Articles and News
Industry News: JVC’s New Book; Preferred Jewelers Grows; Beware Phishing Scams; More November 12, 2014 (0 comments)
JVC Introduces New Handbook for Designers, Independent Jewelers, and Online Sellers
New York, NY—The Jewelers Vigilance Committee has released its latest publication, Guide to Selling Jewelry in the 21st Century: Legal Compliance for Designers, Independent Jewelers, and Online Sellers.
The handbook is intended for the independent jeweler, jewelry designer, and those who market their wares on websites such as Etsy, eBay, Amazon, Craig’s List, and other online marketplaces. Topics for the independent jeweler include protecting yourself as a jeweler—whether retail or wholesale—by understanding some basic legal principles such as the importance of contracts, receipts, and return policies; applying standards and regulations that apply to the advertising of jewelry (including the Federal Trade Commission’s Guides for the Jewelry, Precious Metal and Pewter Industries and in the National Gold and Silver Stamping Act); advertising online (including the Federal Trade Commission’s Dot.Com Guides); and implementing anti-money laundering laws.
Sponsored by the Future of Design Jewelry Education Fund created by Cindy Edelstein in The New York Community Trust, this book provides legal education to a large segment of JVC’s membership and those who create jewelry, whether new, vintage, used, recycled or up-cycled.
"Legal compliance supports the integrity of the jewelry industry and boosts consumer confidence in our products. This guide will help independent jewelers and online sellers understand and follow the laws and regulations that apply to the trade," said Cecilia Gardner, JVC's president and CEO.
The guide costs $20 for JVC members, and $25 for non-members. It is available for purchase here.
For more information, contact Sara Yood, assistant general counsel, at (212) 997-2002 or sara@jvclegal.org.
Preferred Jewelers Hits 99 Retail Members, 10,000+ Lifetime Warranties Issued To Date
Miami Beach, FL—Retail members of Preferred Jewelers International say sales are soaring with the Preferred Nationwide Lifetime Warranty. Tara Smith of Jim Kryshak Jewelers in Wausau, WI, said her store is up 20% in closing sales since offering the Preferred Warranty, which is included with the customer’s purchase.
“Customers feel a sense of trust and assurance because Preferred Jewelers are their hometown jeweler, a jeweler they trust.”
Launched less than a year ago, Preferred Jewelers International is a nationwide network of independently owned and operated premier jewelry stores. Since its inception it has grown to 99 retail members with 208 storefronts, who have issued more than 10,000 of its Lifetime Nationwide Warranties to date.
Preferred Jewelers International was founded by husband-and-wife team Andie Weinman and Joe Murphy, who also are the owners of Continental Buying Group, the largest independent jewelry chain organization in the country.
Weinman and Murphy both have more than 30 years’ experience in the jewelry industry, with extensive backgrounds in both manufacturing and retail. They believe in the independent, privately owned jewelry retailer as the backbone of the jewelry industry, and created Preferred Jewelers International to offer tools for independent jewelers to compete with Internet jewelers and national chains.
Preferred offers tools for independents to educate and maintain a superior level of service and quality for their associates and managers; and a team of web experts to drive their company’s success in search engine optimization and online business in general. The group’s slogan is “Experiences that Last a Lifetime.”
Education and networking with fellow members is an intricate component of Preferred Jewelers. The Annual Preferred Jewelers Institute empowers retailers to share ideas, discover new strategies for success and embrace the idea of revolutionizing revenue through technology.
Preferred Jewelers will offer a special live presentation at the Centurion Scottsdale 2015 show on Tuesday evening, February 3. Preferred is the dessert sponsor at the show’s opening dinner, which is sponsored by The Knot.
For further information, visit www.preferred-jewelers.com or call 1-888-998-8874.
Beware Of Utility Phishing Scams Targeting Independent Businesses
Santa Monica, CA—If you get a call from the power company claiming your bill is overdue and your lights are about to be shut off, don’t believe it. Utility scams targeted at small businesses are the latest trend in phishing, and at least one jeweler almost became a victim.
Phishing occurs when a phony email, web link, or telephone call claims you owe money or there’s a problem with your account. The emails, websites, and phone calls are carefully designed to appear legitimate, and many consumers have been duped into giving personal information such as their bank account numbers, credit card numbers, and Social Security numbers—which then translates into theft of both funds and identity.
Beware of scam artists seeking personal information or money by phone or email. Image: Rakerace.com
Now businesses are being targeted. According to this article in National Jeweler, thieves in Southern California have been posing as employees of the Southern California Edison power company and calling small businesses with the threat of shutoff if their “overdue” bill isn’t paid—by prepaid card—immediately.
Readers Fine Jewelers owners Evelyn and Eddie Guerboian of Santa Monica grew suspicious when a phony call threatened power shutoff if they didn’t pay $1,100 in supposed back bills immediately. Guerboian was certain she didn’t owe anything, let alone that much; she checked her records and confirmed the store was current on its bill. She reported it to the power company, who asked her to help make other jewelers aware of the potential for theft.
Scams like this are on the increase, says the NJ article. Jewelers who receive such a call are advised to pay attention to the number, note the time of the call and, especially, don’t give out any vital information to the caller.
Other tips to avoid being a victim of phishing:
- Never give any personal information to the caller, and don’t call back the number they provide. Instead, go to the company’s website through your own browser, or to a past bill and call the customer service number listed there.
- Likewise, don’t click on any links from an unsolicited email. Instead, go to the company’s website via your browser and log in as you normally would to see if there are any issues with your account.
- The Internal Revenue Service also has warned of an increase in both online and telephone phishing scams from thieves posing as IRS agents. According to its website, the IRS’s initial contact with you will always be by mail; any other kind of contact is a scam.
WDC Offers Support To African Diamond Producers in Dealing With Ebola
New York, NY—The World Diamond Council (WDC) has offered support to the African Diamond Producers Association (ADPA), to help deal with the impact of the Ebola crisis on the diamond mining sector in West Africa.
ADPA is a union of African diamond mining countries working as to advance the common interests of the continent's diamond producers. The organization has 11 permanent member countries, and another seven countries are observer members.
In a letter to Edgar Diogo de Carvalho, ADPA's Executive Secretary, World Diamond Council President Edward Asscher wrote, “The World Diamond Council would like to reach out to you and your member organizations, out of concern about the Ebola crisis in parts of Africa, and with the desire to provide you with practical support. We would like to offer you our technical assistance, expertise and resources to insure that this public health crisis has minimal impact on the diamond supply chain."
Delegations of the World Diamond Council and African Diamond Producers Association are both scheduled to attend the Kimberley Process Plenary Meeting this week in Guangzhou, China.
Meanwhile, a report from the Diamond Development Initiative, which represents artisanal diamond miners—predominantly in West Africa, the locus of the Ebola epidemic—brings encouraging news that measures being taken to stop the spread of the virus there are working. While the numbers of infections and deaths still are appalling, they’re far less than the World Health Organization had predicted, and the outbreak was already declared over in Senegal and Nigeria last month. Infection rates have stabilized in Guinea and even declined in Liberia, the worst hit so far.
In Sierra Leone, so long beleaguered by violence, rates are still rising, especially in capital Freetown. But in some districts, the worst seems to have passed, largely due to efforts by local chiefs working together to enforce laws to prevent the continued spread of the virus. Natives of countries like Sierra Leone tend to be mistrustful of central government, but are willing to follow dictates of the local chiefs, many of whom got together with health officials to develop, implement and enforce consistent containment strategies.
CIBJO Says Africa Must Leverage Natural Resources For Sustainable Development
Harare, Zimbabwe—Speaking at the opening day of the Zimbabew Diamond Conference, CIBJO president Gaetano Cavalieri addressed recognized the need of African diamond producing countries to leverage their natural resources into sustainable economic development for their countries' citizens.
"These are historic days for the diamond industry. Whereas once the compass always pointed north to London, today it points south. Quite possibly it always should have pointed in that southerly direction, but now there is no question," Cavalieri said.
It the business of diamonds that is able to translate demand for luxury products into economic opportunity in developing countries, he said.
"While jewelry is a non-essential item, in certain parts of the world the jewelry industry is an essential business sector, providing a livelihood and looking after the well-being of literally millions of ordinary people. Our obligation is to ensure that our activities provide them with sustainable economic opportunities that will help secure the future of generations to come," he stated.
The gemstone and jewelry industries have obligation to take care of all their dependents, reaching back to the very start of the chain of distribution, he said. "In the gemstone and mineral sectors, stakeholder sustainability means investing in the communities so that their natural resources will continue to pay dividends long after the resources themselves are depleted."
Rapaport Takes Over-Graders To Task
New York, NY—Industry gadfly Martin Rapaport, chairman of the Rapaport Group, has penned an editorial titled “Honest Grading,” that alleges more than 100,000 diamonds—valued at more than $1 billion—have been over-graded.
Rapaport on Monday emailed his article to more than 77,000 members of the diamond trade, calling it an unfair trade practice to grade diamonds using Gemological Institute of America (GIA) grading terminology while applying alternative standards that over-grade the diamonds. His article recognizes the GIA grading standard and urges suppliers to provide full refunds for diamonds that are re-graded by GIA at more than one color or clarity grade below the grade indicated when the stone was sold.
He called upon the trade to reject over-graded diamonds that fool consumers into believing they are getting better stones than they actually receive.
“The over-grading of diamonds is a legal and ethical issue challenging the legitimacy of the diamond and jewelry trade. Consumers must be warned not to trust misleading diamond grading reports and those that sell them. Suppliers must be held responsible for the quality of the diamonds they sell. The diamond trade must prioritize the protection of consumers above profits,” said Rapaport.
Click here to read his full article.
GIA Alumni Announce Tucson Party
Carlsbad, CA—The GIA (Gemological Institute of America) Alumni Association has announced its annual “Party At The GIA Gem Mine” reunion event will be held Friday, Feb. 6 in Tucson, AZ. This year’s theme is “Rocking Down Under.” Tickets are available here, $55 prior to January 15 and $65 after or at the door. Shuttle service from the Convention Center will be provided courtesy of AGTA.
The organization also is seeking donations for both the silent and live auctions to be held at the event. All auction proceeds benefit the GIA Alumni Endowment Fund. Jewelry, watches, experiences and more are welcome. Click here for a donor form or email alumni@gia.edu for more information.