De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Federal agency seeks to all but ban ivory trade
The U.S. Fish and Wildlife Service plans to severely tighten regulations on the trade in African elephant ivory and, while there are a few exemptions, they may not extend to jewelry.
Reston, Va.--New regulations proposed by the U.S. Fish and Wildlife Service (FWS) could make it illegal under federal law to commercially sell, transfer or deliver African elephant ivory, and while exemptions are included in the proposal, they may not extend to jewelry.
In a proposal released in late July, the FWS stated that it wants to prohibit the “sale, or offer for sale, of ivory in interstate or foreign commerce and delivery, receipt, carrying, transport or shipment of ivory in interstate or foreign commerce in the course of a commercial activity.”
There are, however, exceptions to the regulations, two of which concern--but may not include--jewelry.
The de minimus exemption is for items that contain a limited amount of ivory that is not the primary driver of the item’s value. The FWS provides a list of criteria an item must meet to be included in this exemption, such as the total weight of the ivory component being less than 200 grams and the ivory not being raw in nature. Examples include objects such as knife handles, insulators on old tea pots and the ivory veneer on a piano with a full set of ivory keys.
The FWS lists examples of items it does not expect to meet the de minimus exception, among them “ivory earrings or a pendant with metal fittings” and “figurines, netsukes (small sculptural objects) and jewelry.”
Also, Sara Yood, assistant general counsel at the Jewelers Vigilance Committee, points out that, “The clause is set up as an ‘and’ clause, not an ‘or’ clause, meaning that an item must meet all of the criteria in order to qualify for an exemption. So a piece of ivory jewelry would need to meet all of the criteria in order to qualify.”
The FWS’ proposal also includes an antique exemption, which ivory jewelry may fall under if it is old enough.
This exemption pertains to “bona fide antiques,” meaning items that are 100 years old or older; are composed in whole or in part of an Endangered Species Act-listed species but have not been repaired or modified with any such species after December 27, 1973; and are being or were imported through an endangered species “antique port.”
“A seller would need to be able to affirmatively prove all of the above, with documentation, in order to sell an antique (ivory) piece,” Yood said.
The fact that the federal
The FWS currently is soliciting comments on its proposal restricting the sale of African elephant ivory. Comments can be submitted here from now through Sept. 28.
The American Society of Appraisers said it plans to file comment with the FWS regarding the proposed regulations though further details on those comments were not available by press time.
The Latest
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.
The retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
The bridal collection consists of 35 engagement rings and seven wedding bands.