The IDEX Online Polished Price Report for October 30

This week saw a larger degree of trading activity in round diamonds than in past weeks, with the majority of price changes being negative, according to the weekly IDEX Online Price Report.

Meanwhile, in fancy shape stones, there was an exceptionally low level of price changes and almost all of them were in a downward direction.

The following are some of the changes in this week's IDEX Online Diamond Price Report.

To receive a free copy of the full IDEX Online Diamond Price Report, please email us at prices@idexonline.com.

Rounds

  • 0.18-0.22 cts many changes in higher colors/clarities

  • 0.23-0.29 cts just two changes, both downwards

  • 0.30-0.39 cts E / VVS1 +3.6% to $2,700 p/c

  • 0.40-0.44 cts D / VS1-SI1 declining by 3%

  • 0.45-0.49 cts H / VS1-SI1 declining by 1-3%

  • 0.50-0.69 cts unchanged

  • 0.70-0.79 cts just one change, downwards

  • 0.80-0.89 cts mostly declining

  • 0.90-0.99 cts D / VVS1 -2.7% to $10,700 p/c

  • 1.00-1.24 cts many declines in lower colors/clarities

  • 1.25-1.49 cts several declines

  • 2 cts E / VVS1 -2.9% to $30,300 p/c

  • 3 cts a range of declines

  • 4 cts unchanged

  • 5 cts L / I2 -3.5% to $2,800 p/c

Fancy Cuts

 

  • 0.18-0.22 cts D / SI1 -4.4% to $1,100 p/c

  • 0.23-0.29 cts unchanged

  • 0.30-0.39 cts no changes

  • 0.40-0.44 cts H / VVS1 +2.5% to $2,050 p/c

  • 0.45-0.49 cts no changes

  • 0.50-0.69 cts K / I1 +5.3% to $1,000 p/c

  • 0.70-0.79 cts just one change, downwards

  • 0.80-0.89 cts H / VS1 -2.7% to $3,600 p/c

  • 0.90-0.99 cts one decliner

  • 1.00-1.24 cts just two decliners, in better colors/clarities

  • 1.50-1.99 cts H / IF -2.3% to $8,500 p/c

  • 2 cts L-N / SI2 rising by 3-4%

  • 3 cts unchanged

  • 4 cts just one decliner

  • 5 cts D-F/ VS2-SI1 decreasing by 3%

To receive a full free copy of the IDEX Online Diamond Price Report, please email prices@idexonline.com.

Albert Robinson is Editor-in-Chief of IDEX Online, heading an international team of writers that covers global industry related events and issues. He writes about rough and polished diamond prices, publishes industry analysis articles and a popular weekly opinion column. In recent years, Albert has advised a number of leading diamond firms, industry bodies and governmental agencies. He writes research papers on topics ranging from provenance analysis of fancy color diamonds to diamond's contribution to local economies, often contributing or writing the diamond chapters for leading research organizations such as KPMG and Bain & Co.

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Richline Exec Talks Trust at Portland Jewelry Symposium

Addressing a crowd of more than 120 at the opening night dinner of Portland Jewelry Symposium, October 5-6, Richline’s Chief Marketing Officer Mark Hanna focused on building trust in the jewelry industry.

“We are an industry where trust is paramount, with each other and the consumer,” said Hanna. “The future viability of the jewelry industry depends on our trustability.”

Hanna stressed the importance of jewelry businesses large and small to act responsibly and transparently when sourcing precious metals and gemstones, manufacturing, marketing, and selling jewelry to the end consumer. “Trust takes years to build, seconds to break, and forever to repair,” he quoted. 

In addition to describing the efforts of a number of industry groups and trade organizations to streamline the processes required to effect social responsibility in our industry, Hanna sounded off on the current “Made in the USA” federal laws, which make it virtually impossible for any jewelry makers in the U.S. to label their products “Made in America.”

Hanna was candid about his personal frustration with the issue, explaining that Richline, in cooperation with key industry leaders, would “continue to fight this particularly unfair law.”

Discussions of building trustability in the jewelry industry didn’t end at the event’s kickoff dinner. The following day, during the Symposium presentations, several speakers addressed related issues.

Stewart Grice of Hoover and Strong gave attendees suggestions for how to source supplies and work responsibly in his presentation, Social Responsibility

for the Small Shop.

“More consumers than ever are now interested in responsibly sourced jewelry and are demanding more transparency throughout the whole supply chain,” said Grice. “Whether you are a manufacturing jeweler or a designer, own multiple stores or a single shop, you have options to provide the consumer with what they want.” Grice outlined a number of eco-friendly approaches to common shop practices, as well as provided attendees with sources for responsibly sourced and recycled precious metals and gems.

Andy Holwell of Johnson Matthey NY, in his Precious Metals Market Outlook, touched on the reality of using recycled precious metals versus freshly mined metal.

"Sustainability is about recycling, but also a holistic view of where we source metal and how our operations are responsible towards the environment and our communities,” said Holwell.

“It's about transparency, compliance and certification, about engaging a partner whom you trust is ‘doing the right thing;’ being comfortable with the values of that partner.”

Attendees from Volund Jewelry in Vancouver, British Columbia, Canada, were impressed with the focus on social responsibility at the Symposium, writing on their blog: “From Mark Hanna’s opening keynote address to Stewart Grice’s talk on Social Responsibility for the Small Shop, most presenters offered ways to make better, more informed business decisions…. We were delighted to see this important subject brought up and highlighted multiple times during the symposium.” 

Rounding out the day were a series of inspiring presenters, including Claudia Kretchmer of Steven Kretchmer Designs, who shared a moving review of her late father’s innovations in the fields of alloy development and jewelry design; Tina Snyder of STACKED New York, who offered actionable advice and strategies for building a jewelry brand using traditional marketing and social media; and Ronda Coryell of Ronda Coryell Designs, who demonstrated granulation techniques and fusing gold to Argentium silver live at the bench. 

The Portland Jewelry Symposium, now in its seventh year, is sponsored by TechForm Advanced Casting Technology, MJSA, Rio Grande, Platinum Guild International, Johnson Matthey NY, GIA, Solidscape, The Richline Group, The Santa Fe Symposium, Jewelers of America, Superfit Inc., Cooksongold, Stuller, Gemvision, A3DM Technologies, John C. Nordt Co, Lashbrook Designs, Dawson Distributions, and United Precious Metal Refining. 

 

For a full list of presentation topics, visit portlandjewelrysymposium.com.

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Kingswood Company Is One of America’s Fastest-Growing

The Kingswood Company earned placement on the 2014 Inner City 100, based on the company’s accelerated growth over the past five years. The Inner City 100 honors the fastest-growing inner city businesses in the U.S.

The Inner City 100 program recognizes successful inner city businesses and their CEOs as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities. 

The Kingswood Company results indicate a five-year growth rate of 138.5 percent. The City of Columbus, Office of Mayor Coleman nominated The Kingswood Company for the Inner City 100. Kingswood was one of two Columbus businesses to make the list, out of 86 local nominees.

“We are very honored to have been chosen as one of the 2014 Inner City 100,” said Kristie Nicolosi, CEO and President of The Kingswood Company. “We remain committed to growth and expansion of our business in the heart of Columbus, Ohio, enjoying the benefits of operating in a vibrant urban center.”

“We are proud to have The Kingswood Company chosen as part of the Inner City 100,” said Mayor Michael B. Coleman. “Kingswood’s success demonstrates that companies are thriving and growing in our urban core.”

 

Headquartered in Columbus, OH since 1956, The Kingswood Company is the world’s leading manufacturer of private-label jewelry care products, serving thousands of retailers, designers and manufacturers worldwide.

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Susan Eisen Dubbed “Queen of Bling”

Susan Eisen Fine Jewelry Watches Art and Appraisals won the top honor for the tenth time in a row in El Paso’s What’s Up Magazine, Best of the Best annual competition.

The emcee at the event, local KVIA sportscaster Asher Wildman dubbed Susan Eisen the “Queen of Bling” at the awards ceremony held July 15. (To see ceremony click on, http://www.susaneisen.com/Queen-of-Bling.) 

Taking first place over 18 other nominees, including some local and chain stores that have been in business for decades, exemplifies the trust jewelry, watch, and art customers place in Susan Eisen Fine Jewelry and Watches. To win every year since 2005, the year the jewelry category was added, speaks of the reputation and credibility of the store since its inception in 1980.  

Since Susan Eisen, a university-trained jewelry artist and goldsmith, founded her first jewelry store in 1980 to showcase some of her own artistic and unique custom designed jewelry creations, along with an art gallery featuring El Paso artists.

She has focused on continually learning more about her field, and takes advanced coursework offered by the Gemological Institute of America, The American Society of Appraisers, and The International Society of Appraisers. Ranked in the top 16 of “America’s Best Jewelers” by National Jeweler Magazine, and named “Retailer of the Year” by the Women’s Jewelry Association, Eisen’s reputation continues to grow over the years and today has customers in many states besides Texas, and including Mexico, England, Thailand, Australia and Israel.

 

Eisen has written two books, “Crazy About Jewelry: The Expert Guide to Buying, Selling and Caring for Your Jewelry,” Full Circle International Publishing (www.crazyaboutjewelry.net/jewelry-services, $16.95), and in 2011 released her second book, “The Myth of the Million Dollar Dishrag: An Effective and Powerful Plan to Avoid a Family Inheritance Battle After You Die,” (www.inheritanceexpert.com $29.95).

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Jewelers' Daughter Weds in San Francisco

Stephanie Ueng, daughter of Jennifer and Charles Ueng, creators of the JYE Luxury Collection, was married on July 5, 2014 at the fine arts museum, the Palace of the Legion of Honor in San Francisco, CA.

Stephanie wore many of JYE Luxury Collection’s stunning, timeless pieces as her “something borrowed” on her wedding day. These include a fine strand of high luster pinkish overtone South Sea Pearl necklace size from 13-15 mm, and a pair of custom-made marquise shape diamond top 14mm pearl earring with 2.44 ct total diamond weight.

One 18K white gold diamond bracelet total weight of 5.07ct, a 4.26ct fancy yellow diamond ring, and a 9.01ct fine Ceylon sapphire vivid blue color with 3.66ct G/VS diamonds.

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