02222018Thu
Last updateTue, 20 Feb 2018 10pm
Parker’s Karat Patch carves out big local niche

Parker’s Karat Patch carves out big local niche

It was an unlikely career for Kristin and Terrence...

Retailer Roundtable: What is your business outlook for 2018?

Retailer Roundtable: What is your business outlook for 2018?

“Based on our December 2017 sales, which were up 2...

Travis Piper, the $1 Million Man

Travis Piper, the $1 Million Man

In 1997, Travis Piper went off to college with an ...

Southern Gates® Jewelry launches exclusive collection with Biltmore®

Southern Gates® Jewelry launches exclusive collection with Biltmore®

(CHARLESTON, S.C.) - Jewelry design and wholesale f...

Other News

January retail sales remain strong after holidays

January retail sales remain strong after holidays

Up 5.4 percent over last year

(WASHINGTON) - An improving economy kept January retail sales nearly as good as the holiday season’s strong showing - dropping only 0.26 percent seasonally adjusted from December - and fueled a healthy 5.4 percent increas...

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Industry Events

Jewelers for Children announces annual Rings of Strength

Jewelers for Children announces annual Rings of Strength

The annual Jewelers for Children Rings of Strength will be held on Thursday, May 31, at Mandalay Bay Resort and Casino in Las Vegas. The very popular event includes options for a 5K walk or run, a challenging bike ride in the scenic foothills of Red ...

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On The Move

Wilkerson and CH Hakimi join the Plumb Club

Wilkerson and CH Hakimi join the Plumb Club

The Plumb Club is pleased to announce the addition of two new members: Wilkerson and CH Hakimi.  These two companies will complement the Association’s nearly 50 members, representing over 100 brands and will join the other important and leading compa...

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What's New

Jewelers Mutual unveils nationwide JM Care Plan™ program

Jewelers Mutual unveils nationwide JM Care Plan™ program

Jewelry and watch plans generate additional revenue for retail jewelers

(NEENAH, Wis.) - In its latest move to support the prosperity of the jewelry industry, Jewelers Mutual Group introduces JM Care Plan™ to retail jewelers throughout the United State...

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Featured Articles

Retailer Roundtable: With repairs, what’s your response when asked about switching a diamond?

Retailer Roundtable: With repairs, what’s your response when asked about switching a diamond?

Q: With repairs, what’s your response when asked about switching a diamond?  

“I think the industry is still feeling the effects of that high profile [NBC] Dateline story from 2005 when a New York-based jeweler was caught and arrested for doing just th...

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Latest News

January retail sales remain strong after holidays

1 DAY AGO
January retail sales remain strong after holidays

Up 5.4 percent over last year

(WASHINGTON) - An improving economy kept January retail sales nearly as good as the holiday season’s strong showing - dropping only 0.26 percent seasonally adjusted from December - and fueled a healthy 5.4 percent increase year-over year, the National Retail Federation (...

Readmore

Unique Settings offering completely free Custom CAD Designs in March

1 DAY AGO
Unique Settings offering completely free Custom CAD Designs in March

(NEW YORK) - Unique Settings of New York, a premier bridal and fine jewelry manufacturer is proud to announce that all their Custom CAD Designs will be completely free throughout the month of March – “no gimmicks, no catches.” During March, all Custom CAD Designs are free including but not limited to, ...

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Jewelers for Children announces annual Rings of Strength

8 DAYS AGO
Jewelers for Children announces annual Rings of Strength

The annual Jewelers for Children Rings of Strength will be held on Thursday, May 31, at Mandalay Bay Resort and Casino in Las Vegas. The very popular event includes options for a 5K walk or run, a challenging bike ride in the scenic foothills of Red Rock Valley, or a less strenuous, street level bik...

Readmore

American Gem Trade Association GemFair™ Tucson 2018 increases buyer company attendance by 10%

14 DAYS AGO
American Gem Trade Association GemFair™ Tucson 2018 increases buyer company attendance by 10%

(TUCSON, Ariz.) - The 36th edition of the American Gem Trade Association (AGTA) GemFair™ Tucson 2018, held annually at the Tucson Convention Center, came to a close on Sunday, February 4. AGTA reported an increase in buyer company attendance by 10%, representing over 90 countries, who flocked to expl...

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Wilkerson and CH Hakimi join the Plumb Club

15 DAYS AGO
Wilkerson and CH Hakimi join the Plumb Club

The Plumb Club is pleased to announce the addition of two new members: Wilkerson and CH Hakimi.  These two companies will complement the Association’s nearly 50 members, representing over 100 brands and will join the other important and leading companies that exhibit in the Plumb Club Pavilion at th...

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ASHI announces winner for latest Lovebright Sweepstakes

22 DAYS AGO
ASHI announces winner for latest Lovebright Sweepstakes

(NEW YORK) - ASHI Diamonds has announced the winner of their Lovebright Sweepstakes. Among all the retailers that participated in the Sweepstakes, Bohland Jewelers from Ashland, Ohio had the highest number of participant entries and the winner was randomly selected from their customer participation l...

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Jewelers Mutual unveils nationwide JM Care Plan™ program

1 DAY AGO
Jewelers Mutual unveils nationwide JM Care Plan™ program

Jewelry and watch plans generate additional revenue for retail jewelers

(NEENAH, Wis.) - In its latest move to support the prosperity of the jewelry industry, Jewelers Mutual Group introduces JM Care Plan™ to retail jewelers throughout the United States. JM Care Plan is a program designed to increase ...

Readmore

Hoover & Strong, Polygon announce launch of online diamond auction service to Polygon Members

1 DAY AGO
Hoover & Strong, Polygon announce launch of online diamond auction service to Polygon Members

Hoover & Strong announced February 14 a new partnership with Polygon to offer their Harmony Diamond Auctions to Polygon members directly through the Polygon platform. The auctions are ideal for retail jewelry and pawn brokers to sell secondary market/over the counter goods, or for any seller to ...

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Furry friends on the job: Jordyn of First Class Diamonds & Jewelry

1 DAY AGO
Furry friends on the job: Jordyn of First Class Diamonds & Jewelry

This is Jordyn, the “furry daughter” of Joanne and Jim McGhee, owners of First Class Diamonds & Jewelry in Dothan, Alabama. The precious Maltese works as the store greeter. An avid fan of Alabama football, Jordyn loves to wear the team colors to work. She works every day except Football Saturdays wh...

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Furry friends on the job: Ned from Southern and Mid-America Jewelry News

8 DAYS AGO
Furry friends on the job: Ned from Southern and Mid-America Jewelry News

Say hello to Ned. He is the 3-year-old Australian Shepherd of Chris Smith, publisher of Southern and Mid-America Jewelry News . While Ned drops in at the office from time to time, he generally works from home. We’d love to have Ned come in every day, but we’ve already got a full time office dog here (Ho...

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The Marketing Minute: Trend Spotting

4 MONTHS AGO

Marketing specialist George Prout produces a weekly marketing advice video for retail jewelers, The Monday Morning Marketing Minute. He’s generously agreed to let us share them with our eWeekly readers.

 

Click here  to see more of George Prout’s The Marketing Minute

 

 

 

 

 

 

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The Marketing Minute: Pricing Strategy

4 MONTHS AGO

Marketing specialist George Prout produces a weekly marketing advice video for retail jewelers, The Monday Morning Marketing Minute. He’s generously agreed to let us share them with our eWeekly readers.

 

Click here  to see more of George Prout’s The Marketing Minute

 

 

 

 

 

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Ugly Asset

I received a call from a client of mine. I could tell that I was on speaker phone so I chose my words carefully. He explained that he had a friend that had a diamond she needed to sell. He wanted to send her over to me to see what I could do for her. I told him that I did not buy diamonds off the street but would do what I could to advise her.

An hour later this stunningly beautiful woman shows up at my door with two very well dressed and groomed boys, approximately 8 and 10 years old. They entered and within seconds she was excusing herself to return the boys to the car. I explained that they were more than welcome to stay but she insisted that they would be fine in the car with the AC on - Warning Bell #1.

She retuned only to pull a diamond out of her purse that was neatly secured in a jeweler's ziploc bag - Warning Bell #2. She explained that she had lost her diamond out of her wedding set (which she was still wearing - Warning Bell #3) and had a CZ put in the ring - Warning Bell #4. She later found the diamond. Now she was planning to leave her husband and wanted to sell the diamond - RED ALERT!!

Remember, I studied gemology not psychology. It is none of my business, nor do I care, what her station of life is or her destiny - I am not trained to understand.

However, there are a few things I do know. I have reared children and I know there are some things they need not know however, those things usually do not take place in a jewelry store. I also know that a man that invests money in his wife to have perfect platinum blond hair, manicured eye brows, hands and feet, enhanced full lips and breasts, a personal trainer and massage therapist (my client provides the last two services) - would NEVER allow his wife to walk around with a CZ as the symbol of their marriage. I understand she said she lost the first one, I understand he may not have had it insured or been able to replace the one she lost with another one - but a CZ - I do not think so.

Yet another thing experience has taught me... people who find a lost diamond seldom bring it to you in a jeweler's bag. I have received lost diamonds from coin compartments of wallets, sandwich bags, pill bottles, old jewelry gift boxes, film containers and my personal favorite - Kleenex tissue paper secured with Scotch tape.

As I sent her out the door with the heart breaking news that she was not going to get the $15,000 - $20,000 she thinks he paid for the ring, I felt as though I had just dodged a bullet. I did not fully understand why or at whom the bullet was shot, but I was relieved to have her out of my office.

Moments later, one of my students, working on her Gem ID class with GIA, emerged from the lab. She came out and asked if that kind of thing happens often and if I understood the potential danger that I had just avoided. Her husband is a divorce attorney and by proxy she is privy to the ugliness of divorce. She enlightened me to the fact that in most divorces of middle class or upper class couples, jewelry - especially wedding rings - is a marital asset that is often the battle ground for an ugly war. Her $15K wedding set, $5K diamond earrings, $7K diamond tennis bracelet, $8K diamond solitaire pendant and her gold watch adds up to a huge hammer that he will use to further pound at her heart. It also can become, so she thinks, a great start to a new future if gotten rid of BEFORE she announces she is leaving.

What danger did I avoid? Depending on who her husband is and how ugly the divorce gets I could have become the jeweler that helped her unfairly liquidate assets before they became fair game. I could have become a party to the fraud of diamond switching that she evoked on her husband. Neither my student nor I are attorneys and are unsure if there is any legal recourse the husband would have if our suspicions were confirmed. None the less, words like fraud, switching, theft, cheating and hiding are not words I want spoken in the same sentence as my store name or even my own name.

If you think this is an isolated case you need only turn on your radio. It was only 5 months ago that a talk show host of a local radio station was discussing women who get engaged and have their new diamond switched with a CZ after selling it to a jeweler. They use the money to pay off debt so that they can maintain the image of being financially responsible and so that they will not carry debt into the marriage. They fully intend on replacing the diamond later when they have the funds, but seldom do.

I thought the incident that the talk show host was referring to was one isolated case, until he opened up the phone lines for discussion. His phone lines were flooded with calls from women promoting the idea, women sharing their twist on the fraud, or women with stories of people they knew who did it. I was left speechless as I sat in my car listening to this.

Marital asset, I never thought of it as an asset to be fought over and I am thrilled I was willing to follow my instincts that told me I did not know the full story, did not want to know the full story and did not need to buy the diamond that had a story.

Tammy L. Williams, Graduate Gemologist of GIA, also prizes her membership in AGTA. She is President of J D Jewelers, a salon private jewelry business located in Suwanee, Georgia and the Southeastern Rep for Global Diamonds. Tammy is very active as a speaker and authority on Gemstones and Diamonds. Whether in her laboratory at J D Jewelers, on the lecture circuit or writing about her experiences in business, her love and passion for gemstones becomes contagious. If you'd like to contact Tammy, please e-mail her at This email address is being protected from spambots. You need JavaScript enabled to view it..



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