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Industry News: JBT Service For Retailers; JCK Fund Grants Announced; GIA Gem Photo Exhibit; More April 08, 2014 (0 comments)
The Jewelers Board of Trade Announces JBT RatingWatch For Retailers
Warwick, RI—The Jewelers Board of Trade (JBT) announces the launch of a new service to assist non-members in the jewelry industry to more easily monitor and manage their credit profiles with JBT.
While many retail firms have joined JBT to access the full array of member benefits, JBT RatingWatch was developed with the independent retail jeweler in mind. JBT actively tracks and communicates with more than 20,000 North American retail firms. Many, especially those who are conscientious about their credit data, along with JBT members providing products and services to these companies, have asked for a service that makes it easier to self-monitor credit ratings and communicate updated information to include in a company’s JBT credit file.
JBT RatingWatch is an economical annual subscription service that electronically provides a monthly credit report snapshot, including information and tools to contact JBT for further assistance.
“Without compromising the confidential nature of JBT members’ exchange of credit information, this service allows retailers to readily know their credit rating, their JBT ID, how many times their report is being ordered, and key business data on file with JBT,” said Dione Kenyon, JBT president. “JBT RatingWatch data helps subscribers better manage their business partner relationships, including those with vendors, service providers, and major trade shows that utilize JBT in their qualification process. Our hope is that better information leads to better business for all involved.”
Pricing for the service is $199 annually. Credit cards are accepted. JBT is also offering a first-year partner discount for verified members of certain trade associations, currently including the American Gem Society.
JCK Announces 2014 Industry Fund Recipients
Norwalk, CT—JCK announced the eight recipients of its 16th annual Industry Fund for 2014. The grants, awarded to individuals, groups or associations whose work results in the betterment of the overall jewelry industry, topped $290,000 this year.
The 2014 Industry Fund recipients are: American Gem Society (AGS), Diamond Development Initiative (DDI), Diamond Empowerment Fund (D.E.F.), Jewelers of America (JA), Jewelers Security Alliance (JSA), Jewelers Vigilance Committee (JVC), Manufacturing Jewelers and Suppliers of America (MJSA), and Women’s Jewelry Association (WJA).
“Upgrading and developing new technology that will enable effective, tangible changes in our industry was the central theme addressed by the majority of this year’s fund recipients,” said Yancy Weinrich, JCK group vice president. “From creating new online education and marketing platforms to enhancing information access and dissemination, the recipients are on the forefront of evolving how the jewelry industry communicates.”
The fund award grants annually to projects that do one or more of the following: improve the image of the jewelry industry in the eyes of the consumer; aid jewelry industry organizations in addressing serious problems faced within the industry; or assist internal organizations and associations in developing training materials.
For example, the grant will allow the American Gem Society to deliver a newly revised education program, “Conclave On Demand,” that makes video sessions of its Conclave speakers available free of charge to the industry. Similarly, the Women’s Jewelry Association used its grant to tape the sessions from its annual In The Know conference and put them online for those who were unable to attend in person.
Elaborating on the high-tech enhancements that will assist jewelers in avoiding crime and helping police identify and apprehend criminals that attack the diamond, jewelry and watch industry, JSA President, John Kennedy said, “JSA is excited that this year’s grant will allow us to enhance information dissemination by means of mobile devices, additional crime search features and emergency text messages.”
Through its “Diamonds Do Good” mission, the Diamond Empowerment Fund (D.E.F.) serves as an advocate for the good works of the industry. The JCK grant allows D.E.F. to connect this message directly with consumers, especially socially minded Millennials, via the development of an online platform.
Other Fund recipients, including Jewelers of America president and CEO David Bonaparte, Cecilia L. Gardner, president and CEO, Jewelers Vigilance Committee, David W. Cochran, MJSA president and CEO, and Dorothée Gizenga, executive director of the Diamond Development Initiative, were equally effusive in praising what the fund will allow their organizations to do.
Submissions of applications for the 2015 grants will begin in October. For more information on the JCK Industry Fund, click here.
Sales Strong and Big Diamonds in Demand At Baselworld 2014
Basel, Switzerland—Baselworld 2014 concluded last Thursday with a total of approximately 150,000 visitors, including representatives from exhibiting companies, buyers, journalists, and others. There were approximately 1,500 exhibitors from 40 countries, and the total visitor traffic came from every continent.
The Swiss watch industry, 95% of which shows at Baselworld, had exports of around 21.8 billion Swiss francs in 2013.
Jacques J. Duchêne, president of the Exhibitors' Committee, said, "We are extremely satisfied with this year's Baselworld. The exhibitors made a very good turnover and were positive about the media exposure that has aroused interest in the Baselworld 2014 event.”
Business was strong, with buyers seeking high-end pieces and big diamonds and, of course, watches. A report in Rapaport Trade Wire said demand was strong for top quality large diamonds, while Stephane Linder, CEO of watch brand Tag Heuer, said, "Sales were in line with our objectives, which were very ambitious. In terms of volume we have already exceeded our 2013 sales at Baselworld by more than 50%."
GIA Exhibit Features Iconic Van Pelt Gem Photographs
Carlsbad, CA—To celebrate 80 years of its award-winning Gems & Gemology scientific journal, GIA (Gemological Institute of America) offers “The Beauty of Science: Gems and Gemology Celebrates 80 Years, Featuring the Artistry of Harold & Erica Van Pelt,” a photography exhibit that opens May 19 and runs through Dec. 2014 at GIA world headquarters. The exhibit offers visitors a unique opportunity to see stunning pieces of historic and gemological significance, side by side with their iconic photos.
“The Van Pelts’ photos for G&G captured the synergy between the science and beauty of gems, and were truly instrumental in drawing readers into the journal. From 1981 to 2009, their work graced the covers of 93 issues, as well as many inside pages,” says Terri Ottaway, curator of the GIA Museum. “The beautiful gems and jewelry in this exhibit give context to the exquisite photos created by Harold and Erica Van Pelt.”
Top of page: The Maharaja of Indore necklace, photographed by Harold & Erica Van Pelt for Gems & Gemology’s summer 1981 edition, contains 15 fine Colombian emeralds recovered during the Spanish Conquest of the New World. The 374 diamonds were cut in India in the 17th century. The necklace was bequeathed to the Smithsonian by Cora Hubbard Williams. Image courtesy of the Smithsonian Institution National Gem Collection.
US & International Diamond Week Slogan: "Natural Is Real."
Ramat Gan, Israel—In the wake of repeated incidents of synthetic diamonds being sold as natural, The U.S. & International Diamond Week has adopted the slogan "Natural Is Real, as part of the Israel diamond industry’s efforts to brand itself as the world's prime center for trade in natural diamonds.
IDE president Shmuel Schnitzer said, "By adopting the slogan 'Natural Is Real,' we are sending a clear message to the market that Israel's diamond trade is all about natural diamonds."
The slogan " had its beginnings at the December 2013 edition of the U.S. and International Diamond Week in New York. In 2013, the IDE board voted to ban the trading of synthetic diamonds from the IDE trading floor. "The IDE trading floor is the most active and vibrant bourse floor in the world," Schnitzer said. "At any time of the day there are hundreds of members working there, and we felt synthetic diamonds have no business being on the IDE floor."
Schnitzer emphasized there is no prohibition on trading in synthetic diamonds anywhere else in the four buildings of the Israeli diamond exchange complex.
"We just do not want to see them on the trading floor. Therefore, the slogan 'Natural Is Real' - a nice word play on 'Natural' and 'Israel - is perfect," he said.
NAJA Offers “Meet The Authors” Book-Signing In Las Vegas
New York, NY—The National Association of Jewelry Appraisers will hold a book-signing session during JCK Las Vegas, for attendees to meet Geoffrey Dominy, FGA, and world renowned gem and jewelry photographer Tino Hammid, who collaborated on the Handbook of Gemmology, 2nd Edition. The authors will be at the NAJA exhibit booth, #L136, in the Lobby Level at the JCK Show, on Friday, Saturday, and Sunday, May 30 through June 1.
The Handbook of Gemmology is the first gemological book written specifically for the digital market. It can be downloaded onto a smart phone, iPad, e-reader, or computer. It is available for both Windows and Mac O/S, and incorporates state-of-the-art 'Flipping Book' technology for the look and feel of a printed book in a digital format.
The Handbook of Gemmology, 2nd Edition, comes with a completely new set of photographs by Tino Hammid (160 photographs in over 75 pages), new inclusion photographs, new sections on diamond classification, diamond and color gem grading, lab-created diamonds and magnetism, plus updated information from the previous edition. The DVD covers all aspects of the science of gemology and gem identification in this innovative and interactive e-book.