Last updateWed, 14 Mar 2018 3pm

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ALERT – Diamond buying by phone scam more prevalent than expected

ScamIn last week’s newsletter we ran a story about 2 jewelers in Kentucky which were called by out of town “customers” looking to purchase loose diamonds using a credit card. In both cases the “customer” identified himself as a business owner from California.

As it turns out, these attempts are much more widespread than we expected. We received a great deal of feedback from readers who have experienced very similar situations. Here are a few of their stories:

Jewelry customers and the public aid in $2 million donation to nonprofits

More than 40,000 votes direct funds to St. Jude Children’s Research Hospital®, Habitat for Humanity® and Feeding America®/Food Banks Canada

(NEENAH, Wis.) - Jewelers Mutual Insurance Company’s $2 million donation campaign, “Band Together,” came to an end on July 31. The company, a leading insurer dedicated exclusively to jewelry and the jewelry industry, invited its policyholders and the general public to vote online at its website for their favorite cause.

Kentucky Jeweler identifies credit card scam

ScamOne occurrence is an anomaly. Two instances of a particular event a coincidence. But, three credit card scams from California-based construction business owners is a definite pattern. That’s what two Kentucky-based retail jewelers, separated by 215 miles on Interstate 64, determined when loose diamond purchases conducted by phone from out-of-town customers didn’t pass the smell test.

Rapaport reports diamond prices decline in July

(NEW YORK) - The Rapaport Monthly Report stated that polished diamond prices softened in July, continuing the downtrend in the second quarter. Diamond markets were seasonally quiet with U.S. wholesalers taking their annual summer vacation. Overall polished demand remains weak.

MD jewelry store devastated by flash flood


Vendor raising funds to help weather the storm

This past weekend 6 inches of rain fell in 2 hours causing a flood that devastated downtown Ellicott City, MD, killing two people and destroying or damaging at least 25 buildings. Craig Coyne Jewelers at 8113 Main Street, owned by Sam Coyne has been a part of the Ellicot City, MD community since 2000. Coyne's recently renovated building was ravished Saturday night, it will take months to restore. 

JA debuts spinel as an Official Birthstone for August

Consumer marketing plan includes print, online, social media, radio and e-mail distribution

spinel(NEW YORK) - Jewelers of America (JA), a national trade association for businesses serving the fine jewelry marketplace, has launched a consumer marketing campaign to announce that spinel is joining peridot as an official birthstone for the month of August. The new birthstone has been debuted to consumers through public relations and marketing outreach including: print media, online platforms, social media, radio segments, and e-mail distribution.

GIA offering $2 million in scholarships for 2017

GIA 8 2GIA began accepting scholarship applications on August 1st for its 2017 Gemology and Jewelry Manufacturing Arts programs, courses and lab classes. GIA scholarships, which total $2 million for 2017, align with the Institute’s goals of providing quality education in gemology and jewelry to the trade and aspiring professionals. Applications for the current scholarship cycle are available through Sept. 30 at GIA.edu/scholarships.