09282016Wed
Last updateTue, 20 Sep 2016 11pm
Steve Silver - setting the ‘Gold Standard’ in appraisals

Steve Silver - setting the ‘Gold Standard’ in appraisals

Appraising jewelry – it’s about more than gemology...

The partnership that produced a golden egg

The partnership that produced a golden egg

Based on a mutual respect and appreciation for eac...

TJA examines gemstone treatments at Annual Conference

TJA examines gemstone treatments at Annual Conference

The Tennessee Jewelers Association (TJA) hosted it...

Kentucky Jeweler identifies credit card scam

Kentucky Jeweler identifies credit card scam

One occurrence is an anomaly. Two instances of a p...

24K Club SEUS honors Mark & Rhonda Jacobson with 2016 Jeweler of the Year Award

24K Club SEUS honors Mark & Rhonda Jacobson with 2016 Jeweler of the Year Award

(SMYRNA, Ga.) - Mark and Rhonda Jacobson, owners of...

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Tracking gold’s ups and downs

Tracking gold’s ups and downs

King Midas lusted after it. The Incas worshipped it. Shiny flakes of it set off a 19th-century rush to California and ship captains never stop looking for it at the bottom of the sea. While gold has ignited passions for centuries, for today’s investo...

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Industry Events

Join ISG on a diamond mining field trip to Crater of Diamonds State Park

Join ISG on a diamond mining field trip to Crater of Diamonds State Park

The International School of Gemology (ISG) has announced a field trip to the Crater of Diamonds State Park in Murfreesboro, Arkansas. This is a great opportunity to visit a real diamond mine and share knowledge and fun with ISG Global Network members...

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On The Move

Jeff Sadowsky named President of Global Fine Jewels

Jeff Sadowsky named President of Global Fine Jewels

Global Fine Jewels (GFJ), a division of world dia­mond trade leader Jay Gems, is pleased to announce the appointment of Jeff Sadowsky as its new President. Sadowsky, a 48-year veteran of the jewelry industry, previously worked as Director of Acquisit...

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What's New

ELLE Time & Jewelry unveils Essence 2.0

ELLE Time & Jewelry unveils Essence 2.0

(DALLAS) - ELLE Time & Jewelry is excited to announce the release of Essence 2.0, the much requested extension to their best-selling Essence collection. 2.0 includes a fresh twist on the two stone trend by combining cushion cut and round cut spark...

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Featured Articles

Retailer Roundtable: What do you expect to be your holiday hot sellers?

Retailer Roundtable: What do you expect to be your holiday hot sellers?

Q:  What do you expect to be your holiday hot sellers?

“Two-stone rings haven’t performed real well for us, despite marketing the whiz out of it. Each holiday season we do very well with bridal. This year I’ve invested in Fire Polish to help increase ...

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Latest News

Tracking gold’s ups and downs

6 DAYS AGO
Tracking gold’s ups and downs

King Midas lusted after it. The Incas worshipped it. Shiny flakes of it set off a 19th-century rush to California and ship captains never stop looking for it at the bottom of the sea. While gold has ignited passions for centuries, for today’s investors, it seems, the metal has lost its allure. After...

Readmore

De Beers: Millennials spent over $25 Billion on diamond jewelry in 2015

6 DAYS AGO
De Beers: Millennials spent over $25 Billion on diamond jewelry in 2015

(IDEX Online) – Millennials spent more than $25 billion on diamond jewelry in 2015 in the four largest consumer markets, acquiring more than any other generational group, according to De Beers' Diamond Insight Report 2016.

Despite Millennials (those aged 15-34 in 2015) facing more financial challenge...

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Join ISG on a diamond mining field trip to Crater of Diamonds State Park

12 DAYS AGO
Join ISG on a diamond mining field trip to Crater of Diamonds State Park

The International School of Gemology (ISG) has announced a field trip to the Crater of Diamonds State Park in Murfreesboro, Arkansas. This is a great opportunity to visit a real diamond mine and share knowledge and fun with ISG Global Network members, and those thinking about joining.

Readmore

JIS teams with Texas Jewelers Association to offer free trip to JIS Miami Show October 2016

12 DAYS AGO
JIS teams with Texas Jewelers Association to offer free trip to JIS Miami Show October 2016

Winner of trip for 2 to October Show will be announced at TJA Convention Sept. 25 th

 

(AUSTIN, Tex.) - There is no other selection of shows like that of Jewelers International Showcase (JIS), and one lucky attendee of the Texas Jewelers Association (TJA) 2016 Convention has the chance to win a trip for...

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Jeff Sadowsky named President of Global Fine Jewels

6 DAYS AGO
Jeff Sadowsky named President of Global Fine Jewels

Global Fine Jewels (GFJ), a division of world dia­mond trade leader Jay Gems, is pleased to announce the appointment of Jeff Sadowsky as its new President. Sadowsky, a 48-year veteran of the jewelry industry, previously worked as Director of Acquisitions at GBC, Inc., and most recently as Vice Presi...

Readmore

Quality Gold acquires North American Jewelers, Inc.

12 DAYS AGO

(FAIRFIELD, Ohio) - Quality Gold has purchased North American Jewelers, Inc. (NAJ) the Chicago based supplier known for bridal and special occasion diamond jewelry. Along with NAJ, Quality Gold now owns Steckbeck Jewelry PVT LTD (STJPL), its wholly owned subsidiary and manufacturing facility opened i...

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ELLE Time & Jewelry unveils Essence 2.0

6 DAYS AGO
ELLE Time & Jewelry unveils Essence 2.0

(DALLAS) - ELLE Time & Jewelry is excited to announce the release of Essence 2.0, the much requested extension to their best-selling Essence collection. 2.0 includes a fresh twist on the two stone trend by combining cushion cut and round cut sparkling CZs in one design. Retail prices range from $...

Readmore

Stuller releases new 1,000-page mountings catalog

6 DAYS AGO
Stuller releases new 1,000-page mountings catalog

New styles, easy navigation, and more product detail than ever

(LAFAYETTE, La.) - Continuing to improve upon its 46-year foundation, Stuller, Inc. is excited to announce the release of its newest catalog, Mountings 2017-2018, just in time for the holiday season.

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Selling wholesale may not be wholesome

It has become commonplace to buy in bulk here in America.  Wholesale clubs like Sam's Club and Costco are popping up all over the landscape and consumers are readily stuffing over-sized boxes of Cheerios and 5-gallon drums of mayonnaise into their massive buggies all in search of bargain prices.

 

Paying retail is simply passé.  Why would anyone agree to pay the MSRP when you can get more for less at a store that sells bulk volumes at bargain prices?  It's a craze that the jewelry industry is not immune to and it has many jewelers offering their wares at "wholesale" prices and customers looking for bigger, better, bargains on their baguettes.  And while it is understandable that retail jewelers would look for an edge to make their store and their prices more appealing to customers, most don't realize that selling "wholesale" is illegal in many states.

Suzan Flamm is an attorney with the Jewelers Vigilance Committee (JVC) in New York.  She served as a prosecutor in the Manhattan District Attorney's office and in private practice before joining JVC in January of this year.  Now she, along with JVC, serve to help the industry cope with the ever-evolving political and legal landscape on which it finds itself operating.

It can be terribly difficult for independent jewelers to stay abreast of the continually changing statutes that are passed into law.  JVC, a non-profit organization, has made it their purpose to stay up-to-date with new legislation and then pass on to their members what that legislation means for how they run their business each day.

 

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Suzan says that one of the places they see the most problems is with retail jewelers who advertise "wholesale" pricing on their merchandise.  She says that many jewelers who advertise "wholesale" pricing have no idea that what they are doing is illegal.

A brochure published by JVC for jewelry shoppers states: "Many states... have strict laws prohibiting the use of the word wholesale in retail advertisements.  In some states this is a criminal offense, due to the word's ability to mislead consumers.  If a jeweler advertises as selling at wholesale prices, they must sell at the wholesale price."

In short, JVC is trying to educate both jewelers and their customers to the legalities of selling to end-user customers.  And this is just one area in which JVC is trying to empower jewelers.  In addition to helping jewelers be compliant with new legislation and rulings, JVC can also serve as a mediator in disputes that arise within the industry.

Whether it is instruction on sales ethics, anti-money laundering compliance, mediation between feuding jewelers or educational materials for customers, JVC can provide tremendous support for independent jewelers.  The Jewelers Vigilance Committee can be reached at 212-997-2002 or found at www.jvclegal.org.

 


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