- Keep your cool, double-check every rumor your hear.
- Listen to all sides of all the hot arguments that will definitely come in 2007
- Never, ever panic.
- Don't give up hope.
- Brave yourself for a roller-coaster ride.
Sunday, December 31, 2006
Friday, December 29, 2006
Rumanite
Garry Platt writes:
Romania has several scattered sources of amber. Probably the most famous being that situated around the village of Colti in the Buzau district. Rumanite probably originated from a leguminous tree as the presence of succinite has been analysed to be generally less than 5%. This would therefore make the correct nomenclature of this deposit retinite and not amber. Particles of wood have been found within these amber deposits and have been identified as Sequoioxylon gypsaceum. The age of Rumanite from Colti has been established as Oligocene. Almashite and Muntentite are both names that have been used to describe amber originating from different geographic regions within Romania, Almashite from Piatra and Muntenite from the Oltenia region. Amber has also been recovered from the Cretaceous age at Sibiu in the Carpathians.
Rumanite has had a chequered history as regards its extraction. Known of and recorded by the Romans the mining probably reached its highest point in the 1900’s. The mining was nationalised in later years but never proved a commercial success and the mining was officially abandoned. Examples of this deposit are extremely difficult to come by today. Visitors to Colti may visit a recently opened museum of amber in the village.
More info @ http://www.gplatt.demon.co.uk/typesof.htm
Romania has several scattered sources of amber. Probably the most famous being that situated around the village of Colti in the Buzau district. Rumanite probably originated from a leguminous tree as the presence of succinite has been analysed to be generally less than 5%. This would therefore make the correct nomenclature of this deposit retinite and not amber. Particles of wood have been found within these amber deposits and have been identified as Sequoioxylon gypsaceum. The age of Rumanite from Colti has been established as Oligocene. Almashite and Muntentite are both names that have been used to describe amber originating from different geographic regions within Romania, Almashite from Piatra and Muntenite from the Oltenia region. Amber has also been recovered from the Cretaceous age at Sibiu in the Carpathians.
Rumanite has had a chequered history as regards its extraction. Known of and recorded by the Romans the mining probably reached its highest point in the 1900’s. The mining was nationalised in later years but never proved a commercial success and the mining was officially abandoned. Examples of this deposit are extremely difficult to come by today. Visitors to Colti may visit a recently opened museum of amber in the village.
More info @ http://www.gplatt.demon.co.uk/typesof.htm
Risks Of Financial Institutions
'The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can push credit too far, do a dumb acquisition, leverage yourself excessively -- it's not just derivatives (that can bring about your downfall).'
- Charles T Munger, Vice-Chairman of Berkshire Hathaway Corporation
- Charles T Munger, Vice-Chairman of Berkshire Hathaway Corporation
Werner Spaltenstein
Dark Continent
Gill Baker writes:
Madagascar is home to some of the world’s richest untapped seams of pink sapphires, and as regular multicolour.com visitors will know, pink sapphires are among the hottest colored gemstones to hit the market in recent years. Here at multicolour.com, one very extraordinary man is the linchpin in a fascinating story, which links you, our beautiful stones and the magical, mysterious Dark Continent of Africa.
Werner Spaltenstein is our very own Indiana Jones, with a passion and zest – some say an obsession – for gems, which makes him among the most successful buyers of colored stones in the world. As a young man growing up in Switzerland, Werner absorbed himself in travel and adventure books, and soon his urge to travel the world was hooked. Little did he know that the call of the wild would lead him into a lifelong adventure peppered with terrifying airplane crashes, muggings, endless treks to remote corners of Africa, and journeys spanning the globe in search of his precious quests.
“I'm one of the last adventurers. In the future they won’t exist like me anyone,” he chuckled, recounting the numerous close encounters with the bandits and other dangers that are an everyday hazard for gem buyers. “To survive a plane crash, that makes me a tough guy,” he added with a grin, adding that in his business the priority was staying alive, and he really did not think too far ahead.
While multicolour.com is at the forefront of the internet revolution, the stones on its website must still be tracked down, gleaned from the earth’s crust, and cut by skilled craftsmen in a traditional process which has changed little in centuries.
“You could never do what I am doing by computer,” remarked Werner. Finding, mining and buying gemstones may be an age-old business, but competition is cutthroat, and only the most determined, such as Werner, succeed. So what is the secret of Werner's success as a buyer?
“The different elements have to come together. It’s not only one person, it is a whole chain, and without that element it wouldn't work,” he explained, adding: “I'm only one link in the chain. Without the other partners it would not work.” Part of Werner’s skill is, knowing exactly what price to pay for any given stone – a talent honed from years of experience examining thousands upon thousands of gems. But Werner also has a little something extra which sets him apart from most of his rivals; he has a feel – some say a sixth sense – of the value of a stone.
“It’s easy to buy expensive and impossible to buy too cheap. You have to get to know exactly how much to pay,” he said with the sparkle of a man with a renowned eye for a bargain. His obsession with buying also gives him another edge over his competitors, who are compelled to delegate in order to cover all the myriad sources. Werner refuses to do that.
“It has to do with the confidence of the people who are selling me the stones,” he explained. The bright-eyed Swiss man spends much of his time in Madagascar – the huge island nation in the Indian Ocean off the east coast of Africa where he has built up the trust of local people who now rely on him to offer a tough, but fair price for their finds.
“I'm not trying to buy really very cheap because it is bad for my reputation. If I offer them a fair price, many people get more than they expect,” he said. A sense of value is clearly key to Werner’s work, but experience has also been vital to that, and as with many professions, “the secret is to work very hard,” he said.
Indeed, when he is in a mining area, he will work relentless from 7am to 9pm, quickly but methodically examining gemstone after gemstone presented to him by an eager queue of Africans, and then working late into the night to sort his day’s purchases.
“If someone wants to copy me, they can’t – it's never the same,” he said. His job is made harder by the need to keep track of the changes in market valuations of gemstones in markets, which can be quite volatile for some types of stones.
“It’s a continuous process and the market also changes. It’s a little bit like sport,” he quipped. But he added: “It’s a very brainy sport because every stone is different and every stone has a different price. It's got to fit the mesh, like a picture.”
Indeed sport is the key to what drives the intriguing Mr Spaltenstein – his surname means “stone splitter” in German. He is a man of simple tastes, with no desire for the trappings of wealth; neither is he searching for the biggest or brightest gems in the world.
“My objective is to be a good buyer. If I am very correct with my estimations there is a satisfaction,” he admits, adding that he may make one or two mistakes on price out of a hundred purchases, where others may fall down on ten percent of occasions. Whilst Madagascar is currently the focus of Werner’s work, he has also spent much time in Tanzania and Kenya, and regularly shuttles back and forth to the gem dealing and cutting centers of Thailand. He is under no illusions about the dangers of his work, however.
“I have a very interesting job. I hope I survive – I am doing a very dangerous job,” he admits, with a glint in his eye. Given the precarious value of Madagascar currency exchange rates, he must transport 40kg of local money across the country in order to buy 7kg of stones, and his ability to inject capital into the economy has helped give Werner a buying edge, and benefited ordinary Africans in a very direct way.
“Except for brokers and small merchants, no one has money. They are living from hand to mouth,” said Werner. He is at the coal–face of the gem business – a go-between bridging the African nations, which have little inherent use for gemstones, and the West, which prizes their precious jewels. Werne's happy position enables an African to buy land, or perhaps treasured oxen – a traditional symbol of wealth, while at the same time supplying Americans and Europeans with their own traditional symbols of riches, gems.
“It’s a real gold rush here,” he said. “I may have 100 or 200 people selling to me. It doesn't matter if they are rich or poor; anyone can show me their stones and gets a fair offer. If someone has the luck to find a good stone he should get a good price.” Buying is Werner’s life, and he admits he had no patience for selling.
“Selling is a very slow process,” he explains. He is no sentimental about his acquisitions, but he concedes he is attached to the knowledge of the market associated with them, hence the need to keep track of their resale in order to hone his valuations.
“It’s just got to do with whether I was right with my estimation. I try to be as good as possible, and that’s why I need that feedback on supply and demand,” he said. Being aware of subtle changes in the market is crucial to the business. The price of tanzanite, for example, went up and down every year for quite a whole. I miscalculated a little bit on the tanzanite. It was very expensive, the price came down, I bought it, we made very good business: then the production and demand fluctuated around US$250, and then went down to US$120. I was buying again and it went down to US$80 and it backfired. Now its’ US$300–US$400. That is the most unpredictable stone as the supply is so limited.”
And as Werner adds: “Everything depends on the supply, and I don't know what they are going to find in the future.”
More info @ www.multicolour.com
Gill Baker writes:
Madagascar is home to some of the world’s richest untapped seams of pink sapphires, and as regular multicolour.com visitors will know, pink sapphires are among the hottest colored gemstones to hit the market in recent years. Here at multicolour.com, one very extraordinary man is the linchpin in a fascinating story, which links you, our beautiful stones and the magical, mysterious Dark Continent of Africa.
Werner Spaltenstein is our very own Indiana Jones, with a passion and zest – some say an obsession – for gems, which makes him among the most successful buyers of colored stones in the world. As a young man growing up in Switzerland, Werner absorbed himself in travel and adventure books, and soon his urge to travel the world was hooked. Little did he know that the call of the wild would lead him into a lifelong adventure peppered with terrifying airplane crashes, muggings, endless treks to remote corners of Africa, and journeys spanning the globe in search of his precious quests.
“I'm one of the last adventurers. In the future they won’t exist like me anyone,” he chuckled, recounting the numerous close encounters with the bandits and other dangers that are an everyday hazard for gem buyers. “To survive a plane crash, that makes me a tough guy,” he added with a grin, adding that in his business the priority was staying alive, and he really did not think too far ahead.
While multicolour.com is at the forefront of the internet revolution, the stones on its website must still be tracked down, gleaned from the earth’s crust, and cut by skilled craftsmen in a traditional process which has changed little in centuries.
“You could never do what I am doing by computer,” remarked Werner. Finding, mining and buying gemstones may be an age-old business, but competition is cutthroat, and only the most determined, such as Werner, succeed. So what is the secret of Werner's success as a buyer?
“The different elements have to come together. It’s not only one person, it is a whole chain, and without that element it wouldn't work,” he explained, adding: “I'm only one link in the chain. Without the other partners it would not work.” Part of Werner’s skill is, knowing exactly what price to pay for any given stone – a talent honed from years of experience examining thousands upon thousands of gems. But Werner also has a little something extra which sets him apart from most of his rivals; he has a feel – some say a sixth sense – of the value of a stone.
“It’s easy to buy expensive and impossible to buy too cheap. You have to get to know exactly how much to pay,” he said with the sparkle of a man with a renowned eye for a bargain. His obsession with buying also gives him another edge over his competitors, who are compelled to delegate in order to cover all the myriad sources. Werner refuses to do that.
“It has to do with the confidence of the people who are selling me the stones,” he explained. The bright-eyed Swiss man spends much of his time in Madagascar – the huge island nation in the Indian Ocean off the east coast of Africa where he has built up the trust of local people who now rely on him to offer a tough, but fair price for their finds.
“I'm not trying to buy really very cheap because it is bad for my reputation. If I offer them a fair price, many people get more than they expect,” he said. A sense of value is clearly key to Werner’s work, but experience has also been vital to that, and as with many professions, “the secret is to work very hard,” he said.
Indeed, when he is in a mining area, he will work relentless from 7am to 9pm, quickly but methodically examining gemstone after gemstone presented to him by an eager queue of Africans, and then working late into the night to sort his day’s purchases.
“If someone wants to copy me, they can’t – it's never the same,” he said. His job is made harder by the need to keep track of the changes in market valuations of gemstones in markets, which can be quite volatile for some types of stones.
“It’s a continuous process and the market also changes. It’s a little bit like sport,” he quipped. But he added: “It’s a very brainy sport because every stone is different and every stone has a different price. It's got to fit the mesh, like a picture.”
Indeed sport is the key to what drives the intriguing Mr Spaltenstein – his surname means “stone splitter” in German. He is a man of simple tastes, with no desire for the trappings of wealth; neither is he searching for the biggest or brightest gems in the world.
“My objective is to be a good buyer. If I am very correct with my estimations there is a satisfaction,” he admits, adding that he may make one or two mistakes on price out of a hundred purchases, where others may fall down on ten percent of occasions. Whilst Madagascar is currently the focus of Werner’s work, he has also spent much time in Tanzania and Kenya, and regularly shuttles back and forth to the gem dealing and cutting centers of Thailand. He is under no illusions about the dangers of his work, however.
“I have a very interesting job. I hope I survive – I am doing a very dangerous job,” he admits, with a glint in his eye. Given the precarious value of Madagascar currency exchange rates, he must transport 40kg of local money across the country in order to buy 7kg of stones, and his ability to inject capital into the economy has helped give Werner a buying edge, and benefited ordinary Africans in a very direct way.
“Except for brokers and small merchants, no one has money. They are living from hand to mouth,” said Werner. He is at the coal–face of the gem business – a go-between bridging the African nations, which have little inherent use for gemstones, and the West, which prizes their precious jewels. Werne's happy position enables an African to buy land, or perhaps treasured oxen – a traditional symbol of wealth, while at the same time supplying Americans and Europeans with their own traditional symbols of riches, gems.
“It’s a real gold rush here,” he said. “I may have 100 or 200 people selling to me. It doesn't matter if they are rich or poor; anyone can show me their stones and gets a fair offer. If someone has the luck to find a good stone he should get a good price.” Buying is Werner’s life, and he admits he had no patience for selling.
“Selling is a very slow process,” he explains. He is no sentimental about his acquisitions, but he concedes he is attached to the knowledge of the market associated with them, hence the need to keep track of their resale in order to hone his valuations.
“It’s just got to do with whether I was right with my estimation. I try to be as good as possible, and that’s why I need that feedback on supply and demand,” he said. Being aware of subtle changes in the market is crucial to the business. The price of tanzanite, for example, went up and down every year for quite a whole. I miscalculated a little bit on the tanzanite. It was very expensive, the price came down, I bought it, we made very good business: then the production and demand fluctuated around US$250, and then went down to US$120. I was buying again and it went down to US$80 and it backfired. Now its’ US$300–US$400. That is the most unpredictable stone as the supply is so limited.”
And as Werner adds: “Everything depends on the supply, and I don't know what they are going to find in the future.”
More info @ www.multicolour.com
Thursday, December 28, 2006
Circle Of Competence
Charles T Munger, Vice-Chairman of Berkshire Hathaway Corporation writes:
'There are a lot of things we pass on. We have three baskets: in, out, and too tough...We have to have a special insight, or we'll put it in the 'too tough' basket. All of you have to look for a special area of competency and focus on that.'
'There are a lot of things we pass on. We have three baskets: in, out, and too tough...We have to have a special insight, or we'll put it in the 'too tough' basket. All of you have to look for a special area of competency and focus on that.'
Art Jewelry
Collector Cafe writes:
Term for jewelry developed from the 1890s onwards which differed from traditional jewellery in that it was wholly or partly composed of base metals and non-precious stones as well as other materials which had not hitherto been regarded as suitable for personal adornment. Originally it was known as art jewelry (on the same analogy as art glass, art pottery and art silks), alluding to the fact that it was initiated and developed by artist-craftsmen working within the Arts and Crafts Movement in the style of Art Nouveau. Because they worked in much less valuable materials than the traditional jewelers, their products have tended to survive intact in larger quantities, since platinum, gold and diamond tiaras, corsages, bows, pendants and other larger pieces were often broken up when they ceased to be fashionable.
At first, the Arts and Crafts jewelers used semi-precious stones, often uncut, in settings of silver or even copper. Whereas the work of the commercial jewelers was becoming lighter and more delicate, that of the 'artistic' jewelers gradually became more and more massive and chunky. In the former, the setting was designed to be as unobtrusive as possible; in the latter the setting was just as important as the stones, if not more so, and great care was taken in the elaborate ornamentation of the settings.
Silver was cast, wrought, carved, engraved, chased, inlaid or beaten in repousse or martele techniques. In the repousse technique the metal was hammered out from behind to produce raised relief, whereas in the martele technique hollow ware was hammered by hand to produce a soft, fluid look which lent itself admirably to Art Nouveau motifs. The jewelry of such artist-craftsmen as Omar Ramsden, Henry Wilson, Phoebe Traquair and Harold Stabler is self-conscious, often technically poor though highly imaginative. Unfortunately this type of jewelry fell between two stools. It was not glamorous enough for the wealthy, who preferred impeccably cut diamonds in invisible settings, and too expensive for the mass market. As a result, very little of this up-market art jewelry has survived in any appreciable quantity and those pieces which pass through the saleroom tend to fetch correspondingly high prices.
More info @ www.collectorcafe.com
Term for jewelry developed from the 1890s onwards which differed from traditional jewellery in that it was wholly or partly composed of base metals and non-precious stones as well as other materials which had not hitherto been regarded as suitable for personal adornment. Originally it was known as art jewelry (on the same analogy as art glass, art pottery and art silks), alluding to the fact that it was initiated and developed by artist-craftsmen working within the Arts and Crafts Movement in the style of Art Nouveau. Because they worked in much less valuable materials than the traditional jewelers, their products have tended to survive intact in larger quantities, since platinum, gold and diamond tiaras, corsages, bows, pendants and other larger pieces were often broken up when they ceased to be fashionable.
At first, the Arts and Crafts jewelers used semi-precious stones, often uncut, in settings of silver or even copper. Whereas the work of the commercial jewelers was becoming lighter and more delicate, that of the 'artistic' jewelers gradually became more and more massive and chunky. In the former, the setting was designed to be as unobtrusive as possible; in the latter the setting was just as important as the stones, if not more so, and great care was taken in the elaborate ornamentation of the settings.
Silver was cast, wrought, carved, engraved, chased, inlaid or beaten in repousse or martele techniques. In the repousse technique the metal was hammered out from behind to produce raised relief, whereas in the martele technique hollow ware was hammered by hand to produce a soft, fluid look which lent itself admirably to Art Nouveau motifs. The jewelry of such artist-craftsmen as Omar Ramsden, Henry Wilson, Phoebe Traquair and Harold Stabler is self-conscious, often technically poor though highly imaginative. Unfortunately this type of jewelry fell between two stools. It was not glamorous enough for the wealthy, who preferred impeccably cut diamonds in invisible settings, and too expensive for the mass market. As a result, very little of this up-market art jewelry has survived in any appreciable quantity and those pieces which pass through the saleroom tend to fetch correspondingly high prices.
More info @ www.collectorcafe.com
Steller's Sea Cow Bone
(via) Gemmology Queensland writes:
A rare ivory look-alike
Steller's sea cow (hydrodamalis gigas) is an extinct ancestor of the dugong that did not survive the 18th century. The first Steller's sea cows were discovered by Danish Captain Vitus Bering who was commisioned by Tsar Peter I (Peter the Great) to determine whether or not Asia and the Americas were one or two separate continents. One a second expedition in 1741, to map the area between Asia and North America, Bering was accompanied by a German doctor-naturalist named Georg Wilhem Steller. During this expedition, the ship ran aground and before his colleagues escaped, by building a new boat out of the timbers of the wrecked vessel. Steller, who died on what is now known as Bering Island, catalogued numerous species of plants and animals, some of which are named after him.
One such marine animal was a large sea cow that is now known as Steller's sea cow. This herbiverous marine mammal was twice the size of the presently living dugong. It had a length of 8.5m, a girth of 6.7m, and weighed up to 3628kg (8000 pounds0. It had no teeth, but its bones were massive. At the time of their discovery it is likely that from 1500-2000 Steller's sea cow were in existence. Due to the delicacy of their meat, by 1768 the last sea cow had been killed, with Stellar dying only four years after the expedition, never knowing of the extinction of the animal that bore his name.
Since the 1800s, there have been reported sightings of small colonies of Steller's sea cows in remote areas away from Russian fishing grounds and boat traffic. The few intact skeletons of Steller's sea cow that still exist can be found in a few museums that are scattered around the world. Today, the skeletal remains of this now extinct sea cow are recovered by indegenous natives from both sides of the Bering Strait, and these bones are either being sold as rough or are carved into some attractive ivory-like objects, such as knife handles--usually after they have been impregnated with a colorless synthetic polymer. The raw material, which seems to be predominantly derived from the large ribs of this now extinct animal, has a grayish to brownish color, is relatively porous, and has a core of or porous cacellous bone and an outer layer of thick cortical bone. This is rare, but very interesting material that could be misidentified as ivory.
A rare ivory look-alike
Steller's sea cow (hydrodamalis gigas) is an extinct ancestor of the dugong that did not survive the 18th century. The first Steller's sea cows were discovered by Danish Captain Vitus Bering who was commisioned by Tsar Peter I (Peter the Great) to determine whether or not Asia and the Americas were one or two separate continents. One a second expedition in 1741, to map the area between Asia and North America, Bering was accompanied by a German doctor-naturalist named Georg Wilhem Steller. During this expedition, the ship ran aground and before his colleagues escaped, by building a new boat out of the timbers of the wrecked vessel. Steller, who died on what is now known as Bering Island, catalogued numerous species of plants and animals, some of which are named after him.
One such marine animal was a large sea cow that is now known as Steller's sea cow. This herbiverous marine mammal was twice the size of the presently living dugong. It had a length of 8.5m, a girth of 6.7m, and weighed up to 3628kg (8000 pounds0. It had no teeth, but its bones were massive. At the time of their discovery it is likely that from 1500-2000 Steller's sea cow were in existence. Due to the delicacy of their meat, by 1768 the last sea cow had been killed, with Stellar dying only four years after the expedition, never knowing of the extinction of the animal that bore his name.
Since the 1800s, there have been reported sightings of small colonies of Steller's sea cows in remote areas away from Russian fishing grounds and boat traffic. The few intact skeletons of Steller's sea cow that still exist can be found in a few museums that are scattered around the world. Today, the skeletal remains of this now extinct sea cow are recovered by indegenous natives from both sides of the Bering Strait, and these bones are either being sold as rough or are carved into some attractive ivory-like objects, such as knife handles--usually after they have been impregnated with a colorless synthetic polymer. The raw material, which seems to be predominantly derived from the large ribs of this now extinct animal, has a grayish to brownish color, is relatively porous, and has a core of or porous cacellous bone and an outer layer of thick cortical bone. This is rare, but very interesting material that could be misidentified as ivory.
How To Become Rich
Warren Buffett lecturing to a group of students at Columbia University:
'I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.'
'I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.'
Ancient Forests
By F.J.Daniels & R.D. Dayvault
Western Colorado Publishing Company
2024 Freedom Court, Grand Junction
Co 81503-9522
U.S.A
970.242.5255
Price: US$89.95 + US$16.75 for shipping
publisher@westerncoloradopublishing.com
Book Review by Arthur Main, Canberra, Australia
The book illustrates American specimens with some 80 pages devoted to choice pieces from American University museums. Nevertheless a range of countries are included with Argentina, Zimbabwe, Indonesia and Australia well represented.
In the introduction to this book the authors state that the emphasis is on beauty and as such many bland specimens were dismissed though they would be of great interest to palaeobotanists.
“Collectors quickly learn that petrified wood usually comes in two general forms. Either it looks like wood on the outside and shows detailed preservation of cellular structure on the inside, or it looks like wood on the outside but exhibits various textures on the inside, none of which resemble wood.”
From the last statement the authors deal with the complex chemical processes involved in the formation of opal and agate. Indeed, many photos were those of agate; but they had a wood-like skin. The many microphotographs show the cell structures of a wide range of trees, both hardwood and softwood, most of which are still living. So how did some trees become petrified?
Like all natural gems there are an awful lot of ‘ifs’. The range of minerals associated with petrification is also astonishing. Over 40 minerals have been identified. Apart from hydrous silica (opaline) and microcrystalline quartz (chalcedony), iron may be present as oxides, hydroxides and sulphides; likewise for copper. The range of actual elements also includes uranium.
This is a highly specialized book dealing in great depth with an often ignored gem material. It brings together components of botany, palaeobotany, geology and mineralogy. But above all: “Beauty is more wonderful when rare and especially so in the presence of perfection.”
Western Colorado Publishing Company
2024 Freedom Court, Grand Junction
Co 81503-9522
U.S.A
970.242.5255
Price: US$89.95 + US$16.75 for shipping
publisher@westerncoloradopublishing.com
Book Review by Arthur Main, Canberra, Australia
The book illustrates American specimens with some 80 pages devoted to choice pieces from American University museums. Nevertheless a range of countries are included with Argentina, Zimbabwe, Indonesia and Australia well represented.
In the introduction to this book the authors state that the emphasis is on beauty and as such many bland specimens were dismissed though they would be of great interest to palaeobotanists.
“Collectors quickly learn that petrified wood usually comes in two general forms. Either it looks like wood on the outside and shows detailed preservation of cellular structure on the inside, or it looks like wood on the outside but exhibits various textures on the inside, none of which resemble wood.”
From the last statement the authors deal with the complex chemical processes involved in the formation of opal and agate. Indeed, many photos were those of agate; but they had a wood-like skin. The many microphotographs show the cell structures of a wide range of trees, both hardwood and softwood, most of which are still living. So how did some trees become petrified?
Like all natural gems there are an awful lot of ‘ifs’. The range of minerals associated with petrification is also astonishing. Over 40 minerals have been identified. Apart from hydrous silica (opaline) and microcrystalline quartz (chalcedony), iron may be present as oxides, hydroxides and sulphides; likewise for copper. The range of actual elements also includes uranium.
This is a highly specialized book dealing in great depth with an often ignored gem material. It brings together components of botany, palaeobotany, geology and mineralogy. But above all: “Beauty is more wonderful when rare and especially so in the presence of perfection.”
Tut’s Gem Hints At Space Impact
BBC writes:
In 1996 in the Egyptian Museum in Cairo, Italian mineralogist Vincenzo de Michele spotted an unusual yellow green gem in the middle of one of Tutankhamen’s necklaces. The jewel was tested and found to be glass, but intriguingly it is older than the earliest Egyptian civilization. Working with Egyptian geologist Aly Barakat, they traced its origin to unexplained chunks of glass scattered in the sand in a remote region of the Sahara Desert. Gemologically, this glass is termed crater glass.
But the glass is itself a scientific enigma. How did it get to be there and who or what made it? An Austrian astochemist Christian Koeberl had established that the glass had been formed at a temperature so hot that there could be only one known cause: a meteorite impacting with earth. And yet there were no signs of an impact crater, even in satellite images. A natural airburst of that magnitude was unheard of until, in 1994, scientists watched as comet Shoemaker-Levy collided with Jupiter. It exploded in the Jovian atmosphere, and the Hubble telescope recorded the largest incandescent fireball ever witnessed rising over Jupiter’s horizon. Mark Boslough, who specializes in modeling large impacts n supercomputers, created a simulation of a similar impact on earth. The simulation revealed that an impactor could indeed generate a blistering atmospheric fireball, creating surface temperatures of 1800ºC, and leaving behind a field of glass. “What I want to emphasize is that it is hugely bigger in energy than the atomic tests,” says Boslough. “Ten thousand times more powerful.”
So that is what possibly created the yellow crater glass in King Tut’s pectoral.
More info @ http://news.bbc.co.uk/1/hi/sci/tech/5196362.stm
In 1996 in the Egyptian Museum in Cairo, Italian mineralogist Vincenzo de Michele spotted an unusual yellow green gem in the middle of one of Tutankhamen’s necklaces. The jewel was tested and found to be glass, but intriguingly it is older than the earliest Egyptian civilization. Working with Egyptian geologist Aly Barakat, they traced its origin to unexplained chunks of glass scattered in the sand in a remote region of the Sahara Desert. Gemologically, this glass is termed crater glass.
But the glass is itself a scientific enigma. How did it get to be there and who or what made it? An Austrian astochemist Christian Koeberl had established that the glass had been formed at a temperature so hot that there could be only one known cause: a meteorite impacting with earth. And yet there were no signs of an impact crater, even in satellite images. A natural airburst of that magnitude was unheard of until, in 1994, scientists watched as comet Shoemaker-Levy collided with Jupiter. It exploded in the Jovian atmosphere, and the Hubble telescope recorded the largest incandescent fireball ever witnessed rising over Jupiter’s horizon. Mark Boslough, who specializes in modeling large impacts n supercomputers, created a simulation of a similar impact on earth. The simulation revealed that an impactor could indeed generate a blistering atmospheric fireball, creating surface temperatures of 1800ºC, and leaving behind a field of glass. “What I want to emphasize is that it is hugely bigger in energy than the atomic tests,” says Boslough. “Ten thousand times more powerful.”
So that is what possibly created the yellow crater glass in King Tut’s pectoral.
More info @ http://news.bbc.co.uk/1/hi/sci/tech/5196362.stm
Wednesday, December 27, 2006
Kimberley Process
What is Kimberley Process?
The Kimberley Process is a joint government, international diamond industry and civil society initiative to stem the flow of conflict diamonds - rough diamonds that are used by rebel movements to finance wars against legitimate governments. The trade in these illicit stones contributed to devastating conflicts in countries such as Angola, Cote d'Ivoire, the Democratic Republic of Congo and Sierra Leone. The Kimberley Process Certification Scheme is an innovative, voluntary system that imposes extensive requirements on Participants to certify that shipments of rough diamonds are free from conflict diamonds. The Kimberley Process is composed of 45 Participants, including the European Community. Kimberley Process Participants account for approximately 99.8% of the global production of rough diamonds. The international community, including the UN General Assembly and Security Council, and the World Trade Organisation,have all recognized the importance and effectiveness of the KPCS.
States and regional economic integration organizations who have met the minimum requirements of the Kimberley Process Certification Scheme are:
Angola
Armenia
Australia
Bangladesh
Belarus
Botswana
Brazil
Bulgaria
Canada
Central African Republic
China, People's Republic of
Congo, Democratic Republic of
Cote D' Ivoire
Croatia
European Community
Ghana
Guinea
Guyana
India
Indonesia
Israel
Japan
Korea, Republic of
Lao, Democratic Republic of
Lebanon
Lesotho
Malaysia
Mauritius
Namibia
New Zealand
Norway
Romania
Russian Federation
Sierra Leone
Singapore
South Africa
Sri Lanka
Switzerland
Tanzania
Thailand
Togo
Ukraine
United Arab Emirates
United States of America
Venezuela
Vietnam
Zimbabwe
More info @ www.kimberleyprocess.com
The Kimberley Process is a joint government, international diamond industry and civil society initiative to stem the flow of conflict diamonds - rough diamonds that are used by rebel movements to finance wars against legitimate governments. The trade in these illicit stones contributed to devastating conflicts in countries such as Angola, Cote d'Ivoire, the Democratic Republic of Congo and Sierra Leone. The Kimberley Process Certification Scheme is an innovative, voluntary system that imposes extensive requirements on Participants to certify that shipments of rough diamonds are free from conflict diamonds. The Kimberley Process is composed of 45 Participants, including the European Community. Kimberley Process Participants account for approximately 99.8% of the global production of rough diamonds. The international community, including the UN General Assembly and Security Council, and the World Trade Organisation,have all recognized the importance and effectiveness of the KPCS.
States and regional economic integration organizations who have met the minimum requirements of the Kimberley Process Certification Scheme are:
Angola
Armenia
Australia
Bangladesh
Belarus
Botswana
Brazil
Bulgaria
Canada
Central African Republic
China, People's Republic of
Congo, Democratic Republic of
Cote D' Ivoire
Croatia
European Community
Ghana
Guinea
Guyana
India
Indonesia
Israel
Japan
Korea, Republic of
Lao, Democratic Republic of
Lebanon
Lesotho
Malaysia
Mauritius
Namibia
New Zealand
Norway
Romania
Russian Federation
Sierra Leone
Singapore
South Africa
Sri Lanka
Switzerland
Tanzania
Thailand
Togo
Ukraine
United Arab Emirates
United States of America
Venezuela
Vietnam
Zimbabwe
More info @ www.kimberleyprocess.com
Thought Of The Day
"The idea of caring that someone is making money faster [than you are] is one of the deadly sins. Envy is a really stupid sin because it's the only one you could never possibly have any fun at. There's a lot of pain and no fun. Why would you want to get on that trolley?"
- Charles T Munger
Vice-Chairman of Berkshire Hathaway Corporation
- Charles T Munger
Vice-Chairman of Berkshire Hathaway Corporation
Color Story: Trend 2007
(via Leatrice Eiseman) Amber Michelle writes:
A different color story has emerged for 2007, says Eiseman. Gray, especially those shades with a lavender cast--will continue into spring. "Gray is wearable and practical and when women invest in a wardrobe, they want to have it for several reasons," she says.
Silver Peony, described by Eiseman as a soft rosy, peach tone, will be a new neutral to mix with other colors. Strawberry Ice, a warm pink with a mid value tone, will also be important because it is flattering to all skin types. There will also a continuation of brown, forecasts Eiseman. "It will be a Cafe Creme, like you have taken coffee and added cream." She believes that the popularity fo brown diamonds in the past few years has helped to glamorize the color and make it a more popular choice in apparel.
Tarragon, a green that is close to a khaki tone--and that can be used as neutral--will also be important. "It has a classic quality to it," Eiseman says.
Green Sheen, which is a yellow green, is another color of the moment. "It is the newest of the trend colors for fashion," explains Eiseman. "It adds a fresh approach to a wardrobe."
As we move further into 2007, Eiseman predicts that we will see a move away from blue-based meditative, mystical and spiritual purples into red purples that are more sensual and fun. Metallics will also stick around. Eiseman believes that this is a long term color look, as textiles get sparkle adn sheen from new technologies. "Metallics add excitement," says Eiseman. "They are a dichtonomy. Gold and silver have a glamorous aspect, but they are neutral." Black, of course, will always have its place in fashion, says Eiseman. "Women understand black, its dependability and elegance. But it will have a variation in tone or fabric texture."
More info @ www.rapaport.com
Leatrice Eiseman
Trend Forecaster
Director of Pantone Color Institute
Author of More Alive With Color
A different color story has emerged for 2007, says Eiseman. Gray, especially those shades with a lavender cast--will continue into spring. "Gray is wearable and practical and when women invest in a wardrobe, they want to have it for several reasons," she says.
Silver Peony, described by Eiseman as a soft rosy, peach tone, will be a new neutral to mix with other colors. Strawberry Ice, a warm pink with a mid value tone, will also be important because it is flattering to all skin types. There will also a continuation of brown, forecasts Eiseman. "It will be a Cafe Creme, like you have taken coffee and added cream." She believes that the popularity fo brown diamonds in the past few years has helped to glamorize the color and make it a more popular choice in apparel.
Tarragon, a green that is close to a khaki tone--and that can be used as neutral--will also be important. "It has a classic quality to it," Eiseman says.
Green Sheen, which is a yellow green, is another color of the moment. "It is the newest of the trend colors for fashion," explains Eiseman. "It adds a fresh approach to a wardrobe."
As we move further into 2007, Eiseman predicts that we will see a move away from blue-based meditative, mystical and spiritual purples into red purples that are more sensual and fun. Metallics will also stick around. Eiseman believes that this is a long term color look, as textiles get sparkle adn sheen from new technologies. "Metallics add excitement," says Eiseman. "They are a dichtonomy. Gold and silver have a glamorous aspect, but they are neutral." Black, of course, will always have its place in fashion, says Eiseman. "Women understand black, its dependability and elegance. But it will have a variation in tone or fabric texture."
More info @ www.rapaport.com
Leatrice Eiseman
Trend Forecaster
Director of Pantone Color Institute
Author of More Alive With Color
Monday, December 25, 2006
Lev Leviev
(via Wiki) Lev Avnerovich Leviev (born July 30, 1956 in Tashkent) is an Israeli billionaire businessman with wide-ranging interests, including the diamond trade, real estate and chemicals. He is also a supporter of Jewish philanthropic causes and is president of the Federation of Jewish Communities of the CIS (FJC), an umbrella body representing Jewish communities across the former Soviet Union. He is the founder of the Ohr Avner Foundation, named for his father.
He lives in Bnei Brak, Israel, with his wife Olga and their nine children. He owns the Israeli TV Russian channel Israel Plus and Africa-Israel Investments, an international holding and investment company involved in residential real estate, shopping malls, energy, fashion, telecom, and media. Furthermore, Leviev, controls diamond mines in Russia and Africa and has emerged as a major competitor to De Beers.
Leviev was born in the then-Soviet city of Tashkent, Uzbekistan in 1956. His father, Rabbi Avner, and his mother, Chana Leviev, were prominent members of the Bukharan Jewish community. In 1971, when he was fifteen, his family emigrated to Israel. Shortly afterwards, Leviev began to work as an apprentice in a diamond polishing plant, and following his military service, established his own diamond polishing plant.
With the fall of Communism in the early 1990s, Leviev expanded his business endeavors into Eastern Europe and the former Soviet Union. He received the blessings for success in business and personal support of the Lubavitcher Rebbe, Rabbi Menachem Schneerson for his philanthropic activities.
He is currently Chairman of the Board of Directors of Africa-Israel Investments Limited, an investment company active in Israel and the Yesha territories. Known to be a champion of right-wing Jewish politics, in 2005, Leviev's company completed a controversial $230 million 5,800 apartment project in Modi'in Illit, for the Haredi sector.
Leviev is also the owner of the new high-end luxury diamond retailer bearing his name.
More info @ www.wikipedia.org
He lives in Bnei Brak, Israel, with his wife Olga and their nine children. He owns the Israeli TV Russian channel Israel Plus and Africa-Israel Investments, an international holding and investment company involved in residential real estate, shopping malls, energy, fashion, telecom, and media. Furthermore, Leviev, controls diamond mines in Russia and Africa and has emerged as a major competitor to De Beers.
Leviev was born in the then-Soviet city of Tashkent, Uzbekistan in 1956. His father, Rabbi Avner, and his mother, Chana Leviev, were prominent members of the Bukharan Jewish community. In 1971, when he was fifteen, his family emigrated to Israel. Shortly afterwards, Leviev began to work as an apprentice in a diamond polishing plant, and following his military service, established his own diamond polishing plant.
With the fall of Communism in the early 1990s, Leviev expanded his business endeavors into Eastern Europe and the former Soviet Union. He received the blessings for success in business and personal support of the Lubavitcher Rebbe, Rabbi Menachem Schneerson for his philanthropic activities.
He is currently Chairman of the Board of Directors of Africa-Israel Investments Limited, an investment company active in Israel and the Yesha territories. Known to be a champion of right-wing Jewish politics, in 2005, Leviev's company completed a controversial $230 million 5,800 apartment project in Modi'in Illit, for the Haredi sector.
Leviev is also the owner of the new high-end luxury diamond retailer bearing his name.
More info @ www.wikipedia.org
Dilip Mehta
Dilip Mehta joined the family business in 1970 and established Rosy Blue N.V. in 1973, in Antwerp, Belgium as the first overseas office of B. Arunkumar (now Rosy Blue India). His efforts led to global expansion through Greenfield growth and acquisitions, resulting in sales, manufacturing and financing offices in 15 countries spanning 4 continents. He also delivered unprecedented results by growing the group turnover and created a new industry benchmark, confirmed Rosy Blue's leadership position in financial transparency, robustness and innovation through the securitisation of inventory and receivables.
He transformed a manufacturer / trader office to a global marketer of a broad range of products and services, demonstrating the group's leadership in value-added, vertically integrated supply partner. You can say that 35 years of strong domestic and international P&L management experience driving market share, revenue and profit growth, made him a high-integrity, energetic entrepreneur and Senior Operating and Management Executive.
More info @ www.rosyblue.com
He transformed a manufacturer / trader office to a global marketer of a broad range of products and services, demonstrating the group's leadership in value-added, vertically integrated supply partner. You can say that 35 years of strong domestic and international P&L management experience driving market share, revenue and profit growth, made him a high-integrity, energetic entrepreneur and Senior Operating and Management Executive.
More info @ www.rosyblue.com
Mines, Mosquitoes and Multicolour: An Adventure in Madagascar
David Weinberg writes:
Multicolour.com’s Bangkok-based partner David Weinberg has just returned from a fact-finding visit with his family to Madagascar where he discovered at first hand the realities of life in a country famed as one of the world’s most prolific sources of gemstones.
Madagascar is an extraordinary country – vibrant, exciting, frightening and fun, all at once. And there are gemstones, everywhere! Touching down on in the Multicolour Single Engine Beechcraft airplane at Andelamena was an experience in itself, as Andelamena International is a grass field with a 385yard runway—easy to land but hard to take off. The French pilot Michele is experienced but even with the three of us it would be hard to take off from the short runway so we had to dump most of the gas. Scary plane rides are all in a day’s work for my partner Werner, and I have to admit I was more worried about the mosquitoes than anything.
African stories about malaria had me worried and then my friend Arnold told me about the German tourist in Tulear who died of encephalitis and how mosquitoes were the most dangerous animals imaginable. My older daughter, who didn’t really want to go to Madagascar anyway, told me they had Ebola too—I believed her of course. And get this—they still have cases of bubonic plague. We went there anyway, despite the worries, and it was fascinating—a 226 square mile island in the Indian Ocean to the east of Africa with just 15 million people living there.
We arrived in the capital, Antananarivo (Tana), after the long flight from Bangkok and Singapore with a stop at the tiny French island of Reunion. Customs were about the same as other third world countries – disorganized, confused, generally disinterested, and looking for handouts. We don’t speak much French so I was happy that Werner came to meet us at the airport. There were mosquitoes in the airport too. Werner offered us a place to stay but there were mosquitoes there as well, so we decided to try the Hilton. We had a business card from another Swiss guy who must have been a big shot because we got a 50% discount after some minor haggling and trying the old "I’m a travel agent" trick. It wasn’t long before the real adventure began, with our visit to the mines at Andelamena, only a plane ride, but a million miles away from the Hilton.
The new deposit is actually about 85 kilometers north of the village. Most of the sellers were either miners or middlemen who had walked the 85 kilometers to sell us the rubies. Like most parts of Madagascar, there are no roads so walking or flying are the only options. As usual there was a big line in front of the Multicolour hut. With 20 years experience buying in the bush, Werner knows the huts have to be specially designed with a separate entrance and exit, and strong enough to withstand all the pushing and shoving. The buying was great—excellent quality for the price. The ruby was a bit violet but the sizes were good and the material looked quite clean. Many of the pieces would yield rubies over a carat and some could make more than three or four carats. I have yet to see the cut stones but Werner says they burn well and the Thais like to buy it if they can. When I arrived, the police or army guys were there to chase all the Thai gem dealers away, but we must have had the right connections because they didn’t bother us.
The long line-up to sell to us quickly developed a party atmosphere, with blasting Malagasy music, tape sellers, and people selling ice cream. We bought for three or four hours and went through 20 or 30kgs of cash. Yes, kilograms – the cash is heavier than the stones! Werner looked at all of the stones and we bought between 60 and 90 percent of what was offered. No time for bargaining, Werner tells them the price and it’s ´yes´ or ´no´. No second chance. Our offers are good and they sometimes come away with more than they expect. But if they show the same stone twice or try to show another parcel with out agreeing on the first one, they get short shrift from the inimitable Werner, and often a light tap on the head with his flashlight!
The plastic bags they carry the stones in are something else. They’ve been repaired with scotch tape a thousand times and they don’t even look like a plastic bag anymore. I ask Werner: "Why don’t they have plastic bags?" He says the tape is cheaper, or they just don’t have any plastic bags. Strange! So many rubies, but no plastic bags to keep them in! The next day we took "Mad Air" down to Tulear [Toliara??] while the Multicolour shuttle flew down to Ilakaka. With space for a bodyguard, a pilot, the buyer and the 40kgs of cash we had to rent a car and would rendezvous the next day. After all that excitement at the mine it was time for a couple of peaceful days on the beach at Ifaty – we ate seafood, including stingray, and saw a bit of everyday Madagascar life.
We went snorkeling over the beautiful coral, and my wife Na, who is an artist, had time to paint some of the local scenery. Just the birds singing and the crickets chirping…No success on the fishing trip though! We savored the fresh air after the smoky atmosphere of Antananarivo, where a lot of charcoal is burned for cooking. The Yamabalaya mixed seafood was excellent, and there was even chilli sauce, much to the delight of Na: And just enough time for the girls to check out the shopping – batiks, shells and local crafts, and for Na to do some painting, despite the unwanted attentions of curious locals.
I was still worried about the mosquitoes, but fortunately they were scarce. We met with Clement, one of our well-connected local partners, and drove up to Ilakaka. The drive was uneventful with the odd baobab tree adding to the excitement for us. It looked like New Zealand, reckoned Na. The road was pretty good with few cars but more ox carts and plenty of the locals just walking. Coming from Thailand, we were all elated to find a Thai restaurant right there in the middle of nowhere near Ilakaka. We had a quick look at the town and went back to the Thai restaurant/hotel to stay for the night. The Thais were out there in the high desert practicing their golf and partying as usual. We all ordered the Thai seafood noodles and my younger daughter Danielle ordered the crab. She always likes crab. It was cold and very windy in the high desert Ilakaka plain, much colder than I expected for a tropical country.
Next day we were in the official buying area, buying again. The government tries to control the business but in general they are hardly involved and free market forces flourish, distributing cash to the miners and diggers, who in turn redistribute it throughout the country with a multiplier effect, which can only be good for such an impoverished nation. As usual the line to sell was long. They start queuing as soon as the plane arrives.
Indeed, even if you don’t have stones, your place in the line is worth money and it can be sold. The security is there mostly for crowd control – five or six army guys with guns, and a couple of police as well as the regular Multicolour black belt bodyguards, trying to prevent the stampeding. It’s not the danger of robbery; it’s more the pushing and shoving of hundreds of over-eager locals anxious to sell to Multicolour because the prices are fair and because we buy all kinds of stones and every quality. The line has rules and the security team is there to see that they are enforced. Women and children come first, everyone gets a chance to show; if you want to bargain, go back to the end of the line; and don’t get caught showing the same stone twice. Sometimes they even dig under the fence to try and cut the queue! At one point the crowd was really pushing and I thought the hut was going to give way with my kids inside. My teenage daughters didn’t want to walk around outside and didn’t appreciate the attention.
One Madagascan lad tried to hold my younger daughter’s hand, which terrified her, and she stifled a cry. I don’t think there was any danger, they’re all just there for the money, but she probably thought otherwise. Trust is the key, especially as many of the sellers don’t know the price. It was amazing – when we arrived there were ten or more shops open for buying. After a few minutes all the other buyers cleared out –it was pointless for them to even attempt to buy as the entire crowd was lined up for Werner. The prices are good and we buy all.
What’s a miner to do with the stones he can’t sell? Put them back in the mine? Finished with that line, we were off again. The girls had had enough anyway. That night we stayed at Les Renes De L’Isalo a beautiful hotel built into the unique rock formations in the Ilakaka area at Isalo National Park. It was a welcome respite and the girls surely appreciated the clean accommodation, while Na thought it was stunning. "It looked like a palace," she said.
Werner flew off for more buying in the capital and we took the scenic route – 703 km from Ilakaka to Antananirvo, or rather 14 long tortuous hours off twists and turns: The "Long and Winding Road" to be sure. Fianaratsoa was a milestone of sorts with the old combination French-Chinese style hotel serving as our accommodation for two nights while we went sightseeing to Ranomafana National Park. The road was really bad and it took four hours to negotiate the 120 km round trip. The waterfalls were well worth the trip, however, but we didn’t see any of the lemurs the island is famed for. There was also plenty of opportunity for Na to paint as well, and a spot of shopping for crafts and a very nice chess set.
On Sunday we drove the last 405 kilometers. The locals seemed to like hats from the 50’s and were all dressed up in the Sunday best for church. Antsirabe was another highlight with some interesting colonial architecture and generally nice scenery. It seems to be a manufacturing area but they still have cholera and I was worried about that. I always like a big meal and we had a wonderful fondue bourguignon the last night before the return flight. I tell my wife: "We need carbohydrate loading for marathon airplane flights." Customs seemed like they wanted kickbacks for anything – even the wooden chess set we bought. Back to reality, I suppose, until the next time...
More info @ www.multicolour.com
Multicolour.com’s Bangkok-based partner David Weinberg has just returned from a fact-finding visit with his family to Madagascar where he discovered at first hand the realities of life in a country famed as one of the world’s most prolific sources of gemstones.
Madagascar is an extraordinary country – vibrant, exciting, frightening and fun, all at once. And there are gemstones, everywhere! Touching down on in the Multicolour Single Engine Beechcraft airplane at Andelamena was an experience in itself, as Andelamena International is a grass field with a 385yard runway—easy to land but hard to take off. The French pilot Michele is experienced but even with the three of us it would be hard to take off from the short runway so we had to dump most of the gas. Scary plane rides are all in a day’s work for my partner Werner, and I have to admit I was more worried about the mosquitoes than anything.
African stories about malaria had me worried and then my friend Arnold told me about the German tourist in Tulear who died of encephalitis and how mosquitoes were the most dangerous animals imaginable. My older daughter, who didn’t really want to go to Madagascar anyway, told me they had Ebola too—I believed her of course. And get this—they still have cases of bubonic plague. We went there anyway, despite the worries, and it was fascinating—a 226 square mile island in the Indian Ocean to the east of Africa with just 15 million people living there.
We arrived in the capital, Antananarivo (Tana), after the long flight from Bangkok and Singapore with a stop at the tiny French island of Reunion. Customs were about the same as other third world countries – disorganized, confused, generally disinterested, and looking for handouts. We don’t speak much French so I was happy that Werner came to meet us at the airport. There were mosquitoes in the airport too. Werner offered us a place to stay but there were mosquitoes there as well, so we decided to try the Hilton. We had a business card from another Swiss guy who must have been a big shot because we got a 50% discount after some minor haggling and trying the old "I’m a travel agent" trick. It wasn’t long before the real adventure began, with our visit to the mines at Andelamena, only a plane ride, but a million miles away from the Hilton.
The new deposit is actually about 85 kilometers north of the village. Most of the sellers were either miners or middlemen who had walked the 85 kilometers to sell us the rubies. Like most parts of Madagascar, there are no roads so walking or flying are the only options. As usual there was a big line in front of the Multicolour hut. With 20 years experience buying in the bush, Werner knows the huts have to be specially designed with a separate entrance and exit, and strong enough to withstand all the pushing and shoving. The buying was great—excellent quality for the price. The ruby was a bit violet but the sizes were good and the material looked quite clean. Many of the pieces would yield rubies over a carat and some could make more than three or four carats. I have yet to see the cut stones but Werner says they burn well and the Thais like to buy it if they can. When I arrived, the police or army guys were there to chase all the Thai gem dealers away, but we must have had the right connections because they didn’t bother us.
The long line-up to sell to us quickly developed a party atmosphere, with blasting Malagasy music, tape sellers, and people selling ice cream. We bought for three or four hours and went through 20 or 30kgs of cash. Yes, kilograms – the cash is heavier than the stones! Werner looked at all of the stones and we bought between 60 and 90 percent of what was offered. No time for bargaining, Werner tells them the price and it’s ´yes´ or ´no´. No second chance. Our offers are good and they sometimes come away with more than they expect. But if they show the same stone twice or try to show another parcel with out agreeing on the first one, they get short shrift from the inimitable Werner, and often a light tap on the head with his flashlight!
The plastic bags they carry the stones in are something else. They’ve been repaired with scotch tape a thousand times and they don’t even look like a plastic bag anymore. I ask Werner: "Why don’t they have plastic bags?" He says the tape is cheaper, or they just don’t have any plastic bags. Strange! So many rubies, but no plastic bags to keep them in! The next day we took "Mad Air" down to Tulear [Toliara??] while the Multicolour shuttle flew down to Ilakaka. With space for a bodyguard, a pilot, the buyer and the 40kgs of cash we had to rent a car and would rendezvous the next day. After all that excitement at the mine it was time for a couple of peaceful days on the beach at Ifaty – we ate seafood, including stingray, and saw a bit of everyday Madagascar life.
We went snorkeling over the beautiful coral, and my wife Na, who is an artist, had time to paint some of the local scenery. Just the birds singing and the crickets chirping…No success on the fishing trip though! We savored the fresh air after the smoky atmosphere of Antananarivo, where a lot of charcoal is burned for cooking. The Yamabalaya mixed seafood was excellent, and there was even chilli sauce, much to the delight of Na: And just enough time for the girls to check out the shopping – batiks, shells and local crafts, and for Na to do some painting, despite the unwanted attentions of curious locals.
I was still worried about the mosquitoes, but fortunately they were scarce. We met with Clement, one of our well-connected local partners, and drove up to Ilakaka. The drive was uneventful with the odd baobab tree adding to the excitement for us. It looked like New Zealand, reckoned Na. The road was pretty good with few cars but more ox carts and plenty of the locals just walking. Coming from Thailand, we were all elated to find a Thai restaurant right there in the middle of nowhere near Ilakaka. We had a quick look at the town and went back to the Thai restaurant/hotel to stay for the night. The Thais were out there in the high desert practicing their golf and partying as usual. We all ordered the Thai seafood noodles and my younger daughter Danielle ordered the crab. She always likes crab. It was cold and very windy in the high desert Ilakaka plain, much colder than I expected for a tropical country.
Next day we were in the official buying area, buying again. The government tries to control the business but in general they are hardly involved and free market forces flourish, distributing cash to the miners and diggers, who in turn redistribute it throughout the country with a multiplier effect, which can only be good for such an impoverished nation. As usual the line to sell was long. They start queuing as soon as the plane arrives.
Indeed, even if you don’t have stones, your place in the line is worth money and it can be sold. The security is there mostly for crowd control – five or six army guys with guns, and a couple of police as well as the regular Multicolour black belt bodyguards, trying to prevent the stampeding. It’s not the danger of robbery; it’s more the pushing and shoving of hundreds of over-eager locals anxious to sell to Multicolour because the prices are fair and because we buy all kinds of stones and every quality. The line has rules and the security team is there to see that they are enforced. Women and children come first, everyone gets a chance to show; if you want to bargain, go back to the end of the line; and don’t get caught showing the same stone twice. Sometimes they even dig under the fence to try and cut the queue! At one point the crowd was really pushing and I thought the hut was going to give way with my kids inside. My teenage daughters didn’t want to walk around outside and didn’t appreciate the attention.
One Madagascan lad tried to hold my younger daughter’s hand, which terrified her, and she stifled a cry. I don’t think there was any danger, they’re all just there for the money, but she probably thought otherwise. Trust is the key, especially as many of the sellers don’t know the price. It was amazing – when we arrived there were ten or more shops open for buying. After a few minutes all the other buyers cleared out –it was pointless for them to even attempt to buy as the entire crowd was lined up for Werner. The prices are good and we buy all.
What’s a miner to do with the stones he can’t sell? Put them back in the mine? Finished with that line, we were off again. The girls had had enough anyway. That night we stayed at Les Renes De L’Isalo a beautiful hotel built into the unique rock formations in the Ilakaka area at Isalo National Park. It was a welcome respite and the girls surely appreciated the clean accommodation, while Na thought it was stunning. "It looked like a palace," she said.
Werner flew off for more buying in the capital and we took the scenic route – 703 km from Ilakaka to Antananirvo, or rather 14 long tortuous hours off twists and turns: The "Long and Winding Road" to be sure. Fianaratsoa was a milestone of sorts with the old combination French-Chinese style hotel serving as our accommodation for two nights while we went sightseeing to Ranomafana National Park. The road was really bad and it took four hours to negotiate the 120 km round trip. The waterfalls were well worth the trip, however, but we didn’t see any of the lemurs the island is famed for. There was also plenty of opportunity for Na to paint as well, and a spot of shopping for crafts and a very nice chess set.
On Sunday we drove the last 405 kilometers. The locals seemed to like hats from the 50’s and were all dressed up in the Sunday best for church. Antsirabe was another highlight with some interesting colonial architecture and generally nice scenery. It seems to be a manufacturing area but they still have cholera and I was worried about that. I always like a big meal and we had a wonderful fondue bourguignon the last night before the return flight. I tell my wife: "We need carbohydrate loading for marathon airplane flights." Customs seemed like they wanted kickbacks for anything – even the wooden chess set we bought. Back to reality, I suppose, until the next time...
More info @ www.multicolour.com
Campbell Bridges
AP writes:
Geologist Campbell Bridges's fascination with a rare, shimmering green stone known as tsavorite has meant a lifetime of adventure. He has dodged elephants and buffalo, mined in areas infested by snakes and scorpions, all on a quest for the gem. It all started more than 40 years ago, he recalled recently as he sat by a crackling fire beneath his tree house deep in the Kenyan bush, where he was directing his latest mining project.
It was 1961 and Bridges, a bearded Scotsman with a voice reminiscent of Sean Connery during his James Bond period, was working for the British colonial government in what was then Rhodesia, searching for uranium when he attracted the attention of an angry buffalo. He jumped into a gully to escape, and noticed a green glint in the earth. The buffalo, unable to reach him, eventually wandered away. But tsavorite never loosened its hold on Bridges's imagination. As he scrambled along the gully that day, he didn't have time to mark the location of that first sample.Back then, tsavorite did not even have a name. Bridges knew of the rare and precious member of the green garnet family, but had never before seen it.
Seven years later, he became the first man to record the discovery of gemstone quality tsavorite, in Tanzania. Gemstone-quality tsavorite has so far been mined only in Tanzania and Kenya. It varies from light to dark green and is exceptionally lively and brilliant, even before polishing "A perfect tsavorite is like green diamond," Bridges, 68, said in this remote, southeastern corner of Kenya. "You don't even need to rotate it to see its brilliance." Tsavorite (pronounced TZAH vor rite) is one of the youngest green gemstones in the world and is as hard as one of the oldest, emerald. Tsavorites are much rarer than emeralds. They also are much tougher, less brittle, more durable and twice as brilliant _ qualities that attract jewelry designers, Richard Wise, a geologist and president of R. W. Wise, Goldsmiths Inc. said by telephone from Lenox, Massachusetts.
Tsavorite also is one of the few gemstones that does not need to be treated with heat, oil, irradiation, dyes or coating to enhance color, remove impurities and hide flaws. "It is one of the few natural gemstones in the world," said Kennedy Kamwathi, a jeweler in Kenya's capital, Nairobi.
For all its qualities, retailers are reluctant to stock and promote a gemstone whose supplies are not guaranteed a situation that has prevented tsavorite from becoming better known.Because deposits, known as pockets, are small and fragile, tsavorite is difficult to mine. Miners start by blasting rocks with dynamite, then use drills, and finally chisel to chip their way to the prized crystals. In recent years, additional tsavorite production has come on stream along the Mozambican gemstone belt _ a geological formation that runs from the Indian Ocean island of Madagascar to continental Mozambique, Tanzania, Kenya, Ethiopia and Sudan, Bridges said.
The belt is laden with tsavorite, rubies, sapphires, turquoise, rodolite, garnets and other prized stones. "I would say the Mozambican belt is the richest gem belt in Africa," said Bridges, who has explored large parts of the formation.Bridge's gemstone adventure has suffered some setbacks, the most serious of which occurred in 1970, when the then-socialist Tanzanian government nationalized his tsavorite mines without compensation. He moved to neighboring Kenya, reviewed colonial geological records to search for suitable rock formations and found tsavorite three months later _ near two national parks that have the largest elephant population in the country.Bridges and Henry Platt, then deputy head of Tiffany, named the gemstone after the wildlife sanctuaries, Tsavo East and Tsavo West national parks.
Tsavorite costs between US$900-2,000 per carat in shops. Bigger stones will go for much more. "At the moment, tsavorite's price is 1/10th of the price of an equivalent quality emerald," Bridges said. "Emerald was found thousands of years ago, so it had more time to be romanced." It already is romantic enough for Bridges. He said he proposed to his wife using a ruby mined from one of his operations, but plans to give her a two-carat tsavorite to mark their 40th anniversary.
Geologist Campbell Bridges's fascination with a rare, shimmering green stone known as tsavorite has meant a lifetime of adventure. He has dodged elephants and buffalo, mined in areas infested by snakes and scorpions, all on a quest for the gem. It all started more than 40 years ago, he recalled recently as he sat by a crackling fire beneath his tree house deep in the Kenyan bush, where he was directing his latest mining project.
It was 1961 and Bridges, a bearded Scotsman with a voice reminiscent of Sean Connery during his James Bond period, was working for the British colonial government in what was then Rhodesia, searching for uranium when he attracted the attention of an angry buffalo. He jumped into a gully to escape, and noticed a green glint in the earth. The buffalo, unable to reach him, eventually wandered away. But tsavorite never loosened its hold on Bridges's imagination. As he scrambled along the gully that day, he didn't have time to mark the location of that first sample.Back then, tsavorite did not even have a name. Bridges knew of the rare and precious member of the green garnet family, but had never before seen it.
Seven years later, he became the first man to record the discovery of gemstone quality tsavorite, in Tanzania. Gemstone-quality tsavorite has so far been mined only in Tanzania and Kenya. It varies from light to dark green and is exceptionally lively and brilliant, even before polishing "A perfect tsavorite is like green diamond," Bridges, 68, said in this remote, southeastern corner of Kenya. "You don't even need to rotate it to see its brilliance." Tsavorite (pronounced TZAH vor rite) is one of the youngest green gemstones in the world and is as hard as one of the oldest, emerald. Tsavorites are much rarer than emeralds. They also are much tougher, less brittle, more durable and twice as brilliant _ qualities that attract jewelry designers, Richard Wise, a geologist and president of R. W. Wise, Goldsmiths Inc. said by telephone from Lenox, Massachusetts.
Tsavorite also is one of the few gemstones that does not need to be treated with heat, oil, irradiation, dyes or coating to enhance color, remove impurities and hide flaws. "It is one of the few natural gemstones in the world," said Kennedy Kamwathi, a jeweler in Kenya's capital, Nairobi.
For all its qualities, retailers are reluctant to stock and promote a gemstone whose supplies are not guaranteed a situation that has prevented tsavorite from becoming better known.Because deposits, known as pockets, are small and fragile, tsavorite is difficult to mine. Miners start by blasting rocks with dynamite, then use drills, and finally chisel to chip their way to the prized crystals. In recent years, additional tsavorite production has come on stream along the Mozambican gemstone belt _ a geological formation that runs from the Indian Ocean island of Madagascar to continental Mozambique, Tanzania, Kenya, Ethiopia and Sudan, Bridges said.
The belt is laden with tsavorite, rubies, sapphires, turquoise, rodolite, garnets and other prized stones. "I would say the Mozambican belt is the richest gem belt in Africa," said Bridges, who has explored large parts of the formation.Bridge's gemstone adventure has suffered some setbacks, the most serious of which occurred in 1970, when the then-socialist Tanzanian government nationalized his tsavorite mines without compensation. He moved to neighboring Kenya, reviewed colonial geological records to search for suitable rock formations and found tsavorite three months later _ near two national parks that have the largest elephant population in the country.Bridges and Henry Platt, then deputy head of Tiffany, named the gemstone after the wildlife sanctuaries, Tsavo East and Tsavo West national parks.
Tsavorite costs between US$900-2,000 per carat in shops. Bigger stones will go for much more. "At the moment, tsavorite's price is 1/10th of the price of an equivalent quality emerald," Bridges said. "Emerald was found thousands of years ago, so it had more time to be romanced." It already is romantic enough for Bridges. He said he proposed to his wife using a ruby mined from one of his operations, but plans to give her a two-carat tsavorite to mark their 40th anniversary.
Internet Threatens N.Y. Diamond Dealers' Way Of Life
(via Reuters InformationWeek ) Karina Huber and Reuven Fenton writes:
Many of the old-time diamond dealers whose shops line Manhattan's West 47th Street are having difficulty competing with online companies such as Seattle-based BlueNile.com.
In the confines of the Diamond Dealers Club, a Hasidic Jew from Brooklyn and a dealer from Antwerp huddle over a small, folded piece of paper.
The Hasid reaches inside to produce a flawless diamond, which his client inspects closely with a jeweler's magnifying glass. The two reach a deal, shake hands and say a Hebrew blessing "Mazal U' Bracha" ("Good luck and God bless"). This typical scene, witnessed earlier this month at the elite epicenter of New York City's diamond business, is becoming threatened by electronic commerce.
"In the olden days, most of the trading happened on the trading floor. Now it's moved to electronic," said Elliott Krisher, treasurer of the Diamond Dealers Club. "It's become an electronic handshake." In the last five years, membership in the club has stayed flat at 2,000. Yet 1,200 new members joined the club's Web-based trading platform launched four years ago.
Many of the old-time dealers whose shops line Manhattan's West 47th Street are having difficulty competing with online companies such as Seattle-based BlueNile.com, a jewelry company whose estimated earnings for 2006 are $250 million, up from $44 million six years ago.
The diamond merchants form an enclave along a western block of Manhattan's 47th Street that is lined with jewelry stores. The dealers club estimates some 2,000 businesses along the street are connected in some way to the diamond businesses, among them shops, dealers and gem cutters. Many who work there are ultra-Orthodox Jews, clad in traditional long dark coats, black hats and beards.
What has happened to the diamond business is like the troubles affecting many retailers such as book, video and electronic stores that struggle to beat online rivals. The online companies are "cutting out the middleman," said Jack Friedman, a diamond broker. Friedman has earned his living for 20 years running from wholesaler to wholesaler finding stones for his clients, who are jewelry store owners.
There is no loyalty, he said, when jewelers can search for diamonds online. "With the Internet, there are jewelers that don't call anymore," Friedman said, adding that the only reason he's still in business is because "He's still here," pointing to the sky. Before the Internet, wholesalers would sell stones to jewelers, who would keep them in stock for future sales. Now that stones are just a click and overnight shipment away, there is less need for inventory.
Wholesalers increasingly must sell on consignment, and if a jeweler can't sell a diamond the wholesaler must take it back without making a cent. Retailer Meyer Malakov, owner of Diva Diamonds on the corner of 47th Street and Fifth Avenue, said he has noticed a traffic decline in the diamond district over the past five years and that Internet-savvy shoppers have grown more educated.
He complained that their new-found knowledge is "deadly" because customers think they know a lot about diamonds but they cannot pick up on the nuances of a stone, he said. "You have to feel it, touch it, make sure that you love it," he said. Customers also use the Internet to comparison shop, Malakov said, and they expect him to match advertised prices. Nevertheless, Malakov said he is doing well because he caters to high-end customers who would prefer to see a $20,000 stone in person before buying it.
However, people are increasingly buying expensive jewelry such as engagement rings and tennis bracelets online. According to spokesman John Baird, BlueNile.com sold a piece of jewelry for $324,000 in October, sight unseen. Baird said the online diamonds have been certified by the Gemological Institute of America and the American Gem Society Laboratories, arbiters of a stone's value.
BlueNile.com sells diamonds for 30% to 40% less than the store price because there are no overhead costs such as retail space and large numbers of employees, Baird said. "The supply chain was so convoluted" on 47th Street, he said. "There were layers and layers of middlemen, and all of that cost was being pushed down to consumers."
But purchasing diamonds online has its risks, said Cecilia Gardner, head of the Jewelers Vigilance Committee, an industry trade association. She said some consumers who have tried to return diamonds bought online found the seller company no longer existed. She advises online shoppers to get a return policy in writing. "Ask a lot of questions and if you're not getting answers, shop someplace else," she said. Some diamond dealers are starting their own Web sites.
Corey Friedman, a wholesaler and jeweler at I. Friedman and Sons Jewelers on 47th Street, said he searches for merchandise online and runs a Web site that sells directly to retail shops and consumers. "I just sold a five-carat fancy yellow diamond to someone in California," Friedman said. "I'll never meet him." While Web sites may be a key to survival in the Diamond District, some believe that selecting engagement rings in person will never go out of fashion. "A diamond is a romantic item," Krisher said. "It's not so romantic to click and buy something on the Internet."
More info @ http://www.informationweek.com/story/showArticle.jhtml?articleID=196701637&cid=RSSfeed_IWK_Internet
Many of the old-time diamond dealers whose shops line Manhattan's West 47th Street are having difficulty competing with online companies such as Seattle-based BlueNile.com.
In the confines of the Diamond Dealers Club, a Hasidic Jew from Brooklyn and a dealer from Antwerp huddle over a small, folded piece of paper.
The Hasid reaches inside to produce a flawless diamond, which his client inspects closely with a jeweler's magnifying glass. The two reach a deal, shake hands and say a Hebrew blessing "Mazal U' Bracha" ("Good luck and God bless"). This typical scene, witnessed earlier this month at the elite epicenter of New York City's diamond business, is becoming threatened by electronic commerce.
"In the olden days, most of the trading happened on the trading floor. Now it's moved to electronic," said Elliott Krisher, treasurer of the Diamond Dealers Club. "It's become an electronic handshake." In the last five years, membership in the club has stayed flat at 2,000. Yet 1,200 new members joined the club's Web-based trading platform launched four years ago.
Many of the old-time dealers whose shops line Manhattan's West 47th Street are having difficulty competing with online companies such as Seattle-based BlueNile.com, a jewelry company whose estimated earnings for 2006 are $250 million, up from $44 million six years ago.
The diamond merchants form an enclave along a western block of Manhattan's 47th Street that is lined with jewelry stores. The dealers club estimates some 2,000 businesses along the street are connected in some way to the diamond businesses, among them shops, dealers and gem cutters. Many who work there are ultra-Orthodox Jews, clad in traditional long dark coats, black hats and beards.
What has happened to the diamond business is like the troubles affecting many retailers such as book, video and electronic stores that struggle to beat online rivals. The online companies are "cutting out the middleman," said Jack Friedman, a diamond broker. Friedman has earned his living for 20 years running from wholesaler to wholesaler finding stones for his clients, who are jewelry store owners.
There is no loyalty, he said, when jewelers can search for diamonds online. "With the Internet, there are jewelers that don't call anymore," Friedman said, adding that the only reason he's still in business is because "He's still here," pointing to the sky. Before the Internet, wholesalers would sell stones to jewelers, who would keep them in stock for future sales. Now that stones are just a click and overnight shipment away, there is less need for inventory.
Wholesalers increasingly must sell on consignment, and if a jeweler can't sell a diamond the wholesaler must take it back without making a cent. Retailer Meyer Malakov, owner of Diva Diamonds on the corner of 47th Street and Fifth Avenue, said he has noticed a traffic decline in the diamond district over the past five years and that Internet-savvy shoppers have grown more educated.
He complained that their new-found knowledge is "deadly" because customers think they know a lot about diamonds but they cannot pick up on the nuances of a stone, he said. "You have to feel it, touch it, make sure that you love it," he said. Customers also use the Internet to comparison shop, Malakov said, and they expect him to match advertised prices. Nevertheless, Malakov said he is doing well because he caters to high-end customers who would prefer to see a $20,000 stone in person before buying it.
However, people are increasingly buying expensive jewelry such as engagement rings and tennis bracelets online. According to spokesman John Baird, BlueNile.com sold a piece of jewelry for $324,000 in October, sight unseen. Baird said the online diamonds have been certified by the Gemological Institute of America and the American Gem Society Laboratories, arbiters of a stone's value.
BlueNile.com sells diamonds for 30% to 40% less than the store price because there are no overhead costs such as retail space and large numbers of employees, Baird said. "The supply chain was so convoluted" on 47th Street, he said. "There were layers and layers of middlemen, and all of that cost was being pushed down to consumers."
But purchasing diamonds online has its risks, said Cecilia Gardner, head of the Jewelers Vigilance Committee, an industry trade association. She said some consumers who have tried to return diamonds bought online found the seller company no longer existed. She advises online shoppers to get a return policy in writing. "Ask a lot of questions and if you're not getting answers, shop someplace else," she said. Some diamond dealers are starting their own Web sites.
Corey Friedman, a wholesaler and jeweler at I. Friedman and Sons Jewelers on 47th Street, said he searches for merchandise online and runs a Web site that sells directly to retail shops and consumers. "I just sold a five-carat fancy yellow diamond to someone in California," Friedman said. "I'll never meet him." While Web sites may be a key to survival in the Diamond District, some believe that selecting engagement rings in person will never go out of fashion. "A diamond is a romantic item," Krisher said. "It's not so romantic to click and buy something on the Internet."
More info @ http://www.informationweek.com/story/showArticle.jhtml?articleID=196701637&cid=RSSfeed_IWK_Internet
Trade Journals Relating To Watch & Jewelry Industry
I found the following links educational + informative.
Pagine d’oro
Pen ME
Penna
Schmuck Magazin
Shenzhen Watch & Clock
Solitaire International
Solitaire and PRO
Stylus
Swiss Watch Report
The Best Joyas
Tiempo de Joyas
Tiempo de Relojes
Tiempo de Relojes Edición Puerto Rico
Time ‘N'Style
Timeless Jewels
Trade Post
Trends Time
Trésor - das Magazin für Uhren, Schmuck & Lifestyle
TWG Magazine
Uhren Juwelen
U.J.S. - Uhren Juwelen Schmuck
Watch Business
Watch Review
Watch Style & Time (Chasy Stil & Vremya)
WatchTime
World One
Pagine d’oro
Pen ME
Penna
Schmuck Magazin
Shenzhen Watch & Clock
Solitaire International
Solitaire and PRO
Stylus
Swiss Watch Report
The Best Joyas
Tiempo de Joyas
Tiempo de Relojes
Tiempo de Relojes Edición Puerto Rico
Time ‘N'Style
Timeless Jewels
Trade Post
Trends Time
Trésor - das Magazin für Uhren, Schmuck & Lifestyle
TWG Magazine
Uhren Juwelen
U.J.S. - Uhren Juwelen Schmuck
Watch Business
Watch Review
Watch Style & Time (Chasy Stil & Vremya)
WatchTime
World One
Sunday, December 24, 2006
Gitanjali Gems Acquires Samuels Jewelers
JCK-Jewelers Circular Keystone writes:
Gitanjali Gems Ltd. has acquired a majority ownership interest in Samuels Jewelers Inc. from funds managed by DDJ Capital Management. Terms of the transaction were not disclosed.
Samuels operates 97 retail jewelry stores in 18 states throughout the United States. It operates under three trade names: "Samuels," "Schubach," and "Samuels Diamonds." Measured by the number of retail locations, Samuels is the tenth largest specialty retailer of fine jewelry in the United States. The company will remain headquartered in Austin, Texas, according to a statement released Wednesday.
More info @ http://www.jckonline.com/article/CA6401819.html?industryid=46018
Gitanjali Gems Ltd. has acquired a majority ownership interest in Samuels Jewelers Inc. from funds managed by DDJ Capital Management. Terms of the transaction were not disclosed.
Samuels operates 97 retail jewelry stores in 18 states throughout the United States. It operates under three trade names: "Samuels," "Schubach," and "Samuels Diamonds." Measured by the number of retail locations, Samuels is the tenth largest specialty retailer of fine jewelry in the United States. The company will remain headquartered in Austin, Texas, according to a statement released Wednesday.
More info @ http://www.jckonline.com/article/CA6401819.html?industryid=46018
Fashion Forward: Best of Breed
Modern Jeweler writes:
Before you start barking at the idea of selling diamonds for a dog, cat, or even other pets, ponder this: Consumer spending on pets has doubled in the last 10 years to $38.4 billion. Although much of that spending is on food, supplies, and veterinary care, the American Pet Product Manufacturers Association says spending is increasing in high-end areas due to the influence of the baby boomers. This affluent and influential generation many of whom are now also empty nesters, are pampering their pets with everything from gourmet pet food to, yes, even diamond jewelry. As the jewelry industry has responded to the tween and men’s markets, now pet jewelry is the latest little luxury. And as consumers celebrate their pets, they also wear pet inspired jewelry; some, in fact, can be worn by either pet or human.
More info @ http://archives.modernjeweler.com/publication/article.jsp?pubId=1&id=174
Before you start barking at the idea of selling diamonds for a dog, cat, or even other pets, ponder this: Consumer spending on pets has doubled in the last 10 years to $38.4 billion. Although much of that spending is on food, supplies, and veterinary care, the American Pet Product Manufacturers Association says spending is increasing in high-end areas due to the influence of the baby boomers. This affluent and influential generation many of whom are now also empty nesters, are pampering their pets with everything from gourmet pet food to, yes, even diamond jewelry. As the jewelry industry has responded to the tween and men’s markets, now pet jewelry is the latest little luxury. And as consumers celebrate their pets, they also wear pet inspired jewelry; some, in fact, can be worn by either pet or human.
More info @ http://archives.modernjeweler.com/publication/article.jsp?pubId=1&id=174
Saturday, December 23, 2006
Photographic Jewelry
Collector Cafe writes:
Those familiar with Victoriana may know all about photographs and jewelry but might not have come across the two combined. Photographic jewelry is jewelry that contains a photographic image in place of a cameo or gem stone. The phenomena were popular in the nineteenth century when photography was first developed. Such was the interest and novelty of the first photographs in domestic circulation that they were seen as a fitting adornment for the Middle classes.One of the beauties of photographic jewelry was that it could be worn by both men and women. The photograph proved to be highly versatile – it could be cut to any size and chosen by the wearer to show a loved one or family member. The jewelry was made into many different forms including bracelets, brooches, pendants and pins. Whilst all types of photographic jewelry are collectable, the most popular type at auction is daguerro type. Daguerro type, invented in 1839, is one of the earliest photographic processes. The image was produced on iodine-sensitized silver and developed in mercury vapor and the image formed by this process is thought to be particularly beautiful.
Dating photographic jewelry should be based on the type of photographic image used. Daguerro types were most popular circa 1839 to 1857, ambro types (images on glass) 1854 to 1865, tintypes (images on tin) 1856 to 1900 and paper images from the 1850s to the present. The value of this jewelry values enormously from the inexpensive to the very expensive. Photographic cuff-links are perhaps most affordable at around $20 - $50. Photographic pins and lockets are also easy to find and the price not too prohibitive - a gold-filled daguerreian pin, without hair start around $150. Large photographic pendants were produced around the middle of the century, again using daguerro type images. These were highly personal items and make interesting collectibles. Often the larger pendants have a glass-fronted compartment on the back to store a lock of braided hair. But for serious collectors of this jewelry a daguerrian a ring would be the most prized possession. A good example can sell for over $1500.
More info @ www.collectorcafe.com
Those familiar with Victoriana may know all about photographs and jewelry but might not have come across the two combined. Photographic jewelry is jewelry that contains a photographic image in place of a cameo or gem stone. The phenomena were popular in the nineteenth century when photography was first developed. Such was the interest and novelty of the first photographs in domestic circulation that they were seen as a fitting adornment for the Middle classes.One of the beauties of photographic jewelry was that it could be worn by both men and women. The photograph proved to be highly versatile – it could be cut to any size and chosen by the wearer to show a loved one or family member. The jewelry was made into many different forms including bracelets, brooches, pendants and pins. Whilst all types of photographic jewelry are collectable, the most popular type at auction is daguerro type. Daguerro type, invented in 1839, is one of the earliest photographic processes. The image was produced on iodine-sensitized silver and developed in mercury vapor and the image formed by this process is thought to be particularly beautiful.
Dating photographic jewelry should be based on the type of photographic image used. Daguerro types were most popular circa 1839 to 1857, ambro types (images on glass) 1854 to 1865, tintypes (images on tin) 1856 to 1900 and paper images from the 1850s to the present. The value of this jewelry values enormously from the inexpensive to the very expensive. Photographic cuff-links are perhaps most affordable at around $20 - $50. Photographic pins and lockets are also easy to find and the price not too prohibitive - a gold-filled daguerreian pin, without hair start around $150. Large photographic pendants were produced around the middle of the century, again using daguerro type images. These were highly personal items and make interesting collectibles. Often the larger pendants have a glass-fronted compartment on the back to store a lock of braided hair. But for serious collectors of this jewelry a daguerrian a ring would be the most prized possession. A good example can sell for over $1500.
More info @ www.collectorcafe.com
Trade Journals Related To Watch & Jewelry Industry
I found the following links educational + informative.
Jewelbiz India
Jewellery New Millennium
Jewellery News Asia
Jewellery Review
Jewellery Review Monthly
Jewellery World
JF-W Magazine
Joia & Cia
JQ International Magazine
La Revue des Montres
Lamasat/Touch
Le Bijoutier
Máquinas del Tiempo
MJSA Magazine
Montres Magazines
Montres Passion
MOVMENT
MSM le Mensuel de l'Industrie
My Watch
Jewelbiz India
Jewellery New Millennium
Jewellery News Asia
Jewellery Review
Jewellery Review Monthly
Jewellery World
JF-W Magazine
Joia & Cia
JQ International Magazine
La Revue des Montres
Lamasat/Touch
Le Bijoutier
Máquinas del Tiempo
MJSA Magazine
Montres Magazines
Montres Passion
MOVMENT
MSM le Mensuel de l'Industrie
My Watch
Friday, December 22, 2006
How To Get Rich
A Charles T Munger quote:
A young shareholder asked Munger (Charles T Munger, Vice-Chairman of Berkshire Hathaway Corporation) how to follow in his footsteps, and Munger brought down the house by saying, "We get these questions a lot from the enterprising young. It's a very intelligent question: You look at some old guy who's rich and you ask, 'How can I become like you, except faster?'"
Munger's reply was: "Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts... Slug it out one inch at a time, day by day, at the end of the day -- if you live long enough -- most people get what they deserve."
A young shareholder asked Munger (Charles T Munger, Vice-Chairman of Berkshire Hathaway Corporation) how to follow in his footsteps, and Munger brought down the house by saying, "We get these questions a lot from the enterprising young. It's a very intelligent question: You look at some old guy who's rich and you ask, 'How can I become like you, except faster?'"
Munger's reply was: "Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts... Slug it out one inch at a time, day by day, at the end of the day -- if you live long enough -- most people get what they deserve."
Fireball Cultured Pearls: Learning Curves
David Federman writes:
Let's do some role-playing. You're a pearl dealer visiting Hong Kong. You've just been shown some eye-popping white baroque pearls that you would swear come from Australia. Hey, they've got the size, the shape, and the sheen.
The seller smiles. He knows what you're thinking. Then he tells you the price, which is a fraction of that quoted for bona fide South Sea baroque strands. You have a sudden moment of cognitive dissonance as you puzzle over the cost of these pearls. But just before you hear the price explained, you guess their true origin. It's China. How is this possible, you wonder. Are you sitting down?
They're bead-nucleated. You heard right: These pearls were grown in freshwater mussels implanted with 7 to 9mm balls of shell, along with pieces of mantle tissue, and then put in the water for two years while a cultured pearl grew. Now you're really confused. Aren't bead-nucleated pearls supposed to be round? Why are these misshapen?
So far, no one knows for sure. Fuji Voll of Pacific Pearls, Mill Valley, California, who has been predicting breakthrough pearls like these for some time, thinks farmers may be trying to avoid the high cost of training workers to be accomplished nucleators. So, instead of placing beads in the body of the mussel, they tuck nuclei just under the shell in easy-to-reach mantle area. There, unfortunately, beads can't keep pearls from going haywire.
Of course, few are complaining just yet about the failure to produce rounds because baroques are among the most popular pearls these days. At first glance, these first-ever top Chinese bead-nucleated freshwater baroque strands, especially if white, look like they come from the South Seas. In fact, the best of these freshwater baroques are being strung with their South Sea counterparts to make mixed-breed strands selling for $3,000 to $6,000. Available in 18 by 12 and 17 by 11mm sizes for under $200 per strand, the new Chinese baroques are easy to retail at three and four times their wholesale prices—and still remain bargains.
As you look closer and longer at these Chinese newcomers, you notice something distinctive about them that makes it easy to distinguish them from their South Sea counterparts. It's the wing-like protrusions, which have earned these new-breed baroques the name of "fireball pearls" among some Chinese farmers and dealers.
The name makes perfect—albeit provisional—sense because "fireball" pearls usually have meteor-like shapes. Turn back to Tino Hammid's photograph and you'll see pearls with round bellies and trailing wings that could be likened to flames.
Eventually, farmers hope, the wing tips will disappear the way tadpole tails disappear. And then so will the name "fireball." For, voila, then you will have perfect spheres. No wonder dealers like Voll are watching these pearls with keen anticipation.
TO BEAD OR NOT TO BEAD
A decade ago, China astounded the world with peach and lilac colored semi-round freshwater pearls nucleated only with mantle tissue. Even today, fine 10 and 11mm strands of these glories command thousands of dollars. But they remain exceptions to the rule.
Over time, people skeptical about these near-round pearls began to speculate that they were secretly nucleated with reject pearls to shape them and create all-nacre uni-bodies. But gemologists disproved this theory by x-raying thousands of pearls and finding no evidence of pearl-nucleation.
Now just when the gemological world has grown used to thinking of fine Chinese freshwater pearls as all-nacre, and some dealers lobby for them to be classified as "non-nucleated," Chinese aquaculture has taken a weird turn to nucleation. What gives?
It's the economy, silly. Or so say regular travelers to China like Voll and Jeremy Shepherd, who runs a kind of Blue Nile for pearls called Pearl Paradise.com based in Santa Monica, California. Shepherd, who visits Chinese pearl farms 12 times a year, says that "bead-nucleation cuts pearl growing times in half, allows production of larger sizes, and will one day result in perfect rounds."
Isn't that a return to the akoya aesthetic? Yes, he answers, but with lots of dividends. For whom? For China and for people who dream of owning pearls that look like they came from the South Seas—at a fraction of the price. Well, maybe not a fraction, but at considerably below South Sea norms. "The Chinese are becoming very good businessmen," Shepherd says.
"They are not going to give these pearls away once they have perfected them. But since production costs are far less than they are in Australia, they can sell their pearls at high prices which are still considerably less than those from the South Seas."
How soon, if ever, will we see such pearls? Voll thinks that we will see lovely 15-plus mm pearls by 2010. Shepherd predicts sizes as mammoth as 20mm by then.
True to South Sea standards, nacre thickness of the new bead-nucleated freshwater pearls will be at least 2mm. Moreover, since these pearls come from mussels that are six to ten times larger than akoya oysters, nuclei can be much larger. In addition, since the freshwater mollusks quickly smother beads in thick nacre coatings, farmers can use less-expensive, lower-grade, highly striated bead nuclei whose blemishes are sure to be hidden. The end-result: luxe looks for much less money.
So get ready for bleached and natural-color bead-nucleated freshwater pearls with a roundness new to this variety. And when that happens, get ready for China to receive the full esteem it has long sought as a pearl producer.
More info @ http://archives.modernjeweler.com/publication/article.jsp?pubId=1&id=95
Let's do some role-playing. You're a pearl dealer visiting Hong Kong. You've just been shown some eye-popping white baroque pearls that you would swear come from Australia. Hey, they've got the size, the shape, and the sheen.
The seller smiles. He knows what you're thinking. Then he tells you the price, which is a fraction of that quoted for bona fide South Sea baroque strands. You have a sudden moment of cognitive dissonance as you puzzle over the cost of these pearls. But just before you hear the price explained, you guess their true origin. It's China. How is this possible, you wonder. Are you sitting down?
They're bead-nucleated. You heard right: These pearls were grown in freshwater mussels implanted with 7 to 9mm balls of shell, along with pieces of mantle tissue, and then put in the water for two years while a cultured pearl grew. Now you're really confused. Aren't bead-nucleated pearls supposed to be round? Why are these misshapen?
So far, no one knows for sure. Fuji Voll of Pacific Pearls, Mill Valley, California, who has been predicting breakthrough pearls like these for some time, thinks farmers may be trying to avoid the high cost of training workers to be accomplished nucleators. So, instead of placing beads in the body of the mussel, they tuck nuclei just under the shell in easy-to-reach mantle area. There, unfortunately, beads can't keep pearls from going haywire.
Of course, few are complaining just yet about the failure to produce rounds because baroques are among the most popular pearls these days. At first glance, these first-ever top Chinese bead-nucleated freshwater baroque strands, especially if white, look like they come from the South Seas. In fact, the best of these freshwater baroques are being strung with their South Sea counterparts to make mixed-breed strands selling for $3,000 to $6,000. Available in 18 by 12 and 17 by 11mm sizes for under $200 per strand, the new Chinese baroques are easy to retail at three and four times their wholesale prices—and still remain bargains.
As you look closer and longer at these Chinese newcomers, you notice something distinctive about them that makes it easy to distinguish them from their South Sea counterparts. It's the wing-like protrusions, which have earned these new-breed baroques the name of "fireball pearls" among some Chinese farmers and dealers.
The name makes perfect—albeit provisional—sense because "fireball" pearls usually have meteor-like shapes. Turn back to Tino Hammid's photograph and you'll see pearls with round bellies and trailing wings that could be likened to flames.
Eventually, farmers hope, the wing tips will disappear the way tadpole tails disappear. And then so will the name "fireball." For, voila, then you will have perfect spheres. No wonder dealers like Voll are watching these pearls with keen anticipation.
TO BEAD OR NOT TO BEAD
A decade ago, China astounded the world with peach and lilac colored semi-round freshwater pearls nucleated only with mantle tissue. Even today, fine 10 and 11mm strands of these glories command thousands of dollars. But they remain exceptions to the rule.
Over time, people skeptical about these near-round pearls began to speculate that they were secretly nucleated with reject pearls to shape them and create all-nacre uni-bodies. But gemologists disproved this theory by x-raying thousands of pearls and finding no evidence of pearl-nucleation.
Now just when the gemological world has grown used to thinking of fine Chinese freshwater pearls as all-nacre, and some dealers lobby for them to be classified as "non-nucleated," Chinese aquaculture has taken a weird turn to nucleation. What gives?
It's the economy, silly. Or so say regular travelers to China like Voll and Jeremy Shepherd, who runs a kind of Blue Nile for pearls called Pearl Paradise.com based in Santa Monica, California. Shepherd, who visits Chinese pearl farms 12 times a year, says that "bead-nucleation cuts pearl growing times in half, allows production of larger sizes, and will one day result in perfect rounds."
Isn't that a return to the akoya aesthetic? Yes, he answers, but with lots of dividends. For whom? For China and for people who dream of owning pearls that look like they came from the South Seas—at a fraction of the price. Well, maybe not a fraction, but at considerably below South Sea norms. "The Chinese are becoming very good businessmen," Shepherd says.
"They are not going to give these pearls away once they have perfected them. But since production costs are far less than they are in Australia, they can sell their pearls at high prices which are still considerably less than those from the South Seas."
How soon, if ever, will we see such pearls? Voll thinks that we will see lovely 15-plus mm pearls by 2010. Shepherd predicts sizes as mammoth as 20mm by then.
True to South Sea standards, nacre thickness of the new bead-nucleated freshwater pearls will be at least 2mm. Moreover, since these pearls come from mussels that are six to ten times larger than akoya oysters, nuclei can be much larger. In addition, since the freshwater mollusks quickly smother beads in thick nacre coatings, farmers can use less-expensive, lower-grade, highly striated bead nuclei whose blemishes are sure to be hidden. The end-result: luxe looks for much less money.
So get ready for bleached and natural-color bead-nucleated freshwater pearls with a roundness new to this variety. And when that happens, get ready for China to receive the full esteem it has long sought as a pearl producer.
More info @ http://archives.modernjeweler.com/publication/article.jsp?pubId=1&id=95
Lea Stein Jewelry
Jude Clarke writes:
Lea Stein is a name synonymous with collectable celluloid jewelry and yet very little is known about this lady whose distinctive fashion accessories have become a collecting craze.
According to Ginger Moro in her classic book on ' European Costume Jewelry', Lea Stein and her husband Fernand Steinberger began producing their unique celluloid brooches, rings and bracelets back in the 1950s in Paris.
Many sources of information persist in the wrongly held belief that the jewelry was designed in the 1930s; it was not, although of course many of the earlier pieces borrow from elegant Art Deco imagery. Lea contributed the artistic designs and Fernand the complicated and time-consuming techniques of ' sandwiching' layers of fabric and laminating sheets of plastic together.Animals figure prominently as designs for the many oversize brooches; panthers, tortoises, owls, cats and insects are all very popular as is the three- tiered fox with curvaceous tail and slanty eyes available in many color variations.
Later editions reflect more contemporary themes, such as skateboarders, a girl with a hoop and cartoon-like characters. Price variations for pieces of Lea Stein jewelry can be quite enormous and arbitrary, so it really does pay to shop around both on the Internet and in shops and at antiques fairs (most pieces are priced by dealers at around $100 each). A fox pin (variations of the fox are among the most common) available for $285 on one site on the Internet can easily be found for about $70 or sometimes even less.
Production ceased in 1980 but in 1991 Lea Stein issued "Second Editions" of some of the brooches. Apparently one of the ways to distinguish between them is that the "Second Editions" have the pin riveted to the back of the piece rather than heat-fused as in the earlier examples. Whilst there is still confusion over dates and different 'editions' of the items it's best to check with the seller for further details. There was talk, a few years ago, of a book coming out on Lea Stein jewelry. If so, it's very eagerly awaited by the many collectors of Lea Stein jewelry around the world. Their distinctive size (many of the brooches are between 6 – 8 cms long) and design guarantees any collector and wearer to stand out in the crowd.
More info @ www.collectorcafe.com
Lea Stein is a name synonymous with collectable celluloid jewelry and yet very little is known about this lady whose distinctive fashion accessories have become a collecting craze.
According to Ginger Moro in her classic book on ' European Costume Jewelry', Lea Stein and her husband Fernand Steinberger began producing their unique celluloid brooches, rings and bracelets back in the 1950s in Paris.
Many sources of information persist in the wrongly held belief that the jewelry was designed in the 1930s; it was not, although of course many of the earlier pieces borrow from elegant Art Deco imagery. Lea contributed the artistic designs and Fernand the complicated and time-consuming techniques of ' sandwiching' layers of fabric and laminating sheets of plastic together.Animals figure prominently as designs for the many oversize brooches; panthers, tortoises, owls, cats and insects are all very popular as is the three- tiered fox with curvaceous tail and slanty eyes available in many color variations.
Later editions reflect more contemporary themes, such as skateboarders, a girl with a hoop and cartoon-like characters. Price variations for pieces of Lea Stein jewelry can be quite enormous and arbitrary, so it really does pay to shop around both on the Internet and in shops and at antiques fairs (most pieces are priced by dealers at around $100 each). A fox pin (variations of the fox are among the most common) available for $285 on one site on the Internet can easily be found for about $70 or sometimes even less.
Production ceased in 1980 but in 1991 Lea Stein issued "Second Editions" of some of the brooches. Apparently one of the ways to distinguish between them is that the "Second Editions" have the pin riveted to the back of the piece rather than heat-fused as in the earlier examples. Whilst there is still confusion over dates and different 'editions' of the items it's best to check with the seller for further details. There was talk, a few years ago, of a book coming out on Lea Stein jewelry. If so, it's very eagerly awaited by the many collectors of Lea Stein jewelry around the world. Their distinctive size (many of the brooches are between 6 – 8 cms long) and design guarantees any collector and wearer to stand out in the crowd.
More info @ www.collectorcafe.com
Treasures In A Costume Jewelry Box
Deborah Ramey Jennings writes:
I suppose I can trace my first interest in costume jewelry back to a time as a young girl when I would sneak into my mother's bedroom and delve into the drawers in her dresser. In one particular drawer there dwelt a fascinating hodgepodge assortment of boxes of different shapes and sizes. Tiny fingers explored these small white boxes which all contained glorious treasures - my mother's costume jewelry. Although there were many types of decorative pieces sheltered there, I was almost invariably drawn to one particular silver-colored rhinestone necklace. Shaped much like an inverted tiara, I often laid the necklace on top of my head in a crown-like manner with visions of being a princess. This style was originally popular during the late 1940s and 1950s and I believed this necklace was the most glorious shining trinket ever beheld.
So, it was only logical as I developed an interest in costume jewelry, that the first pieces I would collect would be similar or complementary to this necklace. Incidentally, fashion designer Coco Chanel most likely coined the phrase "costume jewelry." According to author Nancy N. Schiffer, in her book titled Costume Jewelry - The Fun of Collecting, in the early years costume jewelry was called "fashioned jewelry," which might be more accurate. The term was used to describe all jewelry which did not use precious materials such as genuine stones and karat gold, silver or platinum in their manufacture. Shiffer mentions another theory pertaining to the great Florence Ziegfield who wanted jewelry to match the motifs of his costumes, and used the term costume jewelry whenever he referred to the jewelry of his Follies.
Whatever the derivation, I began to scour antique and junk stores for pieces of costume jewelry. I eventually amassed an interesting conglomeration of bracelets, earrings, pins and other baubles in various designs and configurations, some gaudy, others more traditional and all highly treasured. Somewhere along the way, my interest switched lanes and I found myself drawn to pieces that featured the combination of black stones with clear rhinestones. This would eventually segue into a fascination with solid black jewelry pieces. Perhaps it was due to my already obvious preference to wearing predominantly black clothing. It's hard to discern my original motivation. But, personally, I believe the more singular direction evolved simply because I found the all-black pieces stunning and quietly elegant. All quite logical when you consider that most of these pieces were considered "mourning jewelry."
Black jewelry appears in various forms; real or imitation jet, ebony or bog oak, made popular during Queen Victoria's period of mourning upon the death of her beloved husband Albert, the Prince Consort. According to the collectibles manual, Answers to Questions About Old Jewelry: 1840-1950, by Jeanne Bell, Albert's unexpected death left the English subjects shocked and grieved and Queen Victoria herself would mourn until her own death in 1901. Therefore, the entire nation went into mourning. A period of two years was customarily considered to be the time "in mourning." During the first year, only black was worn as a show of respect and grief. This, according to Bell was a time of full mourning and elaborate regulations as to appropriate dress for each relative of the departed was followed.
The second year was a little more lenient and referred to as half-mourning and the bereaved was allowed a few items that were not black such as an amethyst pin. Still, for all intents and purposes, the jewelry and dress were black. An all-black ensemble does present a very dramatic impression. Who doesn't recall the startling beauty of Vivien Leigh as Scarlett O'Hara decked out in her stunning mourning out outfit in the movie Gone with the Wind? Consequently, "jet" became the solution to the question of what jewelry to consistently wear while bereaved.
Bell defines jet as a hard, coal-like material made from fossilized wood. The finest jet was mined in the town of Whitby, England, where the industry began in the early 19th century. The properties of true jet lent itself well to jewelry design; easy to carve, able to keep a shaped edge, lightweight and inexpensive. Jet lockets, chains, beads and brooches were very popular in the 1860s and 1870s. Naturally, such success would breed imitators. Jewelry made from French Jet began to appear. For the record, French Jet is, in Bell's words, neither French nor jet - it is black glass, which was cheaper to manufacture. However, French Jet was heavier and was used mostly in the making of beads and smaller items.
Today, true jet is somewhat difficult to find and usually expensive. Consequently, the name "jet" is often applied to anything solid black - whether it is French Jet, onyx, black rhinestone, black glass or true jet. l's tips for distinguishing jet from black glass or onyx is by weight. "If you pick up a strand of beads and are immediately surprised by their light weight," she relates, "chances are they are jet. Jet also has sharp, precisely cut lines." As for me, I'm not a purist. While I have several pieces of true jet in my collection, I'm personally fascinated by the use and combinations of gorgeous black beads and shiny black rhinestones to achieve a rich, elegant effect. This fascination is in no way morbid, but quite consistent. Either that or, if you believe in reincarnation, in another life I must have been a widow - and a fairly well-dressed one at that - for a very long period of mourning.
Article courtesy of ‘The Collector News’ Magazine.
More info @ www.collectorcafe.com
I suppose I can trace my first interest in costume jewelry back to a time as a young girl when I would sneak into my mother's bedroom and delve into the drawers in her dresser. In one particular drawer there dwelt a fascinating hodgepodge assortment of boxes of different shapes and sizes. Tiny fingers explored these small white boxes which all contained glorious treasures - my mother's costume jewelry. Although there were many types of decorative pieces sheltered there, I was almost invariably drawn to one particular silver-colored rhinestone necklace. Shaped much like an inverted tiara, I often laid the necklace on top of my head in a crown-like manner with visions of being a princess. This style was originally popular during the late 1940s and 1950s and I believed this necklace was the most glorious shining trinket ever beheld.
So, it was only logical as I developed an interest in costume jewelry, that the first pieces I would collect would be similar or complementary to this necklace. Incidentally, fashion designer Coco Chanel most likely coined the phrase "costume jewelry." According to author Nancy N. Schiffer, in her book titled Costume Jewelry - The Fun of Collecting, in the early years costume jewelry was called "fashioned jewelry," which might be more accurate. The term was used to describe all jewelry which did not use precious materials such as genuine stones and karat gold, silver or platinum in their manufacture. Shiffer mentions another theory pertaining to the great Florence Ziegfield who wanted jewelry to match the motifs of his costumes, and used the term costume jewelry whenever he referred to the jewelry of his Follies.
Whatever the derivation, I began to scour antique and junk stores for pieces of costume jewelry. I eventually amassed an interesting conglomeration of bracelets, earrings, pins and other baubles in various designs and configurations, some gaudy, others more traditional and all highly treasured. Somewhere along the way, my interest switched lanes and I found myself drawn to pieces that featured the combination of black stones with clear rhinestones. This would eventually segue into a fascination with solid black jewelry pieces. Perhaps it was due to my already obvious preference to wearing predominantly black clothing. It's hard to discern my original motivation. But, personally, I believe the more singular direction evolved simply because I found the all-black pieces stunning and quietly elegant. All quite logical when you consider that most of these pieces were considered "mourning jewelry."
Black jewelry appears in various forms; real or imitation jet, ebony or bog oak, made popular during Queen Victoria's period of mourning upon the death of her beloved husband Albert, the Prince Consort. According to the collectibles manual, Answers to Questions About Old Jewelry: 1840-1950, by Jeanne Bell, Albert's unexpected death left the English subjects shocked and grieved and Queen Victoria herself would mourn until her own death in 1901. Therefore, the entire nation went into mourning. A period of two years was customarily considered to be the time "in mourning." During the first year, only black was worn as a show of respect and grief. This, according to Bell was a time of full mourning and elaborate regulations as to appropriate dress for each relative of the departed was followed.
The second year was a little more lenient and referred to as half-mourning and the bereaved was allowed a few items that were not black such as an amethyst pin. Still, for all intents and purposes, the jewelry and dress were black. An all-black ensemble does present a very dramatic impression. Who doesn't recall the startling beauty of Vivien Leigh as Scarlett O'Hara decked out in her stunning mourning out outfit in the movie Gone with the Wind? Consequently, "jet" became the solution to the question of what jewelry to consistently wear while bereaved.
Bell defines jet as a hard, coal-like material made from fossilized wood. The finest jet was mined in the town of Whitby, England, where the industry began in the early 19th century. The properties of true jet lent itself well to jewelry design; easy to carve, able to keep a shaped edge, lightweight and inexpensive. Jet lockets, chains, beads and brooches were very popular in the 1860s and 1870s. Naturally, such success would breed imitators. Jewelry made from French Jet began to appear. For the record, French Jet is, in Bell's words, neither French nor jet - it is black glass, which was cheaper to manufacture. However, French Jet was heavier and was used mostly in the making of beads and smaller items.
Today, true jet is somewhat difficult to find and usually expensive. Consequently, the name "jet" is often applied to anything solid black - whether it is French Jet, onyx, black rhinestone, black glass or true jet. l's tips for distinguishing jet from black glass or onyx is by weight. "If you pick up a strand of beads and are immediately surprised by their light weight," she relates, "chances are they are jet. Jet also has sharp, precisely cut lines." As for me, I'm not a purist. While I have several pieces of true jet in my collection, I'm personally fascinated by the use and combinations of gorgeous black beads and shiny black rhinestones to achieve a rich, elegant effect. This fascination is in no way morbid, but quite consistent. Either that or, if you believe in reincarnation, in another life I must have been a widow - and a fairly well-dressed one at that - for a very long period of mourning.
Article courtesy of ‘The Collector News’ Magazine.
More info @ www.collectorcafe.com
India Could Lose Duty-free Access To US
Economic Times writes:
The United States Trade Representative has identified six countries, including India, which could lose duty-free access to the American market in 2007 under a revamped trade programe signed into law by President George W Bush.
Brazil, India and Venezuela along with Thailand, the Philippines and the Ivory Coast could lose trade benefits because of recent changes Congress made to the US Generalized System of Preferences (GSP) program for developing countries, the chief American trade negotiator said.
Under the current revamped GSP programme, the administration can revoke waivers when one of two conditions have been met: import of a certain good from one country exceed an annual cap of about $187.5 million, or comprise 75 per cent of total US imports of that good.
According to USTR statistics, a preliminary assessment shows that India would lose duty-free access for gold jewellery and brass lamps. The country shipped $1.6 billion in gold jewellery and $20 million in brass lamps to the United States under the GSP program in the first 10 months of 2006.
And Brazil stands to lose duty free access for brake and brake parts, which totalled $242 million in January through October, and for ferrozirconium, which totalled $700,000; and Thailand also would lose duty-free access for gold jewellery, of which it shipped $611 million to the United States in first ten months of 2006. Bush signed the legislation that continued the Generalized System of Preferences (GSP) program for two years until December 31, 2008.
The GSP program has proven to be very successful in creating US trade with and development in developing countries. Congress provided new guidance to address product competitiveness when it extended the program. "We will ensure that the program adapts so that it continues to assist developing countries in becoming more active participants in the global trading system," USTR Susan Schwab said.
The expectation is that the USTR will issue a Federal register notice in February 2007 which will identify those waivers that meet either of the new thresholds and thus subject to potential revocation.
More info @ http://economictimes.indiatimes.com/India_could_lose_duty-free_access_to_US/articleshow/873139.cms
The United States Trade Representative has identified six countries, including India, which could lose duty-free access to the American market in 2007 under a revamped trade programe signed into law by President George W Bush.
Brazil, India and Venezuela along with Thailand, the Philippines and the Ivory Coast could lose trade benefits because of recent changes Congress made to the US Generalized System of Preferences (GSP) program for developing countries, the chief American trade negotiator said.
Under the current revamped GSP programme, the administration can revoke waivers when one of two conditions have been met: import of a certain good from one country exceed an annual cap of about $187.5 million, or comprise 75 per cent of total US imports of that good.
According to USTR statistics, a preliminary assessment shows that India would lose duty-free access for gold jewellery and brass lamps. The country shipped $1.6 billion in gold jewellery and $20 million in brass lamps to the United States under the GSP program in the first 10 months of 2006.
And Brazil stands to lose duty free access for brake and brake parts, which totalled $242 million in January through October, and for ferrozirconium, which totalled $700,000; and Thailand also would lose duty-free access for gold jewellery, of which it shipped $611 million to the United States in first ten months of 2006. Bush signed the legislation that continued the Generalized System of Preferences (GSP) program for two years until December 31, 2008.
The GSP program has proven to be very successful in creating US trade with and development in developing countries. Congress provided new guidance to address product competitiveness when it extended the program. "We will ensure that the program adapts so that it continues to assist developing countries in becoming more active participants in the global trading system," USTR Susan Schwab said.
The expectation is that the USTR will issue a Federal register notice in February 2007 which will identify those waivers that meet either of the new thresholds and thus subject to potential revocation.
More info @ http://economictimes.indiatimes.com/India_could_lose_duty-free_access_to_US/articleshow/873139.cms
Thursday, December 21, 2006
Film and Sheikh Jewelry
Julia Vorst writes:
Women’s dresses were long straight and slim-fitting in the 1920s, forming the perfect foil for very long necklaces. Earrings were often abandoned by the most fashionable, who favored emancipated bobbed hairstyles. Long strings of beads, ending in a tassel effect or a knot, were worn by rich and poor and have survived in some number, as they were made of every material, from lapis lazuli and diamonds to glass and forms of early plastic. The sautoir symbolized the 1920s and was sometimes made of a twisted rope of pearls, silk threads, ivory or paste. Sometimes silk-covered beads gave a more opulent effect, or wood, glass and ceramic might be mixed. At the top end of the market were complex designs, often with flat links set with diamonds centered with a pendant in a harmonized design. Relatively few diamond examples have survived, as many were shortened in the late 1930s and 50s as fashions changed
The popularity of everything Egyptian in the 1920s, following the discovery of the tomb of Tutenkamen, inspired quantities of green and black glass jewelry in imitation of jade, as well as imitation ivory and lapis lazuli. The film “The Sheikh” made Rudolph Valentino famous, inspiring harem pants, jeweled turbans and exotic jewelry, usually manufactured from cheap materials. Some sautoirs are surprisingly long and were presumably intended to be wound around the neck at least once. Glass versions are often found and can cost as little as $15 (£10). It is often the cheaper glass versions that have survived, as those of Murano (Venetian) glass were often re-strung into short necklaces in the 1950s.The illustrated sautoir of ceramic beads has a pendant head of Valentino. The strings of beads imitate lapis lazuli, ivory and gold. It has a dual appeal in being film related and an evocative period piece, though the basic materials are cheap. This type of jewelry varies considerably in price between fashionable and provincial sellers or those specializing in film related pieces. The average price for such a piece would be between $45 -$60 (£30 - £40).
More info @ www.collectorcafe.com
Women’s dresses were long straight and slim-fitting in the 1920s, forming the perfect foil for very long necklaces. Earrings were often abandoned by the most fashionable, who favored emancipated bobbed hairstyles. Long strings of beads, ending in a tassel effect or a knot, were worn by rich and poor and have survived in some number, as they were made of every material, from lapis lazuli and diamonds to glass and forms of early plastic. The sautoir symbolized the 1920s and was sometimes made of a twisted rope of pearls, silk threads, ivory or paste. Sometimes silk-covered beads gave a more opulent effect, or wood, glass and ceramic might be mixed. At the top end of the market were complex designs, often with flat links set with diamonds centered with a pendant in a harmonized design. Relatively few diamond examples have survived, as many were shortened in the late 1930s and 50s as fashions changed
The popularity of everything Egyptian in the 1920s, following the discovery of the tomb of Tutenkamen, inspired quantities of green and black glass jewelry in imitation of jade, as well as imitation ivory and lapis lazuli. The film “The Sheikh” made Rudolph Valentino famous, inspiring harem pants, jeweled turbans and exotic jewelry, usually manufactured from cheap materials. Some sautoirs are surprisingly long and were presumably intended to be wound around the neck at least once. Glass versions are often found and can cost as little as $15 (£10). It is often the cheaper glass versions that have survived, as those of Murano (Venetian) glass were often re-strung into short necklaces in the 1950s.The illustrated sautoir of ceramic beads has a pendant head of Valentino. The strings of beads imitate lapis lazuli, ivory and gold. It has a dual appeal in being film related and an evocative period piece, though the basic materials are cheap. This type of jewelry varies considerably in price between fashionable and provincial sellers or those specializing in film related pieces. The average price for such a piece would be between $45 -$60 (£30 - £40).
More info @ www.collectorcafe.com
Collecting Costume or Paste Jewelry
Mel Lewis writes:
Paste or costume jewelry can be confused with the real thing. But being fake doesn't betoken second best or even a cut price collectable. There is a respectable history to costume jewelry, which has tempted hallowed fashion names from this century, such as Chanel, Schiaparelli and Trifari, to try their hand. The craft of faking jewelry dates to the ancient Greeks and Romans, who adored glass beads that simulated gems. Rock crystals in the limestone at Clifton, Bristol, were made into 'diamonds', while Cornish tin mines yielded crystals with convincing sparkle and impressive adamantine qualities. But it took till the 1670s for George Ravenscroft to perfect flint glass hard and clear enough to really give diamonds a run for their money. Strasbourg jeweler George-Frederic Strass established himself in Paris from 1724 and went on to develop glass that could be facet cut, polished and colored vividly enough to rival the brilliancy and drama of genuine stones. Calibre cutting - shaping paste stones to fit a mount, a feat impossible with real gems - is another desirable feature of 18th century paste work. "A good Georgian suite can sell for thousands of pounds," says expert Sally Everitt, though basic early twentieth century work can be bought from £10 ($16). Fact: antique paste jewelry frequently sells alongside genuine gold, silver and gem set jewelry at auction!
Collectors in search of genuine Georgian pieces should look for a closed setting and an egg shape or rounded back. The stone was backed with silver or gold foil, to enhance the inferior light-reflecting properties of glass, as compared with diamond. Early - 18th century - paste was set in precious metal mounts. Some Victorian work features gold mounts, to prevent marking of skin and clothes, but thereafter base metal became the norm. However ... in WWII metals deemed essential to the war effort (for turning into guns and bullets) were banned from use in fripperies such as jewelry. Ironically, silver became the patriotically acceptable substitute.Base metal won't bend, so broken pieces, being unrepairable were usually junked. But silver-set paste can be reworked and is therefore still around in quantity. Most of these 1940s' silver pieces were made in the USA, are not hall marked, but do carry a "STERLING" stamp. This is no purist pursuit, however: even "bastardised" jewelry can make the grade with collectors - if the bowdlerised "bits" are merit worthy enough, and include, say, gem set butterfly, flower or leaf Art Nouveau design elements from belt buckles ... or broken-up shoe buckles from the Deco years (1922-30). The later may well contain genuine amethyst or aquamarine highlights, as an added bonus. Never assume that jewelry bought cheap, or with an unpromising pedigree, is paste. Real diamonds have a peculiar soapy texture. If you are unsure whether items is paste or real get a professional opinion.
More info @ www.collectorcafe.com
Paste or costume jewelry can be confused with the real thing. But being fake doesn't betoken second best or even a cut price collectable. There is a respectable history to costume jewelry, which has tempted hallowed fashion names from this century, such as Chanel, Schiaparelli and Trifari, to try their hand. The craft of faking jewelry dates to the ancient Greeks and Romans, who adored glass beads that simulated gems. Rock crystals in the limestone at Clifton, Bristol, were made into 'diamonds', while Cornish tin mines yielded crystals with convincing sparkle and impressive adamantine qualities. But it took till the 1670s for George Ravenscroft to perfect flint glass hard and clear enough to really give diamonds a run for their money. Strasbourg jeweler George-Frederic Strass established himself in Paris from 1724 and went on to develop glass that could be facet cut, polished and colored vividly enough to rival the brilliancy and drama of genuine stones. Calibre cutting - shaping paste stones to fit a mount, a feat impossible with real gems - is another desirable feature of 18th century paste work. "A good Georgian suite can sell for thousands of pounds," says expert Sally Everitt, though basic early twentieth century work can be bought from £10 ($16). Fact: antique paste jewelry frequently sells alongside genuine gold, silver and gem set jewelry at auction!
Collectors in search of genuine Georgian pieces should look for a closed setting and an egg shape or rounded back. The stone was backed with silver or gold foil, to enhance the inferior light-reflecting properties of glass, as compared with diamond. Early - 18th century - paste was set in precious metal mounts. Some Victorian work features gold mounts, to prevent marking of skin and clothes, but thereafter base metal became the norm. However ... in WWII metals deemed essential to the war effort (for turning into guns and bullets) were banned from use in fripperies such as jewelry. Ironically, silver became the patriotically acceptable substitute.Base metal won't bend, so broken pieces, being unrepairable were usually junked. But silver-set paste can be reworked and is therefore still around in quantity. Most of these 1940s' silver pieces were made in the USA, are not hall marked, but do carry a "STERLING" stamp. This is no purist pursuit, however: even "bastardised" jewelry can make the grade with collectors - if the bowdlerised "bits" are merit worthy enough, and include, say, gem set butterfly, flower or leaf Art Nouveau design elements from belt buckles ... or broken-up shoe buckles from the Deco years (1922-30). The later may well contain genuine amethyst or aquamarine highlights, as an added bonus. Never assume that jewelry bought cheap, or with an unpromising pedigree, is paste. Real diamonds have a peculiar soapy texture. If you are unsure whether items is paste or real get a professional opinion.
More info @ www.collectorcafe.com
Briza
Idexonline writes:
Diamond color enhancing firm Briza, recently unveiled their latest creation – pine colored diamonds – in Ramat Gan, Israel. The company enhances the color of natural diamonds using an electronic beam and high temperatures.
Briza enhance the color of a diamond, but to do so the diamond has to have specific color properties – the minerals that affect the diamonds color – in it to start with. “We are accelerating the natural process,” said Briza’s Lior and Shai Barak.
“If the diamond wasn’t mined, and the conditions, such as temperature, were right, in a few million years these colors would have appeared in the diamonds,” they said.
The company uses their technique to create 14 different colors including blue, green, yellow, gold, and black.
These fancy color diamonds are marked in EGL certificates as color enhanced. To further underline the process, the company inscribes the color hue names on the girdle.
More info @ http://www.idexonline.com/portal_FullMazalUbracha.asp?id=26587
Diamond color enhancing firm Briza, recently unveiled their latest creation – pine colored diamonds – in Ramat Gan, Israel. The company enhances the color of natural diamonds using an electronic beam and high temperatures.
Briza enhance the color of a diamond, but to do so the diamond has to have specific color properties – the minerals that affect the diamonds color – in it to start with. “We are accelerating the natural process,” said Briza’s Lior and Shai Barak.
“If the diamond wasn’t mined, and the conditions, such as temperature, were right, in a few million years these colors would have appeared in the diamonds,” they said.
The company uses their technique to create 14 different colors including blue, green, yellow, gold, and black.
These fancy color diamonds are marked in EGL certificates as color enhanced. To further underline the process, the company inscribes the color hue names on the girdle.
More info @ http://www.idexonline.com/portal_FullMazalUbracha.asp?id=26587
Best Business Books of 2006
Fast Company writes:
1. The Wal-Mart Effect by Charles Fishman
2. Company by Max Barry
3. Who Moved My Blackberry by Lucy Kellaway
4. Apex Hides The Hurt by Colson Whitehead
5. The Change Function by Pip Coburn
6. Management by Baseball by Jeff Angus
7. Alpha Male Syndrome by Kate Ludeman and Eddie Erlandson
8. The New American Workplace by James O’Toole and Edward E Lawler III
9. The Long Tail by Chris Anderson
10. Setting The Table by Danny Meyer
11. The Immortal Game by David Shenk
12. Purpose by Nikos Mourkogiannis
More info @ http://www.fastcompany.com
1. The Wal-Mart Effect by Charles Fishman
2. Company by Max Barry
3. Who Moved My Blackberry by Lucy Kellaway
4. Apex Hides The Hurt by Colson Whitehead
5. The Change Function by Pip Coburn
6. Management by Baseball by Jeff Angus
7. Alpha Male Syndrome by Kate Ludeman and Eddie Erlandson
8. The New American Workplace by James O’Toole and Edward E Lawler III
9. The Long Tail by Chris Anderson
10. Setting The Table by Danny Meyer
11. The Immortal Game by David Shenk
12. Purpose by Nikos Mourkogiannis
More info @ http://www.fastcompany.com
Trade Journals relating To Watch & Jewelry Industry
I found the following links educational + informative.
Diamond World
Diamonds & Gold of Russia
Europa Star
GM Watch
GMT Magazine
GZ
Heure Suisse/Schweiz
HKJE Magazine
Hong Kong Jewellery
hr:Watches
IDEX Magazine
Instore
InSync
International Watch (iW - Chinese Edition)
iW - International Watch
iW M.E. (International Watch Middle East)
Diamond World
Diamonds & Gold of Russia
Europa Star
GM Watch
GMT Magazine
GZ
Heure Suisse/Schweiz
HKJE Magazine
Hong Kong Jewellery
hr:Watches
IDEX Magazine
Instore
InSync
International Watch (iW - Chinese Edition)
iW - International Watch
iW M.E. (International Watch Middle East)
Tuesday, December 19, 2006
Diamond Prices
John Bowker writes:
Diamond prices are set to rise in 2007 as global supply falls significantly below demand, Firestone Diamonds Plc, Chief Executive Philip Kenny said on Monday.
Kenny told Reuters that an imbalance had been created by diminishing stock-piles at the world's biggest producer De Beers, coupled with a shortage of new mines coming on stream. That will mean that prices would have to rise next year, despite a softening of prices in 2006, he said. "There is a broad consensus that there will be a shortfall in supply (in 2007)," he said in a telephone interview. "In recent years the shortfall was made up by De Beers selling down stockpiles, but now they are just selling what they mine." He added that there were no major mines about to come into production, partly as it has been seen as a major challenge in recent years to build a mine able to make a decent return. "It's very difficult to find an economically viable diamond mine, and a lot of suitable locations are climatically or politically difficult places to work -- like Angola or Northern Russia," Kenny said.
More info @ http://today.reuters.com/news/articlenews.aspx?type=reutersEdge&storyID=2006-12-18T132510Z_01_L18741817_RTRUKOC_0_US-FIRESTONE-DIAMONDPRICES.xml&WTmodLoc=EntNewsTheatre_R3_reutersEdge-2
Diamond prices are set to rise in 2007 as global supply falls significantly below demand, Firestone Diamonds Plc, Chief Executive Philip Kenny said on Monday.
Kenny told Reuters that an imbalance had been created by diminishing stock-piles at the world's biggest producer De Beers, coupled with a shortage of new mines coming on stream. That will mean that prices would have to rise next year, despite a softening of prices in 2006, he said. "There is a broad consensus that there will be a shortfall in supply (in 2007)," he said in a telephone interview. "In recent years the shortfall was made up by De Beers selling down stockpiles, but now they are just selling what they mine." He added that there were no major mines about to come into production, partly as it has been seen as a major challenge in recent years to build a mine able to make a decent return. "It's very difficult to find an economically viable diamond mine, and a lot of suitable locations are climatically or politically difficult places to work -- like Angola or Northern Russia," Kenny said.
More info @ http://today.reuters.com/news/articlenews.aspx?type=reutersEdge&storyID=2006-12-18T132510Z_01_L18741817_RTRUKOC_0_US-FIRESTONE-DIAMONDPRICES.xml&WTmodLoc=EntNewsTheatre_R3_reutersEdge-2
Global Jewelry Sales
National Jeweler Network writes:
Worldwide jewelry sales will grow 4.6 percent per year to reach $185 billion in 2010 and $230 billion in 2015, according to a new report by the Gem and Jewellery Export Promotion Council of India and KPMG.
"The Global Gems and Jewellery Industry: Vision 2015: Transforming for Growth" finds that gold and diamond jewelry will continue to dominate the industry, with about 82 percent of the market, and that palladium will grow in importance. Diamonds will represent the slowest growing segment of the industry, with a compound annual growth rate of about 3.3 percent.
The report also finds that India and China together will emerge as a market equivalent to the U.S. market by 2015. Further, India's share of the diamond-processing industry will drop from 57 percent today to around 49 percent in 2015, while China will control 21.3 percent of the diamond-processing industry by that time.
Jewelry as an industry will lag behind other luxury goods categories such as watches, perfume and apparel, the report states.In addition, to reach its potential, the jewelry industry must concentrate on the growing demand for jewelry and strengthen industry-level and enterprise-level capabilities within the next year and a half.
"Transformation is necessary for growth," Neelesh Hundekari, director of advisory services for KPMG India, said in a statement. "The industry has the potential to successfully compete against the luxury goods industry and preserve its traditional domination of the consumer's discretionary spend. The industry needs to defend jewelry as a category and explore newer markets, while professionalizing family businesses."
More info @ http://www.nationaljewelernetwork.com/njn/content_display/independent/e3i631d13dcd8dc0bc4fe4cc6a082e13b15
Worldwide jewelry sales will grow 4.6 percent per year to reach $185 billion in 2010 and $230 billion in 2015, according to a new report by the Gem and Jewellery Export Promotion Council of India and KPMG.
"The Global Gems and Jewellery Industry: Vision 2015: Transforming for Growth" finds that gold and diamond jewelry will continue to dominate the industry, with about 82 percent of the market, and that palladium will grow in importance. Diamonds will represent the slowest growing segment of the industry, with a compound annual growth rate of about 3.3 percent.
The report also finds that India and China together will emerge as a market equivalent to the U.S. market by 2015. Further, India's share of the diamond-processing industry will drop from 57 percent today to around 49 percent in 2015, while China will control 21.3 percent of the diamond-processing industry by that time.
Jewelry as an industry will lag behind other luxury goods categories such as watches, perfume and apparel, the report states.In addition, to reach its potential, the jewelry industry must concentrate on the growing demand for jewelry and strengthen industry-level and enterprise-level capabilities within the next year and a half.
"Transformation is necessary for growth," Neelesh Hundekari, director of advisory services for KPMG India, said in a statement. "The industry has the potential to successfully compete against the luxury goods industry and preserve its traditional domination of the consumer's discretionary spend. The industry needs to defend jewelry as a category and explore newer markets, while professionalizing family businesses."
More info @ http://www.nationaljewelernetwork.com/njn/content_display/independent/e3i631d13dcd8dc0bc4fe4cc6a082e13b15
Romancing The Stone: Precious Tips
Holly Hubbard Preston ( International Herald Tribune ) writes:
Investors thinking about parking part of their portfolio in gemstones will spend as much time doing due diligence as they would for any other asset category, maybe even more.
That is the opinion of former securities executive turned avid gem collector. The collector, who requested anonymity, readily admitted to spending two years doing research before eh could work up the courage to make his first major purchase, a $75000 stone. His portfolio is now valued at more than $1 million.
Gemstones are a complicated investment play. With that in mind, Lisa Hubbard, executive director for international jewelry sales at Sotheby’s, offered this emphatic advice to would-be gemstone investors: ‘If you are talking about investing, you have no business dealing in anything other than the best level that you can afford.’
Even the most beautiful Thai rubies, for example will generally not command the per-carat price at auction that a much rarer Burma ruby will. The same goes for an African emerald compared with one from Colombia, consistently the source of the world’s finest emeralds. Even within those guidelines, identifying the best can be an immense challenge.
Color, particularly natural color, is the key. According to Antoinette Matlins, a gemologist in Vermont, natural colored gemstones and natural fancy-colored diamonds are ‘most prized’ among collectors and offer the best long-term values. Matlins estimated that natural, untreated colored gems are worth 10 percent to 20 percent more than precious stones that have been treated or whose color has otherwise been enhanced.
That differential, she added, is ‘nowhere near’ what she thinks it will be in another five to ten years. Since the 1960s, Matlins said, the gem trade has been trying to keep up with demand for precious stones by taking lesser gems and exposing them to heat and other treatments that would brighten or even change their color while removing inclusions that affect clarity. Until about five years ago, she said, these treatments often were not disclosed. With attention and demand shifting to natural or untreated colored stones, Matlins said, it is more important than ever to have a stone thoroughly evaluated before making a purchase.
Cap Beesley, president of American Gemological Laboratory in New York, said that more often that not, clients come to him for evaluations after they have parted with their money, sometimes more of it than they should have. He advises would-be investors to always ask to have a stone sent to a lab of their choice before making a purchase. If the dealer or supplier balks at this, Beesley said, a buyer should suspect the quality of the stone. The cost of lab evaluations at American Gemological ranges from $75 for a basic identification to $185 for a full grading report.
An example of a detailed, color-grading report can be found in The Gemstone Forecaster, an online gemstone trade journal that is published by Robert Genis (http://www.preciousgemstones.com/). A sample report from Beesley’s lab, with an explanation of how to decipher it, is featured on the site.
But whether you should buy gemstones at all depends on how you perceive their value, said Denny Cummings, a wealthy management adviser at Merrill Lynch in Chicago. ‘You first have to determine what you hope to achieve by investing in gemstones,’ he said. ‘Enjoyment of owning the stones should be a significant part of your motivation, since they don’t provide current income and may or may not enjoy price appreciation.’
‘Even if they do appreciate, the spread between the bid and ask price is often a problem,’ he said.
‘Unlike stocks, where you have an efficient high-volume market where the spread is rather narrow, the spread can be much wider with hard assets like gemstones.’ Given these dynamics, he warned, someone buying gemstones as a hedge against inflation could end up buying high and being forced to sell low.
More info @ http://www.iht.com
Investors thinking about parking part of their portfolio in gemstones will spend as much time doing due diligence as they would for any other asset category, maybe even more.
That is the opinion of former securities executive turned avid gem collector. The collector, who requested anonymity, readily admitted to spending two years doing research before eh could work up the courage to make his first major purchase, a $75000 stone. His portfolio is now valued at more than $1 million.
Gemstones are a complicated investment play. With that in mind, Lisa Hubbard, executive director for international jewelry sales at Sotheby’s, offered this emphatic advice to would-be gemstone investors: ‘If you are talking about investing, you have no business dealing in anything other than the best level that you can afford.’
Even the most beautiful Thai rubies, for example will generally not command the per-carat price at auction that a much rarer Burma ruby will. The same goes for an African emerald compared with one from Colombia, consistently the source of the world’s finest emeralds. Even within those guidelines, identifying the best can be an immense challenge.
Color, particularly natural color, is the key. According to Antoinette Matlins, a gemologist in Vermont, natural colored gemstones and natural fancy-colored diamonds are ‘most prized’ among collectors and offer the best long-term values. Matlins estimated that natural, untreated colored gems are worth 10 percent to 20 percent more than precious stones that have been treated or whose color has otherwise been enhanced.
That differential, she added, is ‘nowhere near’ what she thinks it will be in another five to ten years. Since the 1960s, Matlins said, the gem trade has been trying to keep up with demand for precious stones by taking lesser gems and exposing them to heat and other treatments that would brighten or even change their color while removing inclusions that affect clarity. Until about five years ago, she said, these treatments often were not disclosed. With attention and demand shifting to natural or untreated colored stones, Matlins said, it is more important than ever to have a stone thoroughly evaluated before making a purchase.
Cap Beesley, president of American Gemological Laboratory in New York, said that more often that not, clients come to him for evaluations after they have parted with their money, sometimes more of it than they should have. He advises would-be investors to always ask to have a stone sent to a lab of their choice before making a purchase. If the dealer or supplier balks at this, Beesley said, a buyer should suspect the quality of the stone. The cost of lab evaluations at American Gemological ranges from $75 for a basic identification to $185 for a full grading report.
An example of a detailed, color-grading report can be found in The Gemstone Forecaster, an online gemstone trade journal that is published by Robert Genis (http://www.preciousgemstones.com/). A sample report from Beesley’s lab, with an explanation of how to decipher it, is featured on the site.
But whether you should buy gemstones at all depends on how you perceive their value, said Denny Cummings, a wealthy management adviser at Merrill Lynch in Chicago. ‘You first have to determine what you hope to achieve by investing in gemstones,’ he said. ‘Enjoyment of owning the stones should be a significant part of your motivation, since they don’t provide current income and may or may not enjoy price appreciation.’
‘Even if they do appreciate, the spread between the bid and ask price is often a problem,’ he said.
‘Unlike stocks, where you have an efficient high-volume market where the spread is rather narrow, the spread can be much wider with hard assets like gemstones.’ Given these dynamics, he warned, someone buying gemstones as a hedge against inflation could end up buying high and being forced to sell low.
More info @ http://www.iht.com
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