratic Efforts) Act of 2008. The act, initiated by the late U.S. Representative Lantos and ultimately signed into law by former President Bush, was designed to cut off funds to Myanmar's military junta--rulers who have received U.S. government condemnation for human rights abuses, including violent crackdowns against peaceful dissenters.

"We're asking Congress to re-address this issue," AGTA President Doug Hucker said during an educational seminar at the JCK Las Vegas show on Friday afternoon. "We feel that this [embargo] is not going to achieve the expected goals."

Signing onto a letter sent to Secretary of State Hillary Clinton are the following organizations: Canadian Jewelers Association, Hong Kong Jewelry Manufacturers' Association, Indian Diamond and Color stone Association, International Colored Gemstone Association, New York Gem Dealers Association and the Thai Gem and Jewelry Traders Association.

In the letter to Clinton, the groups say that they condemn the human rights abuses of the junta, but do not think the JADE Act will achieve the intended economic sanctions on the government. Rather than reduce the coffers of the military government, the crackdown has hurt poor people in Myanmar, many of whom are not only miners but leaders in resisting the junta, Hucker said.

"Artisinal mining communities in Burma are being hurt by these actions," Hucker said.

The groups estimate that tens of thousands of Burmese small-scale artisinal miners in rural areas of the country, where rubies have been a key part of the economy, have been impacted by the sanctions.

Also hurt are jewelry manufacturers in China, Hong Kong, India, Sri Lanka, and Thailand, where the rubies were cut and made into jewelry before the act went into effect.

Meanwhile, most of the jadeite that is sold through state-controlled auctions in Myanmar goes to the Chinese markets, which purchase it for their own consumption.

Hucker said those who are interested in sending a letter of their own, but who need assistance in finding out which local Congress members to write to, can send an e-mail to him at doug@agta.org.

For as long as the ban remains in place, however, Hucker said jewelers should be prepared for questions about Burmese rubies from their customers and be ready to assure them that the gemstones they are selling follow the letter of the law.

"Get a warranty in some shape or form [from suppliers] that these are rubies from somewhere else, such as Tanzania or Madagascar, or a guarantee that they are not subject to the [JADE] Act because they were imported before September 2008," he said.

Partnership forged between Jewelers of America and Jewelers Mutual Insurance Co.

jewelers-americaThe Jewelers of America and Jewelers Mutual Insurance Co. have announced a strategic partnership to enhance the services they provide to the retailers in the jewelry industry.

Both the organizations will work closely with each other based upon their long history of mutual support. With this alliance they want to come closer in developing better products and services so that they can meet up with the needs of the retail jewelers. Both the groups will share information on their respective areas of expertise like business management, retail strategies and insurance issues.

Darwin Copeman, president and CEO of Jewelers Mutual said, “While we have long supported the well-known and respected Jewelers of America, this new partnership is a strategic commitment that infuses both organizations with an exhilarating synergy that will benefit the jewelry industry as a whole.”
“Jewelers of America is proud to be partnering with an organization that shares similar commitments - such as protecting, and promoting, the invaluable services of the independent jeweler,” said Matthew A. Runci, Jewelers of America President & CEO. “We look forward to expanding our members’ access and awareness of Jewelers Mutual’s excellent security training and safety education, in addition to working on future projects together.”

Through this partnership the Jewelers of America endorses the exclusive Jewelers Mutual’s commercials and personal jewelry insurance products. Jewelers Mutual will be rendering its support to Jewelers of America through continued sponsorship and funding for its projects, industry events as well as initiatives. JA members will also be benefitting from free access to the security training courses offered by Jewelers Mutual along with free supplies.
The first project of this project will be the Jewelers of America Bench Certification Scholarship program. Through this scholarship program the jewelers will get wider access to the nationally recognized certification credentials, which distinguish bench jewelers and their employers by assessing their bench skills and proficiency at four skill levels.

Darwin Copeman also said that, “In these challenging economic times, partnerships afford the opportunity to stand together, reaping rewards for everyone in the jewelry industry.”

Stuller’s “Live Diamond Try-On” iPhone application

Stuller's "Live Diamond Try-On (brought to you by Red Box Diamonds)" iPhone application allows users to pick out a diamond engagement ring, try it out for size using an image of their own hand, share the image with friends and find a jeweler to buy the ring from.
Stuller's "Live Diamond Try-On (brought to you by Red Box Diamonds)" iPhone application allows users to pick out a diamond engagement ring, try it out for size using an image of their own hand, share the image with friends and find a jeweler to buy the ring from.

Stuller in association with Gemvision Corp. has come up with an iPhone application that allows the users to pick any diamond engagement ring and try it out for size using an image of their own hand. They can also share this image with friends and find a jeweler to buy the ring from.

There are thousands of downloadable applications for the iPhone users. There are a variety of options to choose from while they are on the go to do everything right from playing video games to manage their money and to get workout tips.

And now the diamond ring application will soon be added to the list which was unveiled by Stuller during the Las Vegas show, which was named "Live Diamond Try-On (brought to you by Red Box Diamonds)." The application will be available soon in late summer and the iPhone users will be able to use it for free via the iPhone store as per Kerry Hand, Stuller's executive director of marketing services and public relations.

Hand and Ryan Koning, director of advertising, communications and events for Gemvision, demonstrated how the program will work. The first step is to use the iPhone’s touchscreen to go to the application, the users will get a prompt to choose a diamond by carat size and shape, and then a mounting by precious metal colors which are either white or yellow. As of now there is limited number of ring styles to choose from through the application, but the application includes various classic styles and additional choices that feature side stones.

Once the user decides on the diamond and precious-metal color, it’s time to try it on. The user will have to take a picture of her hand using the iPhone camera. Then, using the iPhone's touch screen, the user can position the ring onto the picture of the hand, adjusting for a perfect fit. The iPhone can also be directly held on the hand with the image tilted to enjoy the twinkle of the diamond image. Once the image is ready with the person’s hand and the chosen ring, it can now be e-mailed to friends and family or even posted on Facebook, Twitter, etc.

If you like the ring and want to buy it then you can also track down the ring through the “find a jeweler” function of the Live Diamond try-On application. It uses the phone’s GPS function to pull up Google maps and place virtual pins on the nearest Red Box Diamond Jewelers, ranking each one selected based on proximity, Hand says.

Hand also said, "This is the beauty of the application. It drives consumers to dream big and them pushes them to spend big with Red Box Diamond retailers."

This new application is only one of the other new programs that Stuller will be offering to let the jewelers to take advantage of the digital technologies to give consumers expanded options. During the same JCK Las Vegas show, Stuller also launched its Virtual Diamond Selector program which will help the retail jewelers to go online with customers and choose from 10,000 diamonds by size, shape or color and the Customized Earring Program, which provides retail jewelers with the chance to customize a pair of diamond earrings exactly the way the customer wants them.

Stuller also provides, Stuller’s 3D Ring Engraver, which allows the retail jewelers to personalize a wedding band while sitting in the store along with the customer, they can choose a unique message with a particular font, and then get a dynamic 3D preview of how the ring will look once it is inscribed.
Jewelers who are interested in being a part of the iPhone application must be a Red Box Diamond jeweler. For more information you can contact Stuller via e-mail at info@stuller.com or by calling (800) 877-7777.

$3.6 million paid for the Blue Diamond at Christie’s

This 6.29-carat fancy-intense-blue diamond fetched $3.6 million, or $565,000 per carat, at Christie's on Thursday.

This 6.29-carat fancy-intense-blue diamond fetched $3.6 million, or $565,000 per carat, at Christie's on Thursday.

Last week we have seen yet another blue diamond dazzling for auction. At Christie’s spring jewelry sale there was a 6.29-carat fancy-intense-blue stone fetching $3.6 million.

In the press release the iconic New York based auction house informed that an anonymous buyer snapped up the pear-shaped stone, paying $565,000 a carat. This is yet another record setting sale of 7.03 carat flawless vivid-blue diamond by Sotheby's last month.

The other blue diamond was sold for $9.49 million which is the highest amount that was ever paid per carat for any gemstone sold in any auction.
On the whole, at the Christie’s New York Jewels auction there were signs of the economy’s slow recovery and in the auction they sold 91 percent as lot and 86 percent by volume. The Head of Jewelry Rahul Kadakia said a total of $11.3 million were made at Christie’s auction, "in a room buzzing with excitement.”

He continued saying, "Following our sales in Hong Kong and London, the auction in New York reaffirmed the strength of the jewelry market. We are delighted to end Christie's Spring Jewelry season with dominant market share of 65 percent in New York and 60 percent worldwide."

Few among the other stones which were sold included a 46.72-carat modified-rectangular-cut fancy yellow diamond with SI1 clarity, purchased by the U.S. trade for $602,500; a 10.01-carat pear-shaped internally flawless F-color diamond, which went to a private U.S. buyer for $458,500; and a diamond necklace by billionaire diamantaire Laurence Graff, purchased by a private buyer from the Middle East for $410,500.

DIT Group brands to be distributed by Opera Jewels

Opera Jewels will be handling the U.S. marketing and distribution for Italy’s DIT Group brands which will also include Stefan Hafner, Nouvelle Bague and IoSi.

Each of the brands are unique in itself showcasing the contemporary luxury brands which are the best among the Italian creativity. The Stefan Hafner’s diamond- and gemstone-studded pieces make up the high-end of the profolio and the Io Si offers innovative, fashion-forward designs. The Nouvelle Bague's line features playful enamel pieces which are accented with diamonds and gemstones.

Opera Jewels, a Miami-based prestige jewelry marketing and distribution company has other prestigious clients on its list such as the Valente Milano, a brand that won the coveted Town and Country Couture Design Award in 2008. Additionally, Opera Jewels has a partnership with couture fashion designer John Galliano, who produces fine jewelry in collaboration with Valente Milano.

Opera Jewels was founded in St. Martin, Caribbean in 2003 by Massimo Zerbini and Andrea Medri. They later moved the base of the company’s operations to Miami in 2008 with the intention of serving the U.S. market in a better way.