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Industry News: Sponsors For JFC; JA Offers On-Site Certification Exam; Melee Prices Down; More April 15, 2015 (0 comments)
Sponsors Sign On For JFC’s Rings of Strength Tour
New York, NY—As of April 1, eight companies have signed on to sponsor Jewelers For Children’s annual Rings Of Strength tour, set for May 28 in Las Vegas. The event kicks off at 5:30 a.m. and features two bike routes (bikes are available for rent): a 50k ride through Red Rock Canyon, or a 15k route on surface streets in designated bike lanes. A 5k route for walkers and runners to take at their own pace is the third option.
Major event sponsor is JCK Events. Rio Tinto Diamonds, Blue Nile, Ashi Diamonds, Jewelry Creations, Brinks, and Coast Diamond have signed on to be exclusive sponsors for swag items and rest stops. Freeman will donate all staging materials.
Participants can visit www.ringsofstrength.org to sign up. During sign-up, each participant creates his or her own unique fundraising page and URL, which can be forwarded to friends to encourage them to sponsor your participation. Participants can sign up as individuals or build a team page with friends to create even more excitement. All funds raised will benefit the Jewelers for Children charity partners.
Jewelers of America Offers Onsite Certification Exams At Shows
New York, NY—Jewelers of America (JA) will be offering JA Sales and Management Professional Certification exams at four upcoming trade shows. These certifications, open to all jewelry professionals, can advance the careers of jewelry sales associates and managers, differentiate the retail store from competitors, and enhance fine jewelry customers’ trust in jewelry professionals. “In today’s competitive landscape, we are striving to make it easier for jewelers to get the valuable tools they need to gain consumer confidence and keep the jewelry industry vibrant and healthy,” says JA president and CEO David J. Bonaparte. “I strongly encourage retailers to get their staff certified. The benefits from Jewelers of America Professional Certification will far exceed the minimal amount of time and small monetary commitment put into the exam.” JA’s Professional Certification program establishes national standards with two-hour exams that evaluate the proficiency of jewelry professionals at two levels. No studying is required for the exams in both jewelry sales and management; the certification attests to the existing expertise of the professional. Exams offered at upcoming shows include:
- JA Certified Sales Professional (CSP) – First Level
- JA Certified Senior Sales Professional (CSSP) – Second Level
- JA Certified Management Professional (CMP) – First Level
- JA Certified Senior Management Professional (CSMP) – Second Level
Exam times and places:
- Smart Show Chicago, Navy Pier, Chicago, IL, on Friday, April 17; 10 A.M. – 12 P.M., and again from 2:30 - 4:30 P.M.
- Oklahoma Jewelers Convention, Embassy Suites Hotel, Oklahoma City, OK
- Sunday, April 19, 1:30 - 3:30 P.M.
- JCK Show, Mandalay Bay Hotel, Las Vegas, NV; Thursday, May 28; 10:00 A.M. - 12:00 P.M. and again from 2:00 - 4:00 P.M., and Friday, May 29; from 10:00 A.M. - 12:00 P.M.
- JA New York Summer Show; Jacob K. Javits Convention Center, New York, NY;
- Sunday, July 26; 10:00 A.M. - 12:00 P.M. and again from 2:00 - 4:00 P.M.
Exam fee is $35 for JA members and $55 for non-members. Register in advance to save $10 off the exam fee. Register here. Those not able to attend the on-site certification exams can take the exams at any time and at a location convenient to them by registering for a proctored exam. For more information on the Jewelers of America Professional Certification program, click here or call Jewelers of America, (800) 223-0673, ext. 8007.
Rapaport Melee Diamond Index Down 4% in Q1; Off 9.5% Year-On-Year
New York, NY—The Rapaport Melee Index (RMI) for small diamonds decreased by 4% during the first quarter of 2015. Year over year, the index is down 9.5% from March 2014.
Polished prices declined throughout the first quarter of 2015 as global retailers are avoiding unnecessary buildup of inventory and diamond trading remained slow in March. Diamond manufacturers significantly reduced their polished production in an effort to diminish their existing polished stock, as overall demand was weak and profit margins remained slim. Furthermore, liquidity continued to be tight due to the weak demand coupled with manufacturers’ lack of profitability, and the increased self-financing of rough purchases as banks restrict and reduce credit limits.
While the second quarter is a traditionally slow period, dealers are hoping that the market will stabilize as supply is reduced and shortages stimulate market demand in the coming months.
Rapaport's chart shows melee price levels since 2008. Source: Rapaport
“The diamond industry is continuing to face challenging times and serious liquidity constraints as dealers struggle to operate profitably in an extended weak market. Demand remained slow in Q1 with the recent Hong Kong and Basel shows failing to stimulate trading activity,” said Ezi Rapaport, the company’s director of global trading. “There is uncertainty as to how long current conditions will last, with hesitation as to whether the market has hit bottom or if it will continue to spiral downward. Manufacturers are deferring rough purchases and are cutting down on new production with hopes that limited new supply will help stabilize declining prices and reduce current inventory.”
55.52-ct. D-Flawless To Highlight Spring Auction
Geneva, Switzerland—Christie’s May 13 auction of Magnificent Jewels in Geneva will be led by the historically important Maria Christina Royal Devant-de-Corsage brooch, presented as a wedding gift from King Alfonso XII of Spain to his wife, the Archduchess Maria Christina of Austria in November 1879.
The auction will showcase over 351 spectacular jewels, among which is a pear-shaped D-flawless diamond of 55.52 carats with an estimate of US $8,500,000 – $10,500,000. Other lots include a rectangular-cut fancy vivid pink diamond of 5.18 carats (estimate: US $9,500,000 – $12,500,000) and an Ashoka-cut D-flawless diamond ring of 21.75 carats (estimate: US $2,800,000 – $3,500,000).
In color, the highlights include The Pride of Burma, a cushion-shaped Burmese ruby and diamond ring of 6.25 carats (estimate: US $1,800,000 – $2,500,000), Royal Emeralds of India, a pair of antique emerald Indian bangles (estimate: US $1,500,000 – $2,000,000), and a cushion-shaped Kashmir sapphire of 35.09 carats (estimate: US $3,000,000 – $4,200,000).
Separately, Christie’s announced the top lot from its April 14 auction in New York was a fancy intense purplish pink diamond, 5.29 cts., that fetched $5,765,000.
ICA Taps Dirk Blommaert as Member Services Manager
Hong Kong—The International Colored Gemstone Association (ICA) has appointed Dirk Blommaert as member services manager, on a consultant basis. Blommaert will be based in Belgium.
His role is designed to help better communicate the many services that the ICA offers to members and the wider colored gem community. He will provide ICA members with an effective channel to better utilize the many services and resources available to them, including:
- Pavilions at trade shows
- Industry liaison
- Creating networking opportunities
- Marketing and sales products
- ICA's International Congresses
- Organized tours to gem localities
- Advertising and marketing services
- Coordination of ICA Member Services