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Last updateThu, 29 Sep 2016 11pm
The partnership that produced a golden egg

The partnership that produced a golden egg

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

Preferred Jewelers International Network hosts Jewelry Spa Weekend

Preferred Jewelers International Network hosts Jewelry Spa Weekend

Preferred Jewelers International, the prestigious ...

Adventure awaits you in Cleveland with Bluestone Trading Co.

Adventure awaits you in Cleveland with Bluestone Trading Co.

Looking for adventure in Cleveland, Ohio? Blueston...

Overnight’s Retailer Survival Guide for the changing market

Overnight’s Retailer Survival Guide for the changing market

We’ve all seen the statistics on the changing jewe...

GRS Tools develops innovative ring holding fixture

GRS Tools develops innovative ring holding fixture

(EMPORIA, Kan.) - GRS Tools is pleased to announce ...

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Woman receives mystery Rolex in the mail

Woman receives mystery Rolex in the mail

SAN FRANCISCO (KPIX 5) — It came out of the blue, a Bay Area woman gets a Rolex watch in the mail.

The woman, Marie, thought it was strange that she had a package waiting for her at the post office. She said it was from an unknown sender. Then she ope...

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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

Montesino International Cyber Show to showcase new products

Montesino International reports the last decade has been full of successful, interesting and challenging business as well as the fact that customer spending habits have changed dramatically over the period of 2008 to the present. “As a whole…the indu...

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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

NAJA offering a unique scholarship opportunity for gemology students

17 HOURS AGO
NAJA offering a unique scholarship opportunity for gemology students

The National Association of Jewelry Appraisers (NAJA) is pleased to announce that it will award an ACE© It Appraisal Conference Scholarship to a deserving gemology student. NAJA invites GIA, FGA, FGAA, FGG, FCGmA, RGA students to apply for this scholarship for the 447th Annual ACE© It Winter Educati...

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Woman receives mystery Rolex in the mail

2 DAYS AGO
Woman receives mystery Rolex in the mail

SAN FRANCISCO (KPIX 5) — It came out of the blue, a Bay Area woman gets a Rolex watch in the mail.

The woman, Marie, thought it was strange that she had a package waiting for her at the post office. She said it was from an unknown sender. Then she opened it up and things got stranger.

Inside, a Rolex ...

Readmore

Preferred Jewelers International Network hosts Jewelry Spa Weekend

17 HOURS AGO
Preferred Jewelers International Network hosts Jewelry Spa Weekend

Preferred Jewelers International, the prestigious network of retail jewelers that offer a Lifetime, Nationwide Warranty program and “Experiences that last a Lifetime™” celebrated the successful promotion of Jewelry Spa Weekend throughout its organization in September.

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

15 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

Jeff Sadowsky named President of Global Fine Jewels

9 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.

15 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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Montesino International Cyber Show to showcase new products

15 HOURS AGO

Montesino International reports the last decade has been full of successful, interesting and challenging business as well as the fact that customer spending habits have changed dramatically over the period of 2008 to the present. “As a whole…the industry has experienced some of the same issues we ha...

Readmore

GRS Tools develops innovative ring holding fixture

15 HOURS AGO
GRS Tools develops innovative ring holding fixture

(EMPORIA, Kan.) - GRS Tools is pleased to announce the release of the Alexandre Sidorov Ring Fixture. Sidorov is a world-renowned diamond setter. This luxury set is produced using his exact design specifications and GRS quality manufacturing.

The Alexandre Sidorov Ring Fixture is the result of decades...

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Letters to Chuck

Thanks for the good news!

You're hired! The news has to find a negative spin to play up, apparently good news doesn't sell (take the 24/7 coverage of the latest hurricane non-event here in Miami). I'm glad to see someone covering the fact the there a portions of the economy that aren't affected by the price of gas. Our business is up 40% YTD (in sales and profits). Shout it from the rooftops - give the people confidence and this "recession" will end!
            Sandy Hequin
            Morays Jewelers
            Miami, FL

 

Business not good for all

Good morning Chuck,

Just finished reading your column and I had to write to give you the counterpoint to your statement that "business is good".

Maybe you can say that our depression (yes, I meant what I wrote, not the R word) is very localized, and I am sure that it is, but still very real to us. My store is in Durand, MI, very small with about 4,000 population, and located about 15 miles from Flint, MI and 30 from Lansing, MI. We are a bedroom community for GM workers, maybe half retired and the other half still working (sort of).

Our store is small, and our best year ever was 2000 with approximately 1/3M in sales. We have lost gross sales every year since, and I expect to maybe hit 50% of that total this year if I am lucky. August sales were down 65% from August of last year, and those totals were low. If we were not buying gold I would have had to close by now.

We have been in business for 29 years, and everything I own is tied up in this store. Do I see an end? Probably not anytime soon. GM is replacing their $28 per hour workers with $14 per hour people with limited benefits, so our middle class is beginning to disappear. Diamond sales are almost non-existent, and the only product we move are replacement mountings as they wear out.

Local unemployment rates are over 10%, every fourth house is being repossessed, and businesses are closing at an alarming rate. The good news? Still waiting for some.

            Have a good day,
            Jon Michael Fuja
            Durand, MI


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