Articles and News
Industry News From Cultured Pearl Association, Jewelers For Children; AGS; More June 17, 2015 (0 comments)
CPAA’s Sixth International Pearl Design Competition Calls For Entries
Providence, RI—The Cultured Pearl Association of America is calling for entries to the Sixth International Pearl Design Competition, now open and running through September 17, 2015. Winners will be announced November 2 and winning entries will be on display during the AGTA and JCK shows in 2016.
The pearl enjoys a history steeped in tradition and reputation as the iconic symbol of style, grace, privilege and influence, coupled with today’s vision of endless new possibilities for jewelry design and a new affinity for cultured pearls.
The competition invites artistic expression inclusive of all pearl varieties. Entrants may be a seasoned artist, award winner, or beginner—all are welcome and all design aesthetics are needed.
All entries have an equal chance to win due to the competitino’s theme-based designation. The judging panel will selects the entry they feel represents the theme in the highest possible way.
The competition’s awards are truly international: to date it has attracted entries from over 40 countries. Winners will enjoy award designation along with the prestige of recognition from this worldwide event.
For complete contest details visit www.cpaa.org or call (888) 31-PEARL.
Jewelers for Children Donates To Benefit Children in Nepal
New York, NY--Jewelers for Children has made a $ 25,000 donation to Save the Children’s Nepal Earthquake Relief Fund, to support efforts to assist children and their families in the devastated area. Children’s needs remain urgent one month after the earthquake. Save the Children's response continues and their relief workers carry on; grounded in nearly four decades of work in the impoverished country. But every day also brings news of children in desperate need as rescue workers reach battered villages and communities.
“While the industry does not do a substantial amount of work in Nepal, the board of directors felt the tragedy affecting so many children was worthy of our support,” said Ruth Batson, JFC board chair. “Our generous industry has once again stepped up to help in a crisis where children are involved.”
Save the Children, the Wilton, CT based non-profit dedicated to creating lasting change in the lives of children in need, has been a JFC recipient charity in the past, following the devastating tsunami in Asia in 2004, the earthquake in Haiti in 2010, the tsunami in Japan in 2011, and the Ebola crisis last year.
American Gem Society Offers Next Set Of Conclave Videos
Las Vegas, NV—The American Gem Society has released the next installments of 2015 Conclave on Demand video series. The first installment featured the keynote speakers from the April 22-25 Conclave in New Orleans, LA. AGS has now added additional video presentations from Conclave speakers as well as some key industry experts, including:
- “The Tao of Ta-Da,” Joel Zeff;
- “Win/Win Negotiation with Confidence,” Joy Baldridge;
- “Creating Loyalty and Unity Within Your Team,” Bryan Dodge;
- “Nonstop Sales Boom: Powerful Strategies to Drive Consistent Growth Year After Year,” Colleen Francis;
- “Ethical Challenges and Opportunities in the Jewelry Industry,” Martin Rapaport;
- “The State of the Industry,” Rob Bates
Conclave on Demand is open to all members of the American Gem Society and the industry. Click here to watch.
Museum of Named Diamonds Focuses on Romance And Unique Diamond Stories
Denver, CO—The Museum of Named Diamonds, an online museum, opened June 11 with a mission to bring together the stories and emotions that diamonds represent.
"Every diamond has a story, which connects it on some level to a relationship," explained Krista Olson, executive director of the nonprofit entity. "Grading labs record gemological data. The Museum records emotions, memories, and the excitement behind the diamonds themselves. We believe these elements are no less important than the Four C's."
The online museum showcases both famous diamonds (such as the Hope and the Cullinan), and "personalized diamonds" of individual consumers.
"Any diamond can be featured in the Museum," explained vice-chairman Jacques Voorhees. "The process is simple. A name must be chosen to make the diamond unique, and to connect it somehow to the relationship it represents. For example, one of our personalized diamonds is named ‘Strawberry Harvest,’ because the money to buy that one-third carat engagement ring was earned picking strawberries during the Great Depression.
“That story and many more are preserved in the Museum. We bring these stories to life, and help remind people that diamonds aren't commodities. Each one is a sliver of history. Each one is special."
The Museum works with retail jewelers through its "curators" to make it easy for consumers to name their diamonds and showcase them in the Museum. The fee for the service, which includes the creation of original artwork that becomes the named-diamond's visual emblem, is $99 to the public, $79 to the trade, or $69 if purchased in quantities of ten or more.
The Museum operates the Official Archive of Named Diamonds as part of its service, to ensure that no two diamonds have the same name. "Obviously, there can be only one Kohinoor," noted Olson.
Each named diamond is featured on its own Museum page, which can be shared via social media plug-ins such as Facebook and Pinterest.
"A recent study found that 88 percent of engaged couples use social media to share a picture of their diamond," said Olson. "Now they can share their diamond's full Museum page, including its name, story, and accompanying artwork, making the experience more exciting. And the experience is what today's Millennials care about."
"We are giving away the naming service on every diamond we sell, over one quarter carat," said Stephen Burstein, of Kansas City-based Stephen's Fine Jewelry. "It helps us move the conversation back to the relationship the diamond represents, and away from mere commodity pricing."
Sheri Busse, owner of Emerald City Jewelers, an AGS store in Quincy, IL, says this is one of the best tools for closing sales that she’s seen. "I've always wished diamonds could talk, and tell their story. Now with the Museum of Named Diamonds, they can. This is perfect for today's bridal customer!"
In addition to Olsen and Polygon founder Voorhees, governors of the Museum include industry veterans Bill Boyajian, former president of GIA, and Jeffrey Fischer, president emeritus of the Diamond Manufacturers and Importers Association. Serving as consultants are Robert Procop, gem expert and editor-in-chief of the newest edition of Ian Balfour's authoritative Famous Diamonds tome; and Dr. Jack Ogden, an expert in diamond history and formerly Secretary General of CIBJO and CEO of the Gemmological Association of Great Britain.
The Museum captures the diamond's name, and the story it represents. This owner picked strawberries to earn enough money to buy the diamond.
Optionally, the diamond's name can be inscribed on the girdle, including the Museum's registration mark.
Glow-In-The-Dark Watches May Require Nuclear Regulation
New York, NY—The U.S. Nuclear Regulatory Commission recently sent notices to industry members regarding the licenses required to possess and distribute watches that contain tritium, a nuclear material used to create a glow-in-the-dark effect on watch faces and hands.
In its notice, the NRC reminded both manufacturers and distributors that licensing is required by initial possessors, and by distributors, of any consumer products containing nuclear material to make sure that they do not present a risk to the public or the environment. This notice is similar to the notices that were sent by the NRC in 2008 pertaining to irradiated gemstones.
According to the Jewelers’ Vigilance Committee, there are two separate licenses that are required: one for possession and use, and one for distribution. Entities that manufacture, process, or produce watches containing tritium are required to have a “Possession and Use” license which also allows the transfer of watches to any other entity that has the same license. Most states have agreements with the NRC allowing these states to issue Possession and Use licenses. Companies located in a non-agreement state should apply for the Possession and Use license directly with the NRC. Information about the NRC’s Agreement State Program can be found on the agency’s website at www.nrc.gov.
The second relevant license is the “Exempt Distribution” license, issued by the NRC and required to distribute the watches to companies or persons that are unlicensed and considered exempt from NRC regulatory authority. Most entities that acquire a “Possession and Use” license will also need an “Exempt Distribution” license. Further details on the requirements for obtaining this license are available from the JVC.
Distributors of watches with tritium may elect to partner with third-party holders of the appropriate license, as opposed to obtaining the license themselves. Distributors may engage the services of licensed entities, but should take steps to ensure that these entities are in complete compliance with NRC regulations.
Foreign vendors that have established an address in the United States where, among other things, the NRC can inspect the vendor’s activities and records, are qualified to apply for an NRC license.
Regulatory controls regarding the possession, use and distribution of watches containing tritium are contained in the Code of Federal Regulations at 10 CFR 30.15(a)(1) and 32.14. These regulations can be accessed at the NRC website. For further information contact Suzan Flamm at the JVC, (212) 997-2002.
Diamond Meeting Is Critical Platform To Discuss Manufacturers’ Future
Tel Aviv, Israel—International Diamond Manufacturers’ Association president Maxim Shkadov and secretary general Ronnie VanderLinden opened the Presidents’ Meeting on Sunday with an alarm: “IDMA’s members are struggling for survival and the future of global diamond manufacturing is in the balance.”
"The manufacturers are those who carry the largest and most significant burden of the diamond pipeline, a burden that particularly during the past years has put diamond manufacturers in each and every country where diamonds are cut and polished at risk. No matter where diamonds are cut, we are experiencing unendurable pressure from all the market's segments and players," Shkadov said.
VanderLinden said the number of IDMA members is dwindling, citing the loss of Namibia and potentially Canada, as well as Sri Lanka.
At issue are rough diamond prices and pricing methods; the industry's financing structure; the lack of profit in the diamond manufacturing sector; the crisis in industry financing; and the need for well-coordinated generic diamond promotion efforts in the consumer market.
One of the first discussions, among a core group of presidents in the World Federation of Diamond Bourses (WFDB) was the generic promotion of diamonds in the global consumer market.
"The focus of this year's Presidents' Meeting is clear," Israel Diamond Exchange president Shmuel Schnitzer said in his opening address. "Our industry is facing a range of issues, the most important of which is the changing consumer preferences in the luxury product market.” He went on to identify other key issues, including profitability, financing, transparency, synthetics and treated stones.
The WFDB Trade Promotion Committee meeting heard a report of the progress made by the World Diamond Mark Foundation (WDMF). WDMF chairman Alex Popov offered an overview of the organization's successful promotional activities in niche markets such as the United Arab Emirates and Turkey and discussed plans for future projects that include consumer oriented diamond fashion shows and exhibitions in larger markets like the United States.
Also discussed were conditions and terms needed to unify the majority of players in the industry supply pipeline toward a well-supported diamond promotion program, and addressed the nascent Diamond Producers Association (DPA) and how it would cooperate with these efforts.
Following the three-day meeting, selected delegates traveled to Tel Aviv for a special reception at the residence of Israeli Prime Minister Benjamin Netanyahu.