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Industry News: AGS Names New President; Diamond Prices Decline In April; Platinum Sales Up; More May 07, 2014 (0 comments)
AGS Appoints New President and 2014 Board of Directors
Las Vegas, NV—Louis Smith, Certified Gemologist (CG), of Smithworks Fine Jewelry, Spartanburg, SC, has been named president of the American Gem Society’s Board of Directors. He takes over the role from outgoing president, David Gardner, David Gardner’s Jewelers in College Station, TX. The appointment was made April 26 during the Society’s annual Conclave in San Diego, CA.
“Louis is going to be a wonderful President,” said Ruth Batson, CEO and executive director of AGS. “He has been a hard-working and committed member of our executive committee for the last four years, and is well-deserving of this honor.”
Smith (left), who will hold the role until April 2016, said, “I’m very excited to assume the role of president. We have a talented team at headquarters, and a hard-working and dedicated board. With that combination and our membership, I’m looking forward to great things in the next two years.”
AGS also announced the list of its 2014-2015 board of directors including:
- President Elect: Scott Berg, CG
- Secretary and Chair, Conclave Sub-Committee: John Carter, CGA;
- Senior. Advisor: Bill Sites, CGA;
- Treasurer: Kelly Kinas;
- Directors at Large: Beryl Raff, Yancy Weinrich and Charles Rosario;
- Chair, International Guilds Council: Laura Stanley, CGA
- Chair, Gemological Sciences Committee: Michael Richards, CG
- Chair, Education & Young Titleholders Committee: Lisa Bridge, CG
- Chair, Marketing Committee: Michael Wilson, CG
- Chair, Membership and GR Committee: Kelly Newton, CGA
- Chair, AGS Lab Advisory Committee: Mark Moeller, CGA.
- The Board also added three new members, each appointed as a Director at Large: Frank Brown, RJ; Scott Udell, and Stewart Wicht.
Certified Polished Diamond Prices Decline in April
New York, NY—Diamond markets slowed in April but market sentiment remained positive, according to the latest figures from the RapNet Diamond Index.
Demand was selective and price sensitive; trading was sporadic with the Passover and Easter holidays sending dealers on vacation. U.S. demand was stable but Far East markets were quiet and cautious.
The RapNet Diamond Index (RAPI™) for one-carat diamonds fell 0.5% in April, while RAPI for 0.30-ct. diamonds declined 1.3%, RAPI for 0.50-ct. diamonds dropped 0.9%, and RAPI for 3-ct. diamonds fell 1%.
Rough trading softened in April after prices increased approximately 7% to 10% during the first quarter of 2014. The market is expected to stabilize in May and June, but at lower levels than the first quarter. Globally, dealers have shifted their focus toward the Las Vegas shows at the end of May.
PGI’s Retail Barometer Shows Strong Platinum Sales Growth; Positive Outlook
New York, NY—The Platinum Guild International’s first annual Retail Barometer of platinum jewelry markets has reported growth across all markets in 2013, with a continuing positive outlook for 2014. The Retail Barometer captures sales from retailers to consumers, providing a specific viewpoint on market sell-through, and supplements the Platinum Review produced by Johnson Matthey in May each year.
Preliminary results for the United States in 2013 indicate that retail unit sales for platinum jewelry increased by 11%, beating both overall fine jewelry sales and US economic growth figures. The results were based on two proprietary surveys and third party feedback from more than 300 retailers representing all distribution channels.
Contributing factors include:
- Greater availability of lower priced “entry” platinum jewelry between $1,345 and $2,500.
- Millennial consumers yearning for something different.
- Relative parity of platinum and gold prices in 2013
The outlook for the U.S. platinum jewelry market in 2014 remains optimistic with growth expectations of 11%. For more information and to take advantage of PGI USA’s support programs please contact Huw Daniel, President PGI USA at hdaniel@pgiglobal.com.
2014 AGA Las Vegas Conference To Focus on Synthetic Diamonds
Las Vegas, NV—Join the Accredited Gemologists Association on Thursday, May 29, from 1-5 p.m. at the Platinum Hotel for an important conference on the state of today's lab-grown diamond industry and trade.
Leading experts will reveal new information and share valuable insights about what the future holds. Speakers and topics include:
- Dr. James Shigley, Distinguished Research Fellow, GIA (Gemological Institute of America) on "Identifying Lab-Grown Diamonds;"
- Dusan Simic, CEO, Analytical Gemology and Jewelry Laboratory on "Melee & Mounted Lab-Grown Diamonds: Challenges, Perspectives & Spot Indicators;"
- Tom Chatham, president, Chatham Created Gems on “What's Ahead: A Realistic Look At Production & Availability;” and
- Ronnie VanderLinden, Diamex on “Moving Forward: Markets & Pricing”
Nancy Robey Partnership, Inc. Launches Referral Service For International Jewelry Designers
New York, NY—Nancy Robey, founder and owner of The Nancy Robey Partnership, a strategic advisory agency, is now offering specialized business referral services for U.S. representatives of high-end international fine jewelry designer brands to connect with sales, marketing, and other business professionals.
These expanded services encompass a three-stage process designed to pair international clients with U.S. representatives best suited to support each brand’s needs for sales, distribution, marketing, strategic new business development, public relations, celebrity placement, showroom presence, trade relations, and trend forecasting.
“It just seemed like the natural next step for me to expand in this direction,” said Robey, whose 30-year career in the luxury sector of the industry translates into countless relationships with luxury companies and access to talented freelance professionals.
“There are some very elite professionals offering different services that go beyond the traditional outside sales representative roles. I can source the team needed to take a business to the next level,” she said. Call (917) 833-8248 or email nancyrobey@nancyrobeypartnership.com.
CIBJO Pearl Report Explores Unified Grading System
Milan, Italy—A unified pearl grading system will be on the agenda for the upcoming CIBJO congress here. CIBJO’s Pearl Commission will meet May 20 to discuss its latest report.
"A few pearl grading systems have been developed over the years, both as educational tools and for laboratory reporting," writes Kenneth Scarratt, author of the report. "Experience has shown that a universal grading system that covers nacreous pearls from all mollusks is a challenging task, as are the interpretation of the results."
Also to be covered are separation of natural seed pearls from small non-bead cultured pearls in the Arabian Gulf market, the search for natural pearls for scientific and gemological research, the state of the Australian South Sea cultured pearl industry, recent developments affecting the pearl sector of French Polynesia, and the CIBJO Pearl Blue Book.