09042015Fri
Last updateWed, 02 Sep 2015 12am

Tracy Pearls founder, Tracy Bronson dies at 90

Henry (Tracy) Bronson, founder of Tracy Pearls, di...

ICA appoints Gary Roskin as Executive Director

ICA appoints Gary Roskin as Executive Director

(NEW YORK) - The International Colored Gemstone Ass...

New appointment strengthens Endless Jewelry’s global marketing team

New appointment strengthens Endless Jewelry’s global marketing team

Endless Jewelry has appointed Mikkel Berg as globa...

Hoover & Strong announces new Fairmined metal source

Hoover & Strong announces new Fairmined metal source

Currently sourcing Fairmined gold and silver from ...

Atlanta Jewelry Show ends 65th anniversary celebration with a flourish

Atlanta Jewelry Show ends 65th anniversary celebration with a flourish

August 2015 Edition Filled With New Resources, New...

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How Extremely Tiny Diamonds Could Be Used To Deliver Drugs

How Extremely Tiny Diamonds Could Be Used To Deliver Drugs

What good is a diamond so small that you need one of the most powerful microscopes in the world to see it? Scientists are working on ways to use these tiny treasures to deliver drugs more effectively.

Nanodiamonds are much like the diamonds you've see...

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Industry Events

Distinct points of view and a broad product range define JA New York Summer 2015

(NEW YORK) - The JA New York Summer show, held July 26 - 28th at the Jacob Javits Center, was host to an astounding breadth of product offerings in a serene and welcoming environment. Architectural or personalized pieces on display in the designer pav...

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On The Move

JBT President Dione Kenyon to retire

JBT President Dione Kenyon to retire

Dione Kenyon has announced to the Jewelers Board of Trade (JBT) Executive Committee her plans to retire from JBT, with a time frame dependent on transitioning her replacement, in 2016.

At that time, she will complete 14 years as JBT President, 25 year...

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What's New

Bulova redefines technology with UHF

Bulova redefines technology with UHF

(NEW YORK) – Having debuted in Bulova Accutron II and the Precisionist collection, Bulova’s proprietary high performance UHF (Ultra High Frequency) movement is now being extended into its Sea King and Military collections.

The heart of the movement is ...

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Featured Articles

Diamonds ‘n Dunes delivers cosmopolitan style to the Outer Banks of North Carolina

Diamonds ‘n Dunes delivers cosmopolitan style to the Outer Banks of North Carolina

When Eileen Alexanian and Ken Kelley left New York City to vacation in the Outer Banks of North Carolina, they never expected it to be a life changing trip. But the husband and wife jewelry team, who’d worked in the heart of the New York Diamond Dist...

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Latest News

How Extremely Tiny Diamonds Could Be Used To Deliver Drugs

2 DAYS AGO
How Extremely Tiny Diamonds Could Be Used To Deliver Drugs

What good is a diamond so small that you need one of the most powerful microscopes in the world to see it? Scientists are working on ways to use these tiny treasures to deliver drugs more effectively.

Nanodiamonds are much like the diamonds you've seen on expensive jewelry — they are faceted, extreme...

Readmore

Retailers estimate shoplifting, incidents of fraud cost $44 billion in 2014, according to National Retail Security Survey

2 DAYS AGO

(LONG BEACH, Calif.) - A study released from NRF PROTECT, the industry’s largest retail loss prevention event in North America, finds that retailers lose billions of dollars to shoplifting, employee and vendor theft and administrative error - collectively known as inventory shrink. According to the N...

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Tracy Pearls founder, Tracy Bronson dies at 90

3 DAYS AGO

Henry (Tracy) Bronson, founder of Tracy Pearls, died on May 31, 2015. Bronson opened Tracy Pearls, a pearl importing and wholesaling company in 1960. He worked there until 2004 when he sold the company to Rebecca Shemwell. Tracy and Rebecca had been partners until she bought him out. Rebecca will be...

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ICA appoints Gary Roskin as Executive Director

3 DAYS AGO
ICA appoints Gary Roskin as Executive Director

(NEW YORK) - The International Colored Gemstone Association (ICA) is pleased to announce that well-known gems and jewelry expert Gary Roskin has been appointed as ICA Executive Director.

Mr. Roskin began in the new position on August 4 at ICA’s New York office. He is responsible for ICA’s day-to-day a...

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JBT President Dione Kenyon to retire

2 DAYS AGO
JBT President Dione Kenyon to retire

Dione Kenyon has announced to the Jewelers Board of Trade (JBT) Executive Committee her plans to retire from JBT, with a time frame dependent on transitioning her replacement, in 2016.

At that time, she will complete 14 years as JBT President, 25 years of service to JBT, beginning as a Board Director...

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Findings manufacturer, American Jewelry Components opens in Detroit

3 DAYS AGO

(DETROIT, Mich.) - In the heart of Motor City, you’ll find a new jewelry manufacturing firm with an exceptional combination of skills and deep roots in the jewelry industry. A full-service jewelry manufacturer with a focus on high-volume die striking, American Jewelry Components, LLC. (AJC) formed ea...

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Bulova redefines technology with UHF

3 DAYS AGO
Bulova redefines technology with UHF

(NEW YORK) – Having debuted in Bulova Accutron II and the Precisionist collection, Bulova’s proprietary high performance UHF (Ultra High Frequency) movement is now being extended into its Sea King and Military collections.

The heart of the movement is a three-prong quartz crystal producing a vibration...

Readmore

Jewelers Mutual announces coverage of smart jewelry

3 DAYS AGO

(NEENAH, Wis.) - In response to rising interest from smart jewelry owners looking to protect their investments, Jewelers Mutual Insurance Company announces its coverage of smart jewelry with the same worldwide personal jewelry insurance protection it offers for traditional jewelry.

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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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